Pablo Fernandez

University of Navarra - IESE Business School

PricewaterhouseCoopers Professor of Corporate Finance

Camino del Cerro del Aguila 3

28023 Madrid

Spain

http://web.iese.edu/PabloFernandez/

  • University of Navarra - IESE Business School

    • Email
    • Tel: +34 91 357 0809
    • Fax: +34 91 357 2913
SCHOLARLY PAPERS

262

DOWNLOADS
Rank 1

SSRN RANKINGS

Top 1

in Total Papers Downloads

1,116,542

CITATIONS
Rank 692

SSRN RANKINGS

Top 692

in Total Papers Citations

733

Scholarly Papers (262)

Actions:
Email selected abstracts
1.

Company Valuation Methods

Number of pages: 18 Posted: 22 Jul 2001 Last Revised: 19 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 60,927 (11)
Citation 5

Abstract:

Loading...

Value, Price, Free cash flow, Equity cash flow, Capital cash flow, Book value, Market value, PER, Goodwill, Required return to equity, Working capital requirements

2.

Valuing Companies by Cash Flow Discounting: Ten Methods and Nine Theories

EFMA 2002 London Meetings
Number of pages: 16 Posted: 14 May 2004 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 36,065 (37)
Citation 20

Abstract:

Loading...

discounted cash flows, APV, WACC, Equity Cash Flow, beta

3.

Market Risk Premium Used in 82 Countries in 2012: A Survey with 7,192 Answers

IESE Business School Working Paper No. WP-1059-E
Number of pages: 18 Posted: 16 Jun 2012 Last Revised: 12 Oct 2017
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 25,394 (70)
Citation 1

Abstract:

Loading...

equity premium, required equity premium, expected equity premium, historical equity premium, market risk premium

4.

Métodos de valoración de empresas (Company Valuation Methods)

Number of pages: 28 Posted: 15 Sep 2008 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 24,516 (78)

Abstract:

Loading...

Value, Price, Free cash flow, Equity cash flow, Capital cash flow, Book value, Market value

5.

WACC: Definition, Misconceptions and Errors

Number of pages: 8 Posted: 05 Jun 2010 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 22,688 (90)

Abstract:

Loading...

WACC, Required Return to Equity, Value of Tax Shields, Company Valuation, APV, Cost of Debt

6.

Índice Libro Valoración de Empresas y Sensatez (Company Valuation and Common Sense)

Number of pages: 16 Posted: 28 Jan 2013 Last Revised: 25 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 21,465 (99)

Abstract:

Loading...

Valuation, Free cash flow, Equity cash flow, Capital cash flow, Book value, Market value, PER, Goodwill, Required return to equity, Working capital requirements

7.

Three Residual Income Valuation Methods and Discounted Cash Flow Valuation

Number of pages: 12 Posted: 16 Jan 2002 Last Revised: 19 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 19,081 (118)
Citation 4

Abstract:

Loading...

Cash value added, EVA, Economic profit, Residual income valuation, Discounted cash flow valuation, Valuation

8.

Ten Badly Explained Topics in Most Corporate Finance Books

Downloads 18,777 ( 124)

Ten Badly Explained Topics in Most Corporate Finance Books

Number of pages: 13 Posted: 28 Apr 2012 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 17,820 (130)

Abstract:

Loading...

WACC, beta, equity premium, EVA, value of tax shields, required return to equity

Ten Badly Explained Topics in Most Corporate Finance Books

IESE Business School Working Paper No. 954
Number of pages: 15 Posted: 07 Jun 2012
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 957 (21,389)

Abstract:

Loading...

WACC, beta, equity premium, EVA, value of tax shields, required return to equity

9.

Market Risk Premium Used in 88 Countries in 2014: A Survey with 8,228 Answers

Number of pages: 18 Posted: 15 Jun 2014 Last Revised: 20 Jun 2014
Pablo Fernandez, Pablo Linares and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School and University of Navarra - University of Navarra, Students
Downloads 17,109 (145)

Abstract:

Loading...

equity premium; required equity premium; expected equity premium; historical equity premium

10.

Valuation Using Multiples: How Do Analysts Reach Their Conclusions?

Number of pages: 13 Posted: 17 Jul 2001 Last Revised: 19 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 17,028 (148)
Citation 4

Abstract:

Loading...

Multiples, Dispersion of multiples, PER, Relative multiples, Analysts' recommendations

11.

Valuation of Brands and Intellectual Capital

Number of pages: 19 Posted: 29 May 2001 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 16,056 (163)
Citation 8

Abstract:

Loading...

brand, brand value, brand value drivers, brand equity, intellectual capital, brand valuation, brand valuation process

12.

170 Errores en Valoraciones de Empresas (170 Errors in Company Valuations)

Number of pages: 47 Posted: 14 Feb 2007 Last Revised: 11 May 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 15,683 (178)
Citation 1

Abstract:

Loading...

company valuation, equity premium, valuation errors, valoracion de empresas

13.

Cash Flow Is a Fact: Net Income Is Just an Opinion

Number of pages: 10 Posted: 25 Sep 2002 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 15,579 (180)
Citation 3

Abstract:

Loading...

equity cash flow, free cash flow, capital cash flow, net income

14.

Valoración de empresas por descuento de flujos: 10 métodos y 7 teorías (Valuing Companies by Cash Flow Discounting: 10 Methods and 7 Theories)

Number of pages: 15 Posted: 12 Sep 2008 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 15,177 (187)

Abstract:

Loading...

discounted cash flows, APV, WACC, equity cash flow

15.

EVA and Cash Value Added Do NOT Measure Shareholder Value Creation

Number of pages: 10 Posted: 05 Jun 2001 Last Revised: 18 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 14,976 (194)
Citation 11

Abstract:

Loading...

Shareholder value creation, Shareholder return, Value creation, EVA, Cash value added, Economic profit, Management performance indicator, Valuation

16.

Optimal Capital Structure: Problems with the Harvard and Damodaran Approaches

Number of pages: 12 Posted: 22 May 2001 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 13,744 (216)
Citation 1

Abstract:

Loading...

Optimal capital structure, Required return to incremental equity cash flow, Incremental cost of debt, Required return on debt, Required return to equity, Adjusted present value, Return on assets, Return on equity, Weighted average cost of capital, Free cash flow

17.

Valoración de Empresas por Descuento de Flujos: lo fundamental y las Complicaciones Innecesarias (Valuing Companies by Cash Flow Discounting: Fundamental Ideas and Unnecessary Complications)

Number of pages: 11 Posted: 23 Jun 2012 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 13,600 (218)

Abstract:

Loading...

Valuation, discounted cash flow, equity premium, required equity premium, expected equity premium, beta, VTS

18.

Valuation of an Expropriated Company: The Case of YPF and Repsol in Argentina

Downloads 13,367 ( 221)

Valuation of an Expropriated Company: The Case of YPF and Repsol in Argentina

IESE Business School Working Paper No. WP-1055-E
Number of pages: 14 Posted: 17 Nov 2012 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 7,533 (665)

Abstract:

Loading...

valuation, expropriation, Argentina, YPF, Repsol

Valoracion de una expropiacion: YPF y Repsol en Argentina (Valuation of an Expropriated Company: The Case of YPF and Repsol in Argentina)

IESE Business School Working Paper No. WP-1055-E
Number of pages: 14 Posted: 06 Dec 2012 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,834 (1,054)

Abstract:

Loading...

valuation, expropriation, Argentina, YPF, Repsol

19.

CAPM: An Absurd Model

Number of pages: 17 Posted: 07 Oct 2014 Last Revised: 18 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 13,057 (239)
Citation 1

Abstract:

Loading...

CAPM; Expected beta; historical beta; required beta; Expected Market Risk Premium; Required Market Risk Premium; Expected Return to Equity; Required Return to Equity; Company Valuation

20.

119 Common Errors in Company Valuations

IESE Business School Working Paper No. 714
Number of pages: 27 Posted: 30 Oct 2007 Last Revised: 17 Oct 2017
Pablo Fernandez and Andrada Bilan
University of Navarra - IESE Business School and University of Navarra - IESE Business School
Downloads 12,917 (243)
Citation 2

Abstract:

Loading...

company valuation, valuation errors, valuation, historical beta, CAPM

21.

The Equity Premium in 150 Textbooks

Number of pages: 24 Posted: 14 Sep 2009 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 12,888 (245)
Citation 15

Abstract:

Loading...

equity premium, equity premium puzzle, expected equity premium

22.

WACC: definición, interpretaciones equivocadas y errores (WACC: Definition and Errors)

Number of pages: 9 Posted: 03 Jul 2010 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 12,075 (272)

Abstract:

Loading...

WACC, Required Return to Equity, Value of Tax Shields, Company Valuation, Cost of Debt

23.

205 Preguntas y Respuestas sobre Finanzas (205 Questions on Finance) (Spanish)

Number of pages: 43 Posted: 29 May 2010 Last Revised: 09 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 11,485 (302)

Abstract:

Loading...

Shareholder Value Creation, EVA, Book Value, Return, Valuation, Beta

24.

Valuing Companies by Cash Flow Discounting: Fundamental Relationships and Unnecessary Complications

IESE Business School Working Paper No. WP-1062-E
Number of pages: 14 Posted: 27 Jul 2012 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 11,082 (323)

Abstract:

Loading...

Valuation, discounted cash flow, equity premium, required equity premium, WACC, expected equity premium, beta, VTS

25.

La Prima de Riesgo del Mercado: Histórica, Esperada, Exigida e Implícita (Market Risk Premium)

Number of pages: 22 Posted: 27 Apr 2006 Last Revised: 16 Jan 2018
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 11,067 (325)
Citation 1

Abstract:

Loading...

required market risk premium, historical market risk premium, expected market risk premium, risk premium, equity premium, market premium, prima de riesgo

26.

Shareholder Value Creation: A Definition

Number of pages: 10 Posted: 30 May 2001 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 11,063 (326)
Citation 7

Abstract:

Loading...

Shareholder value creation; Created shareholder value; Increase of equity market value; Shareholder value added; Shareholder return; Required return to equity

27.

Valuing Real Options: Frequently Made Errors

Number of pages: 15 Posted: 20 Jul 2001 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 10,869 (335)
Citation 6

Abstract:

Loading...

real options, volatility, Black and Scholes, option replication

28.

Are Calculated Betas Good for Anything?

Number of pages: 22 Posted: 20 Feb 2004 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 10,787 (341)
Citation 32

Abstract:

Loading...

Beta, calculated betas

29.

Market Risk Premium Used in 56 Countries in 2011: A Survey with 6,014 Answers

Downloads 10,740 ( 346)
Citation 4

Market Risk Premium Used in 56 Countries in 2011: A Survey with 6,014 Answers

Number of pages: 14 Posted: 26 Apr 2011
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 9,325 (453)
Citation 4

Abstract:

Loading...

equity premium, required equity premium, expected equity premium, historical equity premium

Market Risk Premium Used in 56 Countries in 2011: A Survey with 6,014 Answers

IESE Business School Working Paper No. 920
Number of pages: 21 Posted: 21 Oct 2011
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 1,415 (11,670)
Citation 4

Abstract:

Loading...

equity premium, required equity premium, expected equity premium, historical equity premium

30.

