Angebote zu "Expectations" (113 Treffer)

Kategorien

Shops

Investor Expectations in Value Based Management
117,69 € *
ggf. zzgl. Versand

Understanding the process of shaping investor expectations is essential to describe and predict changes in the value of assets on the financial markets, especially stock prices on the capital markets and thus the value of companies listed on them. The main objective of this book is to include the investor expectations in the concept of enterprise value management and measurement of shareholders value creation. It seems that the role of expectations, as a determinant of investment decisions on the capital market, requires a deep insight and highlight the importance of managing the expectations for creating value for shareholders, in particular in the context of the financial crisis of 2007-2009. Creating value for shareholders is to overcome investor expectations for the rate of return on their initial investment. That means that managers must understand how investors build their expectations. According to studies conducted by T. Copeland and A. Dolgoff'a there is a strong and statistically significant relation between the shareholders returns and the two types of variables: changes in expectations for the future earnings and changes in the level of interference of provided information. Almost 50% of the variance of return rates can be explained by these two variables. Studies have also shown that changes in expectations for long-term profits have a significant and immediate impact on the share price. Readers of this book will be able to understand the process of investor expectation formulation, will know how to create value in response to investor expectations and how to consciously shape investor expectations in order to increase company value.

Anbieter: Dodax
Stand: 28.01.2020
Zum Angebot
Mikolajek-Gocejna, Magdalena: Investor Expectat...
109,39 € *
ggf. zzgl. Versand

Erscheinungsdatum: 16.07.2014, Medium: Buch, Einband: Gebunden, Titel: Investor Expectations in Value Based Management, Titelzusatz: Translated by Klementyna Dec and Weronika Mincer, Auflage: 2014, Autor: Mikolajek-Gocejna, Magdalena, Verlag: Springer International Publishing, Sprache: Englisch, Schlagworte: Wirtschaftstheorie und // philosophie // Makroökonomie // Finanzen, Rubrik: Betriebswirtschaft, Seiten: 240, Informationen: HC runder Rücken kaschiert, Gewicht: 502 gr, Verkäufer: averdo

Anbieter: averdo
Stand: 28.01.2020
Zum Angebot
Market Expectations and Analyst Forecasts
45,80 € *
ggf. zzgl. Versand

Market expectations are an unquestioned driver of share prices. In order to take investment decisions, knowing and quantifying market expectations is one of the most important factors of the investment process. To determine the appropriate measurement and proxies for market expectations, it is crucial to understand the link between expectations and the valuation of a corporation: From a theoretical point of view, the monetary value of a corporation is ultimately determined by the discounted flow of its future streams of income. In other words, the today’s value is the sum of the present values of all the expected incremental cash flows generated by the corporation. It is obvious, however, that a multitude of assumptions about a firm’s future prospects are required to determine a corporation’s future income. Yet, reasonable assumptions are grounded in justifiable expectations about what the future will bring. It is natural, therefore, to assume that expectations about a company’s future streams of income are the predominant – if not even the only - issues that matter in an investor’s purchase decision.Early exponents of this coherence are for example Graham and Dodd (1934) who pointed out that effects of earnings announcements on firm value are “likely to be insignificant, unless the earnings announcement itself signals a change in the outlook for the future. The long-term investor recognizes that purchasing a stock accomplishes the acquisition of existing assets and liabilities, regardless of where they come from or when they were acquired. Since the past cannot be changed, it is not an issue in the purchase decision. What is an issue in the purchase decision is the future earnings that the investor will obtain by buying the stock. It is the ability of the existing assets and liabilities to create future earnings that determine the value of the equity position.”At this point, two things are noteworthy: first, it follows that an individual investor values investment opportunities based on his expectations with respect to the investment’s prospects. Secondly, since these expectations are formed on a subjective basis, there is no ultimately “objective” valuation approach, meaning that opinions on a corporation’s prospects will vary across different investors. Aggregating the multitude of available expectations to one single measure results in the well-established concept called capital markets. Simply speaking, ideally stock markets are the sum of differing future opinions which interact, reinforce and negate each other in a universe of opinions. Hence, share prices generated by the market can be viewed as the consensus expectation of the discounted flow of a corporation’s future income. This certainly does not say that the market is right per se: whether the market consensus is correct or not will only become apparent as time passes. However, the important conclusion which can be drawn is that if expectations on future prospects change, the assigned value will do so as well.

Anbieter: Dodax
Stand: 28.01.2020
Zum Angebot
Market Expectations and Analyst Forecasts
45,80 € *
ggf. zzgl. Versand

