D., and J. Lakonishok. 1984. The quality of analysts’ forecasts of earnings.

Financial Analysts Journal 40:40–47.

Hawkins, E. H., S. C. Chamberlin, and W. E. Daniel. 1984. Earnings expectations and security prices. Financial Analysts Journal 40:24–27, 30–38, 74.

Little, I. M. D. 1960. Higgledy piggledy growth. Oxford: Institute of Statistics.

O’Brien, P. 1988. Analysts’ forecasts as earnings expectations. Journal of Accounting and Economics 10:53–83.

Vander Weide, J. H., and W. T. Carleton. 1988. Investor growth expectations: Analysts vs. history. Journal of Portfolio Management 14:78–83.

Watts, R. 1975. The time series behavior of quarterly earnings. Working paper. University of Newcastle.

Глава 12. ЗАВЕРШЕНИЕ ОЦЕНКИ: ОЦЕНКА ЗАКЛЮЧИТЕЛЬНОЙ СТОИМОСТИ

Altman, E. I. 1968. Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. Journal of Finance 23:589–609.

Grant, R. M. 1998. Contemporary strategy analysis. Maiden, MA: Blackwell.

Mauboussin, M., and P. Johnson. 1997. Competitive advantage period: The neglected value driver. Financial Management 26(2):67–74.

Porter, M. E. 1980. Competitive strategy: Techniques for analyzing industries and competitors. New York: Free Press.

Глава 13. МОДЕЛЬ ДИСКОНТИРОВАНИЯ ДИВИДЕНДОВ

Bethke, W. M., and S.E. Boyd. 1983. Should dividend discount models be yield-tilted? Journal of Portfolio Management 9:23–27.

Estep, T. 1987. Security analysis and stock selection: Turning financial information into return forecasts. Financial Analysts Journal 43:34–43.

Estep, T. 1985. A new method for valuing common stocks. Financial Analysts Journal 41:26, 27, 30–33.

Fuller, R. J., and C. Hsia. 1984. A simplified common stock valuation model. Financial Analysts Journal 40:49–56.

Gordon, M. 1962. The investment, financing and valuation of the corporation. Homewood, IL: Irwin.

Haugen, R. 1997. Modern investment theory. Upper Saddle River, NJ: Prentice Hall.

Jacobs, B. I., and K. N. Levy. 1988a. Disentangling equity return irregularities: New insights and investment opportunities. Financial Analysts Journal 44:18–44.

Jacobs, B. I., and K. N. Levy. 1988b. On the value of «value». Financial Analysts Journal 44:47–62.

Litzenberger, R. H., and K. Ramaswamy. 1979. The effect of personal taxes and dividends on capital asset prices: Theory and empirical evidence. Journal of Financial Economics 7:163–196.

Sorensen, E. H., and D. A. Williamson. 1985. Some evidence on the value of the dividend discount model. Financial Analysts Journal 41:60–69.

Глава 14. МОДЕЛЬ СВОБОДНЫХ ДЕНЕЖНЫХ ПОТОКОВ НА СОБСТВЕННЫЙ КАПИТАЛ

Damodaran, A. 2001. Corporate finance: Theory and practice, 2d ed. New York: John Wiley & Sons.

Глава 15. ОЦЕНКА ФИРМЫ: ПОДХОДЫ НА ОСНОВЕ СТОИМОСТИ ПРИВЛЕЧЕНИЯ КАПИТАЛА И СКОРРЕКТИРОВАННОЙ ПРИВЕДЕННОЙ СТОИМОСТИ

Altman, E. I., and V. Kishore. 2000. The default experience of U.S. bonds. Working paper, Salomon Center, New York University.

Barclay, M. J., C. W. Smith, and R. L. Watts. 1995. The determinants of corporate leverage and dividend policies. Journal of Applied Corporate Finance 7(4):4-19. Bhide, A. 1993. Reversing corporate diversification. In The new corporate finance – Where theory meets practice, ed. D. H. Chew Jr. New York: McGraw-Hill. Damodaran, A. 2001. Corporate finance: Theory and practice, 2d ed. New York: John Wiley & Sons.