Market Risk Premium and Risk Free Rate Used for 51 Countries in 2013: A Survey with 6,237 Answers

Number of pages: 19 Posted: 15 Jul 2006 Last Revised: 27 Jun 2013
Pablo Fernandez, Javier Aguirreamalloa and Pablo Linares
University of Navarra - IESE Business School, IESE Business School and University of Navarra, IESE Business School
Downloads 10,710 (348)

Abstract:

Loading...

equity premium, required equity premium, expected equity premium, historical equity premium, risk-free rate, heterogeneous investors

31.

Valoracion de Marcas e Intangibles (Brand Valuation)

Number of pages: 24 Posted: 27 Mar 2007 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 10,701 (351)
Citation 3

Abstract:

Loading...

brand, brand value, brand value drivers, brand equity, intellectual capital, brand valuation, brand valuation process

32.

Valoración y compra de RJR Nabisco (Valuation and Acquisition of RJR Nabisco)

Number of pages: 14 Posted: 17 Apr 2008 Last Revised: 17 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 9,944 (400)

Abstract:

Loading...

valuation, shareholder value creation, premium

33.

Discounted Cash Flow Valuation Methods: Examples of Perpetuities, Constant Growth and General Case

Number of pages: 20 Posted: 14 Jun 2005 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 9,809 (418)
Citation 1

Abstract:

Loading...

discounted cash flow valuation, cash flow valuation, value of tax shields, required return to equity

34.

Equity Premium: Historical, Expected, Required and Implied

Number of pages: 25 Posted: 27 Sep 2006 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 9,668 (426)
Citation 16

Abstract:

Loading...

equity premium, equity premium puzzle, required market risk premium, historical market risk premium, expected market risk premium, risk premium, market risk premium, market premium

35.

71 problemas sencillos de finanzas resueltos y 1.481 respuestas erróneas (71 Basic Finance Problems and 1.481 Wrong Answers)

Number of pages: 27 Posted: 15 Mar 2012 Last Revised: 09 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 9,145 (480)

Abstract:

Loading...

Cash flow, exam, NPV, free cash flow, WACC, equity cash flow

36.

El Peligro de utilizar Betas Calculadas (The Danger of Using Calculated Betas)

Number of pages: 17 Posted: 27 Apr 2006 Last Revised: 16 Jan 2018
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 9,108 (483)
Citation 1

Abstract:

Loading...

Beta, CAPM, historical beta, betas historicas

37.

How to Value a Seasonal Company Discounting Cash Flows

Number of pages: 16 Posted: 18 Jun 2003 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 8,988 (491)
Citation 2

Abstract:

Loading...

valuation of seasonal companies, seasonality, cash flow discounting

38.

Internet Valuations: The Case of Terra-Lycos

Number of pages: 12 Posted: 16 Apr 2001 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 8,784 (509)
Citation 6

Abstract:

Loading...

Internet, Valuation, Internet valuation

39.

Discount Rate (Risk-Free Rate and Market Risk Premium) Used for 41 Countries in 2015: A Survey

Number of pages: 16 Posted: 25 Apr 2015 Last Revised: 18 Oct 2017
Pablo Fernandez, Alberto Ortiz Pizarro and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School and University of Navarra - University of Navarra, Students
Downloads 8,530 (537)

Abstract:

Loading...

equity premium; required equity premium; expected equity premium; risk-free rate; heterogeneous expectations

40.

100 Questions About Finance (100 Preguntas Sobre Finanzas)

Number of pages: 25 Posted: 27 Feb 2008
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 8,316 (562)

Abstract:

Loading...

Value creation, shareholder value creation, EVA, book value, return

41.

Market Risk Premium and Risk-Free Rate used for 59 Countries in 2018: A Survey

Number of pages: 16 Posted: 23 Apr 2018
Pablo Fernandez, Vitaly Pershin and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School and University of Navarra - University of Navarra, Students
Downloads 8,094 (595)

Abstract:

Loading...

equity premium; required equity premium; expected equity premium; risk-free rate; heterogeneous expectations

42.

Valuation of Internet-Related Companies

Number of pages: 19 Posted: 15 Apr 2001 Last Revised: 19 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 8,049 (594)
Citation 2

Abstract:

Loading...

Internet, Valuation, Amazon, Microsoft

43.

β = 1 Does a Better Job than Calculated Betas

Number of pages: 17 Posted: 19 May 2009 Last Revised: 17 Oct 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 7,735 (644)
Citation 2

Abstract:

Loading...

beta, historical beta, calculated beta, adjusted beta, common sense

44.

Equivalence of the Different Discounted Cash Flow Valuation Methods: Different Alternatives for Determining the Discounted Value of Tax Shields and Their Implications for the Valuation

EFMA 2001 Lugano Meetings
Number of pages: 23 Posted: 09 Jan 2000 Last Revised: 16 Oct 2008
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 7,671 (655)
Citation 4

Abstract:

Loading...

valuation methods, WACC, cash flow discounting, Adjusted Present Value

45.

Beneficio y flujos. El beneficio es una decisión discutible, pero el cash flow es un hecho (Cash Flow Is a Fact: Net Income Is Just an Opinion)

Number of pages: 15 Posted: 28 Jul 2008 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 7,575 (671)

Abstract:

Loading...

Free Cash Flow, equity cash flow, net income, beneficio, flujo

46.

Market Risk Premium Used in 2010 by Analysts and Companies: A Survey with 2,400 Answers

Number of pages: 15 Posted: 19 May 2010 Last Revised: 24 May 2010
Pablo Fernandez and Javier del Campo Baonza
University of Navarra - IESE Business School and affiliation not provided to SSRN
Downloads 7,514 (681)
Citation 7

Abstract:

Loading...

market risk premium, required equity premium, expected equity premium, historical equity premium

47.

Betas Used by Professors: A Survey with 2,500 Answers

Number of pages: 22 Posted: 20 May 2009 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 7,179 (741)
Citation 1

Abstract:

Loading...

beta, historical beta, calculated beta, common sense

48.

Betas utilizadas por directivos y profesores europeos en 2009 (Betas Used by Companies and Professors in Europe: A Survey)

Number of pages: 19 Posted: 15 Jun 2009 Last Revised: 09 Jan 2018
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 7,129 (757)

Abstract:

Loading...

beta, historical beta, calculated beta, common sense

49.

Levered and Unlevered Beta

Number of pages: 16 Posted: 14 Mar 2002 Last Revised: 17 Oct 2008
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 7,054 (767)

Abstract:

Loading...

unlevered beta, levered beta, asset beta, value of tax shields, required return to equity, leverage cost

50.

La Prima de Riesgo del Mercado según 100 Libros (The Equity Premium in 100 Books)

Number of pages: 14 Posted: 25 Jul 2008 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 6,957 (780)

Abstract:

Loading...

equity premium, required market risk premium, historical market risk premium

51.

Endesa: valoraciones y OPA a 41 euros/acción en 2007 (Valuations of Endesa and Purchase at 41 Euros/Share in 2007)

Number of pages: 18 Posted: 11 May 2006 Last Revised: 16 Jan 2018
Pablo Fernandez and José Manuel Campa
University of Navarra - IESE Business School and University of Navarra - Madrid Campus - IESE Business School
Downloads 6,698 (835)

Abstract:

Loading...

Endesa, E.ON, Gas Natural, valuation, OPA

52.

Prima de riesgo del mercado utilizada para España: encuesta 2011 (The Equity Premium in Spain: Survey 2011)

Number of pages: 10 Posted: 26 Apr 2011 Last Revised: 16 Jan 2018
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 6,652 (846)
Citation 2

Abstract:

Loading...

equity premium, required market risk premium, historical market risk premium, expected market risk premium, market risk premium

53.

Valoración de opciones reales: dificultades, problemas y errores (Valuing Real Options: Difficulties and Errors)

Number of pages: 19 Posted: 12 Jul 2008 Last Revised: 17 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 6,569 (869)

Abstract:

Loading...

Real options, put, call, volatility

54.

Estructura óptima de capital y estructura de varias empresas (Optimal Capital Structure)

Number of pages: 12 Posted: 27 Feb 2011 Last Revised: 17 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 6,361 (918)

Abstract:

Loading...

Cash flow, Optimal capital structure, Incremental cost of debt, Required return on debt, Required return to equity

55.

Tres sentencias judiciales con varios errores sobre la valoración de El Corte Inglés (A True Story About Civil Courts and Company Valuation)

Number of pages: 21 Posted: 20 Jan 2010 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 6,165 (975)

Abstract:

Loading...

value of growth, value of growing opportunities, book value

56.

Valoracion de las acciones de Electrabun (Valuation of the Shares of an Electric Company)

Number of pages: 6 Posted: 11 Feb 2012 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 6,159 (978)

Abstract:

Loading...

Valuation, emerging county, errors in valuation, Free Cash Flow

57.

Valuation Methods and Shareholder Value Creation

VALUATION METHODS AND SHAREHOLDER VALUE CREATION, Academic Press, 2002
Number of pages: 13 Posted: 22 Nov 2004
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,958 (1,029)
Citation 69

Abstract:

Loading...

Free cash flow, WACC, equity cash flow, required return to equity, capital cash flows, APV, economic profit, EVA, value creation, VTS

58.

On the Instability of Betas: The Case of Spain

Number of pages: 16 Posted: 29 Feb 2004 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,831 (1,070)
Citation 26

Abstract:

Loading...

Beta, CAPM, beta-ranked portfolios, historical beta, expected beta

59.

Shareholder Value Creators in the S&P 500: 1991-2010

Number of pages: 11 Posted: 13 Feb 2011 Last Revised: 18 Oct 2017
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 5,813 (1,076)
Citation 1

Abstract:

Loading...

Shareholder value creation, created shareholder value, equity market value, shareholder value added, shareholder return, required return to equity

60.

Valoración de empresas estacionales por descuento de flujos (How to Value a Seasonal Company Discounting Cash Flows)

Number of pages: 12 Posted: 20 Apr 2009 Last Revised: 17 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,796 (1,082)

Abstract:

Loading...

Cash flow, seasonal companies, monthly data

61.

Market Risk Premium Used in 2008 by Professors: A Survey with 1,400 Answers

Number of pages: 21 Posted: 16 Feb 2009 Last Revised: 21 Apr 2009
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,681 (1,119)
Citation 14

Abstract:

Loading...

equity premium puzzle, equity premium, market risk premium, survey

62.

Beneficio, flujos, balance reducido y RNC - resta negociada de cuadre (Net Income, Cash Flows, Reduced Balance Sheet and Working Capital Requirements)

Number of pages: 10 Posted: 14 Apr 2006 Last Revised: 17 Jan 2018
Pablo Fernandez, Isabel Fernández Acín and Pablo Linares
University of Navarra - IESE Business School, University of Navarra - University of Navarra, Students and University of Navarra, IESE Business School
Downloads 5,622 (1,140)

Abstract:

Loading...

equity cash flow, free cash flow, net income, beneficio, flujo

63.

Valoraciones de Amazon, Terra y empresas de Internet (Valuations of Amazon, Terra and Internet Companies)

Number of pages: 22 Posted: 03 Oct 2006 Last Revised: 17 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,621 (1,140)
Citation 3

Abstract:

Loading...

Internet, Valuation, Internet valuation

64.

La inflación disminuye el valor de las empresas (How Inflation Destroys Value)

Number of pages: 11 Posted: 29 Apr 2008 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,576 (1,149)

Abstract:

Loading...

company valuation, valuation errors, valuation, inflation

65.

