Each manual includes valuable decision-support software.
Book Description
Editorial Reviews
About the Author
Dr. Hazel J. Johnson is Distinguished University Scholar at the University of Louisville and Professor of Finance (USA). Dr. Johnson was formerly a member of the finance faculty of Georgetown University (Washington, DC, USA).
She has authored more than 20 books in the areas of international finance and financial institutions. With publications in the USA, Europe, Latin America, and Asia, Dr. Johnson's work has been translated into Japanese and Spanish.
In addition, she has developed software systems for business practitioners in the areas of bank valuation, capital budgeting, cost of capital, and mergers and acquisitions.
Dr. Johnson has acted as a consultant to more than 50 major US financial institutions and a number of state and federal agencies.
Excerpt. © Reprinted by permission. All rights reserved.
Foreword
Capital budgeting decisions involve the largest tangible investments of any firm. These decisions directly impact the value of shareholder wealth and the future viability of the firm.
Making Capital Budgeting Decisions: Maximizing the Value of the Firm helps corporate managers identify relevant cash flows and measure the value of prospective capital investments. This book provides a comprehensive array of analytical tools for project evaluation payback period (a period of time), internal rate of return (a percentage), net present value (a dollar amount), and profitability index (a ratio). The techniques are compared both pros and cons. Numerous illustrations help managers construct direct applications of the tools.
The accompanying Capital Budgeting Software System helps managers make the transition from concept to practice fast and easy. The Excel 7.0 based system provides a framework in which to analyze capital asset investment decisions for a project with an anticipated life of up to 40 years. Schedules detail the initial investment, any existing property that will be sold in a replacement decision, required net working capital changes, operational cash flows, and depreciation tax benefits. Cash flows are automatically analyzed and the results include internal rate of return, net present value, and profitability index.
Making Capital Budgeting Decisions: Maximizing the Value of the Firm answers three critical questions: How do capital budgeting decisions help managers maximize the value of the firm? How can the firm avoid paying too much for capital projects? How can the firm implement the capital budgeting concepts in the book easily?
The book and the software are engineered to provide in-depth and user-friendly support in one of the most critical areas of management decision making.
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