Income Securities Dr H. K. Pradhan Objectives: This course is intended to analyze the fixed income securities markets and its implications for investments. It will analyze the market characteristics‚ instruments‚ selling techniques‚ pricing and valuation issues‚ floating rate instruments‚ risk and return of fixed income securities‚ portfolio management techniques‚ term structure modeling‚ corporate debt and convertibles‚ bonds with embedded options‚ sub-national debt analysis‚ credit risk analysis
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Management is about how these Investment and Financing decisions should be made. This course explores the first part of Financial Management and introduces the framework‚ tools and techniques for making Investment decisions. Specifically‚ we will cover Valuation‚ Capital Budgeting‚ Modern Portfolio Theory and Equilibrium Risk-Return Relationship. GRADING: |Quizzes (3) |15% | |Midterm |30% | |Final
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When attempting to determine the valuation of LinkedIn it helps to understand some of the issues involved. The most accurate way to value a stock’s price is using discounted cash flows. The problem with this approach is that it is nearly impossible to predict with any accuracy what the long-term cash flows are for a given company; especially a company that is young or that might be using an innovative and new business model. Additionally‚ knowing what long-term cash flows look like requires knowledge
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APV and option valuation Valuing MW Acquisition by using APV method assumes in practice that exploiting of all MW’s reserves is certain and happens right after the acquisition. In other words‚ the APV method excludes the flexibility in future decision making. In this case‚ Apache has both an option to defer the exploiting of reserves into future and Apache may also choose not to exploit the MW reserves at all. As some of MW’s reserves are actually real options‚ the APV valuation method actually
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Market Information Lab CIQ202 PREREQUISITES • Capital IQ 101 – Tearsheets – Screening – Formula Builder – Excel Plug-in January 31‚ 2012 © Margolis Market Information Lab CIQ202 AGENDA • Mergers and Acquisitions • • • Valuation Capital IQ Screening Applications of Capital IQ Screening January 31‚ 2012 © Margolis Market Information Lab CIQ202 MERGERS AND ACQUISITIONS • Mergers and acquisitions significantly influence financial markets – Deals can range from
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MW Petroleum Corporation (A) 1. Structure and execute a DCF valuation of all the MW reserves using APV. How much are the reserves worth? Is your estimate more likely to be biased high or low? What are the sources of bias? Answer: The DCF valuation of all the MW reserves using APV indicates that the net worth of the portfolio is around $516.30 million. The estimate is more likely to be biased on the higher side. REVENUES: The data for the projections was collected by Morgan
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and Fallick (1993)‚ Gallasch (1975)‚ Gardner (1981)‚ Peterson (1957)‚ Peterson and Stewart (1969) · The minimum wage reduces employment most among black teenage males. Al-Salam‚ Quester‚ and Welch (1981)‚ Iden (1980)‚ Mincer (1976)‚ Moore (1971)‚ Ragan (1977)‚ Williams (1977a‚ 1977b) · The minimum wage helped South African whites at the expense of blacks. Bauer (1959) · The minimum wage hurts blacks generally. Behrman‚ Sickles and Taubman (1983); Linneman (1982) · The minimum wage hurts the unskilled
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Valuations Unlimited inc. Business Assessment ABC Ltd. Prepared for the Exclusive Use of: John & Sally Smith Date: March 5‚ 2009 Valuations Unlimited inc. TABLE OF CONTENTS Opinion of Value............................................................................. Restrictions‚ Assumptions & Limiting Conditions................................. BUSINESS SUMMARY...................................................................... Business Overview History of Company.......
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Business valuation is an art and not a science‚ because valuation methods involve subjective judgements of what a business might be worth on the day of valuation‚ or at some time in the future. From the seller’s point of view‚ the most important valuation opinion is that of a potential purchaser‚ and no book or article on business valuation is complete without the old chestnut that a business is only worth what a buyer is prepared to pay on the date the seller wishes to sell. Whatever valuation method
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about the private company’s balance sheet. A) Describe the various constraints of the valuation faced by NewGrade: NewGrade Energy’s current owners Crown Investment Corporation’s (CIC)‚ Chief Financial Officer (CFO) Blair Swystun‚ is evaluating the sale of 50% of the company’s interest. Before determining the sale of the company‚ the CFO will
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