International Capital Budgeting

International Capital Budgeting
Author: Adrian Buckley
Publisher:
Total Pages: 392
Release: 1996
Genre: Business & Economics
ISBN:

An advanced level text which covers the concepts and practice of appraising international capital budgeting decisions; it presents many pioneering ideas for the development of a logical appraisal framework.

Multinational Finance

Multinational Finance
Author: Kirt C. Butler
Publisher: John Wiley & Sons
Total Pages: 580
Release: 2016-04-13
Genre: Business & Economics
ISBN: 111921971X

Deep coverage and rigorous examination of international corporate finance Multinational Finance offers an advanced exploration of international corporate finance concepts and operations. Despite its status as one of the most rigorous texts on the topic, this book remains accessible and readable without sacrificing depth of coverage. Sidebars, key terms, essays, conceptual questions, and problems with solutions help aid in the learning process, while suggested readings and PowerPoint handouts reinforce the material and offer avenues for further exploration. This new sixth edition includes Excel templates that allow students to use real-world tools in a learning environment, and the modular structure facilitates course customization to individual objectives, interests, and preparatory level. The emphasis is on the basics of financial management, but coverage includes unique chapters on treasury management, asset pricing, hedging, options, and portfolio management in addition to traditional finance topics. International finance is a diverse field with myriad specialties and a vast array of possible interests. This book allows students to view the field through the lens of a financial manager with investment or financial options in more than one country to give them a practical feel for real-world application. Understand the nature and operations of international corporate finance Evaluate opportunities, costs, and risks of multinational operations See beyond the numbers and terminology to the general principles at work Learn the markets, currencies, taxation, capital structure, governance, and more Comprehensive, adaptable, and rigorously focused, this book gives students a solid foundation in international corporate finance, as well as a sound understanding of the tools and mechanics of the field. Designed for MBA and advanced undergraduate courses, Multinational Finance provides the deep coverage so essential to a solid education in finance.

Partially Segmented International Capital Markets and International Capital Budgeting

Partially Segmented International Capital Markets and International Capital Budgeting
Author: Ian A. Cooper
Publisher:
Total Pages:
Release: 2006
Genre:
ISBN:

Evidence suggests that interntaional capital markets are neither fully integrated nor completely semented. There is, however, currently no general method available for computing the required return on corporate investments in such capital markets. This paper uses a model of partially integrated international capital markets to derive optimal international capital budgeting rules. We show how capital budgeting rules depend on the level of investor costs to cross-border investment, both directly and also indirectly through the portfolio specialization they induce. We explain how required returns differ for different companies raising capital in such markets and how these costs of capital may be estimated. We also explain how these differences in required return can be consistent with general equilibrium and the effects they have on incentives for foreign direct investment.

Applied International Finance

Applied International Finance
Author: Thomas J. O'Brien
Publisher: Business Expert Press
Total Pages: 183
Release: 2013-11-30
Genre: Business & Economics
ISBN: 1606497359

This text is designed for use in a course in an applied international corporate finance for managers and executives. Instead of the encyclopedic approach, the text focuses on the two main issues of interest to managers who deal with overseas operations. The first main issue is how uncertain foreign exchange (FX) rate changes affect a firm's ongoing cash flows and equity value, and what can be done about that risk. The second main issue is the estimation of the cost of capital for international operations and the evaluation of overseas investment proposals. Numerous examples of real world companies are used.

Capital Budgeting And Investment Analysis

Capital Budgeting And Investment Analysis
Author: Shapiro
Publisher: Pearson Education India
Total Pages: 264
Release: 2008-09
Genre:
ISBN: 9788131719893

Capital Budgeting and Investment Analysis marries theory with practice by providing numerous illustrations of real-world applications. It includes a discussion of capital budgeting's link to the corporation's strategy for creating value as well as addressing the international aspects of capital budgeting. The basic philosophy of this book is to help students develop their critical thinking skills required to assess potential investments. Topics covered include the basics of capital budgeting, the estimation of project cash flows and the project cost of capital, risk analysis in capital budgeting, and corporate strategy and its relationship to the capital-budgeting decision.

Evaluating International Projects

Evaluating International Projects
Author: Donald R. Lessard
Publisher: Createspace Independent Publishing Platform
Total Pages: 56
Release: 2017-08-08
Genre:
ISBN: 9781974353057

The adjusted net present value approach to international capital budgeting has been questioned recently as to its theoretical correctness and ease of applicability. The alternative set forth by critics is a return to the weighted average cost of capital. In this paper we compare these two approaches, show the conceptual superiority of adjusted net present value to weighted average cost of capital (indeed the latter is a restrictive special case of the former), and reaffirm the usefulness of valuation by components in the international corporate setting. In particular, we illustrate its application to projects involving blocked funds, concessional finance, cash flows with differing exposures to nominal and real exchange rate movements, and political risks that depend on project cash flows as well as to sensitivity analysis in general...

Capital Budgeting

Capital Budgeting
Author: Don Dayananda
Publisher: Cambridge University Press
Total Pages: 290
Release: 2002-10-17
Genre: Business & Economics
ISBN: 113943487X

This book explains the financial appraisal of capital budgeting projects. The coverage extends from the development of basic concepts, principles and techniques to the application of them in increasingly complex and real-world situations. Identification and estimation (including forecasting) of cash flows, project appraisal formulae, and the application of net present value (NPV), internal rate of return (IRR) and other project evaluation criteria are illustrated with a variety of calculation examples. Risk analysis is extensively covered by the use of risk adjusted discount rate, certainty equivalent, sensitivity, simulation and Monte Carlo analysis. The NPV and IRR models are further applied to forestry, property and international investments. Resource constraints are introduced to the capital budgeting decisions with a variety of worked examples using linear programming technique. All calculations are extensively supported by Excel workbooks on the Web, and each chapter is well reviewed by end of chapter questions.

Capital Budgeting Valuation

Capital Budgeting Valuation
Author: H. Kent Baker
Publisher: John Wiley & Sons
Total Pages: 533
Release: 2011-06-28
Genre: Business & Economics
ISBN: 0470569506

An essential guide to valuation techniques and financial analysis With the collapse of the economy and financial systems, many institutions are reevaluating what they are willing to spend money on. Project valuation is key to both cost effectiveness measures and shareholder value. The purpose of this book is to provide a comprehensive examination of critical capital budgeting topics. Coverage extends from discussing basic concepts, principles, and techniques to their application to increasingly complex, real-world situations. Throughout, the book emphasizes how financially sound capital budgeting facilitates the process of value creation and discusses why various theories make sense and how firms can use them to solve problems and create wealth. Offers a strategic focus on the application of various techniques and approaches related to a firm's overall strategy Provides coverage of international topics based on the premise that managers should view business from a global perspective Emphasizes the importance of using real options Comprised of contributed chapters from both experienced professionals and academics, Capital Budgeting Valuation offers a variety of perspectives and a rich interplay of ideas related to this important financial discipline.