1165:
1155:
30:. For example, a coffee shop may call itself a "pure play" restaurant, and a factory that only produces goods (not designing or selling to consumers) may refer to itself as a pure play manufactory.
569:
23:
company focuses solely on a particular product or activity. Investing in a pure play company can be considered as investing in a particular commodity or product of a company.
517:
Kim, Eonsoo; Nam, Dae-il; Stimpert, J.L. (2004). "The
Applicability of Porter's Generic Strategies in the Digital Age: Assumptions, Conjectures, and Suggestions".
227:
stage, and customers are unable to touch, examine and test real products before buying them. The online shopping experience foregoes human contact with consumers.
220:
can serve a wider audience without physical boundaries and distance, and may target specific customer groups without the high cost of maintaining physical stores.
76:
Here, when estimating a private company A's equity beta coefficient, the equity beta coefficient of a public company B is needed; the latter can be calculated by
562:
223:
Compared to companies that integrate both offline and online, pure online internet retails do not have company brand recognition and reputation at the
555:
297:
258:
1189:
483:
394:
1036:
308:
343:
Larry A. Cox & Gary L. Griepentrog (September 1988). "The Pure-Play Cost of Equity for
Insurance Divisions".
161:
445:
R, Fuller; H, Kerr (1981). "Estimating the
Divisional Cost of Capital: An Analysis of the Pure-Play Technique".
949:
328:
181:
1095:
889:
613:
1006:
969:
236:
1140:
1125:
1115:
954:
769:
410:
Cox, Larry A.; Griepentrog, Gary L. (1988). "The Pure-Play Cost of Equity for
Insurance Divisions".
1158:
1135:
1073:
899:
824:
784:
764:
869:
859:
829:
799:
739:
499:
Mutschler, Ann
Steffora (2008). "Pure-play foundries comprise 84% of market, IC Insights says".
1110:
1011:
874:
712:
682:
309:"Ascertaining the divisional Beta for project evaluation — the Pure Play Method — a discussion"
289:
283:
1026:
473:
1048:
1043:
547:
134:
70:
27:
8:
998:
157:
84:. The following calculation is then applied to return the beta coefficient of company A.
1168:
1080:
1063:
1021:
944:
936:
722:
707:
582:
534:
458:
427:
360:
88:
1100:
1085:
1016:
959:
904:
879:
849:
839:
749:
732:
653:
648:
608:
603:
590:
578:
479:
390:
293:
278:
264:
254:
197:
77:
62:
1058:
1053:
964:
919:
819:
717:
638:
623:
598:
538:
526:
454:
419:
352:
58:
38:
1120:
1031:
984:
974:
909:
834:
804:
754:
702:
674:
618:
153:
503:. Australia: Reed Business Information Pty Ltd, a division of Reed Elsevier Inc.
1068:
979:
66:
54:
1183:
687:
530:
268:
26:
Pure play firms either specialize in a specific niche, or have little to no
926:
774:
759:
633:
884:
854:
697:
628:
81:
1130:
1090:
894:
844:
814:
692:
326:
217:
34:
475:
Chips and change : how crisis reshapes the semiconductor industry
431:
364:
275:
864:
727:
329:"Computing the divisional cost of capital using the pure play method"
914:
809:
794:
423:
356:
327:
Collier, HW; Grai, T; Haslitt, S & McGowan, CB (October 2006).
249:
Cleveland S. Patterson (1995). "Estimating for non-traded assets".
224:
169:
165:
744:
201:
50:
41:
retail spaces may be referred to as pure play online retailers.
342:
213:
177:
173:
643:
185:
53:, the "pure play method" is an approach used to estimate the
577:
204:, provide both foundry design services and IC fabrication.
149:
193:
189:
69:
of other public and single focused companies. See also
276:
John
Frederick Weston & Eugene F. Brigham (1974).
248:
156:, have no in-house design capabilities, and fabricate
80:
the return on B's stock on the return on the relevant
389:. Oxford: Oxford University Press Print Publication.
