Cost Of Capital A Financial Tool To Create And Maximize Shareholder Value
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| Author | : EMMANUEL ATTAH KUMAH |
| Publisher | : Lulu.com |
| Total Pages | : 140 |
| Release | : 2013-07-27 |
| Genre | : Business & Economics |
| ISBN | : 1304260453 |
The cost of capital is important in the financial management of every business. A measure of the cost of capital is required when evaluating various aspects of strategic business plans, e.g., selecting a financial leverage position, calculating the profitability of alternative investment opportunities, measuring economic value-added and comparing various merger and acquisition plans. The task of determining the appropriate cost of capital to use requires a careful analysis of the effect of alternative financing choices which are open to every business. This report considers the cost of capital of Royal Roots Company. Ways are examined to determine the cost of capital by Royal Roots Company. This book sequentially identifies: principles of cost of capital, the capital structure, the cost of debt, cost of equity, cost of preference shares and overall cost of capital (weighted average cost of capital).The cost of equity capital and debt determines the overall cost of capital of any company (public or private)
| Author | : |
| Publisher | : Richard Malekian |
| Total Pages | : 172 |
| Release | : |
| Genre | : |
| ISBN | : |
| Author | : Andrew Black |
| Publisher | : Financial Times/Prentice Hall |
| Total Pages | : 396 |
| Release | : 2001 |
| Genre | : Business & Economics |
| ISBN | : |
Shareholder value can no longer be seen as the latest craze in the corporate classroom. It's grown up. It's redefining the syllabus by which we learn to profit or perish. It has moved into the mainstream of global corporate life where would-be winners can no longer afford to ignore it.Drawing on the experience of PricewaterhouseCoopers' worldwide network of companies and clients, this new edition of a best-selling title will provide you with the key to unlocking the secrets to real wealth creation. The impact of the information revolution, the integration of capital markets, and the increased ability of investors to compare and contrast corporate performance has put shareholder value high on the corporate agenda. These days, investors injecting money into your company are looking for a financial return as good as, if not better than, if they had invested in any other. Today's businesses need to maximize value for their shareholders or watch their share price plummet as investors vote with their feet and transfer their money and their trust into competitors' hands.Benefits In Search of Shareholder Value explains the concept of shareholder value and shows how it can help companies and their managers make better, more informed, and proactive decisions. It looks at the philosophy of value creation and at the global financial environment in which value-based management can thrive, and it transforms the insights of market analysts into management tools that can be used throughout the company to add genuine improvements to performance. The book covers every aspect of learning how to deliver value to your investors, including: introducing the basic concepts of shareholder value analyzing the theory and history behind shareholder value establishing the true cost of your capital the market's preference for judging performance on cash flow rather than profit and loss how shareholder value is being applied within emerging economies. principels of value-based management
| Author | : Roger A. Morin |
| Publisher | : McGraw Hill Professional |
| Total Pages | : 424 |
| Release | : 2000-12-27 |
| Genre | : Business & Economics |
| ISBN | : 9780071379861 |
BusinessWeek and Harvard Business Review tout value-based management as the benchmark for creating and enhancing shareholder value. Numerous industry-leading companies embrace VBM. Now Driving Shareholder Value travels to the heart of VBM, providing approaches, perspectives, and strategies managers can use to implement VBM for better decisions and maximized shareholder wealth. The authors’ one-of-a-kind value creation framework—complete with dozens of useful worksheets, checklists, case studies, and more—draws on current practices plus 25 years of VBM lessons, including: *The four guiding principles of VBM activities *Five steps to institutionalizing VBM *An integrative VBM framework—complete with step-by-step examples
| Author | : Alfred Rappaport |
| Publisher | : Simon and Schuster |
| Total Pages | : 225 |
| Release | : 1999-10-13 |
| Genre | : Business & Economics |
| ISBN | : 0684844567 |
Economist, consultant, and Wall Street Journal contributor Alfred Rappaport provides managers and investors with the practical tools and tests for a corporate strategy that creates shareholder value. The ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. After a decade of downsizings frequently blamed on shareholder value decision making, this book presents a new and indepth assessment of the rationale for shareholder value. Further, Rappaport presents provocative new insights on shareholder value applications to: (1) business planning, (2) performance evaluation, (3) executive compensation, (4) mergers and acquisitions, (5) interpreting stock market signals, and (6) organizational implementation. Readers will be particularly interested in Rappaport's answers to three management performance evaluation questions: (1) What is the most appropriate measure of performance? (2) What is the most appropriate target level of performance? and (3) How should rewards be linked to performance? Through the lens of high-stakes case studies, like the notable acquisition of Duracell International by Gillette, Rappaport dissects the intricate decisions and risks inherent in the merger and acquisition process. The shareholder value approach presented here has been widely embraced by publicly traded as well as privately held companies worldwide. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy.
