cost of capital



Richard A. Brealey Cost of Capital. Applications and Examples Richard A. Brealey Cost of Capital. Applications and Examples Новинка

Richard A. Brealey Cost of Capital. Applications and Examples

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A one-stop shop for background and current thinking on the development and uses of rates of return on capital Completely revised for this highly anticipated fifth edition, Cost of Capital contains expanded materials on estimating the basic building blocks of the cost of equity capital, the risk-free rate, and equity risk premium. There is also discussion of the volatility created by the financial crisis in 2008, the subsequent recession and uncertain recovery, and how those events have fundamentally changed how we need to interpret the inputs to the models we use to develop these estimates. The book includes new case studies providing comprehensive discussion of cost of capital estimates for valuing a business and damages calculations for small and medium-sized businesses, cross-referenced to the chapters covering the theory and data. Addresses equity risk premium and the risk-free rate, including the impact of Federal Reserve actions Explores how to use Morningstar's Ibbotson and Duff Phelps Risk Premium Report data Discusses the global cost of capital estimation, including a new size study of European countries Cost of Capital, Fifth Edition puts an emphasis on practical application. To that end, this updated edition provides readers with exclusive access to a companion website filled with supplementary materials, allowing you to continue to learn in a hands-on fashion long after closing the book.
Andreas Zweifel An Investigation of the Causal Effect of Voluntary Disclosure Quality on Cost of Equity Capital Andreas Zweifel An Investigation of the Causal Effect of Voluntary Disclosure Quality on Cost of Equity Capital Новинка

Andreas Zweifel An Investigation of the Causal Effect of Voluntary Disclosure Quality on Cost of Equity Capital

Master's Thesis from the year 2012 in the subject Economics - Finance, grade: 5.5, University of Zurich (Department of Banking and Finance), course: Economics and Finance, language: English, abstract: Does voluntary disclosure quality pay off? And if so, what are the driving forces behind the relationship of voluntary disclosure quality and the cost of equity capital? This study addresses these and other questions in the context of analyzing the determinants of the cost of equity capital for Swiss firms. The relation between voluntary disclosure quality and cost of equity capital is widely known to be affected by self-selection. Potential endogeneity bias is controlled for by adopting a two-stage least squares approach in a cross-sectional setting. Voluntary disclosure quality is proxied by the annual reports disclosure scores for a well-diversified sample of Swiss firms as developed by the Department of Banking and Finance of the University of Zurich. Further, an ex-ante cost of capital metric derived from the dividend discount model is used in this study. Empirical evidence shows that the association between voluntary disclosure quality and cost of equity differs with a firm's stock listing history. While the relation is predicted to be negative for firms at the IPO stage, it is likely reversed at some point in a firm's stock listing history. These results suggest that analysts' information processing activities negatively moderate the impact of voluntary di...
Rajagopalan Sudha, Venkatakrishnan Santhi Working Capital Management Rajagopalan Sudha, Venkatakrishnan Santhi Working Capital Management Новинка

Rajagopalan Sudha, Venkatakrishnan Santhi Working Capital Management

Working capital, in general practice, refers to the excess of current assets over current liabilities. Working capital is meant to support the day to day normal operations of an enterprise. This working capital generates the important elements of cost viz., material, wages and expenses. This cost usually leads to production and sales in case of manufacturing concern and sales alone in case of others. One of the distinguishing features of the fund employed as working capital is that it constantly changes its form to drive the business wheel. It is also known as circulating capital which means current assets of a company that are changed in the ordinary course of business from one form to another form. Management of working capital therefore, is concerned with the problems that arise in attempting to manage the current assets, the current liabilities and the inter- relationship that exists between them. The basic goal of working capital management is to manage the current assets and current liabilities of a firm in such away that satisfactory level of working capital is maintained.
Al-Qudah Anas, Al-Afeef Mohammad, Matar Ali Special Topics in Financial Management Al-Qudah Anas, Al-Afeef Mohammad, Matar Ali Special Topics in Financial Management Новинка

Al-Qudah Anas, Al-Afeef Mohammad, Matar Ali Special Topics in Financial Management

This Book will discuss how to value businesses in Marketplace like the importance of business valuation and shows how to adapt the model to bonds, preferred stock, common stock, Risk & Return, CAPM and Portfolios. And This book discuss Capital structure as a part of all kinds of business activities, which are decided by the size, and nature of the business concern. Capital may be raised with the help of various sources. Adding the theories of Capital structure and the Cost of Capital.
Junaid Javaid Raising Capital Cost Of Issuing Securities Junaid Javaid Raising Capital Cost Of Issuing Securities Новинка

Junaid Javaid Raising Capital Cost Of Issuing Securities

Seminar paper from the year 2013 in the subject Business economics - Investment and Finance, grade: B-, University of Bedfordshire, course: MSc FINANCE & BUSINESS MANAGEMENT, language: English, abstract: The central focus of this research project is to guide the relatively medium sized car dealership company towards making decision on the appropriate security financing option so that it would permit the given company to expand its operation while minimises its cost and maximises its profitability. In general there are three types of security financing (Equity Securities, Debt Securities and Asset-Backed Securities). Security Financing is also considers being a good financing source which involves the issuance of securities either in the stock market or in the capital market. In general, the companies' financial decision subject to the composition of its Capital Structure. The Capital Structure is made up of two factors: debt & equity. The trade-off theory was originated out of debate over the Modigiliani Miller theorem. The term trade-off theories was been used by different authors to state different group or similar related theories. The static trade-off theory confirms that the firm has perfect capital structure which they gain by trading off cost from the benefits of the use of equity and debt. The dynamic trade-off theory relates to the role of profit, role of retained earnings and path dependence. The concept of agency theory is emphasised more on the approac...
Julia Katharina Jansen The Financial Cost of Capital Punishment in the United States of America Julia Katharina Jansen The Financial Cost of Capital Punishment in the United States of America Новинка

Julia Katharina Jansen The Financial Cost of Capital Punishment in the United States of America

Bachelor Thesis from the year 2011 in the subject Business economics - Law, grade: 1,0, Berlin School of Economics and Law, language: English, abstract: Awareness surrounding the financial burden of capital punishment is increasing and slowly beginning to permeate the American Society. However, not enough light has been shed on the sources that are causing the financial devastation. The death-is-different legal doctrine in the United States grants procedural protection that is unique for capital litigation providing individual consideration for each case. The paper investigates the price increase by capitally adjudicating a case compared to a non-capital litigation. Looking at the economic side of the impact of legal statutes should contribute to the discussion about choosing alternative punishments, such as life incarceration without the possibility of parole, and the systems' improvement prospects or the lack thereof. In the aftermath of a severe economic crisis and with ongoing financial solvency crises of interdependent nations, cost cutting considerations become all the more essential. Further, it is "Time to consider whether maintaining the costly death penalty system is being smart on crime" by briefly looking into where the money could be invested instead in order to achieve an equivalent effect. In short, the paper aims at ascertaining the financial cost of capital punishment and how the discoveries can impact jurisprudence. The central questions are the ...
Frans Weert de Bank and Insurance Capital Management Frans Weert de Bank and Insurance Capital Management Новинка

Frans Weert de Bank and Insurance Capital Management

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In the aftermath of the financial crisis, capital management has become a critical factor in value creation for banks and other financial institutions. Although complex and subject to regulatory change, the strategic importance of capital management became apparent during the crisis and has moved the subject to the top of corporate agendas. Bank and Insurance Capital Management is an essential guide to help banks and insurance companies understand and manage their capital position. Bridging the gap between theory and practice, it provides proven techniques for managing bank capital, as well as explaining key capital management perspectives, including accounting, regulatory, risk and capital management and corporate finance. It also shows how to analyze a firm's stakeholders such as depositors, policy holders, debt holders and shareholders, and manage their expectations, and how to align risk and capital management so as to best optimize the return on capital and preserve capital in periods of stress. Economic capital is also discussed in depth, as are the practicalities of bank and insurance M&A, and the book also shows how financial innovations can be used to optimise the capital position and how diversification effects are reflected in the capital position. This book will arm readers with the knowledge and skills needed to understand how capital management can improve capital structure and performance, achieving an optimal cost of, and return on capital, creating value as a result.
Grabowski Roger J. Cost of Capital. Workbook and Technical Supplement Grabowski Roger J. Cost of Capital. Workbook and Technical Supplement Новинка

