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Dark Side of Valuation, The: Valuing Young, Distressed, and Complex Businesses

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SKU 9780134854106 Categories ,
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Renowned valuation expert Aswath Damodaran reviews the core tools of valuation, examines today’s most difficult estimation questions and issues, and then systematically addresses the valuation challenges that arise throughout a firm’s lifecycle in <i...

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Description

Product ID:9780134854106
Product Form:Paperback / softback
Country of Manufacture:US
Title:Dark Side of Valuation, The
Subtitle:Valuing Young, Distressed, and Complex Businesses
Authors:Author: Aswath Damodaran
Page Count:800
Subjects:Corporate finance, Corporate finance, Investment and securities, Rating and valuation law, Investment & securities, Rating & valuation law
Description:Select Guide Rating

Renowned valuation expert Aswath Damodaran reviews the core tools of valuation, examines today’s most difficult estimation questions and issues, and then systematically addresses the valuation challenges that arise throughout a firm’s lifecycle in The Dark Side of Valuation: Valuing Young, Distressed and Complex Businesses.

 

In this thoroughly revised edition, the author looks at how best to deal with low interest rates, volatile equity risk premiums and political risk in valuation.

 

Readers will gain insight into:

  • Overcoming the temptation to use unrealistic or simplistic valuation methods
  • Risk-free rates, risk premiums and other macroeconomic assumptions
  • Intelligent analysis for angel and early venture capital investing
  • Projecting the impact of regulatory changes
  • The stages of the corporate lifecycle
  • Valuing financial services and commodities companies

Damodaran’s insights will be indispensable to everyone involved in valuation: financial professionals, investors, M&A specialists, and entrepreneurs alike.


The Definitive Guide to Valuing Hard-to-Value Companies: Fully Revised for Today’s Financial Markets

Valuing money-making companies that have long histories and established business models is straightforward. It is when you encounter difficult-to-value companies that you feel the urge to go over to the dark side of valuation—where you abandon first principles and create new metrics. Aswath Damodaran looks at a range of these companies, from start-ups in new businesses to distressed companies, from banks facing regulatory turmoil to commodity firms, and from emerging market upstarts to multinationals that spread across geographies and businesses. With each grouping, he helps you examine the call of the dark side and its practices and frameworks to value these firms.

To answer these questions, Aswath looks at companies across the life cycle and in different markets, from Uber and Shake Shack at one end of the spectrum to Vale, Royal Dutch, and United Technologies at the other end.

In the process, you learn how to
  • Deal with “abnormally low” and negative risk-free rates in valuation
  • Adapt to dynamic and changing risk premiums
  • Value young companies that are disrupting existing businesses
  • Analyze commodity and cyclical companies across cycles
  • Value a company as the sum of its parts or as an aggregation of its users/subscribers and customers
  • Determine the difference between pricing and valuation, and why some investments can only be priced


Imprint Name:Pearson FT Press
Publisher Name:Pearson Education (US)
Country of Publication:GB
Publishing Date:2018-06-29