Book Description
Valuation Methods and Shareholder Value Creation provides a comprehensive examination of valuation tools and guidance for analyzing and valuing a business. It covers the basics of valuation methods and shareholder value creation in addition to rigorous approaches to discounted cash flow valuation and real options for valuing a company.
By examining eight different methods of discounted cash flow valuation and discussing the pros and cons of each method, Fernández offers thorough, accessible coverage of corporate valuation. With examples and case studies from international markets, this book provides well-structured guidance for students and executives alike.
* Highlights quantitative analyses of firm value
* Emphasizes qualitative management assessments
* Integrates data from international companies
Customer Reviews:
A great book with excellent support web site.......2002-11-18
A great book with clear explanations and excellent support web site.
The book describes many tools on how to do the valuation (DCF, ratios, real options etc.). I particularly like the explanation of eight models of DCF. Chapters 19, 20 and 21 are the best ones I have ever read about discounted cash flow valuation.
For finance professionals, "Valuation methods and shareholder value creation" is a wonderful book to study, to keep and to look up for reference. I strongly recommend investment bankers (and clients), finance managers and MBAs to have one.
It explains Adjusted Present Value much better than Copelandýs and Damodaran's books. Now, I understand it!!!
All the valuation methods that you ever wanted to read about.......2002-11-14
In his new book on valuation, Pablo Fernandez presents and analyzes a variety of valuation methods. The book is comprehensive in covering ALL of the methods and contains a wealth of information, data and examples on the relevant topics. The book is a valuable source for obtaining details on the different methods. However, there is a risk, although small, that the number of trees may overwhelm the reader and the reader may miss the forest.
In Part III, which is the theoretical part of the book, he examines all the various approaches for Discounted Cash Flow Valuation. In particular, Pablo Fernandez makes the unusual claim that for FCF in perpetuity with a constant growth rate of g, the discounted value of the tax shield (DVTS) is not the present value of the tax shield (PVTS). Furthermore, he defines the PVTS as follows: PVTS = T*D*Ku/(Ku - g). At first sight, this definition of the PVTS seems very strange. To obtain this result, which is in direct contradiction with the formulas in Copeland's book, he assumes that the return to levered equity Ke does not depend on whether the growth rate is zero or nonzero. This departure from the accepted definition of the PVTS may surprise those readers who are familiar with other books on valuation.
In common with other books on valuation, the examples on the cost of capital are restricted to cash flows in perpetuity. Without providing the necessary justification, the author assumes that the formulas for the cost of capital carry over to finite cash flows. The book would be strengthened if there were numerical examples that linked the discussion on the cost of capital directly to the finite cash flow statements that are derived from the usual financial statements.
Average customer rating:
- empirical research in capital market
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Empirical Research in Capital Markets (Mcgraw-Hill Series in Advanced Topics in Finance and Accounting)
G. William Schwert , and
Clifford W. Smith
Manufacturer: Mcgraw-Hill College
ProductGroup: Book
Binding: Paperback
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| Introduction
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ASIN: 007056079X |
Customer Reviews:
empirical research in capital market.......2001-09-27
capital asset pricing model, arbitrage method, etc
Average customer rating:
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Empirical Research on the German Capital Market (Contributions to Management Science)
Manufacturer: Physica-Verlag Heidelberg
ProductGroup: Book
Binding: Paperback
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ASIN: 3790811939 |
Book Description
This collection of fifteen original articles results from a cooperative intensive program of research on the German capital market. The program objectives included the development of expertise in modern empirical methods in financial economics and the derivation of results that might be specific to the German capital market.
The four parts of the book are dedicated to:
- problems of market structure and organization
- information and capital market
- risk and return
- futures and options
Altogether, the book gives an overview of empirical research on capital markets in Germany and helps to understand their nature. It also shows the application of modern techniques in financial research.
