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Fundamentals of Functional Business Valuation

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Author Info

  • Matschke Manfred Jürgen

    (Ernst-Moritz-Arndt-Universität)

  • Brösel Gerrit

    (Technische Universität Ilmenau)

  • Matschke Xenia

    (Universität Trier)

Abstract

After a brief overview of different company valuation theories, this paper presents the main functions (decision, arbitration, and argument or negotiation function) of company valuation according to the functional (i.e., purpose-oriented) theory. The main body of the paper focuses on the decision function and shows how the decision value can be derived as a subjective limit value that different economic agents assign to the company. Finally, the differences between the functional and the market value oriented theory of company valuation are discussed.

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File URL: http://www.degruyter.com/view/j/jbvela.2010.5.1/jbvela.2010.5.1.1097/jbvela.2010.5.1.1097.xml?format=INT
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Bibliographic Info

Article provided by De Gruyter in its journal Journal of Business Valuation and Economic Loss Analysis.

Volume (Year): 5 (2010)
Issue (Month): 1 (November)
Pages: 1-41

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Handle: RePEc:bpj:jbvela:v:5:y:2010:i:1:n:7

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  1. J. Hirshleifer, 1958. "On the Theory of Optimal Investment Decision," Journal of Political Economy, University of Chicago Press, vol. 66, pages 329.
  2. Jevons, William Stanley, 1866. "Brief Account of a General Mathematical Theory of Political Economy," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 29, pages 282-287.
  3. Jevons, William Stanley, 1871. "The Theory of Political Economy," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number jevons1871.
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Cited by:
  1. Matschke, Xenia, 2008. "Funktionale Unternehmensbewertung im Lichte der Vertragstheorie," Wirtschaftswissenschaftliche Diskussionspapiere 04/2008, Ernst Moritz Arndt University of Greifswald, Faculty of Law and Economics.

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