Grabowski Roger J. Cost of Capital. Workbook and Technical Supplement

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Praise for Fourth Edition of Cost of Capital Workbook and Technical Supplement "Pratt and Grabowski went the extra mile to supplement their magnum opus by providing this Workbook and Technical Supplement. As a finance professor for many years, I know from experience that students and teachers really value supplements to textbooks. It allows the teacher to help the student to review and apply what was presented in the text, and the PowerPoints are a great service to teachers in course preparation. The website provides various worksheets that show the inner workings of the models. I enthusiastically recommend the Workbook and Technical Supplement to finance professors and teachers and their students. —Daniel L. McConaughy, PhD, ASA, Professor of Finance, California State University, Northridge, Valuation Services, Crowe Horwath LLP «The Workbook and Technical Supplement provides a detailed tutorial on understanding and executing the theoretical concepts explained in the Fourth Edition. This supplement is three books in one. Part One is a step-by-step tutorial on estimating certain key components of the cost of equity capital. Part Two provides a bridge between the theory and some practical applications, such as estimating the cost of capital for real property. Parts Three and Four allow the readers to test their comprehension of the concepts and identify areas for a review. It is almost as good as having Professors Pratt and Grabowski looking over your shoulder to ensure that one is both comprehending and correctly implementing the complex concepts..» —Ashok Abbott, PhD, Associate Professor of Finance, College of Business & Economics, West Virginia University «This text provides the most comprehensive coverage of cost of capital issues that I have seen to date. Messrs. Pratt and Grabowski have created a very accessible and lucid treatment of what most would consider an opaque subject. The Fourth Edition is especially important for its new topics as well as expanded coverage of concepts from earlier editions. Of particular interest is the review of the extreme market conditions during the 2008–2009 crisis and the effect that the unprecedented volatility had on traditional cost of capital models. For years, Pratt and Grabowski's research has informed the business valuation curriculum of the American Society of Appraisers. This book will be added to our reading list, and thousands of students worldwide will benefit from the state?of?the?art content of the Fourth Edition and the companion Workbook and Technical Supplement. Furthermore, Cost of Capital, Fourth Edition should be a mandatory part of every valuation practitioner's library. If you buy this book, you can expect it to become well worn and remain on your desk within arm's length until the publication of the Fifth Edition.» —John Barton, ASA, CPA, Chairman, Business Valuation Committee, ASA «Cost of capital is so much more complex than it used to be. With so many additional considerations regarding each variable of the cost of capital formula, this book is a must for anyone that needs to understand or develop a discount rate. Even the most experienced practitioner will benefit from the outstanding work of Pratt and Grabowski. This book has to become part of your library.» —Gary R. Trugman, CPA/ABV, MCBA, ASA, MVS, President, Trugman Valuation Associates, Inc.
Thomas O'Brien Applied International Finance II, Second Edition. International Cost of Capital and Capital Budgeting Thomas O'Brien Applied International Finance II, Second Edition. International Cost of Capital and Capital Budgeting Новинка

Thomas O'Brien Applied International Finance II, Second Edition. International Cost of Capital and Capital Budgeting

This volume is the second of a three-volume set designed for use in a course in applied international corporate finance for managers and executives. This volume's issue is how uncertain foreign exchange (FX) rate changes affect a firm's ongoing cash flows and equity value, and what can be done in terms of hedging this risk using financial instruments. The accounting implications are also considered. Numerous examples of real-world companies are used. The volume contains a hypothetical case that ties the material together. The first volume reviews some basics of FX rates: Introduction to Foreign Exchange Rates, 2nd edition, Business Expert Press, 2016. The third volume deals with the estimation of the cost of capital for international operations and the evaluation of overseas investment proposals: Applied International Finance II: International Cost of Capital and Capital Budgeting, 2nd edition, Business Expert Press, 2017.
Noureddine Krichene Islamic Capital Markets. Theory and Practice Noureddine Krichene Islamic Capital Markets. Theory and Practice Новинка

Noureddine Krichene Islamic Capital Markets. Theory and Practice

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A comprehensive look at the essentials of Islamic capital markets Bringing together theoretical and practical aspects of capital markets, Islamic Capital Markets offers readers a comprehensive insight into the institutions, instruments, and regulatory framework that comprise Islamic capital markets. Also exploring ideas about money, central banking, and economic growth theory and their role in Islamic capital markets, the book provides students and practitioners with essential information about the analytical tools of Islamic capital markets, serves as a guide to investing in Islamic assets, and examines risk management and the structure of Islamic financial products. Author and Islamic finance expert Noureddine Krichene examines the development of leading Islamic capital markets, including Malaysia, looking at sukuks and stocks in detail and emphasizing valuation, duration, convexity, immunization, yield curves, forward rates, swaps, and risks. Analyzing stock markets, stock valuation, price-earnings ratio, market efficiency hypothesis, and equity premiums, the book addresses uncertainty in capital markets, portfolio diversification theory, risk-return trade-off, pricing of assets, cost of capital, derivatives and their role in hedging and speculation, the principle of arbitrage and replication, Islamic structured products, the financing of large projects, and more. Emphasizes both theoretical and practical aspects of capital markets, covering analytical concepts such as the theory of arbitrage, pricing of assets, capital market pricing model, Arrow-Debreu state prices, risk-neutral pricing, derivatives markets, hedging and risk management, and structured products Provides students and practitioners of finance with must-have information about the analytical tools employed in Islamic capital markets Examines all the most recent developments in major Islamic capital markets, including Malaysia Discussing the advantages of Islamic capital markets and the prospects for their development, Islamic Capital Markets gives readers a fundamental grounding in the subject, with an emphasis on financial theory and real world practice.
Marci Thomas S. Financial Management of Health Care Organizations. An Introduction to Fundamental Tools, Concepts and Applications Marci Thomas S. Financial Management of Health Care Organizations. An Introduction to Fundamental Tools, Concepts and Applications Новинка

Marci Thomas S. Financial Management of Health Care Organizations. An Introduction to Fundamental Tools, Concepts and Applications

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This new Fourth Edition of Financial Management of Health Care Organizations, offers an introduction to the most-used tools and techniques of health care financial management, including health care accounting and financial statements; managing cash, billings and collections; making major capital investments; determining cost and using cost information in decision-making; budgeting and performance measurement; and pricing. New to this edition: The Perspectives sections and the glossary have been updated. The book features a cutting-edge view of the health care landscape in 2013 and beyond after passage and pending implementation of the Affordable Care Act. Areas of expanded content include revised examples of financial statements for both private non-profit hospitals and investor-owned hospital management companies, changes in bad debt and charity care, the role of financial statements, the discount rate or cost of capital, lease financing section, use of cost information, budgeting, cost centers, and current forms of reimbursement Content new to this edition includes valuation of accounts receivable and the «waterfall» effect of cash collections, differences between Posting-Date and Service-Date reporting methodologies, calculation of effective annual interest rate, application of time value of money in perspectives, and Activity-Based Costing from the perspective of labor, supplies, and equipment.
Gerald S. Martin Capital Structure and Corporate Financing Decisions. Theory, Evidence, and Practice Gerald S. Martin Capital Structure and Corporate Financing Decisions. Theory, Evidence, and Practice Новинка

Gerald S. Martin Capital Structure and Corporate Financing Decisions. Theory, Evidence, and Practice

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A comprehensive guide to making better capital structure and corporate financing decisions in today's dynamic business environment Given the dramatic changes that have recently occurred in the economy, the topic of capital structure and corporate financing decisions is critically important. The fact is that firms need to constantly revisit their portfolio of debt, equity, and hybrid securities to finance assets, operations, and future growth. Capital Structure and Corporate Financing Decisions provides an in-depth examination of critical capital structure topics, including discussions of basic capital structure components, key theories and practices, and practical application in an increasingly complex corporate world. Throughout, the book emphasizes how a sound capital structure simultaneously minimizes the firm's cost of capital and maximizes the value to shareholders. Offers a strategic focus that allows you to understand how financing decisions relates to a firm's overall corporate policy Consists of contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Contains information from survey research describing actual financial practices of firms This valuable resource takes a practical approach to capital structure by discussing why various theories make sense and how firms use them to solve problems and create wealth. In the wake of the recent financial crisis, the insights found here are essential to excelling in today's volatile business environment.
Hauke Hansen CAPEX Excellence. Optimizing Fixed Asset Investments Hauke Hansen CAPEX Excellence. Optimizing Fixed Asset Investments Новинка

Hauke Hansen CAPEX Excellence. Optimizing Fixed Asset Investments

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Much of current management literature focuses on a limited set of 'classical' value levers, such as cost reduction, sales optimization or mergers & acquisitions, thus neglecting another core value lever: capital investments. That capital investments receive such limited attention is all the more surprising when one considers how vitally important they are to the economy as a whole as well as individual businesses. There is significant value-creation potential in optimizing capital investments. Investments not only determine the asset structure of a venture. They also enable the introduction of new products structural cost reductions. The book focuses on core questions to be answered in the critical design and realization phase of new investments: Right positioning – does the competitive situation allow the investment to be successful Right technology – how to optimize timing and risks of technology innovations Right timing – how to cope with economic cycles Right size – how to identify the optimum size of an asset Right location – how to find the best location for an asset Right design – how to make investments lean and flexible Right financing – how to structure the investment financing The book features an introductory section that provides an overview of investments across the globe, across industries and across time provides practical advice on how to allocate capital to several projects within a company’s investment portfolio. Optimising Fixed Asset Investment is illustrated with real world examples from a range of industries. This book is essential reading for managers faced with challenges of making individual or portfolio capital investment decisions and who are responsible for managing these capital assets over their entire asset lifecycle. The ideas put forward within the book will help to sharpen the focus of management on the impact capital investments have on the well-being and growth of their companies. Optimizing Fixed Asset Investments is a strategic manual for everyone involved or interested in large fixed-capital investments.
Mark Ngari James Intellectual Capital Accounting and Business Performance Mark Ngari James Intellectual Capital Accounting and Business Performance Новинка