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Foundations of empirical economic research
Leo H Klaassen
Manufacturer: Netherlands Economic Institute
ProductGroup: Book
Binding: Unknown Binding
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Emigration & Immigration
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ASIN: B0007AYB2Q |
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Research paper
Bruno H Solnik
Manufacturer: Stanford University. Graduate School of Business
ProductGroup: Book
Binding: Unknown Binding
ASIN: B0006WIQYE |
Average customer rating:
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Logical Models of Legal Argumentation
Manufacturer: Springer
ProductGroup: Book
Binding: Hardcover
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ASIN: 0792344138 |
Book Description
In the study of forms of legal reasoning, logic and argumentation theory long followed separate tracks. `Legal logicians' tended to focus on a deductive reconstruction of justifying a decision, disregarding the dialectical process leading to the chosen justification. Others instead emphasized the adversarial and discretionary nature of legal reasoning, involving reasonable evaluation of alternative choices, and the use of analogical reasoning.
Recently, however, developments in Artificial Intelligence and Law have paved the way for overcoming this separation. Logic has widened its scope to defensible argumentation, and informal accounts of analogy and dialectics have inspired the construction of computer programs. Thus the prospect is emerging of an integrated logical and dialectical account of legal argument, adding to the understanding of legal reasoning, and providing a formal basis for computer tools that assist and mediate legal debates while leaving room for human initiative.
This book presents contributions to this development. From a logical point of view it covers topics such as evaluating conflicting arguments, weighing reasons, modelling legal disputes as a dialogue game, the role of the burden of proof, the relation between principles, rules, reasons and facts, and the relation between deductive and nondeductive arguments. Written by leading scholars in the field and building on recent developments in logic and Artificial Intelligence, the chapters provide a state-of-the-art account of research on the logical aspects of legal argument.
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Bacillus thuringiensis, An Environmental Biopesticide: Theory and Practice
Jenny S. Cory
Manufacturer: John Wiley & Sons
ProductGroup: Book
Binding: Hardcover
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ASIN: 0471933066 |
Book Description
Devoted to the use and applications of this biological control agent. Bacillus Thuringiensis is rapidly becoming an important determinant for a wide variety of insect pests. There is an increasing interest in underdeveloped nations in establishing B. T. production facilities as an alternative to importing expensive chemical insecticides.
Book Description
The acknowledged leader and standard in general chemistry, this book maintains its effective and proven features—clarity of writing, scientific integrity, currency, strong exercises, visual emphasis and consistency in presentation. It offers readers an integrated educational solution to the challenges of the learning with an expanded media program that works in concert with the book, helping them to approach problem solving, visualization, and applications with greater success.
Chapter topics cover: Matter and Measurement; Atoms, Molecules, and Ions; Stoichiometry: Calculations with Chemical Formulas and Equations; Aqueous Reactions and Solution Stoichiometry; Thermochemistry; Electronic Structure of Atoms; Periodic Properties of the Elements; Basic Concepts of Chemical Bonding; Molecular Geometry and Bonding Theories; Gases; Intermolecular Forces, Liquids, and Solids; Modern Materials; Properties of Solutions; Chemical Kinetics; Chemical Equilibrium; Acid-Base Equilibria; Additional Aspects of Equilibria; Chemistry of the Environment; Chemical Thermodynamics; Electrochemistry; Nuclear Chemistry; Chemistry of the Nonmetals; Metals and Metallurgy; Chemistry of Coordination Compounds; and The Chemistry of Life: Organic and Biological Chemistry.
For individuals interested in the study of general chemistry.
Customer Reviews:
Fantastic textbook.......2007-09-01
I used this textbook for my AP (high school but college-level) Chemistry course, and found it to be delightfully clear and simple reading. Everything is explained to be perfectly understandable, and after simply reading the book through and doing the exercise problems (as assigned by my teacher), I found the actual AP exam to be literally one of the easiest tests I have ever taken in my life.
Actually, in fact, I barely paid any attention in class; I simply read this book and paid half-attention in class, and simply by reading this book throughly, I was one of the best students in the class.
It is clear why my teacher said she selected this book as the best she had seen.
