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Author: Mehari Mekonnen Akalu
Publisher: Rozenberg Publishers
ISBN: 9051706731
Category : Capital budget
Languages : en
Pages : 229
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Book Description
Author: Mehari Mekonnen Akalu
Publisher: Rozenberg Publishers
ISBN: 9051706731
Category : Capital budget
Languages : en
Pages : 229
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Book Description
Author: H. Kent Baker
Publisher: John Wiley & Sons
ISBN: 1118044568
Category : Business & Economics
Languages : en
Pages : 533
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Book Description
An essential guide to valuation techniques and financial analysis With the collapse of the economy and financial systems, many institutions are reevaluating what they are willing to spend money on. Project valuation is key to both cost effectiveness measures and shareholder value. The purpose of this book is to provide a comprehensive examination of critical capital budgeting topics. Coverage extends from discussing basic concepts, principles, and techniques to their application to increasingly complex, real-world situations. Throughout, the book emphasizes how financially sound capital budgeting facilitates the process of value creation and discusses why various theories make sense and how firms can use them to solve problems and create wealth. Offers a strategic focus on the application of various techniques and approaches related to a firm's overall strategy Provides coverage of international topics based on the premise that managers should view business from a global perspective Emphasizes the importance of using real options Comprised of contributed chapters from both experienced professionals and academics, Capital Budgeting Valuation offers a variety of perspectives and a rich interplay of ideas related to this important financial discipline.
Author: Baliira Kalyebara
Publisher: Springer Science & Business Media
ISBN: 3642359078
Category : Business & Economics
Languages : en
Pages : 234
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Book Description
The primary contribution of this book is to integrate the important disciplines which simultaneously impact the investment appraisal process. The book presents a study that develops a new approach to investment appraisal which uses a multiple objective linear programming (MOLP) model to integrate the selected disciplines which include capital markets, corporate governance and capital budgeting. The research covers two case studies, one in the e-commerce sector and another in the airline industry in which the above disciplines are integrated. Readers from the areas of corporate governance, regulation, and accounting would find the survey of different approaches and the new integrated optimization approach particularly useful.
Author: Don Dayananda
Publisher: Cambridge University Press
ISBN: 113943487X
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
This book explains the financial appraisal of capital budgeting projects. The coverage extends from the development of basic concepts, principles and techniques to the application of them in increasingly complex and real-world situations. Identification and estimation (including forecasting) of cash flows, project appraisal formulae, and the application of net present value (NPV), internal rate of return (IRR) and other project evaluation criteria are illustrated with a variety of calculation examples. Risk analysis is extensively covered by the use of risk adjusted discount rate, certainty equivalent, sensitivity, simulation and Monte Carlo analysis. The NPV and IRR models are further applied to forestry, property and international investments. Resource constraints are introduced to the capital budgeting decisions with a variety of worked examples using linear programming technique. All calculations are extensively supported by Excel workbooks on the Web, and each chapter is well reviewed by end of chapter questions.
Author: V. Maroyi
Publisher:
ISBN:
Category :
Languages : en
Pages : 142
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Book Description
Capital budgeting is an important decision company managers have to make in order to maximize shareholder value. This is also of paramount importance especially to South Africa mines due to their involvement in large projects which are capital intensive in nature. The main aim of this research was to find out the kind of methods commonly used in practice by mining companies in South Africa in making capital budgeting decisions taking into consideration the firm and decision maker’s characteristics and their influence on the method selected, and to find the best capital budgeting methods for South African mining companies to be used in different situations.