El valor de las Acciones sin Voto: un caso real (The Value of Non-Voting Shares)

Number of pages: 10 Posted: 24 Jun 2011 Last Revised: 16 Jan 2018
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 5,435 (1,193)

Abstract:

Loading...

value of voting rights, voting rights, valor del derecho a voto, valor de acciones sin voto

66.

75 Common and Uncommon Errors in Company Valuation

Number of pages: 28 Posted: 24 Jun 2003
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,412 (1,201)
Citation 4

Abstract:

Loading...

valuation, company valuation, valuation errors

67.

Ejemplos de burbujas: Telepizza y otras 6 empresas (Telepizza and Boston Chicken: Examples of Value Destruction)

Number of pages: 21 Posted: 12 Dec 2006 Last Revised: 17 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,400 (1,210)

Abstract:

Loading...

Value creation, company valuation, value destruction, analysts

68.

Análisis del trabajo de los analistas y de los gestores de fondos (Analysts and Fund Managers)

Number of pages: 23 Posted: 25 Jul 2004 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,284 (1,261)

Abstract:

Loading...

Valuation, company valuation, valuation errors

69.

Una respuesta al caso Valoracion de las acciones de ELECTRABUN (An Answser to Valuation of the Shares of an Electric Company)

Number of pages: 10 Posted: 20 Feb 2012 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,234 (1,275)

Abstract:

Loading...

valuation, emerging county, errors in valuation, Free Cash Flow

70.

US Market Risk Premium Used in 2011 by Professors, Analysts and Companies: A Survey with 5.731 Answers

Number of pages: 17 Posted: 11 Apr 2011
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 5,215 (1,282)
Citation 7

Abstract:

Loading...

equity premium, required equity premium, expected equity premium, historical equity premium

71.

18 Topics Badly Explained by Many Finance Professors

Number of pages: 22 Posted: 27 Nov 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 5,097 (1,345)

Abstract:

Loading...

WACC, Expected and the Required Rates of Return, Sharpe Ratio, CAPM

72.

Madera Inc: Significado de Fondos Propios y Beneficio (Meaning of Net Worth and Net Income)

Number of pages: 8 Posted: 18 Apr 2013 Last Revised: 17 Jan 2018
Pablo Fernandez, Isabel Fernández Acín and Pablo Linares
University of Navarra - IESE Business School, University of Navarra - University of Navarra, Students and University of Navarra, IESE Business School
Downloads 4,971 (1,400)

Abstract:

Loading...

net income, net worth, fondos propios, beneficios

73.

Utilidad y limitaciones de las valoraciones por múltiplos (Valuations with Multiples)

Number of pages: 9 Posted: 25 Jul 2006 Last Revised: 17 Jan 2018
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 4,914 (1,432)

Abstract:

Loading...

Multiplos, aumento del valor para los accionistas, rentabilidad para los accionistas

74.

10 Errores frecuentes de algunos Abogados sobre Finanzas y Contabilidad (10 Errors of Lawyers About Finance and Accounting)

Number of pages: 13 Posted: 15 Apr 2014 Last Revised: 17 Jan 2018
Pablo Fernandez, Isabel Fernández Acín and Pablo Linares
University of Navarra - IESE Business School, University of Navarra - University of Navarra, Students and University of Navarra, IESE Business School
Downloads 4,866 (1,450)

Abstract:

Loading...

valuation errors, cash flow, net income, lawyer

75.

Valuation of the Shares after an Expropriation: The Case of ElectraBul

Number of pages: 5 Posted: 30 Dec 2012 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 4,501 (1,665)

Abstract:

Loading...

valuation, emerging county, errors in valuation, Free Cash Flow, electric

76.

Price to Earnings Ratio, Value to Book Ratio and Growth

Number of pages: 19 Posted: 12 Feb 2013 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 4,430 (1,722)

Abstract:

Loading...

value, price, book value, market value, PER, Price to Book

77.

Preguntas para consejeros sobre el dinero de la empresa (Questions for Board Members)

Number of pages: 6 Posted: 29 Jul 2011 Last Revised: 17 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 4,410 (1,741)

Abstract:

Loading...

beneficio, cash flow, net income, flujo, consejeros, Board Members

78.

Market Risk Premium Used in 2010 by Professors: A Survey with 1,500 Answers

Number of pages: 15 Posted: 16 May 2010 Last Revised: 17 May 2010
Pablo Fernandez and Javier del Campo Baonza
University of Navarra - IESE Business School and affiliation not provided to SSRN
Downloads 4,365 (1,772)
Citation 7

Abstract:

Loading...

market risk premium, required equity premium, expected equity premium, historical equity premium

79.

A Solution to 'Valuation of the Shares after an Expropriation: The Case of Electrabul'

Number of pages: 11 Posted: 15 Feb 2013 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 4,336 (1,790)

Abstract:

Loading...

valuation, emerging county, errors in valuation, Free Cash Flow, electric company

80.

1959 valoraciones de la expropiacion del 51% d YPF (Valuations of the Expropriation of YPF)

Number of pages: 31 Posted: 23 Jan 2013 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 4,185 (1,889)

Abstract:

Loading...

valuation, expropriation, Argentina, YPF, Repsol

81.

CAPM: The Model and 307 Comments About It

Number of pages: 46 Posted: 14 Nov 2014 Last Revised: 18 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 4,158 (1,916)
Citation 1

Abstract:

Loading...

CAPM; Expected beta; historical beta; required beta; Expected Market Risk Premium; Required Market Risk Premium; Expected Return to Equity; Required Return to Equity

82.

CAPM: un modelo absurdo (CAPM: An Absurd Model)

Number of pages: 16 Posted: 23 Sep 2014 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 4,037 (2,019)

Abstract:

Loading...

CAPM; Beta; Calculated beta; Market risk premium

83.

Dividends and Share Repurchases

Number of pages: 11 Posted: 12 Feb 2013 Last Revised: 19 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,846 (2,192)

Abstract:

Loading...

value, price, dividends, Share Repurchases, equity cash flow

84.

How Inflation Destroys Value

Number of pages: 11 Posted: 12 Feb 2013 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,835 (2,209)

Abstract:

Loading...

Value, inflation, free cash flow, equity cash flow

85.

Interest Rates and Company Valuation

Number of pages: 9 Posted: 12 Feb 2013 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,824 (2,222)

Abstract:

Loading...

Value, Interest rates, Yield curve, Treasuries

86.

Equivalence of Ten Different Methods for Valuing Companies by Cash Flow Discounting

EFMA 2004 Basel Meetings Paper
Number of pages: 25 Posted: 06 May 2004 Last Revised: 19 Oct 2008
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,713 (2,347)
Citation 9

Abstract:

Loading...

87.

A More Realistic Valuation: APV and WACC with Constant Book Leverage Ratio

IESE Business School Working Paper No. 715
Number of pages: 15 Posted: 21 Nov 2006 Last Revised: 19 Jun 2012
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,646 (2,421)
Citation 12

Abstract:

Loading...

value of tax shields, required return to equity, WACC, company valuation, APV, cost of equity

88.

It Has Been Very Easy to Beat the S&P500 in 2000-2018: Several Examples

Number of pages: 15 Posted: 30 Jun 2018
Pablo Fernandez and Pablo Fernandez Acin
University of Navarra - IESE Business School and Independent
Downloads 3,602 (2,470)

Abstract:

Loading...

Unweighted Indexes, Market Unefficient, Sharpe Ratio, Small Companies

89.

1,959 Valuations of the YPF Shares Expropriated to Repsol

Number of pages: 15 Posted: 02 Mar 2013 Last Revised: 17 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,593 (2,476)

Abstract:

Loading...

valuation, expropriation, Argentina, YPF, Repsol

90.

Valoración de empresas por descuento de flujos: ejemplos sencillos (Discounted Cash-Flow Valuation. Easy Examples)

Number of pages: 11 Posted: 29 Apr 2014 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,585 (2,486)

Abstract:

Loading...

discounted cash flows, APV, WACC, Equity Cash Flow, beta, valuation

91.

The Equity Premium in 100 Textbooks

Number of pages: 25 Posted: 25 Jun 2008 Last Revised: 06 Feb 2009
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,488 (2,597)
Citation 20

Abstract:

Loading...

equity premium, required market risk premium, historical market risk premium

92.

339 Questions on Valuation and Finance

Number of pages: 17 Posted: 23 Nov 2013 Last Revised: 18 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,482 (2,606)

Abstract:

Loading...

flow, net income, intangibles, required return, simple return, weighted return, market premium, beta, value, book value, value creation, EVA, FCF, WACC

93.

Bankia Y Caja Madrid (Bankia and Caja Madrid)

Number of pages: 24 Posted: 24 Jan 2007 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,456 (2,645)

Abstract:

Loading...

Bankia, participaciones preferentes, FROB, Banco de España, CNMV, verdad, responsabilidad

94.

100 Questions on Finance

Number of pages: 24 Posted: 08 Apr 2008
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,349 (2,807)

Abstract:

Loading...

cash flow; net income, intangibles, required return, simple return, weighted return, market premium, beta, value, book value, value creation, EVA, FCF, WACC

95.

Financial Literature About Discounted Cash Flow Valuation

IESE Business School Working Paper No. 606
Number of pages: 24 Posted: 14 Jun 2005
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,323 (2,851)
Citation 2

Abstract:

Loading...

Discounted cash flow valuation, cash flow valuation, value of tax shields, present value of the net increases of debt, required return to equity

96.

Is It Ethical to Teach That Beta and CAPM Explain Something?

Number of pages: 37 Posted: 19 Jun 2017 Last Revised: 12 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,276 (2,922)

Abstract:

Loading...

Ethics, Beta, Models, CAPM, Sharpe, Fama, Required Return, Expected Return, Risk, Recipes

97.

Equivalence of the Apv, Wacc and Flows to Equity Approaches to Firm Valuation

Number of pages: 28 Posted: 29 Jun 2002
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,219 (3,019)
Citation 1

Abstract:

Loading...

98.

La insolvencia de Lehman Brothers en septiembre de 2008: sobre su previsibilidad y sobre algunos 'profetas a posteriori' (About the Unexpected Fall of Lehman Brothers)

Number of pages: 16 Posted: 21 Mar 2012 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,044 (3,313)

Abstract:

Loading...

Lehman, CDS, analysts, rating

99.

21 Bonos Estructurados y 9 Participaciones Preferentes (21 Structured Bonds and 9 Preferred Shares)

Number of pages: 27 Posted: 26 Mar 2012 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 3,040 (3,325)

Abstract:

Loading...

structured bonds, Spain, preferred shares, lawyers

100.

The Correct Value of Tax Shields. An Analysis of 23 Theories

Number of pages: 23 Posted: 21 Jul 2001
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,947 (3,487)
Citation 9

Abstract:

Loading...

Value of the tax shield; Tax shield valuation; APV; Present value of taxes; Required return to taxes; Taxes; Debt value; Creation

101.

El PER, la Rentabilidad Exigida y el Crecimiento Esperado (PER, Required Return and Expected Growth)

Number of pages: 6 Posted: 30 Apr 2014 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,939 (3,507)

Abstract:

Loading...

PER, required return, expected growth, rentabilidad exigida, crecimiento esperado

102.

Madera Inc: Significado de las Cuentas de Resultados y de los Balances (Meaning of the P&L and of the Balance Sheet)

Number of pages: 5 Posted: 28 May 2014 Last Revised: 17 Jan 2018
Pablo Fernandez, Isabel Fernández Acín and Pablo Linares
University of Navarra - IESE Business School, University of Navarra - University of Navarra, Students and University of Navarra, IESE Business School
Downloads 2,903 (3,584)

Abstract:

Loading...

cuenta de resultados, balance, P&L, Balance Sheet, net income, money, Net Worth

103.

