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This document outlines key concepts from Chapter 5 on risk and return. It discusses measuring risk for single assets using standard deviation and expected return. Risk is defined as the chance of financial loss and is measured based on the variability of returns. Higher risk assets have a greater chance of loss. The chapter will examine risk and return characteristics of individual assets and portfolios, including how international assets impact portfolios. It will also cover the capital asset pricing model.

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Risk and Returns

This chapter discusses the relationship between risk and return for both individual assets and portfolios of assets. It defines risk as the chance of financial loss and explains that higher risk assets generally provide higher expected returns. The chapter covers measuring the expected return, standard deviation, and coefficient of variation of individual assets. It then explains how forming a portfolio of assets can reduce overall risk through diversification. The chapter discusses how the correlation between asset returns impacts the risk reduction from diversification. It also addresses how adding more assets to a portfolio continues to reduce non-market or unique risk.

chap011.ppt

The document summarizes key topics from Chapter 11 of a corporate finance textbook, including measuring market risk using beta, the relationship between risk and return as defined by the Capital Asset Pricing Model (CAPM), and applying the CAPM to determine the appropriate cost of capital for capital budgeting decisions based on a project's individual risk level. Examples are provided to illustrate calculating beta and determining the cost of capital for projects with different risk profiles.

Chap010.ppt

This chapter discusses market risk and its measurement. It provides examples of how major trading losses at banks like Barings and Sumitomo occurred due to poor risk management. It then outlines approaches to measuring market risk exposure, including dollar value exposure, RiskMetrics, historical simulation, and Monte Carlo simulation. Regulators set capital requirements based on measures of market risk to ensure banks hold sufficient capital to cover potential losses.

Ch11 - The Cost of Capital

This document discusses the cost of capital and how firms calculate it. It defines the cost of capital as the rate of return a firm must earn on investments to maintain its stock price. A firm needs to calculate its weighted average cost of capital (WACC) to properly evaluate investment opportunities. The WACC takes into account the different costs of a firm's sources of capital, such as debt and equity, weighted by their proportions in the firm's target capital structure. The document outlines how to calculate the costs of different sources of capital and how to determine the WACC.

Cha 4

This chapter discusses factors that cause interest rates to change, including:
1. Supply and demand in the bond market, where the demand curve can shift due to changes in wealth, expected returns, risk, and liquidity. The supply curve can shift due to expected profitability, inflation, and government activities.
2. When the demand or supply curves shift, they cause interest rates to change to reach a new equilibrium. For example, higher expected returns will shift demand out and increase rates, while higher expected inflation will shift supply out and increase rates.
3. The chapter provides examples to illustrate concepts like expected return, risk measured by standard deviation, and how demand and supply determine the equilibrium interest rate.

