IBEX 35: 1991-2009 - Value Creation and Return
University of Navarra - IESE Business School
Javier Del Campo Baonza
affiliation not provided to SSRN
January 22, 2010
We compute the shareholder value creation and the return of the companies in the IBEX 35 for the 18-year period 1991-2009. The average return was 12.5%, but 4.4% was due to the decline in interest rates (from 13% to 4%). The shareholder value creation in the whole period was 101 billion euros, despite a value destruction of 238 billion euros in 2008.
Note: Downloadable document is in Spanish.
Number of Pages in PDF File: 15
Keywords: IBEX 35, shareholder value creation, IGBM, ITBM, Spain
JEL Classification: G12, G31, M21working papers series
Date posted: January 23, 2010 ; Last revised: February 6, 2010
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