the basics of finance pamela

... on the trade-offbetween the potential profits and the costs of borrowing • Expectationsabout the future profitability of current investments adjusts the level of investment • Crowding outis the ... on the price they must pay • The interest rateis the price of borrowing money for a specific period of time – It is expressed as a percentage per dollar borrowed per unit of time. The price of ... right to a share of profits in the future. – When you purchase insurance, you pay premiums now in return for the right to submit a claim for compensation in the future. The role of financial markets

Ngày tải lên: 14/10/2020, 14:25

... independent, if the cash flows of one are  unaffected by the acceptance of the other.  mutually exclusive, if the cash flows of one  can be adversely impacted by the  acceptance of the other. Trang ... Reason:  Companies want to avoid the direct costs (i.e., flotation costs) and the indirect costs of issuing new capital  Solution:  Increase the cost of capital by enough to reflect all of these costs, and then accept all projects that still have a positive NPV with the higher cost of  ... budgets as being risky, which drives up the cost of capital (More ) Trang 42  42 If external funds will be raised, then the NPV of all projects should be estimated using this higher marginal cost of  capital Trang

Ngày tải lên: 16/01/2020, 19:33

... internal rate of return of 18 percent, while Project B has an internalrate of return of 30 percent The two projects have the same risk, thesame cost of capital, and the timing of the cash flows ... series of positive cash flows One ofthe projects, however, is much larger than the other If the cost ofcapital is 16 percent, the two projects have the same net present value(NPV); otherwise, their ... beta of 1.6 Assume that the stock market is efficient Which of the following statements is mostcorrect? a The required rates of return of the two stocks should be the same b The expected rates of

Ngày tải lên: 22/11/2016, 11:02

... chemical engineers The first section of the book explains the basic structure of thesoftware and leads the student through a hands-on introduction to the various features of the software designed ... by selectingthe Help button on the main Aspen Plus display The philosophy of the book is based on the idea that once a chemical engineer becomes thoroughly facile in the use of thesoftware and ... 1TEACH YOURSELF THE BASICS OFTrang 2TEACH YOURSELF THE BASICS OFTrang 3Copyright © 2011 by John Wiley & Sons, Inc All rights reserved.A joint publication of the American Institute of Chemical

Ngày tải lên: 01/04/2014, 10:57

... when the company wants toknow if the expected value of the cash flows is greater than the cost of theproject, and whether or not the expected rate of return on the project exceedsthe cost of the ... Project A is the superior project.10-17 Since the IRR is the cost of capital at which the NPV of a projectequals zero, the projects inflows can be evaluated at the IRR and thepresent value of these ... with the number of years the project lasts and theMIRR, to solve for the initial present value of the cash outflows One of these cash outflows occurs in Year 0 and the remaining value must bethe

Ngày tải lên: 01/07/2014, 21:28

... Transportation Professionals The Basics of Telecommunications Final Report September, 2004 Trang 2Notice This document is disseminated under the sponsorship of the Department of Transportation in the interest ... Background 186 The System - Existing 188 The System - New 191 City of Irving Texas 193 Background 193 Proposed Update 194 5.8 GHz Attributes 196 Theory of Operation 197 The Irving Proposal ... to describe t he configuration of a cable The expression is often used in the following manner: “The cable is available in 5000 foot “put -ups ” Trang 27numb ers of fib er st rands wi ll requi

Ngày tải lên: 05/07/2014, 00:21

... unimpeachable refutation of the random walk hypothesis ever! As a trader coming of age in the latter half of the frenetic 1970s and the 1980s, The Alchemy of Finance was somewhat of a revolution- ary ... Foreword I and forecast the dynamic interplay between the participants in the process That is the brilliance of this book It describes the dy- namics of the path between points of extreme valuation ... annual gains of 35 .8% in the last seven years in spite of a setback in the crash of 1987 Quantum Fund has also spawned a number of offspring, some of which are doing even better than the goose

Ngày tải lên: 10/08/2014, 07:21

... fortunes of the companies is left out of account There is a clear parallel with the theory of price where the indifference curve determines the relative amounts consumed, and the possibility that the ... it from their theories We shall make it the focal point of our investigation The Concept of Reflexivity The connection between the participants' thinking and the situa- tion in which they participate ... to its proper order: the uncertainty in the subject matter first, the role of the scientist second The idea that there' is a fundamental difference in the subject matter of the natural sand social

Ngày tải lên: 10/08/2014, 07:21

... dynamism under the impetus of the newly industrialized cmrr- tries and the opening up of China Japan has been the greatest beneficiary of the present state of affairs Its position is almost the mirror ... stimulus of the budget deficit outweighed the drag of the trade deficit Economic activity is, of course, influenced by many other factors To bring them all into the picture would complicate the argument ... endangered is the level 'of economic activity The main threats to the stability of the Imperial Circle come from the trade deficit and the budget deficit The thin pillars of the arrangement are a

Ngày tải lên: 10/08/2014, 07:21

... + 88 Since the Group of Five meeting, there has been a lot of contro- versy between the Treasury and the White House, on the one hand, and the Federal Reserve on the other, some of which has ... ahead What gave me the courage to hold on to my currency posi- tions was the pronounced weakness of the stock market The strength of the dollar depends on the strength of the economy A decline ... exciting times The emergency meeting of the Group of Five finance ministers and heads of central banks at the Plaza Hotel last Sunday constitutes a historic event It marks the official transition

