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The Treatment of Uncertainty and Risk in Investment Returns
The Specific Cost of Capital
2 other sections not shown
accepted analysis approximation assume average rate calculated capital budgeting capital sources capital structure Cash Inflow Pattern cash outlays chapter coefficient of variation common stock computed consider constant conversion cost of capital cost of debt debt capital debt-equity ratio decision criterion earnings on equity equation evaluated example expected cash inflow expected rate expected value expression firm funds growth stock inflow per period integer programming integration internal rate investment projects level of assets maximize measure of risk negative cash inflows objective function optimization outcome payback period polynomial possible cash inflow preferred stock present value formula present value method present value tables probability density function problem purchase of 100 rate of earnings rate of return rectangular distribution reinvested return on assets risk due risk measure second derivative selection simple solution specific costs standard deviation stockholders Suppose tion total earnings total return variability of cash vector yield