Proceedings of the Eastern Asia Society for Transportation Studies‚ Vol. 5‚ pp. 592 - 607‚ 2005 Application of DEA and SFA on the Measurement of Operating Efficiencies for 27 International Container Ports Lie-Chien Lin Associate Professor Department of Logistics Management National Kaohsiung First University of Science and Technology 2‚ Juoy Rd. Kaohsiung‚ Taiwan Fax: +886-7-6011040 E-mail: lclin@ccms.nkfust.edu.tw Lih-An Tseng Warehouse Officer Research and Development Department
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Dealing with Operating Leases in Valuation Aswath Damodaran Stern School of Business 44 West Fourth Street New York‚ NY 10012 adamodar@stern.nyu.edu Abstract Most firm valuation models start with the after-tax operating income as a measure of the operating income on a firm and reduce it by the reinvestment rate to arrive at the free cash flow to the firm. Implicitly‚ we assume that the operating expenses do not include any financing expenses (such as interest expense on debt). While this assumption
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Week 4 Assignment Integrative Problem and Study Questions 1. Why is the capital-budgeting process so important? Capital budgeting decisions involve investments requiring large cash outlays at the beginning of the life of the project and commit the firm to a particular course of action over a relatively long period of time. As such‚ they are costly and difficult to reverse‚ both because of: (1) their large cost and (2) the fact that they involve fixed assets‚ which cannot be liquidated
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University of Phoenix Material Capital Budgeting Worksheet Read the scenarios below and select one to review and analyze. Determine the proposal’s appropriateness and economic viability. For all scenarios‚ assume spending occurs on the first day of each year and benefits or savings occurs on the last day. Assume the discount rate or weighted average cost of capital is 10%. Ignore taxes and depreciation. Proposal A: New Factory A company wants to build a new factory for increased capacity
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weeks. The budget for this project was $2‚750‚000.00. The Project Manager for this project has been instrumental in making sure that everyone has been included and is aware of the progress being made. This was done by communicating with email‚ memos and as well as phone calls. The project is currently within the budget and is progressing according to schedule. The total cost is estimated at $2‚631‚468.00 and that makes the project come in under budget at $118‚532. The budget during the
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UV0010 NIKE‚ INC.: COST OF CAPITAL On July 5‚ 2001‚ Kimi Ford‚ a portfolio manager at NorthPoint Group‚ a mutual-fund management firm‚ pored over analysts’ write-ups of Nike‚ Inc.‚ the athletic-shoe manufacturer. Nike’s share price had declined significantly from the beginning of the year. Ford was considering buying some shares for the fund she managed‚ the NorthPoint Large-Cap Fund‚ which invested mostly in Fortune 500 companies‚ with an emphasis on value investing. Its top holdings included ExxonMobil
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review Materials ch24 Student: 1. Standard costs can serve as a basis for evaluating actual performance. True False 2. Standard material‚ labor‚ and overhead costs can be obtained from standard cost tables published by the Institute of Management Accountants. True False 3. Standard costs provide a basis for assessing the reasonableness of actual costs incurred for producing a product or service. True False 4. When standard costs are used‚ factory overhead is assigned to products
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Case Solution Cost of Capital at Ameritrade | | • Executive summary: Formed in 1971 and listed in March 1997‚ Ameritrade has been one of the most successful players in the deep- discount brokerage sector. Ameritrade’s two major sources of revenue‚ Transaction income (brokerage commissions‚ clearing fees‚ and payment for order flow) and Net interest revenues that were generated from net balance
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Cost of Capital at Ameritrade What factors should Ameritrade management consider when evaluating the proposed advertising program and technology upgrades? Why? Mr. Ricketts believes that his role as CEO is to maximize shareholder value by accepting any project whose expected return on investment is greater than the cost of capital. Therefore‚ the main factors that Ameritrade management should consider are the expected return on investment for the project‚ and how this compares to the project’s
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Service Plc-Cost of Capital Objective: Lex service Plc sold its various subsidiaries and other assets in between 1991 and 1993 which provides more than £340 million of funds. To reinvest this huge amount of funds it evaluates many investment options and acquisitions. To evaluate the worth of new investments‚ Lex uses discounted cash flow analysis. In order to employ DCF analysis method‚ discount rate or cost of capital required. Now the question is arises ‘what should be real cost of capital’. Case
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