The Real Cost of Capital

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Author :
Publisher : Pearson UK
ISBN 13 : 0273748254
Total Pages : 272 pages
Book Rating : 4.2/5 (737 download)

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Book Synopsis The Real Cost of Capital by : Tim Ogier

Download or read book The Real Cost of Capital written by Tim Ogier and published by Pearson UK. This book was released on 2012-12-27 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book is required reading for anyone involved in the practical issues of cost of capital decisions. It is written in a way that engages the novice, and yet challenges the professional to rethink the real issues." Brendan Scholey, Bloomberg. The cost of capital is the fundamental financial tool for business decision-making. It drives measures of value creation and destruction, and forms the basis of financial analysis using cash flow and other frameworks. This book is here to help the business world to use the cost of capital for real. The Real Cost of Capital describes the key issues in understanding and using the cost of capital today, taking principles from the world of managerial finance and putting them into the context of major investment decisions. Should, for example, a company use its own cost of capital to appraise new investments and acquisitions? What cost of capital might a US company use when appraising an investment in, say, the Philippines? For a typical investment, which type of risk is more important – specific risk or systematic risk? How should these risks be reflected in, say, a venture capital situation? Debt is cheaper than equity – so why don’t companies raise more debt than they do? Most practitioners use the weighted average cost of capital ("WACC") in valuation and appraisal – but when should an alternative approach be used? This book will help you find the answers. The Real Cost of Capital is required reading for anyone involved in the practical issues of cost of capital decisions. It brings together the latest academic thinking with practical requirements in a real-life context, and the authors have used their combined experience of advising governments and international blue-chip companies to bring readers up to date with current issues. The Real Cost of Capital includes chapters on choosing models, calculating the cost of capital using real-life data sources, and calculating the cost of capital in an international context (a subject not usually covered in academic texts). It also has chapters and worked examples on the practical application of the cost of capital in business valuations, high-tech situations and the wide range of premia and discounts that can be applied to the cost of capital. The book has an associated website www.costofcapital.net which contains some current links. The site also gives access to tax rate information and financial data relevant to using cost of capital around the world. The objective is to make sure that the corporate planner, student, adviser or decision maker, when she/he is on the road, can simply open the book or dial in and take advantage of a wealth of decision-making support, without the pain of extended academic study.

Cost of Capital in Litigation

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 0470944919
Total Pages : 323 pages
Book Rating : 4.4/5 (79 download)

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Book Synopsis Cost of Capital in Litigation by : Shannon P. Pratt

Download or read book Cost of Capital in Litigation written by Shannon P. Pratt and published by John Wiley & Sons. This book was released on 2010-10-26 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost of Capital in Litigation addresses cost of capital issues in litigation and discusses major decisions, highlighting how to avoid errors that have often been made by experts. The book helps the attorney and valuation expert understand the decisions within the context of the theory of cost of capital and includes a chapter on cross-examining experts on cost of capital issues. Throughout, there are citation to relevant material and cross-reference to Cost of Capital: Applications and Examples, Fourth Edition.

Stochastic Discounted Cash Flow

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Author :
Publisher : Springer Nature
ISBN 13 : 303037081X
Total Pages : 256 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Stochastic Discounted Cash Flow by : Lutz Kruschwitz

Download or read book Stochastic Discounted Cash Flow written by Lutz Kruschwitz and published by Springer Nature. This book was released on 2020-02-28 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses firm valuation, which is of interest to economists, particularly those working in finance. Firm valuation comes down to the calculation of the discounted cash flow, often only referred to by its abbreviation, DCF. There are, however, different coexistent versions, which seem to compete against each other, such as entity approaches and equity approaches. Acronyms are often used, such as APV (adjusted present value) or WACC (weighted average cost of capital), two concepts classified as entity approaches. This book explains why there are several procedures and whether they lead to the same result. It also examines the economic differences between the methods and indicates the various purposes they serve. Further it describes the limits of the procedures and the situations they are best applied to. The problems this book addresses are relevant to theoreticians and practitioners alike.

The Cost of Capital

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Publisher : Cambridge University Press
ISBN 13 : 9780521000444
Total Pages : 380 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis The Cost of Capital by : Seth Armitage

Download or read book The Cost of Capital written by Seth Armitage and published by Cambridge University Press. This book was released on 2005-03-17 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thorough exposition of the theory relating to the cost of capital.

Cost of Capital

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Publisher : John Wiley & Sons
ISBN 13 : 9780470223710
Total Pages : 448 pages
Book Rating : 4.2/5 (237 download)

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Book Synopsis Cost of Capital by : Shannon P. Pratt

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.

