Damodaran on Valuation: Security Analysis for Investment and Corporate Finance

by Aswath Damodaran

"Aswath Damodaran is simply the best valuation teacher around. If you are interested in the theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf. You can bet that I do." -- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places.

In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for answering many of todays critical valuation questions. Completely revised and updated, this edition is the ideal book on valuation for CEOs and corporate strategists. You'll gain an understanding of the vitality of todays valuation models and develop the acumen needed for the most complex and subtle valuation scenarios you will face.

From the Inside Flap

The ability to value any asset is an essential skill in a wide variety of professional environments, from corporate finance to portfolio management to strategy. And while the reasons for doing valuation are as wide-ranging and varied as business itself, the fundamental precepts underlying valuation are surprisingly similar in both form and function.

Damodaran on Valuation, Second Edition provides you with today's most straightforward and comprehensive examination of the approaches and models necessary for performing valuations. Written by renowned teacher, author, and valuation authority Aswath Damodaran, and fully revised and updated from its top-selling first edition—which has become the essential reference for any professional needing accurate and reliable valuation information—this invaluable book now provides you with:

    * In-depth coverage of different distinct valuation approaches and key models within each
    * Techniques for accurately assessing the effect on value of employee stock options and other equity-based compensation
    * Methodologies for using valuation models to value intangible assets—patents, copyrights, trademarks, licenses, brand names, and more
    * Sound strategies for identifying and measuring the value of control in any business and why the expected value of control plays a role in many different valuation contexts
    * Discussion of how liquidity—or, more accurately, illiquidity—affects value, along with ways to measure this impact on value
    * Potential sources of the ever-elusive "synergy" when combining two entities, how best to value each type of synergy, and an examination of why firms so often overpay for synergy
    * Techniques for measuring the costs of accounting opacity and business complexity, and accurately discounting the value of complex firms to promote transparency at every level
    * A commonsense framework you can use to sift through numerous possible valuation models to determine the best model for your valuation task

For more than a decade, Damodaran on Valuation has been the standard valuation reference for professionals in virtually everyfield. Business realities have changed dramatically over that time, but the principles underlying valuation have not. Let this comprehensively revised and updated edition give you the knowledge and tools you need to address today's increasingly complex—and uncompromising—corporate and investment valuation environment.

Product Details

    * Hardcover: 696 pages
    * Publisher: Wiley; 2 edition (August 4, 2006)
    * Language: English
    * ISBN-10: 0471751219
    * ISBN-13: 978-0471751212
    * Product Dimensions: 9.8 x 7.3 x 1.6 inches
    * Shipping Weight: 2.9 pounds