Aswath Damodaran

New York University - Stern School of Business

Professor, Finance

Stern School of Business

44 West 4th Street

New York, NY 10012-1126

United States

http://www.damodaran.com

SCHOLARLY PAPERS

60

DOWNLOADS
Rank 5

SSRN RANKINGS

Top 5

in Total Papers Downloads

343,917

CITATIONS
Rank 1,910

SSRN RANKINGS

Top 1,910

in Total Papers Citations

294

Scholarly Papers (60)

1.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications – The 2013 Edition

Number of pages: 114 Posted: 24 Mar 2013
Aswath Damodaran
New York University - Stern School of Business
Downloads 26,635 (55)
Citation 18

Abstract:

Loading...

Equity Risk Premiums, risk premiums, default spreads

2.

Tesla: Anatomy of a Run-Up Value Creation or Investor Sentiment?

Number of pages: 46 Posted: 28 Apr 2014
Bradford Cornell and Aswath Damodaran
California Institute of Technology and New York University - Stern School of Business
Downloads 26,447 (58)

Abstract:

Loading...

Valuation, Investor Sentiment, Asset Pricing

3.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications – The 2015 Edition

Number of pages: 120 Posted: 21 Mar 2015
Aswath Damodaran
New York University - Stern School of Business
Downloads 24,671 (70)
Citation 18

Abstract:

Loading...

4.

Country Risk: Determinants, Measures and Implications - The 2015 Edition

Number of pages: 97 Posted: 15 Jul 2015 Last Revised: 01 Aug 2015
Aswath Damodaran
New York University - Stern School of Business
Downloads 21,180 (95)

Abstract:

Loading...

Country Risk, Currency Risk, Equity Risk Premiums

5.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications – The 2016 Edition

Number of pages: 136 Posted: 05 Mar 2016
Aswath Damodaran
New York University - Stern School of Business
Downloads 15,982 (157)
Citation 18

Abstract:

Loading...

6.

Value Investing: Investing for Grown Ups?

Number of pages: 79 Posted: 20 Apr 2012 Last Revised: 27 Jun 2012
Aswath Damodaran
New York University - Stern School of Business
Downloads 14,699 (190)

Abstract:

Loading...

value investing, PE ratios, Price to book, activist value investing, private equity

7.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications - The 2010 Edition

Number of pages: 89 Posted: 21 Feb 2010 Last Revised: 23 Aug 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 12,758 (237)
Citation 19

Abstract:

Loading...

Equity Risk Premiums, Default Spreads

8.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications – The 2011 Edition

Number of pages: 95 Posted: 24 Feb 2011 Last Revised: 02 Jun 2011
Aswath Damodaran
New York University - Stern School of Business
Downloads 12,200 (253)
Citation 20

Abstract:

Loading...

Equity Risk Premium, Risk Premium, Price of Risk, Default Risk, Country Risk Premium, Cost of Equity, Cost of Capital

9.

Return on Capital (ROC), Return on Invested Capital (ROIC) and Return on Equity (ROE): Measurement and Implications

Number of pages: 69 Posted: 26 Mar 2008 Last Revised: 29 May 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 12,082 (261)
Citation 2

Abstract:

Loading...

Accounting returns, ROIC, ROE, ROC, Return on equity, Return on Invested Capital

10.

Country Risk: Determinants, Measures and Implications – The 2016 Edition

Number of pages: 103 Posted: 21 Jul 2016
Aswath Damodaran
New York University - Stern School of Business
Downloads 11,337 (294)

Abstract:

Loading...

11.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications – The 2017 Edition

Number of pages: 141 Posted: 07 Apr 2017
Aswath Damodaran
New York University - Stern School of Business
Downloads 11,266 (298)
Citation 18

Abstract:

Loading...

Equity Risk Premium, Market Timing, The Price of Risk, Cost of equity

12.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications – The 2012 Edition

Number of pages: 107 Posted: 22 Mar 2012 Last Revised: 20 Apr 2012
Aswath Damodaran
New York University - Stern School of Business
Downloads 10,618 (336)
Citation 18

Abstract:

Loading...

Equity Risk Premiums, ERP, country risk, cost of equity, cost of capital

13.

Country Risk: Determinants, Measures and Implications – The 2017 Edition

Number of pages: 100 Posted: 18 Jul 2017
Aswath Damodaran
New York University - Stern School of Business
Downloads 9,835 (389)

Abstract:

Loading...

Country Risk, Equity Risk Premiums, Country Default

14.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications – The 2014 Edition

Number of pages: 114 Posted: 16 Mar 2014
Aswath Damodaran
New York University - Stern School of Business
Downloads 9,237 (444)
Citation 18

Abstract:

Loading...

