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Author : Arthur George Wentz
Publisher :
ISBN 13 :
Total Pages : 306 pages
Book Rating : 4.:/5 (251 download)
Download or read book Intrinsic Value and Its Use as a Determinant of Cost of Capital written by Arthur George Wentz and published by . This book was released on 1969 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bud Labitan
Publisher : Lulu.com
ISBN 13 : 0557483336
Total Pages : 188 pages
Book Rating : 4.5/5 (574 download)
Download or read book Valuations - 30 Intrinsic Value Estimations in the style of Warren Buffett and Charlie Munger written by Bud Labitan and published by Lulu.com. This book was released on 2010-05-24 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers 30 sample "intrinsic value per share" business valuations in the style that Warren Buffett and Charlie Munger may use. In each case the author tried to simulate an approach that they would take to valuing a business, based on what they have written and talked about. However, all of the growth assumptions used are the author's own. No consultation nor endorsement was sought with Mr. Buffett or his business partner Mr. Munger. The examples given are chosen for educational and illustrative purposes only. The valuation cases are estimations written in a style that emphasizes a focus on free cash flow and the number of shares outstanding. Readers are also repeatedly encouraged to think about the business' competitive position. In reality, these businesses may outperform or they may underperform any of the author's projections.
Author : Cleveland S. Patterson
Publisher : Bloomsbury Publishing USA
ISBN 13 : 0313035717
Total Pages : 342 pages
Book Rating : 4.3/5 (13 download)
Download or read book The Cost of Capital written by Cleveland S. Patterson and published by Bloomsbury Publishing USA. This book was released on 1995-04-30 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Knowledge about the magnitude of the cost of capital invested in an asset and its determinants is essential for the analysis of corporate investment decisions and for assessing profitability. This book provides a clear conceptual understanding of the cost of capital, the characteristics of an asset that influence it, and a critical, comprehensive, and up-to-date evaluation of practical means for estimating its magnitude. It is intended primarily for use by professional managers, but will also be valuable to future managers in advanced capital budgeting courses. The focus of the discussion is on estimation methods that are theoretically sound and consistent with a corporate goal of value creation. Three methods are analyzed in depth: the discounted cash flow model, the capital asset pricing model, and arbitrage pricing theory. For each method, the basic theory is set out in a nontechnical manner and empirical evidence in support of the model is critically reviewed. The bulk of the discussion then focuses on practical means for implementing the methods for decision-making purposes. Later chapters focus on the effects of the debt-supporting characteristics of assets, on the valuation of options embedded in securities, and on the estimation of the cost of capital for evaluating international investments. The final chapter discusses certain aspects of the use of cost of capital in public utility regulation. Care is taken to separate out key issues from more peripheral material through a comprehensive set of supplementary notes.
Author : Nahid Maleki Nia
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book The Relationship Between Cost of Capital and the Criteria Related to Economic Value Added, Including Economic Value Added (EVA), Refined EVA (REVA) Market Value Added (MVA) with Intrinsic Value of Firm in the Active Listed Companies of The Tehran Stock Exchange (TSE). written by Nahid Maleki Nia and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the latest firm performance assessment measures is economic value added. Based on this measure, firm value depends on two factors: capital return and cost of capital. This research studies the correlation between criteria's related to economic value added (EVA, REVA, MVA) with the intrinsic value of companies and comparison with the correlation between the other variable (cost of capital) with the intrinsic value of companies listed in Tehran Stock Exchange. and specify the criterion related to economic value added (EVA, REVA, MVA) which can be appropriate to evaluate company performance and has more correlation with the intrinsic value of companies? In order to answer this question 110 year - company data are selected from the active companies listed in Tehran Stock Exchange and statistical analysis was done. The results indicate that there are significant relationships between economic value added and market value added with the intrinsic value of company. So market value added has a stronger relationship with the intrinsic value of the company among these three criteria.
