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Value, Price, Free cash flow, Equity cash flow, Capital cash flow, Book value, Market value, PER, Goodwill, Required return to equity, Working capital requirements
Value, Price, Free cash flow, Equity cash flow, Capital cash flow, Book value, Market value
Valuation, Free cash flow, Equity cash flow, Capital cash flow, Book value, Market value, PER, Goodwill, Required return to equity, Working capital requirements
discounted cash flows, APV, WACC, Equity Cash Flow, beta
equity premium, required equity premium, expected equity premium, historical equity premium, market risk premium
WACC, Required Return to Equity, Value of Tax Shields, Company Valuation, APV, Cost of Debt
discounted cash flows, APV, WACC, equity cash flow
Valuation, discounted cash flow, equity premium, required equity premium, expected equity premium, beta, VTS
equity premium; required equity premium; expected equity premium; risk-free rate; survey
Cash value added, EVA, Economic profit, Residual income valuation, Discounted cash flow valuation, Valuation
equity premium; required equity premium; coronavirus; expected equity premium; risk-free rate
WACC, beta, equity premium, EVA, value of tax shields, required return to equity
Multiples, Dispersion of multiples, PER, Relative multiples, Analysts' recommendations
WACC, Required Return to Equity, Value of Tax Shields, Company Valuation, Cost of Debt
equity premium; required equity premium; expected equity premium; historical equity premium
equity premium; required equity premium; expected equity premium; risk-free rate; heterogeneous expectations
brand, brand value, brand value drivers, brand equity, intellectual capital, brand valuation, brand valuation process
company valuation, equity premium, valuation errors, valoracion de empresas
equity cash flow, free cash flow, capital cash flow, net income
required market risk premium, historical market risk premium, expected market risk premium, risk premium, equity premium, market premium, prima de riesgo
Shareholder value creation, Shareholder return, Value creation, EVA, Cash value added, Economic profit, Management performance indicator, Valuation
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
valuation, expropriation, Argentina, YPF, Repsol
company valuation, valuation errors, valuation, historical beta, CAPM
equity premium; required equity premium; expected equity premium; risk-free rate
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
equity premium, equity premium puzzle, expected equity premium
Shareholder Value Creation, EVA, Book Value, Return, Valuation, Beta
equity premium; required equity premium; expected equity premium; risk-free rate; market risk premium
Valuation, discounted cash flow, equity premium, required equity premium, WACC, expected equity premium, beta, VTS
equity premium, required equity premium, expected equity premium, historical equity premium, risk-free rate, heterogeneous investors
real options, volatility, Black and Scholes, option replication
Beta, calculated betas
equity premium, required equity premium, expected equity premium, historical equity premium
Shareholder value creation; Created shareholder value; Increase of equity market value; Shareholder value added; Shareholder return; Required return to equity
discounted cash flow valuation, cash flow valuation, value of tax shields, required return to equity
valuation, shareholder value creation, premium
equity premium, equity premium puzzle, required market risk premium, historical market risk premium, expected market risk premium, risk premium, market risk premium, market premium
Beta, CAPM, historical beta, betas historicas
valuation of seasonal companies, seasonality, cash flow discounting
Free Cash Flow, equity cash flow, net income, beneficio, flujo
Internet, Valuation, Internet valuation
Cash flow, exam, NPV, free cash flow, WACC, equity cash flow
Real options, put, call, volatility
unlevered beta, levered beta, asset beta, value of tax shields, required return to equity, leverage cost
Internet, Valuation, Amazon, Microsoft
beta, historical beta, calculated beta, adjusted beta, common sense
beta, historical beta, calculated beta, common sense
CAPM; Beta; Calculated beta; Market risk premium
Multiplos, aumento del valor para los accionistas, rentabilidad para los accionistas
equity premium, required market risk premium, historical market risk premium
Value creation, shareholder value creation, EVA, book value, return
Cash flow, seasonal companies, monthly data
market risk premium, required equity premium, expected equity premium, historical equity premium
company valuation, valuation errors, valuation, inflation