Author: Stewart C. Myers
Publisher: Forgotten Books
ISBN: 9781330395226
Category : Business & Economics
Languages : en
Pages : 71
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Book Description
Excerpt from Procedures for Capital Budgeting Under Uncertainty Accordingly, the cost of capital is defined as the minimum expected rate of return on a project (with given risk characteristics) such that share price is increased by the project's adoption. The cost of capital is thus used as a hurdle rate, with the height of the barrier depending on the risk characteristics of the project compared with those of alternative investments open to shareholders. It is easy to point out deficiencies in this "NPV approach" - for instance, most authors are conspicuously vague about how to measure the hurdle rates appropriate to projects with different risk characteristics. The important point for our purposes, however, is that the NPV approach presumes projects to be risk-independent. That is, it presumes that the value of project B does not depend on the risk characteristics of the firm's existing assets, or of other investments the firm may undertake. 2. Treat capital budgeting as a problem of portfolio selection. - The framework for portfolio selection originally presented by Markowitz [10] [11] is now well-known and widely accepted, although difficulties in assembling data and performing the required calculations have limited its use in practice. The similarity between the tasks of portfolio selection and capital budgeting has led Lintner, among others, to conclude that "the problem of determining the best capital budget of any given size is formally identical to the solution of a security portfolio analysis." About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: Volker G. Hahn
Publisher: BoD – Books on Demand
ISBN: 3844100512
Category :
Languages : en
Pages : 198
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Book Description
Author: Stefano Gatti
Publisher: Academic Press
ISBN: 0123919460
Category : Business & Economics
Languages : en
Pages : 495
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Book Description
Stefano Gatti describes the theory that underpins this cutting-edge industry, and then provides illustrations and examples from actual practice to illustrate that theory.
Author: Carlo Alberto Magni
Publisher: Springer Nature
ISBN: 3030276627
Category : Business & Economics
Languages : en
Pages : 751
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Book Description
This book presents a new approach to the valuation of capital asset investments and investment decision-making. Starting from simple premises and working logically through three basic elements (capital, income, and cash flow), it guides readers on an interdisciplinary journey through the subtleties of accounting and finance, explaining how to correctly measure a project’s economic profitability and efficiency, how to assess the impact of investment policy and financing policy on shareholder value creation, and how to design reliable, transparent, and logically consistent financial models. The book adopts an innovative pedagogical approach, based on a newly developed accounting-and-finance-engineering system, to help readers gain a deeper understanding of the accounting and financial magnitudes, learn about new analytical tools, and develop the necessary skills to practically implement them. This diverse approach to capital budgeting allows a sophisticated economic analysis in both absolute terms (values) and relative terms (rates of return), and is applicable to a wide range of economic entities, including real assets and financial assets, engineering designs and manufacturing schemes, corporate-financed and project-financed transactions, privately-owned projects and public investments, individual projects and firms. As such, this book is a valuable resource for a broad audience, including scholars and researchers, industry practitioners, executives, and managers, as well as students of corporate finance, managerial finance, engineering economics, financial management, management accounting, operations research, and financial mathematics. It features more than 180 guided examples, 50 charts and figures and over 160 explanatory tables that help readers grasp the new concepts and tools. Each chapter starts with an abstract and a list of the skills readers can expect to gain, and concludes with a list of key points summarizing the content.
Author: Paul Asquith
Publisher: John Wiley & Sons
ISBN: 1119207436
Category : Business & Economics
Languages : en
Pages : 499
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Book Description
A discussion-based learning approach to corporate finance fundamentals Lessons in Corporate Finance explains the fundamentals of the field in an intuitive way, using a unique Socratic question and answer approach. Written by award-winning professors at M.I.T. and Tufts, this book draws on years of research and teaching to deliver a truly interactive learning experience. Each case study is designed to facilitate class discussion, based on a series of increasingly detailed questions and answers that reinforce conceptual insights with numerical examples. Complete coverage of all areas of corporate finance includes capital structure and financing needs along with project and company valuation, with specific guidance on vital topics such as ratios and pro formas, dividends, debt maturity, asymmetric information, and more. Corporate finance is a complex field composed of a broad variety of sub-disciplines, each involving a specific skill set and nuanced body of knowledge. This text is designed to give you an intuitive understanding of the fundamentals to provide a solid foundation for more advanced study. Identify sources of funding and corporate capital structure Learn how managers increase the firm's value to shareholders Understand the tools and analysis methods used for allocation Explore the five methods of valuation with free cash flow to firm and equity Navigating the intricate operations of corporate finance requires a deep and instinctual understanding of the broad concepts and practical methods used every day. Interactive, discussion-based learning forces you to go beyond memorization and actually apply what you know, simultaneously developing your knowledge, skills, and instincts. Lessons in Corporate Finance provides a unique opportunity to go beyond traditional textbook study and gain skills that are useful in the field.
