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Author: Lindon J. Robison
Publisher:
ISBN: 9780870134883
Category : Business & Economics
Languages : en
Pages : 661
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Book Description
Present Value Models and Investment Analysis is a comprehensive treatment of the foundations of present value analysis and its many applications. It establishes the basic principles and procedures for using present value models and demonstrates how present value models can enhance long-term decision making, value durable assets, determine investment utilization strategies, account for risks, and understand liquidity relationships over time. It also assists students and professionals in applying consistently present value models and investment analysis, in a wide range of' applications, including business decisions, research valuations, project analysis, management of natural resources, financial analysis, and others. It is designed for advanced undergraduate students, graduate students, and professionals who have introductory experience with present value concepts, economics, and finance.
Author: Lindon J. Robison
Publisher:
ISBN: 9780870134883
Category : Business & Economics
Languages : en
Pages : 661
Get Book
Book Description
Present Value Models and Investment Analysis is a comprehensive treatment of the foundations of present value analysis and its many applications. It establishes the basic principles and procedures for using present value models and demonstrates how present value models can enhance long-term decision making, value durable assets, determine investment utilization strategies, account for risks, and understand liquidity relationships over time. It also assists students and professionals in applying consistently present value models and investment analysis, in a wide range of' applications, including business decisions, research valuations, project analysis, management of natural resources, financial analysis, and others. It is designed for advanced undergraduate students, graduate students, and professionals who have introductory experience with present value concepts, economics, and finance.
Author: Lindon J. Robison
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Aswath Damodaran
Publisher: Now Publishers Inc
ISBN: 1601980140
Category : Business & Economics
Languages : en
Pages : 102
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Book Description
Valuation lies at the heart of much of what we do in finance, whether it is the study of market efficiency and questions about corporate governance or the comparison of different investment decision rules in capital budgeting. In this paper, we consider the theory and evidence on valuation approaches. We begin by surveying the literature on discounted cash flow valuation models, ranging from the first mentions of the dividend discount model to value stocks to the use of excess return models in more recent years. In the second part of the paper, we examine relative valuation models and, in particular, the use of multiples and comparables in valuation and evaluate whether relative valuation models yield more or less precise estimates of value than discounted cash flow models. In the final part of the paper, we set the stage for further research in valuation by noting the estimation challenges we face as companies globalize and become exposed to risk in multiple countries.
Author: Jerald E. Pinto
Publisher: John Wiley & Sons
ISBN: 1119104262
Category : Business & Economics
Languages : en
Pages : 624
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Book Description
Navigate equity investments and asset valuation with confidence Equity Asset Valuation, Third Edition blends theory and practice to paint an accurate, informative picture of the equity asset world. The most comprehensive resource on the market, this text supplements your studies for the third step in the three-level CFA certification program by integrating both accounting and finance concepts to explore a collection of valuation models and challenge you to determine which models are most appropriate for certain companies and circumstances. Detailed learning outcome statements help you navigate your way through the content, which covers a wide range of topics, including how an analyst approaches the equity valuation process, the basic DDM, the derivation of the required rate of return within the context of Markowitz and Sharpe's modern portfolio theory, and more. Equity investments encompass the buying and holding of shares of stock in the anticipation of collecting income from dividends and capital gains. Determining which shares will be profitable is key, and an array of valuation techniques is applied on today's market to decide which stocks are ripe for investment and which are best left out of your portfolio. Access the most comprehensive equity asset valuation text on the market Leverage detailed learning outcome statements that focus your attention on key concepts, and guide you in applying the material accurately and effectively Explore a wide range of essential topics, such as the free cash flow approach, valuation using Graham and Dodd type concepts of earning power, associated market multiples, and residual income models Improve your study efforts by leveraging the text during your CFA certification program prep Equity Asset Valuation, Third Edition is a comprehensive, updated text that guides you through the information you need to know to fully understand the general analysis of equity investments.
