Herbst Capital Asset Investment

Strategy, Tactics and Tools
1. Auflage 2002
ISBN: 978-0-470-85640-6
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 334 Seiten, E-Book

Reihe: Wiley Finance Series

Providing a balanced and practical approach to capital managementand budgeting, this book covers the full spectrum of capitalinvestments, from the basics through the latest innovations. It isaimed at managers who are involved in capital investment decisions:setting company capital investment policy; performing projectanalyses; and drafting recommendations. Those in top managementwill benefit from discussions of strong and weak points of variousmethods and concepts.
Included in the arsenal of capital investment tools in this bookare concepts of proven usefulness, such as the MAPI method, nolonger available in other works on the topic of capital budgeting,and other topics not covered elsewhere, such as abandonmentanalysis.

Autoren/Hrsg.

Herbst, Anthony F.

Inhaltsverzeichnis

Preface.
Acknowledgments.
Introduction: The big picture, environment, terminology, andpreview.
The objective of capital budgeting.
Estimating basic project characteristics.
Cost of capital.
Traditional methods that ignore time-value of money.
Traditional methods that recognize time-value of money: the netpresent value.
Traditional methods that recognize time-value of money: theinternal rate of return.
Reinvestment rate assumptions for NPV and IRR and conflictingrankings.
The MAPI method.
The problem of mixed cash flows: I.
The problem of mixed cash flows: II.
Appendix: The problem of mixed cash flows III--a two-stagemethod of analysis.
Leasing.
Appendix.
Leveraged leases.
Alternative investment measures.
Project abandonment analysis.
Multiple project capital budgeting.
Appendix to multiple project capital budgeting.
Utility and risk aversion.
Single project analysis under risk.
Multiple project selection under risk: computer simulation andother approaches.
Multiple project selection under risk: portfolio approaches.
The capital asset pricing model.
Multiple project selection under risk.
Real options.
Appendix: Financial mathematics tables and formulas.
Bibliography.
Index.

Über Autor(innen)

Anthony F. Herbst is Professor of Finance and holds theCharles R. and Dorothy S. Carter Chair at the University of Texas,El Paso. Prior to earning a Ph.D. in Economics at PurdueUniversity, he was manager of operations research for the NationalBank of Detroit, and previously had held positions as an industrialengineer for Koppers Corporation and Ford Motor Company.
From 1982 through 1998 he served as founding editor of theJournal of Financial Engineering (now merged with theJournal of Derivatives), where he is now an associateeditor. He is also a member of the editorial boards for theJournal of Financial Research and The Global FinanceJournal, and advisor on the editorial board of the Journal ofTaxation of Financial Institutions. He is the author of severalbooks including Analyzing and Forecasting Futures Prices(John Wiley & Sons Ltd.)