Mark Ngari James Intellectual Capital Accounting and Business Performance

From Human Resource Point of view, Intellectual Capital is an Investment in the organization and it is perceived to be strategic resource and a source of competitive advantage and therefore not indicated on the statement of the financial position of the firm. Intellectual Capital in conventional accounting is indicated as a cost rather than an investment. The purpose of this book is to show the relationship between Intellectual Capital Accounting and Business Performance of Pharmaceutical Firms in Kenya and why these firms do not account for human resources as competitive and strategic assets which offer firms a competitive advantage.
Petru Ciocoiu Schooling, Earnings and Employment in the Labour Market for Conductors Petru Ciocoiu Schooling, Earnings and Employment in the Labour Market for Conductors Новинка

Petru Ciocoiu Schooling, Earnings and Employment in the Labour Market for Conductors

Traditionally, schooling has been considered by cultural economists as a way of investing in human capital, therefore subject to cost-benefit analysis. However, due to the specificity of artists' labour market, it was found that human capital applies only weakly to artists' decisions of investing in formal education, mainly because of the role played by innate ability and the fact that the informal way of improving skills is still prevalent. Therefore, it was hypothesized that schooling has rather more social capital features than human capital. In this respect, when schooling was operationalized conforming to the two functions of social capital, reproducing some of the social structure and facilitating the accomplishments of conductors' goals, it was found to have significant effects over their earnings and employment status. This finding indicates that social capital can be translated into economic terms and therefore is subject to investment and accountability of its rates of return. Moreover, due to its embeddedness in social networks and capacity to providing access to resources, the social capital perspective raises equity issues.
Bianca Ahrens Capital Market Implications of Earnings Quality Bianca Ahrens Capital Market Implications of Earnings Quality Новинка

Bianca Ahrens Capital Market Implications of Earnings Quality

In his speech from 1998 the former chairman of the United States Securities and Exchange Commission (SEC) Arthur Levitt pointed out that trust "is the bedrock of our capital markets" and that this must not be shaken by the erosion of earnings quality. He made clear that it is the challenge of the whole financial community to counteract such a development.This thesis deals with the question whether the importance of earnings for the capital market varies with its quality. The question arises, because in recent years a large number of firm scandals has shaken the trust in the reliability of reported earnings.In order to properly address the research questions, the literature on earnings quality definitions, quality measures as well as implications of earnings quality on capital markets is reviewed and critically discussed.The author investigates whether well known results concerning capital market implications of earnings quality remain stable for all measures considered. She answers the question of how earnings quality affects firm value, cost of equity capital, and the accuracy of analysts' forecasts taking into account the effects of determinants of earnings quality.
Christian Weidinger Target leverage and capital structure adjustment speed across German industries Christian Weidinger Target leverage and capital structure adjustment speed across German industries Новинка

Christian Weidinger Target leverage and capital structure adjustment speed across German industries

Seminar paper from the year 2010 in the subject Economics - Finance, grade: 1.3, University of Regensburg, language: English, abstract: Since Modigliani/Miller's famous theorem (1958) that capital structure is irrelevant for firm valuation, firms' capital structure choice has been one of the most significant subjects in the modern finance theory. The subsequent theoretical literature has found evidence to negate the irrelevance theorem. Most empirical studies applied a static framework and are capable to explain differences in the optimal leverage ratios across firms, using observed leverage ratios as proxies for the optimal target leverage, but do not explain observed differences in firms' leverage ratios itself. One broadly accepted reason for a firm's deviation from their target leverage ratio is the existence of adjustment costs. In the presence of adjustment costs, firms may deviate from their target leverage and find it not cost effective to adjust their leverage ratio frequently or fully within one period, even if they recognize that their existing capital structure is not optimal. This shows the need for developing and using a dynamic approach in order to examine firms' capital structure.The paper is organized as follows. Section 2 provides a brief overview of the three main theories of capital structure. Section 3 specifies the dynamic partial-adjustment model and describes the variables that may affect the target capital structure as well as the ...
Besim Burcin Yurtoglu Rates of Return on Corporate Investment. An International Comparison Besim Burcin Yurtoglu Rates of Return on Corporate Investment. An International Comparison Новинка

Besim Burcin Yurtoglu Rates of Return on Corporate Investment. An International Comparison

Inhaltsangabe:Abstract: In the 1980s many U.S. companies restructured. This was a reaction to the striking deterioration in the performance of 1970s. In the 1990s studies emerged making similar observations for the European companies (De Jong, 1995). Explanations for this poor performance often focus an the quality of corporate investment decisions. In particular, several authors (Marris, 1964; Mueller, 1972) suggested convincing theoretical arguments which were backed with empirical support (Baumol et al (1970), Grabowski and Mueller (1975), Shinnar et al (1989), and Mueller and Reardon (1993)) that managerial discretion was at the heart of this problem. This paper provides estimates of rates of return an investment using a newly developed efficient markets approach by D.C. Mueller and E. Reardon (1993). This technique relates a firm's investment performance relative to cost over a given period of time to the change in its market value. Making assumptions about efficiency of the capital markets and depreciation, it enables to infer a rate of return relative to the cost of funds which are used to finance investment. We present this measure of investment performance (c) for 2868 companies from 27 countries over the 1984--1994 period. Though estimates for the whole sample show a large fraction of firms earning returns to investment below the opportunity cost of capital for their owners over the last decade, individual countries and industries demonstrated considerable heter...
Frank Fabozzi J. Capital Budgeting. Theory and Practice Frank Fabozzi J. Capital Budgeting. Theory and Practice Новинка

Frank Fabozzi J. Capital Budgeting. Theory and Practice

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Capital investment decisions are a constant challenge to all levels of financial managers. Capital Budgeting: Theory and Practice shows you how to confront them using state-of-the-art techniques. Broken down into four comprehensive sections, Capital Budgeting: Theory and Practice explores and illustrates all aspects of the capital budgeting decision process. Pamela Peterson and Frank Fabozzi examine the critical issues and limitations of capital budgeting techniques with an in-depth analysis of: Classifying capital budgeting proposals Determining the relevant cash flows for capital budgeting proposals Assessing the economic value of a capital budgeting proposal using different techniques Incorporating risk into the capital budgeting decision Evaluating whether to lease or borrow-to-buy Capital Budgeting: Theory and Practice provides the knowledge, insight, and advice that will allow you to handle one of the most important aspects of your firm's financial management. Advanced enough for practitioners yet accessible enough for the novice, Capital Budgeting: Theory and Practice is your complete guide to understanding and benefiting from the essential techniques of capital budgeting.
Kenneth Boyd Cost Accounting For Dummies Kenneth Boyd Cost Accounting For Dummies Новинка

Kenneth Boyd Cost Accounting For Dummies

The easy way to get a grip on cost accounting Critical in supporting strategic business decisions and improving profitability, cost accounting is arguably one of the most important functions in the accounting field. For business students, cost accounting is a required course for those seeking an accounting degree and is a popular elective among other business majors. Cost Accounting For Dummies tracks to a typical cost accounting course and provides in-depth explanations and reviews of the essential concepts you'll encounter in your studies: how to define costs as direct materials, direct labor, fixed overhead, variable overhead, or period costs; how to use allocation methodology to assign costs to products and services; how to evaluate the need for capital expenditures; how to design a budget model that forecast changes in costs based on expected activity levels; and much more. Tracks to a typical cost accounting course Includes practical, real-world examples Walks you though homework problems with detailed, easy-to-understand answers If you're currently enrolled in a cost accounting course, this hands-on, friendly guide gives you everything you need to master this critical aspect of accounting.
Alexander Görke Value-based management at DAX-listed companies Alexander Görke Value-based management at DAX-listed companies Новинка

Alexander Görke Value-based management at DAX-listed companies

Bachelor Thesis from the year 2011 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, University of Applied Sciences Essen, language: English, abstract: 1.3 Scope of WorkThe thesis is divided into two main parts. In the first part, the theoretical background of value-based management is explained in detail. First, the reasons are pointed out why traditional key figures are not suitable to measure the corporate success and as a result, why value-based concepts are used. Subsequently, the methodologies for the determination of a company's cost of capital and for corporate valuation are presented in detail. The consideration of both the cost for equity capital and debt capital add the element of risk to determine the actual performance. This knowledge is the basis for multi-period value-based planning. Secondly, the most common approaches based on this theoretical background are introduced and elaborated. They integrate the key target of increasing the corporate value sustainably in the long term as a business philosophy which creates a holistic framework of action for the diverse tasks within a company.The second part brings to light, which companies of the thirty companies listed in the DAX are reporting a value-based management approach and further, which approaches these companies have implemented. As the parameters on which the calculation is based differ and are defined in different ways by the companies analyzed, these figures a...
Timo Köffer Basel III - Implications for banks. capital structure. What happens with hybrid capital instruments. Timo Köffer Basel III - Implications for banks. capital structure. What happens with hybrid capital instruments. Новинка

Timo Köffer Basel III - Implications for banks. capital structure. What happens with hybrid capital instruments.

