the cost of capital

... Goals: • Understand the cost of capital and the specific sources of capital associated with the cost of capital. • Determine the cost of debt and preference share capital. • Calculate cost of ordinary share capital, ... ease of calculation, availability of data and ease of adjustment for flotation costs when calculating the cost of new ordinar...

Ngày tải lên: 16/12/2013, 14:57

... that the cost of capital of the firm depends on four factors: the risk free rate, the aggregate risk tolerance of the market, the expected cash flow of the firm, and the covariance of the firm’s ... links the disclosure of accounting information to the cost of capital. Specifically, we examine whether and how the quality of a firm’s accountin...

Ngày tải lên: 06/03/2014, 21:20

... the stock market crash of 1990, the Asian crisis of the mid-1990s, the fabulous technology boom/bust cycle at the turn of the millen- nium, and the unprecedented rise and then collapse for U.S. ... economists joined together in a cele- bration of the Goldilocks economy. With the dismal record of the 1970s as their point of comparison, mainstream analysts focuse...

Ngày tải lên: 20/06/2014, 20:20

... to the Fed’s list of poten- tially destabilizing excesses. Why? Sadly, it was not the force of ideas that carried the day. It was the end of the Great Moderation. The breath- taking nature of the ... excessive uses of risk and concentration of investment. And the interplay of these two flaws explains each of the major economic declines of the past 25 years...

Ngày tải lên: 20/06/2014, 20:20

... and the economy. CASH, AT LONG, LONG LAST, IS TRASH Equity ownership, or a piece of the action, is the essence of the difference between capitalist-based economies and the planned economies of the Soviet ... bubble of the proportions of Japan in the 1980s or the technology bubble in the United States in the 1990s. Indeed, in this case you could argue that the...

Ngày tải lên: 20/06/2014, 20:20

... handful of other Asian countries were intent on keeping their currencies pegged to the U.S. dollar. To do so, they needed to buy U.S. bonds. And they ended up buying trillions of dollars’ worth of ... in terms of global savings. I saw it as easy money emanating from the 130 • T HE C OST OF C APITALISM to the powers of the computer and the cell phone, and envisioned an ex...

Ngày tải lên: 20/06/2014, 20:20

... in the soundness of the people on the other side of the table, financial business comes to a screeching halt, and the global economy is not far behind. Bear Stearns Appropriately enough, the ... neoclassical synthesis, arguing that much of the genius of Keynes was lost in the attempt to preserve the lion’s share of the classical economic tradition. To grossly ov...

Ngày tải lên: 20/06/2014, 20:20

... brain skills. Looking through the details of the question to get to an overarching sense of the issue is at the heart of right brain thinking. Out of the Mouths of Babes The best right brain thinking ... even amidst the imposing shadow of the 2008 crisis, the record of free market capitalism over the past 50 years is striking. The postwar reality—good gains...

Ngày tải lên: 20/06/2014, 20:20

... part of the mainstream formulation. The simple truth is that theorists owe this to the policy-making world. The sooner they deliver it, the better. 208 • T HE C OST OF C APITALISM Cushioning the ... leading up to the crisis of 2008, many champions of free market capitalism warned about the tenuous nature of the global credit markets. Warren Buffett, the sage of...

Ngày tải lên: 20/06/2014, 20:20

... economists joined together in a cele- bration of the Goldilocks economy. With the dismal record of the 1970s as their point of comparison, mainstream analysts focused on the not-too-hot, not-too-cold ... wit- nessed the 1987 stock market crash, the S&L crisis of the early 1990s, the Long-Term Capital Management meltdown, and the spectacular technology boom and...

Ngày tải lên: 21/06/2014, 12:20