LECTURE STOCK VALUATION 1. Common stock valuation A share of common stock is more difficult to value in practice than a bond‚ for at least three reasons. First‚ with common stock‚ not even the promised cash flows are known in a advance. Second‚ the life of the investment is essentially forever‚ since common stock has no maturity. Third‚ there is no way to easily observe the rate of return that the market requires. Nonetheless‚ as we will see‚ there are cases in which we can come up with
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CHAPTER 6 VALUATION AND MANAGEMENT VALUATION AND MANAGEMENT OF BONDS All Rights Reserved © Oxford University Press‚ 2011 2 CONTENTS Introduction Features of the bond Face Value l Coupon Rate Periodicity of coupon payments Maturity Redemption Value Fixed and Floating Rate Bonds Indexed Bonds Callable & Puttable Bonds C ll bl & P tt bl B d Zero Coupon and Deep Discount Bonds Convertible Bonds CHAPTER 6 Types of Bonds Types of Bonds
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A Comprehensive Business Reporting Model Financial Reporting for Investors July 2007 CFA Institute Centre Comprehensive Business Reporting Model Staff Kurt Schacht‚ CFA Managing Director Rebecca McEnally‚ CFA Capital Markets Policy Group Georgene Palacky‚ CPA Director Financial Reporting Group Members of the Comprehensive Business Reporting Model Subcommittee and the Corporate Disclosure Policy Council Gerald I. White‚ CFA‚ Chair Grace & White Inc. New York‚ NY United States
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A company cannot achieve efficiency and effectiveness using one single model. Based on the complexity‚ some functions need more delegation and some areas needs tight integration. Organizational structure significantly influences firm performance. I am working for a multi-nation company‚ involved in various global initiatives to reduce manufacturing cost by consolidating global demand‚ establishing global product sourcing and global IT systems. I have seen “Pressure for integration” from Top management
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growth with debt‚ and thus contributes to stable earnings as a result of less additional interest expense. Above all‚ the company is in a good condition and enjoys a promising future development. Alternative Valuation Method Since Evolution Petroleum Corp. is an E&P company‚ DCF model
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1. Key Performance Indicators for Restaurants‚ Cafes‚ Catering‚ Clubs & Hotels http://www.profitablehospitality.com/public/88.cfm 1) Financial perspective * Reduce food loss 2) Internal business perspective * Follow preparation * Follow schedule * Teamwork * Job performance 3) Customer perspective * Challenge 4) Learning and growth perspective * HR development * Self- improvement * Employee’s performance was evaluated through observations
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Question 1 2 out of 2 points A local restaurant offers an "all you can eat" Sunday brunch for $12. Jenica eats two servings but leaves half of a third helping uneaten. Why? Selected Answer: Her marginal value of an additional bite of food has fallen to zero. Correct Answer: Her marginal value of an additional bite of food has fallen to zero. Question 2 2 out of 2 points Websites‚ such as Craigslists and eBay‚ function as middlemen by Selected Answer: increasing the efficiency
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Market at compelling Valuation–Good Opportunity to buy quality in staggered way (Based on Mean Reversion Theory) Dividend Yield‚ Price/Sales and EV/Sales ratios are more consistent to evaluate the valuations for equity markets. Generally the most popular tool-PE ratio is used to gauge the top and bottom of market. Contrary to this‚ we found that the above mentioned ratios have low standard deviation vis a vis PE or other multiples and hence are better for overall market valuation. Even though the
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identify what is driving this business model by analyzing the firm’s asset management‚ capital structure and its ability to generate cash. In doing so we include 2 peer comparisons‚ namely Costco and Target. 1.1 The company and the industry. Wal-Mart market position. Wal-Mart is the largest retailer in the world. The company has retail stores worldwide‚ with 10‚773 stores recorded across 27 countries at the end of January 2013. Wal-Mart operates through three business segments‚ namely Wal-Mart US
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FINM 3005‚ Corporate Valuation Semester 2‚ 2014 Lecture 2 Building a Company Model Lecturer: Jozef Drienko ANU School of Finance‚ Actuarial Studies and Applied Statistics Agenda for today’s lecture 1. Overview of building a company models and Assignment 1 2. Overview of the KGW valuation model 3. General advice on structuring your company model 4. Estimating ROIC (Return On Invested Capital) 5. Wrap-up . . . what’s next?? 2 Company models A company model is a representation of the financial
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