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Methoden und Bedeutung der Unternehmensbewertung bei Aktiengesellschaften

Methoden und Bedeutung der Unternehmensbewertung bei Aktiengesellschaften

          
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About the Book

Diplomarbeit aus dem Jahr 2002 im Fachbereich BWL - Allgemeines, Note: 1,7, Verwaltungs- und Wirtschafts-Akademie Dortmund (-), Sprache: Deutsch, Abstract: Aktienanalysen, Börsenwert und Unternehmenswert Finanzjournalisten, Wertpapieranalysten und Effektenberater interpretieren die Marktbewertungen von börsennotierten Unternehmen für das interessierte Publikum.1 So werden bestehende Bewertungen von Aktien bestätigt oder Fehlbewertungen aufgezeigt.Strategische Alternativen werden dabei verglichen, Geschäftsfelder beurteilt und Anreize auf der Grundlage möglicher Wertsteigerungen geschaffen.2 Der Bewerter löst, wie der Marktpreis selbst, in der zeitlichen Folge Reaktionen (Kauf, Halten, Verkauf) bei den Marktteilnehmern aus, welche durch Stimmungen, nicht rational fassbaren Motiven, Marktengen bei bestimmten Aktien und auch durch Fehlinformationen begleitet werden.3 Sollten verschiedene Analysten ausnahmsweise zu einer übereinstimmenden Bewertung bzw. Beurteilung von Aktien kommen, führen die Ergebnisse der Aktienbewertungen häufig zu einer sprachlichen Verwirrung. Die üblicherweise in englischer Sprache verbreiteten Aktienbewertungen wollen, trotz gleicher Wortwahl verschiedener Analysten, unterschiedliche Aktienkursentwicklungen antizipieren. Besonders deutliche Unterschiede sind in den Bewertungsbegriffen Outperformer, Marketperformer und Underperformer anzutreffen. Weitere übliche Begriffe wie Strong Buy, Buy, Hold, Sell und Strong Sell werden durch Empfehlungen wie Moderate Buy, Accumulate, Reduce und Moderate Sell ergänzt. Der Begriff "Accumulate" wird beispielsweise von Marktteilnehmern sowohl als moderate Kaufempfehlung als auch als verkappte Verkaufsempfehlung interpretiert. Ein "Strong Buy" bedeutet sicherlich durch die starke Kaufempfehlung die höchste Auszeichnung von Analysten. Dagegen wird man bei Goldmann Sachs zur Erlangung dieser Auszeichnung auf die Recommended List gesetzt. Der Rat suchende Marktteilnehmer erhält noch weitere Entscheidungshilfen,


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Product Details
  • ISBN-13: 9783656620549
  • Publisher: Grin Publishing
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 4 mm
  • Width: 148 mm
  • ISBN-10: 3656620547
  • Publisher Date: 26 Mar 2014
  • Height: 210 mm
  • No of Pages: 64
  • Series Title: German
  • Weight: 95 gr


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Methoden und Bedeutung der Unternehmensbewertung bei Aktiengesellschaften
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