Author : Shannon P. Pratt
Publisher : John Wiley & Sons
ISBN 13 : 9780470223710
Total Pages : 448 pages
Book Rating : 4.2/5 (237 download)
Download or read book Cost of Capital written by Shannon P. Pratt and published by John Wiley & Sons. This book was released on 2008-02-25 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this long-awaited Third Edition of Cost of Capital: Applications and Examples, renowned valuation experts and authors Shannon Pratt and Roger Grabowski address the most controversial issues and problems in estimating the cost of capital. This authoritative book makes a timely and significant contribution to the business valuation body of knowledge and is an essential part of the expert's library.
Author : Robert Joseph Oster
Publisher :
ISBN 13 :
Total Pages : 346 pages
Book Rating : 4.:/5 (29 download)
Download or read book The Cost of Capital and Investment Behavior: a Study of the Opportunity Cost of Investment, Its Determinants, and Its Determination of Business Investment Behavior written by Robert Joseph Oster and published by . This book was released on 1967 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : EMMANUEL ATTAH KUMAH
Publisher : Lulu.com
ISBN 13 : 1304260453
Total Pages : 140 pages
Book Rating : 4.3/5 (42 download)
Download or read book COST OF CAPITAL (A FINANCIAL TOOL TO CREATE AND MAXIMIZE SHAREHOLDER VALUE) written by EMMANUEL ATTAH KUMAH and published by Lulu.com. This book was released on 2013-07-27 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: The cost of capital is important in the financial management of every business. A measure of the cost of capital is required when evaluating various aspects of strategic business plans, e.g., selecting a financial leverage position, calculating the profitability of alternative investment opportunities, measuring economic value-added and comparing various merger and acquisition plans. The task of determining the appropriate cost of capital to use requires a careful analysis of the effect of alternative financing choices which are open to every business. This report considers the cost of capital of Royal Roots Company. Ways are examined to determine the cost of capital by Royal Roots Company. This book sequentially identifies: principles of cost of capital, the capital structure, the cost of debt, cost of equity, cost of preference shares and overall cost of capital (weighted average cost of capital).The cost of equity capital and debt determines the overall cost of capital of any company (public or private)
Author : Aswath Damodaran
Publisher : Now Publishers Inc
ISBN 13 : 1601980140
Total Pages : 102 pages
Book Rating : 4.6/5 (19 download)
Download or read book Valuation Approaches and Metrics written by Aswath Damodaran and published by Now Publishers Inc. This book was released on 2005 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Aswath Damodaran
Publisher : John Wiley & Sons
ISBN 13 : 9780471414902
Total Pages : 1014 pages
Book Rating : 4.4/5 (149 download)
Download or read book Investment Valuation written by Aswath Damodaran and published by John Wiley & Sons. This book was released on 2002-01-31 with total page 1014 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Everest Media,
Publisher : Everest Media LLC
ISBN 13 : 1669365158
Total Pages : 45 pages
Book Rating : 4.6/5 (693 download)
Download or read book Summary of Bruce C. Greenwald, Judd Kahn & Paul D. Sonkin's Value Investing written by Everest Media, and published by Everest Media LLC. This book was released on 2022-03-26T22:59:00Z with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Please note: This is a companion version & not the original book. Sample Book Insights: #1 Value investing is the process of buying securities only when their market prices are significantly below their calculated intrinsic value. It is a simple process, but it requires a lot of discipline. #2 There are two types of fundamental investors: macrofundamentalists, who are concerned with broad economic factors that affect the entire market, and microfundamentalists, who are concerned with the economics of specific securities. #3 There are many different approaches to microfundamentalist investing, and each one focuses on a different set of economic fundamentals and securities. The most common approach focuses on current price of a stock or other security as the point of departure, and then studies the history of this security to anticipate how the critical variables will change. #4 The case for value investing is both theoretical and factual. It has been proven that value investing strategies have worked, and over extended periods, they have produced better returns than have both the leading alternatives and the market as a whole.
