Valuation of Integrated Oil & Gas Companies Msc Thesis

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MSc Thesis: Valuation of Integrated Oil & Gas Companies Irakli Menabde Valuation of Integrated Oil & Gas Companies A comparative analysis of methodologies and empirical practices MSc Thesis MSc in International Business and Economics: Cand. Merc Finance and Strategic Management (FSM) Copenhagen Business School Date 09/10/2008 Author: Irakli Menabde MSc Thesis: Valuation of Integrated Oil & Gas Companies Irakli Menabde Abstract The paper examines a number of empirically utilised and academically established valuation methodologies in order to value Integrated Oil & Gas Company’s common stock. By applying and comparing DCF, SOP and Real Options based valuation methodologies with the aims of establishing both, an…show more content…
EMPIRICAL ANALYSIS.......................................................................................................40 4.1 DCF OUTPUT AND DISCUSSION.................................................................................................40 4.1.1 BP Plc DCF Model.......................................................................................................42 4.1.3 DCF Models Robustness Tests.....................................................................................44 4.2 SUM OF THE PARTS VALUATION ................................................................................................49 4.3 REAL OPTIONS VALUATION.......................................................................................................50 4.4 ECONOMETRIC TESTS................................................................................................................55 4. CONCLUSIONS

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