This book attempts to answer the question of how CoCos differ from convertible bonds, and how these instruments are suitable for contributing as core capital under Basel III. The place ability of CoCos and the challenges resulting from their use are discussed in this book. Overall a comprehensive picture of the impacts resulting from the new capital definitions will be created. The Background to the introduction of Basel III is described at the beginning of the book, in addition to a presentation of the Basel III document and the new capital definitions. To create a kind of basic understanding of the functioning of convertible bonds and CoCos, hybrid capital will then be explained. In the following part of the book the design options of CoCos and different interests of investor groups are shown. Then the Commerzbank AG is analyzed by means of an analysis of how the capital components changed in Basel II through to Basel III over the last two years. The effect of Basel III on hybrid capital will be illustrated with a practical example. At the end of the book follows a short conclusion regarding the potential impact of Basel III on hybrid capital and the new capital instrument CoCos.
Working Capital Management Practices in Manufacturing Companies Working Capital Management Practices in Manufacturing Companies Новинка

Working Capital Management Practices in Manufacturing Companies

Working capital management plays an important role in any manufacturing company. One of the most significant areas in the day-to-day management of a company deals with working capital decision. Of all the financial decisions working capital decision is the vital one. It has been generally accepted that the profitability of a business firm depends to an enormous extent on the approach in which its working capital is controlled. Again, the sources of financing working capital play a very important role in maintaining liquidity and profitability of the firm. This study has emphasized mainly on the working capital planning and control practices in corporate firms of Bangladesh. This research work will help to find out the causes of poor working capital planning and control and contribute to the development of effective and pragmatic working capital planning and control for the better performance of the manufacturing industry. The findings and policy implication of this research work will be helpful to the planners and policy makers of the manufacturing industry in making and implementing working capital plans for the development of the industry.
DR MAHESH KULKARNI, DR SUHAS MAHAJAN BASIC COST ACCOUNTING DR MAHESH KULKARNI, DR SUHAS MAHAJAN BASIC COST ACCOUNTING Новинка

DR MAHESH KULKARNI, DR SUHAS MAHAJAN BASIC COST ACCOUNTING

1 Introduction 2 Elements of Cost & Cost Sheet 3 Overheads 4 Methods of Costing 5 Cost Audit AT A GLANCE Glossary /Objective Questions /Bibliography
Mulugeta Tefera Human Capital and Economic Growth in Ethiopia Mulugeta Tefera Human Capital and Economic Growth in Ethiopia Новинка

Mulugeta Tefera Human Capital and Economic Growth in Ethiopia

Thesis (M.A.) from the year 2014 in the subject Business economics - Operations Research, grade: Masters of Science, Wollega University (School of Economics), course: Development Economics, language: English, abstract: The topic of the research is Human Capital and Economic Growth of Ethiopia. The research answered questions such as "does human capital contribute to economic growth of Ethiopia?" with major objective to analyze the short run and long run effect of human capital on economic growth of Ethiopia over 1971 to 2013 using both ordinary least square (OLS) econometric and descriptive methods of data analysis. The data used for the research is secondary time series data collected by the National Bank of Ethiopia over the years 1971 to 2013. Nominal GDP is used as dependent and proxy variable for Economic growth while independent variables are physical capital, active labor force, terms of trade for measure of openness, government expenditure and human capital in the form of expenditure on health and education. Accordingly, the empirical finding shows that human capital in the form of education and health investment has consistent and significant long run effect on economic growth of Ethiopia at 5% level of significance. Keeping the other variables constant, 1% change (increase/decrease) in expenditure in human capital will change (increase/decrease) nominal output by 0.23%. In contrary short run human capital has consistent but insignificant effect on economic g...
Ralph Johann The free cash flow approach Ralph Johann The free cash flow approach Новинка

Ralph Johann The free cash flow approach

Seminar paper from the year 2005 in the subject Business economics - General, grade: 1.3, California State University, Fullerton, course: Theory of Corporate Finance, 21 entries in the bibliography, language: English, abstract: This paper will deal with the procedure and implementations of firm/stock valuation using FCF approach and WACC - the weighted average cost of capital. On the road, the different approaches and methods of firm valuation, the various inputs of WACC and the final procedure finding the fair market value of the firm using Pro Forma Financial Statements, will be discussed. In this valuation method the two main parts contributing to the final value of thefirm are Free Cash Flows (FCF) and the weighted average cost of capital. It is then used the time value of money concept along with some educated guesses about the long term sales growth rate and the long term WACC to apply common capital budgeting rules of project evaluation.Besides that, the paper will shortly discuss the influence of capital structure on a firm's value. It will come out that there is a difference in value whether the company is leveraged and uses debt or not. When it comes to the different inputs of the WACC, a main focus will be on the required rate of return for shareholders. Finding the 'right' beta and an appropriate estimate for the market risk premium are the main issues of that part. Therefore, the CAPM model and its specific determinants will be analyzed. Thereafter, t...
DR N M VECHALEKAR FINANCIAL MANAGEMENT DR N M VECHALEKAR FINANCIAL MANAGEMENT Новинка

DR N M VECHALEKAR FINANCIAL MANAGEMENT

1 Environment of Business Finance 2 Techniques of Financial Analysis 3 Capital Budgeting 4 Working Capital management 5 Capital Structure And Firm Valuation 6 Management of Profits (For PGDBM only) Multiple Choice Questions
Library of Congress, Federal Research Division Taiwan. A Country Profile Library of Congress, Federal Research Division Taiwan. A Country Profile Новинка

Library of Congress, Federal Research Division Taiwan. A Country Profile

Capital: The capital of central administration of Taiwan isTaipei (T'ai-pei-
Larrosa Juan MC Human and Social Capital in the Legal Profession Larrosa Juan MC Human and Social Capital in the Legal Profession Новинка

Larrosa Juan MC Human and Social Capital in the Legal Profession

Legal profession represents a key labor sector whether in politics or business in any developed or underdeveloped country. What resources do lawyers use for matching the demand to their own services' supply? Private sector lawyers make use of their level of human capital and their social capital for this to be accomplished. This book makes a literature survey focusing on legal profession and their relationships with these two capital dimensions. Particular interest is given to the relationship of these capital forms and the effectiveness of professional performance.
Christian Schön Compensation models in Venture Capital Partnerships Christian Schön Compensation models in Venture Capital Partnerships Новинка

Christian Schön Compensation models in Venture Capital Partnerships

Inhaltsangabe:Abstract:Private Equity and Venture Capital have become an important factor in corporate finance and has returned high profits to investors and fund managers. This papers gives an overview of the structure of venture capital partnerships and their sources of income - specifically management fees and carried interest. A venture capital fund model explains the financial in- and outflows over the lifetime of a venture capital fund and the distribution to general and limited partners and the management.Inhaltsverzeichnis:Table of Contents:1.Introduction22.Overview of worldwide venture capital markets42.1Long term development52.2Key drivers for the Development63.Performance of Venture Capital Funds83.1Dependence on vintage year93.2Latest developments and outlook104.Venture Capital Partnerships134.1The Structure of Venture Capital Backed Investments144.2Sources of income for VC-management companies154.3Why Is Carried Interest So Important in Private Equity?165.Income model for the management company186.Discussion of the impact of different compensation principles216.1Management Fees216.2Carried Interest236.3Total compensation of general partners257.How the management does participate278.Conclusions and new trends309.References3310.Glossary34
Juan Ramirez Handbook of Basel III Capital. Enhancing Bank Capital in Practice Juan Ramirez Handbook of Basel III Capital. Enhancing Bank Capital in Practice Новинка

Juan Ramirez Handbook of Basel III Capital. Enhancing Bank Capital in Practice

6717.84 руб. или Купить в рассрочку!
A deeper examination of Basel III for more effective capital enhancement The Handbook of Basel III Capital – Enhancing Bank Capital in Practice delves deep into the principles underpinning the capital dimension of Basel III to provide a more advanced understanding of real-world implementation. Going beyond the simple overview or model, this book merges theory with practice to help practitioners work more effectively within the regulatory framework, and utilise the complex rules to more effectively allocate and enhance capital. A European perspective covers the CRD IV directive and associated guidance, but practitioners across all jurisdictions will find value in the strategic approach to decisions surrounding business lines and assets; an emphasis on analysis urges banks to shed unattractive positions and channel capital toward opportunities that actually fit their risk and return profile. Real-world cases demonstrate successful capital initiatives as models for implementation, and in-depth guidance on Basel III rules equips practitioners to more effectively utilise this complex regulatory treatment. The specifics of Basel III implementation vary, but the underlying principles are effective around the world. This book expands upon existing guidance to provide a deeper working knowledge of Basel III utility, and the insight to use it effectively. Improve asset quality and risk and return profiles Adopt a strategic approach to capital allocation Compare Basel III implementation varies across jurisdictions Examine successful capital enhancement initiatives from around the world There is a popular misconception about Basel III being extremely conservative and a deterrent to investors seeking attractive returns. In reality, Basel III presents both the opportunity and a framework for banks to improve their assets and enhance overall capital – the key factor is a true, comprehensive understanding of the regulatory mechanisms. The Handbook of Basel III Capital – Enhancing Bank Capital in Practice provides advanced guidance for advanced practitioners, and real-world implementation insight.
Nicole Gravagna Venture Capital For Dummies Nicole Gravagna Venture Capital For Dummies Новинка