277:
1181:
306:
516:
409:
563:
478:(1st ed.). Cambridge, Mass.: MIT Press.
104:Equity Beta A = Unlevered Beta of B × (1 + DE
471:
1164:
1154:
570:
556:
251:The Cost of Capital: Theory and Estimation
498:
207:
33:Companies that transact exclusively via
1182:
253:. Quorum/Greenwood. pp. 221–224.
143:
91:Beta of B = Equity Beta of B / (1 + DE
1105:
551:
512:
510:
465:
472:Brown, Clair; Linden, Greg (2011).
384:
336:Applied Financial Economics Journal
44:
13:
459:10.1111/j.1540-6261.1981.tb01071.x
444:
307:N.R. Parasuraman (November 2002).
242:
14:
1201:
507:
412:The Journal of Risk and Insurance
387:Dictionary of Finance and Banking
345:The Journal of Risk and Insurance
1163:
1153:
285:Essentials of managerial finance
137:of company A and B respectively.
162:fabless semiconductor companies
65:, which involves examining the
950:Debtor-in-possession financing
492:
438:
403:
378:
182:Integrated device manufacturer
1:
372:
148:Pure play foundries, such as
890:Staggered board of directors
7:
1007:Accretion/dilution analysis
230:
10:
1206:
970:Leveraged recapitalization
237:Diversification (strategy)
1149:
1141:Valuation using multiples
1126:Sum-of-the-parts analysis
1096:Modigliani–Miller theorem
997:
955:Dividend recapitalization
935:
783:
770:Secondary market offering
673:
662:
589:
288:. Dryden Press. pp.
184:(IDM) foundries, such as
1190:Types of business entity
1159:List of investment banks
1074:Free cash flow to equity
900:Super-majority amendment
825:Management due diligence
765:Seasoned equity offering
531:10.1016/j.jm.2003.12.001
316:The Chartered Accountant
212:Compared to traditional
870:Shareholder rights plan
860:Post-merger integration
830:Managerial entrenchment
800:Contingent value rights
740:Initial public offering
1012:Adjusted present value
875:Special-purpose entity
713:Direct public offering
683:At-the-market offering
385:Law, Jonathan (2014).
279:"The Pure Play Method"
1027:Conglomerate discount
519:Journal of Management
338:. Taylor and Francis.
208:Pure play e-retailers
135:debt to equity ratios
1049:Economic value added
1044:Discounted cash flow
28:vertical integration
634:Senior secured debt
158:integrated circuits
144:Pure play foundries
1169:Outline of finance
1081:Market value added
1064:Financial modeling
1022:Business valuation
945:Debt restructuring
723:Follow-on offering
708:Corporate spin-off
666:(terms/conditions)
583:investment banking
447:Journal of Finance
216:stores, pure play
1177:
1176:
1101:Net present value
1086:Minority interest
1017:Associate company
993:
992:
960:Financial sponsor
880:Special situation
850:Pre-emption right
840:Minority discount
750:Private placement
649:Subordinated debt
604:Exchangeable debt
591:Capital structure
579:Corporate finance
299:978-0-03-030733-1
260:978-0-89930-862-3
198:Texas Instruments
71:Hamada's equation
63:private companies
1197:
1167:
1166:
1157:
1156:
1059:Fairness opinion
1054:Enterprise value
1037:Weighted average
965:Leveraged buyout
820:Drag-along right
718:Equity carve-out
675:Equity offerings
671:
670:
667:
639:Shareholder loan
624:Second lien debt
619:Preferred equity
599:Convertible debt
572:
565:
558:
549:
548:
543:
542:
514:
505:
504:
501:Electronics News
496:
490:
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436:
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407:
401:
400:
382:
368:
339:
333:
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313:
303:
281:
272:
180:, among others.
