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Corporate Finance Download free books at
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Download free ebooks at bookboon.com Corporate Finance
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Download free ebooks at bookboon.com Corporate Finance © 2008 Ventus Publishing ApS ISBN 978-87-7681-273-7
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Download free ebooks at bookboon.com Corporate Finance 4 Contents Contents 1. Introduction 2. The objective of the firm 3. Present value and opportunity cost of capital 3.1 Compounded versus simple interest 3.2 Present value 3.3 Future value 3.4 Principle of value additivity 3.5 Net present value 3.6 Perpetuities and annuities 3.7 Nominal and real rates of interest 3.8 Valuing bonds using present value formulas 3.9 Valuing stocks using present value formulas 4. The net present value investment rule 5. Risk, return and opportunity cost of capital 5.1 Risk and risk premia 5.2 The effect of diversification on risk 5.3 Measuring market risk 5.4 Portfolio risk and return 5.4.1 Portfolio variance 5.4.2 Portfolio’s market risk 8 9 10 10 10 12 12 13 13 16 17 21 24 27 27 29 31 33 34 35 Stand out from the crowd Designed for graduates with less than one year of full-time postgraduate work experience, London Business School’s Masters in Management will expand your thinking and provide you with the foundations for a successful career in business. The programme is developed in consultation with recruiters to provide you with the key skills that top employers demand. Through 11 months of full-time study, you will gain the business knowledge and capabilities to increase your career choices and stand out from the crowd. Applications are now open for entry in September 2011. For more information visit www.london.edu/mim/ email [email protected] or call +44 (0)20 7000 7573 Masters in Management London Business School Regent’s Park London NW1 4SA United Kingdom Tel +44 (0)20 7000 7573 Email [email protected] www.london.edu/mim/ Fast-track your career Please click the advert
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Download free ebooks at bookboon.com Corporate Finance 5 5.5 Portfolio theory 5.6 Capital assets pricing model (CAPM) 5.7 Alternative asset pricing models 5.7.1 Arbitrage pricing theory 5.7.2 Consumption beta 5.7.3 Three-Factor Model 6. Capital budgeting 6.1 Cost of capital with preferred stocks 6.2 Cost of capital for new projects 6.3 Alternative methods to adjust for risk 6.4 Capital budgeting in practise 6.4.1 What to discount? 6.4.2 Calculating free cash flows 6.4.3 Valuing businesses 6.5 Why projects have positive NPV 7. Market efficiency 7.1 Tests of the efficient market hypothesis 7.1.1 Weak form 7.1.2 Semi-strong form 7.1.3 Strong form 7.1.4 Classical stock market anomalies 7.2 Behavioural finance Indholdsfortegnelse 36 38 40 40 41 41 42 43 44 44 44 45 45 45 48 49 50 50 51 53 54 54 © UBS 2010. All rights reserved. www.ubs.com/graduates Looking for a career where your ideas could really make a difference? UBS’s Graduate Programme and internships are a chance for you to experience for yourself what it’s like to be part of a global team that rewards your input and believes in succeeding together.
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