LEADER 05543nam 2200697Ia 450 001 9910458112903321 005 20200520144314.0 010 $a1-281-02411-2 010 $a9786611024116 010 $a0-08-051480-4 035 $a(CKB)1000000000363579 035 $a(EBL)298451 035 $a(OCoLC)469608153 035 $a(SSID)ssj0000306873 035 $a(PQKBManifestationID)11223691 035 $a(PQKBTitleCode)TC0000306873 035 $a(PQKBWorkID)10306985 035 $a(PQKB)11037194 035 $a(MiAaPQ)EBC298451 035 $a(PPN)170232018 035 $a(Au-PeEL)EBL298451 035 $a(CaPaEBR)ebr10127928 035 $a(CaONFJC)MIL102411 035 $a(EXLCZ)991000000000363579 100 $a20040514d2004 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aPrinciples of cash flow valuation$b[electronic resource] $ean integrated market-based approach /$fJoseph Tham, Ignacio Ve?lez-Pareja 210 $aAmsterdam ;$aBoston, MA $cElsevier Academic Press$dc2004 215 $a1 online resource (517 p.) 225 1 $aAcademic Press advanced finance series 300 $aDescription based upon print version of record. 311 $a1-4933-0204-3 311 $a0-12-686040-8 320 $aIncludes bibliographical references (p. 479-482) and index. 327 $aFront Cover; PRINCIPLES OF CASH FLOW VALUATION: An Integrated Market-Based Approach; Copyright Page; CONTENTS; PREFACE; ABOUT THE AUTHORS; Chapter 1. Basic Concepts in Market-Based Cash Flow Valuation; 1.1 Introduction; 1.2 Market-Based Procedure for Valuation; 1.3 Steps in Cash Flow Valuation; 1.4 Present Value; 1.5 The Standard After-Tax Weighted Average Cost of Capital; 1.6 Types of Cash Flows; 1.7 Weighted Average Cost of Capital in an M & M World; 1.8 WACC in an M & M World with Taxes; 1.9 The Fundamental Free Cash Flow Relationship 327 $a1.10 The Main Valuation Methods and Formulas for Cost of Capital 1.11 The Cash Flow to Equity Approach; 1.12 Estimating the Cost of Capital; 1.13 Adjusted Present Value Approach; 1.14 Various Formulations for the Cost of Capital; 1.15 Summary and Concluding Remarks; Chapter 2. Time Value of Money and Introduction to Cost of Capital; 2.1 Introduction; Section 1; 2.2 Nominal Prices, Constant Prices, and Real Prices; 2.3 Risk Premium with the Capital Asset Pricing Model; 2.4 Calculating PV with a Finite Stream of Cash Flows; Section 2; 2.5 Valuation with a Finite Stream of Cash Flows 327 $a2.6 Summary and Concluding Remarks Appendix A; A2.1 Calculating the PV with Cash Flow in Perpetuity (Without Growth); A2.2 WACC in an M & M World with Taxes; A2.5 Free Cash Flow in Perpetuity with Growth; A2.6 Cash Flow to Equity; Appendix B; B2.1 Using the CAPM to Find the Cost of Capital; B2.2 Discount Rate for the Tax Shield is the Return to Unlevered Equity; Chapter 3. Basic Review of Financial Statements and Accounting Concepts; 3.1 Financial Statements and Accounting Concepts; Section 1; 3.2 Balance Sheet; 3.3 Working Capital; 3.4 (Book) Value of Equity; 3.5 Income Statement 327 $a3.6 Cash Flow Statement (CFS) According to GAAP 3.7 Cash Budget Statement; 3.8 Differences between the CFS According to GAAP and the CB Statement; 3.9 Integration of the Financial Statements; Section 2; 3.10 Preliminary Tables; 3.11 Summary and Concluding Remarks; Appendix A; Appendix B; Chapter 4. Constructing Integrated Pro-Forma Financial Statements, Part One; 4.1 Basic Financial Statements; 4.2 Simple Numerical Example; 4.3 Goals and Policies for Selected Variables; 4.4 Depreciation Schedule; 4.5 Estimated Target Variables; 4.6 Preliminary Tables for the Simple Example 327 $a4.7 Constructing the Financial Statements for the Simple Example 4.8 Detailed Cash Budget Statement in Year 5; 4.9 Balance Sheet; 4.10 Cash Flow Statement According to GAAP; 4.11 Summary and Concluding Remarks; Appendix A; Chapter 5. Constructing Integrated Pro-Forma Financial Statements, Part Two; 5.1 Constructing Financial Statements; 5.2 Impact on Demand of Changes in Price and of Expenditures on Advertising and Promotion; 5.3 Real Rate of Interest, the Risk-Premium for Debt, and the Reinvestment Return: Interest Rates Estimation; 5.4 Depreciation Schedule 327 $a5.5 Initial Cash Budget for Year 0 330 $aThe valuation of assets, both tangible and intangible, is an important element of corporate finance. Putting a price tag on ideas is almost impossible, and in the new economy, where companies grow dependent on intangible assets all the time, market volatility can be attributed in large part to our collective ignorance of their value. There are two basic approaches to valuation: from financial statements to cash flows, and from cash flows to financial statements. The former projects historical financial statements into the future and the latter attempts to construct cash flow statements and us 410 0$aAcademic Press advanced finance series. 606 $aCash flow$xValuation 606 $aCash flow$xAccounting 608 $aElectronic books. 615 0$aCash flow$xValuation. 615 0$aCash flow$xAccounting. 676 $a658.15244 700 $aTham$b Joseph$0953267 701 $aVe?lez Pareja$b Ignacio$f1943-$0953268 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910458112903321 996 $aPrinciples of cash flow valuation$92155003 997 $aUNINA