Regulatory Risk and the Cost of Capital

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Publisher : Springer Science & Business Media
ISBN 13 : 3540308024
Total Pages : 226 pages
Book Rating : 4.5/5 (43 download)

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Book Synopsis Regulatory Risk and the Cost of Capital by : Burkhard Pedell

Download or read book Regulatory Risk and the Cost of Capital written by Burkhard Pedell and published by Springer Science & Business Media. This book was released on 2006-04-20 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Austrian Controller Award 2005 This book develops a comprehensive concept of regulatory risk integrating existing theoretical and empirical research. The focus is on explaining how the design of the regulatory system influences the risk of a rate-regulated firm, as well as on elaborating appropriate methods for the determination of the regulatory rate base and the allowed rate of return. Regarding the regulatory rate base, the question of whether market value of capital or book value of assets should be employed and the choice of the depreciation scheme are at the center of the discussion. Specific methodical issues concerning cost of capital assessment for rate-regulated firms are analyzed, i.e. the circularity of rate regulation, the sharing of risks between capital owners and rate payers, the length of the regulatory review period, the regulation of the capital structure as well as the conversion of a post-tax to pre-tax weighted average cost of capital.

The High Cost of Capital

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Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis The High Cost of Capital by : United States. Congress. Joint Economic Committee

Download or read book The High Cost of Capital written by United States. Congress. Joint Economic Committee and published by . This book was released on 1983 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Role of Technology in Promoting Industrial Competitiveness

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Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Role of Technology in Promoting Industrial Competitiveness by : United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on Science, Technology, and Space

Download or read book Role of Technology in Promoting Industrial Competitiveness written by United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on Science, Technology, and Space and published by . This book was released on 1983 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Deficit Reduction Proposals

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Publisher :
ISBN 13 :
Total Pages : 816 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Deficit Reduction Proposals by : United States. Congress. Senate. Committee on Finance

Download or read book Deficit Reduction Proposals written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1984 with total page 816 pages. Available in PDF, EPUB and Kindle. Book excerpt:

United States-European Communities Steel Pipe and Tube Imports Agreement

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Author :
Publisher :
ISBN 13 :
Total Pages : 1248 pages
Book Rating : 4.:/5 (51 download)

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Book Synopsis United States-European Communities Steel Pipe and Tube Imports Agreement by : United States. Congress. Senate. Committee on Finance. Subcommittee on International Trade

Download or read book United States-European Communities Steel Pipe and Tube Imports Agreement written by United States. Congress. Senate. Committee on Finance. Subcommittee on International Trade and published by . This book was released on 1984 with total page 1248 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Fundamentals of Corporate Finance

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Publisher : John Wiley & Sons
ISBN 13 : 1119795435
Total Pages : 834 pages
Book Rating : 4.1/5 (197 download)

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Book Synopsis Fundamentals of Corporate Finance by : Robert Parrino

Download or read book Fundamentals of Corporate Finance written by Robert Parrino and published by John Wiley & Sons. This book was released on 2021-12-14 with total page 834 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fundamentals of Corporate Finance, 5th Edition develops the key concepts of corporate finance with an intuitive approach while emphasizing computational skills. This course helps students develop an intuitive understanding of key financial concepts and provides them with problem-solving and decision-making skills. Using an intuitive approach, students develop a richer understanding of corporate finance concepts while also enabling them to develop the critical judgments necessary to apply financial tools in real-world decision-making situations. Corporate Finance, 5e offers a level of rigor that is appropriate for both business and finance majors and yet presents the content in a manner that students find accessible.

Principles of Cash Flow Valuation

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Publisher : Elsevier
ISBN 13 : 0080514804
Total Pages : 517 pages
Book Rating : 4.0/5 (85 download)

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Book Synopsis Principles of Cash Flow Valuation by : Joseph Tham

