theory relevant to making operating and investment decisions. The course also introduces some of the core financial management and decision making techniques used in the business world. Course Intended Learning Outcomes (CILOs) Upon successful completion of this course, students should be able to: 1. Describe the financial environment, agency costs, the goals of the participants, and the basic structure of Hong Kong financial and banking systems 2. Explain working capital policies and apply
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theory relevant to making operating and investment decisions. The course also introduces some of the core financial management and decision making techniques used in the business world. Course Intended Learning Outcomes (CILOs) Upon successful completion of this course, students should be able to: 1. Describe the financial environment, agency costs, the goals of the participants, and the basic structure of Hong Kong financial and banking systems 2. Explain working capital policies and apply
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Marketing cost is assumed to be a sunk cost and therefore not included in the calculation • Cash flow will be considered over 5 years as this is the lifecycle of the product • An annual licence fee included at 1M per annum • Capital investment for vehicles £650k is an upfront payment and therefore not discounted • Year 5 will see a cash inflow of 120K assumed a realistic sum for the sale of the vehicles • Assume no tax implications for this project • Opportunity
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Bureau of Economic Research, Cambridge, MA 02912, USA (Received 2 August 1999; final version received 10 December 1999) Abstract We survey 392 CFOs about the cost of capital, capital budgeting, and capital structure. Large firms rely heavily on present value techniques and the capital asset pricing model, while small firms are relatively likely to use the payback criterion. A surprising number of firms use firm risk rather than project risk in evaluating new investments. Firms
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JBR-06929; No of Pages 8 ARTICLE IN PRESS Journal of Business Research xxx (2009) xxx–xxx Contents lists available at ScienceDirect Journal of Business Research Does management accounting play role in planning process? Fabio Frezatti a,⁎, Andson B. Aguiar a,b,1, Reinaldo Guerreiro a,2, Maria A. Gouvea a,2 a University of Sao Paulo, School of Economics, Business Administration, and Accounting, Av. Prof. Luciano Gualberto 908, FEA3, Cidade Universitária, São Paulo City, 05508-900, State
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FINANCE HONOURS 2011-2012 Topic: Behavioural corporate finance Lecturer: Yue (Lucy) Liu E-mail: Yue.Liu@ed.ac.uk Outline Psychological phenomena Biases Heuristics Framing effects Impact on corporate finance Valuation Capital Budgeting Capital structure Dividend policy Mergers and acquisitions Yue (Lucy) Liu 2011/2012 Corporate Finance 2 Psychological phenomena Bias Excessive optimism Overconfidence Confirmation bias Illusion of control Heuristics Representativeness
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of Wollongong Year Computing the divisional cost of capital using the pure play method H. W. Collier∗ S. Haslitt‡ T. Grai† C. B. McGowan∗∗ of Wollongong, collier@uow.edu.au University, USA ‡ Oakland University, USA ∗∗ Norfolk State University, USA † Oakland ∗ University This is a preprint of an article accepted for publication as Collier, HW, Grai, T, Haslitt, S and McGowan, CB, Computing the divisional cost of capital using the pure play method, Applied Financial Economics Journal
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project finance for Midland Energy Resources must determine the weighted average cost of capital (WACC) for the company as a whole and each of its divisions as part of the annual capital budgeting process. As each division has different functions and risk associations, the company needs separate discount rate to evaluate its projects. This report is prepared to find out the realistic measures for assessing cost of capital for Midland Energy Resources. After careful evaluation of available information and
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finance for Midland Energy Resources must determine the weighted average cost of capital (WACC) for the company as a whole and each of its divisions as part of the annual capital budgeting process. As each division has different functions and risk associations, the company needs separate discount rate to evaluate its projects. This report is prepared to find out the realistic measures for assessing cost of capital for Midland Energy Resources. After careful evaluation of available information and
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level, finance is the study of financial institution and financial markets and how they operate within the financial systems in both the domestic and global economics. Scholar’s view: “Finance consists of providing and utilizing the money, capital rights, credit and funds of any kind which are employed in the operation of an enterprise.” _George R Terry “Finance is concerned with the process
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