principles of corporate finance 10th edition

Phần 3 của cuốn sách này mô tả các vấn đề thực tế trong việc quản lý các khoản đầu tư vốn và nguồn tài chính của công ty. Nó tập trung vào vấn đề đánh giá đúng các khoản đầu tư vốn có NPV dương và các thủ tục để thẩm định và chấp thuận các khoản đầu tư đã chọn. Các vấn đề như thu thập thông tin chính xác và đưa ra các dự báo tốt cho những người ra quyết định cũng được thảo luận. Chúng cũng đề cập đến các khuyến khích phù hợp với quản lý và nhân viên nếu họ đóng góp vào việc tăng giá trị cho DN. Tóm lại, phần này tập trung vào các vấn đề thực tế thường khó phân tích, chẳng hạn như chiến lược thúc đẩy tăng trưởng có thể gây ra mối đe dọa của việc phá sản khi nền kinh tế suy thoái.

Ngày tải lên: 06/07/2014, 08:20

... Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VI. Options 21. Valuing Options © The McGraw−Hill Companies, 2003 CHAPTER TWENTY-ONE 590 VALUING OPTIONS Brealey−Meyers: Principles of Corporate ... formula from Chapter 20: Value of put ϭ value of call Ϫ value of stock ϩ PV1exercise price2 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VI Options 21 Valuing ... the value of a call is equal to an investment of N1d1 2 in the common stock less borrowing of N1d2 2 ϫ PV1EX2 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition

Ngày tải lên: 06/07/2014, 08:20

... percent chance of a $12.5 million payoff and a 60 percent chance of an $8 million payoff The risky project offers a 40 percent chance of a $20 million payoff and a 60 percent chance of a $5 ... 10-year... Convertibles,” Journal of Applied Corporate Finance 1 (Summer 1988), pp 55–64 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VI Options 23 Warrants ... deviation of equity 1␴* 2 ϭ 12 16 ϫ 38 ϭ 28.5% Standard deviation of initial assets ϭ proportion in common stock ϫ standard deviation of common stock Brealey−Meyers: Principles of Corporate Finance,

Ngày tải lên: 06/07/2014, 08:20

... Principles of Corporate Finance, Seventh Edition VII. Debt Financing 24. Valuing Debt © The McGraw−Hill Companies, 2003 CHAPTER TWENTY-FOUR 666 VALUING DEBT Brealey−Meyers: Principles of Corporate ... prices of a sample of strips of UK gilts (government bonds) in December 1998 Each strip makes a single payment of £100 at maturity Brealey−Meyers: Principles of Corporate Finance, ... Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VII. Debt Financing 24. Valuing Debt © The McGraw−Hill Companies, 2003 dard deviation of annual returns on a portfolio of long-term

Ngày tải lên: 06/07/2014, 08:20

... Board of Governors of the Federal Reserve System, Washington, D.C., 1991. Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VII. Debt Financing 25. The Many Different Kinds of ... Rate-sensitive... Analysis of U.S Firms in Reorganization,” Journal of Finance, 44:747–770 (July 1989) Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VII Debt Financing ... Finance, Seventh Edition VII Debt Financing 25 The Many Different Kinds of Debt... assets of the firm Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VII Debt

Ngày tải lên: 06/07/2014, 08:20

... Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VII. Debt Financing 26. Leasing © The McGraw−Hill Companies, 2003 CHAPTER TWENTY-SIX 728 L E A S I N G Brealey−Meyers: Principles of Corporate ... that it needs for only a year or two. Of course, this kind of lease is always an operating lease. Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VII. Debt Financing 26. Leasing ... limos were off-lease and idle 20 percent of the time, lease rates would have to be 25 percent above those shown in Table 26.1. Brealey−Meyers: Principles of Corporate Finance, Seventh Edition

