Similar Search Results

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

Mathematic Modelling of the Transaction in the Bugetary Activity

Stegaroiu, Carina-Elena - Volkswirtschaftliche Fakultät, … - 2008

The submitted paper is intended to revolutionize the handling methods of credit sheets and the means of collecting … phenomenon in the area of credit ordination through the help of inserting rare matrix in the mathematical designs of complex …

Persistent link: https://www.econbiz.de/10005789795

Empirical policy functions as benchmarks for evaluation of dynamic capital structure models

Bazdresch, Santiago - Volkswirtschaftliche Fakultät, … - 2011

This paper presents a set of benchmark moments for evaluation or estimation of quantitative capital structure models. The moments are directly related to the models being studied: the main features of each models' empirical policy functions. The paper describe a general method for estimating...

Persistent link: https://www.econbiz.de/10009402057

Optimal Cash Management Under Uncertainty

Bensoussan, Alain; Chutani, Anshuman; Sethi, Suresh - Volkswirtschaftliche Fakultät, … - 2009

We solve an agent's optimization problem of meeting demands for cash over time with cash deposited in bank or invested in stock. The stock pays dividends and uncertain capital gains, and a commission is incurred in buying and selling of stock. We use a stochastic maximum principle to obtain...

Persistent link: https://www.econbiz.de/10008567676

Firm Value and the mis-use of the CAPM for valuation and decision making

Magni, Carlo Alberto - Volkswirtschaftliche Fakultät, … - 2005

This paper shows that a decision maker using the CAPM for valuing firms and making decisions may contradict Modigliani and Miller’s Proposition I, if he adopts the widely-accepted disequilibrium NPV. As a consequence, CAPM-minded agents employing this NPV are open to arbitrage losses and miss...

Persistent link: https://www.econbiz.de/10004980381

Economic profit, NPV, and CAPM: Biases and violations of Modigliani and Miller's Proposition I

Magni, Carlo Alberto - Volkswirtschaftliche Fakultät, … - 2005

The notion of Net Present Value (NPV) is thought to formally translate the notion of economic profit, where the discount rate is the cost of capital. The latter is the expected rate of return of an equivalent-risk alternative that the investor might undertake and is often found by making...

Persistent link: https://www.econbiz.de/10011108248

Sensitivity Analysis of CAPM Estimates: Data Frequency and Time Frame

Shahzad, Syed Jawad Hussain; Zakaria, Muhammad; Raza, Naveed - Volkswirtschaftliche Fakultät, … - 2014

This study is based on positivism research philosophy and utilizes deductive approach using quantitative data analysis of 117 firms listed at KSE-100 Index from 2005 to 2012. Objective of study is to analyze the predictability of Capital Asset Pricing Model (CAPM) under different data...

Persistent link: https://www.econbiz.de/10011109401

Residual income and value creation: An investigation into the lost-capital paradigm

Magni, Carlo Alberto - Volkswirtschaftliche Fakultät, … - 2007

shadow project, (d) the claimholders' credit. Relations of the lost capital with book values and market values are studied … in such different fields as economic theory, management accounting and corporate finance, are considered: O'Hanlon and …

Persistent link: https://www.econbiz.de/10011111180

Mergers and acquisitions transactions strategies in diffusion - type financial systems in highly volatile global capital markets with nonlinearities

Ledenyov, Dimitri O.; Ledenyov, Viktor O. - Volkswirtschaftliche Fakultät, … - 2014

The M&A transactions represent a wide range of unique business optimization opportunities in the corporate transformation deals, which are usually characterized by the high level of total risk. The M&A transactions can be successfully implemented by taking to an account the size of investments,...

Persistent link: https://www.econbiz.de/10011259891

The phased approach to time value of money in economic analysis of investment projects

Daskovskiy, Vadim; Kiselyov, Vladimir - Volkswirtschaftliche Fakultät, … - 2010

factor in modeling IP economic flows, banks’ feasibility study of credit repayment was used. …

Persistent link: https://www.econbiz.de/10011260371