dc.contributor.author
Kruschwitz, Lutz
dc.contributor.author
Löffler, Andreas
dc.date.accessioned
2018-06-08T03:10:59Z
dc.date.available
2015-08-31T12:13:43.433Z
dc.identifier.uri
https://refubium.fu-berlin.de/handle/fub188/14651
dc.identifier.uri
http://dx.doi.org/10.17169/refubium-18843
dc.description.abstract
We show that a transversality condition is necessary when it comes to valuing
a company with an infinite lifespan. Without transversality the firm value
cannot be uniquely determined. Also, an assumption on a lower bound of cash
flows is necessary to achieve the desired result. We discuss four different
stochastic cash flow processes and analyze to what extent the processes
associated with these enterprise values satisfy the transversality condition.
en
dc.rights.uri
http://creativecommons.org/licenses/by/4.0/
dc.subject
Business Valuation
dc.subject
Stochastic Cashflows
dc.subject
Infinite Lifespan
dc.subject
Transversality
dc.subject.ddc
300 Sozialwissenschaften::330 Wirtschaft
dc.title
Transversality and the Stochastic Nature of Cash Flows
dc.type
Wissenschaftlicher Artikel
dcterms.bibliographicCitation
Modern Economy. - 6 (2015), 6, S. 755-769
dc.identifier.sepid
45898
dcterms.bibliographicCitation.doi
10.4236/me.2015.66072
dcterms.bibliographicCitation.url
http://www.scirp.org/Journal/PaperInformation.aspx?PaperID=57466#.VY0xb1LLIqM
refubium.affiliation
Wirtschaftswissenschaft
de
refubium.affiliation.other
Betriebswirtschaftslehre / Department Finance, Accounting and Taxation (FACTS)
refubium.funding
Deutsche Forschungsgemeinschaft (DFG)
refubium.mycore.fudocsId
FUDOCS_document_000000022473
refubium.note.author
Gefördert durch die DFG und den Open-Access-Publikationsfonds der Freien
Universität Berlin
refubium.resourceType.isindependentpub
no
refubium.mycore.derivateId
FUDOCS_derivate_000000005115
dcterms.accessRights.openaire
open access