Ngày tải lên: 06/07/2014, 08:20

... commodities too The miller could offset changes in the cost of future wheat... on the price guarantees Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VIII Risk Management ... insurance has not been available for the very largest losses of $500 million or more. Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VIII. Risk Management 27. Managing Risk © The ... long hedge. Brealey−Meyers: Principles of Corporate Finance, Seventh Edition VIII. Risk Management 27. Managing Risk © The McGraw−Hill Companies, 2003 The price of wheat for immediate delivery

Ngày tải lên: 06/07/2014, 08:20

... electron- ics firm apply its average cost of capital to its inventory of gold? (See Section 11.1.) Brealey−Meyers: Principles of Corporate Finance, Seventh Edition IX. Financial Planning and Short−Term ... out statements of sources and uses of cash and sources and uses of funds for 2000 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition IX Financial Planning and Short−Term ... of 2002, Dynamic... payables Stretching is one source of short-term financing, but for most firms it is an expensive Brealey−Meyers: Principles of Corporate Finance, Seventh Edition

Ngày tải lên: 06/07/2014, 08:20

... Miller–Orr model is described in the Principles of Corporate Finance Web page Brealey−Meyers: Principles of Corporate Finance, Seventh Edition IX Financial Planning and Short−Term ... choice of money-market investments, with different SUMMARY Visit us at www.mhhe.com/bm7e Brealey−Meyers: Principles of Corporate Finance, Seventh Edition Brealey−Meyers: Principles ... United Carbon has an available balance of $1 million and an availability float of $100,000: Brealey−Meyers: Principles of Corporate Finance, Seventh Edition IX. Financial Planning and Short−Term

Ngày tải lên: 06/07/2014, 08:20

... McConnell, ? ?Corporate Performance, Corporate Takeovers, and Management Turnover,” Journal of Finance 46 (June 1991), pp. 671–687. Brealey−Meyers: Principles of Corporate Finance, Seventh Edition ... Principles of Corporate Finance, Seventh Edition Brealey−Meyers: Principles of Corporate Finance, Seventh Edition Visit us at www.mhhe.com/bm7e 958 X Mergers, Corporate Control, ... the Perspective of Insiders and Outsiders,” Journal of Financial Economics 60 (2001), pp. 285–331. Brealey−Meyers: Principles of Corporate Finance, Seventh Edition X. Mergers, Corporate Control,

Ngày tải lên: 06/07/2014, 08:20

... 2010 balance sheet of Global Tours showed current assets of $1,360 and current liabilities of $940 The 2011 balance sheet showed current assets of $1,640 and current liabilities of $1,140 What was ... encounter financial distress B lower the amount of debt incurred C less debt a firm has per dollar of total assets D higher the number of outstanding shares of stock E lower the balance in accounts ... 2.3 Topic: Average tax rate 88 Webster World has sales of $12,900, costs of $5,800, depreciation expense of $1,100, and interest expense of $700 What is the operating cash flow if the tax rate

Ngày tải lên: 27/10/2017, 09:25

... NPV = C1/C0 17 An initial investment of $400,000 is expected to produce an end -of- year cash flow of $480,000 What is the NPV of the project at a discount rate of 20%? A $176,000 B $80,000 C $0 (zero) ... Accept a project if its rate of return > opportunity cost of capital 25 An initial investment of $500 produces a cash flow of $550 one year from today Calculate the rate of return on the project ... the expected rate of return on a well-diversified portfolio of common stocks C the expected rate of return on a security of similar risk as the project D The expected rate of return on a typical

Ngày tải lên: 16/11/2017, 15:56

... https://testbanku.eu/Test-Bank-for-Fundamentals -of- Corporate- Finance- 10th- Edition- by-Ross Downloaded by Pham Quang Huy (ebook4you.online@gmail.com) lOMoARcPSD|3280145 2.  Which one of the following terms is defined as the mixture of a ... https://testbanku.eu/Test-Bank-for-Fundamentals -of- Corporate- Finance- 10th- Edition- by-Ross Downloaded by Pham Quang Huy (ebook4you.online@gmail.com) lOMoARcPSD|3280145 8.  Which one of the following terms is defined as a conflict of interest ...  board of directors.    B  chairman of the board   C chief executive officer.    D president   E  vice president of finance     13. Which one of the following correctly defines the upward chain of

