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FØRELESING 21
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Emne i verdivurdering - skatt
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21
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21.1
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Litt om
kapitalstruktur og selskapsverdi
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21.2
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SKATT
OG VERDIVURDERING:
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21.3
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Skatteskjold
– «Adjusted Present Value» eller
WACC
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21.4
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Eigarskattar
– utbyte, gevinst og
formue
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21.5
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Skatt
i ulike situasjonar: Verdi utsett skatt,
selskapssal eller substans
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FØRELESING
22
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ENDÅ
FLEIRE EMNE
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22
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22.1
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Formlar:
Midtårsjustering
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22.2
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Verdivurdering
i Python
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FØRELESING
23
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KOMPARATIV
VERDIVURDERING
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23
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One of the more popular equity valuation
approaches is the comparables approach. This strategy evaluates similar
companies and compares relevant valuation metrics. The method can also be used
to value assets. The comparables approach is often one of the easier
valuations to perform as long as the company being valued as public company
comparables.
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23.1
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Generelt om
komparativ verdivurdering:
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23.2
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Multiplikatormodellar
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23.3
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Substansverdimetoden
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FØRELESING
24
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OPSJONSBASERT
VERDIVURDERING
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24
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24.1
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Opsjonsbasert
kontra fundamental
verdivurdering
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24.2
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Kva
er ein realopsjon?
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24.3
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Litt
om verdsetting av realopsjonar
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Excel-program
for å prise utvalde realopsjonar:
OPTIONS
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24.4
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Ulike
typar realopsjonar:
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Verdien av å kunne ekspandere
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Verdien av å kunne vente
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Verdien av å kunne nedskalere
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For
example, in the case of a start-up, the “what if” element of the valuation
would mean that if the new idea works out well, then the company is likely
to have substantial value; if not, then it will not.
In
the case of the natural resources company if its exploration is successful,
then substantial profits will be generated and the company will be quite
valuable; if not, again, it will be not so valuable; probably not even
viable.
This
sounds like an option, doesn’t it? And if it sounds like that, then it may
make sense to use option pricing theory to value such companies!
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