Demystifying the user of beta in the determination of the cost of capital and an illustration of its use in Lazard's valuation of Conrail
The Journal of Corporation Law , Winter 2000, Vol. 25 This article discusses deriving the figure for beta (a measure of a security's sensitivity to market movements) in valuing capital budgeting ...
McMullin v. Beran
At issue in this shareholder dispute case is breach of fiduciary duties in connection with Lyondell's acquisition of Chemical's shares.
In re: Unocal Exploration Corp.
At issue is breach of fiduciary duty.
Small stock premium
In the BVU , the Cost of Capital summary shows 10 th decile small stock premiums at 4.35% (Dec. 13, 1999). Is this to be used with CAPM (with beta included) or in a build-up model, with ...
Learning your Alpha, Beta, Gammas
"The Anatomy of Beta—Getting Down to Basics," Dr. Thomas Stanton, Business Appraisal Practice , Fall 1999, pp. 34-38. This article provides a simple illustration of how to calculate beta for a comp ...
PriceWaterhouseCoopers Updates Risk Premia Study
PricewaterhouseCoopers has released a new study by Roger Grabowski and David King that documents the historical relationship between company size and average rates of return. The new study covers the period 1963 through 1998 and is an update of material presented in the August 1997.
The Cost of Capital and Valuing a Business beta switch
I attended recently the Ibbotsons Cost of Capital and Advanced Cost of Capital workshops in Chicago. In an effort to summarize the material learned, I have been preparing my own summarized ...
Ibbotson's new Web site allows "per inquiry" fees
Ibbotson Associates , 225 North Michigan Avenue, Suite 700, Chicago IL 60601, (800) 758-3557. Industry reports are $50, Beta and Tax reports are $10. Members of AICPA, ASA, NACVA , and IBA receive ...
Stocks, Bonds, Bills and Inflation: Valuation Edition
Reviewed by Shannon Pratt Ibbotson Associates is coming out with a new Valuation Edition of their 1999 annual Stocks, Bonds, Bills and Inflation. The book will be available in March, wit ...
PPMC discount rate jumps from 12.97% to 16.35%; total PPMC market capitalization plummets 70.1%
We first introduced our readers to Physician Practice Management Companies in the May 1996 issue of Business Valuation Update . At that time, guest interviewee Rick Holdren considered the medical p ...
Good growth forecasts key to good valuations
It has been six years since Fama and French (F&F) published their seminal paper, "The Cross-section of Expected Stock Returns," The Journal of Finance, June, 1992, which examined the effect that firm size and the book to market ratio had on predicting stock returns.
Building better betas is Ibbotson's answer to beta controversy
Several recent research studies have provided significant support for two interesting hypotheses regarding betas: The lag effect: For all but the largest companies, the prices of individu ...
Nebenzahl v. Miller
At issue is breach of fiduciary duties in connection with a merger agreement.
Wells v. Shearson Lehman/American Express
At issue is the valuation of stock in a management buyout, in which shareholder argues that the board and shareholders were misinformed as to the value of the stock.
Samjens Partners 1 v. Burlington
At issue are the terms of a merger agreement including breach of fiduciary duty.
Horwitz v. Southwest Forest
At issue are the rights of the stockholders in regards to "poison pill" warrants.
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