Ngày tải lên: 18/11/2020, 17:55

... “Economics and Ethics: The Case of Salomon Brothers,” Journal of Applied Corporate Finance (Summer 1992), pp 23–28 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value Present Value ... pessimistic Forecasts of expected payoffs are correct on average 15 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition 16 PART I I Value Present Value and the Opportunity Cost of Capital © ... Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value Present Value and the Opportunity Cost of Capital © The McGraw−Hill Companies, 2003 COMPANIES INVEST IN a variety of real assets...

Ngày tải lên: 06/07/2014, 08:20

... $1.16 by the end of two years The present value of your year-2 cash flow equals PV ϭ C2 100 ϭ ϭ $86.21 11 ϩ r2 11.0772 33 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition 34 I Value ... the binomial method? Find out in the next episode of The Jones Family, Incorporated Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value How to Calculate Present Values CHAPTER ... Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value How to Calculate Present Values CHAPTER © The McGraw−Hill Companies, 2003 How to Calculate Present Values an immediate profit on...

Ngày tải lên: 06/07/2014, 08:20

... value of the stream of pershare dividends Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value © The McGraw−Hill Companies, 2003 The Value of Common Stocks CHAPTER The Value of ... value of the investment as of t ϭ is NPV1 ϭ Ϫ 3.33 ϩ 83 ϭ $2.22 15 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value © The McGraw−Hill Companies, 2003 The Value of Common ... and profitability in Chapter 12 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value The Value of Common Stocks CHAPTER © The McGraw−Hill Companies, 2003 The Value of Common...

Ngày tải lên: 06/07/2014, 08:20

... It is the expected rate of return offered by other assets equivalent in risk to the project being evaluated Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value © The McGraw−Hill ... and E Solomon, “The Arithmetic of Capital Budgeting,” Journal of Business 29 (April 1956), pp 124–129 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value © The McGraw−Hill ... dangers here The book rate of return may not be a good measure of true profitability It is also an average across all of the firm’s activities The average profitability of past investments is not...

Ngày tải lên: 06/07/2014, 08:20

... The French tax rate is made up of a basic corporate tax rate of 33.3 percent plus a surtax of 3.33 percent Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value Making Investment ... Lockheed’s TriStar: An Application of Financial Theory,” Journal of Finance, 28 (September 1973), pp 821–838 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value © The McGraw−Hill ... see E Dimson and P R Marsh, Cases in Corporate Finance (London: Wiley International, 1987) Sorry Brealey−Meyers: Principles of Corporate Finance, Seventh Edition I Value © The McGraw−Hill Companies,...

Ngày tải lên: 06/07/2014, 08:20

... run off the top of the page Brealey−Meyers: Principles of Corporate Finance, Seventh Edition II Risk © The McGraw−Hill Companies, 2003 Introduction to Risk, Return, and the Opportunity Cost of ... rate of growth on stocks and the interest rate As we explained above, this is not an appropriate measure of the cost of capital 157 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition ... Ruback, “The Valuation of Cash Flow Forecasts: An Empirical Analysis,” Journal of Finance 50 (September 1995), pp 1059–1093 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition II Risk...

Ngày tải lên: 06/07/2014, 08:20

... risk of such a portfolio? We know that thanks to diversification the portfolio risk is less than the average of the risks of the Brealey−Meyers: Principles of Corporate Finance, Seventh Edition ... review of the evidence on the CAPM, see J H Cochrane, “New Facts in Finance, ” Journal of Economic Perspectives 23 (1999), pp 36–58 Brealey−Meyers: Principles of Corporate Finance, Seventh Edition ... expectations, but they also embody lots of “noise”—the steady flow of surprises that conceal whether on av- Brealey−Meyers: Principles of Corporate Finance, Seventh Edition II Risk © The McGraw−Hill...

Ngày tải lên: 06/07/2014, 08:20