The real cost of capital: a business field guide to better financial decisions
Gespeichert in:
1. Verfasser: | |
---|---|
Format: | Buch |
Sprache: | English |
Veröffentlicht: |
London [u.a.]
Financial Times/Prentice Hall/Pearson Education
2004
|
Schriftenreihe: | Financial Times series
|
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Beschreibung: | Includes index. - Erscheint: April 2004 |
Beschreibung: | XVIII, 291 S. |
ISBN: | 027368874X |
Internformat
MARC
LEADER | 00000nam a2200000zc 4500 | ||
---|---|---|---|
001 | BV023275879 | ||
003 | DE-604 | ||
005 | 20080609 | ||
007 | t | ||
008 | 080424s2004 xxu |||| 00||| eng d | ||
010 | |a 2004043637 | ||
020 | |a 027368874X |c alk. paper |9 0-273-68874-X | ||
035 | |a (OCoLC)70309607 | ||
035 | |a (DE-599)BVBBV023275879 | ||
040 | |a DE-604 |b ger |e aacr | ||
041 | 0 | |a eng | |
044 | |a xxu |c US | ||
049 | |a DE-20 |a DE-188 | ||
050 | 0 | |a HG4026 | |
082 | 0 | |a 658.152 | |
082 | 0 | |a 658.15/2 |2 22 | |
084 | |a QP 720 |0 (DE-625)141929: |2 rvk | ||
100 | 1 | |a Ogier, Tim |e Verfasser |4 aut | |
245 | 1 | 0 | |a The real cost of capital |b a business field guide to better financial decisions |c Tim Ogier, John Rugman and Lucinda Spicer |
264 | 1 | |a London [u.a.] |b Financial Times/Prentice Hall/Pearson Education |c 2004 | |
300 | |a XVIII, 291 S. | ||
336 | |b txt |2 rdacontent | ||
337 | |b n |2 rdamedia | ||
338 | |b nc |2 rdacarrier | ||
490 | 0 | |a Financial Times series | |
500 | |a Includes index. - Erscheint: April 2004 | ||
650 | 4 | |a Unternehmen | |
650 | 4 | |a Business enterprises |x Finance | |
650 | 4 | |a Corporations |x Finance | |
650 | 0 | 7 | |a Kapitalkosten |0 (DE-588)4135348-1 |2 gnd |9 rswk-swf |
650 | 0 | 7 | |a Investitionsentscheidung |0 (DE-588)4162244-3 |2 gnd |9 rswk-swf |
689 | 0 | 0 | |a Kapitalkosten |0 (DE-588)4135348-1 |D s |
689 | 0 | |5 DE-604 | |
689 | 1 | 0 | |a Investitionsentscheidung |0 (DE-588)4162244-3 |D s |
689 | 1 | 1 | |a Kapitalkosten |0 (DE-588)4135348-1 |D s |
689 | 1 | |5 DE-188 | |
700 | 1 | |a Rugman, John |e Sonstige |4 oth | |
700 | 1 | |a Spicer, Lucinda |e Sonstige |4 oth | |
856 | 4 | 2 | |m SWB Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016460775&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
999 | |a oai:aleph.bib-bvb.de:BVB01-016460775 |
Datensatz im Suchindex
_version_ | 1804137592080302080 |
---|---|
adam_text | CONTENTS AUTHORS ACKNOWLEDGEMENTS XI PUBLISHER S ACKNOWLEDGEMENTS XIII
PROLOGUE - THE COST OF CAPITAL WORLD IS A REAL WORLD XV RISK AND RETURN
REVISITED 1 INTRODUCTION 2 TOWARDS A DEFINITION OF THE COST OF CAPITAL 4
UNDERSTANDING THE PRINCIPLES THAT DETERMINE THE COST OF CAPITAL 8
INTRODUCING RISK 10 THE RELATIONSHIP BETWEEN RISK AND RETURN 17
ARBITRAGE AND RATIONALITY 21 BEHAVIORAL ASPECTS OF THE COST OF CAPITAL
24 KEY POINTS FROM THE CHAPTER 26 NOTES 28 CAPM @ WORK 29 INTRODUCTION
30 RISK-FREE RATE 31 BETA 42 SO, WHOSE BETA DO YOU BELIEVE? 55
COMPARATOR ANALYSIS: FINDING A PEER 56 KEY POINTS FROM THE CHAPTER 59
NOTES 60 THE GREAT EMRP DEBATE 63 INTRODUCTION 64 THE HISTORIC APPROACH
65 FORWARD-LOOKING APPROACHES 73 SOME TENTATIVE CONCLUSIONS FOR