equity premium, required market risk premium, historical market risk premium, expected market risk premium, market risk premium
Endesa, E.ON, Gas Natural, valuation, OPA
Cash flow, Optimal capital structure, Incremental cost of debt, Required return on debt, Required return to equity
valuation methods, WACC, cash flow discounting, Adjusted Present Value
Valuation, emerging county, errors in valuation, Free Cash Flow
discounted cash flows, APV, WACC, Equity Cash Flow, beta, valuation
Free cash flow, WACC, equity cash flow, required return to equity, capital cash flows, APV, economic profit, EVA, value creation, VTS
WACC, Expected and the Required Rates of Return, Sharpe Ratio, CAPM
equity cash flow, free cash flow, net income, beneficio, flujo
value of growth, value of growing opportunities, book value
net income, net worth, fondos propios, beneficios
Value creation, company valuation, value destruction, analysts
value of voting rights, voting rights, valor del derecho a voto, valor de acciones sin voto
equity premium puzzle, equity premium, market risk premium, survey
valuation errors, cash flow, net income, lawyer
Valuation, company valuation, valuation errors
PER, required return, expected growth, rentabilidad exigida, crecimiento esperado
Beta, CAPM, beta-ranked portfolios, historical beta, expected beta
valuation, emerging county, errors in valuation, Free Cash Flow
Shareholder value creation, created shareholder value, equity market value, shareholder value added, shareholder return, required return to equity
value, price, book value, market value, PER, Price to Book
valuation, company valuation, valuation errors
CAPM; Expected beta; historical beta; required beta; Expected Market Risk Premium; Required Market Risk Premium; Expected Return to Equity; Required Return to Equity
beneficio, cash flow, net income, flujo, consejeros, Board Members
value, price, dividends, Share Repurchases, equity cash flow
Value, Interest rates, Yield curve, Treasuries
company valuation; WACC; required return to equity; discounted cash flow; equity cash flows; free cash flows
Value, inflation, free cash flow, equity cash flow
Unweighted Indexes, Market Unefficient, Sharpe Ratio, Small Companies
valuation, emerging county, errors in valuation, Free Cash Flow, electric
Regulatory WACC; Regulatory CAPM; European Redulators; Errors; Confusion
valuation, emerging county, errors in valuation, Free Cash Flow, electric company
value of tax shields, required return to equity, WACC, company valuation, APV, cost of equity
cuenta de resultados, balance, P&L, Balance Sheet, net income, money, Net Worth
Bankia, participaciones preferentes, FROB, Banco de España, CNMV, verdad, responsabilidad
Bond, Government Bond, present value, internal rate of return
duracion, convexidad, duration, convexity, bond, coupon payment
flow, net income, intangibles, required return, simple return, weighted return, market premium, beta, value, book value, value creation, EVA, FCF, WACC
Discounted cash flow valuation, cash flow valuation, value of tax shields, present value of the net increases of debt, required return to equity
Call, Put, Forward, Future, Arbitrage, Arbitraje
Lehman, CDS, analysts, rating
Ethics, Beta, Models, CAPM, Sharpe, Fama, Required Return, Expected Return, Risk, Recipes
structured bonds, Spain, preferred shares, lawyers
swap, interest rate swap, Spain, bets, interest rate risk
cash flow; net income, intangibles, required return, simple return, weighted return, market premium, beta, value, book value, value creation, EVA, FCF, WACC
Required market risk,premium, historical market risk premium, expected market risk premium, risk premium, equity premium, market premium
Company valuation, valuation errors, valuation
Unweighted indexes, Market unefficient, CAPM, Sharpe ratio, efficient portfolio
Banks, Spain, all-period return, all-shareholder return, Santander, BBVA, Popular, Bankinter, Sabadell
Bank, Loan, Cash flow, Interest, Accrual, Collection
Expropiación, Expropriation, Caja Cantabria, Caja Asturias, Caja Extremadura, Liberbank, CNMV, FROB, Banco de España
Value of the tax shield; Tax shield valuation; APV; Present value of taxes; Required return to taxes; Taxes; Debt value; Creation
inversión, analisis de inversiones, investment analysis, required return, present value
net income, equity, book value of equity, money, dictionary
perpetual bond, Matusalem bond, zero coupon bond, duration
cobros y pagos; ingresos y gastos; costes; beneficio; ahorro; familia; net income, savings
value of tax shields, VTS, required return to equity, WACC, company valuation, APV, cost of equity
Mutual Funds, Spain, Mutual Fund Performance, Fondos de Inversion
Normalized Risk-Free rate; normalization; company valuation; WACC; required return to equity; discounted cash flow
