The Valuation of Cash Flow Forecasts: An Empirical Analysis
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This paper compares the market value of highly leveraged transactions (HLTs) to the discounted value of their corresponding cash flow forecasts. These forecasts are provided by management to investors and shareholders in 51 HLTs completed between 1983 and 1989. Our estimates of discounted cash flows
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美国国家经济研究局创建时间：
1994-04-01