Nicole Gravagna Venture Capital For Dummies

Secure venture capital? Easy. Getting a business up and running or pushing a brilliant product to the marketplace requires capital. For many entrepreneurs, a lack of start-up capital can be the single biggest roadblock to their dreams of success and fortune. Venture Capital For Dummies takes entrepreneurs step by step through the process of finding and securing venture capital for their own projects. Find and secure venture capital for your business Get your business up and running Push a product to the marketplace If you're an entrepreneur looking for hands-on guidance on how to secure capital for your business, the information in Venture Capital For Dummies gives you the edge you need to succeed.
Philip English Capital Budgeting Valuation. Financial Analysis for Today's Investment Projects Philip English Capital Budgeting Valuation. Financial Analysis for Today's Investment Projects Новинка

Philip English Capital Budgeting Valuation. Financial Analysis for Today's Investment Projects

6078.04 руб. или Купить в рассрочку!
An essential guide to valuation techniques and financial analysis With the collapse of the economy and financial systems, many institutions are reevaluating what they are willing to spend money on. Project valuation is key to both cost effectiveness measures and shareholder value. The purpose of this book is to provide a comprehensive examination of critical capital budgeting topics. Coverage extends from discussing basic concepts, principles, and techniques to their application to increasingly complex, real-world situations. Throughout, the book emphasizes how financially sound capital budgeting facilitates the process of value creation and discusses why various theories make sense and how firms can use them to solve problems and create wealth. Offers a strategic focus on the application of various techniques and approaches related to a firm's overall strategy Provides coverage of international topics based on the premise that managers should view business from a global perspective Emphasizes the importance of using real options Comprised of contributed chapters from both experienced professionals and academics, Capital Budgeting Valuation offers a variety of perspectives and a rich interplay of ideas related to this important financial discipline.
Markus Bäder Quantitative and Qualitative Analysis of EasyJet.s Annual Report 2013 Markus Bäder Quantitative and Qualitative Analysis of EasyJet.s Annual Report 2013 Новинка

Markus Bäder Quantitative and Qualitative Analysis of EasyJet.s Annual Report 2013

Seminar paper from the year 2015 in the subject Business economics - Accounting and Taxes, grade: 1,0, University of Newcastle, language: English, abstract: Luton-based EasyJet is UK's largest low-cost airline, employing 8,945 people and carrying 61m passengers annually. EasyJet follows Porter's low-cost strategy, effectively distinguishing itself from other LCCs by competing against established flag-carriers at primary European airports. The company streamlines its operations to cost-reduction, facilitated by a strong capital structure.Europe's airline industry has experienced a structural change since the recession in 2009, with major legacy-carrier continuously reducing their short-haul-capacity. Simultaneously, a KPMG study revealed that the cost gap between traditional and budget airlines has recently shrunk by 30%.EasyJet's business model distinctly differs from LCC-pioneer Ryanair as the Irish have strategically built a route network focused on serving secondary airports and thereby managed to keep the cost per seat 50% below EasyJet. However the Britons cost-control strategy resulted in a 48% favourable cost base compared to competing legacycarrier such as IAG.
Sandeep Goel Capital Budgeting Sandeep Goel Capital Budgeting Новинка

Sandeep Goel Capital Budgeting

Capital budgeting is an important part of the financial management of a business organization. It is a process that business houses use to evaluate an investment proj-ect. The decision of whether to accept or deny an investment project is capital budgeting decision. Capital budgeting is important because it determines the long-term economic and nancial pro tability of any investment project. It lays down the future success of a business. Capital Budgeting aims to develop not only an understanding of the concepts of capital budgeting but also to provide its practical application to help students learn both theory and practice of capital budgeting used in the financial management of a business organization. It analyzes the capital budgeting practices of corporate enterprises in India in diverse sectors, on comparative basis, in order to provide the reader a better insight into the various issues and challenges regarding capital budgeting management.
Robert Slee T. Private Capital Markets. Valuation, Capitalization, and Transfer of Private Business Interests Robert Slee T. Private Capital Markets. Valuation, Capitalization, and Transfer of Private Business Interests Новинка

Robert Slee T. Private Capital Markets. Valuation, Capitalization, and Transfer of Private Business Interests

7293.65 руб. или Купить в рассрочку!
Praise for Private Capital Markets Valuation, Capitalization, and Transfer of Private Business Interests «In the years since publication of the first edition of Private Capital Markets, the concepts and ideas that it presents have been widely accepted by progressive members of the business valuation community. Now with the Second Edition, author Rob Slee has included empirical data on capital markets for midsized businesses. This book remains a must for everyone involved in appraising, buying, selling, or financing privately owned businesses.»—Raymond C. Miles, founder, The Institute of Business Appraisers «The Graziadio School of Business has used the Private Capital Markets book for several years with great success. This course, along with the Pepperdine Private Capital Markets Survey project, has helped our students better prepare for careers in middle market companies.»—Linda Livingstone, Dean of the Graziadio School of Business and Management,Pepperdine University «Our international association of independent M&A professionals recommends this text as the most comprehensive foundation for understanding the private capital marketplace. This book is essential reading for middle market M&A advisors, investors, and other decision-makers in the private capital markets.» —Mike Nall, founder, Alliance of M&A Advisors A practical road map for making sound investment and financing decisions based on real experiences and market needs Now fully revised and in a second edition, Private Capital Markets provides lawyers, accountants, bankers, estate planners, intermediaries, and other professionals with a workable framework for making sound investment and financing decisions based on their own needs and experiences. This landmark resource covers: Private business valuation Middle market capital sources The business ownership transfer spectrum And much more Private Capital Markets, Second Edition surveys the private capital markets and presents the proven guidance you need to navigate through these uncharted waters.
Robert Slee T. Private Capital Markets. Valuation, Capitalization, and Transfer of Private Business Interests Robert Slee T. Private Capital Markets. Valuation, Capitalization, and Transfer of Private Business Interests Новинка

Robert Slee T. Private Capital Markets. Valuation, Capitalization, and Transfer of Private Business Interests

7173.08 руб. или Купить в рассрочку!
Praise for Private Capital Markets Valuation, Capitalization, and Transfer of Private Business Interests «In the years since publication of the first edition of Private Capital Markets, the concepts and ideas that it presents have been widely accepted by progressive members of the business valuation community. Now with the Second Edition, author Rob Slee has included empirical data on capital markets for midsized businesses. This book remains a must for everyone involved in appraising, buying, selling, or financing privately owned businesses.»—Raymond C. Miles, founder, The Institute of Business Appraisers «The Graziadio School of Business has used the Private Capital Markets book for several years with great success. This course, along with the Pepperdine Private Capital Markets Survey project, has helped our students better prepare for careers in middle market companies.»—Linda Livingstone, Dean of the Graziadio School of Business and Management,Pepperdine University «Our international association of independent M&A professionals recommends this text as the most comprehensive foundation for understanding the private capital marketplace. This book is essential reading for middle market M&A advisors, investors, and other decision-makers in the private capital markets.» —Mike Nall, founder, Alliance of M&A Advisors A practical road map for making sound investment and financing decisions based on real experiences and market needs Now fully revised and in a second edition, Private Capital Markets provides lawyers, accountants, bankers, estate planners, intermediaries, and other professionals with a workable framework for making sound investment and financing decisions based on their own needs and experiences. This landmark resource covers: Private business valuation Middle market capital sources The business ownership transfer spectrum And much more Private Capital Markets, Second Edition surveys the private capital markets and presents the proven guidance you need to navigate through these uncharted waters.
Kirti Singh, Meena Ramjee Lal, Mandal Pankaj Kumar Role of Social Capital in Rural Livelihood Promotion Kirti Singh, Meena Ramjee Lal, Mandal Pankaj Kumar Role of Social Capital in Rural Livelihood Promotion Новинка

Kirti Singh, Meena Ramjee Lal, Mandal Pankaj Kumar Role of Social Capital in Rural Livelihood Promotion

This book is reflecting the general overview of rural development and at same time reflecting importance of various factors responsible for it, so in the context of development the role played by social capital is of great importance and among the rural people there is the need to utilize it. The research shows how the role played by social capital is vital for rural livelihood promotion. So the main focus of the book will be on rural livelihood's relation with social capital.
Dennis Schön The relevance of Discounted Cash Flow (DCF) and Economic Value Added (EVA) for the valuation of banks Dennis Schön The relevance of Discounted Cash Flow (DCF) and Economic Value Added (EVA) for the valuation of banks Новинка

