Marriott Corporation: The Cost of Capital Simrith Sidhu‚ Amy-Jane Miocevich‚ Jacques Rousset‚ Jing Tao Task One: Marriott uses the Weighted Average Cost of Capital (WACC) to measure the opportunity cost for investments. WACC is calculated using the 1987 financial data provided in the Marriot Corporation: The Cost of Capital (Abridged) case study and estimators. WACC = Cost of Equity x (Equity/Debt +Equity) + Cost of Debt x (Debt/(Debt + Equity)) x (1 – Tax Rate) This method is applied for
Premium Investment Finance Net present value
Equity Valuation Lecture Map Definitions of Value Book value‚ Liquidation value‚ Intrinsic value‚ Market value Dividend discount models Constant-growth Multi-stage growth Value Metrics and Determinants of Value Current earnings and growth P/E Lesmond 1 Book Value of Equity The firm’s equity value‚ or stock value‚ is stated right on the firm’s books This is NOT the market value of equity Book value per share of Equity is the value of common equity on the books‚ divided
Premium Generally Accepted Accounting Principles Asset Balance sheet
Cash? Or Everything That’s Not Cash? In the 1960’s‚ Frederick Herzberg told us that money is a lousy motivator. I have to disagree with this theory‚ based on the reasons people get jobs and my own personal working experience. There are many reasons people do get jobs‚ but most of the main reasons still stem back to money‚ whether is health insurance‚ free services through the employer‚ or the actual pay itself. There may be other types of motivators as well‚ but the main reason that person
Premium Employment Pension Motivation
on top. Rock music has had a huge impact on peoples daily lives while staying on top. The most common instruments you would see at a Rock Show/ Stage: Guitars whether Acoustic or Electric‚ Bass Guitar‚ Keyboards (optionally)‚ Drum Kit‚ and Of Course Microphones for Vocals‚ There are other Rock bands who like to experiment on different instruments and using them for regular use e.g. Different choice of guitars such as classical‚ acoustic and Double necked‚ More keyboards
Premium Rock music Rock and roll Blues
Free cash flow In corporate finance‚ free cash flow (FCF) is cash flow available for distribution among all the securities holders of an organization. They include equity holders‚ debt holders‚ preferred stock holders‚ convertible security holders‚ and so on. G. Bennett Stewart - the "economic model of value holds that share prices are determined by just two things: the cash to be generated over the lifetime of a business and the risk of the cash receipts”. GSB (1990)‚ “The Quest for Value”
Premium Generally Accepted Accounting Principles Cash flow Free cash flow
ALTRIA GROUP‚ INC. (MO) 10-Q Quarterly report pursuant to sections 13 or 15(d) Filed on 07/26/2012 Filed Period 06/30/2012 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON‚ D.C. 20549 FORM 10-Q (Mark One) ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30‚ 2012 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period
Premium Balance sheet Income tax in the United States Asset
instruments used‚ and tone. Many things in showtunes have changed throughout the course of time while some have stayed the same. Each decade does have very important aspects‚ and here is why; In the 1960’s‚ showtunes were very upbeat. Many shows of the 60’s very “belty” singers and in their voice there is still a very sixties rock sound. Music around the world was changing‚ with the formation of many bands‚ such as; The Beatles‚ The Beach Boy‚ and The Rolling Stones. In most showtunes of this decade
Premium Rock music The Beatles Rock and roll
corporations outline Georgetown University Law Center Prof. James V. Feinerman Fall 2012 I. Agency‚ Partnership and Limited Liability Companies 1 AGENCY Agency is a fiduciary partnership that results from the manifestation of consent by one person to another that the latter shall act on the former behalf & subject to his control‚ & consent by the latter so to act. E.g. Shareholders (principals) – officers (agencies). Principal: Has power to dictate how the agent will
Premium Corporation Partnership
obligations (CFXOs)”‚ Structured Credit‚ Special Report‚ April. Flood‚ R and A Rose (2002): “Uncovered interest parity in crisis”‚ IMF Staff Papers‚ vol 49‚ pp 252–266. Galati‚ G‚ A Heath and P McGuire (2007): “Evidence of carry trade activity”‚ BIS Quarterly Review‚ September‚ pp 27–41. Gilli‚ M and E Këllezi (2006): “An application of extreme value theory for measuring financial risk”‚ Computational Economics‚ vol 27‚ pp 1–23. Gudmundsson‚ M (2007): “Financial globalisation: key trends and implications
Premium Foreign exchange market United States dollar
if he is also eligible for a mortgage interest credit. He checks with his tax preparer to find out what would make him eligible. Which of the following would qualify a taxpayer for a mortgage interest credit? a) b) c) d) 4. Owned a home Paid mortgage interest Received a mortgage credit certificate Files a Schedule A Which of the following is an invalid condition in which Mr. Smith’s mortgage credit certificate must be used? a) b) c) d) 5. On Form 8863 Is not reported
Premium Taxation in the United States Taxation Tax