Author : Aswath Damodaran
Publisher : FT Press
ISBN 13 : 0137036558
Total Pages : 604 pages
Book Rating : 4.1/5 (37 download)
Download or read book The Dark Side of Valuation written by Aswath Damodaran and published by FT Press. This book was released on 2009-06-19 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: Renowned valuation expert Aswath Damodaran reviews the core tools of valuation, examines today’s most difficult estimation questions and issues, and then systematically addresses the valuation challenges that arise throughout a firm’s lifecycle in The Dark Side of Valuation: Valuing Young, Distressed and Complex Businesses. In this thoroughly revised edition, he broadens his perspective to consider all companies that resist easy valuation, highlighting specific types of hard-to-value firms, including commodity firms, cyclical companies, financial services firms, organizations dependent on intangible assets, and global firms operating diverse businesses. He covers the entire corporate lifecycle, from “idea” and “nascent growth” companies to those in decline and distress, and offers specific guidance for valuing technology, human capital, commodity, and cyclical firms. ·
Author : Roger J. Grabowski
Publisher : John Wiley & Sons
ISBN 13 : 1119366763
Total Pages : 480 pages
Book Rating : 4.1/5 (193 download)
Download or read book 2017 Valuation Handbook written by Roger J. Grabowski and published by John Wiley & Sons. This book was released on 2017-07-12 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: EVERYTHING YOU NEED FOR ACCURATE INTERNATIONAL COST OF CAPITAL ESTIMATIONS—IN A SINGLE VOLUME The 2017 Valuation Handbook – International Guide to Cost of Capital is part of the U.S. and international series of valuation resources authored by Duff & Phelps and published by John Wiley & Sons. This annually updated reference provides business valuation and finance professionals with the critical data they need to assess risk and develop cost of capital estimates on a global scale. Gauging the risks of an international investment is one of the trickiest aspects of finance. This comprehensive guidebook provides you with usable international data and methodology, and the ability to: Turn to a definitive resource of world-class data and guidance to gain a distinct competitive advantage in real-world situations. Access costly and difficult-to-obtain international data, assembled into easy-to-use cost of capital inputs at an accessible price point. Quickly grasp how concepts and methodologies translate into actual practice when they are brought to life in exemplifying cases. Accurate. Reliable. Trusted. The 2017 Valuation Handbook – International Guide to Cost of Capital gives you the upper hand the moment you open it. Other volumes in the annual series include: 2017 Valuation Handbook – International Industry Cost of Capital 2017 Valuation Handbook – U.S. Guide to Cost of Capital 2017 Valuation Handbook – U.S. Industry Cost of Capital
Author : Aswath Damodaran
Publisher : Columbia University Press
ISBN 13 : 0231542747
Total Pages : 295 pages
Book Rating : 4.2/5 (315 download)
Download or read book Narrative and Numbers written by Aswath Damodaran and published by Columbia University Press. This book was released on 2017-01-10 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can a company that has never turned a profit have a multibillion dollar valuation? Why do some start-ups attract large investments while others do not? Aswath Damodaran, finance professor and experienced investor, argues that the power of story drives corporate value, adding substance to numbers and persuading even cautious investors to take risks. In business, there are the storytellers who spin compelling narratives and the number-crunchers who construct meaningful models and accounts. Both are essential to success, but only by combining the two, Damodaran argues, can a business deliver and sustain value. Through a range of case studies, Narrative and Numbers describes how storytellers can better incorporate and narrate numbers and how number-crunchers can calculate more imaginative models that withstand scrutiny. Damodaran considers Uber's debut and how narrative is key to understanding different valuations. He investigates why Twitter and Facebook were valued in the billions of dollars at their public offerings, and why one (Twitter) has stagnated while the other (Facebook) has grown. Damodaran also looks at more established business models such as Apple and Amazon to demonstrate how a company's history can both enrich and constrain its narrative. And through Vale, a global Brazil-based mining company, he shows the influence of external narrative, and how country, commodity, and currency can shape a company's story. Narrative and Numbers reveals the benefits, challenges, and pitfalls of weaving narratives around numbers and how one can best test a story's plausibility.
