Creation of Value for the Shareholders of Telefonica: 1991-2006

38 Pages Posted: 24 Jan 2007

See all articles by Pablo Fernandez

Pablo Fernandez

University of Navarra - IESE Business School

Jose M. Carabias

London School of Economics & Political Science (LSE) - Department of Economics

Date Written: January 24, 2007

Abstract

The market cap of Telefonica increased between December 1991 and December 2006 in 72.5 billion euros. The shareholder value creation during this period was 28.2 billion euros. The average shareholder return of Telefonica in this 15 years was 17.7%, higher than that of the IBEX 35 (15.4%). We also compare the shareholder return of Telefonica with that of other Telecoms.

Keywords: Telefonica, IBEX, shareholder return, shareholder value creation

JEL Classification: G12, G31, M21

Suggested Citation

Fernandez, Pablo and Carabias, Jose M., Creation of Value for the Shareholders of Telefonica: 1991-2006 (January 24, 2007). Available at SSRN: https://ssrn.com/abstract=959184 or http://dx.doi.org/10.2139/ssrn.959184

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/

Jose M. Carabias

London School of Economics & Political Science (LSE) - Department of Economics ( email )

Houghton Street
London WC2A 2AE
United Kingdom

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