Author: Richard A. DeFusco
Publisher: John Wiley & Sons
ISBN: 1118044843
Category : Business & Economics
Languages : en
Pages : 226
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Book Description
In Quantitative Investment Analysis Workbook, Second Edition, financial experts Richard DeFusco, Dennis McLeavey, Jerald Pinto, and David Runkle offer you a wealth of practical information and exercises that will further enhance your understanding of this discipline. This essential study guide—which parallels the main book chapter by chapter—contains challenging problems and a complete set of solutions as well as concise learning outcome statements and summary overviews.
Author: Frank J. Fabozzi
Publisher: CFA Institute Research Foundation
ISBN: 1944960341
Category : Business & Economics
Languages : en
Pages : 136
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Book Description
The price at which a stock is traded in the market reflects the ability of the firm to generate cash flow and the risks associated with generating the expected future cash flows. The authors point to the limits of widely used valuation techniques. The most important of these limits is the inability to forecast cash flows and to determine the appropriate discount rate. Another important limit is the inability to determine absolute value. Widely used valuation techniques such as market multiples - the price-to-earnings ratio, firm value multiples or a use of multiple ratios, for example - capture only relative value, that is, the value of a firm's stocks related to the value of comparable firms (assuming that comparable firms can be identified). The study underlines additional problems when it comes to valuing IPOs and private equity: Both are sensitive to the timing of the offer, suffer from information asymmetry, and are more subject to behavioral elements than is the case for shares of listed firms. In the case of IPOs in particular, the authors discuss how communication strategies and media hype play an important role in the IPO valuation/pricing process.
Author: Aswath Damodaran
Publisher: John Wiley & Sons
ISBN: 9780471414902
Category : Business & Economics
Languages : en
Pages : 1014
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Book Description
Valuation is a topic that is extensively covered in business degree programs throughout the country. Damodaran's revisions to "Investment Valuation" are an addition to the needs of these programs.
Author: Richard A. DeFusco
Publisher: John Wiley & Sons
ISBN: 1118044789
Category : Business & Economics
Languages : en
Pages : 576
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Book Description
In the Second Edition of Quantitative Investment Analysis, financial experts Richard DeFusco, Dennis McLeavey, Jerald Pinto, and David Runkle outline the tools and techniques needed to understand and apply quantitative methods to today's investment process. Now, in Quantitative Investment Analysis Workbook, Second Edition, they offer you a wealth of practical information and exercises that will further enhance your understanding of this discipline. This essential study guide--which parallels the main book chapter by chapter--contains challenging problems and a complete set of solutions as well as concise learning outcome statements and summary overviews. If you're looking to successfully navigate today's dynamic investment environment, the lessons found within these pages can show you how. Topics reviewed include: The time value of money Discounted cash flow Probability distributions Sampling and estimation Hypothesis testing Multiple regression Time-series analysis And much more
Author: Ryan C. Fuhrmann
Publisher: CFA Institute
ISBN: 1942713428
Category : Business & Economics
Languages : en
Pages : 60
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Book Description
Author: Brian Kettell
Publisher: Butterworth-Heinemann
ISBN: 9780750653831
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
New ways of looking, researching and valuing these companies need to be addressed. Valuation of Internet and Technology Stocks offers practical information to enable institutional investors to value internet.coms and high tech companies more accurately. The author highlights the deficiencies in existing stock market techniques and shows how they need to be modified or, in most cases, replaced with techniques more suited for the revolution in economies which had taken place since 1991. The economic rules in the financial market place have changed to the extent that strategies successfully applied in the post war era have now been relegated to the deleted items box. 'Valuation on Internet and Technology Stocks' reviews existing stock market techniques highlighting their deficiencies and show how the New Economics necessitates new forms of investment analysis. * Investigates why there has been a high correlation between high loss companies and a rocketing stock price * Questions whether there is still a place for discounted cash flows when there is no cash flow to discount * Considers what new methods are available to value super growth companies and whether these methods are any better than existing techniques
