Investment Decision Making Using Optional Models
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Investment Decision Making Using Optional Models
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Author : David Heller
language : en
Publisher: John Wiley & Sons
Release Date : 2020-02-26
Investment Decision Making Using Optional Models written by David Heller and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-26 with Business & Economics categories.
In order to create value, companies must allocate their resources effectively and evaluate investment alternatives. This book examines, from a theoretical and empirical point of view, how managerial flexibility can be integrated into investment decisions through the optional approach. Unlike the traditional net present value method, the actual options take into account indeterminate elements. These lead to unpredictable cash flows at the time of the investment decision, especially in the context of complex and risky projects. The book puts into perspective the use of optional models and their interactions. The different categories of options are the subject of practical applications, through analysis of investment decisions where uncertainty is growing. Therefore, studies make it possible to consider the flexible nature of investment choices by integrating new information and risk over time.
Investment Decisions And The Logic Of Valuation
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Author : Carlo Alberto Magni
language : en
Publisher: Springer Nature
Release Date : 2020-02-11
Investment Decisions And The Logic Of Valuation written by Carlo Alberto Magni and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-11 with Business & Economics categories.
This book presents a new approach to the valuation of capital asset investments and investment decision-making. Starting from simple premises and working logically through three basic elements (capital, income, and cash flow), it guides readers on an interdisciplinary journey through the subtleties of accounting and finance, explaining how to correctly measure a project’s economic profitability and efficiency, how to assess the impact of investment policy and financing policy on shareholder value creation, and how to design reliable, transparent, and logically consistent financial models. The book adopts an innovative pedagogical approach, based on a newly developed accounting-and-finance-engineering system, to help readers gain a deeper understanding of the accounting and financial magnitudes, learn about new analytical tools, and develop the necessary skills to practically implement them. This diverse approach to capital budgeting allows a sophisticated economic analysis in both absolute terms (values) and relative terms (rates of return), and is applicable to a wide range of economic entities, including real assets and financial assets, engineering designs and manufacturing schemes, corporate-financed and project-financed transactions, privately-owned projects and public investments, individual projects and firms. As such, this book is a valuable resource for a broad audience, including scholars and researchers, industry practitioners, executives, and managers, as well as students of corporate finance, managerial finance, engineering economics, financial management, management accounting, operations research, and financial mathematics. It features more than 180 guided examples, 50 charts and figures and over 160 explanatory tables that help readers grasp the new concepts and tools. Each chapter starts with an abstract and a list of the skills readers can expect to gain, and concludes with a list of key points summarizing the content.
What Is So Real About Real Options And Why Are They Optional
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Author : Johnathan Mun
language : en
Publisher: John Wiley and Sons
Release Date : 2011-09-14
What Is So Real About Real Options And Why Are They Optional written by Johnathan Mun and has been published by John Wiley and Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-14 with Business & Economics categories.
In the past, corporate investment decisions were cut and dried. Buy a new machine that is more efficient, make more products costing a certain amount, and if the benefits outweigh the costs, execute the investment. Hire a larger pool of sales associates, expand the current geographical area, and if the marginal increase in forecast sales revenues exceeds the additional salary and implementation costs, start hiring. Need a new manufacturing plant? Show that the construction costs can be recouped quickly and easily by the increase in revenues the plant will generate through new and improved products, and the initiative is approved. However, real-life business conditions are a lot more complicated. Your firm decides to go with an e-commerce strategy, but multiple strategic paths exist. Which path do you choose? What are the options you have? If you choose the wrong path, how do you get back on the right track? How do you value and prioritize the paths that exist? You are a venture capitalist firm with multiple business plans to consider. How do you value a start-up firm with no proven track record? How do you structure a mutually beneficial investment deal? What is the optimal timing to a second or third round of financing? This chapter provides a novel approach to applying real options to answering these issues and more.
Investment Appraisal
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Author : Uwe Götze
language : en
Publisher: Springer
Release Date : 2015-03-18
Investment Appraisal written by Uwe Götze and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-18 with Business & Economics categories.
This book provides an introduction to investment appraisal and presents a range of methods and models, some of which are not widely known, or at least not well covered by other textbooks. Each approach is thoroughly described, evaluated and illustrated using examples, with its assumptions and limitations analyzed in terms of their implications for investment decision-making practice. Investment decisions are of vital importance to all companies. Getting these decisions right is crucial but, due to a complex and dynamic business environment, this remains a challenging management task. Effective appraisal methods are valuable tools in supporting investment decision-making. As organisations continue to seek a competitive edge, it is increasingly important that management accountants and strategic decision-makers have a sound knowledge of these tools.
