Download or read book Discounted Cash Flow written by Lutz Kruschwitz and published by John Wiley & Sons. This book was released on 2006-02-03 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firm valuation is currently a very exciting topic. It is interesting for those economists engaged in either practice or theory, particularly for those in finance. The literature on firm valuation recommends logical, quantitative methods, which deal with establishing today's value of future free cash flows. In this respect firm valuation is identical with the calculation of the discounted cash flow, DCF. There are, however, different coexistent versions, which seem to compete against each other. Entity approach and equity approach are thus differentiated. Acronyms are often used, such as APV (adjusted present value) or WACC (weighted average cost of capital), whereby these two concepts are classified under entity approach. Why are there several procedures and not just one? Do they all lead to the same result? If not, where do the economic differences lie? If so, for what purpose are different methods needed? And further: do the known procedures suffice? Or are there situations where none of the concepts developed up to now delivers the correct value of the firm? If so, how is the appropriate valuation formula to be found? These questions are not just interesting for theoreticians; even the practitioner who is confronted with the task of marketing his or her results has to deal with it. The authors systematically clarify the way in which these different variations of the DCF concept are related throughout the book ENDORSEMENTS FOR LÖFFLER: DISCOUNTED 0-470-87044-3 "Compared with the huge number of books on pragmatic approaches to discounted cash flow valuation, there are remarkably few that lay out the theoretical underpinnings of this technique. Kruschwitz and Löffler bring together the theory in this area in a consistent and rigorous way that should be useful for all serious students of the topic." --Ian Cooper, London Business School "This treatise on the market valuation of corporate cash flows offers the first reconciliation of conventional cost-of-capital valuation models from the corporate finance literature with state-pricing (or 'risk-neutral' pricing) models subsequently developed on the basis of multi-period no-arbitrage theories. Using an entertaining style, Kruschwitz and Löffler develop a precise and theoretically consistent definition of 'cost of capital', and provoke readers to drop vague or contradictory alternatives." --Darrell Duffie, Stanford University "Handling firm and personal income taxes properly in valuation involves complex considerations. This book offers a new, precise, clear and concise theoretical path that is pleasant to read. Now it is the practitioners task to translate this approach into real-world applications!" --Wolfgang Wagner, PricewaterhouseCoopers "It is an interesting book, which has some new results and it fills a gap in the literature between the usual undergraduate material and the very abstract PhD material in such books as that of Duffie (Dynamic Asset Pricing Theory). The style is very engaging, which is rare in books pitched at this level." --Martin Lally, University of Wellington

Download or read book Stochastic Discounted Cash Flow written by Lutz Kruschwitz and published by Springer Nature. This book was released on 2020-02-28 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses firm valuation, which is of interest to economists, particularly those working in finance. Firm valuation comes down to the calculation of the discounted cash flow, often only referred to by its abbreviation, DCF. There are, however, different coexistent versions, which seem to compete against each other, such as entity approaches and equity approaches. Acronyms are often used, such as APV (adjusted present value) or WACC (weighted average cost of capital), two concepts classified as entity approaches. This book explains why there are several procedures and whether they lead to the same result. It also examines the economic differences between the methods and indicates the various purposes they serve. Further it describes the limits of the procedures and the situations they are best applied to. The problems this book addresses are relevant to theoreticians and practitioners alike.

Download or read book Discounted Cash Flow written by Maurice Gordon Wright and published by London ; New York : McGraw-Hill. This book was released on 1973 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Stochastic Discounted Cash Flow written by Lutz Kruschwitz and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

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Download or read book Tables for Discounted Cash Flow Annuity Sinking Fund Compound Interest and Annual Capital Charge Calculations written by Gerald Hartley Lawson and published by . This book was released on 1965 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Discounted Cash Flow written by L. J. Blythe and published by . This book was released on 1967 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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Download or read book Discounted Cash Flow written by Learning Systems Ltd and published by Reader's Digest Young Families. This book was released on 1967 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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Download or read book Using Discounted Cash Flow in Investment Appraisal written by Maurice Gordon Wright and published by McGraw-Hill Book Company Limited. This book was released on 1990-01-01 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Discounted Cash Flow written by Learning Systems, ltd and published by . This book was released on 1967-01-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tables for Discounted Cash Flow Annuity Sinking Fund Compound Interest and Annual Capital Charge Calculations written by Gerald Hartley Lawson and published by . This book was released on 1965 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tables for Discounted Cash Flow Annuity Sinking Fund Compound Interest and Annual Capital Charge Calculations written by Gerald Hartley Lawson and published by . This book was released on 1977 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Discounted Cash Flow Valuation Techniques and Spreadsheet Applications written by Rodney Lynn Jefferies and published by . This book was released on 1995-09-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Discounted Cash Flow and Corporate Planning written by Arnold M. Alfred and published by . This book was released on 1969 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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