Davis, D., and K. Lee. 1997. A practical approach to capital structure for banks.

Journal of Applied Corporate Finance 10(l):33–43.

Denis, D. J., and D. K. Denis. 1993. Leveraged recaps in the curbing of corporate overinvestment. Journal of Applied Corporate Finance 6(1):60–71.

Graham, J. 1996. Debt and the marginal tax rate. Journal of Financial Economics 41:41–73.

Inselbag, L, and H. Kaufold. 1997. Two DCF approaches and valuing companies under alternative financing strategies. Journal of Applied Corporate Finance 10(1):115–122.

Jensen, M. C. 1986. Agency costs of free cash flow, corporate finance, and takeovers.

American Economic Review 76:323–329.

Kaplan, S. N. 1989. Campeau’s acquisition of Federated: Value destroyed or value added? Journal of Financial Economics 25:191–212.

Mackie-Mason, J. 1990. Do taxes affect corporate financing decisions? Journal of Finance 45:1471–1494.

Miller, M. 1977. Debt and taxes. Journal of Finance 32:261–275.

Modigliani, F., and M. Miller. 1958. The cost of capital, corporation finance and the theory of investment. American Economic Review 48:261–297.

Myers, S. C. 1976. Determinants of corporate borrowing. Journal of Financial Economics 5:147–175.

Myers, S. C., and N. S. Majluf. 1984. Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics 13:187–221.

Opler, T., M. Saron, and S. Titman. 1997. Designing capital structure to create stockholder value. Journal of Applied Corporate Finance 10:21–32.

Palepu, K. G. 1986. Predicting takeover targets: A methodological and empirical analysis. Journal of Accounting and Economics 8(l):3-35.

Palepu, K. G. 1990. Consequences of leveraged buyouts. Journal of Financial Economics 26:247–262.

Pinegar, J. M., and L. Wilbricht. 1989. What managers think of capital structure theory: A survey. Financial Management 18(4):82–91.

Shapiro, A. 1989. Modern corporate finance. New York: Macmillan.

Smith, A. J. 1990. Corporate ownership structure and performance: The case of management buyouts. Journal of Financial Economics 27:143–164.

Smith, C. W. 1986. Investment banking and the capital acquisition process. Journal of Financial Economics 15:3-29.

Titman, S. 1984. The effect of capital structure on a firm’s liquidation decision.

Journal of Financial Economics 13:137–151.

Warner, J. N. 1977. Bankruptcy costs: Some evidence. Journal of Finance 32:337–347.

Глава 16. ОПРЕДЕЛЕНИЕ СТОИМОСТИ СОБСТВЕННОГО КАПИТАЛА НА ОДНУ АКЦИЮ

Carpenter, J. 1998. The exercise and valuation of executive stock options. Journal of Financial Economics 48:127–158.

Cuny, C. C., and P. Jorion. 1995. Valuing executive stock options with endogenous departure. Journal of Accounting and Economics 20:193–205.

Damodaran, A. 1999. Dealing with cash, marketable securities and cross holdings. Working paper. www.stern.nyu.edu/~adamodar/New_Home_Page/papers.html.

Lease, R. C., J. J. McConnell, and W. H. Mikkelson. 1983. The market value of control in publicly-traded corporations. Journal of Financial Economics 11:439–471.

Глава 17. ФУНДАМЕНТАЛЬНЫЕ ПРИНЦИПЫ СРАВНИТЕЛЬНОЙ ОЦЕНКИ

Damodaran, A. 2001. It’s all relative: First principles of relative valuation. Working paper. www.stern.nyu.edu/~adamodar/New_Home_Page/papers.html.

Глава 18. МУЛЬТИПЛИКАТОРЫ ПРИБЫЛИ

Cragg, J. G., and B. G. Malkiel. 1968. The consensus and accuracy of predictions of the growth of corporate earnings. Journal of Finance 23:67–84.

Goodman, D. A., and J. W. Peavy, III. 1983. Industry relative price-earnings ratios as indicators of investment returns. Financial Analysts Journal