The Market Portfolio is NOT Efficient: Evidences, Consequences and Easy to Avoid Errors

Number of pages: 23 Posted: 06 Mar 2016 Last Revised: 18 Oct 2017
Pablo Fernandez, Jose Paulo Carelli and Alberto Ortiz Pizarro
University of Navarra - IESE Business School, ISE Business School and University of Navarra, IESE Business School
Downloads 2,858 (3,670)

Abstract:

Loading...

Unweighted indexes, Market unefficient, CAPM, Sharpe ratio, efficient portfolio

104.

Market Risk Premium: Required, Historical and Expected

Number of pages: 27 Posted: 12 Oct 2004
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,801 (3,811)
Citation 5

Abstract:

Loading...

Required market risk,premium, historical market risk premium, expected market risk premium, risk premium, equity premium, market premium

105.

80 Common Errors in Company Valuation

Number of pages: 27 Posted: 13 May 2004
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,791 (3,834)
Citation 4

Abstract:

Loading...

Company valuation, valuation errors, valuation

106.

Shareholder Value Creators and Shareholder Value Destroyers in USA: Year 2001

Number of pages: 22 Posted: 04 Feb 2002
Pablo Fernandez and Laura Reinoso
University of Navarra - IESE Business School and IESE Business School - University of Navarra
Downloads 2,686 (4,094)
Citation 1

Abstract:

Loading...

Shareholder value creation; Created shareholder value; Equity market value; Shareholder value added; Shareholder return; Required return to equity; EVA

107.

102 Errors in Company Valuations (102 Errores En Valoraciones De Empresas)

Number of pages: 38 Posted: 14 Apr 2006
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,664 (4,152)

Abstract:

Loading...

108.

Liberbank, las Preferentes de Caja Cantabria y el Banco de España (Liberbank, Preferred and Bank of Spain)

Number of pages: 68 Posted: 15 Jun 2006 Last Revised: 24 Jul 2013
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,660 (4,166)

Abstract:

Loading...

Liberbank, participaciones preferentes, FROB, Banco de España, marca España, CNMV, verdad, responsabilidad, código penal, engaño, mentira, fraude, falsedad en documento mercantil, shareholder value added

109.

Algunos Swaps de Tipos de Interés (Some Interest Rate Swaps)

IESE Business School Working Paper No. WP-1063
Number of pages: 24 Posted: 19 Dec 2012 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,621 (4,275)

Abstract:

Loading...

swap, interest rate swap, Spain, bets, interest rate risk

110.

Facts and Questions About the Crisis in Spain (in Spanish)

Number of pages: 15 Posted: 09 Mar 2011
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,616 (4,279)

Abstract:

Loading...

Crisis, unemployment, common sense, truth, responsibility

111.

Valoración de Bonos del Estado: Valor Actual y TIR (Valuation of Government Bonds: Present Value and IRR)

Number of pages: 11 Posted: 29 Apr 2014 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,508 (4,586)

Abstract:

Loading...

Bond, Government Bond, present value, internal rate of return

112.

Meaning of the P&L and of the Balance Sheet: Madera Inc.

Number of pages: 12 Posted: 22 Oct 2015 Last Revised: 18 Oct 2017
Pablo Fernandez, Isabel Fernández Acín and Alberto Ortiz Pizarro
University of Navarra - IESE Business School, University of Navarra - University of Navarra, Students and University of Navarra, IESE Business School
Downloads 2,492 (4,629)

Abstract:

Loading...

net income, equity, book value of equity, money, dictionary

113.

Bancos españoles en 1991-2013. Rentabilidad para los accionistas: simple y ponderada (Banks in Spain 1991-2013: All-Period and All-Shareholders Returns)

Number of pages: 24 Posted: 18 Feb 2014 Last Revised: 24 Jan 2018
Pablo Fernandez, Pablo Linares and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School and University of Navarra - University of Navarra, Students
Downloads 2,483 (4,676)

Abstract:

Loading...

Banks, Spain, all-period return, all-shareholder return, Santander, BBVA, Popular, Bankinter, Sabadell

114.

Conceptos básicos sobre derivados: Opciones, Forwards y Futuros (Options, Forwards and Futures: Basic Concepts)

Number of pages: 13 Posted: 10 Jul 2014 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,474 (4,707)

Abstract:

Loading...

Call, Put, Forward, Future, Arbitrage, Arbitraje

115.

All-Shareholder Return, All-Period Returns and Total Index Return

Number of pages: 12 Posted: 23 Nov 2013 Last Revised: 18 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,458 (4,765)

Abstract:

Loading...

all-shareholder return; shareholder return; unique shareholder; all-period shareholder return

116.

Huge Dispersion of the Risk-Free Rate and Market Risk Premium Used by Analysts in USA and Europe in 2015

Number of pages: 14 Posted: 03 Nov 2015 Last Revised: 12 Oct 2017
Pablo Fernandez, Alberto Ortiz Pizarro and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School and University of Navarra - University of Navarra, Students
Downloads 2,448 (4,798)

Abstract:

Loading...

analyst, market risk premium; required equity premium; risk-free rate

117.

Analisis de Bonos: Duracion y Convexidad (Bond Analysis: Duration and Convexity)

Number of pages: 11 Posted: 23 May 2014 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,403 (4,944)

Abstract:

Loading...

duracion, convexidad, duration, convexity, bond, coupon payment

118.

Balance y Cuenta de Resultados de la Familia Sanz (Balance Sheet and P&L of the Family Sanz)

Number of pages: 9 Posted: 01 May 2015 Last Revised: 17 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,387 (4,992)

Abstract:

Loading...

cobros y pagos; ingresos y gastos; costes; beneficio; ahorro; familia; net income, savings

119.

El descenso bursátil de 2008 (The Stock Market Crash of 2008)

Number of pages: 10 Posted: 13 Oct 2015
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 2,328 (5,211)

Abstract:

Loading...

Share price, Maximum, Minimum, IBEX 35

120.

Abengoa y su Auditoría: Algunas Preguntas (Abengoa and the Audited Accounts: Some Questions)

Number of pages: 27 Posted: 18 Dec 2015 Last Revised: 24 Jan 2018
Pablo Fernandez, Alberto Ortiz Pizarro and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School and University of Navarra - University of Navarra, Students
Downloads 2,308 (5,282)

Abstract:

Loading...

Abengoa, Auditors, Value, cash flow, perimetro de consolidacion

121.

Informacion adicional para saber algo de un Banco (Additional Financial Statements to Know Something About Any Bank)

Number of pages: 18 Posted: 24 Feb 2015 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,218 (5,647)

Abstract:

Loading...

Bank, Loan, Cash flow, Interest, Accrual, Collection

122.

Rentabilidad De Los Fondos De Inversión En España 1998-2013 (Return of Mutual Funds in Spain 1998-2013)

Number of pages: 13 Posted: 22 Feb 2014 Last Revised: 27 May 2017
Pablo Fernandez, Pablo Linares and Pablo Fernandez Acin
University of Navarra - IESE Business School, University of Navarra, IESE Business School and Independent
Downloads 2,216 (5,647)

Abstract:

Loading...

Mutual Funds, Spain, Mutual Fund Performance, Fondos de Inversion

123.

The Value of Tax Shields is Not Equal to the Present Value of Tax Shields

EFMA 2003 Helsinki Meetings
Number of pages: 22 Posted: 05 May 2003 Last Revised: 05 Aug 2008
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,215 (5,656)
Citation 64

Abstract:

Loading...

value of tax shields, required return to equity, leverage cost, unlevered beta, levered beta

124.

The Value of Tax Shields is Not Equal to the Present Value of Tax Shields: A Correction

Number of pages: 8 Posted: 03 Feb 2005
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,199 (5,723)
Citation 60

Abstract:

Loading...

Value of tax shields, present value of the net increases of debt, required return to equity

125.

First Question About the Crisis in Spain (Primera Pregunta Sobre la Crisis de España)

Number of pages: 27 Posted: 17 Apr 2012 Last Revised: 28 Apr 2012
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,178 (5,824)

Abstract:

Loading...

Crisis, unemployment, common sense, truth, responsibility, Bank of Spain

126.

Liberbank: expropiación ilegal de €484 millones. (Liberbank: Preferred Without Preference. An Expropriation of About €484 Million)

Number of pages: 19 Posted: 29 Jun 2014 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,168 (5,866)

Abstract:

Loading...

Expropiación, Expropriation, Caja Cantabria, Caja Asturias, Caja Extremadura, Liberbank, CNMV, FROB, Banco de España

127.

Iron West: Analisis de una Inversion (Iron West: Investment Analysis)

Number of pages: 4 Posted: 23 May 2014 Last Revised: 17 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,061 (6,382)

Abstract:

Loading...

inversión, analisis de inversiones, investment analysis, required return, present value

128.

Rentabilidad y creación de valor de 121 empresas españolas hasta el 31 de octubre de 2008 (Shareholder Return of Spanish Companies in 2008)

Number of pages: 13 Posted: 09 Apr 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 2,050 (6,426)

Abstract:

Loading...

Shareholder Value Creation, Spain, Shareholder return

129.

Bonos Singulares: Perpetuos, 'Bella Durmiente,' 'Matusalén,' Basura... (Singular Bonds: Perpetuals, Matusalem, Junk Bonds...)

Number of pages: 6 Posted: 23 May 2014 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,026 (6,551)

Abstract:

Loading...

perpetual bond, Matusalem bond, zero coupon bond, duration

130.

Shareholder Value Creation in Europe. Eurostoxx 50: 1997-2003

Number of pages: 23 Posted: 13 Apr 2004
Pablo Fernandez and Alvaro Villanueva
University of Navarra - IESE Business School and University of Navarra - IESE Business School
Downloads 2,023 (6,562)
Citation 1

Abstract:

Loading...

Shareholder value creation, created shareholder value, shareholder value added, shareholder return

131.

Net Income, Cash Flows, Reduced Balance Sheet and WCR (Working Capital Requirements)

Number of pages: 17 Posted: 22 Oct 2015 Last Revised: 18 Oct 2017
Pablo Fernandez, Isabel Fernández Acín and Alberto Ortiz Pizarro
University of Navarra - IESE Business School, University of Navarra - University of Navarra, Students and University of Navarra, IESE Business School
Downloads 2,008 (6,654)

Abstract:

Loading...

Equity Cash Flow, net income, money, Working Capital Requirements

132.

A Case of Insider Trading in Spain (in Spanish)

Number of pages: 19 Posted: 30 Jul 2009 Last Revised: 09 Sep 2009
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 2,001 (6,701)

Abstract:

Loading...

insider trading, judges, Spain, indirect transactions

133.

Discount Rate (Risk-Free Rate and Market Risk Premium) Used for 41 Countries in 2017: A Survey

Number of pages: 15 Posted: 19 Apr 2017
Pablo Fernandez, Vitaly Pershin and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School and University of Navarra - University of Navarra, Students
Downloads 1,980 (6,844)

Abstract:

Loading...

Market Risk Premium; Equity Premium; Required Equity Premium; Expected Equity Premium; Historical Equity Premium

134.

A General Formula for the Wacc: A Correction

Number of pages: 6 Posted: 05 Dec 2006
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,980 (6,818)
Citation 3

Abstract:

Loading...