restructuring, negative book value, fondos propios negativos
Abengoa, Auditors, Value, cash flow, perimetro de consolidacion
Shareholder value creation; Created shareholder value; Equity market value; Shareholder value added; Shareholder return; Required return to equity; EVA
all-shareholder return; shareholder return; unique shareholder; all-period shareholder return
Liberbank, participaciones preferentes, FROB, Banco de España, marca España, CNMV, verdad, responsabilidad, código penal, engaño, mentira, fraude, falsedad en documento mercantil, shareholder value added
Market Risk Premium; Equity Premium; Required Equity Premium; Expected Equity Premium; Historical Equity Premium
Crisis, unemployment, common sense, truth, responsibility
Caja Cantabria, Caja Asturias, Caja Extremadura, Liberbank, auditor
Spain, Debt, Social Security, VAT, Personal Income Tax
analyst, market risk premium; required equity premium; risk-free rate
Crisis, unemployment, common sense, truth, responsibility, Bank of Spain
company valuation; WACC; required return to equity; discounted cash flow; equity cash flows; free cash flows; tax shields
value of tax shields, required return to equity, leverage cost, unlevered beta, levered beta
Equity Cash Flow, net income, money, Working Capital Requirements
Share price, Maximum, Minimum, IBEX 35
net income, beneficio, tesorería, cash, balance reducido, reduced balance sheet
WACC, required return to equity, value of tax shields, company valuation, APV, cost of equity
Net Income, Equity Cash Flow, Accounting, Money
Book Value, Free cash flow, Equity cash flow, Capital cash flow, Book value, Market value, Net Income, Working capital requirements
Value of tax shields, present value of the net increases of debt, required return to equity
Valor de las acciones, beneficio, preferencia, equity value, net income
company valuation, valuation errors, valuation
Shareholder Value Creation, Spain, Shareholder return
Pension Funds, Mutual Funds, INVERCO, Spain, Fondos Pensiones
Shareholder value added, shareholder value creation, created shareholder value
insider trading, judges, Spain, indirect transactions
Shareholder value creation, created shareholder value, shareholder value added, shareholder return
Mutual Funds, Spain, Benchmark, Mutual Fund Performance
discounted cash flows, APV, WACC, Equity Cash Flow, beta, iteration
banking crisis in Spain; Bank of Spain; unemployment; Spanish Congress Report
IBEX 35, shareholder value creation, IGBM, ITBM, Spain
Taxes, Spain, Marriage deductions, ethics, law and ethics
mutual funds, Spain, benchmark, mutual fund performance
pension funds, mutual funds, INVERCO, Spain, fondos pensiones
cash flow, Valuation, exam, NPV, free cash flow, WACC, equity cash flow
pension funds, mutual funds, INVERCO, Spain, benchmark
Spain, equity mutual funds, fondos de inversión, CNMV, INVERCO, benchmark, apreciación de los fondos, TER
Market risk premium; equity premium; required equity premium; expected equity premium; historical equity premium
Share price, Maximum, Minimum
spare key, customer service, ethical precepts, Ethics Committee, action plan
Option, put, call, future, forward
Mutual Fund Industry, Mutual Funds, Spain, Mutual Fund Performance
pension funds, fondos de pensiones, fondos de inversion, INVERCO, Spain, benchmark
Value of tax shields; Tax shields, APV; Costs of leverage
ITBM, IBEX 35, 2020 crisis, coronavirus, descenso de cotizaciones
Simulation, teaching, Black and Scholes
bonos bolsa, teaching, Black and Scholes, simulation
Telefonica, IBEX, shareholder return, shareholder value creation
required equity premium, expected equity premium, risk-free rate, equity premium; required equity premium; expected equity premium; risk-free rate; market risk premium, equity premium; required equity premium; expected equity premium; risk-free rate; market risk premium
Convertible bonds; "Back Door" equity financing; Undervaluation; Expropriation
CNMV, INVERCO, rentabilidad para los partícipes, apreciación de los fondos, M21 xPpLnMm
Finance, Financial Economics, Models, CAPM, Sharpe, Fama, Required return, Risk
fondos de inversion, CNMV, INVERCO, rentabilidad para los partícipes, benchmark, TER
Endesa, Iberdrola, Union Fenosa, Shareholder Value Creation
Value creation, shareholder value creation, Santander, BBVA, Popular, Bankinter, weighted shareholder return
Beta, calculated betas, beta ranking, CAPM
Cuenta de Resultados, Balance, P&L, Balance Sheet, Net Income, Money, Net Worth
Black and Scholes, volatility, arbitrage, early exercise, put, call
Tribunal Supremo, Jurisprudencia, Swap muy sencillo, Supreme Court, Jurisprudence, Swap very simple
shareholder value creation, Spain, shareholder return, shareholder value destruction
equity premium puzzle, required equity premium, historical equity premium
