UNIVERSITY OF SOUTHERN CALIFORNIA Marshall School of Business Fall 2011 Financial Analysis and Valuation FBE 529 Monday, Wednesday Class Instructor: Lloyd Levitin Time and Place: 3:30 – 4:50 P.M.; JKP 212 Office: Accounting 301E Office Hours: M, W: 2:15-3:15 P.M.; T: 5-6 P.M., and by appointment Office Phone (USC): 213-740-6524 Office Phone (Home): 310-858-0260 Email Address: levitin@marshall.usc.edu (preferred method of communication; please
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Midland Energy Resources, Inc.: Cost of Capital Case Objectives This case gives you a chance to apply our ideas about cost of capital (WACC) to a real firm with separate divisions. Assignment You are a team of Finance Professionals with experience in analyzing the cost of capital for divisions of companies and companies overall. Janet Mortensen has been struggling with her calculations, wondering if her application is correct given the amount of grumbling she has heard. She has asked
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BUNGE LTD. Analysis Team Shelby Bentley Nicolas King Jon Murphy Colby Norris Georgia Sanchez shelby.bently@ttu.edu nick.king@ttu.edu jon.murphy@ttu.edu colby.norris@ttu.edu georgia.sanchez@ttu.edu 1 Table of Contents Executive Summary ………………………………………………………………………..8 Company Overview ……………………………………………………………………….14 Industry Overview …………………………………………………………….............15 Five Forces Model …………………………………………………………………………16 Rivalry among Existing Firms ………………………………………………..18 Industry Growth
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财务管理案例一翻译稿 Midland Energy Resources, Inc.: Cost of Capital 2007年1月下旬，负责Midland能源项目融资的高级副总裁，Mortensen，正在编制Midland及其三个主要业务部门的年度资金成本估算报告。Midland是一个全球性的能源公司，其主要业务为石油和天然气勘探生产（E＆P），炼油与销售（R＆M），以及石化业务。综合起来看，该公司2006年营业额和营业收益分别为248.5亿美元和42.2亿美元。 在Midland内部，很多的分析需要用到资金成本估评，包括：资本预算和财务核算，绩效评估，M&A 提案，以及股票回购的决定。这些分析有些是在部门或业务单位层面来完成的，有些是在公司层面来完成的。早在20世纪80年代初，Midland的企业财务人员就已经开始为公司以及各部门编制年度资金成本估算。然而，由财务人员编制的估算却常受到批评，公司的各部门领导有时会对特定的假设以及使用的数据提出质疑。 2002年，Mortensen，一位直接受命于CFO的资深分析师，被指派去完成Midland公司股票回购资金成
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FINA 6092 Advanced Financial Management 2014-15 Term 1 Case questions Case #A: Butler Lumber Company Questions 1. Why does Mr. Butler have to borrow so much money to support this profitable business? 2. Do you agree with his estimate of the company’s loan requirements? How much will he need to borrow to finance his expected expansion in sales (assume a 1991 sales volume of $3.6 million)? 3. As Mr. Butler’s financial advisor, would you urge him to go ahead with, or to reconsider, his anticipated
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11 March 2011 Food Producers Palm Oil – Extracting Value Rachel Galvez +44 20 7444 0679 rachel.galvez@religarecm.com Palm Tree Nursery Palm Oil Sector – Extracting Value We launch coverage on the London listed Palm Oil sector with a positive view as we believe the industry will continue to grow and current production will struggle to meet global demand. In our view, companies (such as the ones under our coverage) that have; agricultural land rights in equatorial regions (where oil palms
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Chapter 2: Real Options Chapter Introduction and Objectives: Managers often overrule NPV based recommendations in capital budgeting on strategic grounds. Does it mean that the NPV approach is flawed? The standard DCF methodology assumes that managers make an investment decision and then see how the market evolves. In many situations managers can wait and then make a decision. The latter is an option - an option to defer or time the investment decision. Pharmaceutical companies, for example
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Mergers, Acquisitions and Corporate Restructuring II MERGERS, ACQUISITIONS AND CORPORATE RESTRUCTURING Mergers, Acquisitions and Corporate Restructuring Edited by Chandrashekar Krishnamurti Vishwanath S.R. Copyright © Chandrashekar Krishnamurti and Vishwanath S.R., 2008 All rights reserved. No part of this book may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage or retrieval
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Business Plans Handbook Business Plans A COMPILATION OF BUSINESS PLANS DEVELOPED BY INDIVIDUALS NORTH THROUGHOUT AMERICA Handbook VOLUME 16 Lynn M. Pearce, Project Editor Business Plans Handbook, Volume 16 Project Editor: Lynn M. Pearce Product Manager: Jenai Drouillard Product Design: Jennifer Wahi Composition and Electronic Prepress: Evi Seoud Manufacturing: Rita Wimberley Editorial: Erin Braun ª 2010 Gale, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by
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Project Financing Asset-Based Financial Engineering Second Edition JOHN D. FINNERTY, Ph.D. John Wiley & Sons, Inc. Project Financing Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and Asia, Wiley is globally committed to developing and marketing print and electronic products and services for our customers’ professional and personal knowledge and understanding. The Wiley Finance
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