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

Fernandez, Pablo; Carabias, Jose M.

doi:10.2139/ssrn.959184

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

38 Pages Posted: 24 Jan 2007

See all articles by Pablo Fernandez

Jose M. Carabias

London School 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: 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