WACC, required return to equity, value of tax shields, company valuation, APV, cost of equity

135.

Shareholder Value Creation of Microsoft and Ge

Number of pages: 16 Posted: 29 Jun 2004
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,970 (6,893)
Citation 10

Abstract:

Loading...

Shareholder value added, shareholder value creation, created shareholder value

136.

96 Common Errors in Company Valuations

Number of pages: 29 Posted: 07 Apr 2006
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 1,966 (6,915)
Citation 3

Abstract:

Loading...

company valuation, valuation errors, valuation

137.

Meaning of Net Income and Shareholders’ Equity

Number of pages: 16 Posted: 25 Oct 2015 Last Revised: 18 Oct 2017
Pablo Fernandez, Isabel Fernández Acín and Alberto Ortiz Pizarro
University of Navarra - IESE Business School, University of Navarra - University of Navarra, Students and University of Navarra, IESE Business School
Downloads 1,939 (7,106)

Abstract:

Loading...

Book Value, Free cash flow, Equity cash flow, Capital cash flow, Book value, Market value, Net Income, Working capital requirements

138.

Cinco reestructuraciones: Thorn EMI, United Air Lines, Sealed Air Corp., Florida Power & Light y Banesto (Five Financial Restructurings: Thorn EMI, United Air Lines, Sealed Air Corp., Florida Power & Light and Banesto)

Number of pages: 23 Posted: 01 May 2014 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,920 (7,243)

Abstract:

Loading...

restructuring, negative book value, fondos propios negativos

139.

Liberbank y las Preferentes de Caja Cantabria: derecho y sensatez (Liberbank and the Preferred Shares of Caja Cantabria: Law and Common Sense)

Number of pages: 23 Posted: 29 Apr 2014 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,875 (7,529)

Abstract:

Loading...

Caja Cantabria, Caja Asturias, Caja Extremadura, Liberbank, auditor

140.

Return of Mutual Funds in Spain 1991-2009 (Rentabilidad de los Fondos de Inversión en España 1991-2009) (Spanish)

Number of pages: 23 Posted: 29 Jan 2010
Pablo Fernandez and Javier del Campo Baonza
University of Navarra - IESE Business School and affiliation not provided to SSRN
Downloads 1,863 (7,597)
Citation 3

Abstract:

Loading...

Mutual Funds, Spain, Benchmark, Mutual Fund Performance

141.

El Corte Inglés, Mercadona, DIA y Amazon: Análisis de Balances y Cuentas de Resultados de Cuatro Empresas (Analysis of Balance Sheets and P&Ls of Four Companies)

Number of pages: 18 Posted: 09 Dec 2015 Last Revised: 24 Jan 2018
Pablo Fernandez, Alberto Ortiz Pizarro and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School and University of Navarra - University of Navarra, Students
Downloads 1,852 (7,696)

Abstract:

Loading...

net income, beneficio, tesorería, cash, balance reducido, reduced balance sheet

142.

Shareholder Value Creators and Shareholder Value Destroyers in USA: Year 2000

Number of pages: 20 Posted: 06 Jun 2001
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,823 (7,903)
Citation 1

Abstract:

Loading...

Shareholder value creation; Created shareholder value; Equity market value; Shareholder value added; Shareholder return; Required return to equity; EVA

143.

Value of Tax Shields (VTS): 3 Theories with 'Some' Sense

Number of pages: 11 Posted: 15 Jan 2015 Last Revised: 18 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,809 (8,028)

Abstract:

Loading...

value of tax shields, VTS, required return to equity, WACC, company valuation, APV, cost of equity

144.

23 errores y faltas de sensatez de algunos Abogados del Estado (23 Errors of some State Lawyers)

Number of pages: 14 Posted: 11 Jul 2015 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,750 (8,444)

Abstract:

Loading...

Valor de las acciones, beneficio, preferencia, equity value, net income

145.

Contabilidad: Qué Dice y qué no Dice (Accounting: What It Is and What It Is Not)

Number of pages: 18 Posted: 19 Jun 2017 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,678 (9,056)

Abstract:

Loading...

Net Income, Equity Cash Flow, Accounting, Money

146.

Mutual Funds in Spain (Rentabilidad de los Fondos de Inversion en 1991-2006)

Number of pages: 21 Posted: 02 May 2007
Pablo Fernandez, Jose M. Carabias and Lucia de Miguel
University of Navarra - IESE Business School, London School of Economics & Political Science (LSE) - Department of Economics and University of Navarra - IESE Business School
Downloads 1,672 (9,103)
Citation 3

Abstract:

Loading...

mutual funds, Spain, benchmark, mutual fund performance

147.

Rentabilidad de los Fondos de Pensiones en España, 2001-2011(Pension Funds in Spain, 2001-2011)

IESE Business School Working Paper No. WP-1060
Number of pages: 26 Posted: 07 Feb 2012
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 1,668 (9,146)

Abstract:

Loading...

pension funds, mutual funds, INVERCO, Spain, benchmark

148.

IBEX 35: 1991-2010 - Value Creation and Return

Number of pages: 16 Posted: 11 Jan 2011 Last Revised: 23 Jan 2011
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 1,630 (9,474)

Abstract:

Loading...

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

149.

Equity Mutual Funds in Spain (Fondos de Inversión de Renta Variable Nacional 1991-2006)

Number of pages: 19 Posted: 10 May 2007
Pablo Fernandez, Jose M. Carabias and Lucia de Miguel
University of Navarra - IESE Business School, London School of Economics & Political Science (LSE) - Department of Economics and University of Navarra - IESE Business School
Downloads 1,598 (9,805)
Citation 9

Abstract:

Loading...

Spain, equity mutual funds, fondos de inversión, CNMV, INVERCO, benchmark, apreciación de los fondos, TER

150.

Rentabilidad De Los Fondos De Pensiones En España. 1999-2014 (Return of Pension Funds in Spain. 1999-2014)

Number of pages: 13 Posted: 28 Feb 2015 Last Revised: 19 May 2015
Pablo Fernandez, Alberto Ortiz Pizarro, Pablo Fernandez Acin and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School, Independent and University of Navarra - University of Navarra, Students
Downloads 1,561 (10,214)

Abstract:

Loading...

pension funds, mutual funds, INVERCO, Spain, fondos pensiones

151.

Fondos de Inversion, 1991-2007 (Mutual Funds in Spain, 1991-2007)

Number of pages: 24 Posted: 25 Feb 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 1,529 (10,507)
Citation 6

Abstract:

Loading...

mutual funds, Spain, benchmark, mutual fund performance

152.

Descensos de las cotizaciones de 154 empresas españolas 1991-2008 (Highs and Lows of 154 Spanish Companies)

Number of pages: 21 Posted: 17 Apr 2008 Last Revised: 17 Oct 2015
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 1,490 (10,969)

Abstract:

Loading...

Share price, Maximum, Minimum

153.

Rentabilidad de los Fondos de Pensiones en España. 2002-2017 (Return of Pension Funds in Spain. 2002-2017)

Number of pages: 24 Posted: 17 Feb 2018
Pablo Fernandez, Pablo Fernandez Acin and Isabel Fernández Acín
University of Navarra - IESE Business School, Independent and University of Navarra - University of Navarra, Students
Downloads 1,472 (11,215)

Abstract:

Loading...

Pension Funds, Mutual Funds, INVERCO, Spain, Fondos Pensiones

154.

A Problem With My Van (Un Problema con mi Furgoneta)

Number of pages: 8 Posted: 30 May 2007
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,436 (11,622)

Abstract:

Loading...

spare key, customer service, ethical precepts, Ethics Committee, action plan

155.

Creación de Valor de las Empresas Españolas en 2007 (Shareholder Value Creation of 125 Spanish Companies in 2007)

Number of pages: 22 Posted: 21 Jan 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 1,427 (11,744)
Citation 1

Abstract:

Loading...

Shareholder Value Creation, Spain, Shareholder return

156.

Dilema Familiar moral sobre Impuestos y Respuestas de Lectores (Tax Dilemma About Family Taxes and Answers from Readers)

Number of pages: 50 Posted: 25 Jan 2016 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,426 (11,772)

Abstract:

Loading...

Taxes, Spain, Marriage deductions, ethics, law and ethics

157.

Rentabilidad De Los Fondos De Inversión En España, 2000-2015 (Return of Mutual Funds in Spain, 2000-2015)

Number of pages: 14 Posted: 25 Jan 2016 Last Revised: 31 Jan 2016
Pablo Fernandez, Alberto Ortiz Pizarro, Pablo Fernandez Acin and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School, Independent and University of Navarra - University of Navarra, Students
Downloads 1,420 (11,863)

Abstract:

Loading...

Mutual Funds, Spain, Mutual Fund Performance, Fondos de Inversion

158.

IBEX 35: 1992-2007

Number of pages: 20 Posted: 17 Jan 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 1,420 (11,846)
Citation 1

Abstract:

Loading...

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

159.

Ranking of the Mutual Fund Industry in Spain: 1991-2010 (Ranking de Gestoras de Fondos de Inversión) (In Spanish)

Number of pages: 10 Posted: 26 Jan 2011
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 1,388 (12,304)

Abstract:

Loading...

Mutual Fund Industry, Mutual Funds, Spain, Mutual Fund Performance

160.

Fondos de Pensiones en España, 1991-2007 (Pension Funds in Spain, 1991-2007)

Number of pages: 24 Posted: 04 Mar 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 1,376 (12,499)

Abstract:

Loading...

pension funds, fondos de pensiones, fondos de inversion, INVERCO, Spain, benchmark

161.

Pension Funds in Spain, 1994-2009 (Fondos De Pensiones)

Number of pages: 22 Posted: 01 Mar 2010
Pablo Fernandez and Javier del Campo Baonza
University of Navarra - IESE Business School and affiliation not provided to SSRN
Downloads 1,375 (12,514)

Abstract:

Loading...

pension funds, mutual funds, INVERCO, Spain, benchmark

162.

Opciones, Forwards y Futuros (Options, Forwards and Futures)

Number of pages: 22 Posted: 12 Jul 2008 Last Revised: 18 Oct 2013
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,347 (12,917)

Abstract:

Loading...

Option, put, call, future, forward

163.

Rentabilidad de los Fondos de Pensiones en España. 2000-2015 (Return of Pension Funds in Spain. 2000-2015)

Number of pages: 20 Posted: 30 Jan 2016 Last Revised: 24 Jan 2018
Pablo Fernandez, Alberto Ortiz Pizarro, Pablo Fernandez Acin and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School, Independent and University of Navarra - University of Navarra, Students
Downloads 1,344 (12,972)

Abstract:

Loading...

pension funds, mutual funds, INVERCO, Spain, fondos pensiones

164.

IBEX 35: 1991-2014. Rentabilidad y Creacion de Valor (IBEX 35: 1991-2014. Value Creation and Return)

Number of pages: 18 Posted: 24 Feb 2015 Last Revised: 24 Jan 2018
Pablo Fernandez and Alberto Ortiz Pizarro
University of Navarra - IESE Business School and University of Navarra, IESE Business School
Downloads 1,343 (13,024)

Abstract:

Loading...

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

165.

The Value of Tax Shields is the Difference of Two Present Values with Different Risk

Number of pages: 13 Posted: 17 Dec 2001
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,307 (13,543)
Citation 4

Abstract:

Loading...

Value of tax shields; Tax shields, APV; Costs of leverage

166.

