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Home > Business and Economics > Finance and accounting > Accounting > Management accounting, bookkeeping and auditing > Der Residualgewinnansatz in Der Fundamentalen Aktienbewertung: Empirische Untersuchungen Fuer Den Deutschen Aktienmarkt(5 Schriften Zu Theorie Und Praxis der Rechnungslegung Und Wirt)
Der Residualgewinnansatz in Der Fundamentalen Aktienbewertung: Empirische Untersuchungen Fuer Den Deutschen Aktienmarkt(5 Schriften Zu Theorie Und Praxis der Rechnungslegung Und Wirt)

Der Residualgewinnansatz in Der Fundamentalen Aktienbewertung: Empirische Untersuchungen Fuer Den Deutschen Aktienmarkt(5 Schriften Zu Theorie Und Praxis der Rechnungslegung Und Wirt)


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About the Book

In der Literatur zur empirischen Kapitalmarktforschung gibt es umfangreiche Evidenz für die Existenz von Bewertungsanomalien und der Möglichkeit einer Prognose von Aktienkursen. In dieser Arbeit wird der Frage nachgegangen, ob der auf Basis des Residualgewinnansatzes berechnete innere Wert eines Unternehmens eine geeignete Kenngröße zur Identifikation einer relativen Unter- beziehungsweise Überbewertung von Aktien ist. Da die relevanten Eingangsgrößen öffentlich verfügbare Informationen wie der Buchwert des Eigenkapitals sowie Analystenprognosen über künftige Jahresüberschüsse sind, ist eine auf dem inneren Wert aufbauende Anlagestrategie leicht umsetzbar. Im empirischen Teil der Untersuchung wird auf Basis von vier verschiedenen Residualgewinnspezifikationen untersucht, ob auf Basis des inneren Wertes unterbewertete Aktien eine bessere Wertentwicklung erzielen als fundamental überbewertete. Zudem wird untersucht, ob sich der Residualgewinnansatz auch für den Zweck einer Prognose des Gesamtmarktes eignet. Die empirische Analyse umfasst deutsche börsennotierte Unternehmen über einen Zeitraum von 1990 bis 2002.

About the Author :
Der Autor: Gösta Jamin hat nach Abitur und Banklehre ein Studium der Volkswirtschaftslehre an der Universität Würzburg absolviert. Seit 2001 ist er im Münchener Büro einer internationalen Unternehmensberatungsfirma tätig. Schwerpunktmäßig berät er Klienten aus der Finanzdienstleistungsbranche.


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Product Details
  • ISBN-13: 9783631544259
  • Publisher: Peter Lang AG
  • Publisher Imprint: Peter Lang AG
  • Language: German
  • Returnable: N
  • Sub Title: Empirische Untersuchungen Fuer Den Deutschen Aktienmarkt
  • ISBN-10: 3631544251
  • Publisher Date: 16 Feb 2006
  • Binding: Paperback
  • No of Pages: 358
  • Series Title: 5 Schriften Zu Theorie Und Praxis der Rechnungslegung Und Wirt


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Der Residualgewinnansatz in Der Fundamentalen Aktienbewertung: Empirische Untersuchungen Fuer Den Deutschen Aktienmarkt(5 Schriften Zu Theorie Und Praxis der Rechnungslegung Und Wirt)
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Der Residualgewinnansatz in Der Fundamentalen Aktienbewertung: Empirische Untersuchungen Fuer Den Deutschen Aktienmarkt(5 Schriften Zu Theorie Und Praxis der Rechnungslegung Und Wirt)
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Der Residualgewinnansatz in Der Fundamentalen Aktienbewertung: Empirische Untersuchungen Fuer Den Deutschen Aktienmarkt(5 Schriften Zu Theorie Und Praxis der Rechnungslegung Und Wirt)

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