15.

What is the Riskfree Rate? A Search for the Basic Building Block

Number of pages: 33 Posted: 18 Dec 2008 Last Revised: 01 Jul 2009
Aswath Damodaran
New York University - Stern School of Business
Downloads 9,076 (461)
Citation 3

Abstract:

Loading...

riskfree rate, cost of equity, discount rate, valuation

16.

Valuing Young, Start-Up and Growth Companies: Estimation Issues and Valuation Challenges

Number of pages: 67 Posted: 13 Jun 2009
Aswath Damodaran
New York University - Stern School of Business
Downloads 8,304 (535)
Citation 2

Abstract:

Loading...

valuation, growth companies, venture capital approach

17.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications - A Post-Crisis Update

Number of pages: 86 Posted: 24 Oct 2009 Last Revised: 20 Feb 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 6,933 (735)
Citation 2

Abstract:

Loading...

Equity Risk Premiums, default spreads, Crisis, valuation, cost of equity

18.

The Anatomy of an LBO: Leverage, Control and Value

Number of pages: 27 Posted: 22 Jul 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 5,268 (1,218)

Abstract:

Loading...

LBO, Leveraged Buyout, private equity, control, leverage, private

19.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications – The 2018 Edition

Number of pages: 133 Posted: 19 Mar 2018 Last Revised: 30 Jul 2018
Aswath Damodaran
New York University - Stern School of Business
Downloads 5,246 (1,326)
Citation 18

Abstract:

Loading...

20.

The Value of Synergy

Number of pages: 47 Posted: 14 Nov 2005
Aswath Damodaran
New York University - Stern School of Business
Downloads 4,889 (1,363)
Citation 1

Abstract:

Loading...

synergy, acquisitiion, valuation

21.

Risk Management: A Corporate Governance Manual

Number of pages: 113 Posted: 24 Sep 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 4,712 (1,457)
Citation 2

Abstract:

Loading...

risk management, risk hedging, risk aversion, corporate governance

22.

Living with Noise: Investing and Valuation in the Face of Uncertainty

Number of pages: 34 Posted: 20 Sep 2013
Aswath Damodaran
New York University - Stern School of Business
Downloads 4,639 (1,493)
Citation 1

Abstract:

Loading...

valuation, risk, uncertainty

23.

Into the Abyss: What If Nothing is Risk Free?

Number of pages: 55 Posted: 24 Jul 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 4,631 (1,499)

Abstract:

Loading...

Risk Free Rate, Government Default, Sovereign Risk

24.

Valuing Declining and Distressed Companies

Number of pages: 69 Posted: 02 Jul 2009
Aswath Damodaran
New York University - Stern School of Business
Downloads 4,206 (1,761)
Citation 2

Abstract:

Loading...

Distress, DCF valuation, declining firms

25.

Employee Stock Options (Esops) and Restricted Stock: Valuation Effects and Consequences

Number of pages: 52 Posted: 14 Nov 2005
Aswath Damodaran
New York University - Stern School of Business
Downloads 4,187 (1,772)
Citation 4

Abstract:

Loading...

employee stock options, ESOP, restricted stock, management options

26.

Dealing with Intangibles: Valuing Brand Names, Flexibility and Patents

Number of pages: 73 Posted: 08 Apr 2009
Aswath Damodaran
New York University - Stern School of Business
Downloads 4,182 (1,774)
Citation 3

Abstract:

Loading...

intangibles, brand name, patents, real options

27.

The Value of Control: Implications for Control Premia, Minority Discounts and Voting Share Differentials

Number of pages: 60 Posted: 14 Nov 2005
Aswath Damodaran
New York University - Stern School of Business
Downloads 3,699 (2,225)
Citation 3

Abstract:

Loading...

Control premium, voting shares, minority discounts, hostile acquisitions

28.

Equity Risk Premiums (ERP): Determinants, Estimation and Implications

Number of pages: 77 Posted: 01 Oct 2008 Last Revised: 17 Oct 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 3,584 (2,363)
Citation 23

Abstract:

Loading...

Equity Risk Premium, ERP, Implied Premium, Risk, Default spreads

29.

Marketability and Value: Measuring the Illiquidity Discount

Number of pages: 60 Posted: 14 Nov 2005
Aswath Damodaran
New York University - Stern School of Business
Downloads 3,328 (2,696)
Citation 4

Abstract:

Loading...

marketablity, illiquidity discount, liquidity discount, liquidity

30.

Breach of Trust: Valuing Financial Service Firms in the Post-Crisis Era

Number of pages: 34 Posted: 30 Mar 2011
Aswath Damodaran
New York University - Stern School of Business
Downloads 3,102 (3,061)

Abstract:

Loading...

banks, vauation, dividend discount model, regulatory capital

31.

