Capital Investment and Valuation
McGraw Hill Professional, 2003 - Business & Economics - 558 pages
Takes you inside the fundamental question of how a corporation invests its capital and values its assets. This book introduces you to the subject's often-conflicting objectives and outlines ways in which you can satisfy those objectives, while ensuring that all areas of a corporation operate under one consistent set of financial rules.
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Chapter2 PRESENT VALUE AND THE OPPORTUNITY COST OF CAPITAL
Chapters HOW TO CALCULATE PRESENT VALUES
THE VALUE OF COMMON STOCKS
17 other sections not shown
after-tax arbitrage pricing theory asset pricing model average balance sheet bank beta bond bondholders book value borrowing calculate call option capital asset pricing capital budgeting capital investment capital markets capital structure Chapter common stock company's conglomerates cost of capital cost of equity debt ratio depreciation discount rate diversification dividends dollar earnings economic equivalent annual costs estimate example exercise price expected return Figure financial manager firm's forecasts formula free cash flow future growth income increase industry interest rate interest tax shields investors issue Journal of Finance LBOs less leverage loan market portfolio market risk market value merger million net present value operating opportunity cost payment payoff present value problem profits put option rate of return risk premium risk-free risky securities sell share price shareholders standard deviation stock price stockholders Suppose Table takeover tax rate theory valuation variable WACC worth