Equity Asset Valuation (CFA Institute Investment Series) - Hardcover

Stowe, John D.; Robinson, Thomas R.; Pinto, Jerald E.; McLeavey, Dennis W.

Hardcover

ISBN 10: 0470052821 ISBN 13: 9780470052822

Publisher: John Wiley & Sons, 2007

Synopsis

"Here is an essential tool for the investor: clear, practical, insightful, and concise. This book should have a long, useful life in a professional′s library."
Jeffrey P. Davis, CFA, Chief Investment Officer, Lee Munder Capital Group

"This book provides a clear, comprehensive overview of equity valuation concepts and methods. It is well suited for finance practitioners who want to strengthen their understanding of equity asset valuation and as a supplemental reading in advanced undergraduate and graduate courses addressing security analysis and business valuation."
Professor Robert Parrino, CFA, PhD, Department of Finance, Red McCombs School of Business, The University of Texas at Austin

"CFA Institute has done it again. This will be a ′must′ reference book for anyone serious about the nuances of equity investment valuation."
Robert D. Arnott, Chairman, Research Affiliates

"Equity Asset Valuation concisely and clearly explains the most widely used approaches to equity evaluation. In addition to thoroughly explaining the implementation of each valuation method, there is sophisticated discussion of the commonsense financial economics and accounting issues underlying the methods."
David Blackwell, Head and RepublicBank/James W. Aston Professor of Finance, Mays Business School, Texas A&M University

About this title

About the Author:

JOHN D. STOWE , PHD, CFA, is Head of Curriculum Development at CFA Institute. Prior to joining CFA Institute, he was a professor of finance and associate dean at the University of Missouri–Columbia, where he taught investments and corporate finance. Stowe has won several teaching awards and has published frequently in academic and professional journals in finance. He is also coauthor of a college–level textbook in corporate finance. Stowe earned his BA from Centenary College and his PhD in economics from the University of Houston. He obtained his CFA charter in 1995.

THOMAS R. ROBINSON, PHD, CFA, is Head, Educational Content, in the Education Division of CFA Institute. Previously, he was an Associate Professor of Accounting and Director of the Master of Professional Accounting program at the University of Miami. Robinson has a BA in economics from the University of Pennsylvania and a master′s and PhD in accounting from Case Western Reserve University. He is a Certified Public Accountant (Ohio), Certified Financial Planner® (CFP®) certificant, and Chartered Financial Analyst® (CFA®) charterholder. Prior to joining the University of Miami, Robinson practiced public accounting and financial planning for ten years, and also served as a consultant in the areas of financial statement analysis and valuation.

JERALD E. PINTO, PHD, CFA, is Director of Curriculum Development at  CFA Institute. Before coming to CFA Institute in 2002, he was a consultant to corporations, foundations, and partnerships in investment planning, portfolio analysis, and quantitative analysis. He has also worked in the investment and banking industries in New York City and taught finance at New York University′s Stern School of Business. He holds an MBA from Baruch College and a PhD in finance from the Stern School. Pinto obtained his CFA charter in 1992.

DENNIS W. MCLEAVEY, CFA, is Head of Professional Development Products at CFA Institute. During his twenty–five year academic career, he has taught at the University of Western Ontario, the University of Connecticut, the University of Rhode Island (where he founded a student–managed fund), and Babson College. McLeavey completed a doctorate in production management and industrial engineering at Indiana University in 1972 and obtained his CFA charter in 1990, and began grading CFA examinations in 1995.

From the Inside Flap:

As part of the CFA Institute Investment Series, Equity Asset Valuation has been designed for a wide range of individuals, from college students studying finance to practicing investment professionals. This straightforward guide outlines the essential methods used to evaluate modern equity investments including those traded outside North America.

With Equity Asset Valuation, the distinguished team of John Stowe, Thomas Robinson, Jerald Pinto, and Dennis McLeavey fully update information associated with this important discipline. Blending theory with practice, they detail the contemporary techniques used to determine the intrinsic value of an equity security, and show you how to successfully apply these techniques in both foreign and domestic markets.

Unlike alternative works in this field, Equity Asset Valuation clearly integrates finance and accounting concepts into the discussion providing the evenness of subject matter treatment, consistency of notation, and continuity of topic coverage that is so critical to the learning process. And to further enhance your understanding of the information presented within these pages, numerous questions and problems whose solutions can be found on a companion Web site are posed throughout the text.

Valuable for classroom study, self–study, and general reference, this book contains clear, example–driven coverage of many of today′s most important valuation issues, including:

• The equity valuation process
• Discounted dividend valuation
• Free cash flow valuation
• Market–based valuation including price multiples
• Residual income valuation

With each author bringing his own unique experiences and perspectives to the equity analysis process, this book distills the knowledge, skills, and abilities you need to succeed in today′s fast–paced financial environment. Filled with in–depth insights and practical advice, Equity Asset Valuation does not simply examine a collection of valuation models for you to use, but it challenges you to determine which models are most appropriate for specific companies and situations.

About this edition

• Publisher: John Wiley & Sons
• Publication date: 2007
• ISBN 10: 0470052821
• ISBN 13: 9780470052822
• Binding: Hardcover
• Number of pages: 336