In the period 1991-2010, the S&P 500 destroyed value for the shareholders ($4.5 trillion). In 1991-1999 it created value ($5.1 trillion), but in 2000-2010 it destroyed $9.6 trillion. The market value of the S&P 500 was $2.8 trillion in 1991 and $11.4 trillion in 2010.We also calculate the...

El aumento del valor de la empresa en un periodo viene determinado fundamentalmente por los cambios de las expectativas de crecimiento de los flujos de la empresa y también por los cambios en la apreciación del riesgo de los mismos que se traducen en variaciones en la tasa de descuento. Por...

Only 25 companies out of 136 had negative return in January-September 2009 (133 in 2008). The 136 companies created value in January-September 2009 (64 billion euros), but destroyed value in 2008 (420 billion euros) and in 2007 (17 billion euros). The average return of the 136 companies was 24%...

Only 23 Spanish companies out of 125 had positive return in 2010. The companies destroyed value for their shareholders in 2010 (155 billion euros), created value in 2009 (100 billion euros), and also destroyed value in 2008 (420 billion euros) and in 2007 (17 billion euros). The average return...

Only 36 companies out of 125 had negative return in 2009 (133 out of 136 in 2008). The companies created value in 2009 (100 billion euros), but destroyed value in 2008 (420 billion euros) and in 2007 (17 billion euros). The average return of the 125 companies was 30% in 2009 and -40% in 2008

We compute the Shareholder Value Creation of Santander, BBVA, Popular and Bankinter between 1991 and 2010. The shareholder value creation during this period was: Santander -24 billion euros; BBVA -22; Popular 1.6 and Bankinter 0.6.The average shareholder return was: Santander 12.7%; BBVA 11.5%;...