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Pascal edited section_textit_DDM_textit_RIM__.tex
almost 8 years ago
Commit id: 676269b8a442c1527f6912d4ff5fe9a28169fec1
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\section{\textit{DDM}, \textit{RIM} and the \textit{PB-ROE} approach}
\subsection{Valuing assets}
We start off firslty by reminding the general model for valuing assets. A well know accounting identity expresses the relation between the value of an asset, the income stream it generates and to which the holder of the asset is
entitled(C_{1},C_{2}, entitled($C_{1}$,$C_{2}$, . . .
C_{n}) $C_{n}$) and an endogeneous return
R $R$
$V_{t}=\displaystyle\sum_{i=1}^{K}\frac{C_{t+i}}{(1+R)^i}+V_{t+K}$