Reynolds Holding

NOVEMBER 16, 2022

A fundamental question in corporate governance research is whether the board of directors affects firm value. Some argue that directors contribute no additional value to the firm and may even lower its value if they act only as a rubber stamp on the CEO’s decisions. percent of variation in DSQ.

Firm Value 79

Firm Value Book Value Marketability 79

Reynolds Holding

MARCH 22, 2023

Though the pill’s deterrence of hostile takeovers may seem beneficial at first glance, a hostile takeover may in some cases benefit shareholders by allowing the acquirer to run the firm more efficiently, thereby increasing shareholder value. Therefore, the impact of poison pills on firm value requires empirical study.

Intangible Assets 77

Intangible Assets Firm Value Book Value Marketability 77

Musings on Markets

JANUARY 5, 2024

Standard Deviation in Equity/Firm Value 2. Book Value Multiples 3. Working capital needs Thus, I compute pricing multiples based on revenues (EV to Sales, Price to Sales), earnings (PE, PEG), book value (PBV, EV to Invested Capital) or cash flow proxies (EV to EBITDA). Revenue Multiples 4.

Dividends 105

Dividends Risk Premium Equity Book Value 105

Musings on Markets

JANUARY 6, 2023

For example, I have seen it asserted that a stock that trades at less than book value is cheap or that a stock that trades at more than twenty times EBITDA is expensive. Price to Book 3. Standard deviations in equity and firm value 4. Cost of Debt 2. Standard deviation in operating income 3. Cost of Capital 3.

Risk Premium 52

Risk Premium Dividends Start-ups EBITDA 52

Musings on Markets

JANUARY 10, 2025

Standard Deviation in Equity/Firm Value 2. Book Value Multiples 3. Historical Growth in Revenues & Earnings 1. Profit Margins 1. Costs of equity & capital 1. Earnings Multiples 2. Fundamental Growth in Equity Earnings 2. Return on Equity 2. Fundamenal Growth in Operating Earnings 3. Revenue Multiples 4.

Risk Premium 115

Risk Premium Dividends Start-ups Corporate Finance 115

Musings on Markets

FEBRUARY 6, 2025

The first is recognizing that every multiple has a market estimate of value in the numerator, capturing either just equity value (market cap of equity), total firm value (market cap of equity + total debt) or operating asset (enterprise) value (market cap of equity + total debt - cash): Depending on the scalar (revenues, earnings, book value or cash (..)

Risk Premium 67

Risk Premium Start-ups Enterprise Value Equity 67