Valuation of Integrated Oil Gas Companies Msc Thesis

MSc Thesis: Valuation of Integrated Oil Gas Companies Irakli Menabde Valuation of Integrated Oil Gas Companies A comparative analysis of methodologies and empirical practices MSc Thesis MSc in International Business and Economics: Cand. Merc Finance and Strategic Management (FSM) Copenhagen Business School Date 09/10/2008 Author: Irakli Menabde MSc Thesis: Valuation of Integrated Oil Gas Companies Irakli Menabde Abstract The paper examines a number of empirically utilised and academically established valuation methodologies in order to value Integrated Oil Gas Company’s common stock. By applying and comparing DCF, SOP and Real Options based valuation methodologies with the aims of establishing both, an†¦show more content†¦EMPIRICAL ANALYSIS.......................................................................................................40 4.1 DCF OUTPUT AND DISCUSSION.................................................................................................40 4.1.1 BP Plc DCF Model.......................................................................................................42 4.1.3 DCF Models Robustness Tests.....................................................................................44 4.2 SUM OF THE PARTS VALUATION ................................................................................................49 4.3 REAL OPTIONS VALUATION............... ........................................................................................50 4.4 ECONOMETRIC TESTS................................................................................................................55 4. CONCLUSIONSShow MoreRelatedRisk Mitigation Using Joint Venture Agreement in the Upstream Petroleum Industry15328 Words   |  62 PagesINDUSTRY (A CASE STUDY AND MODELLING APPROACH) BY SODE ADESOJI O. (51124473) AUGUST 2012 A Dissertation Presented In Partial Fulfillment Of The Requirements For The Degree Of MSc. International Business Energy And Petroleum At The University Of Aberdeen DECLARATION I declare that this thesis has been composed by myself, that it has not been accepted in any previous application for a degree, that the work of which it is a record has been done by myself, and that all quotationsRead MoreIntangible Asset Accounting and Accounting Policy Selection in the Football Industry85391 Words   |  342 PagesPOLICY SELECTION IN THE FOOTBALL INDUSTRY by NICHOLAS ROWBOTTOM A thesis submitted to the Faculty of Commerce and Social Science of The University of Birmingham for the degree of DOCTOR OF PHILOSOPHY Department of Accounting and Finance School of Business Faculty of Commerce and Social Science The University of Birmingham July 1998 University of Birmingham Research Archive e-theses repository This unpublished thesis/dissertation is copyright of the author and/or third parties. The intellectualRead MoreContemporary Issues in Management Accounting211377 Words   |  846 Pagesfacing modern organizations and present-day management thought as well as in the light of some of their historical dimensions. Other chapters deal with newly emerging concerns in management accounting, including network relations, digitization, integrated cost management systems, knowledge management pursuits, and environmental management accounting. Each chapter encompasses discussions of basic premises complemented by insights from modern-day practice, research, and thought. This approach makesRead MoreStrategic Marketing Management337596 Words   |  1351 Pagesof being market-driven has, in turn, been highlighted by a series of studies, including one amongst 600 managers in France, the USA, Germany, Japan and the UK, which found that ‘the single strongest influence on company performance is innovativeness. Further, a market-oriented company culture was found to have a positive impact in all five countries, while customer orientation, by itself, has virtually no influence on bottom line performance’ (Webster, 1999, p. 241). It is the recognition of this