Early-Stage Valuation in the Biotechnology Industry Vinay Ranade February 2008 THE WALTER H. SHORENSTEIN ASIA-PACIFIC RESEARCH CENTER (Shorenstein APARC) is a unique Stanford University institution focused on the interdisciplinary study of contemporary Asia. Shorenstein APARC’s mission is to produce and publish outstanding interdisciplinary‚ Asia-Pacific–focused research; educate students‚ scholars‚ and corporate and governmental affiliates; promote constructive interaction to influence U.S
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Valuation Criteria for Cost Benefit Analysis 1. Principles of Cost Benefit Analysis Cost benefit analysis(CBA) is a process which is used to understand the monetary social costs as well as advantages of a capital investment project over a given time period. The principles of cost benefit analysis are based on three principles. The first is the appraisal of any specific project: This is an economic technique which is used by organizations as well as projects being handled by the government
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Throughout its history humankind asked itself this question and constantly tried to answer “no”. The idea of sentient living beings who are not people is present in writings of historians‚ geographers and other scientists for as long as the science itself exists. Mermaids‚ cynocephali‚ various bizarre species of beastmen‚ antipodes: all of them were embodiments of this dream. In course of time‚ the limits of the known Universe expanded and it became known that no such creatures existed. The only
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LEFT BRAIN FUNCTIONS uses logic detail oriented facts rule words and language present and past math and science can comprehend knowing acknowledges order/pattern perception knows object name reality based forms strategies practical safe | RIGHT BRAIN FUNCTIONS uses feeling "big picture" oriented imagination rules symbols and images present and future philosophy & religion can "get it" (i.e. meaning) believes appreciates spatial perception knows object function
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RJR NABISCO CASE Guzmán Colilla Barreiro Asset Valuation 02/04/15 Questions for RJR Nabisco case 1. What was the value of RJR Nabisco under Asset Beta: = 0.50 = 0.92 Ba=(0.50+0.92)/2 = 0.7 Assume that Rf = 9% (from the Marriott Case) Assume that Rp=8% (from the Marriott Case) Ka = Rf + BARp Ka = 9% + (0.7)(8%) = 14.6% a) The pre-bid operating strategy? b) The Management Group’s strategy? c) KKR’s operating strategy? 2. What accounts for any difference in the
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Say No to One Night Stand INTRODUCTION I. Attention Grabber Do you know what does one night stand means? The term ‘one night stand’ means that you have a sexual relationship with a person you meet or possibly a person you never meet before and both of you have no intention to ever meet again or to continue the relationship. It can happen anytime. II. Reveal Topic Today‚ I would like to talk about some of the harms of one night stand and persuade all of you to stay away from having this
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This report is constructed as follows: section I introduces the selected firm briefly; section II and III gives projected income statement and balance sheet; section IV demonstrates how we calculate FCF‚ followed by firm value estimation; section V provides a sensitivity analysis of firm value to sales growth rate‚ FCF growth rate in second stage and WACC. I Company Profiles Johnson & Johnson is a U.S. multinational medical devices‚ pharmaceutical and consumer packaged goods manufacturer founded
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point between the buyer and seller. 2. Costs included in the Merchandise Inventory account can include: E A. Invoice price minus any discount. B. Transportation-in. C. Storage. D. Insurance. E. All of the above. 3. The inventory valuation method that tends to smooth out erratic changes in costs is: B A. FIFO. B. Weighted average. C. LIFO. D. Specific identification. E. WIFO 4. Generally accepted accounting principles require that the inventory of a company be reported
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NEKN82 EMPIRICAL FINANCE LAB 3 Report Done by: Lang‚ Qin 1988-12-05 Low Lihui Valerie 1989-09-24 Q1 Before we evaluate the actual investment performance of the five constructed portfolios for period 1992.02-2008.07‚ we firstly calculate the mean‚ variance and standard deviation of each of the portfolio using Excel. The results are generated as below: Portfolios | Z1 | Z2 | Z3 | Z4 | Z5 | Zm | Mean | 0.008490 | 0.003843 | 0.009980 | 0.000141 | 0.004840 | 0.0066 | Variance |
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Finan Eskimo Pie Corporation (dollars in thousands except per share data) |1987 |1988 |1989 |1990 | |Net Sales |$30‚769 |$36‚695 |$46‚709 |$47‚198 | |Cost of Goods Sold |21‚650 |25‚635 |31‚957 |31‚780 | |Advertising and Sales Promotion |4‚742 |4‚241 |5‚030 |5‚130 | |General & Administrative |6‚068 |5‚403 |6‚394 |7‚063 | |Operating Income (Loss) |-1‚691 |1‚416 |3‚328 |3‚225 | |Interest Income |308 |550 |801 |1‚004 | |Interest Expense |-88 |-107 |-88 |-67 | |Other Income (Expense) net
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