Cash return on capital invested : ten years of investment analysis with the CROCI economic profit model / / Pascal Costantini

• Record Nr.: UNINA9911092861203321
• Autore: Costantini Pascal
• Pubbl/distr/stampa: Amsterdam ; ; Boston, MA, : Butterworth-Heinemann, c2006
• ISBN: 9786610631254; 9781280631252; 1280631252; 9780080461786; 0080461786
• Edizione: [1st ed.]
• Descrizione fisica: 1 online resource (245 p.)
• Disciplina: 658.155; 332.632
• Soggetti: Corporations - Valuation; Corporations - Finance; Cash flow; Cash management
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: "Elsevier finance"--jacket.
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Front cover; Title page; Copyright page; Table of contents; By way of introduction; A temporary confidence crisis; Structure of the book; Acknowledgements; Mentors, peers and children; Part I What is Investment Analysis?; 1 Investment, investors and financial analysis; An annoying question - inquisitive colleagues; Emotions in motion - tea-leaf reading?; The tools of investment - a (very) brief history of financial ratios; The people of investment - an unfair typology; The economic profit framework; The PE paradox - an introduction to behavioral finance; Coffee or beer? The issue of investment 'styles''Approximately and most of the time'; 2 The PE and the Equivalence principle: asset multiple and relative return; Cinderella's slipper - a misunderstanding: economic versus actuarial; The PE ratio and its actuarial framework; The economic construction behind the PE ratio; The equivalence between asset multiple and relative return - the residual income model; ; Why would you use accounting numbers to fuel the EP model?; Empirical evidence of the Equivalence as an investment tool; Cost of capital and expected return; Is it for real?; Discounted cash-flow models and PE ratios - financial and investment analysisThe one-man band; Appendix: The multiple guises of the PE ratio; Part II Digging the Foundations: Reconstruction of Economic Data; 3 Measuring the value of economic assets: the asset multiple; Tidying up a few loose ends; The debt problem: left and right, Cain and Abel, Miller and Modigliani; Liable: legally bound, under an obligation - beware of hidden liabilities; The final calculation of the economic enterprise value; Inflation: apples and oranges, age and half-life, PPP; Invisibility and unaccountability: get a life, a non-smoker's dream, the asset testA certain Nobel Prize winner - not much for half a million - physical assets; 4 The relative return; Keynes the speculator, Tobin the investor; jinxed in Pleasantville; Hotelling; a Stephen Hawking definition of assets - straight line's not so straight; Dealing with infinity - cash return on capital invested; The cost of capital: an implicit calculation - fading and failing; An empirical calculation with multiple uses; 5 The price of growth; The stuff of dreams; CROCI and the Big Mac; Same earnings growth, different valuation Do you think what they think?; Growth matters ... sometimes - some disturbing news for growth managers; The third dimension - the Market Horn of Plenty; Part III Drawing Up the Plans: Analysis of Economic Profits; 6 The fundamental analysis of economic characteristics; The storytellers - fundamental and investment analysis - the special case of financial groups; Missing something? The right chemistry; Three CROCI patterns: a typology of corporate behaviour; Asset growth - another insight into corporate behaviour; Everything and nothing; 7 Investment analysis
• Sommario/riassunto: In this book, Pascal Costantini gives a lively and wonderfully readable account of ten years of efforts by a small group of investment analysts to find a reliable, practical and implementable method for valuing and selecting shares. The result of their effort is an original investment methodology called CROCI (Cash Return on Capital Invested), best described as a variation of the economic profit model. For over a decade now, Costantinis group at Deutsche Bank has been using this valuation tool every time it has had to take a view on the pricing of an equity asset, be it a market, a sector or a

Ageism : stereotyping and prejudice against older persons / / edited by Todd D. Nelson

• Record Nr.: UNINA9911144407003321
• Pubbl/distr/stampa: Cambridge, MA, : MIT Press, c2002
• ISBN: 0-585-44844-2; 0-262-28051-5
• Edizione: [1st ed.]
• Descrizione fisica: 1 online resource (xvi, 372 pages : illustrations)
• Altri autori (Persone): NelsonTodd D. <1966->
• Disciplina: 305.26/0973
• Soggetti: Ageism - United States; Ageism
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: "A Bradford book."
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Intro -- Contents -- Preface -- Contributors -- I - Origins of Ageism -- 1 - Doddering But Dear: Process, Content, and Function in Stereotyping of Older Persons -- 2 - Ageism: Denying the Face of the Future -- 3 - Implicit Ageism -- 4 - A Social-Developmental View of Ageism -- II - Effects of Ageism -- 5 - Attitudes toward Older Adults -- 6 - Ageism in the Workplace: A Communication Perspective -- 7 - Ageist Behavior -- 8 - The Paradox of Well-Being, Identity Processes, and Stereotype Threat: Ageism and Its Potential Relationships to the Self in Later Life -- III - Reducing Ageism and Future Directions -- 9 - Acting Your Age -- 10 - Will Families Support Their Elders? Answers from Across Cultures -- 11 - Reducing Ageism -- 12 - Thirty Years of Ageism Research -- Index.
• Sommario/riassunto: Along with race and gender, people commonly use age to categorize -- and form stereotypes about -- others. Of the three categories, age is the only one in which the members of the in-group (the young) will eventually join the out-group (the old). Although ageism is found cross-culturally, it is especially prevalent in the United States, where most people regard growing older with depression, fear, and anxiety. Older people in the United States are stigmatized and marginalized, with often devastating consequences. Although researchers have paid a great deal of attention to racism and sexism, there has been a dearth of research on ageism. A major reason for this neglect is that age ; prejudice is still considered socially acceptable. As baby boomers approach retirement age, however, there has been increased academic and popular interest in aging. This volume presents the current thinking on age stereotyping, prejudice, and discrimination by researchers in gerontology, psychology, sociology, and communication. The book presents theoretical and empirical findings on the origins and effects of ageism, as well as suggestions on how to reduce ageism for the approaching "graying of America."