Dennis Schön The relevance of Discounted Cash Flow (DCF) and Economic Value Added (EVA) for the valuation of banks

Bachelor Thesis from the year 2003 in the subject Business economics - Investment and Finance, grade: 1,3 (A), Northumbria University (Newcastle Business School), language: English, abstract: This study investigates the underlying theories and assumptions of two modern capital market-based valuation approaches, the Discounted-Cash-Flow (DCF) and the Economic-Value-Added (EVA) approach, which are nowadays applied principally for industrial and manufacturing firms. This general examination is then transferred into a more specific investigation exploring whether these valuation concepts can be applied to the strongly regulated and more specific field of bank valuation. A questionnaire addressing bank analysts was created to analyse this question.The project indicates that the ideas of shareholder value which have been enforced over the last decade have implemented the need for a more shareholder-focused valuation. The application of DCF is basically attributed to this movement. It is revealed that this concept uses cash flow streams which depict a more realistic picture of an organization's true earning power. Moreover, it employs a discount rate based on the capital market and thus reflecting the yield expectations of the investors.EVA, on the other hand is a relatively new concept, copyrighted in 1994 by Stern Stewart. It highlights an organization's true economic profits. The study examines its components NOPAT, Capital and Cost of Capital, establishes a relation to D...
Thomas J. O'Brien Applied International Finance. Managing Foreign Exchange Risk and International Capital Budgeting Thomas J. O'Brien Applied International Finance. Managing Foreign Exchange Risk and International Capital Budgeting Новинка

Thomas J. O'Brien Applied International Finance. Managing Foreign Exchange Risk and International Capital Budgeting

This text is designed for use in a course in an applied international corporate finance for managers and executives. Instead of the encyclopedic approach, the text focuses on the two main issues of interest to managers who deal with overseas operations. The first main issue is how uncertain foreign exchange (FX) rate changes affect a firm's ongoing cash flows and equity value, and what can be done about that risk. The second main issue is the estimation of the cost of capital for international operations and the evaluation of overseas investment proposals. Numerous examples of real world companies are used.
Donald Towey Cost Management of Construction Projects Donald Towey Cost Management of Construction Projects Новинка

Donald Towey Cost Management of Construction Projects

5738.18 руб. или Купить в рассрочку!
The cost manager/quantity surveyor plays a pivotal role in the financial and contract management of construction projects, although the exact nature of the service they provide depends on the project employer’s terms of engagement. This can mean acting as consultant in a range of roles including cost and advisory services for budget setting to initiate a project, cost management through the design and construction phases, contract administration and acting as the client side project manager to oversee the entire building process. Cost Management of Construction Projects focusses on the cost manager/quantity surveyor engaged by the project client, and discusses key elements that help drive project success including measurement (based on the New Rules of Measurement published by RICS), procurement, cost planning, contract administration and project cost management. With examples, it provides a thorough guide to the role in the workplace and in the field, directly addressing the day to day situations faced by the cost manager/quantity surveyor. Donald Towey MRICS has extensive experience of the construction industry. His experience began as an estimator with a glass/glazing contractor in Manchester. Following a number of positions with UK contractors he relocated to Australia and has worked with a number of developers and main contractors, as well as doing freelance work. He is currently working in contracts management in Sydney.
Nina Pohl International Capital Flows. Economic Problems and Policy Implications Nina Pohl International Capital Flows. Economic Problems and Policy Implications Новинка

Nina Pohl International Capital Flows. Economic Problems and Policy Implications

Inhaltsangabe:Abstract: This paper deals with three highly controversial aspects in the international finance literature: the degree of international financial integration, the economic impact of capital mobility, and the potential role of capital controls in the emerging international financial architecture. Regarding the first aspect, many observers have been influenced by the recent hype about “globalisation” and in fact take it for granted that capital markets have become almost fully integrated into a world financial marketplace. This paper, reviews evidence that challenges this conventional wisdom, though confirming that the degree of international financial integration is rising. With respect to the second aspect, it is demonstrated that there are circumstances under which the free flow of international capital could negatively impact upon economic performance and/or otherwise welfare-enhancing domestic policies. This finding conflicts with traditional theory and provides an economic rationale for the judicious introduction of capital controls. With this assertion in mind, the final aspect, the role of capital controls, is investigated. The specific question explored is how far restrictions on international capital flows are able to avert a costly economic imbalance arising from fluctuations in the balance of payments. Although the international consensus seems to have shifted in recent years towards promoting Chilean-style capital controls as a potential new building ...
Kristine Jermanova Legal capital regulation. which way for Latvia. Kristine Jermanova Legal capital regulation. which way for Latvia. Новинка

Kristine Jermanova Legal capital regulation. which way for Latvia.

The monograph examines European and Latvian legal capital rules relating to the formation and the maintenance of contributed share capital. However it does not consider the whole capital maintenance regulation but only the rules relating to capital formation und distribution to shareholders. The monograph gives an overview of current legal capital regulation at EU level and American legal capital rules. It argues whether the current European and particularly Latvian legal capital rules can be understood as an efficient legal instrument for balancing the shareholder-creditor conflict. As concerns the current Latvian legal capital regulation, the monograph asks whether and how it could be improved, taking into consideration the developments and debates taking place throughout Europe.
Goswami Rachana, Jain Ruby Handlooms in Early 21 century Goswami Rachana, Jain Ruby Handlooms in Early 21 century Новинка

Goswami Rachana, Jain Ruby Handlooms in Early 21 century

Handloom is a cost-effective mode of textile production, primarily because of its low capital cost,environmental and social advantages of dispersed production. Handloom constitutes an important part of the non formal sector in the state of Rajasthan economy. Jaipur being the capital city the nodal agencies for implementing government programmes in the entire state are situated here. The next metro city after Delhi,Mumbai and Calcutta Jaipur has great potential for marketing and export of handloom products but the sales of handloom organizations were coming down recurrently.The official staff of one of the handloom organizations didn't received their salaries for more than a year. This provoked the authors to do the situational analysis of handloom industry. It would help to identify the weakness and strength of the industry, and to work out certain strategies to build on the opportunities in this sector.Based on primary & secondary data and extensive fieldwork, this book provides a detailed picture of the handloom sector in Rajasthan.This book would attract the researchers,academicians, policy makers,working in the field of handloom sector.
Dianah Nannono Interrogating The Integration Of Capital Markets In East Africa Dianah Nannono Interrogating The Integration Of Capital Markets In East Africa Новинка

Dianah Nannono Interrogating The Integration Of Capital Markets In East Africa

This book seeks to discuss the inevitability of the process of capital markets integration. The question as to whether the integration of capital markets in East Africa is a worthwhile venture thus begging interrogation. In light of the varying growth levels, as well as striking contrasts in institutional development, legal and currency regimes of the individual East African countries, the author discusses whether the intended integration will present more opportunities rather than challenges and impediments to the free flow of capital in the region. The author further investigates how, if at all, the integration of capital markets can be achieved in the East African Community within the existing legal framework or what adjustments may be necessary in this respect. It is such discussions that lie at the crux of this book.
Yamini Agarwal Capital Structure Decisions. Evaluating Risk and Uncertainty Yamini Agarwal Capital Structure Decisions. Evaluating Risk and Uncertainty Новинка

Yamini Agarwal Capital Structure Decisions. Evaluating Risk and Uncertainty

9660.89 руб. или Купить в рассрочку!
Inside the risk management and corporate governance issues behind capital structure decisions Practical ways of determining capital structures have always been mysterious and riddled with risks and uncertainties. Dynamic paradigm shifts and the multi-dimensional operations of firms further complicate the situation. Financial leaders are under constant pressure to outdo their competitors, but how to do so is not always clear. Capital Structure Decisions offers an introduction to corporate finance, and provides valuable insights into the decision-making processes that face the CEOs and CFOs of organizations in dynamic multi-objective environments. Exploring the various models and techniques used to understand the capital structure of an organization, as well as the products and means available for financing these structures, the book covers how to develop a goal programming model to enable organization leaders to make better capital structure decisions. Incorporating international case studies to explain various financial models and to illustrate ways that capital structure choices determine their success, Capital Structure Decisions looks at existing models and the development of a new goal-programming model for capital structures that is capable of handling multiple objectives, with an emphasis throughout on mitigating risk. Helps financial leaders understand corporate finance and the decision-making processes involved in understanding and developing capital structure Includes case studies from around the world that explain key financial models Emphasizes ways to minimize risk when it comes to working with capital structures There are a number of criteria that financial leaders need to consider before making any major capital investment decision. Capital Structure Decisions analyzes the various risk management and corporate governance issues to be considered by any diligent CEO/CFO before approving a project.
Gregory Mislick K. Cost Estimation. Methods and Tools Gregory Mislick K. Cost Estimation. Methods and Tools Новинка