Rentabilidad de los Fondos de Inversión en España, 1999-2014 (Return of Mutual Funds in Spain, 1999-2014)

Number of pages: 12 Posted: 07 Mar 2015
Pablo Fernandez, Alberto Ortiz Pizarro, Pablo Fernandez Acin and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School, Independent and University of Navarra - University of Navarra, Students
Downloads 1,279 (14,016)

Abstract:

Loading...

Mutual Funds, Spain, Mutual Fund Performance, Fondos de Inversion

167.

Valoración de Opciones por Simulación (Simulation for Option Valuation)

CIIF Working Paper No. 309
Number of pages: 56 Posted: 18 Apr 2008 Last Revised: 18 Oct 2013
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,267 (14,178)

Abstract:

Loading...

Simulation, teaching, Black and Scholes

168.

Para mejorar el Dictamen del Congreso sobre la Crisis Financiera (To Improve the Congress Report on the Financial Crisis)

Number of pages: 12 Posted: 17 Jan 2019
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,263

Abstract:

Loading...

banking crisis in Spain; Bank of Spain; unemployment; Spanish Congress Report

169.

The Correct Value of Tax Shields

Number of pages: 17 Posted: 30 Sep 2002
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,259 (14,329)
Citation 7

Abstract:

Loading...

value of tax shields, required return to equity, leverage cost, unlevered beta, levered beta

170.

Valoración de Bonos con Opciones (Valuation of Bonds with Options)

Number of pages: 14 Posted: 18 Apr 2008 Last Revised: 18 Oct 2013
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,250 (14,486)

Abstract:

Loading...

bonos bolsa, teaching, Black and Scholes, simulation

171.

Telefonica: 1991-2007. Creación de valor y rentabilidad (Shareholder Value Creation of Telefonica: 1991-2007)

Number of pages: 37 Posted: 30 Jan 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 1,245 (14,564)

Abstract:

Loading...

Telefonica, IBEX, shareholder return, shareholder value creation

172.

Convertibles in Spain: An Example of 'Back Door' Equity Financing

Number of pages: 37 Posted: 13 Nov 2001
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,222 (15,020)

Abstract:

Loading...

Convertible bonds; "Back Door" equity financing; Undervaluation; Expropriation

173.

Ranking of the Mutual Fund Industry in Spain: 1994-2009 (Ranking de Gestoras de Fondos de Inversión en España 1994-2009) (Spanish)

Number of pages: 26 Posted: 03 Feb 2010 Last Revised: 15 Feb 2010
Pablo Fernandez and Javier del Campo Baonza
University of Navarra - IESE Business School and affiliation not provided to SSRN
Downloads 1,207 (15,304)
Citation 3

Abstract:

Loading...

Mutual Fund Industry, Mutual Funds, Spain, Mutual Fund Performance

174.

The Equity Premium in July 2008: Survey (in Spanish)

Number of pages: 10 Posted: 14 Jul 2008
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,202 (15,396)
Citation 4

Abstract:

Loading...

equity premium, required market risk premium, historical market risk premium, expected market risk premium, market risk premium

175.

APV and WACC with Constant Book Leverage Ratio

Number of pages: 14 Posted: 15 Apr 2007
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,200 (15,456)
Citation 11

Abstract:

Loading...

value of tax shields, required return to equity, WACC, company valuation, APV, cost of equity

176.

Market Risk Premium Used in 71 Countries in 2016: A Survey with 6,932 Answers

Number of pages: 16 Posted: 09 May 2016
Pablo Fernandez, Alberto Ortiz Pizarro and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School and University of Navarra - University of Navarra, Students
Downloads 1,159 (16,333)

Abstract:

Loading...

Market risk premium; equity premium; required equity premium; expected equity premium; historical equity premium

177.

Shareholder Value Creation of Utilities in Spain: 1991-2006

Number of pages: 47 Posted: 17 Feb 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 1,153 (16,426)

Abstract:

Loading...

Endesa, Iberdrola, Union Fenosa, Shareholder Value Creation

178.

Rentabilidad De Los Fondos De Inversion En España, 2001-2011 (Mutual Funds in Spain, 2001-2011)

IESE Business School Working Paper No. WP-1061
Number of pages: 26 Posted: 16 Feb 2012
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 1,145 (16,633)

Abstract:

Loading...

fondos de inversion, CNMV, INVERCO, rentabilidad para los partícipes, benchmark, TER

179.

Rentabilidad de los Fondos de Pensiones en España. 1998-2013 (Pension Funds in Spain. 1998-2013)

Number of pages: 13 Posted: 11 Feb 2014 Last Revised: 12 Feb 2014
Pablo Fernandez, Pablo Linares and Pablo Fernandez Acin
University of Navarra - IESE Business School, University of Navarra, IESE Business School and Independent
Downloads 1,127 (16,997)

Abstract:

Loading...

pension funds, mutual funds, INVERCO, Spain, fondos pensiones

180.

IBEX 35: 1991-2009 - Value Creation and Return

Number of pages: 15 Posted: 23 Jan 2010 Last Revised: 06 Feb 2010
Pablo Fernandez and Javier del Campo Baonza
University of Navarra - IESE Business School and affiliation not provided to SSRN
Downloads 1,083 (18,034)

Abstract:

Loading...

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

181.

A General Formula for the WACC: A Comment

International Journal of Business, Vol. 12, No. 3, 2007
Number of pages: 5 Posted: 06 Sep 2007 Last Revised: 14 Oct 2007
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,073 (18,266)
Citation 3

Abstract:

Loading...

WACC, required return to equity, value of tax shields, company valuation, APV, cost of equity

182.

Shareholder Value Creators and Shareholder Value Destroyers in USA. Year 2002

Number of pages: 20 Posted: 14 Apr 2003
Pablo Fernandez and Laura Reinoso
University of Navarra - IESE Business School and IESE Business School - University of Navarra
Downloads 1,037 (19,218)
Citation 1

Abstract:

Loading...

183.

Bancos españoles en 1991-2007. Creación de valor y rentabilidad para los accionistas (Shareholder Value Creation of Banks in Spain: 1991-2007)

Number of pages: 50 Posted: 12 Feb 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 1,028 (19,444)
Citation 1

Abstract:

Loading...

Value creation, shareholder value creation, Santander, BBVA, Popular, Bankinter, weighted shareholder return

184.

Using the Black and Scholes Formula (in Spanish)

Number of pages: 30 Posted: 07 Apr 2008
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 1,015 (19,854)

Abstract:

Loading...

Black and Scholes, volatility, arbitrage, early exercise, put, call

185.

Shareholder Value Creation of 125 Spanish Companies in 2009 (Spanish)

Number of pages: 12 Posted: 12 Feb 2010
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 979 (20,992)

Abstract:

Loading...

shareholder value creation, Spain, shareholder return, shareholder value destruction

186.

3 Artículos cortos sobre Finanzas y Sensatez (3 Notes About Finance and Common Sense)

Number of pages: 19 Posted: 04 Jul 2015
Pablo Fernandez, Alberto Ortiz Pizarro and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School and University of Navarra - University of Navarra, Students
Downloads 932 (22,622)

Abstract:

Loading...

auditoria, pension, management, buen gobierno

187.

Rentabilidad De Los Fondos De Inversión En España, 2001-2016 (Return of Mutual Funds in Spain, 2001-2016)

Number of pages: 11 Posted: 17 Mar 2017
Pablo Fernandez, Vitaly Pershin, Pablo Fernandez Acin and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School, Independent and University of Navarra - University of Navarra, Students
Downloads 921 (22,931)

Abstract:

Loading...

Mutual Funds, Spain, Mutual Fund Performance, Fondos de Inversion

188.

Rentabilidad de los Fondos de Pensiones en España, 2002-2012 (Pension Funds in Spain, 2002-2012)

Number of pages: 15 Posted: 13 Feb 2013
Pablo Fernandez, Javier Aguirreamalloa and Pablo Linares
University of Navarra - IESE Business School, IESE Business School and University of Navarra, IESE Business School
Downloads 916 (23,142)

Abstract:

Loading...

pension funds, mutual funds, INVERCO, Spain, fondos pensiones

189.

Ranking of the Pension Fund Industry in Spain: 1994-2009 (Ranking De Gestoras De Fondos De Pensiones En España 1994-2009)

Number of pages: 19 Posted: 04 Mar 2010
Pablo Fernandez and Javier del Campo Baonza
University of Navarra - IESE Business School and affiliation not provided to SSRN
Downloads 908 (23,401)

Abstract:

Loading...

Pension Fund Industry, Pension Funds, Spain, Pension Fund Performance

190.

The Value of Tax Shields and the Risk of the Net Increase of Debt

Number of pages: 22 Posted: 24 Feb 2004
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 906 (23,530)
Citation 5

Abstract:

Loading...

Value of tax shields, present value of the net increases of debt

191.

Rentabilidad de los Fondos de Inversion 1991-2008 (Mutual Funds in Spain 1991-2008)

Number of pages: 22 Posted: 04 Feb 2009 Last Revised: 13 Oct 2015
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 892 (24,019)

Abstract:

Loading...

mutual funds, Spain, benchmark, mutual fund performance

192.

Finance and Financial Economics: A Debate About Common Sense and Illogical Models

Number of pages: 34 Posted: 30 Jan 2017 Last Revised: 18 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 891 (24,101)

Abstract:

Loading...

Finance, Financial Economics, Models, CAPM, Sharpe, Fama, Required return, Risk

193.

Pension Funds in Spain, 1991-2006 (Fondos de Pensiones en España, 1991-2006)

Number of pages: 15 Posted: 29 May 2007
Pablo Fernandez, Jose M. Carabias and Lucia de Miguel
University of Navarra - IESE Business School, London School of Economics & Political Science (LSE) - Department of Economics and University of Navarra - IESE Business School
Downloads 886 (24,270)

Abstract:

Loading...

pension funds, fondos de pensiones, fondos de inversion, INVERCO, rentabilidad para los partícipes, benchmark

194.

Valuing Companies with a Fixed Book-Value Leverage Ratio

Number of pages: 37 Posted: 13 Nov 2005
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 886 (24,313)
Citation 1

Abstract:

Loading...

valuation, company valuation, valuation errors, value of tax shields, present value of the net increases of debt, required return to equity

195.

Rentabilidad de los Fondos de Inversion en España, 2002-2012 (Mutual Funds in Spain, 2002-2012)

Number of pages: 15 Posted: 02 Mar 2013
Pablo Fernandez, Javier Aguirreamalloa and Pablo Linares
University of Navarra - IESE Business School, IESE Business School and University of Navarra, IESE Business School
Downloads 870 (24,950)

Abstract:

Loading...

fondos de inversion, CNMV, INVERCO, rentabilidad para los partícipes, mutual funds

196.

Creation of Value for the Shareholders of the Bank Santander 1991-2006

Number of pages: 40 Posted: 24 Jan 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 866 (25,069)

Abstract:

Loading...

Santander, IBEX, EuroStoxx, shareholder value creation

197.

Comisión RESI para el Tribunal Supremo (RESI Committee for the Supreme Court)

Number of pages: 11 Posted: 21 Feb 2018 Last Revised: 10 Mar 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 858 (25,392)

Abstract:

Loading...

Tribunal Supremo, Jurisprudencia, Swap muy sencillo, Supreme Court, Jurisprudence, Swap very simple

198.

Ranking of the Pension Fund Industry in Spain: 1990-2010 (Ranking De Gestoras De Fondos De Pensiones)

Number of pages: 8 Posted: 31 Jan 2011
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 829 (26,734)

Abstract:

Loading...

