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For upper-division undergraduate and MBA students as well as business professionals.
Seeing the economic realities of the modern corporation through an integrated approach.
Titman/Martin presents an integrated approach to both project and enterprise valuation, showing readers the economic realities that today’s modern corporations face. This text also goes beyond standard DCF analysis by including additional valuation methods that are commonly used in practice, such as comparables, simulations, and real options.
The second edition includes an increased emphasis on enterprise valuation, a new chapter on financial forecasting, and enhanced examples and illustrations.
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5.0 out of 5 starsImpressively summed up and readable
Reviewed in the United States on 8 March 2022
Format: HardcoverVerified Purchase
Requirement for a few classes of mine, very well written and explained. Not a very difficult read and includes cases studies that apply to the info you are learning. Great textbook as a whole. Very glad I can say I bought this one vs renting.
Most of you will be buying this book, like me, because it's required for a class. In short, the book is a disaster. Concepts are vaguely explained, and what examples are provided do not flow step by step. The authors will present an example (when one is even provided) of a concept, and fail to display and explain each step of the process they use to solve it. They'll jump from, for example, step 1 to step 4, without explaining steps 2 or 3. Then, when the homework comes along, you'll be flipping through the book over and over for hours (& banging your hear on your desk) trying in vain to find how to perform steps 2 & 3.
Short version: this book reads more like a reference manual for someone who already knows how to do these valuation procedures than a textbook. It needs a great deal more detail and a great deal more effort put into constructing step by step examples and concise explanation. In its current form, it's pretty useless for someone, like me, who is trying to learn how to do them.