fondos de inversion, CNMV, INVERCO, rentabilidad para los partícipes, mutual funds
Market Risk Premium; Required Equity Premium; Expected Equity Premium; Finance; Financial Economics
Value of tax shields, present value of the net increases of debt
Estado Español; Seguridad Social; IVA; IRPF; Impuesto de Sociedades; Social Security; VAT; Personal Income Tax
valuation, company valuation, valuation errors, value of tax shields, present value of the net increases of debt, required return to equity
auditoria, pension, management, buen gobierno
Pension Fund Industry, Pension Funds, Spain, Pension Fund Performance
pension funds, fondos de pensiones, fondos de inversion, INVERCO, rentabilidad para los partícipes, benchmark
Santander, IBEX, EuroStoxx, shareholder value creation
banking crisis in Spain; Bank of Spain; unemployment
net income, beneficio, facturar, sales, ventas
export, import, Spain, China, theorem
ITBM, S&P Composite, 2020 crisis, coronavirus, inflación
IBEX 35, Shareholder value creation, IGBM, ITBM
IBEX, S&P, DAX, CAC, Unemployment, 2020 Crisis, coronavirus
IBEX, S&P, DAX, CAC, Unemployment, 2020 Crisis, coronavirus, COVID
Value creation, shareholder value creation, BBVA, Banco Bilbao Vizcaya Argentaria
Euro Stoxx 50, Shareholder Return, Price Decrease, Capitalization
Value of tax shields, present value of the net increases of debt, required return to equity, valuation
Telefonica, IBEX, Shareholder Return, Shareholder Value Creation
Shareholder Value Creation, Spain, Shareholder Return, Shareholder Value Destruction
Endesa, shareholder value creation
Total Return, Total Return for All Shareholders, S&P 100, Share Repurchases
Value creation, shareholder value creation, IBEX, Spain
Repsol, Shareholder Value Creation, Shareholder Value Added
Shareholder value creation
Telefonica, IBEX, shareholder return
shareholder value creation, created shareholder value, equity market value, shareholder value added, shareholder return, required return to equity
Tribunal Supremo, Jurisprudencia, crédito, cláusula suelo, Supreme Court, Jurisprudence, credit, floor
Value of tax shields, Required return to equity, leverage cost, unlevered beta, levered beta
Shareholder value creation, created shareholder value, shareholder value added, shareholder return, required return to equity
Creación de valor, EVA, Rentabilidad para los accionistas
Value of tax shields, APV, required return to equity, cost of capital, net increase of debt
Value creation, shareholder value creation, Bankinter, IBEX
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
Value Creation
S&P500, IBEX, IPSA, BOVESPA, MERVAL, Crisis, Subprime, Coronavirus
Shareholder value creation, created shareholder value, equity market value, shareholder value added, shareholder return, required return to equity, EVA
equity premium puzzle, required equity premium, expected equity premium
valoracion de empresas, company valuation, equity premium, valuation errors
Value creation; shareholder value creation; Banco Popular
Value of tax shields, present value of the net increases of debt, required return to equity, valuation, company valuation
shareholder value creation, Spain, shareholder return
shareholder value creation, created shareholder value, shareholder value added, shareholder return
BBVA, Shareholder Value Creation, Shareholder Value Added, creacion de valor para los accionistas, aumento del valor para los accionistas, rentabilidad para los accionistas
shareholder value creation, shareholder value added, shareholder return, required return to equity, Euro Stoxx 50
Value creation, shareholder value creation, BBVA
Value creation, shareholder value creation, IBEX, Iberdrola
Repsol, Shareholder Value Creation, Shareholder Value Added, creación de valor para los accionistas, aumento del valor para los accionistas, rentabilidad para los accionistas
mutual funds, Spain, return to shareholders, benchmark, appreciation of the funds, TER
Crisis, unemployment, common sense, truth, responsibility, Spain
Endesa, Shareholder Value Creation, Shareholder Value Added, creación de valor para los accionistas, aumento del valor para los accionistas, rentabilidad para los accionistas
Banking Crisis in Spain; Bank of Spain; Unemployment; Spanish Congress
Iberdrola, Shareholder Value Creation, Shareholder Value Added, creación de valor para los accionistas, aumento del valor para los accionistas, rentabilidad para los accionistas
Share price, maximum, minimum, downfall
Tribunal Supremo, Jurisprudencia, finanzas sencillas, Supreme Court, Jurisprudence, finance very simple
Spanish convertible bonds, American convertible bonds, average share price
expected return, required return, required equity premium, expected equity premium, market risk premium
