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The Economics of Business Valuation
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The Economics of Business Valuation: Towards a Value Functional Approach

Patrick Anderson

Abstract

For decades, the traditional approaches to business valuation (market, asset, and income) have taken center stage in the assessment of the firm. This book presents an expanded valuation toolkit, consisting of nine well-defined valuation principles hailing from the fields of economics, finance, accounting, taxation, and management. It ultimately argues that the “value functional” approach to business valuation avoids most of the shortcomings of its competitors, and more correctly matches the actual motivations and information held by stakeholders. To remedy the shortcomings of existing theory, ... More

Keywords: value, firm, business value, Economics, Finance, net present value rule, recursive model, value functional equation, basic pricing equation, stochastic discount factor

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780804758307
Published to Stanford Scholarship Online: September 2013 DOI:10.11126/stanford/9780804758307.001.0001

Authors

Affiliations are at time of print publication.

Patrick Anderson, author