An essential guide to valuation techniques and financial
analysis
With the collapse of the economy and financial systems, many
institutions are reevaluating what they are willing to spend money
on. Project valuation is key to both cost effectiveness measures
and shareholder value.
The purpose of this book is to provide a comprehensive
examination of critical capital budgeting topics. Coverage extends
from discussing basic concepts, principles, and techniques to their
application to increasingly complex, real-world situations.
Throughout, the book emphasizes how financially sound capital
budgeting facilitates the process of value creation and discusses
why various theories make sense and how firms can use them to solve
problems and create wealth.
Offers a strategic focus on the application of various
techniques and approaches related to a firm''s overall strategy
Provides coverage of international topics based on the premise
that managers should view business from a global perspective
Emphasizes the importance of using real options
Comprised of contributed chapters from both experienced
professionals and academics, Capital Budgeting Valuation
offers a variety of perspectives and a rich interplay of ideas
related to this important financial discipline.
關於作者：
H. Kent Baker, PhD, CFA, CMA, is University
Professor of Finance and Kogod Research Professor at the Kogod
School of Business at American University, Washington, D.C. He has
published extensively in leading academic and professional finance
journals including the Journal of Finance, Journal of Financial
and Quantitative Analysis, Financial Management, Financial Analysts
Journal, and Journal of Portfolio Management. Recognized
as one of the most prolific authors in finance during the past
fifty years, Professor Baker has consulting and training experience
with more than 100 organizations and has been listed in fifteen
biographies.
Philip English is an Assistant Professor of Finance and
Real Estate at the Kogod School of Business, American University.
He currently serves as Director of the Master of Science in Finance
and Master of Science in Real Estate programs. Before pursuing a
doctorate, English worked as the primary financial officer and
director of product development for Campbell Classics, a
Virginia-based manufacturing firm. Professor English''s research
interests focus on the role of the legal environment in emerging
markets, corporate governance, and mutual fund regulation. He has
published in the Journal of Financial Research, Journal of
Corporate Finance, Journal of Law and Economics, and
Emerging Markets Review.
目錄：
Acknowledgments ix
1 Capital Budgeting: An Overview
H. Kent Baker and Philip English
PART I Foundation and Key Concepts
2 Corporate Strategy and Investment Decisions
Daniel Ferreira
3 Corporate Governance and Investment Decisions
Fodil Adjaoud, Dorra Charfi, and Lamia Chourou
PART II Capital Investment Choice
4 Measuring Investment Value: Free Cash Flow, Net Present Value,
and Economic Value Added
Tom Arnold and Terry Nixon
5 Alternative Methods of Evaluating Capital Investments
Tom Arnold and Terry Nixon
6 Capital Rationing for Capital Budgeting
Alexander Brüggen
7 Analyzing Foreign Investments
Wim Westerman and John Henry Hall
8 Postcompletion Auditing of Capital Investments
Jari Huikku
9 Capital Budgeting Techniques in Practice: U.S. Survey
Evidence
Tarun K. Mukherjee and Naseem M. Al Rahahleh
PART III Project Cash Flows and Inflation
10 Estimating Project Cash Flows
Kyle Meyer and Halil Kiymaz
11 Capital Budgeting and Inflation
Ignacio V?elez-Pareja and Joseph Tham
PART IV Risk and Investment Choice
12 Basic Risk Adjustment Techniques in Capital Budgeting
John H. Hall and Wim Westerman
13 Capital Budgeting with PoliticalCountry Risk
Yacine Belghitar and Ephraim Clark
14 Risk Management in Project Finance
Stefano Gatti and Stefano Caselli
15 Risk Simulation Concepts and Methods
Tom Arnold and David North
PART V Real Options and Project Analysis
16 Real Options Analysis: An Introduction
Tom Arnold and Bonnie Buchanan
17 Applications of Real Options Analysis
Tom Arnold and Bonnie Buchanan
PART VI Estimating the Project Cost of Capital
18 Cost of Capital: An Introduction
Octavian Ionici, Kenneth Small, and Frank D’Souza
19 Using the Capital Asset Pricing Model and Arbitrage Pricing
Theory in Capital Budgeting
S. David Young and Samir Saadi
20 Financing Mix and Project Valuation: Alternative Methods and
Possible Adjustments
Alex Pierru and Denis Babusiaux
PART VII Special Topics
21 Capital Budgeting for Government Entities
Davina F. Jacobs
22 Decision Making Using Behavioral Finance for Capital
Budgeting
Yuri Biondi and Giuseppe Marzo
23 Merger and Acquisition Pricing: The Valuation of Synergy
Rainer Lenz
24 Multicriteria Analysis for Capital Budgeting
Fernando R. Fernholz
Answers to Discussion Questions
Index
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