Similar Search Results

Accounting and Economic Measures : An Integrated Theory of Capital Budgeting

Magni, Carlo Alberto - 2015

Accounting measures are traditionally considered not significant from an economic point of view. In particular, accounting rates of return are often regarded economically meaningless or, at the very best, poor surrogates for the IRR, which is held to be “the” economic yield. Likewise,...

Persistent link: https://www.econbiz.de/10013039268

In Search of the 'Lost Capital' : A Theory for Valuation, Investment Decisions, Performance Measurement

Magni, Carlo Alberto - 2012

nonstandard theory of residual income. It is derived from the notion of “unrecovered” capital, which is here named “lost” capital … the simple average residual income play a major role in valuation; a dual relation between the standard theory and the … lost-capital theory is proved, clarifying the way periodic performance is computed in the two paradigms and the rationale …

Persistent link: https://www.econbiz.de/10013104372

Investment, Financing and the Role of ROA and WACC in Value Creation

Magni, Carlo Alberto - 2015

Evaluating an industrial opportunity often means to engage in financial modelling which results in estimation of a large amount of economic and accounting data, which are then gathered in an economically rational framework: the pro forma financial statements. While the standard net present value...

Persistent link: https://www.econbiz.de/10013028828

CAPM and Capital Budgeting : Present/Future, Equilibrium/Disequilibrium, Decision/Valuation

Magni, Carlo Alberto - 2010

This paper expands on the results obtained in Magni (2009) regarding investment decisions with the Capital Asset Pricing Model (CAPM). It is shown that four different decision criteria are deductively drawn from this model: the disequilibrium Net Present Value (NPV), the equilibrium NPV, the...

Persistent link: https://www.econbiz.de/10013143373

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

Magni, Carlo Alberto - 2007

in such different fields as economic theory, management accounting and corporate finance, are considered: O'Hanlon and …

Persistent link: https://www.econbiz.de/10015216472

In search of the "lost capital". A theory for valuation, investment decisions, performance measurement

Magni, Carlo Alberto - 2007

nonstandard theory of residual income. It is derived from the notion of "unrecovered" capital, which is here named "lost" capital … the simple average residual income play a major role in valuation; a dual relation between the standard theory and the … lost-capital theory is proved, clarifying the way periodic performance is computed in the two paradigms and the rationale …

Persistent link: https://www.econbiz.de/10015218254

In search of the "lost capital". A theory for valuation, investment decisions, performance measurement

Magni, Carlo Alberto - 2007

Persistent link: https://www.econbiz.de/10015218329

Measuring performance and valuing firms: In search of the lost capital

Magni, Carlo Alberto - 2007

Residual income as commonly described in academic papers and in real-life applications may be formally described as a function of three variables: (i) the capital invested, (ii) the rate of return, (iii) the opportunity cost of capital. This paper shows that a different paradigm of residual...

Persistent link: https://www.econbiz.de/10015258876

Scomposizione di sovraprofitti: Economic Value Added e Valore Aggiunto Sistemico

Magni, Carlo Alberto - 2000

The Economic Value Added formally translates the theoretical notion of excess profit (also known as residual income). Its use is so firmly entrenched in applied corporate finance and management accounting that its name is often used as a noun for denoting the concept of excess profit itself....

Persistent link: https://www.econbiz.de/10015261767

Measuring performance and valuing firms: In search of the lost capital

Magni, Carlo Alberto - 2007

Persistent link: https://www.econbiz.de/10015261786