Ngày tải lên: 10/08/2014, 07:21

... benefits of the new golden age are very un- evenly spread It is in the nature of capitalism that the gap be- tween winners and losers is rather wide Large segments of the population, especially in the ... emer- gencies The suspicion of a disagreement between Volcker and Baker further weakens the chances of timely action We are there- fore headed for a period of maximum risk for the banking system ... 30-year bonds, amid concern about the constitutionality of Gramm- Rudman What made the market vulnerable to these developments was the euphoria that prevailed at the time they occurred Unfortu- nately,

Ngày tải lên: 10/08/2014, 07:21

... sour; only the decision to short the yen has saved the day I can apply the profit on the yen either to offset the losses on the other moves or to protect my profits on the DM, but ... emergence of the Imperial Circle; then in the course of the experiment I was surprised by the premature demise of the Golden Age of Capitalism In Phase 2 of the experiment ... few: the steepening of the yield curve; the rise of gold; and the disarray in the Group of Five process. The stock market also shows signs of a major top, although it has not quite reached the

Ngày tải lên: 10/08/2014, 07:21

... hold true of the collapse of the banking system and of the collapse of the dollar, and also of the "bull market of our lifetime," which was to be followed by a crash 1929 style The monetary ... economic theory Moreover, the practic;~ of science differs significantly from its theory and a study of these differ- ences has given rise to further refinements in the theory of science since the ... falls of its own accord That is what happened last October, although the break in the stock mar- ket preceded the decline of the yen It is likely to happen again Since the end of the year, the

Ngày tải lên: 10/08/2014, 07:21

... taken over the role of the United States as the major supplier of capital to the rest of the world and it is only a question of time before the yen takes over as the major reserve currency The transition ... distinguish between the fact of death and the idea of death The fact of death is linked with the fact of life, whereas the idea of death stands in juxtaposition with the idea of consciousness Consciousness ... manipulate the market The two outstanding features of the Crash of 1987, then, are the absence of a second selling climax in New York and the relative stability of Tokyo These two features deserve further

Ngày tải lên: 10/08/2014, 07:21

... severity of the spill The purpose of contingency plans is to coordinate all aspects of the response to an oil spill This includes stopping the flow of oil, containing the oil, and cleaning it up The ... serious As the seriousness of an incident is often not known in the initial phases, one of the first priorities is to determine the magnitude of the spill and its potential impact Alerting the first ... contingency plan for this phase of the operation and the importance of a high level of training in first response Stopping the flow of oil is a priority in the first phase of the operation, although

Ngày tải lên: 11/08/2014, 04:20

... from washing over the top of the boom The term freeboard is also used to refer to the height from the water line to the top of the boom The skirt is the portion of the boom below the floats or flotation ... the amount of flotation and the weight of the boom This means that the float must provide enough buoyancy to balance the weight of the boom with the force exerted by currents and waves, thereby ... by the reserve buoyancy and the flexibility of the boom A boom with good heave response will move with the waves on the surface of the water and not be alternately submerged and thrust out of the

Ngày tải lên: 11/08/2014, 04:20

... including the thickness of the oil being recovered, the extent of weathering and emulsification of the oil, the presence of debris, and weather conditions at the time of recovery ... percentage of oil in the recovered product The higher the value, the less the amount of water and thus the better the skimmers’ performance so the ship can withstand severe weather ... variety of factors including the type of oil spilled, the properties of the oil such as viscosity, the thickness of the slick, sea conditions, wind speed, ambient temper- ature, and the presence of

Ngày tải lên: 11/08/2014, 04:20

... or truck The vacuum pump creates a vacuum in the tank and the oil moves directly through a hose or pipe to the tank from the skimmer or the source of the oil The oil does not go through the pump, ... of hydrocarbon fuels Often the equipment at refineries cannot handle oils with debris, excessive amounts of water, or other contaminants and the cost of pre-treating the oils can far exceed the ... Performance of Pumps The performance of pumps is usually measured in terms of the volume displaced per unit of time at a given viscosity, suction head, and pressure head The suction head is the maximum

Ngày tải lên: 11/08/2014, 04:20

... grand- mothers as the appropriate source for the intervention. The grandmothers who participated in formative research developed the chitterlings cleaning method for their peers. Having the grandmothers ... by offering the audience benefits they want in return for making the desired behavior change. For example, you give them a sense of being cool and accepted by their peers if they give you themselves ... transmission?” The women in the focus groups identified hygiene breaks, either during refrigeration or during the long hours of cleaning the chitterlings, as the likely method of transmission...

Ngày tải lên: 18/02/2014, 02:20

... Global Association of Risk Professionals, Inc. (GARP™) does not endorse, promote, review or warrant the accuracy of the products or services offered by Your Portfolio101 of FRM related information. ... Association of Risk Professionals™, are trademarks owned by the Global Association of Risk Professionals, Inc. CFA Institute does not endorse, promote or warrant the accuracy or quality of Your ... requirements. These requirements are various, but it is usually having a bachelor and few years of professional experience in a finance related field. Once you pass the exams and the other requirements...

Ngày tải lên: 21/02/2014, 22:20