Author : Roger J. Grabowski
Publisher : John Wiley & Sons
ISBN 13 : 1119070201
Total Pages : 443 pages
Book Rating : 4.1/5 (19 download)
Download or read book 2015 International Valuation Handbook - Guide to Cost of Capital written by Roger J. Grabowski and published by John Wiley & Sons. This book was released on 2015-06-04 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New Standard Source of International Cost of Capital Analysis The 2015 International Valuation Handbook – Guide to Cost of Capital provides data and methodology guidance that will enable the reader to assess risk and develop cost of capital estimates on a global scale, coupled with data exhibits that provide country-level country risk premia (CRPs), Relative Volatility (RV) factors, and equity risk premia (ERPs). The data exhibits can be used to estimate country-level cost of equity capital globally, for up to 188 countries, from the perspective of investors based in up to 55 different countries.* Don't Forget the Semi-annual Update The hardcover 2015 International Valuation Handbook - Guide to Cost of Capital includes international cost of capital data updated December 2014 and March 2015. This critical analysis is updated in a Semi-annual Update with data through June and September 2015 for a full year's coverage. Ensure that you are using the most up-to-date international cost of capital data and information available: add the Semi-annual Update and keep your data library current. For more information about Duff & Phelps valuation data resources published by Wiley, please visit www.wiley.com/go/valuationhandbooks. Also Available 2015 International Valuation Handbook - Industry Cost of Capital 2015 Valuation Handbook - Guide to Cost of Capital 2015 Valuation Handbook - Industry Cost of Capital Key Features Country-level Country Risk Premia (CRPs) for up to 188 countries: The 2015 International Valuation Handbook – Guide to Cost of Capital provides country-level country risk premia for up to 188 countries globally, from the perspective of investors based in up to 55 different countries. CRPs are estimated using the following models: (i) Country Credit Rating Model, and (ii) Country Yield Spread Model. Relative Volatility (RV) Factors for up to 69 countries: The 2015 International Valuation Handbook – Guide to Cost of Capital provides country-level relative volatility factors for up to 69 countries from the perspective of investors in the U.S. and Germany. Relative volatility factors are estimated using the Relative Standard Deviation Model. Equity Risk Premia (ERPs) for 18 countries based in USD and “local” currency: The 2015 International Valuation Handbook – Guide to Cost of Capital provides long-horizon and short-horizon ERP data in USD and “local” currencies. Additional ERP resources include Pablo Fernandez’ survey of ERPs for a variety of counties. *Depending on the estimation model being employed, and data availability. Some models do not include estimates for all countries. The Semi-annual update is (i) optional, and (ii) not sold separately. The Semi-annual Update is delivered in PDF format only.
Author : Wilbur G. Lewellen
Publisher :
ISBN 13 :
Total Pages : 148 pages
Book Rating : 4.3/5 (512 download)
Download or read book The Cost of Capital written by Wilbur G. Lewellen and published by . This book was released on 1969 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 620 pages
Book Rating : 4.F/5 ( download)
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2004 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ian Davidson
Publisher : Routledge
ISBN 13 : 041569602X
Total Pages : 330 pages
Book Rating : 4.4/5 (156 download)
Download or read book Principles of Equity Valuation written by Ian Davidson and published by Routledge. This book was released on 2012 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a rigorous introduction to corporate finance and the valuation of equity. The first half of the book covers much of the received theory in these areas such as the relationship between the risk of an equity security and the return one can expect from it, the effects of leverage (that is, the borrowing policies of the firm) on the return one can expect from the firm’s shares and the role that dividends, operating cash flows and accounting earnings play in the valuation of equity. The second half of the book is more advanced and deals with the important role that "real options" (that is, as yet unexploited investment opportunities) play in the valuation of equity.
