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Capital Budgeting Valuation: Financial Analysis for Today's Investment Projects

ISBN: 978-1-118-04456-8

May 2011

528 pages

Description
An essential guide to valuation techniques and financial analysis

With the collapse of the economy and financial systems, many institutions are reevaluating what they are willing to spend money on. Project valuation is key to both cost effectiveness measures and shareholder value.

The purpose of this book is to provide a comprehensive examination of critical capital budgeting topics. Coverage extends from discussing basic concepts, principles, and techniques to their application to increasingly complex, real-world situations. Throughout, the book emphasizes how financially sound capital budgeting facilitates the process of value creation and discusses why various theories make sense and how firms can use them to solve problems and create wealth.

  • Offers a strategic focus on the application of various techniques and approaches related to a firm's overall strategy
  • Provides coverage of international topics based on the premise that managers should view business from a global perspective
  • Emphasizes the importance of using real options

Comprised of contributed chapters from both experienced professionals and academics, Capital Budgeting Valuation offers a variety of perspectives and a rich interplay of ideas related to this important financial discipline.

About the Author
H. Kent Baker (Washington, D.C.) is a University Professor of Finance at the Kogod School of Business at American University. He served as the Chair of the Department of Finance and Real Estate for eleven years and headed the Finance Center of Excellence for eight years. Before joining the faculty at American University in 1975, he held both faculty and administrative positions at Georgetown University and University of Maryland. He has served on several boards of directors and advisory councils including the Eastern Finance Association and Southern Finance Association. He has been the Dean of the Executive Management Institute of the Uniform and Textile Service Association since 1981. Professor Baker is the author or editor of seven books: (1) Dividends and Dividend Policy (Wiley, May 2009), (2) Understanding Financial Management: A Practical Guide, (3) Business Fundamentals, (4) Financial Management, (5) Financial Markets: Instruments and Concepts, (6) Good Ethics: The Essential Element of a Firm's Success and (7) Improving the Investment Decision Process: Better Use of Economic Inputs in Securities Analysis and Portfolio Management. He has published more than 240 journal articles, monographs, book chapters, and proceedings as well as 350 book reviews and abstracts. Much of his research is empirical and published in high-quality, peer-reviewed journals such as the Journal of Finance, Journal of Financial and Quantitative Analysis, Financial Management, Financial Analysts Journal, Journal of Portfolio Management, Journal of Financial Research, Financial Review, Journal of Business Research, Journal of Business Ethics, and Harvard Business Review.

Philip English (Washington, DC) is an Assistant Professor of Finance and Real Estate at the Kogod School of Business, American University. He currently serves as Director of the Masters of Science in Finance and Masters of Science in Finance and Real Estate. Before pursuing a doctorate, he worked as the primary financial officer and director of product development for Campbell Classics, a Virginia-based manufacturing firm.  Professor English’s research interests focus on the role of the legal environment in emerging markets, corporate governance and mutual fund regulation. He has published in the Journal of Financial Research, Journal of Corporate Finance, and Emerging Market Review.