LIST OF ABBREVIATIONS
Adj. Adjusted AOP Abnormal operating performance BHAR Buy-and-hold abnormal returns BHR Buy-and-hold returns BV Book value CAAR Cumulative average abnormal returns CAGR Compound annual growth rate Capex Capital expenditure CAR Cumulative abnormal returns CDAX Composite DAX (see below: DAX) CEO Chief Executive Officer CFO Chief Financial Officer DAX Deutscher Aktienindex DCF Discounted cash flow EBIT Earnings before interest and taxes EBITDA Earnings before interest, taxes, depreciation and amortization EV Enterprise value Exp. Expense FY Fiscal year IPO Initial public offering LVMH LVMH Moët Hennessy – Louis Vuitton SA M&A Mergers and acquisitions MV Market value No. Number XVIII Nobs Number of observations OCF Operating cash flow OLS Ordinary least squares P/E Price/earnings PDA Personal digital assistant PE Private equity Perf-matched Performance-matched PPR Pinault-Printemps-Redoute SA SEO Seasoned equity offering SIC Standard Industrial Classification VC Venture capital WTA Willingness to accept WTO World Trade Organization WTP Willingness to pay
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