Risk, Cost of Capital, and ValuationChapter 13Copyrigh.docx

Risk, Cost of Capital, and Valuation
Chapter 13
Copyright © 2013 by the McGraw-Hill Companies, Inc. All rights reserved.
McGraw-Hill/Irwin
*
13-*
Key Concepts and SkillsKnow how to determine a firm’s cost of equity capitalUnderstand the impact of beta in determining the firm’s cost of equity capitalKnow how to determine the firm’s overall cost of capitalUnderstand the impact of flotation costs on capital budgeting
*
13-*
Chapter Outline
13.1 The Cost of Equity Capital
13.2 Estimating the Cost of Equity Capital with the CAPM
13.3 Estimation of Beta
13.4Determinants of Beta
13.5The Dividend Discount Model Approach
13.6Cost of Capital for Divisions and Projects
13.7Cost of Fixed Income Securities
13.8The Weighted Average Cost of Capital
13.9Valuation with RWACC
13.10Estimating Eastman Chemical’s Cost of Capital
13.11Flotation Costs and the Weighted Average Cost of Capital
*
13-*
Where Do We Stand?Earlier chapters on capital budgeting focused on the appropriate size and timing of cash flows.This chapter discusses the appropriate discount rate when cash flows are risky.
*
The terms discount rate, required return, and cost of capital are all synonymous.
13-*
Invest in project
13.1 The Cost of Equity Capital
Firm with
excess cash
Shareholder’s Terminal Value
Pay cash dividend
Shareholder invests in financial asset
Because stockholders can reinvest the dividend in risky financial assets, the expected return on a capital-budgeting project should be at least as great as the expected return on a financial asset of comparable risk.
A firm with excess cash can either pay a dividend or make a capital investment
*
Therefore, the discount rate of a project should be the expected return on a financial asset of comparable risk.
13-*
The Cost of Equity CapitalFrom the firm’s perspective, the expected return is the Cost of Equity Capital:To estimate a firm’s cost of equity capital, we need to know three things:The risk-free rate, RFThe market risk premium,The company beta,
*
13-*
ExampleSuppose the stock of Stansfield Enterprises, a publisher of PowerPoint presentations, has a beta of 1.5. The firm is 100% equity financed. Assume a risk-free rate of 3% and a market risk premium of 7%.What is the appropriate discount rate for an expansion of this firm?
*
You may want to note that this example assumes expansion into projects that are similar to the existing nature of the business. Also, point out that the firm is all equity, thus its discount rate is the cost of equity.
13-*
Example
Suppose Stansfield Enterprises is evaluating the following independent projects. Each costs $100 and lasts one year.
Project
Project b
Project’s Estimated Cash Flows Next Year
IRR
NPV at 13.5%
A
1.5
$125
25%
$10.13
B
1.5
$113.5
13.5%
$0
C
1.5
$105
5%
-$7.49
*
13-*
Using the SML
An all-equity firm should accept projects whose IRRs exceed the cost of equity capital and reject projects whose IRRs fall sh ...

M04mish152006ppwc04 100622012537-phpapp01

The document discusses factors that cause changes in interest rates over time, including demand and supply forces in the bond market. It provides examples to illustrate key concepts like expected return, risk, and how the demand and supply curves are derived. The demand for bonds increases when wealth rises or expected bond returns increase relative to other assets. The supply of bonds rises when expected returns fall. Equilibrium occurs where demand and supply are equal, and equilibrium interest rates change when the demand or supply curves shift due to factors like wealth, expected returns on bonds and other assets.

CAPM WACC.ppt

The document provides an overview of key concepts in corporate finance including the three primary duties of financial managers, risk and return, and capital structure choice. It discusses:
1) The three primary duties of financial managers are making capital budgeting, capital structure, and working capital decisions.
2) Risk and return are positively related - higher returns require taking on more risk. Diversification across different asset classes can reduce risk. The Capital Asset Pricing Model describes expected asset returns.
3) Capital structure choice involves deciding whether to fund the company through equity or debt. Weighted average cost of capital is the blended cost of these funding sources.

Risk and Returns

This chapter discusses the relationship between risk and return for both individual assets and portfolios of assets. It defines risk as the chance of financial loss and explains that higher risk assets generally provide higher expected returns. The chapter covers measuring the expected return, standard deviation, and coefficient of variation of individual assets. It then explains how forming a portfolio of assets can reduce overall risk through diversification. The chapter discusses how the correlation between asset returns impacts the risk reduction from diversification. It also addresses how adding more assets to a portfolio continues to reduce non-market or unique risk.

chap011.ppt

The document summarizes key topics from Chapter 11 of a corporate finance textbook, including measuring market risk using beta, the relationship between risk and return as defined by the Capital Asset Pricing Model (CAPM), and applying the CAPM to determine the appropriate cost of capital for capital budgeting decisions based on a project's individual risk level. Examples are provided to illustrate calculating beta and determining the cost of capital for projects with different risk profiles.

