The economics of business valuation : towards a value functional approach / Patrick L. Anderson.

Format:

Book

Author/Creator:

Anderson, Patrick L.

Language:

English

Subjects (All):

Business enterprises--Valuation.

Business enterprises.

Physical Description:

1 online resource (xvi, 424 pages) : illustrations (black and white)

Edition:

1st ed.

Place of Publication:

Stanford, Calif. : Stanford Economics and Finance, an imprint of Stanford University Press, 2012.

Language Note:

English

Summary:

For decades, the traditional approaches to business valuation (market, asset, and income) have taken centre stage in the assessment of the firm. This book presents an expanded valuation toolkit, consisting of nine well-defined valuation principles hailing from the fields of economics, finance, accounting, taxation, and management. It ultimately argues that the 'value functional' approach to business valuation avoids most of the shortcomings of its competitors, and more correctly matches the actual motivations and information held by stakeholders.

Contents:

Modern value quandaries

Methods and theories of value

The failure of the neoclassical investment rule

The nature of the firm

The organization and scale of private business

Accounting for the firm

Value in classical economics

Value in neoclassical economics

Modern recursive equilibrium and the basic pricing equation

Arbitrage-free pricing in complete markets

Portfolio pricing methods

Real options and expanded net present value

Traditional valuation methods

Practical application of the income method

The value functional : theory

The value functional : applications

Applications : finance and valuation

Applications : law and economics.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

ISBN:

9780804783224

0804783225

OCLC:

851972018