Pension Fund Industry, Pension Funds, Spain, Pension Fund Performance

199.

Shareholder Value Creation of Banks in Spain: 1991-2006

Number of pages: 49 Posted: 06 Feb 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 789 (28,625)
Citation 2

Abstract:

Loading...

Value creation, shareholder value creation, Santander, BBVA, Popular, Bankinter, weighted shareholder return

200.

IBEX 35: Shareholder Value Creation 1992-2006

Number of pages: 21 Posted: 24 Jan 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 785 (28,810)

Abstract:

Loading...

IBEX 35, Shareholder value creation, IGBM, ITBM

201.

Crisis En España: Omisiones Del Banco De España (Crisis in Spain: Omissions of the Bank of Spain)

Number of pages: 26 Posted: 14 Sep 2017 Last Revised: 19 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 770 (29,566)

Abstract:

Loading...

banking crisis in Spain; Bank of Spain; unemployment

202.

The Equity Premium Puzzle: High Required Premium, Undervaluation and Self Fulfilling Prophecy

IESE Business School Working Paper
Number of pages: 25 Posted: 29 Sep 2008 Last Revised: 27 Dec 2008
Pablo Fernandez, Javier Aguirreamalloa and Heinrich Liechtenstein
University of Navarra - IESE Business School, IESE Business School and University of Navarra - IESE Business School
Downloads 761 (30,042)
Citation 6

Abstract:

Loading...

equity premium puzzle, required equity premium, historical equity premium

203.

71 Problemas Sencillos de Finanzas Resueltos y 1481 Respuestas Erróneas (71 Simple Problems of Finance: Solution and 1481 Wrong Answers)

IESE Business School Working Paper No. WP 1058
Number of pages: 25 Posted: 08 Oct 2014 Last Revised: 16 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 752 (30,763)

Abstract:

Loading...

204.

BBVA: 1991-2007 (BBVA: 1991-2007)

Number of pages: 41 Posted: 06 Feb 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 745 (30,977)

Abstract:

Loading...

Value creation, shareholder value creation, BBVA, Banco Bilbao Vizcaya Argentaria

205.

Fondos de Pensiones, 1991-2008 (Pension Funds in Spain, 1991-2008)

Number of pages: 22 Posted: 04 Mar 2009 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 723 (32,275)

Abstract:

Loading...

pension funds, mutual funds, INVERCO, Spain, benchmark

206.

207 Errores en Valoraciones de Empresas (207 Errors in Company Valuations)

Number of pages: 53 Posted: 17 Mar 2017 Last Revised: 01 Feb 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 715 (32,821)

Abstract:

Loading...

company valuation, equity premium, valuation errors, valoracion de empresas

207.

Rentabilidad y creación de valor de 136 empresas españolas en 2008 (Shareholder Value Creation of 136 Spanish Companies in 2008)

Number of pages: 12 Posted: 10 Jan 2009 Last Revised: 17 Oct 2015
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 715 (32,762)

Abstract:

Loading...

Shareholder Value Creation, Spain, Shareholder return

208.

Shareholder Value Creation of Banks in Spain: 1991-2010 (in Spanish)

Number of pages: 14 Posted: 04 Feb 2011
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 710 (33,076)

Abstract:

Loading...

Value creation, shareholder value creation, Santander, BBVA, Popular, Bankinter, weighted shareholder return

209.

Shareholder Return and Value Creation of 125 Spanish Companies in 2010 (Rentabilidad y Creación de Valor de 125 Empresas Españolas en 2010) (Spanish)

Number of pages: 13 Posted: 15 Jan 2011
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 684 (34,799)

Abstract:

Loading...

Shareholder Value Creation, Spain, Shareholder Return, Shareholder Value Destruction

210.

Telefonica: 1991-2010 (Spanish)

Number of pages: 25 Posted: 18 Jan 2011 Last Revised: 24 Jan 2011
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 671 (35,718)

Abstract:

Loading...

Telefonica, IBEX, Shareholder Return, Shareholder Value Creation

211.

Banco Santander: 1991-2007. Creación de valor y rentabilidad (Shareholder Value Creation of Santander: 1991-2007)

Number of pages: 42 Posted: 05 Feb 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 668 (35,917)

Abstract:

Loading...

Santander, IBEX, EuroStoxx, shareholder value creation

212.

Shareholder Value Creation of Companies in Spain: 2006

Number of pages: 20 Posted: 27 Jan 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 619 (39,726)

Abstract:

Loading...

Value creation, shareholder value creation, IBEX, Spain

213.

Creation of Value for the Shareholders of Repsol: 1991-2006

Number of pages: 40 Posted: 24 Jan 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 616 (39,968)

Abstract:

Loading...

Repsol, Shareholder Value Creation, Shareholder Value Added

214.

Endesa 1991-2006

Number of pages: 35 Posted: 24 Jan 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 609 (40,619)

Abstract:

Loading...

Endesa, shareholder value creation

215.

Shareholder Value Creation of 136 Spanish Companies in January-September 2009 (Spanish)

Number of pages: 8 Posted: 07 Oct 2009
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 604 (41,050)

Abstract:

Loading...

shareholder value creation, Spain, shareholder return, shareholder value destruction

216.

The Value of Tax Shields Depends Only on the Net Increases of Debt

IESE Business School Working Paper No. 613
Number of pages: 30 Posted: 27 Oct 2005
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 598 (41,687)
Citation 8

Abstract:

Loading...

Value of tax shields, present value of the net increases of debt, required return to equity, valuation

217.

Shareholder Value Creators in the S&P 500: Year 2003

Number of pages: 29 Posted: 24 Feb 2004
Pablo Fernandez and Laura Reinoso
University of Navarra - IESE Business School and IESE Business School - University of Navarra
Downloads 596 (41,865)

Abstract:

Loading...

Shareholder value creation

218.

Telefonica 2005

Number of pages: 38 Posted: 18 May 2006
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 586 (42,728)

Abstract:

Loading...

Telefonica, IBEX, shareholder return

219.

Eléctricas españolas: 1991-2007. Creación de valor y rentabilidad para los accionistas (Shareholder Value Creation of Utilities in Spain: 1991-2007)

Number of pages: 42 Posted: 17 Mar 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 583 (43,022)

Abstract:

Loading...

Endesa, Iberdrola, Union Fenosa, Shareholder Value Creation

220.

Which is the Right 'Market Beta'? 1,385 US Companies and 147 Betas/Company in a Single Date

Number of pages: 14 Posted: 18 Oct 2014 Last Revised: 20 Oct 2014
Jose Paulo Carelli, Pablo Fernandez, Isabel Fernández Acín and Alberto Ortiz Pizarro
ISE Business School, University of Navarra - IESE Business School, University of Navarra - University of Navarra, Students and University of Navarra, IESE Business School
Downloads 575 (43,888)
Citation 1

Abstract:

Loading...

Beta, calculated betas, beta ranking, CAPM

221.

Shareholder Value Creation of Spanish Companies in 2010 (Until June 4)

Number of pages: 11 Posted: 09 Jun 2010
Pablo Fernandez and Javier del Campo Baonza
University of Navarra - IESE Business School and affiliation not provided to SSRN
Downloads 567 (44,585)

Abstract:

Loading...

shareholder value creation, Spain, shareholder return, shareholder value destruction

222.

Shareholder Value Creators and Shareholder Value Destroyers in Europe. Year 2002

Number of pages: 21 Posted: 04 Aug 2003
Pablo Fernandez and Alvaro Villanueva
University of Navarra - IESE Business School and University of Navarra - IESE Business School
Downloads 561 (45,315)

Abstract:

Loading...

shareholder value creation, created shareholder value, equity market value, shareholder value added, shareholder return, required return to equity

223.

Reply to 'the Value of Tax Shields is Equal to the Present Value of Tax Shields'

Number of pages: 16 Posted: 01 Nov 2004
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 545 (47,000)
Citation 60

Abstract:

Loading...

Value of tax shields, present value of the net increases of debt, required return to equity

224.

Reply to Comment on the Value of Tax Shields is Not Equal to the Present Value of Tax Shields

Number of pages: 5 Posted: 11 Jan 2005
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 527 (49,047)
Citation 8

Abstract:

Loading...

Value of tax shields, Required return to equity, leverage cost, unlevered beta, levered beta

225.

Comments on 'a Reconsideration of Tax Shield Valuation'

Number of pages: 6 Posted: 22 Nov 2004
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 507 (51,505)

Abstract:

Loading...

Value of tax shields, APV, required return to equity, cost of capital, net increase of debt

226.

Shareholder Value Creation of Bankinter: 1991-2006

Number of pages: 41 Posted: 27 Jan 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 506 (51,505)
Citation 7

Abstract:

Loading...

Value creation, shareholder value creation, Bankinter, IBEX

227.

Bsch 1991-2005

Number of pages: 43 Posted: 14 Jun 2006
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 505 (51,633)

Abstract:

Loading...

BSCH, BS, Banco Santander, Shareholder Value Creation, Shareholder Value Added, creacion de valor para los accionistas, aumento del valor para los accionistas, rentabilidad para los accionistas

228.

Rentabilidad y creación de valor de 136 empresas españolas en el primer trimestre de 2009 y en 2008 (Shareholder Value Creation of 136 Spanish Companies in IT 2009)

Number of pages: 13 Posted: 02 Apr 2009 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 489 (53,733)

Abstract:

Loading...

Shareholder Value Creation, Spain, Shareholder return

229.

50 Largest Companies: 2000-2005 Shareholder Value Creation in Latin America

Number of pages: 9 Posted: 03 Jul 2006
Julio Aznarez, Óscar E. Carbonell López, Pablo Fernandez and Jose M. Carabias
University of Los Andes - ESE Business School, Universidad Panamericana - Instituto Panamericano de Alta Dirección de Empresa (IPADE), University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 489 (53,733)
Citation 1

Abstract:

Loading...

Value Creation

230.

Shareholder Value Creators in the S&P 500: Year 2004

Number of pages: 33 Posted: 27 Jan 2005
Pablo Fernandez and Alvaro Villanueva
University of Navarra - IESE Business School and University of Navarra - IESE Business School
Downloads 477 (55,602)

Abstract:

Loading...

Shareholder value creation, created shareholder value, equity market value, shareholder value added, shareholder return, required return to equity, EVA

231.

IBEX 35: 1991-2008 (IBEX 35: 1991-2008)

Number of pages: 14 Posted: 19 Jan 2009 Last Revised: 13 Oct 2015
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 467 (56,995)

Abstract:

Loading...

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

232.

The Value of Tax Shields with a Fixed Book-Value Leverage Ratio

IESE Business School Working Paper No. 612
Number of pages: 30 Posted: 27 Oct 2005
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 453 (59,331)

Abstract:

Loading...

Value of tax shields, present value of the net increases of debt, required return to equity, valuation, company valuation

233.

Finanzas y Economía Financiera (Finance and Financial Economics)

Number of pages: 27 Posted: 20 Jan 2017 Last Revised: 24 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 450 (59,822)

Abstract:

Loading...

Market Risk Premium; Required Equity Premium; Expected Equity Premium; Finance; Financial Economics

234.

Euro Stoxx 50: 1997-2005 - Shareholder Value Creation in Europe

Number of pages: 23 Posted: 07 Apr 2006
Pablo Fernandez, Jose M. Carabias, Julio Aznarez and Óscar E. Carbonell López
University of Navarra - IESE Business School, London School of Economics & Political Science (LSE) - Department of Economics, University of Los Andes - ESE Business School and Universidad Panamericana - Instituto Panamericano de Alta Dirección de Empresa (IPADE)
Downloads 450 (59,659)
Citation 25

Abstract:

Loading...

