Download or read book Excess Cash Flow written by R. Dhumale and published by Springer. This book was released on 2002-10-31 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic studies which examine the financing patterns of firms, particularly in emerging markets seldom consider the market environment in which they operate. The most recent Asian financial crisis and its exposure of institutional failures in the context of financial sector liberalization show that these market conditions are vital. The positive relationship between a firms excess cash flow and investment are well known but the environment which determines retention of cash as opposed to paying dividends remains unresolved. The results of this survey suggest a framework by which future research in data collection, theoretical analysis and empirical testing may be undertaken.
Download or read book Principles of Cash Flow Valuation written by Joseph Tham and published by Elsevier. This book was released on 2004-02-23 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: Principles of Cash Flow Valuation is the only book available that focuses exclusively on cash flow valuation. This text provides a comprehensive and practical, market-based framework for the valuation of finite cash flows derived from a set of integrated financial statements, namely, the income statement, balance sheet, and cash budget. The authors have distilled the essence of years of gathering academic wisdom in the study of cash flow analysis and the cost of capital. Their work should go a long way toward bridging the gap between the application of cost benefit analysis and the theory of capital budgeting. This book covers the basic concepts in market-based cash flow valuation. Topics include the tme value of money (TVM) and an introduction to cost of capital; basic review of financial statements and accounting concepts; construction of integrated pro-forma financial statements; derivation of free cash flows; use of the WACC in theory and in practice; estimating the WACC for non traded firms; calculating the terminal value beyond the planning period. It also revisits the theory for cost of capital and explains how cash flows are valued in reality. The ideas are illustrated using examples and a case study. The presentation is appropriate for a range of technical backgrounds. This text will be of interest to finance professionals as well as MBA and other graduate students in finance. * Provides the only exclusive treatment of cash flow valuation * Authors use examples and a case study to illustrate ideas * Presentation appropriate for a range of technical backgrounds: ideas are presented clearly, full exposition is also provided * Named among the Top 10 financial engineering titles by Financial Engineering News
Download or read book Cash Flow Analysis written by IntroBooks and published by IntroBooks. This book was released on 2018-02-19 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cash flow refers to the total amount of cash-equivalents or real cash that moves in and out of business. Cash flow can be either positive or negative. Positive cash flow refers to increase in the liquid assets of a company, which will make it easy for the said company to take care of its financial obligations, like saving for the future, paying expenses, paying shareholders, reinvesting in the business, settling debts, and so on. Negative cash flow, on the other hand, means the liquid asset of the company is on the decline, which may make it impossible for the company to settle its various financial obligations. There is a difference between net cash flow and net income; the latter can include items for which the company has not received payment and account receivable. The quality of the income owned by a company can be assessed using cash flow phenomenon. It refers to how liquid the income is, and can give an insight into the possibility of the company remaining solvent.
Download or read book Corporate Cash Management Excess Cash and Acquisitions written by Jarrad V.T. Harford and published by Routledge. This book was released on 2014-05-01 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.
Download or read book Guide to Cash Management written by John Tennent and published by The Economist. This book was released on 2014-02-25 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: The credit crunch highlighted to businesses the importance of cash management, as those firms which ran short of cash discovered when they found themselves in trouble or even went bust. This tightly-written guide clearly explains the six critical aspects of the effective management of cash and cash flow. These involve: forecasting likely cash receipts and payments establishing funding lines necessary to cover asset purchases or for working capital efficiently managing day-to-day operations with regard to the amount of cash required selecting appropriate investment opportunities that result in positive cash flow monitoring the profitability of products and services to ensure they are cash generative and not cash destroying, having a plan for managing excess cash that exceeds demand Cash rather than profit has always been the ultimate determinant of whether a business survives.
Download or read book Creditor Control of the Free Cash Flow written by Rocco Huang and published by . This book was released on 2009 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: With free cash flows, borrowers can accumulate cash or voluntarily pay down debts. However, sometimes creditors impose a mandatory repayment covenant called "excess cash flow sweep" in loan contracts to force borrowers to repay debts ahead of schedule. About 17 percent of borrowers in the authors' sample (1995-2006) have this covenant attached to at least one of their loans. The author finds that the sweep covenant is more likely to be imposed on borrowers with higher leverage (i.e., where risk shifting by equity holders is more likely). The results are robust to including borrower fixed effects or using industry median leverage as a proxy. The covenant is more common also in borrowers where equity holders appear to have firmer control, e.g., when more shares are controlled by institutional block holders, when firms are incorporated in states with laws more favorable to hostile takeovers, or when equity holders place higher valuation on excess cash holdings. These determinants suggest that the sweep covenant may be motivated by creditor-shareholder conflicts. Finally, the author shows that the covenant has real effects: borrowers affected by the sweep covenant indeed repay more debts using excess cash flows, and they spend less in capital investment and pay out fewer dividends to shareholders.
Download or read book Positive Cash Flow written by Robert A. Cooke and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cash flow is a major concern of all business enterprises, from the smallest to the largest. Most of the information on this subject is aimed at and written for CPAs, MBAs, and other financial professionals. This book is written for the small business owner or everyday entrepreneur, offering simple and modern language to explain vital information about cash flow. This book also discusses the use of excess cash -- recognizing that putting money to work when there is plenty of cash is just as important as conserving it when cash is short. Positive Cash Flow examines each area of business that affects cash flow, discusses how these effects can be improved, and assists the reader in the complex task of projecting cash flow and changing plans as necessary to make sure that there will be adequate cash for operation at all times. Book jacket.