Download or read book Principles of Cash Flow Valuation written by Joseph Tham and published by Elsevier. This book was released on 2004-02-23 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: Principles of Cash Flow Valuation is the only book available that focuses exclusively on cash flow valuation. This text provides a comprehensive and practical, market-based framework for the valuation of finite cash flows derived from a set of integrated financial statements, namely, the income statement, balance sheet, and cash budget. The authors have distilled the essence of years of gathering academic wisdom in the study of cash flow analysis and the cost of capital. Their work should go a long way toward bridging the gap between the application of cost benefit analysis and the theory of capital budgeting. This book covers the basic concepts in market-based cash flow valuation. Topics include the tme value of money (TVM) and an introduction to cost of capital; basic review of financial statements and accounting concepts; construction of integrated pro-forma financial statements; derivation of free cash flows; use of the WACC in theory and in practice; estimating the WACC for non traded firms; calculating the terminal value beyond the planning period. It also revisits the theory for cost of capital and explains how cash flows are valued in reality. The ideas are illustrated using examples and a case study. The presentation is appropriate for a range of technical backgrounds. This text will be of interest to finance professionals as well as MBA and other graduate students in finance. * Provides the only exclusive treatment of cash flow valuation* Authors use examples and a case study to illustrate ideas* Presentation appropriate for a range of technical backgrounds: ideas are presented clearly, full exposition is also provided* Named among the Top 10 financial engineering titles by Financial Engineering News

Federal Tax Treatment of Capital Gains and Losses

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Publisher :
ISBN 13 :
Total Pages : 376 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Federal Tax Treatment of Capital Gains and Losses by : United States. Congress. House. Committee on Ways and Means

Download or read book Federal Tax Treatment of Capital Gains and Losses written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1984 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Macroeconomics: Canadian Edition Updated

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Publisher : Macmillan
ISBN 13 : 9780716759287
Total Pages : 642 pages
Book Rating : 4.7/5 (592 download)

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Book Synopsis Macroeconomics: Canadian Edition Updated by : N. Gregory Mankiw

Download or read book Macroeconomics: Canadian Edition Updated written by N. Gregory Mankiw and published by Macmillan. This book was released on 2003-08-12 with total page 642 pages. Available in PDF, EPUB and Kindle. Book excerpt: The #1 bestselling intermediate macroeconomics book, Mankiw's masterful text covers the field as accessibly and concisely as possible, in a way that emphasizes the relevance of both macroeconomics's classical roots and its current practice. Featuring the latest data, new case studies, and a number of significant content updates, the new Sixth Edition takes the Mankiw legacy even further.

Private Investment, Government Policy, and Foreign Capital in Zimbabwe

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4./5 ( download)

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Book Synopsis Private Investment, Government Policy, and Foreign Capital in Zimbabwe by : Mansoor Dailami

Download or read book Private Investment, Government Policy, and Foreign Capital in Zimbabwe written by Mansoor Dailami and published by World Bank Publications. This book was released on 1989 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policy measures to encourage recovery of private investment in Zimbabwe should focus not on measures to raise current profits but on measures to relief supply-side constraints, to reduce perceived risk, to clearly define the rules of the game for foreign investors, and to create a more favorable environment for investment decision making.

Corporate Finance

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Publisher : John Wiley & Sons
ISBN 13 : 0470683708
Total Pages : 971 pages
Book Rating : 4.4/5 (76 download)

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Book Synopsis Corporate Finance by : Peter Moles

Download or read book Corporate Finance written by Peter Moles and published by John Wiley & Sons. This book was released on 2011 with total page 971 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fundamentals of Corporate Finance helps students develop the intuition and analytical skills necessary to effectively apply financial tools in real-world decision-making situations. The authors provide a fully integrated framework for understanding how value creation relates to all aspects of corporate finance; whether it be evaluating an investment opportunity, determining the appropriate financing for a business, or managing working capital. This unique and integrated framework also provides robust coverage of problem solving and decision-making skills.

Reviving Private Investment in Developing Countries

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Publisher : Elsevier
ISBN 13 : 1483291340
Total Pages : 256 pages
Book Rating : 4.4/5 (832 download)

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Book Synopsis Reviving Private Investment in Developing Countries by : A. Chhibber

Download or read book Reviving Private Investment in Developing Countries written by A. Chhibber and published by Elsevier. This book was released on 2013-10-22 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of the research described in this volume is to examine the behavior of private domestic investment in a sample of seven developing economies: Chile, Colombia, Egypt, Indonesia, Morocco, Turkey, and Zimbabwe. The studies represent a first step toward understanding the investment process in developing countries and the scope for government policy to affect private capital formation. Such issues will become increasingly important in the future as more developing countries try to encourage private investment. Four key issues emerge in the analysis of the determinants of private investment and its role in adjustment programs in developing countries. The first is the impact of changes in the exchange rate; the second major concern is the existence of crowding out of private activity as a result of government borrowing in domestic financial markets through interest rates or quantity rationing. A third and related issue is whether government spending, particularly that on investment, "crowds in" or "crowds out" private capital formation. Fourth, the effects of uncertainty are important in determining the response of private agents to changes in the incentive structure.