IBEX 35: 1991-2009 - Value Creation and Return

Fernandez, Pablo; del Campo Baonza, Javier

doi:10.2139/ssrn.1541082

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IBEX 35: 1991-2009 - Value Creation and Return

15 Pages Posted: 23 Jan 2010 Last revised: 6 Feb 2010

See all articles by Pablo Fernandez

Javier del Campo Baonza

affiliation not provided to SSRN

Date Written: January 22, 2010

Abstract

We compute the shareholder value creation and the return of the companies in the IBEX 35 for the 18-year period 1991-2009. The average return was 12.5%, but 4.4% was due to the decline in interest rates (from 13% to 4%). The shareholder value creation in the whole period was 101 billion euros, despite a value destruction of 238 billion euros in 2008.

Note: Downloadable document is in Spanish.

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

JEL Classification: G12, G31, M21

Suggested Citation: Suggested Citation

Fernandez, Pablo and del Campo Baonza, Javier, IBEX 35: 1991-2009 - Value Creation and Return (January 22, 2010). Available at SSRN: https://ssrn.com/abstract=1541082 or http://dx.doi.org/10.2139/ssrn.1541082