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Production Functions, Cost Minimization, and Profit Maximization Read chapter Read first chapter

2023 | OriginalPaper | Chapter

24. Firm Valuation Models

Author : Pasquale De Luca

Published in: Corporate Finance

Publisher: Springer International Publishing

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Abstract

The Discounted Cash-Flow (DCF) model can be applied in Asset Side (DCFAS) perspective other than in the Equity Side (DCFES) perspective as analyzed in the previous chapter. While in the Equity Side perspective, we estimate the Equity Value of the firm, in the Asset Side perspective, we estimate the entire Firm Value. Consequently, while in Equity valuation we consider the perspective of the shareholders only, in the Enterprise valuation, we consider the perspective of all investors in equity and debt of the firm.

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previous chapter Equity Valuation Models
next chapter Multiples Valuation
Literature
Hamada, R. S. (1972). The effect of the firm’s capital structure on the systemic risk of common stocks. Journal of Finance, 27(2), 435–452.CrossRef
Koller, T., Goedhart, M., & Wessels, D. (2015). Valuation (6th ed.). Wiley.
Titman, S. (1984). The effect of capital structure on a firm’s liquidation decision, 13(1), 137–151.
Metadata
Title
Firm Valuation Models
Author
Pasquale De Luca
Copyright Year
2023
Book
Corporate Finance

Print ISBN: 978-3-031-18299-0

Electronic ISBN: 978-3-031-18300-3

Copyright Year: 2023

DOI
https://doi.org/10.1007/978-3-031-18300-3_24