Gregory Mislick K. Cost Estimation. Methods and Tools

8683.21 руб. или Купить в рассрочку!
Presents an accessible approach to the cost estimation tools, concepts, and techniques needed to support analytical and cost decisions Written with an easy-to-understand approach, Cost Estimation: Methods and Tools provides comprehensive coverage of the quantitative techniques needed by professional cost estimators and for those wanting to learn about this vibrant career field. Featuring the underlying mathematical and analytical principles of cost estimation, the book focuses on the tools and methods used to predict the research and development, production, and operating and support costs for successful cost estimation in industrial, business, and manufacturing processes. The book begins with a detailed historical perspective and key terms of the cost estimating field in order to develop the necessary background prior to implementing the presented quantitative methods. The book proceeds to fundamental cost estimation methods utilized in the field of cost estimation, including working with inflation indices, regression analysis, learning curves, analogies, cost factors, and wrap rates. With a step-by-step introduction to the practicality of cost estimation and the available resources for obtaining relevant data, Cost Estimation: Methods and Tools also features: Various cost estimating tools, concepts, and techniques needed to support business decisions Multiple questions at the end of each chapter to help readers obtain a deeper understanding of the discussed methods and techniques An overview of the software used in cost estimation, as well as an introduction to the application of risk and uncertainty analysis A Foreword from Dr. Douglas A. Brook, a professor in the Graduate School of Business and Public Policy at the Naval Postgraduate School, who spent many years working in the Department of Defense acquisition environment Cost Estimation: Methods and Tools is an excellent reference for academics and practitioners in decision science, operations research, operations management, business, and systems and industrial engineering, as well as a useful guide in support of professional cost estimation training and certification courses for practitioners. The book is also appropriate for graduate-level courses in operations research, operations management, engineering economics, and manufacturing and/or production processes.
Shank Govindarajan, John Shank, Vijay Govindarajan Strategic Cost Management. The New Tool for Competitive Advantage Shank Govindarajan, John Shank, Vijay Govindarajan Strategic Cost Management. The New Tool for Competitive Advantage Новинка

Shank Govindarajan, John Shank, Vijay Govindarajan Strategic Cost Management. The New Tool for Competitive Advantage

As often reported in Business Week and Fortune, most large companies today concede that their cost systems are desperately obsolete. In this eagerly awaited book, John Shank and Vijay Govindarajan, nationally known experts on the strategic use of cost information, address head-on the fundamental concepts of management accounting that are in desperate need of change. The authors demonstrate how strategic cost management, the first analytic framework to relate meaningful accounting information to a firm's business strategy, is revolutionizing accounting-and overall business practices in leading firms. With numerous extended examples including Ciba-Geigy, Ford, Texas Instruments, and many more, the authors show how the three key tools of strategic cost management-value chain analysis, strategic positioning analysis, and cost driver analysis-provide a sustainable competitive advantage over firms whose cost systems are in disarray.With persuasive evidence, Shank and Govindarajan demonstrate the strategic power of value chain analysis, i.e., linking external value creating activities all the way from basic raw materials, to component suppliers, and through to the ultimate end-use product delivered to the consumers. Next, they examine how cost management and cost control must be differentiated depending on the strategic positioning chosen by the firm, be it cost leadership or product differentiation. Finally, the authors offer penetrating in-sights on cost driver analysis using ...
Junzhai Ma Numeracy, Human-Capital and Economic Growth Junzhai Ma Numeracy, Human-Capital and Economic Growth Новинка

Junzhai Ma Numeracy, Human-Capital and Economic Growth

Seminar paper from the year 2005 in the subject Economics - History, grade: 3, University of Tubingen (Wirtschaftgeschichte), course: Hauptseminar "Humankapital und Wachstum in armen und reichen Ländern", language: English, abstract: Numeracy together with literacy is a basic element of human capital. Recently some international tests were conducted to make comparisons of the numeracy level among different countries.Human capital is a long term economic growth factor. To quantify human capital, various indicators are composed: adult literacy rate, school enrolment rate, etc. These human capital indicators facilitate researchers to analyze the correlation between human capital quality and economic performance of a certain economy. Age heaping, an indicator normally used in demography to check the reliability of a census, is a possible human capital indicator. It can reflect the numeracy level of the researched population. It is shown that for little educated populations, age heaping is a possible human capital indicator, which reflects the human capital level of the researched population.
Eugen V. Bohm-Bawerk, William Smart The Positive Theory of Capital Eugen V. Bohm-Bawerk, William Smart The Positive Theory of Capital Новинка

Eugen V. Bohm-Bawerk, William Smart The Positive Theory of Capital

What is capital? Even economists don't seem to agree on a definition. Here, in this classic primer on the subject, German economist EUGEN V. BOHM-BAWERK (1851-1914) discusses:. the nature of capital. historical development of the concept. competing ideas about capital. the function of capital in production. two conceptions of value. price and the law of supply and demand. loans and interest. and much more.First published in Germany in 1888 and in English in 1891, this intriguing work offers yet another valuable perspective on one of the most basic and yet most debated subjects in economics.
Nina Gillmann International Capital Flows. Economic Impact and Policy Implications Nina Gillmann International Capital Flows. Economic Impact and Policy Implications Новинка

Nina Gillmann International Capital Flows. Economic Impact and Policy Implications

Diploma Thesis from the year 2000 in the subject Economics - Finance, grade: 1, Christian-Albrechts-University of Kiel, language: English, abstract: This paper deals with three highly controversial aspects in the international finance literature: the degree of international financial integration, the economic impact of capital mobility, and the potential role of capital controls in the emerging international financial architecture.Regarding the first aspect, many observers have been influenced by the recent hype about "globalisation" and in fact take it for granted that capital markets have become almost fully integrated into a world financial marketplace. This paper, reviews evidence that challenges this conventional wisdom, though confirming that the degree of international financial integration is rising.With respect to the second aspect, it is demonstrated that there are circumstances under which the free flow of international capital could negatively impact upon economic performance and/or otherwise welfare-enhancing domestic policies. This finding conflicts with traditional theory and provides an economic rationale for the judicious introduction of capital controls.With this assertion in mind, the final aspect, the role of capital controls, is investigated. The specific question explored is how far restrictions on international capital flows are able to avert a costly economic imbalance arising from fluctuations in the balance of payments. Although the internati...
George Renny Young Articles on the great colonial project of connecting Halifax and Quebec by a railroad and ultimately the Altantic and the waters of Lake Huron microform : with an appendix illustrative of the cost, made of raising the capital, and returns George Renny Young Articles on the great colonial project of connecting Halifax and Quebec by a railroad and ultimately the Altantic and the waters of Lake Huron microform : with an appendix illustrative of the cost, made of raising the capital, and returns Новинка

George Renny Young Articles on the great colonial project of connecting Halifax and Quebec by a railroad and ultimately the Altantic and the waters of Lake Huron microform : with an appendix illustrative of the cost, made of raising the capital, and returns

Эта книга — репринт оригинального издания (издательство "[Halifax, N.S.? : s.n.]", 1847 год), созданный на основе электронной копии высокого разрешения, которую очистили и обработали вручную, сохранив структуру и орфографию оригинального издания. Редкие, забытые и малоизвестные книги, изданные с петровских времен до наших дней, вновь доступны в виде печатных книг.
Amsalu Feyissa Housing Construction Cost Amsalu Feyissa Housing Construction Cost Новинка

Amsalu Feyissa Housing Construction Cost

This book discusses and analyses the affordability of housing, indentifies factors affecting affordable housing construction cost and formulates possible interventions in the Addis Ababa city, Ethiopia. Affordability of housing construction cost analysis was based on the selling (transferring) price of buildings, household income, interest rate on loan and maximum loan period. Factors affecting affordability of housing construction cost reviewed from literatures were used to design the form of questionnaire survey which was distributed to respondents: Contractors, Consultants, Addis Ababa Integrated Housing Development projects and Real Estate Developers. The analyses of interventions for the problems of housing affordability were formulated using house design and cost analysis and the concepts Life cycle change of households.
Leonard Sammut Reinsurance in Risk and Capital Management Leonard Sammut Reinsurance in Risk and Capital Management Новинка

Leonard Sammut Reinsurance in Risk and Capital Management

Thesis (M.A.) from the year 2008 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: A, University of Malta, course: Master of Arts in Financial Services, language: English, abstract: Widely advertised corporate failures and the European Commission's Solvency II initiative are exerting pressure on insurers worldwide to improve their risk and capital management capabilities and to adopt a unified and integrated approach towards the management of their risk profile and capital base. Against the backdrop of these developments, the study focuses on one of the fundamental risk and capital management tools available to insurance companies worldwide, namely reinsurance. The objective is to evaluate reinsurance within the risk and capital management structures and processes of Maltese insurance providers writing general business of insurance.
Working Capital Management and Profitability Working Capital Management and Profitability Новинка

