What is the valuation problem here? In what currency are the cash flows denominated? In what currency should the discount rate denominated? Be sure you understand Exhibits 1‚ 2‚ 3‚ and 4 of the case. Juan chose DCF model to determine fair value of those subsidiaries. To properly apply DCF model WACC is a key underlying assumption. WACC composes of cost of debt and cost of equity. For cost of equity‚ Juan has some obstacles to determine it using CAPM model because following factors cannot be reasonably
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As I have gained experience over the years working and volunteering in the mental health field‚ I have come to the realization that I have an overwhelming passion for working with individuals in need of social‚ emotional and physical support. If I were given the opportunity to become a DFPS Statewide Intake Worker‚ my greatest challenge would be ensuring that the children and adults in the home are receiving the appropriate love and attention that they need from their caregivers. As a family oriented
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The IPO of CFAO – MCT 4 – 31 October‚ 2012 st 1 Corporate Finance Prof. Ken L. Bechmann‚ Ph.D. The IPO of CFAO ESSEC & MANNHEIM EMBA‚ Weekend 2013 MCT 4 Johannes Drexler Anton Golubev Fabricio Granados Curzio Scheurer Nataliya Shevchenko Matthias Wörner Mannheim Business School 31st October‚ 2012 The IPO of CFAO – MCT 4 – 31 October‚ 2012 st 2 1. Discuss the performance and financial strategy (capital structure) of CFAO in the 20062008 period. The management of
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CORPORATE VALUATION (Valuasi Korporat) Telah disadari bahwa corporate valuation merupakan alat manajemen yang semakin mendapat tempat sentral dalam pengambilan keputusan bisnis korporat. Alat ini amat berguna baik bagi outside maupun inside investor. Outside investor menggunakan alat sebagai sarana analisis yang akan memberikan masukan untuk keputusan beli‚ jual atau memegang suatu aset. Sedangkan inside investor menggunakannya untuk mengevaluasi pilihan-pilihan strategi bisnis dan
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Investor meeting 5 March 2009 0 Safe harbour statement This presentation may contain forward-looking statements‚ including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts‚ nor are they guarantees of future performance. Because these
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91. VITAL LD-578 SPARE PART: CUFF‚ Model No-R. Cuff Short Description- VITAL LD-578 SPARE PART: CUFF is a superior quality cuff facilitates in taking an accurate measurement of blood pressure. Description- VITAL LD-578 SPARE PART: CUFF arm cuff is regular sized wraps that around the arm suitably and give perfect fit that helps in taking an accurate measurement of blood pressure. This cuff is made from the excellent quality clinical grade materials that provides with great grip. It easily connects
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Equity 3.8% Return on Assets 2.0% Est. 5 Years EPS 16.78% Growth Rate (2002-2006) Industry Entertainment – Media Conglomerate P/E Valuation $ 28.71 PEG Valuation $ 43.92 M/B Valuation $ 14.02 EBO (Abnormal Earnings) Valuation $ 5.86 DCF Valuation $ 17.87 Performance of DIS Trailing Return on Disney Return on S&P 500 Return on Competitors DIS • • • • • $ 20.47 6 mo -54% -17% -52% 12 mo 24 mo -29% -14% -13% - 09% -14% -24% S&P 500 Slow economy‚ lower
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PROJECT REPORT ON “KINGFISHER AIRLINES” [pic] Submitted in Partial Fulfillment for the Award of the Degree of Bachelor in Business Administration 2010-2012 Under the Guidance of:
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COMPASS RECORDS BACKGROUND Compass records is a small‚ independent music recording company and co-founded in 1994 by musicians Alison Brown and Garry West. Compass is a new breed of roots-music label: eclectic‚ sophisticated‚ and artist-friendly. It is called “one of the greatest independent labels of the last decade” by Billboard Magazine‚ Compass Records has provided a thriving haven of creativity for artists and a reliable beacon of quality for music fans. Its 2006 acquisition of the Green
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rate ( lower discount factor (lower NPV Investment Decision Rules: 1. accept if positive NPV 2. accept w rate of return > opp cost or hurdle rule PV = C1* [1/(1+r)] = Discount factor * cash flow (calc: usually -PV ) Discount factor (DCF) = 1/(1+r) or PV/FV ** will be < 1 ** NPV = C1 + C1* [1/(1+r)] If PV of $1 received n years from today at an interest rate of r=.270 then what is the future value of $1 invested today at an interest rate of r% for n years? FV = 1/(.270) =
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