Sistema de Bibliotecas Universidad de América | SISTEMA DE BIBLIOTECAS

ACERCA DE NOSOTROS

The capital budgeting decision : economic analysis and financing of investment projects / Harold Bierman, Seymour Smidt

By: Bierman, Harold [autor]
Contributor(s): Smidt, Seymour [autor]
Publisher: New York : Collier Macmillan International, 1971Edition: 3th edDescription: x, 482 páginas : ilustraciones, tablas ; 22 cmContent type: texto Media type: no mediado Carrier type: volumenSubject(s): Inversiones de capital | Politica financiera | Presupuesto de capitalDDC classification: 658.152
Contents:
The problem of capital budgeting. -- The meaning of present value. -- The use of cash flows in evaluating investments. -- The cost of capital. -- A manual for analyzing investment decisions. -- Evaluating private investment proposals: a national economic point of view. -- Uncertainty and financial policy. -- Models for portfolio analysis.
Summary: We continue to advocate the present-value method, using several discount rates, including a default-free discount rate, as a basis for making investment decisions. Accepting some investments with yields less than the cost of capital is considered more desirable than evaluating investments on the basis of the cost of capital implicitly including a risk discount and a measure of time-value preference. In expanding this treatment in the third edition, we have revised each chapter by clarifying the explanations and improving and adding appendixes. Theories have been modified to reflect recent research, and additional material on portfolio problems has been added. The book is again divided into three parts, enabling us to establish those condition in which the suggested decision rules are relatively effective and those in which their effectiveness is limited. Part I treats decisions under certainty in a perfect capital market. While these assumptions are not descriptive of the world, they do enable us to suggest solutions for some types of problems. Parts II and III introduce imperfect capital markets and uncertainty under which conditions the suggested solutions prove much less satisfactory.
Tags from this library: No tags from this library for this title. Log in to add tags.
    Average rating: 0.0 (0 votes)
Item type Current location Collection Call number Vol info Copy number Status Date due Barcode Item holds
Book Book B. Posgrados
Colección general
Colección general 658.152 B588 (Browse shelf) 3a ed. 1971 1 Available 0000041383
Total holds: 0

Include appendix tables, bibliography and index Material rayado con resaltador y esfero

The problem of capital budgeting. -- The meaning of present value. -- The use of cash flows in evaluating investments. -- The cost of capital. -- A manual for analyzing investment decisions. -- Evaluating private investment proposals: a national economic point of view. -- Uncertainty and financial policy. -- Models for portfolio analysis.

We continue to advocate the present-value method, using several discount rates, including a default-free discount rate, as a basis for making investment decisions. Accepting some investments with yields less than the cost of capital is considered more desirable than evaluating investments on the basis of the cost of capital implicitly including a risk discount and a measure of time-value preference. In expanding this treatment in the third edition, we have revised each chapter by clarifying the explanations and improving and adding appendixes. Theories have been modified to reflect recent research, and additional material on portfolio problems has been added. The book is again divided into three parts, enabling us to establish those condition in which the suggested decision rules are relatively effective and those in which their effectiveness is limited. Part I treats decisions under certainty in a perfect capital market. While these assumptions are not descriptive of the world, they do enable us to suggest solutions for some types of problems. Parts II and III introduce imperfect capital markets and uncertainty under which conditions the suggested solutions prove much less satisfactory.

There are no comments for this item.

to post a comment.

Powered by Koha