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Erweiterungen zu „Simplified Discounting Rules in Binomial Models“ von Frank Richter
Rosarius, Stephan; Wiese, Jörg - Volkswirtschaftliche Fakultät, … - 2005
Bei der Bewertung von Unternehmen ist es üblich, die erwarteten Überschussverteilungen mit Kapitalkosten zu … Anwendung von konstanten Kapitalkosten erlauben. Die vorliegende Arbeit erweitert die Überlegungen von Richter dahingehend, dass …, dass sich die Kapitalkosten auf Basis der unterstellten Verteilungsparameter der Wachstumsraten und der Marktrendite sowie …
Persistent link: https://www.econbiz.de/10005649763
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Valoración de flujos de caja en inflación. El caso de la regulación en el Banco Mundial
Vélez-Pareja, Ignacio - Volkswirtschaftliche Fakultät, … - 2005
We show that project evaluation should be based on free cash flows at nominal prices. We present a case where the results from the constant price method are biased upwards and there is a risk to accept bad projects. It is a widespread practice to evaluate projects at constant prices. With an...
Persistent link: https://www.econbiz.de/10005836393
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Disclosure Quality, Cost of Capital, and Investors’ Welfare
Gao, Pingyang - Volkswirtschaftliche Fakultät, … - 2008
It is widely believed that disclosure quality improves investors’ welfare by reducing cost of capital in a competitive market. This paper examines this conventional wisdom by studying a production economy in which disclosure influences a firm’s investment decisions. I demonstrate three...
Persistent link: https://www.econbiz.de/10005837050
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Practical approach to estimating cost of capital
Skardziukas, Domantas - Volkswirtschaftliche Fakultät, … - 2010
The recent as well as precedent market crashes has increased a number of already existing biases when estimating a forward looking cost of capital for company’s stakeholders. With cost of capital being essential in corporate valuation and decision making the following paper analyzes the...
Persistent link: https://www.econbiz.de/10009021988
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Risk sensitivity indicator as correction factor for cost of capital rate
Michalski, Grzegorz - Volkswirtschaftliche Fakultät, … - 2012
Cost of capital rate is a result of risk included in cost of debt rates and cost of equity rates. Generally to estimate cost of capital rates with use of CAPM conception, is used information about general risk indicator, known as beta coefficient and relations between debt and equity rates. Such...
Persistent link: https://www.econbiz.de/10011111952
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More efficient production subsidies for emerging agriculture in micro Arab states: a conceptual model
Raboy, David G.; Basher, Syed Abul; Hossain, Ishrat; … - Volkswirtschaftliche Fakultät, … - 2012
Import-dependent arid Arab micro states such as those in the Persian Gulf are particularly vulnerable to food-security risk. Among the many remedial policy suggestions is some initiation or increase in domestic production to insulate these countries from supply disruption, import price...
Persistent link: https://www.econbiz.de/10011112190
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Measuring the social responsibility discount for the cost of equity capital: evidence from benefit corporations
Everett, Craig R. - Volkswirtschaftliche Fakultät, … - 2013
In 2010, Maryland became the first state to allow firms to incorporate as “benefit corporations,” which are for-profit entities with a social purpose. Since then, nineteen other states have followed. Using survey data from the population of 94 benefit corporations existent at the time of the...
Persistent link: https://www.econbiz.de/10011112351
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A Study of the Averch-Johnson Hypothesis in the Telecommunications Industry
Mirucki, Jean - Volkswirtschaftliche Fakultät, … - 1980
The purpose of this study is to test the Averch-Johnson hypothesis in Bell Canada based on time-series data covering the 1952-76 period and using a variety of options, ranging from different specifications of the production function, the method of calculation the cost of capital, and the...
Persistent link: https://www.econbiz.de/10008776862
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An empirical analysis of the interlinkages between financial sector and economic growth
Pirtea, Marilen; Dima, Bogdan; Milos, Laura Raisa - Volkswirtschaftliche Fakultät, … - 2009
There is a growing literature body which examines the connections between financial status and economic growth. The aim of this paper is to examine the mechanism through which this positive connection is realized. The methodology is based on a pool data regression with dynamic of real GDP as...
Persistent link: https://www.econbiz.de/10008560108
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Firm valuation: tax shields & discount rates
Ansay, Thomas - Volkswirtschaftliche Fakultät, … - 2009
This paper proposes a new discounted cash flows’ valuation setup, and derives a general expression for the tax shields’ discount rate. This setup applies to any debt policy and any cash flow pattern. It only requires the equality at any time between the assets side and the liabilities side...
Persistent link: https://www.econbiz.de/10008587853