Diplom thesis, more… Lu, Sien: Publications Find an overview. Master thesis, more… Stark, Tina: For every month, target price change quintile breakpoints are calculated using all data up to the preceding month for every recommendation changing category. The results are qualitatively the same but are slightly weaker. Master unternehmensbewertung, more… von Bonhorst, Leopold:

A detailed presentation of the multiplier principles will finish this theoretical chapter. It must include a cover page, a structuring proposal and an outline of your topic over one or two pages. While prior research shows promising potential for this model, it has never been tested on a large scale dataset. Research programmes in economics and management. Master thesis, more… Grobosch, Sonja: Row five of Table 2. MBA in International Management.

bachelor thesis unternehmensbewertung

Valuing firms is their profession, so that their experience might result in better forecasts of future firm performances as, for example, measured by the evolvement of their market values. Sign in to write a comment. These are the well known Z-score and O-score by Altman and Ohlson These returns cannot be attributed to market unternehmemsbewertung.

Chair of Finance | ESCP Europe

Information and Business Technologies. Master bachelor, more… Abe, Christine: These authors investigate the performance of target price changes conditional on the direction of the recommendation change upgrades, reiterations, downgrades issued by the same broker. Explanations can be found, for example, in Bradshaw Finally, chapter 5 summarizes and concludes.

Therefore the entity and equity approach within the discounted cash flow method will be provided. Finally, our sample covers more than 5, companies, whereas the analyses by Huang et al.


Corporate evaluations are made for different purposes. Waiting one trading day ensures that the portfolios are based on available information.

The abiguity of information content of index reconstitutions in Germany. To this end, the value of the company and its business units has to be determined and the performance of the strategies has to be measured. While there is a large body of literature on bankruptcy prediction, the standard today still seem to yhesis statistical models developed more than 30 years ago Aziz and Dar ; Balcaen and Ooghe However, there unternehmensbfwertung still several aspects where further research is necessary Balcaen and Ooghe The liquidation value is the smallest value of a company.

If the client is the buyer he tries to reach the lowest price and if he is the seller it is thesiis other way round. Master thesis, more… Kallert, Lisa: Second, analyzing the performance of target price changes conditional on the recommendation level enables the researcher to examine whether observed abnormal returns are consistent with the recommendations.

Bachelor Thesis Colloquium

In this regard the liquidation and the reproductive value within the net asset value methods are going to be explained. Within this chapter Fielmann is going to be analyzed from different perspectives like the market or the analyst coverage.

Thewis analyst reports are usually publicly available and their most popular piece of information is the recommendation which summarizes the results in an advice for the client. Returns are obtained from the CRSP database. In general, large price changes tend to precede large target price changes in Table 2.


bachelor thesis unternehmensbewertung

This quote by Oscar Wilde emphasizes that the price of something does not have to be the value for the thing. Thus, instead of blindly following a recommendation, investors might put more weight on the change in the corresponding target price and consider transaction costs.

Company Valuation and Bankruptcy Prediction

Acknowledgements I thesis like to take this opportunity to thank a number of people who have been supportive of the bachelor project and of invaluable thesis in attempting to steer the work in appropriate directions. Most recently, Feldman et al.

bachelor thesis unternehmensbewertung

Pierre und Miquelon PM St. Due to their thhesis, there are large bodies of literature on company valuation e. Master thesis, more… Bi, Monika: Bachelor Thesis Colloquium The bachelor thesis colloquium is a regular component of a bachelor thesis at our institute and consists of a preliminary discussion of the topic, a discussion of the compulsory project outline after weeks, unternehmensbewertungg assistance by a research and teaching assistant as well as feedback.

Master thesis, more… Kant, Benjamin: Source of the analyst announcement: