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Shareholder Value Creation of Utilities in Spain: 1991-2007 (in Spanish)


Pablo Fernandez


University of Navarra - IESE Business School

Vicente J. Bermejo-Boixareu


Universidad Carlos III
March 14, 2008


Abstract:     
We compute the Shareholder Value Creation of Endesa, Iberdrola and Union Fenosa between 1991 and 2007. The shareholder value creation during this period was: Endesa 31.2 billion euros; Iberdrola 32.0; and Union Fenosa 12.5.

The average shareholder return was: Endesa 17.6%; Iberdrola 19.7% and Union Fenosa 21.8%, all higher than that of the IBEX 35 (15.1%).

Note: Downloadable document is in Spanish.

Number of Pages in PDF File: 42

Keywords: Endesa, Iberdrola, Union Fenosa, Shareholder Value Creation

JEL Classification: G12, G31, M21

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Date posted: March 17, 2008  

Suggested Citation

Fernandez, Pablo and Bermejo-Boixareu, Vicente J., Shareholder Value Creation of Utilities in Spain: 1991-2007 (in Spanish) (March 14, 2008). Available at SSRN: http://ssrn.com/abstract=1106092 or http://dx.doi.org/10.2139/ssrn.1106092

Contact Information

Pablo Fernandez (Contact Author)
University of Navarra - IESE Business School ( email )
Camino del Cerro del Aguila 3
28023 Madrid
Spain
+34 91 357 0809 (Phone)
+34 91 357 2913 (Fax)
HOME PAGE: http://web.iese.edu/PabloFernandez/
Vicente J. Bermejo-Boixareu
Universidad Carlos III ( email )
Calle Madrid, 126 Office 7.1.02
Getafe, Madrid 28903
Spain
+34 91 6249772 (Phone)
Feedback to SSRN (Beta)


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