" es of Asset-Based Appro: sed Valuation/Approngh Advantages of Income Based Valuation 2.2. Disadvantages of Income Based Valuation 3. Methods of Income Based Val 4+. _ Discounted Cash Flow (DCF) Method rowth Dividend Valuation Model (Gordon Model ‘age Growth Model meee : PCFE (Free Cash Flow to Equity) Model FCFF (Free Cash Flow to the Firn 3, Dividend Yield Method ind 3 alization Method 3.5.1. Capitalized Cash Flow Technique 3.5.2. Pri nings (P/E) Ratio 4 Exercise Module III Chapter 5: Market Based Valuation Market Based Valuation/Comparable Approaches Introduction Steps in Market Based Valuation ‘Types of Market Based Valuation Comparable Company Method Steps in Applying Comparable Company Approach Advantages of Comparable Company Approach Disadvantages of Comparable Company Approach Comparable Transaction Analysis/Method Steps in Comparable Transaction Analysis/Method Advantages of Comparable Transaction Analysis/ Method Disadvantages of Comparable Transaction Analysis/ Method Advantages of Market Based Valuation Disadvantage of Market Based Valuation Fair Value Method Valuation Using Multiples Exercise 6.1. Synergies 6.1.1. Meaning of Synergy 6.1.2. Types of Synergies ; 6.1.3. Operating/Business Synergies 6.1.4. Financial Synergies 6.1.5. Managerial Synergies 165 165 166 166 167 169 170 170 170 im m 12 172 in 173 17s 175 Chapter 6: Synergy and Exchange Ratio 16 116 116 i” m 178 178 179 9Foss Coarecng Nata a Eriernl Factons Intoraal Factors Kes fi Pu, of Mere a Aa q scant Examples of Merger aaa Difterences bop een Masa Acquisitans ti Joint Venture Meaniog of Soint Veutaas Characlecitice of Salat Voumg Purpose of Joint Veature Types of Joint Venture Factors to be Considered for Joint Venture Re ns for Strategic Failures in Joint V4 7. Benefits/Advantages of Joint Venture 8, Disadvantages of Joint Venture 5. Cross Border Expansion/ Mergers and 1. Concept of Cross Border Mergers and A 2. Reasons for Cross Border Expansion 3. Benefits of Cross Border M&A 5.4. Process of Cross Border M&A. 5. Examples of Cross Border Mergers and Acquisitions 5 Factors affecting Cross Border M&A 5.7. Expansion Strategies for Cross Border M&A 2.5.8. Difficulties in Cross Border Mergers and Acquisitions 2.5.9. Difference between Cross Border Mergers and Acquisiti, and Domestic Mergers and Acquisitions 2.6, Exercise Chapter 3: Contraction and Corpora) Controls Contraction/Divesture Concept of Divesture Benefits of Divesture Reasons for Divesture Types of Divestitures Sell-off Motives of Sell-off Sell-offs Process Spin-off/Demerger Reasons for Demerger ‘Types of Demerger