This study uses an experimental framework to determine whether ordinary citizens' exposure to valuation information, such as one might encounter in a news article or fundraising materials, might influence an individual's contribution to a natural resource conservation fund.
There is eurozone exposure, as valuations are already discounting 'Eurogeddon', and exposure to UK infrastructure spend and global luxury goods.
Farmer traits such as wealth and risk exposure affect their valuation of these changes only mildly.
The investors with the most valuation exposure aren't VCs, but rather hedge, private equity and mutual funds.
However, the authors point out that these values are not directly comparable over time, because the exposure-response functions and valuation methods differed between the two time points.
But it will probably retain a one-third stake, which will also allow A.I.G. to retain exposure to a company whose valuation, at 1.2 times 2011's estimated embedded value, is full but not stretched.
Merrill said, "We like Clear Channel due to attractive sum-of-the-parts valuation and its exposure to the outdoor advertising sector where positive secular trends beg for multiple expansion.
We maintain a favorable long-term outlook on the following MLPs based on criteria such as distribution coverage and growth history, stable free cash flow, debt levels, commodity exposure, geographic concentrations and relative valuation based on discounted cash flows.
Their compelling valuations, along with exposure to a recovering North American market and a limited exposure to Europe, make them attractive.
Prerequisite exposure to real estate finance, property valuation, CRE capital markets, negotiation, and real property law are strongly encouraged.
