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Concept

Market-based valuation

Publications associées (6)

Takeover Protections and Asset Prices

Erwan Morellec

We study the effects of takeover feasibility on asset prices and returns in a unified framework. We show theoretically that takeover protections increase equity risk, stock returns, and bond yields by removing a valuable put option to sell the firm, notabl ...

Informs2024

Counterculture as a Financial Asset: The Commodification of LX Factory in Lisbon

Luca Giovanni Pattaroni, Mischa-Sébastien Piraud, Letícia Cabeçadas Do Carmo

In recent decades, European cultural policies have become inseparable from urban policies, with culture becoming both the new promotional tool for cities aiming to be ‘creative’ (Vanolo, 2008; Vivant, 2009) and the source of unprecedented real estate profi ...

2023

A Practical Influence Approximation for Privacy-Preserving Data Filtering in Federated Learning

Boi Faltings, Panayiotis Danassis, Ljubomir Rokvic

Federated Learning by nature is susceptible to low-quality, corrupted, or even malicious data that can severely degrade the quality of the learned model. Traditional techniques for data valuation cannot be applied as the data is never revealed. We present ...

2023

Supply Chain Management in Process Industries: Empirical Investigations for Commodity Markets

Philipp Urs Moser

Process industries (PI) have thrived in recent decades, but structural changes in the markets are currently putting both growth and profitability at risk. In a period of tumbling prices, supply chain management (SCM) is increasingly viewed as an essential ...

EPFL2016

Valuation of a pumped-storage hydro-plant in a multiple markets framework : a Swiss Case Study

Nikolaos Iliadis

There has been an evolving electricity market structure starting from the spot market and its derivatives, to several other markets such as the Intraday Market, the Balancing Market and the Reserve Capacity Market. The participation in these markets has ch ...

EPFL2015

The dynamics of mergers and acquisitions

Erwan Morellec

This paper presents a dynamic model of takeovers based on the stock market valuations of merging firms. The model incorporates competition and imperfect information and determines the terms and timing of takeovers by solving option exercise games between b ...

2005