DEVELOPED MARKETS 78 KEY POINTS FROM THE CHAPTER 78 NOTE 79 CAPM IS
DEAD: LONG LIVE CAPM 81 INTRODUCTION 82 EXPLANATORY MODELS OF THE COST
OF EQUITY 83 VIII CONTENTS DEDUCTIVE MODELS OF THE COST OF EQUITY 91
SUMMARY OF CHOICE OF MODEL 93 KEY POINTS FROM THE CHAPTER 95 THE COST OF
DEBT AND OPTIMAL CAPITAL STRUCTURE 97 INTRODUCTION 98 THE
CHARACTERISTICS OF DEBT 99 DIFFERENT TYPES OF DEBT FINANCE 103
CALCULATING THE PRE-TAX COST OF DEBT 105 THE TAX SHIELD 116 CAPITAL
STRUCTURE - THE MIX OF DEBT AND EQUITY 118 KEY POINTS FROM THE CHAPTER
130 NOTES 131 INTERNATIONAL WACC AND COUNTRY RISK 133 INTRODUCTION 134
FAMOUS FIVE? 136 THE GLOBAL CAPM APPROACH 137 THE HOME CAPM APPROACH 144
THE FOREIGN CAPM APPROACH 146 THE RELATIVE VOLATILITY APPROACH 147
EMPIRICAL ANALYSIS BASED ON CREDIT SCORES 151 SUMMARY OF VARIOUS MODELS
153 CHOICE OF APPROACH 155 INTERNATIONAL COST OF DEBT AND WACC 157 KEY
POINTS FROM THE CHAPTER 161 NOTES 163 CASH FLOWS, THE DOT.COM BUBBLE,
AND ALL THAT 165 INTRODUCTION 166 RISK, RETURN, AND INVESTMENT DECISIONS
168 THE IMPORTANCE OF EXPECTED CASH FLOWS 171 ALTERNATIVES TO THE NPV
INVESTMENT RULE 174 REAL OPTION VALUATIONS 188 THE VALUATION OF
DOT.CORNS 194 KEY POINTS FROM THE CHAPTER 198 NOTES 199 CONTENTS 8 USING
THE COST OF CAPITAL IN BUSINESS VALUATIONS 201 INTRODUCTION 202
PRACTICAL VALUATION - THE STARTING POINT 203 VALUING BUSINESSES USING
DCF ANALYSIS 204 STANDARD WACC APPROACH 205 FLOWS TO EQUITY CFTE*)
APPROACH 210 ADJUSTED PRESENT VALUE C APV) APPROACH 212 RELAXING THE
ASSUMPTIONS 215 MODIGLIANI-MILLER (MM) WACC APPROACH 217 MILES-EZZELL
(ME) WACC APPROACH 219 THE FORMULAE MUST BE USED CONSISTENTLY 220
CHOOSING THE METHODOLOGY 221 VALUATION WITH PERSONAL TAXES 222 KEY
POINTS FROM THE CHAPTER 223 NOTES 225 9 INTERNATIONAL VALUATION AND
APPRAISAL 227 INTRODUCTION 228 INTERNATIONAL VALUATION APPROACHES 229
IMPLICATIONS OF THE TWO METHODS 230 RECONCILIATION OF THE TWO METHODS
234 STOCK MARKET LISTING CHANGES AND THE COST OF CAPITAL 236 KEY POINTS
FROM THE CHAPTER 240 NOTES 241 10 PREMIA AND DISCOUNTS 243 INTRODUCTION
244 VALUATIONS AND ADJUSTMENTS 245 APPLICATION TO THE COST OF CAPITAL
248 DISCOUNTS FOR LACK OF MARKETABILITY 256 CONTROL PREMIUM 261 SMALL
COMPANY DISCOUNT 266 OTHER ADJUSTMENTS 274 KEY POINTS FROM THE CHAPTER
277 NOTE 278 EPILOGUE 279 INDEX 285
|
adam_txt |
CONTENTS AUTHORS' ACKNOWLEDGEMENTS XI PUBLISHER'S ACKNOWLEDGEMENTS XIII
PROLOGUE - THE COST OF CAPITAL WORLD IS A REAL WORLD XV RISK AND RETURN
REVISITED 1 INTRODUCTION 2 TOWARDS A DEFINITION OF THE COST OF CAPITAL 4
UNDERSTANDING THE PRINCIPLES THAT DETERMINE THE COST OF CAPITAL 8
INTRODUCING RISK 10 THE RELATIONSHIP BETWEEN RISK AND RETURN 17
ARBITRAGE AND RATIONALITY 21 BEHAVIORAL ASPECTS OF THE COST OF CAPITAL
24 KEY POINTS FROM THE CHAPTER 26 NOTES 28 CAPM @ WORK 29 INTRODUCTION
30 RISK-FREE RATE 31 BETA 42 SO, WHOSE BETA DO YOU BELIEVE? 55
COMPARATOR ANALYSIS: FINDING A PEER 56 KEY POINTS FROM THE CHAPTER 59
NOTES 60 THE GREAT EMRP DEBATE 63 INTRODUCTION 64 THE HISTORIC APPROACH
65 FORWARD-LOOKING APPROACHES 73 SOME TENTATIVE CONCLUSIONS FOR
DEVELOPED MARKETS 78 KEY POINTS FROM THE CHAPTER 78 NOTE 79 CAPM IS
DEAD: LONG LIVE CAPM 81 INTRODUCTION 82 EXPLANATORY MODELS OF THE COST