The Promise and Peril of Real Options

NYU Working Paper No. S-DRP-05-02
Number of pages: 75 Posted: 05 Nov 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 2,944 (3,330)
Citation 16

Abstract:

Loading...

32.

Research and Development Expenses: Implications for Profitability Measurement and Valuation

NYU Working Paper No. FIN-99-024
Number of pages: 25 Posted: 07 Nov 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 2,843 (3,527)

Abstract:

Loading...

33.
Downloads 2,804 ( 3,601)
Citation 1

Leases, Debt and Value

Number of pages: 57 Posted: 17 Apr 2009
Aswath Damodaran
New York University - Stern School of Business
Downloads 2,000 (6,244)
Citation 1

Abstract:

Loading...

operating leases, financial leverage, debt

Leases, Debt and Value

Journal of Applied Research in Accounting and Finance (JARAF), Vol. 4, No. 1, pp. 3-29, 2009
Number of pages: 33 Posted: 17 Jul 2009
Aswath Damodaran
New York University - Stern School of Business
Downloads 804 (26,355)
Citation 1

Abstract:

Loading...

leases, profitability, leverage, valuation

34.

Dealing with Operating Leases in Valuation

NYU Working Paper No. FIN-99-023
Number of pages: 25 Posted: 07 Nov 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 2,804 (3,601)
Citation 1

Abstract:

Loading...

35.

Ups and Downs: Valuing Cyclical and Commodity Companies

Number of pages: 40 Posted: 03 Sep 2009
Aswath Damodaran
New York University - Stern School of Business
Downloads 2,762 (3,710)
Citation 1

Abstract:

Loading...

valuation, cyclial, commodity, normalized earnings

36.

Invisible Value? Valuing Companies with Intangible Assets

Number of pages: 36 Posted: 17 May 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 2,665 (3,946)
Citation 1

Abstract:

Loading...

Intangible Assets, Valuation

37.

Dealing with Cash, Cross Holdings and Other Non-Operating Assets: Approaches and Implications

Number of pages: 55 Posted: 14 Nov 2005
Aswath Damodaran
New York University - Stern School of Business
Downloads 2,455 (4,526)
Citation 2

Abstract:

Loading...

cash, cross holdings, non-operating assets

38.

Measuring Company Exposure to Country Risk: Theory and Practice

Number of pages: 30 Posted: 21 Mar 2006 Last Revised: 02 Sep 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 2,374 (4,795)
Citation 8

Abstract:

Loading...

country risk, emerging markets, beta

39.

Growth Investing: Betting on the Future?

Number of pages: 52 Posted: 29 Jul 2012 Last Revised: 14 Aug 2012
Aswath Damodaran
New York University - Stern School of Business
Downloads 2,354 (4,890)

Abstract:

Loading...

growth investing, small cap, IPO, venture capital

40.

The Dark Side of Valuation: Firms with No Earnings, No History and No Comparables

NYU Working Paper No. FIN-99-022
Number of pages: 54 Posted: 07 Nov 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 2,171 (5,597)
Citation 4

Abstract:

Loading...

41.

A New 'Risky' World Order: Unstable Risk Premiums: Implications for Practice

Number of pages: 64 Posted: 01 Sep 2010 Last Revised: 06 Sep 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,916 (6,865)

Abstract:

Loading...

Equity Risk Premiums, Default Spreads, Risk Premiums, Cost of Capital, Valuation

42.

Comatose Markets: What if Liquidity is Not the Norm?

Number of pages: 73 Posted: 22 Dec 2010 Last Revised: 11 Jan 2011
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,905 (6,951)

Abstract:

Loading...

liquidity, illiquidity, marketability, transactions costs, trading halts

43.

The Origins of Growth: Past Growth, Predicted Growth and Fundamental Growth

Number of pages: 55 Posted: 22 Jul 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,699 (8,493)
Citation 1

Abstract:

Loading...

growth, sustainable growth, value, excess returns

44.

The Octopus: Valuing Multi-Business, Multi-National Companies

Number of pages: 42 Posted: 17 May 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,685 (8,587)
Citation 1

Abstract:

Loading...

Multinational, Valuation, Sum of the Parts

45.

Going to Pieces: Valuing Users, Subscribers and Customers

Number of pages: 46 Posted: 22 May 2018 Last Revised: 27 May 2018
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,639 (9,389)

Abstract:

Loading...

46.

Volatility Rules: Valuing Emerging Market Companies

Number of pages: 38 Posted: 17 May 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,342 (12,445)
Citation 1

Abstract:

Loading...

