Abstract

http://ssrn.com/abstract=1737860
 
 

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IBEX 35: 1991-2010 - Value Creation and Return


Pablo Fernandez


University of Navarra - IESE Business School

Javier Aguirreamalloa


IESE Business School

Luis Corres Avendaño


IESE

January 10, 2011


Abstract:     
We compute the shareholder value creation and the return of the companies in the IBEX 35 for the 19-year period 1991-201'3 The average return was 11%, but 2.9% was due to the decline in interest rates (from 13% to 5.5%). The shareholder value creation in the whole period was 23 billion euros, despite a value destruction of 238 billion euros in 2008 and another one of 87 billion euros in 2010.

Note: Downloadable document is in Spanish.

Number of Pages in PDF File: 16

Keywords: IBEX 35, shareholder value creation, IGBM, ITBM, Spain

JEL Classification: G12, G31, M21

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Date posted: January 11, 2011 ; Last revised: January 23, 2011

Suggested Citation

Fernandez, Pablo and Aguirreamalloa, Javier and Avendaño, Luis Corres, IBEX 35: 1991-2010 - Value Creation and Return (January 10, 2011). Available at SSRN: http://ssrn.com/abstract=1737860 or http://dx.doi.org/10.2139/ssrn.1737860

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/
Javier Aguirreamalloa
IESE Business School ( email )
08034 Barcelona
Spain
Luis Corres Avendaño
IESE ( email )
Camino del Cerro del Águila, 3
28023 Madrid, Madrid
Spain
656940704 (Phone)
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