| Author | : Raymond J. Trotta |
| Publisher | : AMACOM Div American Mgmt Assn |
| Total Pages | : 294 |
| Release | : 2003-09-19 |
| Genre | : Business & Economics |
| ISBN | : 9780814429334 |
Too often there are serious missed signals between a company’s stated goals and the methods employed to try to reach them. Translating Strategy into Shareholder Value is a unique look at how the planning process relates to the achievement of shareholder value, and ways to ensure that the two directly complement each other. Using tools and a special case study to analyze past, present, and future performance, the book takes readers through a host of steps, including: * Comparing existing strategy to the competition and the economy as a whole * Analyzing productive capabilities and costs * Bringing nonfinancial metrics to test how future strategy creates value * Selecting the right analytical tool and looking at strategic solutions If corporations are to truly maximize their success, managers need to understand how to translate corporate strategy to the bottom line -- and that means seeing the big picture.
| Author | : Erich A. Helfert |
| Publisher | : McGraw-Hill/Irwin |
| Total Pages | : 586 |
| Release | : 2000 |
| Genre | : Cash flow |
| ISBN | : |
This best-selling practical guide for managers and students of business emphasizes the financial concepts and tools that are essential for making sound business decisions in order to create shareholder value. The book's major appeal for over 35 years, with 500,000 copies in print in 9 languages, has been its direct, concise, no-nonsense approach. The 10th (millennium) edition maintains the unique perspective that any business can be viewed as a dynamic, integrated system of cash flows, which are activated by management decisions. The new edition is integrated with an advanced financial analysis and planning application, Financial Genome, which is available from www.modernsoft.com, together with free templates illustrating the key concepts and diagrams of the book.Check out Financial Genome at http: //www.modernsoft.com
| Author | : Raymond L. Manganelli |
| Publisher | : AMACOM/American Management Association |
| Total Pages | : 268 |
| Release | : 2003 |
| Genre | : Business & Economics |
| ISBN | : 9780814413142 |
"Why is it that the average business captures less than 20 percent of its potential? Why is this underperformance so pervasive, and what's keeping these organizations from truly maximizing their shareholder value? Based on extensive research and featuring case studies, tools, and practical techniques, this practical handbook explains how all strategic decisions must be considered from four closely integrated perspectives: that of the business model, the company's portfolio of holdings, its financial structure, and the efficiency and efficacy of its management and operations. The book presents a step-by-step methodology for implementing a Value Structure System, enabling readers to identify, create, and capture the maximum value of their company by synchronizing the different essential components. Readers will learn how to: * Use a single value measure throughout all decision making * Immediately execute their own Value Structure Optimization (VSO) program * Perform diagnostic exercises quantifying risk, and prepare immediate action plans"
| Author | : John D. Martin |
| Publisher | : Oxford University Press |
| Total Pages | : 208 |
| Release | : 2009-08-19 |
| Genre | : Business & Economics |
| ISBN | : 0190450851 |
As the first decade of the 21st century winds down we have seen a sea change in society's attitudes toward finance. The 1990s can best be described as the decade of shareholder supremacy, with each firm trying to outdo the other in their allegiance to shareholder value creation, or as it came to be known, Value-Based Management (VBM). No one seemed to question this culture as the rising firm valuations translated into vast wealth creation for so many. Three significant economic events have reshaped how the public feels about an unbridled devotion to VBM and have defined the last decade: the dot.com bubble in 2000, the infamous accounting scandals of 2001, and the collapse of the credit markets in 2007-2008. In all three of these events the CEOs were portrayed as reckless and greedy and Wall Street went from an object of admiration to an object of scorn. The first edition of this book, Value Based Management: The Corporate Response to the Shareholder Revolution was written to help explain the underpinnings of Value-Based Management. At the time of its publication, few questioned whether the concept was the proper thing to do. Instead, the debate was focused on how to implement a VBM program. With this new second edition, the authors look at VBM after having seen it through good times and bad. It is not their intent to play the blame game or point fingers. Nor is it their intent to provide an impassioned defense of VBM. Instead they provide an academic appraisal of VBM, where is has been, where it is now, and where they see it going.
| Author | : Shannon P. Pratt |
| Publisher | : John Wiley & Sons |
| Total Pages | : 1344 |
| Release | : 2014-03-12 |
| Genre | : Business & Economics |
| ISBN | : 1118852826 |
A one-stop shop for background and current thinking on the development and uses of rates of return on capital Completely revised for this highly anticipated fifth edition, Cost of Capital contains expanded materials on estimating the basic building blocks of the cost of equity capital, the risk-free rate, and equity risk premium. There is also discussion of the volatility created by the financial crisis in 2008, the subsequent recession and uncertain recovery, and how those events have fundamentally changed how we need to interpret the inputs to the models we use to develop these estimates. The book includes new case studies providing comprehensive discussion of cost of capital estimates for valuing a business and damages calculations for small and medium-sized businesses, cross-referenced to the chapters covering the theory and data. Addresses equity risk premium and the risk-free rate, including the impact of Federal Reserve actions Explores how to use Morningstar's Ibbotson and Duff Phelps Risk Premium Report data Discusses the global cost of capital estimation, including a new size study of European countries Cost of Capital, Fifth Edition puts an emphasis on practical application. To that end, this updated edition provides readers with exclusive access to a companion website filled with supplementary materials, allowing you to continue to learn in a hands-on fashion long after closing the book.
