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The Search for Value: Measuring the Company s Cost of Capital
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In The Search for Value: Measuring the Company s Cost of Capital, Michael C. Ehrhardt analyzes the latest prescriptive techniques and models for determining the cost of capital. He provides a comprehensive framework for practitioners by detailing the various methods for accurately evaluating investment in projects, divisions, or entire companies. He begins with a general discussion of the cost of capital within the context of a firm s overall search for value and continues on to cover such topics as discounted cash flow analysis, flotation costs, longterm projects, and international projects, as well as situations in which traditional cash flow analysis may not apply, such as regulated companies. Ehrhardt moves easily through a variety of technical concepts, providing numerous stepbystep examples to explain how theoretical constructs can be applied to daily financial decisions. He also provides a particularly detailed analysis of estimating capital costs in multidivisional, multiproduct, and multinational firms. Each chapter features an extensive bibliography for further reading. Written for financial directors, planners, managers, and analysts as well as for those who study finance issues, this work successfully addresses the concerns of financial practitioners. In today s competitive business environment, the consequences of miscalculation can be devastating. Correctly evaluating the cost of capital and thereby determining the valuecreating potential of investments is a business imperative. The Search for Value is a unique synthesis of the issues surrounding the cost of capital, presenting the most comprehensive treatment of the topic to date. Those who implement the ideas in this book will enjoy the returns made possible by accurate measurements of the cost of capital as an integral part of capital budgeting and strategic planning.
⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.
- Q: What are the dimensions of the book? A: The book measures six inches in length, one inch in width, and nine and a half inches in height.
- Q: How many pages does this book have? A: This book contains two hundred thirty-two pages, providing a comprehensive analysis of capital measurement.
- Q: What type of binding does this book have? A: The book is bound in hardcover, ensuring durability and longevity for readers.
- Q: Who is the author of this book? A: The author is Michael C. Ehrhardt, a recognized expert in finance and capital valuation.
- Q: Is this book suitable for beginners in finance? A: Yes, this book is suitable for both beginners and experienced professionals, offering clear explanations and examples.
- Q: What topics are covered in the book? A: The book covers topics like discounted cash flow analysis, flotation costs, and capital costs estimation.
- Q: How should I care for this book? A: To keep this book in good condition, store it upright and avoid exposure to direct sunlight or moisture.
- Q: Is this book considered a used item? A: Yes, this book is labeled as a used item but is in good condition for reading.
- Q: Can I return the book if it arrives damaged? A: Yes, you can return the book if it arrives damaged, following the seller's return policy.
- Q: What if I don't understand a concept in the book? A: You can refer to the extensive bibliography for further reading or consult additional finance resources.
- Q: Does this book include step-by-step examples? A: Yes, each chapter includes numerous step-by-step examples to illustrate theoretical constructs.
- Q: Is this book focused on U.S. practices? A: No, it also discusses international projects and considerations applicable to global finance.
- Q: Does the book provide a glossary of terms? A: While it does not have a dedicated glossary, key terms are explained throughout the chapters.
- Q: What audience is this book intended for? A: The book is intended for financial directors, planners, managers, analysts, and finance students.
- Q: Is this book recommended for strategic planning? A: Yes, the book discusses capital budgeting and strategic planning, making it a valuable resource.
- Q: What genre does this book fall under? A: This book falls under the genre of finance and valuation, focusing on measuring the cost of capital.