OF EQUITY 83 VIII CONTENTS DEDUCTIVE MODELS OF THE COST OF EQUITY 91
SUMMARY OF CHOICE OF MODEL 93 KEY POINTS FROM THE CHAPTER 95 THE COST OF
DEBT AND OPTIMAL CAPITAL STRUCTURE 97 INTRODUCTION 98 THE
CHARACTERISTICS OF DEBT 99 DIFFERENT TYPES OF DEBT FINANCE 103
CALCULATING THE PRE-TAX COST OF DEBT 105 THE TAX SHIELD 116 CAPITAL
STRUCTURE - THE MIX OF DEBT AND EQUITY 118 KEY POINTS FROM THE CHAPTER
130 NOTES 131 INTERNATIONAL WACC AND COUNTRY RISK 133 INTRODUCTION 134
FAMOUS FIVE? 136 THE GLOBAL CAPM APPROACH 137 THE HOME CAPM APPROACH 144
THE FOREIGN CAPM APPROACH ' 146 THE RELATIVE VOLATILITY APPROACH 147
EMPIRICAL ANALYSIS BASED ON CREDIT SCORES 151 SUMMARY OF VARIOUS MODELS
153 CHOICE OF APPROACH 155 INTERNATIONAL COST OF DEBT AND WACC 157 KEY
POINTS FROM THE CHAPTER 161 NOTES 163 CASH FLOWS, THE DOT.COM BUBBLE,
AND ALL THAT 165 INTRODUCTION 166 RISK, RETURN, AND INVESTMENT DECISIONS
168 THE IMPORTANCE OF EXPECTED CASH FLOWS 171 ALTERNATIVES TO THE NPV
INVESTMENT RULE 174 REAL OPTION VALUATIONS 188 THE VALUATION OF
DOT.CORNS 194 KEY POINTS FROM THE CHAPTER 198 NOTES 199 CONTENTS 8 USING
THE COST OF CAPITAL IN BUSINESS VALUATIONS 201 INTRODUCTION 202
PRACTICAL VALUATION - THE STARTING POINT 203 VALUING BUSINESSES USING
DCF ANALYSIS 204 STANDARD WACC APPROACH 205 FLOWS TO EQUITY CFTE*)
APPROACH 210 ADJUSTED PRESENT VALUE C'APV) APPROACH 212 RELAXING THE
ASSUMPTIONS 215 MODIGLIANI-MILLER (MM) WACC APPROACH 217 MILES-EZZELL
(ME) WACC APPROACH 219 THE FORMULAE MUST BE USED CONSISTENTLY 220
CHOOSING THE METHODOLOGY 221 VALUATION WITH PERSONAL TAXES 222 KEY
POINTS FROM THE CHAPTER 223 NOTES 225 9 INTERNATIONAL VALUATION AND
APPRAISAL 227 INTRODUCTION 228 INTERNATIONAL VALUATION APPROACHES 229
IMPLICATIONS OF THE TWO METHODS 230 RECONCILIATION OF THE TWO METHODS
234 STOCK MARKET LISTING CHANGES AND THE COST OF CAPITAL 236 KEY POINTS
FROM THE CHAPTER 240 NOTES 241 10 PREMIA AND DISCOUNTS 243 INTRODUCTION
244 VALUATIONS AND ADJUSTMENTS 245 APPLICATION TO THE COST OF CAPITAL
248 DISCOUNTS FOR LACK OF MARKETABILITY 256 CONTROL PREMIUM 261 SMALL
COMPANY DISCOUNT 266 OTHER ADJUSTMENTS 274 KEY POINTS FROM THE CHAPTER
277 NOTE 278 EPILOGUE 279 INDEX 285 |
any_adam_object | 1 |
any_adam_object_boolean | 1 |
author | Ogier, Tim |
author_facet | Ogier, Tim |
author_role | aut |
author_sort | Ogier, Tim |
author_variant | t o to |
building | Verbundindex |
bvnumber | BV023275879 |
callnumber-first | H - Social Science |
callnumber-label | HG4026 |
callnumber-raw | HG4026 |
callnumber-search | HG4026 |
callnumber-sort | HG 44026 |
callnumber-subject | HG - Finance |
classification_rvk | QP 720 |
ctrlnum | (OCoLC)70309607 (DE-599)BVBBV023275879 |
dewey-full | 658.152 658.15/2 |
dewey-hundreds | 600 - Technology (Applied sciences) |
dewey-ones | 658 - General management |
dewey-raw | 658.152 658.15/2 |
dewey-search | 658.152 658.15/2 |
dewey-sort | 3658.152 |
dewey-tens | 650 - Management and auxiliary services |
discipline | Wirtschaftswissenschaften |
discipline_str_mv | Wirtschaftswissenschaften |
format | Book |
fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01885nam a2200505zc 4500</leader><controlfield tag="001">BV023275879</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20080609 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">080424s2004 xxu |||| 00||| eng d</controlfield><datafield tag="010" ind1=" " ind2=" "><subfield code="a">2004043637</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">027368874X</subfield><subfield code="c">alk. paper</subfield><subfield code="9">0-273-68874-X</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)70309607</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV023275879</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-20</subfield><subfield code="a">DE-188</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HG4026</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">658.152</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">658.15/2</subfield><subfield code="2">22</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QP 720</subfield><subfield code="0">(DE-625)141929:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Ogier, Tim</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">The real cost of capital</subfield><subfield code="b">a business field guide to better financial decisions</subfield><subfield code="c">Tim Ogier, John Rugman and Lucinda Spicer</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">London [u.a.]</subfield><subfield code="b">Financial Times/Prentice Hall/Pearson Education</subfield><subfield code="c">2004</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XVIII, 291 S.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">Financial Times series</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Includes index. - Erscheint: April 2004</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Unternehmen</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Business enterprises</subfield><subfield code="x">Finance</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Corporations</subfield><subfield code="x">Finance</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Kapitalkosten</subfield><subfield code="0">(DE-588)4135348-1</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Investitionsentscheidung</subfield><subfield code="0">(DE-588)4162244-3</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Kapitalkosten</subfield><subfield code="0">(DE-588)4135348-1</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="689" ind1="1" ind2="0"><subfield code="a">Investitionsentscheidung</subfield><subfield code="0">(DE-588)4162244-3</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="1" ind2="1"><subfield code="a">Kapitalkosten</subfield><subfield code="0">(DE-588)4135348-1</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="1" ind2=" "><subfield code="5">DE-188</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Rugman, John</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Spicer, Lucinda</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">SWB Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016460775&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-016460775</subfield></datafield></record></collection> |
id | DE-604.BV023275879 |
illustrated | Not Illustrated |
index_date | 2024-07-02T20:37:51Z |
indexdate | 2024-07-09T21:14:44Z |