The best........2007-05-23
I definitely love to learn, but it's always a pain when the book is poorly written, this is not the case with The Central Science by Theodore Brown. I thank you and your team for writing an awesome book that students can understand. I will definitely recommend this book, and I actually want to convince the chemistry dept. at my school to change their textbook ;) Simply the best, thanks!
edit: I have been reading many of the comments left by other users saying this book is not for beginners ... and it's true. I suggest you take the class seriously and read this book thoroughly and do all the red exercises, especially the additional and integrative exercises. If you can do these exercises, I promise you'll do fine.
Excellent textbook.......2007-01-17
I am currently taking an AP chemistry course in high school and this book is really great. It explains the topics in good detail, but sticks to the point and doesn't start talking about some other topic. The explanations are really thorough and they have some really good 3-D images that help you visualize molecules better (this is useful especially for molecular bonding). Another great feature of this book is the summary they give at the end of each chapter and the numerous sample problems with FULL EXPLANATIONS for each step you take. Unlike other chemistry books that are vague and confusing, this textbook is able to thoroughly explain subjects without all the confusing terms that you'll find in other chemistry books.
Excellent Text.......2006-07-06
I used this book in my General Chem I class a couple of years back and have since used it as a resource for my organic, biochem classes and MCAT review. The book was very easy to read compared to others and the examples were straight forward and easy to follow. The authors also attempted to include scientific/medical relevance to some of the issues covered. The most difficult chapter in the book to read is quantum theory; however, this topic is typically difficult for anyone to understand at first.
This book will be going to medical school with me this fall for sure.
Helpful.......2006-03-01
This book has been a big help to me as a reference source to fall back on. especially the CD that came with it. This book covers everything from thermo chemistry to organic chemistry. The website is somewhat insightful as well.
Product Description
This book guides students, chapter by chapter, in the mathematics that are used in the ninth edition of CHEMISTRY, THE CENTRAL SCIENCE by Brown, LeMay and Bursten. The math skills for each chapter are outlined and examples are worked in the book. Mastery of the material presented in this toolkit will enhance your ability to work problems in general chemistry. The book includes a SELF TETS FOR MATH SKILLS to help you assess your skills.
Average customer rating:
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Impacts of Climate Change and Climate Variability on Hydrological Regimes (International Hydrology Series)
Manufacturer: Cambridge University Press
ProductGroup: Book
Binding: Paperback
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Rivers
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ASIN: 0521543312 |
Book Description
Water is going to be one of the key, if not the most critical, environmental issues in the twenty-first century because of the escalation in socio-economic pressures on the environment in general. Any future climate change or climate variability will only accentuate such pressures. This volume initially follows the perspective of the Intergovernmental Panel on Climate Change (IPCC) to infer possible changes in hydrological regimes and water quality based on the outputs from various scenarios of General Circulation Models (GCMs). In subsequent chapters, the possible effects of climate change on the hydrology of each of the continents is examined. The book concludes with an overview of hydrological models for use in the evaluation of the impacts of climate change. It will provide a valuable guide for environmental planners and policy-makers, and will also be of use to all students and researchers interested in the possible effects of climate change.
