Harvard Corporate Governance

AUGUST 1, 2023

Posted by Mary Ann Deignan, Rich Thomas, and Kathryn Night, Lazard, on Tuesday, August 1, 2023 Editor's Note: Mary Ann Deignan is Head of Capital Markets Advisory, and Rich Thomas and Kathryn Night are Managing Directors in the Capital Markets Advisory group at Lazard. This post is based on a Lazard memorandum by Ms.

Marketability 242

Marketability Total Shareholder Return Alpha Market Capitalization 242

Value Scope

JULY 21, 2020

This work can be used to reconcile and support an adjustment to the CAPM, then the WACC, via Alpha and Beta. They combine elements of the Income Method, which is cash flow based, and the Market Method, which is based on comparative analysis. Using Alpha, however, it could be done. But how do we support the adjustment to Alpha?

Intangible Assets 130

Intangible Assets Beta Alpha Unlevered Beta 130

Value Scope

SEPTEMBER 24, 2020

How do you justify making substantial investments and fundamental changes to corporate structures and culture without empirical evidence that it will make a direct impact on shareholder value, total shareholder return, net present value, and individual rates of return? . Uncertainty in market signals.

Intangible Assets 130

Intangible Assets Alpha Beta Marketability 130