Advertisement
Published in:
2010 | OriginalPaper | Chapter
Measures for Firms Value in Random Scenarios
Author : Paola Modesti
Published in: Preferences and Decisions
Publisher: Springer Berlin Heidelberg
Activate our intelligent search to find suitable subject content or patents.
Select sections of text to find matching patents with Artificial Intelligence. powered by
Select sections of text to find additional relevant content using AI-assisted search. powered by
The value of a firm cannot be totally independent of the financial context in which the firm operates. In this paper we propose a set of axioms in order to characterize appropriate measures of the (random) value of a company which provides a (sublinear) valuation functional consistent with the existence of a financial market. It allows to give an upper and a lower bound to the value of a firm.
Finally, in a random context, we consider some classical valuation methods and test them with respect to the axioms.