Stochastic Dominance
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Author : Haim Levy
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-08-25
Stochastic Dominance written by Haim Levy and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-08-25 with Business & Economics categories.
This book is devoted to investment decision-making under uncertainty. The book covers three basic approaches to this process: the stochastic dominance approach; the mean-variance approach; and the non-expected utility approach, focusing on prospect theory and its modified version, cumulative prospect theory. Each approach is discussed and compared. In addition, this volume examines cases in which stochastic dominance rules coincide with the mean-variance rule and considers how contradictions between these two approaches may occur.
Investment Portfolio Decision Making
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Author : James L. Bickler (compiler)
language : en
Publisher:
Release Date : 1974
Investment Portfolio Decision Making written by James L. Bickler (compiler) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with Decision-making categories.
Behavioral Finance And Decision Theory In Investment Management
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Author : Arnold S. Wood
language : en
Publisher:
Release Date : 1995
Behavioral Finance And Decision Theory In Investment Management written by Arnold S. Wood and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.
Applied Investment Theory
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Author : Les Coleman
language : en
Publisher: Palgrave Macmillan
Release Date : 2017-04-15
Applied Investment Theory written by Les Coleman and has been published by Palgrave Macmillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-15 with Business & Economics categories.
Institutions now dominate trading in equities around the world. Mutual funds are the most prominent, and doubly important as custodians of retirement savings. Despite this, there is no comprehensive description of fund manager behaviour, much less a matching theory. This is troubling because one of the most economically significant puzzles in finance is why experienced, well-resourced fund managers cannot outperform the market. Applied Investment Theory: How Equity Markets Behave, and Why brings together academic research, empirical evidence and real market experience to provide new insights into equity markets and their behaviours. The book draws upon the author’s rich industry experience and academic research, plus over 40 interviews with fund managers on three continents and across different markets. The result is an innovative model that explains the puzzle of poor performance by mutual funds in terms of structural features of markets, the managed investment industry, and the conduct of fund managers. This book provides a fully integrated depiction of what markets and investors do, and why – insights that will resonate with the needs of investors, wealth managers and industry regulators. It is fully documented, but free of jargon and arcane math, and provides a grounded theory that is relevant to anyone who wants to pierce the opacity of mutual fund operations. Applied Investment Theory sets out a new paradigm in investment that is at the forefront of what should be an industrial-scale development of new finance theory following two decades of almost back-to-back financial crises.
Quantitative Methods For Portfolio Analysis
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Author : T. Kariya
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Quantitative Methods For Portfolio Analysis written by T. Kariya and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Quantitative Methods for Portfolio Analysis provides practical models and methods for the quantitative analysis of financial asset prices, construction of various portfolios, and computer-assisted trading systems. In particular, this book is required reading for: (1) `Quants' (quantitatively-inclined analysts) in financial industries; (2) financial engineers in investment banks, securities companies, derivative-trading companies, software houses, etc., who are developing portfolio trading systems; (3) graduate students and specialists in the areas of finance, business, economics, statistics, financial engineering; and (4) investors who are interested in Japanese financial markets. Throughout the book the emphasis is placed on the originality and usefulness of models and methods for the construction of portfolios and investment decision making, and examples are provided to demonstrate, with practical analysis, models for Japanese financial markets.
The Empowered Investor
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Author : C. Puempin
language : en
Publisher: Springer
Release Date : 2015-12-11
The Empowered Investor written by C. Puempin and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-11 with Business & Economics categories.
Take control of your investment decisions The investment industry is in a state of inertia. Recent events highlight an overreliance on mathematical foundations and flawed investment models. Investors need to find new paths to effective wealth creation. The Empowered Investor provides a proven framework for wealth creation. Built around 7 key principles and practical real-world examples, the book provides insight into the limitations of traditional investment concepts, and illustrates how investors can take control of their investments. Instead of relying on often flawed financial advice, investors need to develop their own investment approach, drawing on their unique skill sets and experiences. This book: -Presents a practical strategy for wealth creation, based on practical experience and sound theoretical foundation; -Provides real world cases and excerpts from interviews with highly successful investors; -Demonstrates how investors can build on their core strengths, exploit opportunities and differentiate their investments; -Illustrates how to protect a portfolio from threats and risks This book will help you: -Build on your core strengths; -Identify and make the most of new opportunities; -Cultivate quality networks; -Differentiate your investments; -Protect yourself against threats and risks; -Understand and manage the time dimension; -Execute with efficiency. Written in a practical and straightforward manner, The Empowered Investor provides a robust strategic toolkit for investors, bringing the individual to the core of the investment strategy and creating new opportunities for wealth creation.