Bienvenue chez nous!
Logo Ex Libris

Cost of Capital in Investment Decisions

  • Couverture cartonnée
  • 96 Nombre de pages
Which cost of capital should I use when valuing an investment? The aim of this book is to provide an answer for corporate finance ... Lire la suite
CHF 65.00
Habituellement expédié sous 3 à 4 jours ouvrés.

Description

Which cost of capital should I use when valuing an investment? The aim of this book is to provide an answer for corporate finance managers, industrial managers, MBA or finance students who have faced this very dilemma. Finance theory explicitly advocates that firms use a project-specific discount rate when valuing investment projects, or at least a rate specially tailored to each division within a multidivisional firm. Practitioners and scholars have designed a significant number of methods to compute such specific costs of capital ranging from high-flying approaches to very operational methods. And yet, in a recent survey of US firms, Graham and Harley (2001) showed that nearly 60% of responding companies said they use a single, company-wide discount rate to evaluate new investment projects. The yawning gap between corporate finance theory and in-company finance practices will be illustrated by a technical study of the varied approaches and an exploration of past and current business practices.

Auteur

Edouard de Mézerac specialized in Corporate Finance, and holds a Master's degree from HEC-Paris. He is currently working for the management consulting firm Oliver Wyman in Paris.



Texte du rabat

"Which cost of capital should I use when valuing an investment?" The aim of this book is to provide an answer for corporate finance managers, industrial managers, MBA or finance students who have faced this very dilemma. Finance theory explicitly advocates that firms use a project-specific discount rate when valuing investment projects, or at least a rate specially tailored to each division within a multidivisional firm. Practitioners and scholars have designed a significant number of methods to compute such specific costs of capital ranging from high-flying approaches to very operational methods. And yet, in a recent survey of US firms, Graham and Harley (2001) showed that nearly 60% of responding companies said they use a single, company-wide discount rate to evaluate new investment projects. The yawning gap between corporate finance theory and in-company finance practices will be illustrated by a technical study of the varied approaches and an exploration of past and current business practices.

Détails sur le produit

Titre: Cost of Capital in Investment Decisions
Sous-titre: From Theory to Practice
Auteur:
Code EAN: 9783639161847
ISBN: 978-3-639-16184-7
Format: Couverture cartonnée
Genre: Economie
nombre de pages: 96
Poids: 144g
Taille: H5mm x B220mm x T150mm
Année: 2012