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Record Nr. |
UNINA9910821675403321 |
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Autore |
Pratt Shannon P |
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Titolo |
Cost of capital : applications and examples / / Shannon P. Pratt, Roger J. Grabowski |
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Pubbl/distr/stampa |
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Hoboken, N.J., : John Wiley & Sons, c2008 |
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ISBN |
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1-281-28451-3 |
9786611284510 |
0-470-22371-5 |
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Edizione |
[3rd ed.] |
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Descrizione fisica |
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1 online resource (818 p.) |
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Altri autori (Persone) |
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Disciplina |
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Soggetti |
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Capital investments |
Business enterprises - Valuation |
Capital investments - United States |
Business enterprises - Valuation - United States |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Previous editions had subtitle: Estimation and applications. |
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Nota di bibliografia |
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Includes bibliographical references (p. 655-681) and index. |
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Nota di contenuto |
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COST OF CAPITAL: Applications and Examples, Third Edition; Contents; About the Authors; Foreword; Preface; WHAT'S NEW IN THIS EDITION; AUDIENCES FOR THE BOOK; PRACTICAL APPLICATIONS; Acknowledgments; Introduction; PURPOSE AND OBJECTIVE OF THIS BOOK; OVERVIEW; IMPORTANCE OF THE COST OF CAPITAL; COST OF CAPITAL ESSENTIAL IN THE MARKETPLACE; SOUND SUPPORT ESSENTIAL IN THE COURTROOM; ORGANIZATION OF THIS BOOK; SUMMARY; Notation System and Abbreviations Used in This Book; VALUE AT A POINT IN TIME; COST OF CAPITAL AND RATE OF RETURN VARIABLES; INCOME VARIABLES; PERIODS OR VARIABLES IN A SERIES |
WEIGHTINGS GROWTH; MATHEMATICAL FUNCTIONS; NOTATION FOR REAL PROPERTY VALUATION (CHAPTER 36); ABBREVIATIONS; Part 1: Cost of Capital Basics; Chapter 1: Defining Cost of Capital; INTRODUCTION; COMPONENTS OF A COMPANY'S CAPITAL STRUCTURE; COST OF CAPITAL IS A FUNCTION OF THE INVESTMENT; COST OF CAPITAL IS FORWARD LOOKING; COST OF CAPITAL IS BASED ON MARKET VALUE, NOT BOOK VALUE; COST OF CAPITAL IS USUALLY STATED IN NOMINAL TERMS; COST OF CAPITAL EQUALS THE DISCOUNT |
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RATE; DISCOUNT RATE IS NOT THE SAME AS CAPITALIZATION RATE; SUMMARY |
Chapter 2: Introduction to Cost of Capital Applications: Valuation and Project Selection INTRODUCTION; NET CASH FLOW IS THE PREFERRED ECONOMIC INCOME MEASURE; COST OF CAPITAL IS THE PROPER DISCOUNT RATE; PRESENT VALUE FORMULA; EXAMPLE: VALUING A BOND; APPLICATIONS TO BUSINESSES, BUSINESS INTERESTS, PROJECTS, AND DIVISIONS; SUMMARY; Chapter 3: Net Cash Flow: Preferred Measure of Economic Income; INTRODUCTION; DEFINING NET CASH FLOW; NET CASH FLOWS SHOULD BE PROBABILITY-WEIGHTED EXPECTED VALUES; WHY NET CASH FLOW IS THE PREFERRED MEASURE OF ECONOMIC INCOME; RESIDUAL EARNINGS; SUMMARY |
ADDITIONAL READING Chapter 4: Discounting versus Capitalizing; INTRODUCTION; CAPITALIZATION FORMULA; EXAMPLE: VALUING A PREFERRED STOCK; FUNCTIONAL RELATIONSHIP BETWEEN DISCOUNT RATE AND CAPITALIZATION RATE; MAJOR DIFFERENCE BETWEEN DISCOUNTING AND CAPITALIZING; CONSTANT GROWTH OR GORDON GROWTH MODEL; COMBINING DISCOUNTING AND CAPITALIZING (TWO-STAGE MODEL); EQUIVALENCY OF DISCOUNTING AND CAPITALIZING MODELS; MIDYEAR CONVENTION; MATCHING PROJECTION PERIODS TO FINANCIAL STATEMENTS: PARTIAL FIRST YEAR; CAPITALIZING RESIDUAL EARNINGS; SUMMARY |
Chapter 5: Relationship between Risk and the Cost of Capital INTRODUCTION; DEFINING RISK; HOW RISK IMPACTS THE COST OF CAPITAL; TYPES OF RISK; COST OF EQUITY CAPITAL; COST OF INVESTED CAPITAL OR OVERALL COST OF CAPITAL; SUMMARY; Chapter 5A: FASB's Concepts Statement No. 7: Cash Flows and Present Value Discount Rates; Chapter 6: Cost Components of a Company's Capital Structure; INTRODUCTION; DEBT CAPITAL; PREFERRED EQUITY; CONVERTIBLE DEBT AND PREFERRED EQUITY; EMPLOYEE STOCK OPTIONS; COMMON EQUITY; SUMMARY; Part 2: Estimating the Cost of Equity Capital and the Overall Cost of Capital |
Chapter 7: Build-up Method |
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Sommario/riassunto |
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In this long-awaited Third Edition of Cost of Capital: Applications and Examples, renowned valuation experts and authors Shannon Pratt and Roger Grabowski address the most controversial issues and problems in estimating the cost of capital. This authoritative book makes a timely and significant contribution to the business valuation body of knowledge and is an essential part of the expert's library. |
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