| Author: | Ballwieser, W. |
| Title: | Unternehmensbewertung bei unsicherer Geldentwertung. |
| Journal: | Schmalenbachs Zeitschrift für Betriebswirtschaftliche Forschung
1988 : SEP, VOL. 40:9, p. 798-812 |
| Index terms: | DISCOUNTED CASH FLOW ASSET VALUATION COMPANIES DISCOUNT RATE |
| Language: | ger |
| Abstract: | Discussed is the discounted cash flow method for the valuation of the firm. Sufficient conditions are analyzed for using a risk and inflation-adjusted discount rate. The conditions are shown to be very restrictive. Usually the simultaneous application of risk on-cost and cash inflation off-cost cannot be established theoretically. If both modifications are applied at the capital interest and considered in legal practice one makes a mistake whose consequences are hardly known. |
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