Equity Valuation

Week 1 – Introduction – Financial Accounting (Review) Week 2 – Financial Markets and Net Present Value Week 3 – Present Value Concepts Week 4 – Bond Valuation and Term Structure Theory Week 5 – Valuation of Stocks Week 6 – Risk and Return – Problem Set #1 Due Week 7* – Midterm (Tuesday*) Week 8 - Portfolio Theory Week 9 – Capital Asset Pricing Model Week 10 – Arbitrage Pricing Theory Week 11 – Operation and Efficiency of Capital Markets Week 12 – Course Review – Problem Set #2 Due

The Securities Exchange Act of 1934 was passed by congress to strengthen the government’s control of the financial markets. It was preceded by the Securities Exchange Act of 1933 which was enacted during the Great Depression in hopes that the stock market crash of 1929 would not be repeated. The basic difference between the two acts was that the 1933 Act was to govern the original sales of securities by requiring that the issuers, the companies offering the securities, offer up sufficient information about themselves and the securities so that the potential buyers could make informed decisions. The 1934 Act was

For this project analysis I will attempt to calculate the intrinsic value of the CVS Health Corporation by conducting a two-stage DCF company-level valuation analysis, I will compare my results to the current market capitalization of the company as shown on the Yahoo Finance web page. Finally, I will perform a sensitivity analysis using variables such as free cash flow, terminal growth rate and WACC.

In 1934, the United States created the Securities Exchange Act of 1934 which is a law to investigate companies that violate federal securities and files criminal charges when companies are in violation. However, one of the most important

The New York Stock Exchange has been a part of the United States financial landscape almost as long as the country has existed. Less than twenty years after the signing of the Declaration of Independence in 1776, the forefathers of the American dream started what would become the most dominate stock exchange in the world. “The history of the New York Stock Exchange begins with the signing of the Buttonwood Agreement by twenty-four New York City

Shares of the various East India companies were issued on paper, which allowed investors to sell to other investors. However, in order to be able to buy stocks, an

Endeavour Silver’s profit business on the TSX under the image EDR furthermore, on the NYSE under the image EXK. Sourcing supplies and supply from territorial providers wherever conceivable makes great work sensibility and furthermore sponsor to money related benefits for our neighbourhood groups. We have nearby obtaining strategy at all of three of our operations for aggressive proposition advancement that all speculation and delicate choice must be based upon nonetheless. All components being proportionate, slant is to be distributed to neighbourhood providers what’s more, temporary workers.

In economic society, most people like to invest their fortunes in the capital market and security market. As more and more investors join in the investing market which is very complex and fascinating, and it can be successful. Unlike the deposits are hypothecated by the federal government, stocks, bonds and other securities can lose value in capital market because their no surety. So the security and exchange commission play an important role in the capital market, and the important thing is the security and exchange commission demands the public companies should be disclose the meaningful financial and other information to the public. This provides an equitable environment and common knowledge

This is to certify that Miss , a student of Master of Business Administration (Finance) has completed her Project on the topic entitled

Financial theory accepts the belief that a share’s return should be proportional to the risk received by its holder. There is a need of a risk-return equilibrium model. Since the nativity of the efficient market hypothesis (EMH), an equilibrium model was only the Capital Asset Pricing Model (CAPM). The CAPM constitutes of two types of returns, the risk free rate of returns of the Treasury bills and beta times the return on the market portfolio. The following equation is the basis of this model:

The New York Stock exchange started when the Buttonwood Agreement was signed by twenty-four New York City stockbrokers and merchants on May 17, 1792, outside at 68 Wall Street under a Buttonwood tree. It was orginally called The New York Stock and Exchange Board (New York Stock Exchange).

The first of the major laws is the Securities Act of 1933 of which there are two objectives; it “requires that investors receive financial and other significant information concerning securities being offered for public sale and prohibits deceit, misrepresentations, and other fraud in the sale of securities” (U.S., 2013). The second is the Securities and Exchange Act of 1934 this act gives the SEC broad authority over the securities aspects including the regulation, overseeing and registering of clearing agents, transfer agents and brokerage firms of which this may include SROs or self-regulatory organizations. The third is the Public Utility Holding Company Act of 1935 which regulates retail distribution of natural or manufactured gas and electric utility. The fourth is the Trust Indenture Act of 1939 which applies to when notes, bonds or debentures are offered for public sale this act applies to those debt securities. The fifth act is the Investment Company Act of 1940 “regulates the organization of companies, including mutual funds, that engage primarily in investing, reinvesting, and trading in securities, and whose own securities are offered to the investing public” (U.S., 2013). The final law is the Investment Advisors Act of 1940 “requires that firms or sole practitioners compensated for advising others about securities investments must register

     The New York Stock Exchange traces its origin back 200 years. Centuries of growth and innovation the NYSE remains the world’s foremost securities marketplace. Over the years its commitment to investors has been unwavering and its persistent application of the latest technology has allowed it to maintain a level of market quality and service that is unparalleled. The NYSE has grown to become the global marketplace of today.

I. Introduction of company valuation methods and process........................................................3 1. Abstract................................................................................................................................3 2. Valuation methods...............................................................................................................3 2.1 Balance sheets – Based methods

Appellants: Union of India (UOI) through Ministry of Law Justice and Company Affairs, Department of Company Affairs, having its Mumbai Office at Mumbai