Topical review
- Determine the value of a corporation by valuing two components: assets-in-place and nonoperating assets
- Use the corporate valuation model determine the value of operations for a company and determine the price per share of outstanding stock
- Constant growth and multi-stage
- Allocate corporate value to claimholders
- Equityholders get the residual
- Describe four drivers of corporate value
- Define terms and discuss different areas of corporate governance
- Composition and election of boards of directors
- Provisions protecting a company from takeovers
- Corporate valuation - assets-in-place, nonoperating assets, free cash flow, market value added, economic value added
- Corporate governance - value-based management, poison pills, greenmail, interlocking boards of directors, restricted voting rights
ST-1, #1 (to review FCF), 7
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