* PV(CF) = CF/(1+r)t AKA PV = FV/(1+r)t * NPV = PV(CFs) – Investment = -C0 +C1/(1+r)+C2/(1+r)2+C3/(1+r)3+… = ∑(Expected CFt)/(1+r)t – Investment * Perpetuity – pays a fixed amount C per period forever * P(C‚r) = C/r requires cash flow to begin NEXT period. If begin now‚ then PV = C + C/r * Annuity – fixed stream of cash flows that has a final period t * A(C‚r‚t) = C/r [1-1/(1+r)t] * Growing Perpetuity – G(C‚r‚g) = C/(r-g) C is initial cash flow‚ r is discount rate
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Introduction After years as a teacher and principal frustrated by the inability to effectively track school and student progress‚ Stacey Boyd and HBS classmate Mandy Lee founded Project Achieve‚ an information management system for schools. In a quickly changing industry with fast-moving competitors‚ Project Achieve aimed to use leading-edge technology to reduce the workload of teachers and administrators while simultaneously keeping parents and students aware of performance. In an attempt to
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largest emerging markets economies.(Sauvant‚ 2008) They account for almost three billion people‚ or just under half of the total population of the world. (Sauvant‚ 2008). The BRIC have also contributed to the majority of world GDP growth recently. (Torrington et al 2011). There are many implications which will be discussed throughout the course of this essay such as competition between these emerging markets‚ emerging market strategy‚ flexibility between these markets and the cost control element between
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Shady Trail Case Study Executive Summary After analyzing the numbers and the market and property factors involved with Shady Trail‚ it is my opinion that this property is a reasonable one to invest in. It meets the criteria we had previously set forth in choosing an investment property as both the IRR and the current cash flows are in excess of the minimum we mandated. These numbers require that the assumptions we use in market rent‚ cap rate in 2003‚ vacancy rate‚ and our plans to sell the
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Course Description The aim of this introductory course in corporate finance is to provide students with fundamental concepts for understanding firms’ financing decisions and the basic tools for the valuation of a corporation. This course is divided into two parts. Section I discusses valuation frameworks and the theory of corporate finance. The concepts developed in this section will be useful for economic decisions making irrespective of whether you intend to specialize in finance or not
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recruitment by advertising. SECTION 1 Review of literature on the topic of recruitment by advertising. In this section‚ I will be discussing the views of Torrington‚ Hall and Taylor (2008) and Michael Armstrong (2006) on the topic of recruitment. More specifically on the method of recruitment by advertisement. The section will be divided into three parts. In part one I will be giving a short introduction‚ explaining the general topic of recruitment by advertising. Part
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a negotiated transaction was not possible. So Simon made an effort to acquire Taubman‚ notwithstanding the fact that Taubman ’s board of directors was not selling the company. This case discusses issues of Real Estate Investment Trust (REIT) valuation‚ financial policy‚ and corporate governance‚ as Robert Taubman and his company ’s independent directors must decide whether to accept the $20 per share offer and‚ if not‚ what other action to take. Analysis: 1) As a Taubman Centers‚ Inc. independent
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Valuation: Basics! Aswath Damodaran Aswath Damodaran! 1! Approaches to Valuation! Intrinsic valuation‚ relates the value of an asset to the present value of expected future cashflows on that asset. In its most common form‚ this takes the form of a discounted cash flow valuation. Relative valuation‚ estimates the value of an asset by looking at the pricing of ’comparable’ assets relative to a common variable like earnings‚ cashflows‚ book value or sales. Contingent
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period‚ managers meet with employees‚ and discuss a list of objectives to be met. At the end of the period‚ employees¡¦ work performance is assessed based on the achievement of those objectives‚ and their pay is directly linked with the appraisal. (Torrington‚ Hall and Taylor‚ 2005) 2. Is PRP fundamentally flawed There has been a rise of a interesting phenomena with respect to PRP in the past two decades. On one hand‚ it has attracted a lot of criticism from academic researchers in the reward field
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Book Information Page Financial Management 5e Principles & Practices By Timothy Gallagher Colorado State University 3 things about Gallagher 5e 1. Complete coverage of recent financial crises\great recession 2. Review of systematic risk and “too big to fail” concepts 3. Best value proposition on the market (see quote on backside) 3 things about Textbook Media Press* 1. Proven content from trusted authors since 2004 2. Unique student options (online; desktop-PDF; paperback; iPhone)
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