Cost of Capital: Estimation and Applications - Couverture rigide

Pratt, Shannon P.

Couverture rigide

ISBN 10 : 0471224014 ISBN 13 : 9780471224013

Editeur : John Wiley & Sons Inc, 2002

Synopsis

Book by Pratt Shannon P

A propos du livre

Présentation de l'éditeur

Praise for Fourth Edition of Cost of Capital Workbook and Technical Supplement

"Pratt and Grabowski went the extra mile to supplement their magnum opus by providing this Workbook and Technical Supplement. As a finance professor for many years, I know from experience that students and teachers really value supplements to textbooks. It allows the teacher to help the student to review and apply what was presented in the text, and the PowerPoints are a great service to teachers in course preparation. The website provides various worksheets that show the inner workings of the models. I enthusiastically recommend the Workbook and Technical Supplement to finance professors and teachers and their students.
Daniel L. McConaughy, PhD, ASA, Professor of Finance, California State University, Northridge, Valuation Services, Crowe Horwath LLP

"The Workbook and Technical Supplement provides a detailed tutorial on understanding and executing the theoretical concepts explained in the Fourth Edition. This supplement is three books in one. Part One is a step–by–step tutorial on estimating certain key components of the cost of equity capital. Part Two provides a bridge between the theory and some practical applications, such as estimating the cost of capital for real property. Parts Three and Four allow the readers to test their comprehension of the concepts and identify areas for a review. It is almost as good as having Professors Pratt and Grabowski looking over your shoulder to ensure that one is both comprehending and correctly implementing the complex concepts.."
Ashok Abbott, PhD, Associate Professor of Finance, College of Business & Economics, West Virginia University

"This text provides the most comprehensive coverage of cost of capital issues that I have seen to date. Messrs. Pratt and Grabowski have created a very accessible and lucid treatment of what most would consider an opaque subject. The Fourth Edition is especially important for its new topics as well as expanded coverage of concepts from earlier editions. Of particular interest is the review of the extreme market conditions during the 2008 2009 crisis and the effect that the unprecedented volatility had on traditional cost of capital models. For years, Pratt and Grabowski′s research has informed the business valuation curriculum of the American Society of Appraisers. This book will be added to our reading list, and thousands of students worldwide will benefit from the state?of?the?art content of the Fourth Edition and the companion Workbook and Technical Supplement. Furthermore, Cost of Capital, Fourth Edition should be a mandatory part of every valuation practitioner′s library. If you buy this book, you can expect it to become well worn and remain on your desk within arm′s length until the publication of the Fifth Edition."
John Barton, ASA, CPA, Chairman, Business Valuation Committee, ASA

"Cost of capital is so much more complex than it used to be. With so many additional considerations regarding each variable of the cost of capital formula, this book is a must for anyone that needs to understand or develop a discount rate. Even the most experienced practitioner will benefit from the outstanding work of Pratt and Grabowski. This book has to become part of your library."
Gary R. Trugman, CPA/ABV, MCBA, ASA, MVS, President, Trugman Valuation Associates, Inc.

Quatrième de couverture

Cost of capital estimation has long been recognized as the most critical element in business valuation, capital budgeting, feasibility studies, and corporate finance decisions. It is also the most difficult procedure to perform and assess. In Cost of Capital: Estimation and Applications, renowned author and valuation expert Shannon Pratt addresses the most controversial issues and thorny problems in estimating the cost of capital. In a clear, concise, and easily understandable manner, he tackles all of the problems in calculating rates of return, and offers sensible, well–thought–out solutions that apply to small business and midsize companies as well as multibillion–dollar corporations.

Dr. Pratt lays out the basic tools that anyone can use immediately when estimating cost of capital or reviewing someone else′s estimate. He presents basic theory and explains how it is used in valuation of businesses and business assets, as well as in capital expenditure decision making; and he provides clear explanations for each of the mathematical formulas used. Citing comprehensive sources of information, Pratt also offers clear and complete definitions of all common terminology used in cost of capital estimation. He points out the errors that are common to the process and gives practical advice on how to avoid them when making an estimation and identify them in other people′s work. This remarkable book:

• Describes the development of discount and capitalization rates
• Offers in–depth coverage of valuation and corporate finance applications
• Provides needed data for borrowing money
• Supplies user–friendly models for applications in all contexts.

Cost of Capital combines a state–of–the–art treatise on cost of capital estimation with an accessible introduction for the nonprofessional. It begins with an exposition of basic concepts understandable to the layman and proceeds gradually from simple applications to the more complex procedures commonly found in the marketplace. Generously supplemented with tables, graphical diagrams, and step–by–step examples, this book is an indispensable resource for business appraisers, valuation professionals, consultants attached to accounting firms, and executives who must make important decisions based on their understanding of cost of capital estimations.

Détails de l'édition

• Éditeur: John Wiley & Sons Inc
• Date d'édition: 2002
• ISBN 10: 0471224014
• ISBN 13: 9780471224013
• Reliure: Relié
• Langue: anglais
• Numéro d'édition: 2
• Nombre de pages: 352