Working Capital Management and Profitability

The working capital management plays an important role for success or failure of firm in business because of its effect on firm’s profitability as well on liquidity. The working capital management refers to the management of working capital, or precisely to the management of current assets. A firm’s working capital consists of its investments in current assets, which includes short-term assets—cash and, inventories, receivable and marketable securities. Therefore, the working capital management refers to the management of the levels of all these individual current assets. The universe of the study is textile industry of Pakistan, which is one of the oldest and the fast developing industry in the large scale sector of Pakistan. The study is based on secondary data collected from listed firms in Karachi stock exchange for the period of 2001-2006 with an attempt to investigate the relationship existing between profitability, and working capital management components for listed firms in Karachi stock exchange. The reason for restricting to this particular time period is that the latest and updated data for investigation is available for this period.
Miriam Benz The Implications of the New Capital Adeqaucy Framework for Credit Risk and Capital Management in the Banking Industry Miriam Benz The Implications of the New Capital Adeqaucy Framework for Credit Risk and Capital Management in the Banking Industry Новинка

Miriam Benz The Implications of the New Capital Adeqaucy Framework for Credit Risk and Capital Management in the Banking Industry

Inhaltsangabe:Abstract: In their role as financial intermediaries, banks have the inherent task of assuming risks. This statement follows Diamond’s model (1984) that financial intermediaries exist because they have a comparative advantage in the production of private information. Higher competition and complexity as well as a riskier environment however have increased the importance of managing and controlling one of the banks’ core risks: credit risk. Before analysing the implications on specific credit risk instruments, the thesis will describe the relevant content of“The New Basel Capital Accord” and explain the general context of credit risk and capital management within a bank. An analysis of the implications of „The New Basel Capital Accord” implies the question of how the new incentive structures will modify credit risk and capital management activities within banks and shape the competitive environment of the banking industry. More specifically, it will be investigated how the significance and type of credit risk and capital management will change and what effect ”The New Basel Capital Accord” will have on the development of credit risk measurement instruments. The paper will also describe the impacts of the new Accord on the market for credit derivatives and securitizations and on the structure of these transactions. Moreover, it is important to consider how the scarce and essential resource capital will be affected and what potential conclusions can be drawn. The th...
Неустановленный автор Life Cycle Costing as a Tool of Project Controlling in the Field of Mechanical Engineering Неустановленный автор Life Cycle Costing as a Tool of Project Controlling in the Field of Mechanical Engineering Новинка

Неустановленный автор Life Cycle Costing as a Tool of Project Controlling in the Field of Mechanical Engineering

Master's Thesis from the year 2014 in the subject Business economics - Controlling, grade: 1,3, Technical University of Munich, language: English, abstract: Today, the purchase decision about machines and plants is not made on initial procurement costs alone, but rather on the life cycle costs as well. There is the danger that the machine's follow-up costs exceed the acquisition price. Therefore, the life cycle cost estimation increasingly becomes an essential tool for a cost-effective investment decision.This thesis investigates the life cycle cost calculation of machines and plants as an investment decision tool from the operator's perspective. After outlining the significance and conception of life cycle costing in the field of mechanical engineering, existing cost estimation models and approaches, as well as specific values of dependability, are presented. Therein, especially the problematic nature of operation cost (follow-up cost) estimation, caused mainly by maintenance and repair costs, is discussed. In order to improve the life cycle cost estimation, along with some proposals for enhancing the existing methods, a new approach based on the Weibull and Gamma distribution is provided with focus on failure related repair costs. In this context, the aspects of standardisation, uncertainty and discounting are carved out. Due to the fact that operators increasingly demand for cost guarantee contracts, contract design recommendations are facilitated. Finally, the...
Nermien Al-Ali Comprehensive Intellectual Capital Management. Step-by-Step Nermien Al-Ali Comprehensive Intellectual Capital Management. Step-by-Step Новинка

Nermien Al-Ali Comprehensive Intellectual Capital Management. Step-by-Step

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Learn the fundamentals, practices and models of intellectual capital management with this essential resource. Providing a business-oriented, critical review of the definitions, practices, tools and models that are available today, its approach enables you to understand and retain the cutting-edge issues in the emerging field of intellectual capital management. Includes a diagnostic tool that you can use to assess your position on the continuum of intellectual capital management and leverage your competitive advantage Provides plenty of real-life examples and case studies, including Dow Chemical and American Skandia Offers checklists for steps required for the three main processes of intellectual capital management: knowledge, innovation and intellectual property management . . . and more! Order your copy today!
Rauff Saliu Adejare Human Capital Accumulation and Economics Growth in Nigeria Rauff Saliu Adejare Human Capital Accumulation and Economics Growth in Nigeria Новинка

Rauff Saliu Adejare Human Capital Accumulation and Economics Growth in Nigeria

Sources of economic growth have variously been empirically analyzed. Traditionally, explanation of growth considered physical capital factors and then effective labour. In the past, much of the planning in Nigeria was centered on the accumulation of physical capital without recognition of the important role played, by human capital on rapid growth and development process. This informed the researcher to see how human capital accumulation affects growth in Nigeria. Answer was also sought to whether (or not) the level of education attainment significantly determine rate of economic growth. A number of estimation procedures were carried out. The data series were tested for stationarity using the Augmented Dickey-Fuller (ADF) test as the starting point to assess the order of integration with the aid of econometric views (E-view version 3.1) and two multiple regression models were estimated using ordinary least square method. Based on the findings of this study, physical capital, labour force and human capital were significant factors determine growth in Nigeria over time.
Christian Kronwald Credit Rating and the Impact on Capital Structure Christian Kronwald Credit Rating and the Impact on Capital Structure Новинка

Christian Kronwald Credit Rating and the Impact on Capital Structure

Seminar paper from the year 2009 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, University of Hohenheim (Lehrstuhl für Bankwirtschaft und Finanzdienstleistungen), language: English, abstract: The question about capital structure is one of the most important issues which the management of a company faces in implementing their daily business. Therefore, the question of which factors affect capital structure decisions attracts high attention in the past and recent literature on capital structure. There are many papers providing valuable insights into capital structure choices, starting with the paper of Modigliani and Miller (1958). The MM-Theorem is generally considered a purely theoretical result since it ignores important factors in the capital structure decision like bank-ruptcy costs, taxes, agency costs and information asymmetry. Based on this paper many other theories which consider factors neglected by Modigliani and Miller have been evolved. Two major theories are the Tradeoff- and the Pecking-Order-Theory. The former loosens assumptions stated in the MM-Theorem by including bankruptcy costs and taxes while the latter introduces information asymmetry into the capital structure discussion. Chapter 2.1 will give a brief overview of these theories. For complexity reasons these models cannot capture all relevant factors affecting the capital structure policy of a company. However, all these theories disregard one cru-cial fa...

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Praise for Fourth Edition of Cost of Capital Workbook and Technical Supplement "Pratt and Grabowski went the extra mile to supplement their magnum opus by providing this Workbook and Technical Supplement. As a finance professor for many years, I know from experience that students and teachers really value supplements to textbooks. It allows the teacher to help the student to review and apply what was presented in the text, and the PowerPoints are a great service to teachers in course preparation. The website provides various worksheets that show the inner workings of the models. I enthusiastically recommend the Workbook and Technical Supplement to finance professors and teachers and their students. —Daniel L. McConaughy, PhD, ASA, Professor of Finance, California State University, Northridge, Valuation Services, Crowe Horwath LLP «The Workbook and Technical Supplement provides a detailed tutorial on understanding and executing the theoretical concepts explained in the Fourth Edition. This supplement is three books in one. Part One is a step-by-step tutorial on estimating certain key components of the cost of equity capital. Part Two provides a bridge between the theory and some practical applications, such as estimating the cost of capital for real property. Parts Three and Four allow the readers to test their comprehension of the concepts and identify areas for a review. It is almost as good as having Professors Pratt and Grabowski looking over your shoulder to ensure that one is both comprehending and correctly implementing the complex concepts..» —Ashok Abbott, PhD, Associate Professor of Finance, College of Business & Economics, West Virginia University «This text provides the most comprehensive coverage of cost of capital issues that I have seen to date. Messrs. Pratt and Grabowski have created a very accessible and lucid treatment of what most would consider an opaque subject. The Fourth Edition is especially important for its new topics as well as expanded coverage of concepts from earlier editions. Of particular interest is the review of the extreme market conditions during the 2008–2009 crisis and the effect that the unprecedented volatility had on traditional cost of capital models. For years, Pratt and Grabowski's research has informed the business valuation curriculum of the American Society of Appraisers. This book will be added to our reading list, and thousands of students worldwide will benefit from the state?of?the?art content of the Fourth Edition and the companion Workbook and Technical Supplement. Furthermore, Cost of Capital, Fourth Edition should be a mandatory part of every valuation practitioner's library. If you buy this book, you can expect it to become well worn and remain on your desk within arm's length until the publication of the Fifth Edition.» —John Barton, ASA, CPA, Chairman, Business Valuation Committee, ASA «Cost of capital is so much more complex than it used to be. With so many additional considerations regarding each variable of the cost of capital formula, this book is a must for anyone that needs to understand or develop a discount rate. Even the most experienced practitioner will benefit from the outstanding work of Pratt and Grabowski. This book has to become part of your library.» —Gary R. Trugman, CPA/ABV, MCBA, ASA, MVS, President, Trugman Valuation Associates, Inc.
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