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

51

DOWNLOADS
Rank 11

SSRN RANKINGS

Top 11

in Total Papers Downloads

242,080

CITATIONS
Rank 2,162

SSRN RANKINGS

Top 2,162

in Total Papers Citations

257

Scholarly Papers (51)

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 23,977 (48)
Citation 18

Abstract:

Equity Risk Premiums, risk premiums, default spreads

2.

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 12,413 (187)
Citation 19

Abstract:

Equity Risk Premiums, Default Spreads

3.

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 11,498 (183)

Abstract:

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

4.

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 11,036 (216)
Citation 20

Abstract:

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

5.

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 10,006 (263)
Citation 18

Abstract:

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

6.

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 8,059 (287)
Citation 2

Abstract:

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

7.

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 6,844 (65)
Citation 18

Abstract:

8.

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 6,783 (383)
Citation 18

Abstract:

9.

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 6,681 (594)
Citation 2

Abstract:

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

10.

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 6,546 (493)
Citation 3

Abstract:

riskfree rate, cost of equity, discount rate, valuation

11.

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 5,713 (605)
Citation 1

Abstract:

valuation, growth companies, venture capital approach

12.

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 4,208 (1,167)

Abstract:

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

13.

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 3,808 (1,509)

Abstract:

Risk Free Rate, Government Default, Sovereign Risk

14.

Risk Management: A Corporate Governance Manual

Number of pages: 113 Posted: 24 Sep 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 3,772 (1,390)
Citation 2

Abstract:

risk management, risk hedging, risk aversion, corporate governance

15.

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 3,716 (1,350)
Citation 1

Abstract:

valuation, risk, uncertainty

16.

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 3,460 (1,891)
Citation 23

Abstract:

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

17.

The Value of Synergy

Number of pages: 47 Posted: 14 Nov 2005
Aswath Damodaran
New York University - Stern School of Business
Downloads 3,352 (1,580)
Citation 1

Abstract:

synergy, acquisitiion, valuation

18.

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 3,146 (1,746)
Citation 3

Abstract:

intangibles, brand name, patents, real options

19.

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 3,126 (87)

Abstract:

Country Risk, Currency Risk, Equity Risk Premiums

20.

Valuing Declining and Distressed Companies

Number of pages: 69 Posted: 02 Jul 2009
Aswath Damodaran
New York University - Stern School of Business
Downloads 3,115 (1,816)
Citation 2

Abstract:

Distress, DCF valuation, declining firms

21.

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 2,925 (2,233)
Citation 3

Abstract:

Control premium, voting shares, minority discounts, hostile acquisitions

22.

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 2,790 (1,989)
Citation 3

Abstract:

employee stock options, ESOP, restricted stock, management options

23.

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 2,495 (3,122)
Citation 1

Abstract:

24.

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 2,471 (2,699)
Citation 4

Abstract:

marketablity, illiquidity discount, liquidity discount, liquidity

25.

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 2,296 (3,507)
Citation 17

Abstract:

26.
Downloads 2,247 ( 4,189)
Citation 1

Leases, Debt and Value

Number of pages: 57 Posted: 17 Apr 2009
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,539 (7,895)
Citation 1

Abstract:

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 708 (26,122)
Citation 1

Abstract:

leases, profitability, leverage, valuation

27.

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 2,186 (3,275)

Abstract:

banks, vauation, dividend discount model, regulatory capital

28.

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 2,132 (3,700)
Citation 1

Abstract:

valuation, cyclial, commodity, normalized earnings

29.

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 1,942 (3,628)
Citation 1

Abstract:

Intangible Assets, Valuation

30.

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 1,911 (4,643)
Citation 8

Abstract:

country risk, emerging markets, beta

31.

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 1,908 (4,901)
Citation 2

Abstract:

cash, cross holdings, non-operating assets

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 1,866 (4,154)

Abstract:

33.

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 1,667 (6,233)

Abstract:

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

34.

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 1,597 (5,419)

Abstract:

growth investing, small cap, IPO, venture capital

35.

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 1,409 (6,532)
Citation 4

Abstract:

36.

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 1,358 (8,015)

Abstract:

liquidity, illiquidity, marketability, transactions costs, trading halts

37.
Downloads 1,236 ( 11,524)

Value and Risk: Beyond Betas

Number of pages: 47 Posted: 21 Mar 2006
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,236 (11,270)
Citation 2

Abstract:

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:

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

38.

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 1,170 (9,141)
Citation 1

Abstract:

growth, sustainable growth, value, excess returns

39.

Volatility Rules: Valuing Emerging Market Companies

Number of pages: 38 Posted: 17 May 2010
Aswath Damodaran
New York University - Stern School of Business
Downloads 1,126 (11,832)
Citation 1

Abstract:

Emerging Market, Valuation

40.

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 973 (14,097)
Citation 1

Abstract:

Multinational, Valuation, Sum of the Parts

41.

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 960 (15,447)
Citation 2

Abstract:

transparency, opacity, complexity, valuation

42.

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 724 (23,347)
Citation 2

Abstract:

distress, value, adjusted present value, survival

43.

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 667 (25,941)

Abstract:

44.

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 633 (24,359)
Citation 10

Abstract:

45.

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 378 (55,289)

Abstract:

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

46.

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 357 (57,659)

Abstract:

47.

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 101 (206,859)
Citation 15

Abstract:

48.

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 27 (122,202)
Citation 8

Abstract:

49.

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 0 (2,580)

Abstract:

50.

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 0 (581)
Citation 18

Abstract:

51.

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 0 (151,925)
Citation 1

Abstract: