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IBEX 35: 1991-2010 - Value Creation and Return

16 Pages Posted: 11 Jan 2011 Last revised: 23 Jan 2011

Pablo Fernandez

University of Navarra - IESE Business School

Javier Aguirreamalloa

IESE Business School

Luis Corres Avendaño

IESE

Date Written: January 10, 2011

Abstract

We compute the shareholder value creation and the return of the companies in the IBEX 35 for the 19-year period 1991-201'3 The average return was 11%, but 2.9% was due to the decline in interest rates (from 13% to 5.5%). The shareholder value creation in the whole period was 23 billion euros, despite a value destruction of 238 billion euros in 2008 and another one of 87 billion euros in 2010.

Notes: Downloadable document is in Spanish.

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

JEL Classification: G12, G31, M21

Suggested Citation

Fernandez, Pablo and Aguirreamalloa, Javier and Avendaño, Luis Corres, IBEX 35: 1991-2010 - Value Creation and Return (January 10, 2011). Available at SSRN: https://ssrn.com/abstract=1737860 or http://dx.doi.org/10.2139/ssrn.1737860

Pablo Fernandez (Contact Author)

University of Navarra - IESE Business School ( email )

Camino del Cerro del Aguila 3
28023 Madrid
Spain
+34 91 357 0809 (Phone)
+34 91 357 2913 (Fax)

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

Javier Aguirreamalloa

IESE Business School ( email )

08034 Barcelona
Spain

Luis Corres Avendaño

IESE ( email )

Camino del Cerro del Águila, 3
28023 Madrid, Madrid
Spain
656940704 (Phone)

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