Capital Asset Investment
Strategy, Tactics and Tools
Wiley Finance Series
1. Auflage Oktober 2002
334 Seiten, Hardcover
Wiley & Sons Ltd
Kurzbeschreibung
This book ties together the theory, quantitative methods, and applications of capital budgeting. It provides a balanced treatment of the different approaches to capital project evaluation the author explores both the strengths and weaknesses of various project selection methods.
A balanced and practical approach to capital management and budgeting
Capital Management and Strategic Financial Decision-Making offers a detailed discussion of the theory, quantitative methods, and applications of capital budgeting. Comprehensive in scope, all the major topics in the field of capital investment are covered, including the various approaches to capital project evaluation. Financial managers and business leaders planning future strategies will look to this book for a helping hand in making long-term financial decisions.
Anthony F. Herbst, PhD (El Paso, TX), teaches at the University of Texas, El Paso. He was a founding editor of the Journal of Financial Engineering and is the author of Analyzing and Forecasting Futures Prices (Wiley: 0471533122).
Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management, asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.
Introduction: the big picture, environment, terminology, and preview.
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 net present value.
Traditional methods that recognize time-value of money: the internal rate of return.
Reinvestment rate assumptions for NPV and IRR and conflicting rankings.
The MAPI method.
The problem of mixed cash flows:I.
The problem of mixed cash flows:II.
Leasing.
Leveraged leases.
Alternative investment measures.
Project abandonment analysis.
Multiple project capital budgeting.
Utility and risk aversion.
Single project analysis under risk.
Multiple project selection under risk: computer simulation and other 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.
From 1982 through 1998 he served as founding editor of the Journal of Financial Engineering (now merged with the Journal of Derivatives), where he is now an associate editor. He is also a member of the editorial boards for the Journal of Financial Research and The Global Finance Journal, and advisor on the editorial board of the Journal of Taxation of Financial Institutions. He is the author of several books including Analyzing and Forecasting Futures Prices (John Wiley & Sons Ltd.)