Shareholder value creation, created shareholder value, shareholder value added, shareholder return, required return to equity

235.

Creation of Value for the Shareholders of Telefonica: 1991-2006

Number of pages: 38 Posted: 24 Jan 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 446 (60,333)

Abstract:

Loading...

Telefonica, IBEX, shareholder return, shareholder value creation

236.

Shareholder Value Creation of Banco Popular: 1991-2006

Number of pages: 36 Posted: 27 Jan 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 441 (61,155)
Citation 2

Abstract:

Loading...

Value creation; shareholder value creation; Banco Popular

237.

Comisión RESI para el Tribunal Supremo (II): Cláusula Suelo (RESI Committee for the Supreme Court (II): Floor in a Mortgage)

Number of pages: 5 Posted: 13 Mar 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 432 (62,696)

Abstract:

Loading...

Tribunal Supremo, Jurisprudencia, crédito, cláusula suelo, Supreme Court, Jurisprudence, credit, floor

238.

Rentabilidad y Creación de Valor de 136 empresas españolas en el primer semestre de 2009 y en 2008 (Shareholder Value Creation of 136 Spanish Companies in First Semester 2009)

Number of pages: 8 Posted: 07 Jul 2009 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 422 (64,484)

Abstract:

Loading...

shareholder value creation, Spain, shareholder return

239.

Bbva 1991-2005

Number of pages: 39 Posted: 14 Jun 2006
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 410 (66,802)

Abstract:

Loading...

BBVA, Shareholder Value Creation, Shareholder Value Added, creacion de valor para los accionistas, aumento del valor para los accionistas, rentabilidad para los accionistas

240.

Shareholder Value Creators and Destroyers in the Dow Jones: Year 2008

Number of pages: 6 Posted: 15 Jan 2009 Last Revised: 13 Oct 2015
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 404 (68,030)

Abstract:

Loading...

shareholder value creation, created shareholder value, shareholder value added, shareholder return

241.

Eurostoxx 50: 1997-2004. Shareholder Value Creation in Europe.

Number of pages: 20 Posted: 10 Feb 2005
Pablo Fernandez and Alvaro Villanueva
University of Navarra - IESE Business School and University of Navarra - IESE Business School
Downloads 391 (70,799)
Citation 1

Abstract:

Loading...

Shareholder value creation, created shareholder value, shareholder value added, shareholder return

242.

The Value of Tax Shields Depends Only on the Stochastic Process of the Net Increase of Debt

Number of pages: 10 Posted: 04 Aug 2005
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 388 (71,459)

Abstract:

Loading...

Value of tax shields, present value of the net increases of debt, required return to equity

243.

EL Eva, EL Beneficio Económico y El CVA No Miden La Creación De Valor (Eva and Cash Value Added Do Not Measure Shareholder Value Creation)

Number of pages: 15 Posted: 17 Nov 2011 Last Revised: 23 Nov 2011
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 379 (73,288)

Abstract:

Loading...

Creación de valor, EVA, Rentabilidad para los accionistas

244.

Shareholder Value Creation of Bbva. 1991-2006

Number of pages: 37 Posted: 27 Jan 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 377 (73,734)
Citation 7

Abstract:

Loading...

Value creation, shareholder value creation, BBVA

245.

Euro Stoxx 50: 1997-2006 Shareholder Value Creation in Europe

Number of pages: 25 Posted: 09 Mar 2007
Pablo Fernandez, Jose M. Carabias, Julio Aznarez and Óscar E. Carbonell López
University of Navarra - IESE Business School, London School of Economics & Political Science (LSE) - Department of Economics, University of Los Andes - ESE Business School and Universidad Panamericana - Instituto Panamericano de Alta Dirección de Empresa (IPADE)
Downloads 371 (75,096)
Citation 25

Abstract:

Loading...

shareholder value creation, shareholder value added, shareholder return, required return to equity, Euro Stoxx 50

246.

The Magnitude and Concept of the Equity Premium in 150 Textbooks

Number of pages: 20 Posted: 29 Jul 2011
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 330 (85,991)

Abstract:

Loading...

equity premium puzzle, required equity premium, expected equity premium

247.

Shareholder Value Creation of Iberdrola: 1991-2006

Number of pages: 38 Posted: 27 Jan 2007
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 328 (86,574)
Citation 7

Abstract:

Loading...

Value creation, shareholder value creation, IBEX, Iberdrola

248.

Repsol 1991-2005

Number of pages: 42 Posted: 20 Jul 2006
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 313 (91,203)

Abstract:

Loading...

Repsol, Shareholder Value Creation, Shareholder Value Added, creación de valor para los accionistas, aumento del valor para los accionistas, rentabilidad para los accionistas

249.

Pésames por ser Español y 210 Comentarios (Condolences for Being Born in Spain and 210 Comments)

Number of pages: 28 Posted: 20 Dec 2012
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 306 (93,902)

Abstract:

Loading...

Crisis, unemployment, common sense, truth, responsibility, Spain

250.

Poor Performance of Mutual Funds in Spain: 1991-2007

Number of pages: 25 Posted: 08 Apr 2008 Last Revised: 27 May 2017
Pablo Fernandez, Vicente J. Bermejo and Andrada Bilan
University of Navarra - IESE Business School, ESADE Business School and University of Navarra - IESE Business School
Downloads 287 (100,308)

Abstract:

Loading...

mutual funds, Spain, return to shareholders, benchmark, appreciation of the funds, TER

251.

Endesa 1991-2005

Number of pages: 41 Posted: 06 Jul 2006
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 280 (102,926)

Abstract:

Loading...

Endesa, Shareholder Value Creation, Shareholder Value Added, creación de valor para los accionistas, aumento del valor para los accionistas, rentabilidad para los accionistas

252.

Iberdrola 1991-2005

Number of pages: 41 Posted: 10 Jul 2006
Pablo Fernandez and Jose M. Carabias
University of Navarra - IESE Business School and London School of Economics & Political Science (LSE) - Department of Economics
Downloads 257 (112,675)

Abstract:

Loading...

Iberdrola, Shareholder Value Creation, Shareholder Value Added, creación de valor para los accionistas, aumento del valor para los accionistas, rentabilidad para los accionistas

253.

Maquitech: Financiación de la Diversificación (Maquitech: Financing of Diversification)

Number of pages: 5 Posted: 12 Jan 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 253 (114,507)

Abstract:

Loading...

Cuenta de Resultados, Balance, P&L, Balance Sheet, Net Income, Money, Net Worth

254.

Descensos bursátiles de 121 empresas españolas (Stock Downfalls of 121 Spanish Companies)

Number of pages: 46 Posted: 29 May 2008 Last Revised: 27 May 2017
Pablo Fernandez and Vicente J. Bermejo
University of Navarra - IESE Business School and ESADE Business School
Downloads 238 (121,807)

Abstract:

Loading...

Share price, maximum, minimum, downfall

255.

A Problem with My Van: The Quick Repair Service of a German Carmaker

Number of pages: 4 Posted: 30 May 2007
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 238 (121,807)

Abstract:

Loading...

spare key, customer service, ethical precepts, Ethics Committee, action plan

256.

Rentabilidad De Los Fondos De Pensiones En España. 2001-2016 (Return of Pension Funds in Spain. 2001-2016)

Number of pages: 24 Posted: 10 Feb 2017 Last Revised: 13 Feb 2017
Pablo Fernandez, Vitaly Pershin, Pablo Fernandez Acin and Isabel Fernández Acín
University of Navarra - IESE Business School, University of Navarra, IESE Business School, Independent and University of Navarra - University of Navarra, Students
Downloads 229 (127,739)

Abstract:

Loading...

Pension Funds, Mutual Funds, INVERCO, Spain, Fondos Pensiones

257.

Equity Premium Used in 2011 for the USA by Analysts, Companies and Professors: A Survey

Midwest Finance Association 2012 Annual Meetings Paper
Number of pages: 17 Posted: 29 Jul 2011
Pablo Fernandez, Javier Aguirreamalloa and Luis Corres Avendaño
University of Navarra - IESE Business School, IESE Business School and IESE
Downloads 216 (133,978)

Abstract:

Loading...

equity premium, required equity premium, expected equity premium, historical equity premium

258.

Madera Inc. Contabilidad, Flujos, Deuda y Sensatez (Madera Inc. Accounting, Cash Flows, Debt and Common Sense)

Number of pages: 19 Posted: 13 Nov 2017 Last Revised: 19 Dec 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 184 (155,576)

Abstract:

Loading...

Cuenta de Resultados, Balance, P&L, Balance Sheet, Net Income, Money, Net Worth

259.

Bob Carter y Madera Inc: Balance, Beneficio y Deuda (Bob Carter and Madera Inc: Balance Sheet, Net Income and Debt)

Number of pages: 4 Posted: 16 Nov 2017 Last Revised: 30 Jun 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 175 (162,762)

Abstract:

Loading...

Cuenta de Resultados, Balance, P&L, Balance Sheet, Net Income, Money, Net Worth

260.

Aportaciones para la Comisión RESI para el Tribunal Supremo (Contributions to the RESI Committee for the Supreme Court)

Number of pages: 23 Posted: 12 Mar 2018 Last Revised: 21 Mar 2018
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 39 (407,462)

Abstract:

Loading...

Tribunal Supremo, Jurisprudencia, finanzas sencillas, Supreme Court, Jurisprudence, finance very simple

261.

Preguntas para saber algo sobre la Crisis Financiera en España (Questions to Know Something About the Financial Crisis in Spain)

Number of pages: 21 Posted: 14 Jan 2019
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 20 (502,007)

Abstract:

Loading...

Banking Crisis in Spain; Bank of Spain; Unemployment; Spanish Congress

262.

Convertible Bonds in Spain: A Different Security

Posted: 09 Jul 1998 Last Revised: 10 Oct 2015
Pablo Fernandez
University of Navarra - IESE Business School

Abstract:

Loading...

Spanish convertible bonds, American convertible bonds, average share price

Other Papers (3)

Total Downloads: 23,565    Citations: 0
Actions:
Email selected abstracts
1.

Table of Contents: Valuation and Common Sense (6th edition)

Number of pages: 17 Posted: 06 Feb 2013 Last Revised: 19 Oct 2017
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 18,711

Abstract:

Loading...

Valuation, Free cash flow, Equity cash flow, Capital cash flow, Book value, Market value, PER, Goodwill, Required return to equity, Working capital requirements

2.

Expected and Required Returns: Very Different Concepts

Number of pages: 5 Posted: 16 Apr 2015 Last Revised: 18 Oct 2017
Pablo Fernandez and Isabel Fernández Acín
University of Navarra - IESE Business School and University of Navarra - University of Navarra, Students
Downloads 4,630

Abstract:

Loading...

expected return, required return, required equity premium, expected equity premium, market risk premium

3.

Comments to the Paper 'CAPM: An Absurd Model'

Number of pages: 29 Posted: 04 Nov 2014
Pablo Fernandez
University of Navarra - IESE Business School
Downloads 224

Abstract:

Loading...

CAPM; Expected beta; historical beta; required beta; Expected Market Risk Premium; Required Market Risk Premium; Expected Return to Equity; Required Return to Equity; Company Valuation