Valuation is the natural starting point toward buying or selling a business or securities on a stock market. Essential in wealth management, the valuation process allows the measurement of the strengths and weaknesses of a company and becomes a historical reference in its development. Determining the value of a business is a complex task that is more like abstract art than exact science. The concept of company valuation is better defined by a range of possible values than by an absolute and definitive dollar amount, since each method is associated with many assumptions and sensitive variables.This book is not an academic and exhaustive list of all the existing techniques; on the contrary, it focuses on the essential methods grouped into three global approaches: the asset-based approach, the fundamental or DCF approach, and the comparable company approach. Of interest to corporate finance and investment students, academics, and practitioners, this book provides the basics needed to estimate the value of a small business. weiterlesen