Creation of Value for the Shareholders of Union Fenosa: 1991-2006
University of Navarra - IESE Business School
Jose Maria Carabias
London Business School; University of Navarra - IESE Business School
January 23, 2007
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.
Number of Pages in PDF File: 38
Keywords: Union Fenosa, shareholder value creation, IBEX, shareholder return
JEL Classification: G12, G31, M21working papers series
Date posted: January 24, 2007
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