Capital Budgeting. Theory and Practice

A comprehensive guide to making better capital structure and corporate financing decisions in today's dynamic business environment Given the dramatic changes that have recently occurred in the economy, the topic of capital structure and corporate financing decisions is critically important. The fact is that firms need to constantly revisit their portfolio of debt, equity, and hybrid securities to finance assets, operations, and future growth. Capital Structure and Corporate Financing Decisions provides an in-depth examination of critical capital structure topics, including discussions of basic capital structure components, key theories and practices, and practical application in an increasingly complex corporate world. Throughout, the book emphasizes how a sound capital structure simultaneously minimizes the firm's cost of capital and maximizes the value to shareholders. Offers a strategic focus that allows you to understand how financing decisions relates to a firm's overall corporate policy Consists of contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Contains information from survey research describing actual financial practices of firms This valuable resource takes a practical approach to capital structure by discussing why various theories make sense and how firms use them to solve problems and create wealth. In the wake of the recent financial crisis, the insights found here are essential to excelling in today's volatile business environment.

Merging theory and practice into a comprehensive, highly-anticipated text Corporate Finance continues its legacy as one of the most popular financial textbooks, with well-established content from a diverse and highly respected author team. Unique in its features, this valuable text blends theory and practice with a direct, succinct style and commonsense presentation. Readers will be introduced to concepts in a situational framework, followed by a detailed discussion of techniques and tools. This latest edition includes new information on venture finance and debt structuring, and has been updated throughout with the most recent statistical tables. The companion website provides statistics, graphs, charts, articles, computer models, and classroom tools, and the free monthly newsletter keeps readers up to date on the latest happenings in the field. The authors have generously made themselves available for questions, promising an answer in seventy-two hours. Emphasizing how key concepts relate to real-world situations is what makes Corporate Finance a valuable reference with real relevance to the professional and student alike. Readers will gain insight into the methods and tools that shape the industry, allowing them to: Analyze investments with regard to hurdle rates, cash flows, side costs, and more Delve into the financing process and learn the tools and techniques of valuation Understand cash dividends and buybacks, spinoffs, and divestitures Explore the link between valuation and corporate finance As the global economy begins to recover, access to the most current information and statistics will be required. To remain relevant in the evolving financial environment, practitioners will need a deep understanding of the mechanisms at work. Corporate Finance provides the expert guidance and detailed explanations for those requiring a strong foundational knowledge, as well as more advanced corporate finance professionals.

This revised edition of Industrial Relations: Theory and Practice follows the approach established successfully in preceding volumes edited by Paul Edwards. The focus is on Britain after a decade of public policy which has once again altered the terrain on which employment relations develop. Government has attempted to balance flexibility with fairness, preserving light-touch regulation whilst introducing rights to minimum wages and to employee representation in the workplace. Yet this is an open economy, conditioned significantly by developing patterns of international trade and by European Union policy initiatives. This interaction of domestic and cross-national influences in analysis of changes in employment relations runs throughout the volume. The structure has been amended slightly. Britain is placed straight away in comparative perspective before attention focuses explicitly on employment relations actors, contexts, processes, and outcomes. Each of the chapters is written by authorities in the field and provides up to date analysis and commentary. A spine of chapters from the preceding volume have been revised and extensively updated and new chapters have been added to refine coverage of issues such as the private sector and developing legal institutions. Overall, a picture emerges of an economy that is in incremental and contested transition. The imperatives of 'globalization' now infuse governance mechanisms that were once responsive principally to domestic agenda and employment standards are set now by the state that once were established through collective bargaining. It is this fragile and emerging model that will be tested significantly through sustained political and economic change. «Completely revised, the latest edition of Industrial Relations provides an invaluable guide to the actors, contexts, processes and significant outcomes within British employment relations. Based on a thorough review of the latest research, it is essential reading for students, academics and those professionally involved in employment relations and human resource management.» —Edmund Heery, Cardiff Business School "This is a terrific collection of insightful analyses of British workplace relations in a global context provided by leading scholars. The chapters creatively utilize a multidisciplinary and critical approach that reveals the continuing and unique value of an industrial relations perspective. The volume cleverly assesses how factors including increased demographic diversity, organizational restructuring, globalization, and the reduced coverage of collective bargaining are affecting the nature and evolution of work and workplace relations. It is a must read. —Harry C. Katz, Cornell University, New York «This volume definitely constitutes the most comprehensive and best collection of empirical as well as analytical essays on industrial relations in Great Britain. This substantially revised, enlarged and updated version of its well known predecessors puts the specific national experience in comparative context and international perspective. A truly interdisciplinary volume by leading authorities, this has to be highly recommended for domestic as well as foreign scholars, practitioners and policy makers.» —Bernt Keller, University of Konstanz, Germany "With working people facing the worst crisis in generations, this book is a much needed reminder of the crucial importance of employment relations research in Britain. The 3rd edition of Industrial Relations, which coincides with the 40th anniversary of the IRRU at Warwick University, provides a completely updated, cutting-edge analysis by leading scholars on work and employment developments in contemporary Britain. It delivers a most informative view of modern employment, its problems and possibiliti

