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Strategic
decisions & Working Capital (WC)
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Investment
decisions |
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Modes of diversification
: |
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Inter-Organizational relationships
: |
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Others : |
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Long-Term
Financial decisions |
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Investment
analysis and decision |
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a pattern
of betas (ß)
Beta
on Stock (December 2001) |
Economic
Betas (May 2003) |
European
groups |
Industries |
Pernod-Ricard |
0.34 |
Tobacco |
0.26 |
Heinecken |
0.45 |
Motorways |
0.33 |
Casino |
0.51 |
Agroalimentary |
0.35 |
Sodexho Alliance |
0.61 |
Real Estate |
0.36 |
Danone |
0.70 |
Consumer goods |
0.47 |
Carrefour |
0.72 |
Large distribution |
0.50 |
Club Med |
0.90 |
Casinos |
0.53 |
Autogrill |
0.77 |
Automobile equipments |
0.68 |
Air France |
0.39 |
All sectors |
0.71 |
Alitalia |
0.79 |
Hotels |
0.78 |
Lufthansa |
0.78 |
Textile distribution |
0.89 |
Deutsche Telekom |
0.72 |
Temporary work |
0.97 |
France Telecom |
1.05 |
Media advertising |
0.98 |
Telecom Ital Mobl. |
1.08 |
Electric engineering |
1.01 |
Telecom Italia |
1.13 |
Life Insurance |
1.13 |
Portugal Telecom |
1.29 |
Assets management |
1.24 |
Telefonica |
1.29 |
Softwares |
1.59 |
Commerzbank |
0.78 |
Source
: Business Valuation Team, BNP |
Dresdner Bank |
1.03 |
|
Deutsche Bank |
1.24 |
BNP-Paribas |
1.29 |
Société générale |
1.29 |
Volkswagen |
0.86 |
Fiat |
0.96 |
Peugeot |
1.07 |
Renaud |
1.11 |
Porsche |
1.22 |
Source
: www.vernimmen.net |
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