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The study by Heisig, Kick and Schwetzler is based on a sample of 161 buy & build acquisitions with valuation details on related add-on acquisitions. The research breaks down EBITDA growth as a value driver into three components: Organic, Inorganic and “Sourcing”.

[Read more…] about Buying Performance? The Impact of Multiple Arbitrage in B&B Strategies

The article by M.K. Shad et. al. published in the Asian Academy of Management Journal (AAMJ) investigates the effect of enterprise risk management (ERM) implementation on the cost of capital (cost of debt, cost of equity, and weighted average cost of capital for the oil and gas industry. The research is conducted using panel data analysis from 2008-2017 for 41 oil and gas companies publicly listed on the Bursa Malaysia.

[Read more…] about The Relationship between Enterprise Risk Management and Cost of Capital

Follow the link to an interesting podcast within the AICPA Podacast serie: Bradford Cornell on Terminal Value. Content:

• A brief history of the terminal value
• The challenges of using steady growth models
• How to use long-term growth models
• Litigation concerns
• Evaluating impact of long-term growth models
• Price vs. value

Follow this link.

Krishna G. Palepu, Paul M. Healy, Erik Peek published the 6th edition of Business Analysis and Valuation: IFRS in 2022. New to this edition:

• Considering recent changes in accounting regulation, the text has been updated in line with the latest IFRS Standards framework.
• New and revised cases feature international, well-known companies such as Wirecard, Boeing, Siemens, Snap Inc. and Bayer-Monsanto, demonstrating business analysis and valuation in practice.
• Increased coverage on sustainability, stakeholder value or shared value creation in strategy, and a critical discussion of ESG reporting engage students with this topical issue.
• A fully updated companion website is available with PowerPoint slides, an Instructor’s Manual, additional questions, solutions, example spreadsheets and weblinks.

Flow this link to the publication.