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Produktbild: Cost of Capital

Cost of Capital Applications and Examples. + Website

Aus der Reihe Wiley Finance Editions

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Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

21.04.2014

Verlag

John Wiley & Sons

Seitenzahl

1344

Maße (L/B/H)

18.2/25.6/7.9 cm

Gewicht

2544 g

Auflage

5th edition

Sprache

Englisch

ISBN

978-1-118-55580-4

Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

21.04.2014

Verlag

John Wiley & Sons

Seitenzahl

1344

Maße (L/B/H)

18.2/25.6/7.9 cm

Gewicht

2544 g

Auflage

5th edition

Sprache

Englisch

ISBN

978-1-118-55580-4

Herstelleradresse

Libri GmbH
Europaallee 1
36244 Bad Hersfeld
DE

Email: GPSR Kontakt

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Die Leseprobe wird geladen.
  • Produktbild: Cost of Capital
  • About the Authors xiii

    Foreword xxiii

    Preface xxv

    Acknowledgments xxix

    PART ONE Cost of Capital Basics 1

    CHAPTER 1 Defining Cost of Capital 3

    CHAPTER 2 Introduction to Cost of Capital Applications: Valuation, Project Selection, and Ratemaking 11

    CHAPTER 3 Net Cash Flow: The Preferred Measure of Economic Income 17

    APPENDIX 3A Alternative Measures of Economic Income 30

    CHAPTER 4 Discounting versus Capitalizing 36

    APPENDIX 4A Equivalency of Capitalizing Residual Income 56

    CHAPTER 5 Discounting-Beyond the Basics 60

    CHAPTER 6 Relationship between Risk and the Cost of Capital 70

    PART TWO Estimating the Cost of Equity Capital 89

    CHAPTER 7 Risk-free Rate 91

    CHAPTER 8 Equity Risk Premium 110

    APPENDIX 8A Deriving ERP Estimates 141

    APPENDIX 8B Other Sources of ERP Estimates 173

    CHAPTER 9 Build-up Method 177

    CHAPTER 10 Capital Asset Pricing Model 189

    CHAPTER 11 Beta: Differing Definitions and Estimates 202

    APPENDIX 11A Examples of Computing OLS Beta, Sum Beta, and Full-information Beta Estimates 225

    APPENDIX 11B Estimating Beta: Interpreting Regression Statistics 234

    CHAPTER 12 Unlevering and Levering Equity Betas 243

    CHAPTER 13 Criticism of CAPM and Beta versus Other Risk Measures 269

    APPENDIX 13A Example of Computing Downside Beta Estimates 298

    CHAPTER 14 Size Effect 301

    CHAPTER 15 Criticisms of the Size Effect 331

    APPENDIX 15A Other Data Issues Regarding the Size Effect 363

    CHAPTER 16 Company-specific Risk 372

    CHAPTER 17 Distressed Businesses 400

    APPENDIX 17A Cost of Capital and the Valuation of Worthless Stock 428

    CHAPTER 18 Other Methods of Estimating the Cost of Equity Capital 444

    CHAPTER 19 Using the Duff & Phelps Risk Premium Report Data 471

    APPENDIX 19A Examples Using the Duff & Phelps Risk Premium Report Data 499

    PART THREE Estimating the Overall Cost of Capital 519

    CHAPTER 20 Other Components of a Business's Capital Structure 521

    CHAPTER 21 Weighted Average Cost of Capital 544

    APPENDIX 21A Iterative Process Using CAPM to Calculate the Cost of Equity Component of the Weighted Average Cost of Capital 576

    PART FOUR Estimating the Cost of Capital-Non-Freely Traded Interests 609

    CHAPTER 22 Handling Discounts for Lack of Marketability and Liquidity for Minority Interests in Operating Businesses 611

    CHAPTER 23 Cost of Capital of Family Holding Company Interests 630

    CHAPTER 24 The Private Company Discount for Operating Businesses 650

    CHAPTER 25 Cost of Capital of Interests in Pass-through Entities 663

    CHAPTER 26 Relationship between Risk and Returns in Venture Capital and Private Equity Investments 680

    CHAPTER 27 Cost of Capital for Closely Held Businesses 693

    PART FIVE Corporate Finance Officers: Using Cost of Capital Data 711

    CHAPTER 28 Capital Budgeting and Feasibility Studies 713

    CHAPTER 29 Cost of Capital for Divisions and Reporting Units 722

    CHAPTER 30 Cost of Capital for Fair Value Reporting of Intangible Assets 757

    CHAPTER 31 Cost of Capital in Evaluating Mergers and Acquisitions 779

    CHAPTER 32 Cost of Capital in Transfer Pricing 793

    APPENDIX 32A Cost of Capital in Transfer Pricing Example 822

    CHAPTER 33 The Role of the Cost of Capital in EVA and in Corporate Value-Based Management 825

    PART SIX Other Cost of Capital Considerations 839

    CHAPTER 34 Estimating Economic Income 841

    CHAPTER 35 Minority versus Control Implications of Cost of Capital Data 861

    CHAPTER 36 How Cost of Capital Relates to the Excess Earnings Method of Valuation 873

    CHAPTER 37 Adjusting the Discount Rate to Alternative Economic Income Measures 881

    PART SEVEN Considerations in Special Applications 897

    CHAPTER 38 How Courts View Cost of Capital 899

    CHAPTER 39 Global Cost of Capital Models 1011

    CHAPTER 40 Cost of Capital of Real Property-Individual Assets 1052

    APPENDIX 40A Valuing Real Property 1076

    CHAPTER 41 Cost of Capital of Real Estate Entities 1084

    APPENDIX 41A Valuing Real Estate Entities 1122

    PART EIGHT Case Studies 1129

    CHAPTER 42 Cost of Capital for a Mid-Sized Company 1131

    APPENDIX 42A Report for Cost of Capital for a Mid-Sized Company 1138

    CHAPTER 43 Cost of Capital for a Smaller-Sized Company 1162

    APPENDIX 43A Report for Cost of Capital for a Smaller-Sized Company 1168

    PART NINE Advice to Practitioners 1179

    CHAPTER 44 Common Errors in Estimation and Use of Cost of Capital 1181

    CHAPTER 45 Advice on Dealing with Cost of Capital Issues 1199

    APPENDIX I Bibliography 1213

    APPENDIX II Data Resources 1239

    APPENDIX III Glossary of Cost of Capital Terms 1253

    About the Website 1266

    Index of Cases 1267

    Index 1271