institution | BVB |
isbn | 027368874X |
language | English |
lccn | 2004043637 |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016460775 |
oclc_num | 70309607 |
open_access_boolean | |
owner | DE-20 DE-188 |
owner_facet | DE-20 DE-188 |
physical | XVIII, 291 S. |
publishDate | 2004 |
publishDateSearch | 2004 |
publishDateSort | 2004 |
publisher | Financial Times/Prentice Hall/Pearson Education |
record_format | marc |
series2 | Financial Times series |
spelling | Ogier, Tim Verfasser aut The real cost of capital a business field guide to better financial decisions Tim Ogier, John Rugman and Lucinda Spicer London [u.a.] Financial Times/Prentice Hall/Pearson Education 2004 XVIII, 291 S. txt rdacontent n rdamedia nc rdacarrier Financial Times series Includes index. - Erscheint: April 2004 Unternehmen Business enterprises Finance Corporations Finance Kapitalkosten (DE-588)4135348-1 gnd rswk-swf Investitionsentscheidung (DE-588)4162244-3 gnd rswk-swf Kapitalkosten (DE-588)4135348-1 s DE-604 Investitionsentscheidung (DE-588)4162244-3 s DE-188 Rugman, John Sonstige oth Spicer, Lucinda Sonstige oth SWB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016460775&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
spellingShingle | Ogier, Tim The real cost of capital a business field guide to better financial decisions Unternehmen Business enterprises Finance Corporations Finance Kapitalkosten (DE-588)4135348-1 gnd Investitionsentscheidung (DE-588)4162244-3 gnd |
subject_GND | (DE-588)4135348-1 (DE-588)4162244-3 |
title | The real cost of capital a business field guide to better financial decisions |
title_auth | The real cost of capital a business field guide to better financial decisions |
title_exact_search | The real cost of capital a business field guide to better financial decisions |
title_exact_search_txtP | The real cost of capital a business field guide to better financial decisions |
title_full | The real cost of capital a business field guide to better financial decisions Tim Ogier, John Rugman and Lucinda Spicer |
title_fullStr | The real cost of capital a business field guide to better financial decisions Tim Ogier, John Rugman and Lucinda Spicer |
title_full_unstemmed | The real cost of capital a business field guide to better financial decisions Tim Ogier, John Rugman and Lucinda Spicer |
title_short | The real cost of capital |
title_sort | the real cost of capital a business field guide to better financial decisions |
title_sub | a business field guide to better financial decisions |
topic | Unternehmen Business enterprises Finance Corporations Finance Kapitalkosten (DE-588)4135348-1 gnd Investitionsentscheidung (DE-588)4162244-3 gnd |
topic_facet | Unternehmen Business enterprises Finance Corporations Finance Kapitalkosten Investitionsentscheidung |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016460775&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
work_keys_str_mv | AT ogiertim therealcostofcapitalabusinessfieldguidetobetterfinancialdecisions AT rugmanjohn therealcostofcapitalabusinessfieldguidetobetterfinancialdecisions AT spicerlucinda therealcostofcapitalabusinessfieldguidetobetterfinancialdecisions |