Investment Valuation  2nd Edition
This web site is designed to support "Investment Valuation",
the second edition. The publisher is John Wiley and Sons. You can navigate
the site by either going to individual chapters and getting supporting material
by chapter, or by going to the supporting material directly. The supporting
material includes:
Spreadsheets  Overheads  Datasets  References 
Solutions  Derivations and Discussion  Web Casts  Powerpoint Presentations 
Topic  Details 
Overheads


Estimation Issues and Questions  
Solutions to Problems  Download as pdf file 
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations  Illustration
2.1: Effects of mismatching cashflows and discount rates Illustration 2.2. The potential for misuse with comparable firms 
Data Sets  
Spreadsheets  
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations  
Data Sets 
optvar.xls:
There is a dataset on the web that summarizes standard deviations and
variances of stocks in various sectors in the United States 
Spreadsheets  
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
6.1: Example of an event study  Effects of Option Listing on Stock
prices 
Answers to Concept Checks/ Critical Thinking  
Data Sets  
Spreadsheets  
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
9.1: Updated Earnings for Ariba: June 2000 
Data Sets  
Spreadsheets  R&Dconv.xls:
This spreadsheet allows you to convert R&D expenses from operating
to capital expenses. oplease.xls: This spreadsheet allows you to convert operating lease expenses into debt. 
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
17.1: Comparing PE ratios and growth rates across firms: Beverage Companies 
Data Sets  
Spreadsheets  
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration 21.1: Stable Growth Dividend Discount Model – Citigroup 
Data Sets  
Spreadsheets  eqexret.xls: Estimates the value of a financial service firm from the expected excess returns in the future. 
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
23.1: Commerce One: Last Financial Year versus Trailing 12 Months 
Data Sets 

Spreadsheets 
higrowth.xls: Values a high growth firm, based on revenue growth and target margins. 
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
25.1: A Status Quo Valuation of Digital 
Data Sets 

Spreadsheets 
synergy.xls:
This spreadsheet allows you to estimate the approximate value of synergy
in a merger or acquisition. 
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
26.1: Valuing an office building 
Data Sets 

Spreadsheets 
reval.xls: Values a incomegenerating real estate properties. 
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
27.1: Valuing a New York City Cab Medallion: June 1994 
Data Sets 

Spreadsheets 

Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
28.1: Valuing the Option to Delay a Project 
Data Sets  
Spreadsheets 
delay.xls:
Estimate the value of an option to delay an investment. 
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
29.1: Valuing an Option to Expand: Ambev and Guarana 
Data Sets  
Spreadsheets 
expand.xls:
This spreadsheet allows you to estimate the value of the option to expand
a project to cover new markets or new products, using the BlackScholes
model. 
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
30.1: Valuing Equity as an Option 
Data Sets  
Spreadsheets 
equity.xls: Estimate the value the equity in a troubled firm as an option. 
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
32.1: Discounted Cashflow Value and Economic Value Added 
Data Sets 
eva.xls: Firm and Equity EVAs by industry group for the United States 
Spreadsheets  
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
33.1: Valuing a straight bond at issue 
Data Sets  
Spreadsheets 
bondval.xls:
Estimates the value of a straight bond 
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 
Illustration
34.1: Futures versus Forward Contracts  Gold Futures Contract 
Data Sets 

Spreadsheets 
commfuture.xls:
Estimates fair price for a storable commodity future 
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Details 
Overheads  Download as pdf file 
Illustrations 

Data Sets 

Spreadsheets  
Solutions to Problems  Download as pdf file 
Estimation Issues and Questions  
Readings 
Topic  Chapters 
Introduction to Valuation  Chapter 12 
Discounted Cashflow Valuation: Estimating Inputs  Chapter 3,4,612, 16 
Discounted Cashflow Valuation: Examples  Chapter 1315, 2123 
Relative Valuation  Chapters 1720 
Valuing Private Companies  Chapter 24 
Option Applications in Valuation  Chapter 2830 
Valuing Acquisitions  Chapter 25 
Value Enhancement  Chapter 3132 
Closing thoughts 
Chapter 35 
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25  26  27  28  29  30  
31  32  33  34  35  