Download or read book Managing Cash Flow written by Rob Reider and published by Wiley. This book was released on 2002-12-17 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides the tool necessary to determine and evaluate the effectiveness of a corporation's management of cash. Examines how operational activities can affect cash flow management. Shows how effective cash flow management can improve corporate performance and increase shareholder value. Provides an overview of cash management techniques.
Download or read book Cash Flow Forecasting written by William A. Loscalzo and published by Prentice Hall. This book was released on 1982 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Distributing Excess Cash the Role of Specially Designated Dividends written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores why firms distribute excess cash as specially designated dividends (SDDs) instead of using regular dividends or repurchasing shares. We survey top managers of NASDAQ, AMEX, and NYSE firms issuing at least one SDD between 1994 and 2001. The results show that firms tend to pay SDDs when they experience strong earnings and cash flows and want to increase at least temporarily the yield to shareholders. Having strong earnings and cash flows also provide an impetus for regular dividend increases, but paying regular dividends is part of a firm's standard dividend policy. The primary motives for repurchasing shares are to take advantage of perceived market undervaluation of the firm's shares and to improve performance measures, especially. Overall, the results lend support to the signaling explanation for the disbursement of excess funds, but not the free cash flow or wealth transfer explanations.
Download or read book Building Financial Models Chapter 13 The Cash Sweep written by John Tjia and published by McGraw Hill Professional. This book was released on 2009-05-27 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter is from Building Financial Models, widely acclaimed by accounting and finance professionals for its insight into determining a company’s current value and projecting its future performance. Building on this tradition, the updated and expanded Second Edition helps readers develop a financial model, complete with entirely new material on discounted cash flow (DCF) modeling. Professionals will find this guide invaluable for both its practical, step-by-step approach to creating a core model and its broad coverage of model mechanics and foundational accounting and finance concepts.
Download or read book Damodaran on Valuation written by Aswath Damodaran and published by John Wiley & Sons. This book was released on 2016-02-08 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Aswath Damodaran is simply the best valuation teacher around. If you are interested in the theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf. You can bet that I do." -- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for answering many of today?s critical valuation questions. Completely revised and updated, this edition is the ideal book on valuation for CEOs and corporate strategists. You'll gain an understanding of the vitality of today?s valuation models and develop the acumen needed for the most complex and subtle valuation scenarios you will face.
Download or read book A Tea Reader written by Katrina Avila Munichiello and published by Tuttle Publishing. This book was released on 2017-03-21 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Tea Reader contains a selection of stories that cover the spectrum of life. This anthology shares the ways that tea has changed lives through personal, intimate stories. Read of deep family moments, conquered heartbreak, and peace found in the face of loss. A Tea Reader includes stories from all types of tea people: people brought up in the tea tradition, those newly discovering it, classic writings from long-ago tea lovers and those making tea a career. Together these tales create a new image of a tea drinker. They show that tea is not simply something you drink, but it also provides quiet moments for making important decisions, a catalyst for conversation, and the energy we sometimes need to operate in our lives. The stories found in A Tea Reader cover the spectrum of life, such as the development of new friendships, beginning new careers, taking dream journeys, and essentially sharing the deep moments of life with friends and families. Whether you are a tea lover or not, here you will discover stories that speak to you and inspire you. Sit down, grab a cup, and read on.
Download or read book Cash Management Managing the Cash Flows Bank Balances and Short term Investments of Non profit Institutions written by Joseph Van Fenstermaker and published by . This book was released on 1966 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding Cash Flow written by Franklin J. Plewa, Jr. and published by John Wiley & Sons. This book was released on 1995 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term "cash flow" is used to describe the analysis of all the changes that affect a company's cash account during an accounting period. This book tells readers everything they need to know to understand cash flow and incorporate that knowledge into their strategic management process.
Download or read book Investment Valuation written by Aswath Damodaran and published by John Wiley & Sons. This book was released on 2002-01-31 with total page 1014 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuation is a topic that is extensively covered in business degree programs throughout the country. Damodaran's revisions to "Investment Valuation" are an addition to the needs of these programs.
Download or read book Cash Flow Statement Basics written by Axel Tracy and published by Createspace Independent Publishing Platform. This book was released on 2015-12-24 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Make Hay from the Most Underestimated Financial Statement Cash Flow Statement Basics: From Confusion to Comfort in Under 35 Pages Improve your investment and business financial outcomes * Learn about the cash flow statement and the operating, investing & financing cash flows * Assess how a business is raising and returning capital, what it's investing in and how well it succeeds at its core functions * Analyse any stock or business better than ever before Enjoy the confidence built by higher education and your new, advanced knowledge * Cash Flow Statement Basics is tutorial-like and is clear and simple * Keep it as a reference and treat it as knowledge for life * Written in a friendly, conversational tone you are treated like a smart, intelligent businessperson or investor, that just isn't an accountant Make better business and investment decisions that will lead to higher earnings * Cash Flow Statement Basics offers strong guidance on performing analysis * You will know what to look for when performing cash flow analysis * Use the lessons in the real-world as soon as you're finished Use your time efficiently and wisely, don't regret wasted time * Cash Flow Statement Basics is concise and to the point, it's a complete lesson in under 35 pages * Don't be swamped with excess detail: Learn quickly and apply just as fast * Use it for practical, real-world application, not only theoretical curiosity Advance your skill set and future proof your finances * Cash Flow Statement Basics is part of a 3-book series * So if you want, you can continue to learn more * You can begin an accounting skills journey Feel the comfort of ongoing reader support from an experienced teacher * The author has had years of experience teaching complex accounting concepts to students of various standards * Further, Cash Flow Statement Basics is part of a suite of business products * Thus you have more support if you need it along the way Check out the Table of Contents Read A Few Intro Pages AND Make the Exciting Decision to Pick Me Up
