Most Popular Paper: Functional Business Valuation

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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 difference between the functional and the market value oriented theory of company valuation are discussed.

Keywords: decision function, decision value, functional business valuation, subjective limit value.

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