The Evaluation of Investment Opportunities
Author : Arthur Joseph Walrath
Publisher :
Page : 116 pages
File Size : 27,11 MB
Release : 1968
Category : Investments
ISBN :
Author : Arthur Joseph Walrath
Publisher :
Page : 116 pages
File Size : 27,11 MB
Release : 1968
Category : Investments
ISBN :
Author : Arthur Joseph Walrath
Publisher :
Page : 112 pages
File Size : 19,75 MB
Release : 1977
Category : Agriculture
ISBN :
Set includes revised editions of some issues.
Author :
Publisher :
Page : 115 pages
File Size : 15,85 MB
Release : 2005
Category :
ISBN :
Author : A.J. Walrath
Publisher :
Page : 102 pages
File Size : 19,15 MB
Release : 1977
Category :
ISBN :
Business managers, including farmers, constantly face alternative uses of their resources. in evaluating these uses, they must be concerned with the various costs and returns involved. these costs and returns frequently occur at different times. a dollar to be received in the future will not have the same value as a dollar today. the decisionmaker must compare these costs and returns even though they have different values. this report discusses mathematical procedures for comparing incomes and costs occurring at different times.
Author : Arthur J. Walrath
Publisher :
Page : 58 pages
File Size : 38,54 MB
Release : 1968
Category : Investments
ISBN :
Author : Arthur Joseph Walrath
Publisher :
Page : 66 pages
File Size : 43,89 MB
Release : 1968
Category : Investments
ISBN :
Author : Sheridan Titman
Publisher : Addison Wesley Longman
Page : 556 pages
File Size : 20,79 MB
Release : 2008
Category : Corporations
ISBN : 9780321336095
"Valuation: The Art and Science of Making Corporate Investment Decisions" is the first textbook to offer an integrated approach to both project and enterprise valuation. The text goes beyond standard DCF analysis by including additional valuation methods commonly used in practice, such as comparables, simulations, and real options. Overview of Evaluation. Project Analysis Using Discounted Cash Flow (DCF): Forecasting and Valuing Cash Flows; Project Risk Analysis. Cost of Capital: Estimating a Firm's Cost of Capital; Estimating Required Rates of Return for Projects. Enterprise Valuation: Relative Valuation Using Market Comparables; Enterprise Valuation; Valuation in a Private Equity Setting; Earnings Dilution, Incentive Compensation, and Project Selection. Futures, Options, and the Valuation of Real Investments: Using Futures and Contractual Options to Value Real Investments; Managerial Flexibility and Project Valuation: Real Options; Strategic Options: Evaluating Strategic Opportunities. For all readers interested in project and enterprise valuation.
Author : Marc Zajicek
Publisher : diplom.de
Page : 78 pages
File Size : 16,2 MB
Release : 2004-01-06
Category : Business & Economics
ISBN : 3832475753
Inhaltsangabe:Abstract: The objective of this dissertation is to examine the application of Real Options for the evaluation of companies with regard to acquisitions. There has been an intensive scientific discussion in the past years about the Real Options method for the evaluation of investments and mergers & acquisitions as in practice usually the management tries to capture future developments with static methods of capital budgeting. For example, future cash-flows are discounted with a fixed risk-adjusted discount rate. Therefore, the Real Options approach has been applied very rarely as it has the reputation of high complexity and poor practicability in daily business. However, the use of present values and capitalized values may produce pitfalls in acquisition decisions as strategic investment decisions might be characterized by a wide range of possibilities to react flexibly to a fast changing environment. In chapter 1, the term Mergers & Acquisitions (M&A) is defined and the motives as well as the relevance of M&A transactions for different branches are described in detail. Furthermore, the process and the different phases of a merger or an acquisition are explained. Chapter 2 presents traditional evaluation methods of static net present value, sensitivity analysis, Monte Carlo and decision tree. These classic methods are discussed and a comparison is drawn among these techniques in regard to practicability. At the end of this chapter, a evaluation is presented in regard to specific situations with the mayor parameter of uncertainty and flexibility for the application of these classic methods. The basic concept of option pricing is described in chapter 3. In addition, the Black-Scholes equation and the underlying assumptions are explained in detail in order to understand financial options, which are the basic for the Real Options approach. At the end of the chapter, an example of a call and put option is discussed in order to understand the functioning of options. Chapter 4 presents an introduction and definition of the Real Options method. Furthermore, the value drivers and the value creation due to the application of Real Options are discussed and analyzed in detail. After the discussion of the functioning of Real Options, a comparison of the analogy between financial Options and Real Options is done in order to possible differences. In this context, the limitations of the analogy of financial and Real Options are presented. Finally, [...]
Author : Donald S. Willett
Publisher :
Page : 54 pages
File Size : 13,56 MB
Release : 1972
Category :
ISBN :
Author : Sheridan Titman
Publisher : Pearson Education India
Page : 592 pages
File Size : 24,81 MB
Release : 2011
Category : Corporatious
ISBN : 9788131725832