The capital budgeting decision: economic analysis of investment projects

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Macmillan, Jun 5, 1980 - Business & Economics - 544 pages
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Here in its ninth edition, this classic text returns to its roots as a clear and concise introduction to investment decision-making. In this edition, Bierman and Smidt have expanded the theme of adjusting for uncertainty and added a new chapter exploring the use of real options. Retaining the authority and reputation of previous editions, it now covers in depth several under-explored topics, including: distribution policy and capital budgeting; a firm investing in a second firm; investing in current assets. Easily understandable, and covering the essentials of capital budgeting, this book will help readers to make intelligent capital budgeting decisions for corporations of every type. Book jacket.

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Contents

Capital Budgeting
3
Illustrating the Measures of Investment
27
cash flow methods Internal rate of return
41
Copyright

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About the author (1980)

HAROLD BIERMAN Jr. has been a member of the Cornell faculty since 1956, and has taught at Louisiana State University, the University of Michigan, and the University of Chicago. He was a recipient of the annual Dow Jones Award from the American Assembly of Collegiate Schools of Business for outstanding contributions to collegiate business education. In 1985 Bierman served as a scholar-in-residence at the investment banking firm of Prudential-Bache and in 1990 he served as a Senior Academic Fellow at the Financial Accounting Standards Board. His industrial experience includes consulting with Corning Corporation, Eastman Kodak, Emerson Electric Co., IBM, AT&T, Anheuser-Busch, and Xerox Corp. Bierman is the author of twenty-six books, including Corporate Financial Strategy and Decision Making to Increase Shareholder Value (Wiley) and more than 160 journal articles.

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