67:beta coefficient
45:Pure play method
39:brick and mortar
1205:
1204:
1200:
1199:
1198:
1196:
1195:
1194:
1180:
1179:
1178:
1173:
1145:
1121:Stock valuation
1116:Residual income
1032:Cost of capital
989:
985:Project finance
975:High-yield debt
931:
910:Tag-along right
835:Mandatory offer
805:Control premium
786:
779:
755:Public offering
703:Bought out deal
665:
664:
658:
585:
576:
546:
515:
508:
497:
493:
486:
470:
466:
453:(5): 997–1009.
443:
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331:
311:
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261:
245:
243:Further reading
233:
210:
154:GlobalFoundries
146:
131:
124:
111:
108:× (1 − Tax Rate
107:
98:
95:× (1 − Tax Rate
94:
47:
17:
16:Type of company
12:
11:
5:
1203:
1193:
1192:
1175:
1174:
1172:
1171:
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1150:
1147:
1146:
1144:
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1138:
1136:Terminal value
1133:
1128:
1123:
1118:
1113:
1108:
1103:
1098:
1093:
1088:
1083:
1078:
1077:
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1069:Free cash flow
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1061:
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1029:
1024:
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987:
982:
980:Private equity
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631:
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621:
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611:
609:Mezzanine debt
606:
601:
595:
593:
587:
586:
575:
574:
567:
560:
552:
545:
544:
506:
491:
484:
464:
437:
424:10.2307/253253
418:(3): 442–452.
402:
395:
376:
374:
371:
370:
369:
357:10.2307/253253
351:(3): 442–452.
340:
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59:equity capital
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15:
9:
6:
4:
3:
2:
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978:
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688:Book building
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485:9780262516822
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396:9780199664931
392:
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366:
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341:
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330:
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322:(5): 546–549.
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68:
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60:
56:
52:
42:
40:
36:
31:
29:
24:
22:
1111:Real options
927:Tender offer
787:acquisitions
775:Underwriting
760:Rights issue
663:Transactions
522:
518:
500:
494:
474:
467:
450:
446:
440:
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411:
405:
386:
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348:
344:
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315:
284:
250:
222:
211:
147:
127:
120:
75:
48:
37:and have no
32:
25:
20:
18:
885:Squeeze-out
855:Proxy fight
785:Mergers and
698:Bought deal
629:Senior debt
218:e-retailers
82:stock index
1131:Tax shield
1091:Mismarking
895:Stock swap
845:Pitch book
815:Divestment
693:Bookrunner
614:Pari passu
525:(5): 580.
373:References
164:, such as
160:(ICs) for
78:regressing
35:e-commerce
1106:Pure play
999:Valuation
865:Sell side
728:Greenshoe
89:Unlevered
21:pure play
1184:Category
937:Leverage
915:Takeover
810:Demerger
795:Buy side
269:31012404
231:See also
225:start-up
170:Broadcom
166:Qualcomm
133:are the
920:Reverse
905:Synergy
745:Pre-IPO
733:Reverse
654:Warrant
539:2925596
290:623–624
202:Samsung
51:finance
537:
482:
432:253253
430:
393:
365:253253
363:
296:
267:
257:
214:retail
178:Nvidia
174:Xilinx
119:where
644:Stock
535:S2CID
428:JSTOR
361:JSTOR
332:(PDF)
312:(PDF)
186:Intel
581:and
480:ISBN
391:ISBN
294:ISBN
265:OCLC
255:ISBN
200:and
152:and
150:TSMC
126:and
55:cost
527:doi
455:doi
420:doi
353:doi
194:NEC
190:IBM
61:of
57:of
49:In
1186::
533:.
523:30
521:.
509:^
451:36
449:.
426:.
416:55
414:.
359:.
349:55
347:.
334:.
320:31
318:.
314:.
292:.
282:.
263:.
196:,
192:,
188:,
176:,
172:,
168:,
128:DE
121:DE
112:))
99:))
73:.
19:A
571:e
564:t
557:v
541:.
529::
488:.
461:.
457::
434:.
422::
399:.
367:.
355::
302:.
271:.
130:B
123:A
110:A
106:A
97:B
93:B
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