Emerging Market, Valuation

47.
Downloads 1,316 ( 12,838)

Value and Risk: Beyond Betas

Number of pages: 47 Posted: 21 Mar 2006
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,316 (12,570)
Citation 2

Abstract:

Loading...

risk management, value

Value and Risk: Beyond Betas

Financial Analysts Journal, Vol. 61, No. 2, pp. 38-43, March/April 2005
Posted: 05 May 2005
Aswath Damodaran
New York University - Stern School of Business

Abstract:

Loading...

Equity Investments, Fundamental Analysis, Valuation Models, Risk Measurement, Management, Firm/Enterprise Risk, Corporate Finance, Capital Investment Decisions

48.

The Value of Transparency and the Cost of Complexity

Number of pages: 47 Posted: 06 Mar 2006
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,097 (16,929)
Citation 2

Abstract:

Loading...

transparency, opacity, complexity, valuation

49.

Country Risk: Determinants, Measures and Implications - The 2018 Edition

Number of pages: 122 Posted: 30 Jul 2018 Last Revised: 05 Aug 2018
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,018 (104,691)

Abstract:

Loading...

50.

Value Creation and Enhancement: Back to the Future

NYU Working Paper No. FIN-99-018
Number of pages: 72 Posted: 07 Nov 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 848 (24,857)
Citation 10

Abstract:

Loading...

51.

The Cost of Distress: Survival, Truncation Risk and Valuation

Number of pages: 50 Posted: 02 Mar 2006
Aswath Damodaran
New York University - Stern School of Business
Downloads 845 (24,967)
Citation 2

Abstract:

Loading...

distress, value, adjusted present value, survival

52.

Financing Innovations and Capital Structure Choices

NYU Working Paper No. FIN-99-020
Number of pages: 16 Posted: 07 Nov 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 788 (27,614)

Abstract:

Loading...

53.

Valuing Financial Services Firms

Journal of Financial Perspectives, Vol. 1, No. 1, 2013
Number of pages: 20 Posted: 26 Nov 2017
Aswath Damodaran
New York University - Stern School of Business
Downloads 580 (43,174)
Citation 1

Abstract:

Loading...

54.

Living with Noise: Valuation in the Face of Uncertainty

Journal of Applied Finance (Formerly Financial Practice and Education), Vol. 23, No. 2, 2013
Number of pages: 17 Posted: 06 Nov 2015
Aswath Damodaran
New York University - Stern School of Business
Downloads 486 (52,447)
Citation 1

Abstract:

Loading...

55.

Claims on Equity: Voting and Liquidity Differentials, Cash Flow Preferences and Financing Rights

Number of pages: 91 Posted: 27 Aug 2008
Aswath Damodaran
New York University - Stern School of Business
Downloads 445 (58,254)

Abstract:

Loading...

valuation, dual class shares, liquidity, voting vs non-voting shares, dividend preferences

56.

Country Risk and Company Exposure: Theory and Practice

Journal of Applied Finance, Vol. 13, No. 2, Fall/Winter 2003
Number of pages: 14 Posted: 10 Jan 2005
Aswath Damodaran
New York University - Stern School of Business
Downloads 422 (62,158)
Citation 7

Abstract:

Loading...

57.

Relative Valuation, Differential Information, and Cross-Sectional Differences in Stock Return Volatility

NYU Working Paper No. FIN-96-023
Number of pages: 41 Posted: 11 Nov 2008
Eberhart Allan and Aswath Damodaran
affiliation not provided to SSRN and New York University - Stern School of Business
Downloads 421 (62,158)

Abstract:

Loading...

58.

Risk Taking: A Corporate Governance Perspective

Number of pages: 64 Posted: 28 Jan 2015
Oliviero Roggi, Aswath Damodaran and Maxine Garvey
University of Florence - Department of Economics, Management and Finance, New York University - Stern School of Business and World Bank - International Finance Corporation (IFC)
Downloads 254 (110,312)

Abstract:

Loading...

Enterprise Risk Management, Valuation, Corporate Finance, Risk Management

59.

Valuation Approaches and Metrics: A Survey of the Theory and Evidence

Foundations and Trends in Finance, Vol. 1, No. 8, 2005
Number of pages: 92 Posted: 14 Jun 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 102 (240,512)
Citation 15
  • Add to Cart

Abstract:

Loading...

60.

Response to How to Market the Markets: The Trouble with Profit Maximization

Eastern Economic Journal, Vol. 43, Issue 2, 2017
Number of pages: 2 Posted: 24 Apr 2018
Aswath Damodaran
New York University - Stern School of Business
Downloads 0 (607,895)
  • Add to Cart

Abstract:

Loading...