bài giảng chapter 9 the cost of capital

... proportional to the amplitude and frequency of the waves  the larger the wave amplitude, the more force it has  the more frequently the waves strike, the more total force there is Tro, Chemistry: ... 100 07. 1 1000.3c 1- s 8 -1 sm 8 = ì ì == ã 1-8 -16 s 100 07. 1 MHz 1 s 10 MHz 00 .71 ì=ì Practice Calculate the wavelength of a radio signal with a frequency of...

Ngày tải lên: 28/11/2013, 01:11

... Goals: ã Understand the cost of capital and the specific sources of capital associated with the cost of capital. ã Determine the cost of debt and preference share capital. ã Calculate cost of ordinary share capital, ... The Cost Of Already Issued Preference Capital  Calculated by: [Equation 11. 4] Where: r p = Cost of preference share capita...

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 acc...

Ngày tải lên: 06/03/2014, 21:20

... crisis, the collapse of Japan Inc. after 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 ... incor- rectly, that there was no theoretical justification for the visible hand of government to come to the rescue of banks and other financial institu...

Ngày tải lên: 20/06/2014, 20:20

... predispose the economy to 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. In summation, the ... but the competition from the new commodity, the new technology, the new source of supply . . . which commands a decisive cost or quality advan- tage...

Ngày tải lên: 20/06/2014, 20:20

... when your debts are in dollars, and the dollar jumps versus your currency? The level of your debt—valued in your currency—leaps relative to the value of your earnings. Once again we find ourselves ... economies and near universal disillusion with Wall Street, the most visible and dynamic capital market in the world. The irony of the 1980s, then, is that while commun...

Ngày tải lên: 20/06/2014, 20:20

... kick the football through the uprights and join the crowd of believers. And I hem, Doc, and I haw. And, I twist and turn. But the crowd grows more rest- less, and her gaze is enticing, and I ... in terms of global savings. I saw it as easy money emanating from the 130 ã T HE C OST OF C APITALISM to the powers of the computer and the cell phone, and en...

Ngày tải lên: 20/06/2014, 20:20

... T HE C OST OF C APITALISM had with the rest of the financial system, the Treasury/Federal Reserve plan wiped Bear off the map and yet minimized the adverse conse- quences to the system. Lehman Brothers ... classical theorists Economic Orthodoxy on the Eve of the Crisis ã 171 The financial crisis has upset the linkage between mortgage bor- rowers and capital mar...

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 ... academia and Washington. Minsky, unruffled, offered the world the monograph John Maynard Keynes in the fall of 1975. For Minsky, the deep economic troubles...

Ngày tải lên: 20/06/2014, 20:20

... capital markets and the strong growth that they financed gave rise to the long string of successes that were celebrated through- out the 1990s and into the middle years of the first decade of the new millennium. ... More simply, the roots of the 2008 financial markets crisis can be found in mainstream economic theory and in the mathematical archi- tecture of m...

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 ... the last war: the war against inflation. Vanquishing the Boom and Bust Cycle of the Sixties and Seventies . . . When Paul Volcker was appointed chairman of the Fede...

Ngày tải lên: 21/06/2014, 12:20

... lower than the value of what is owed to them—their assets. When they subtract their liabilities from their assets, the remainder is their equity. The problem for banks arises if the banks have lots of ... gone bust and the bank now owns the home. But the loan was for $588,000, and the house is worth $538,000. If lots of home loans go the way of Hanna’s loan, then th...

Ngày tải lên: 21/06/2014, 12:20

... predispose the economy to 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. In summation, the ... 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 M...

Ngày tải lên: 21/06/2014, 12:20

... any fun playing the role of party pooper. What fol- lows is a piece I wrote on the eve of the collapse of Nasdaq, in the spring of 2000. 2 The Brave-New-World Boom Goes Bust: The 1990s Technology ... the focus of only a short list of econo- mists. In fact, the vast majority of forecasters denied recession risk in the United States until the gut-wrenching even...

Ngày tải lên: 21/06/2014, 12:20

... not included in the calculation of the cost of capital. We do adjust for these items when calculating the cash flows of a project, but not when calculating the cost of capital. 9 - 4 Should ... 9 - 1 CHAPTER 9 The Cost of Capital  Cost of Capital Components  Debt  Preferred  Common Equity  WACC 9 - 2 What types of long-term capital do...

Ngày tải lên: 30/10/2014, 08:23