Utilizing a great variety of previously unknown cuneiform tablets, Ancient Babylonian Medicine: Theory and Practice examines the way medicine was practiced by various Babylonian professionals of the 2nd and 1st millennium B.C. Represents the first overview of Babylonian medicine utilizing cuneiform sources, including archives of court letters, medical recipes, and commentaries written by ancient scholars Attempts to reconcile the ways in which medicine and magic were related Assigns authorship to various types of medical literature that were previously considered anonymous Rejects the approach of other scholars that have attempted to apply modern diagnostic methods to ancient illnesses

An insider's view of how to develop and operate an automated proprietary trading network Reflecting author Eugene Durenard's extensive experience in this field, Professional Automated Trading offers valuable insights you won't find anywhere else. It reveals how a series of concepts and techniques coming from current research in artificial life and modern control theory can be applied to the design of effective trading systems that outperform the majority of published trading systems. It also skillfully provides you with essential information on the practical coding and implementation of a scalable systematic trading architecture. Based on years of practical experience in building successful research and infrastructure processes for purpose of trading at several frequencies, this book is designed to be a comprehensive guide for understanding the theory of design and the practice of implementation of an automated systematic trading process at an institutional scale. Discusses several classical strategies and covers the design of efficient simulation engines for back and forward testing Provides insights on effectively implementing a series of distributed processes that should form the core of a robust and fault-tolerant automated systematic trading architecture Addresses trade execution optimization by studying market-pressure models and minimization of costs via applications of execution algorithms Introduces a series of novel concepts from artificial life and modern control theory that enhance robustness of the systematic decision making—focusing on various aspects of adaptation and dynamic optimal model choice Engaging and informative, Proprietary Automated Trading covers the most important aspects of this endeavor and will put you in a better position to excel at it.

The concept of 'person-centredness' has become established in approaches to the delivery of healthcare, particularly with nursing, and is embedded in many international healthcare policy frameworks and strategic plans. This book explores person-centred nursing using a framework that has been derived from research and practice. Person-centred Nursing is a theoretically rigorous and practically applied text that aims to increase nurses' understanding of the principles and practices of person-centred nursing in a multiprofessional context. It advances new understandings of person-centred nursing concepts and theories through the presentation of an inductively derived and tested framework for person-centred nursing. In addition it explores a variety of strategies for developing person-centred nursing and presents case examples of the concept in action. This is a practical resource for all nurses who want to develop person-centred ways of working.

Simulated Patient Methodology is a timely book, aimed at health professional educators and Simulated Patient (SP) practitioners. It connects theory and evidence with practice to ensure maximum benefit for those involved in SP programmes, in order to inform practice and promote innovation. The book provides a unique, contemporary, global overview of SP practice, for all health sciences educators. Simulated Patient Methodology: • Provides a cross-disciplinary overview of the field • Considers practical issues such as recruiting and training simulated patients, and the financial planning of SP programmes • Features case studies, illustrating theory in practice, drawn from across health professions and countries, to ensure relevance to localised contexts Written by world leaders in the field, this invaluable resource summarises the theoretical and practical basis of all human-based simulation methodologies.

A clear and comprehensive guide to financial modeling and valuation with extensive case studies and practice exercises Corporate and Project Finance Modeling takes a clear, coherent approach to a complex and technical topic. Written by a globally-recognized financial and economic consultant, this book provides a thorough explanation of financial modeling and analysis while describing the practical application of newly-developed techniques. Theoretical discussion, case studies and step-by-step guides allow readers to master many difficult modeling problems and also explain how to build highly structured models from the ground up. The companion website includes downloadable examples, templates, and hundreds of exercises that allow readers to immediately apply the complex ideas discussed. Financial valuation is an in-depth process, involving both objective and subjective parameters. Precise modeling is critical, and thorough, accurate analysis is what bridges the gap from model to value. This book allows readers to gain a true mastery of the principles underlying financial modeling and valuation by helping them to: Develop flexible and accurate valuation analysis incorporating cash flow waterfalls, depreciation and retirements, updates for new historic periods, and dynamic presentation of scenario and sensitivity analysis; Build customized spreadsheet functions that solve circular logic arising in project and corporate valuation without cumbersome copy and paste macros; Derive accurate measures of normalized cash flow and implied valuation multiples that account for asset life, changing growth, taxes, varying returns and cost of capital; Incorporate stochastic analysis with alternative time series equations and Monte Carlo simulation without add-ins; Understand valuation effects of debt sizing, sculpting, project funding, re-financing, holding periods and credit enhancements. Corporate and Project Finance Modeling provides comprehensive guidance and extensive explanation, making it essential reading for anyone in the field.

Textbook introducing the fundamentals of aircraft performance using industry standards and examples: bridging the gap between academia and industry Provides an extensive and detailed treatment of all segments of mission profile and overall aircraft performance Considers operating costs, safety, environmental and related systems issues Includes worked examples relating to current aircraft (Learjet 45, Tucano Turboprop Trainer, Advanced Jet Trainer and Airbus A320 types of aircraft) Suitable as a textbook for aircraft performance courses

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.