16 Pages Posted: 11 Jan 2011 Last revised: 23 Jan 2011
Date Written: January 10, 2011
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: 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