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Advanced Capital Budgeting: Refinements in the Economic Analysis of Investment Projects

Bierman Jr., Harold; Smidt, Seymour

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ISBN 10: 0415772052 / ISBN 13: 9780415772051
Published by Routledge
Used Condition: Very Good Hardcover
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0415772052 very good condition, pages are clean and free of markings, light wear to corners and edges, ships same day or next. Bookseller Inventory # 144000065

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Bibliographic Details

Title: Advanced Capital Budgeting: Refinements in ...

Publisher: Routledge

Binding: Hardcover

Book Condition:Very Good

About this title

Synopsis:

Written by authors of established texts in this area, this book is a companion volume to the classic The Capital Budgeting Decision. Exploring this key topic in corporate finance the authors examine the complexities of capital budgeting as well as the opportunities to improve the decision process where risk and time are important elements.

Containing ‘Global Aspects’ sections that cover cross-border decision-making, this book also emphasizes the application of capital budgeting techniques to a variety of issues, including the hugely significant ‘buy versus lease’ decision that cost corporations billions each year.

It gives in-depth coverage to:

  • real options - the value of a project must take into consideration the flexibility that it provides management, acknowledging the option of making decisions in the future when more information is available
  • decomposing cash flows - a project consists of many series of cash flows and each series deserves its own specific risk-adjusted discount rate. Decomposing the cash flows of an investment highlights the fact that while managers are generally aware that divisions and projects have different risks, too often they neglect the fact that the cash flow components may also have different risks, with severe consequences on the quality of the decision-making.

Designed to assist those making business decisions at all levels, this volume is essential reading for all those working in or studying capital budgeting.

About the Author:

Harold Bierman, Jr., is the Nicholas H. Noyes Professor of Business Administration at the Johnson Graduate School of Management, Cornell University.

Seymour Smidt is Professor Emeritus at the Johnson Graduate School of Management, Cornell University.

"About this title" may belong to another edition of this title.

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