Asset-based valuation: a modified discounted cash flow approach

Rafael Yanushevsky, Daniel Yanushevsky and Camilla Yanushevsky

Chapter 4 in Handbook of Banking and Finance in Emerging Markets, 2022, pp 70-82 from Edward Elgar Publishing

Abstract: The discounted cash flow approach is based on the fundamental analysis of a firm's activity. In its pure academic interpretation it ignores the market value of a business, the enterprise values, which can represent the intrinsic value only in the efficient market. We offer to use the modified intrinsic value model to obtain some cost estimates that would create a certain negotiation set for both - buyers and sellers, to obtain a certain negotiation set useful for decision making to find a rational trade-off. In contrast to the existing valuation procedures, the considered approach offers the valuation procedure that operates only with variables characterizing a certain finite forecasting period.

Keywords: Development Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2022
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