Market expectations are an unquestioned driver of share prices. In order to take investment decisions, knowing and quantifying market expectations is one of the most important factors of the investment process. To determine the appropriate measurement and proxies for market expectations, it is crucial to understand the link between expectations and the valuation of a corporation: From a theoretical point of view, the monetary value of a corporation is ultimately determined by the discounted flow of its future streams of income. In other words, the today’s value is the sum of the present values of all the expected incremental cash flows generated by the corporation. It is obvious, however, that a multitude of assumptions about a firm’s future prospects are required to determine a corporation’s future income. Yet, reasonable assumptions are grounded in justifiable expectations about what the future will bring. It is natural, therefore, to assume that expectations about a company’s future streams of income are the predominant – if not even the only - issues that matter in an investor’s purchase decision.Early exponents of this coherence are for example Graham and Dodd (1934) who pointed out that effects of earnings announcements on firm value are “likely to be insignificant, unless the earnings announcement itself signals a change in the outlook for the future. The long-term investor recognizes that purchasing a stock accomplishes the acquisition of existing assets and liabilities, regardless of where they come from or when they were acquired. Since the past cannot be changed, it is not an issue in the purchase decision. What is an issue in the purchase decision is the future earnings that the investor will obtain by buying the stock. It is the ability of the existing assets and liabilities to create future earnings that determine the value of the equity position.”At this point, two things are noteworthy: first, it follows that an individual investor values investment opportunities based on his expectations with respect to the investment’s prospects. Secondly, since these expectations are formed on a subjective basis, there is no ultimately “objective” valuation approach, meaning that opinions on a corporation’s prospects will vary across different investors. Aggregating the multitude of available expectations to one single measure results in the well-established concept called capital markets. Simply speaking, ideally stock markets are the sum of differing future opinions which interact, reinforce and negate each other in a universe of opinions. Hence, share prices generated by the market can be viewed as the consensus expectation of the discounted flow of a corporation’s future income. This certainly does not say that the market is right per se: whether the market consensus is correct or not will only become apparent as time passes. However, the important conclusion which can be drawn is that if expectations on future prospects change, the assigned value will do so as well.

Anbieter: Dodax AT
Stand: 28.01.2020
Zum Angebot
Performance of Telecoms Industry in the Wake of...
49,00 € *
ggf. zzgl. Versand

Tanzania embarked on a liberalisation program of its different sectors including telecommunication industry in mid 1990s. The Government of the United Republic of Tanzania undertook a US$250 million Telecommunication Restructuring Program with assistance from the World Bank and other international donors to revamp the telecommunication infrastructure and restructuring of the company. The decision to privatise state owned telecom company was based on the goal to improve its quality and quantity of services by way of private investor. The company was sold to the highest bidder for US$120 million whereby the company was handed over after the said investor paid US$60 million and made a guarantee for the remaining balance upon verification of company s year 2000 financial statement. This book highlights the expectations of the privatisation and lessons learned from the aftermath failure of the company's performance and recommendations for the regulatory framework and company.

Anbieter: Dodax
Stand: 28.01.2020
Zum Angebot
Performance of Telecoms Industry in the Wake of...
50,40 € *
ggf. zzgl. Versand

Tanzania embarked on a liberalisation program of its different sectors including telecommunication industry in mid 1990s. The Government of the United Republic of Tanzania undertook a US$250 million Telecommunication Restructuring Program with assistance from the World Bank and other international donors to revamp the telecommunication infrastructure and restructuring of the company. The decision to privatise state owned telecom company was based on the goal to improve its quality and quantity of services by way of private investor. The company was sold to the highest bidder for US$120 million whereby the company was handed over after the said investor paid US$60 million and made a guarantee for the remaining balance upon verification of company s year 2000 financial statement. This book highlights the expectations of the privatisation and lessons learned from the aftermath failure of the company's performance and recommendations for the regulatory framework and company.

Anbieter: Dodax AT
Stand: 28.01.2020
Zum Angebot
Confirming Dividend Changes and the Non-Monoton...
70,52 € *
ggf. zzgl. Versand

The stylized facts that firms pay and investors react to dividends disregard dividend neutrality. Taking on the perspective that informational asymmetries are the central determinant for dividend value relevance, Christian Müller assumes that firm's dividend decision conveys useful information to investors. He shows that investors use dividend changes to revise their a priori expectations about the persistence of a current earnings change. While his theoretical and empirical analyses generally imply that dividend changes constitute informative, but imperfect information signals, he further identifies situations in which they are substantial to investors. Christian Müller's research comprehensively examines the informational role of dividend policy and provides new insights to the corresponding Bayesian investor learning process.

Anbieter: Dodax AT
Stand: 28.01.2020
Zum Angebot
Confirming Dividend Changes and the Non-Monoton...
74,04 € *
ggf. zzgl. Versand

The stylized facts that firms pay and investors react to dividends disregard dividend neutrality. Taking on the perspective that informational asymmetries are the central determinant for dividend value relevance, Christian Müller assumes that firm's dividend decision conveys useful information to investors. He shows that investors use dividend changes to revise their a priori expectations about the persistence of a current earnings change. While his theoretical and empirical analyses generally imply that dividend changes constitute informative, but imperfect information signals, he further identifies situations in which they are substantial to investors. Christian Müller's research comprehensively examines the informational role of dividend policy and provides new insights to the corresponding Bayesian investor learning process.

Anbieter: Dodax
Stand: 28.01.2020
Zum Angebot
From Science to Startup
29,33 € *
ggf. zzgl. Versand

This book charts the experiences, pitfalls and knowledge behind leading scientific ideas to successful startups. Written by one of Switzerland's top serial entrepreneurs, this book is a must-read for scientists and academicians who want to see their idea turn into a product and change the market. It is also pertinent for finance and business professionals who aspire to become technology entrepreneurs. Starting with personal qualities of an entrepreneur, Anil Sethi discusses successful ideas, technology evaluation, team formation, patents and investor expectations. To guide the entrepreneur, this book also analyzes deal closing, equity conversion and ideal exit strategies to follow. Ultimately Anil Sethi reveals the 'inside track' which helps understand what drives entrepreneurs and what they wouldn't admit.

Anbieter: Dodax AT
Stand: 28.01.2020
Zum Angebot