Risk, Return, Portfolio Theory and CAPM . TIP If you do not understand anything, ask me!. Where does the discount rate (for stock valuation) come from?. So far,. We have taken the discount rate as given.

ByChapter Six. Discounted Cash Flow Valuation. Key Concepts and Skills. Be able to compute the future value of multiple cash flows Be able to compute the present value of multiple cash flows Be able to compute loan payments Be able to find the interest rate on a loan

ByChapter 5: Stock Valuation. Professor Thomson Finance 3013. Debt vs. Equity: Debt. Debt securities represent a legally enforceable claim. Debt securities offer fixed or floating cash flows. Bondholders don’t have any control over how the company is run.

ByTHE LOCAL PROPERTY TAX. Advantages Disadvantages Proper Use. ADVANTAGES of the PROPERTY TAX I.

ByChapter Six. Discounted Cash Flow Valuation. Key Concepts and Skills. Be able to compute the future value of multiple cash flows Be able to compute the present value of multiple cash flows Be able to compute loan payments Be able to find the interest rate on a loan

ByChapter 11 – Cost-Benefit Analysis. Public Economics. Introduction. Cost-benefit analysis is a set of practical procedures for guiding public expenditure decisions. Present Value. Project evaluation usually requires comparing costs and benefits from different time periods

ByCareer Opportunities in Finance. Money and capital markets Investments Financial management. Responsibility of the Financial Staff. Maximize stock value by: Forecasting and planning Investment and financing decisions Coordination and control Transactions in the financial markets

ByHow to Value Bonds and Stocks. What is a Bond?. A bond is a legally binding agreement between a borrower and a lender. Bond Terminology. Face value (F) or Principal For a corporate bond this is generally $1,000 Coupon rate This is a Stated Annual rate Determines the coupon payment

ByChapter Six. Discounted Cash Flow Valuation. Chapter Outline. Future and Present Values of Multiple Cash Flows Valuing Level Cash Flows: Annuities and Perpetuities Comparing Rates: The Effect of Compounding Loan Types and Loan Amortization. 0. 1. 2. 3. 7,000. 4,000. 4,000.

ByChapter 10. Capital Budgeting . Topics. Overview and “vocabulary” Methods NPV IRR, MIRR Profitability Index Payback, discounted payback Unequal lives Economic life Optimal capital budget. CAPITAL BUDGETING. Why?. Business Application.

ByChapter 4. Stock And Bond Valuation. Professor Del Hawley Finance 634. Fall 2003. Valuation Fundamentals. Value of any financial asset is the PV of future cash flows Bonds: PV of promised interest & principal payments Stocks: PV of all future dividends

ByCapital Budgeting Techniques. What is Capital Budgeting ?. The process of identifying, analyzing, and selecting investment projects whose returns (cash flows) are expected to extend beyond one year. Project Classifications.

ByFin 4201/8001. Topic 3: The Toolbox. Buffett’s toolbox. Business tenets Management tenets Financial tenets Market tenets. Business tenets. Three basic characteristics of the business itself Is the business simple and understandable? Does the business have a consistent operating history?

ByCorporate Finance. Class 01 Introduction Daniel Sungyeon Kim Peking University HSBC Business School. Class Outline. Introduction Syllabus Organizational forms Review financial tools Valuation basics Time value of money Inflation. Part 1 Outline. Syllabus Organizational forms.

ByWHAT TO DISCOUNT. 1.Only cash flow is relevant. 2. Estimate incremental (after tax) cash flows. 3. Be consistent in treatment of inflation. 4. Recognize project interactions. 10%. MIRR =16.5%. Crossover Point = 8.7%. 1. Estimate the Cash flows. 2. Assess the riskiness of the cash flows.

ByUpdated: 15 May, 2007 Lecture Notes ECON 622: ECONOMIC COST-BENEFIT ANALYSIS Lecture 12. Evaluation of Investments in Education. Economic Evaluation of Education Projects. Educational projects may have many types of components, with benefits measurable in both monetary and nonmonetary terms

ByMultiple owners. Kinds of Property. Real; land and whatever is built on it or attached to it Personal Tangible ; livestock, machinery, … Intangible; stocks, bonds, bank accounts, …. Elements of Ownership. Degree of interest or control; bundle of rights fee simple, life estates, etc.

ByBasics of Spectrum . Workshop on Spectrum Management India International Centre, New Delhi 29.4.2013. Discussion Points. What is ‘Spectrum’? Characteristics of Radio Spectrum. Is Radio Spectrum a ‘scarce resource’? Uses of Radio Spectrum. Value of Radio Spectrum

ByChapter 7 Equity Valuation. What determines the value of stock? Old ideas are still new. Chapter 7 Outline. 7.1 Equity Securities. A corporation will issue an equity security , which is a financial instrument that represents ownership in the corporation.

ByValuing Hard to Value Assets: Calculating the “Fair Value” of Structured Credit Assets, with a Focus on ABS and CDOs of ABS. Foundation for Accounting Education 2008 Banking Conference September 25, 2008 Rick Grove Rutter Associates, New York. Valuing Hard to Value Assets.

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