IBEX 35: Shareholder Value Creation 1992-2006

Fernandez, Pablo; Carabias, Jose M.

doi:10.2139/ssrn.959110

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IBEX 35: Shareholder Value Creation 1992-2006

21 Pages Posted: 24 Jan 2007

See all articles by Pablo Fernandez

Jose M. Carabias

London School of Economics

Date Written: January 23, 2007

Abstract

We compute the shareholder value creation of the companies in the IBEX 35 for the 15-year period 1992-2006. The average return was 15.4%, but 5.2% was due to the decline in interest rates (from 12.5% to 4%). The shareholder value creation was 196 billion euros. As usual, smaller companies were more profitable.

Keywords: IBEX 35, Shareholder value creation, IGBM, ITBM

JEL Classification: G12, G31, M21

Suggested Citation: Suggested Citation

Fernandez, Pablo and Carabias, Jose M., IBEX 35: Shareholder Value Creation 1992-2006 (January 23, 2007). Available at SSRN: https://ssrn.com/abstract=959110 or http://dx.doi.org/10.2139/ssrn.959110