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Creation of Value for the Shareholders of Union Fenosa: 1991-2006
Pablo Fernandez University of Navarra - IESE Business School Jose Maria Carabias London Business School; University of Navarra - IESE Business School January 23, 2007 Abstract: The market cap of Union Fenosa increased between December 1991 and December 2006 in 10.4 billion euros. The shareholder value creation during this period was 9.6 billion euros. The average shareholder return of Union Fenosa in this 14 years was 21.4%, higher than that of the IBEX 35 (15.4%). We also compare the shareholder return of Union Fenosa with that of other utilities.
Keywords: Union Fenosa, shareholder value creation, IBEX, shareholder return JEL Classifications: G12, G31, M21 Working Paper SeriesDate posted: January 24, 2007 ; Last revised: January 24, 2007Suggested CitationContact Information
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