The economics of business valuation
Subtitle: towards a value functional approach
By: Patrick L. Anderson
Publisher: Stanford Economics and Finance, an imprint of Stanford University Press
Published: 2012
Place of publication: Stanford, California
Language: eng
Number of pages: 424
ISBN-13: 9780804758307
Subjects: Business enterprises; Valuation
Description: 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.
Notes: Includes bibliographical references and index.
Table of contents: title: Modern value quandaries; title: Methods and theories of value; title: The failure of the neoclassical investment rule; title: The nature of the firm; title: The organization and scale of private business; title: Accounting for the firm; title: Value in classical economics; title: Value in neoclassical economics; title: Modern recursive equilibrium and the basic pricing equation; title: Arbitrage-free pricing in complete markets; title: Portfolio pricing methods; title: Real options and expanded net present value; title: Traditional valuation methods; title: Practical application of the income method; title: The value functional : theory; title: The value functional : applications; title: Applications : finance and valuation; title: Applications : law and economics.