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Bewertung von ausländischen Tochtergesellschaften im Rahmen eines Shareholder-Value-Ansatzes

Bewertung von ausländischen Tochtergesellschaften im Rahmen eines Shareholder-Value-Ansatzes

          
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About the Book

Inhaltsangabe: Einleitung: Die Unternehmensbewertung im Rahmen eines Shareholder-Value-Ansatzes stellt eine der aktuellsten Formen der Bewertung vor allem ausländischer Gesellschaften dar. Hierbei ist nicht nur das Verfahren selbst, sondern auch der Hintergrund der Bewertung beachtenswert. "Für die Betriebswirtschaftslehre hat die Unternehmensbewertungsproblematik seit jeher eine besondere Faszination ausgeübt. Maßgeblich hierfür scheint einmal die Möglichkeit der vermeintlich klaren Problemstrukturierung, erklärend aber auch das scheinbar vielfältige und unterschiedliche Angebot an Methoden zur Lösung des Problems." Der Shareholder-Value-Ansatz wird besonders in den USA und Großbritannien bei der Unternehmensbewertung berücksichtigt. Eine zunehmende Rolle kommt diesem Bewertungsansatz aber auch im deutschen Sprachraum zu. In Deutschland ist der Shareholder-Value-Ansatz in Verbindung mit der Discounted-Cash-Flow-Methode bereits ein etabliertes Bewertungsverfahren, wie die folgende empirische Erhebung von PEEMÖLLER zeigt. Die Bedeutung des Shareholder-Value-Ansatzes im Rahmen der Bewertung ausländischer Tochtergesellschaften wird im Laufe dieser Ausführung deutlich werden. Inhaltsverzeichnis: Inhaltsverzeichnis: AbkürzungsverzeichnisIII 1.Einführung1 2.Der Shareholder-Value-Ansatz2 2.1Gründe für die Entwicklung des Shareholder-Value-Ansatzes2 2.1.1Schwächen der Zahlen des Rechnungswesens3 2.1.2Berücksichtigung der Aktionärsinteressen5 2.2Aufbau des Shareholder-Value-Ansatzes6 2.2.1Zusammensetzung des Aktionärsvermögens6 2.2.2Cash-flow in der Prognoseperiode8 2.2.3Kapitalkosten: Eigen- und Fremdkapitalkosten10 2.2.4Restwert oder Residualwert11 2.2.5Wert des nicht betriebsnotwendigen Vermögens12 3.Vergleichbare Konzepte zum Shareholder-Value-Ansatz13 3.1Cash-Flow-Return-On-Investment14 3.1.1Wiederbeschaffungswert, Cash-flow und Nutzungsdauer14 3.1.2Cash-Flow-Return-On-Investment und andere Kennzahlen16 3.1.3Cash-Flow-Return-On-Investment und DCF-M


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Product Details
  • ISBN-13: 9783838603049
  • Publisher: Diplom.de
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 6 mm
  • Width: 148 mm
  • ISBN-10: 3838603044
  • Publisher Date: 25 Aug 1997
  • Height: 210 mm
  • No of Pages: 100
  • Series Title: German
  • Weight: 140 gr


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