Advanced Search
MyIDEAS: Login

Planungsrechnung und Planungsgüte in der Unternehmensbewertung auf Grund aktienrechtlicher Strukturmaßnahmen: Eine empirische Analyse

Contents:

Author Info

  • Schrenker, Claudia
Registered author(s):

    Abstract

    Zur Ermittlung der Kompensationsleistung bei aktienrechtlichen Strukturmaßnahmen (z.B. Squeeze-out) ist der Unternehmens- bzw. Anteilswert zu ermitteln. Hierfür wird nahezu ausschließlich das Ertragswertverfahren angewandt. Als problematisch gilt hierbei unter anderem die Prognoseunsicherheit bei der Bestimmung der künftigen Ertragslage der zu bewertenden Unternehmen. Das Arbeitspapier befasst sich mit der Analyse von Planungsrechnungen in Bewertungsgutachten. Zudem ist die Analyse der Planungsgüte dargestellt, die durch einen Vergleich der Plan-Ergebnisse mit den Ist-Ergebnissen und mit Prognosen unabhängiger Finanzanalysten erfolgt. -- For determining the compensation within structural measures according to German stock corporation law (e.g. squeeze-out minority stockholders) it is necessary to calculate the enterprise value, respectively the share value. For this purpose the income approach is applied almost exclusively. Using this method, a crucial problem is the uncertainty in planning the future development of earnings. The paper analyzes expert reports on business valuation, in particular the planning of earnings. Furthermore the analysis includes the planning quality by comparing planned earnings with actual results and with forecasts of financial analysts.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://econstor.eu/bitstream/10419/48659/1/664483860.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by Friedrich-Alexander-Universität Erlangen-Nürnberg, Lehrstuhl für Rechnungswesen und Prüfungswesen in its series Working Papers in Accounting Valuation Auditing with number 2011-4.

    as in new window
    Length:
    Date of creation: 2011
    Date of revision:
    Handle: RePEc:zbw:fauacc:20114

    Contact details of provider:
    Web page: http://www.pw.wiso.uni-erlangen.de/
    More information through EDIRC

    Related research

    Keywords: Unternehmensbewertung; Ertragswertverfahren; Vergangenheitsanalyse; Planungsrechnung; Phasenmethode; Zukunftsprognose; Prognoseunsicherheit; Planungsgüte; Squeeze-out; Zwangsausschluss; Beherrschungs- und Gewinnabführungsvertrag; Strukturmaßnahmen; Business Valuation; Income Approach; Analysis of Past Results; Planning; Phase Method; Forecast; Forecast Uncertainty; Planning Quality; Squeeze-out; Forced Take Over; Control and Profit and Loss Transfer Agreements; Structural Measures;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:zbw:fauacc:20114

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.