Lecture 03: Applying the Time Value of Money to Security Valuation – Valuation of Bonds and Debt Securities A bond or a debenture is a long term debt instrument carrying a fixed rate of interest which is known to investors. A bond is redeemable after a specified period. Bonds are also called gilt edged securities or gilt when issued by the government since it is free of default risk. Features of a Bond or Debenture • Face Value – Face value is called par value. A bond / debenture is generally
Premium Bond
Techniques in Finance & Valuation 1 What is Valuation? Valuation: Methods of quantifying how much money something should be exchanged for today‚ considering future benefits. We will teach 4 valuation methods Trading Comparables Transaction Comparables Sum-of-the-Parts Valuation Discounted Cash Flow Analysis (DCF) $ 2 Why is Valuation important? Acquisitions: How much should we pay for the company? Divestitures: How much should we sell our company for? Sell-side Research: Should our clients
Premium Free cash flow Cash flow Discounted cash flow
LAB REPORT WOODLICE Daan Rijpkema May 2009 T4Y - General Science X Words TABLE OF CONTENTS Aim..........................................................................................................................................................2 Hypothesis...............................................................................................................................................2 Materials ............................................................................
Premium Petri dish Time Stanford prison experiment
25814-P.R.(081-090)Uncertainty 8/8/00 8:56 AM Page 81 Strategy under uncertainty Hugh G. Courtney‚ Jane Kirkland‚ and S. Patrick Viguerie The traditional approach to strategy requires precise predictions and thus often leads executives to underestimate uncertainty. This can be downright dangerous. A four-level framework can help. A t the heart of the traditional approach to strategy lies the assumption that executives‚ by applying a set of powerful analytic tools‚ can predict
Premium Strategic management Future Game theory
Share Valuation Valuation Situations 1. Initial Public Offerings (IPOs) An initial public offering is the first sale of shares by a company to the public. The shares then become publicly traded. 2. Management Buy-outs (MBOs) A management buy-out is a form of acquisition in which the existing managers of a company acquire a large part or all of the shares of the company. 3. Management Buy-ins (MBIs) A management buy-in is a form of acquisition in which a manager or management team from
Premium Balance sheet Net present value Stock market
Achilles and Gilgamesh: Epic Heroes‚ Loss‚ and Mortality Recent studies have begun to see the Homeric epics in the light of other epic traditions‚ notably epics from Mesopotamia‚ and have begun to look at striking similarities. There is a supposed lineage that can be seen connecting the Homeric epics most directly with the world of Akkadian epics (Gresseth 2). The connections run from similarities in methods of transmission‚ namely the oral traditions‚ to themes‚ characters and formal structural
Premium Epic of Gilgamesh Epic poetry Homer
Man and Humanity in Search of Peace and New Future March 28th‚ 2013 Mahboob A. Khawaja‚ PhD “The hell of human suffering‚ evil and oppression is paved with good intentions. The men who have most injured and oppressed humanity‚ who have most deeply sinned against it‚ were according to their standards and their conscience good men; what was bad in them‚ what wrought moral evil and cruelty‚ treason to truth and progress‚ was not at all in their intentions‚ in their purpose‚ in their personal
Premium 21st century Human Conscience
future growth of the company and this will be reflected on the future ROE. Growth in book value of the equity: the growth of equity base in positive value project will increase the equity value to book multiple. 2. Match the price-to-book equity valuation multiple below with each of the four restaurant business discussed above. What is your reasoning for the matches you selected? WShen making the matching‚ my reasoning based on the following factors: Financial
Premium Financial ratios Margin Leverage
Saint Vincent Ferrer Roman Catholic Church Saint Vincent Ferrer Roman Catholic Church is located at 1530 Jackson Ave‚ River Forest‚ Illinois. In 1931 a temporary was built and its final construction was completed in 1956. The church was named in honor of St. Vincent Ferrer who was a member of the Dominican order and known as “the Patron of Builders.” One important fact about this church is that it is owned by the Dominican order. This privilege was granted by The Archdiocese of Chicago to the
Premium Gothic architecture Stained glass Catholic Church
Animals should not be kept in any form of captivity. Animals belong in their natural habitat. It is a breach of their natural rights to take them away‚ and put them behind bars. All animals that are kept in captivity should be realized into the wild. Healthy News In zoos around the world animals are suffering Weird News. Every day animals are taken out of their natural habitat and put behind bars‚ purely for our benefit. Studies have shown that these animals are suffering form severe cases of depression
Premium The Animals Biodiversity Natural environment