Average customer rating:
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Metal Vapour Lasers: Physics, Engineering and Applications
Christopher E. Little
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover
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Lasers
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Molecular Physics
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ASIN: 0471973874 |
Book Description
Metal Vapour Lasers Christopher E. Little University of St Andrews, St Andrews, Scotland Since the first successful demonstration of a metal vapour laser (MVL) in 1962, this class of laser has become widely used in a broad range of fields including precision materials processing, isotope separation and medicine. The MVLs that are used today have a range of impressive characteristics that are not readily available using other technologies. In particular, the combination of high average output powers, pulse recurrence frequencies and beam quality available from green/yellow Cu vapour lasers (CVLs) and Cu bromide lasers, coupled with the high-quality, multiwatt ultraviolet (265-289 nm) radiation that can be produced using simple nonlinear optical techniques, means that Cu lasers will continue to be important for many years. Metal Vapour Lasers covers all the most commercially important and scientifically interesting pulsed and continuous wave (CW) gas-discharge MVLs, and includes device histories, operating characteristics, engineering, kinetics, commercial exploitation and applications. Short descriptions of gas discharges and excitation techniques make this volume self-consistent. A comprehensive bibliography is also provided. The greater part of this book is devoted to CVLs and their variants, including new sealed-off, high-power 'kinetically enhanced' CVLs and Cu bromide lasers. However, many other self-terminating MVLs are also discussed, including the red AuVL, green/infrared MnVL and infrared BaVL. Pulsed, high-gain, high average power lasers in the UV/violet (373.7, 430.5 nm) spectral regions are represented by Sr¯+ and Ca¯+ discharge-afterglow recombination lasers. The most commercially successful of the MVLs - the CW, UV/blue cataphoretic He-Cd¯+ ion laser - is described. Hollow cathode lasers are represented in two guises: 'white light' (blue/green/red) He-Cd¯+ ion lasers and UV/infrared Ne/He-Cu¯+ ion lasers. This unique volume is an essential reference source for all those working on metal vapour lasers, and all those who use them, from postgraduate students through to experienced scientists and engineers. It will also be extremely useful to all those working in other gas laser technologies, and in gas discharge physics.
Average customer rating:
- Timeless Tales 3 stars review
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An American Redneck in Hong Kong
Michael LaRocca
Manufacturer: NovelBooks, Inc.
ProductGroup: Book
Binding: Paperback
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ASIN: 1591050367 |
Book Description
Can a "serious" author venture into humor without destroying his good name? I suppose we'll find out. AN AMERICAN REDNECK IN HONG KONG is a collection of true dog stories, cat stories, horse stories, hog stories, redneck stories, and Hong Kong stories.
Customer Reviews:
Timeless Tales 3 stars review.......2003-10-09
by Brett Scott
I'd like to meet Michael LaRocca- he seems like a great person. I admire those who turn adversity into something positive. After losing two very important people in his life, his mother and his brother, Michael can still see humor in the world. I selected American Redneck in Hong Kong to review because the title indicated it would be something humorous. I wasn't disappointed, but I found that the vignettes, or short stories, as Michael prefers to call them were more entertaining than funny. I was delighted to see that someone else survived bad luck with pets, and I developed an immediate admiration for Michael because he continued to love and provide homes for them. I never knew I would read a book that would give me so much information about boar masturbation and sow fertilization, nor did I ever imagine knowing so much about the thickness of the embryonic sac of a colt, let alone what caused it. Michael has certainly had a well-rounded life, and I'm still amazed that someone who held a boar's penis in his hands on a daily basis ended up teaching conversational English in China. Michael Larocca taught me a lot in his stories... I learned that I don't want to go to Hong Kong because I most likely wouldn't be able to find clothes (too fat) or shoes (big feet) to fit me, and I wouldn't be very good at squatting over a hole in the floor rather than sitting on a toilet. I'm not a very good passenger either, so I need to be where I can drive my own car. Most of all, I learned, I'm happy right here in America, but I applaud Michael for living out his dreams abroad. An American Redneck in Hong Kong is an entertaining read and I may even look for his first book to give me some more background on this seemingly likeable individual.
Books:
- Valuing Accounting Practices
- West Federal Taxation 2006: Business Entities, Professional Version (West Federal Taxation Business Entities)
- When Lean Enterprises Collide: Competing Through Confrontation
- Wiley CPA Examination Review 2005-2006, 2 Volume Set (Wiley Cpa Examination Review)
- Working Papers Chapters 1-17 for Fundamentals of Accounting
- 6 Hour Guide to Protecting Your Assets: How to Protect Your Hard Earned Assets From Creditors and Claimants
- A Guide to Consulting Services for Emerging Healthcare Organizations
- Accounting & Auditing Research: A Practical Guide
- Accounting Dictionary: English-Spanish, Spanish-English, Spanish-Spanish
- Accounting for Fixed Assets
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