Ulrike Schirmer focuses on the connection between capital market-oriented corporate valuation and the specifics of a corporate group. She particularly analyzes how interconnections between group companies, as well as the consideration of minority shareholders and specific business risks of the group companies, should be taken into account as additional peculiarities in the valuation of a corporate group. Within the framework of a pre-tax calculation, valuation calculations are developed for both an autonomous and a value-dependent financing policy. In doing so, the author bases her work on the current German tax system using partial tax accounting.