English, Article, Journal or magazine article edition: Simple errors or myths in dealing with perpetuities Ignacio Velez-Pareja

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Bookmark: http://trove.nla.gov.au/version/147816
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Simple errors or myths in dealing with perpetuities
Author
  • Ignacio Velez-Pareja
Physical Description
  • preprint
Notes
  • Terminal value is critical for valuation purposes because very often it is a large part of what constitutes the value of a firm. In this short note I answer and clarify some typical questions and myths related to the calculation of terminal value. They are related to the use of non growing perpetuities, inflation and real growth; the use of Net Operating Profits Less Adjusted Taxes, NOPLAT as a proxy to the Free Cash Flow in perpetuity; the use of the typical textbook formula for estimating terminal value; and the treatment of working capital in perpetuities.
  • RePEc:col:000162:005679
Language
  • English
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