Description
Book SynopsisThis title takes a practical, step-by-step approach to valuing both public and closely-held companies in emerging economies for merger or acquisition purposes. It bridges the gap between theory and the practice of company valuation in transitioning markets. Focuses on the valuation issues for emerging markets.
Table of ContentsFOREWORD xvii
CHAPTER 1 Valuing Companies in Emerging Markets: Importance and Challenges 1
CHAPTER 2 Valuing Companies in Developed Markets: A Review 32
CHAPTER 3 Fundamental Discounted Cashflow Valuation in Emerging Markets: Cashflows and the Cost-of-Equity Capital 92
CHAPTER 4 Fundamental Discounted Cashflow Valuation in Emerging Markets: Unsystematic Risk and Synthetic Company Value 175
CHAPTER 5 Valuing Companies in Emerging Markets via Real Options 222
CHAPTER 6 Relative Valuation in Emerging Markets: Comparable Companies and Transactions 247
CHAPTER 7 Valuing Technology Startups in Emerging Markets 319
APPENDIX A Valuation Parameters in the Reference Emerging Markets 429
APPENDIX B Valuation Parameters in the United States 438
APPENDIX C Valuation Parameters in Argentina 449
APPENDIX D Sources of Data on Comparable Companies and Transactions 462
APPENDIX E Valuation Parameters of U.S. Internet Companies 464
APPENDIX F Present Value of Asset/Present Value of Exercise Price 483
APPENDIX G Best Valuation Practices in the United States and Argentina 488
INDEX 497
