Brand New, Unread Copy in Perfect Condition. A+ Customer Service! Summary: Contents List of illustrations Preface Extracts from preface to the first edition 1 INVESTMENT DECISIONS AND CORPORATE OBJECTIVES Investment decisions The limitations of quantification The state of business practice Time, risk, and the risk-return trade-off Three basic generalizations Relevance of cash flows Cash flows versus earnings The capital market The weighted average cost of capital Tactical and strategic decisions The role of strategic planning The two capital budgeting revolutions Conclusions Pop quiz Problems Answer to pop quiz Bibliography 2 THE TIME VALUE OF MONEY Time discounting Future value Present value Computing present value factors Annual equivalent amounts A growing annuity A constant interest bond Present value factors derived from market prices Conclusions Pop quiz Review problem Problems Answer to pop quiz Solution to review problem Bibliography Appendix A Appendix B 3 CAPITAL BUDGETING: THE TRADITIONAL SOLUTIONS A capital budgeting decision Rate of discount Classification of cash flows Classifying investments Measures of investment worth Two discounted cash flow methods Net present value profile Payback period Return on investment What firms do Cash flows Working capital Excluding interest payment Conclusions Pop quiz Review problems Problems Answers to pop quiz Solutions to review problems Bibliography 4 MUTUALLY EXCLUSIVE INVESTMENTS Accept or reject decision Mutually exclusive investment Incremental benefits: the scale problem Timing Reinvestment assumption Reinvestment rate of return Loan-type flows Multiple internal rates of return Interpretation of multiple IRRs A "paradox" Converting multiple IRRs to a single IRR Significance of nonconventional cash flows Ranking independent investments Mutually exclusinve alternatives with different risks Duration: a sensitivity measure Why the internal rate of return method is popular Choosing the required rate of return Conclusions Review problem Problems Solution to review problem Bibliography 5 Annual equivalent costs and replacement decisions Annual equivalent cost Make or buy decision Comparability Mutually exclusive alternatives with different lives Annual equivalent cost Lowest common multiple life A perpetuity Components of unequal lives Cost of excess capacity The equal cost assumption The replacement decision Replacement chains Conclusions Review problem Problems Solution to review problem Bibliography 6 CAPITAL BUDGETING UNDER CAPITAL RATIONING External capital rationing Internal capital rationing Internal capital rationing and dividend policy Ranking of investments Index of present value (or profitability index) Programming solutions Capital rationing and risk Conclusions Problems Bibliography 7 THE USE OF THE WEIGHTED AVERAGE COST OF CAPITAL AND OTHER RATES OF DISCOUNT The sources of cash The cost of retained earnings A theory of stock values Changes in stock prices Accumulated depreciation and the cost of capital Issuing common stock Cost of retained earnings: with investor taxes Cost of new equity capital Issuing common stock: the element of timing Delaying the investment Cost of long-term debt Cost of short-term debt Debt and income taxes Weighted average cost of capital The optimum capital structure Summary of weighted average cost of capital Default-free rate of discount Adjusting the default-free rate Comparing average and marginal returns Conclusions Problems Bibliogra. Codice inventario libreria
Fully updated and revised by international authorities on the topic, this new version of a classic and established text returns to its roots as a clear and concise introduction to this complex but essential topic in corporate finance.
Retaining the authority and reputation of previous editions, it now covers several topics in-depth which are frequently under explored, including distribution policy and capital budgeting.
Features new to this edition include:
Easily understandable, and covering the essentials of capital budgeting, this book helps readers to make intelligent capital budgeting decisions for corporations of every type.
Dall'editore: This book addresses an ongoing challenge for business professionals and economists: how to allocate available financial resources among many possible investment projects.
Condizione libro: New
Descrizione libro Routledge, Florence, Kentucky, U.S.A., 2007. Hardcover. Condizione libro: Good. 9th. 0415400031 Some hilights. Few bumps to the cover. Quite good working copy. Codice libro della libreria 026229
Descrizione libro Routledge, 2007. Hardcover. Condizione libro: Good. Item may show signs of shelf wear. Pages may include limited notes and highlighting. Includes supplemental or companion materials if applicable. Access codes may or may not work. Connecting readers since 1972. Customer service is our top priority. Codice libro della libreria mon0000529417
Descrizione libro Routledge, 2016. Hardback. Condizione libro: NEW. 9780415400039 This listing is a new book, a title currently in-print which we order directly and immediately from the publisher. Print on Demand title, produced to the highest standard, and there would be a delay in dispatch of around 15 working days. Codice libro della libreria HTANDREE0222632
Descrizione libro Routledge, 2016. Paperback. Condizione libro: New. PRINT ON DEMAND Book; New; Publication Year 2016; Not Signed; Fast Shipping from the UK. No. book. Codice libro della libreria ria9780415400039_lsuk
Descrizione libro Routledge. Condizione libro: BRAND NEW. BRAND NEW Hardcover - 404pp - This title is now printed on demand - please allow 2-3 weeks added time for shipment! A Brand New Quality Book from a Full-Time Bookshop in business since 1992!. Codice libro della libreria 1976013
Descrizione libro Routledge, 2006. Hardcover. Condizione libro: New. 9. Codice libro della libreria DADAX0415400031
Descrizione libro Routledge, 2006. HRD. Condizione libro: New. New Book. Delivered from our US warehouse in 10 to 14 business days. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. Codice libro della libreria I1-9780415400039
Descrizione libro Routledge, 2006. Hardcover. Condizione libro: New. Codice libro della libreria INGM9780415400039
Descrizione libro Routledge, 2006. HRD. Condizione libro: New. New Book. Shipped from US within 10 to 14 business days. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. Codice libro della libreria I1-9780415400039
Descrizione libro Routledge, 2006. Hardcover. Condizione libro: New. book. Codice libro della libreria 0415400031