Firm, Equity Asset, and Fixed Income Securities Valuation: Practical Examples and Case Studies for Accounting and Financial Analyst Students
Moyo, Vusani
- 出版商: Palgrave MacMillan
- 出版日期: 2024-08-13
- 售價: $3,490
- 貴賓價: 9.5 折 $3,316
- 語言: 英文
- 頁數: 530
- 裝訂: Quality Paper - also called trade paper
- ISBN: 3031605292
- ISBN-13: 9783031605291
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商品描述
This textbook begins by introducing the concept of the time value of money and explaining how it is applied in valuation. It then uses practical and easy-to-understand examples to illustrate the application of the time value of money concept in valuing cash flows, annuities, and perpetuities. This is followed by an in-depth discussion of the firm's financing sources and the determination of its cost of capital. The remainder of the textbook discusses the valuation of fixed-income securities, equity assets, and the firm, featuring specific examples and case studies from South Africa, Europe, and the Americas. Equity asset and firm valuation approaches discussed include variants of single and multiple-stage growth dividend discount models, free cash flows, residual income, and multiple valuation approaches. The practical examples and case studies equip students with the tools they need to apply these valuation approaches. Aimed at upper undergraduate and postgraduate accounting and finance students, this textbook discusses in which context each valuation approach is most appropriate. Electronic supplementary materials are available online by chapter.
商品描述(中文翻譯)
本教科書首先介紹了時間價值的概念，並解釋了它在估值中的應用。然後通過實際且易於理解的例子，說明了時間價值概念在估算現金流、年金和永續年金中的應用。接下來深入討論了公司的融資來源和成本資本的確定。教科書的其餘部分討論了固定收益證券、股權資產和公司的估值，並提供了來自南非、歐洲和美洲的具體例子和案例研究。討論的股權資產和公司估值方法包括單一和多階段成長股息折現模型的變體、自由現金流、剩餘收益和多種估值方法。實際例子和案例研究使學生具備應用這些估值方法所需的工具。本教科書針對高年級本科和研究生會計和金融學生，討論了每種估值方法在哪種情境下最適用。每章的電子補充資料可在線上獲得。
作者簡介
Vusani Moyo is an Associate Professor at the University of Venda, South Africa. He holds a PhD in Financial Management Sciences from the University of Pretoria, an MSc in Finance from the University of Leicester School of Management, an MBA in Finance from the University of Manchester Business School, and a BA (Hons) in Accounting and Finance (First Class) from the University of Derby. Vusani is also a Chartered Certified Accountant, a Chartered Management Accountant, and an ICAEW-Chartered Accountant. His current research interests include the capital structure of African financial and non-financial firms, cash flow sensitivity of cash, green banking, green finance, investment cash flow sensitivity of cash, cost of capital, dividend policy, and firm and equity asset valuation.
作者簡介(中文翻譯)
Vusani Moyo是南非文達大學的副教授。他在普利托利亞大學獲得金融管理科學博士學位，並在萊斯特大學管理學院獲得金融碩士學位，曼徹斯特商學院獲得金融工商管理碩士學位，以及德比大學會計與金融學榮譽學士學位（一等榮譽）。Vusani還是一名特許公認會計師、特許管理會計師和英國特許會計師協會特許會計師。他目前的研究興趣包括非洲金融和非金融公司的資本結構、現金流對現金的敏感性、綠色銀行業、綠色金融、投資現金流對現金的敏感性、資本成本、股利政策以及公司和股權資產估值。