Chap010.ppt

This chapter discusses market risk and its measurement. It provides examples of how major trading losses at banks like Barings and Sumitomo occurred due to poor risk management. It then outlines approaches to measuring market risk exposure, including dollar value exposure, RiskMetrics, historical simulation, and Monte Carlo simulation. Regulators set capital requirements based on measures of market risk to ensure banks hold sufficient capital to cover potential losses.

Ch11 - The Cost of Capital

This document discusses the cost of capital and how firms calculate it. It defines the cost of capital as the rate of return a firm must earn on investments to maintain its stock price. A firm needs to calculate its weighted average cost of capital (WACC) to properly evaluate investment opportunities. The WACC takes into account the different costs of a firm's sources of capital, such as debt and equity, weighted by their proportions in the firm's target capital structure. The document outlines how to calculate the costs of different sources of capital and how to determine the WACC.

Cha 4

This chapter discusses factors that cause interest rates to change, including:
1. Supply and demand in the bond market, where the demand curve can shift due to changes in wealth, expected returns, risk, and liquidity. The supply curve can shift due to expected profitability, inflation, and government activities.
2. When the demand or supply curves shift, they cause interest rates to change to reach a new equilibrium. For example, higher expected returns will shift demand out and increase rates, while higher expected inflation will shift supply out and increase rates.
3. The chapter provides examples to illustrate concepts like expected return, risk measured by standard deviation, and how demand and supply determine the equilibrium interest rate.

Risk, Cost of Capital, and ValuationChapter 13Copyrigh.docx

Risk, Cost of Capital, and Valuation
Chapter 13
Copyright © 2013 by the McGraw-Hill Companies, Inc. All rights reserved.
McGraw-Hill/Irwin
*
13-*
Key Concepts and SkillsKnow how to determine a firm’s cost of equity capitalUnderstand the impact of beta in determining the firm’s cost of equity capitalKnow how to determine the firm’s overall cost of capitalUnderstand the impact of flotation costs on capital budgeting
*
13-*
Chapter Outline
13.1 The Cost of Equity Capital
13.2 Estimating the Cost of Equity Capital with the CAPM
13.3 Estimation of Beta
13.4Determinants of Beta
13.5The Dividend Discount Model Approach
13.6Cost of Capital for Divisions and Projects
13.7Cost of Fixed Income Securities
13.8The Weighted Average Cost of Capital
13.9Valuation with RWACC
13.10Estimating Eastman Chemical’s Cost of Capital
13.11Flotation Costs and the Weighted Average Cost of Capital
*
13-*
Where Do We Stand?Earlier chapters on capital budgeting focused on the appropriate size and timing of cash flows.This chapter discusses the appropriate discount rate when cash flows are risky.
*
The terms discount rate, required return, and cost of capital are all synonymous.
13-*
Invest in project
13.1 The Cost of Equity Capital
Firm with
excess cash
Shareholder’s Terminal Value
Pay cash dividend
Shareholder invests in financial asset
Because stockholders can reinvest the dividend in risky financial assets, the expected return on a capital-budgeting project should be at least as great as the expected return on a financial asset of comparable risk.
A firm with excess cash can either pay a dividend or make a capital investment
*
Therefore, the discount rate of a project should be the expected return on a financial asset of comparable risk.
13-*
The Cost of Equity CapitalFrom the firm’s perspective, the expected return is the Cost of Equity Capital:To estimate a firm’s cost of equity capital, we need to know three things:The risk-free rate, RFThe market risk premium,The company beta,
*
13-*
ExampleSuppose the stock of Stansfield Enterprises, a publisher of PowerPoint presentations, has a beta of 1.5. The firm is 100% equity financed. Assume a risk-free rate of 3% and a market risk premium of 7%.What is the appropriate discount rate for an expansion of this firm?
*
You may want to note that this example assumes expansion into projects that are similar to the existing nature of the business. Also, point out that the firm is all equity, thus its discount rate is the cost of equity.
13-*
Example
Suppose Stansfield Enterprises is evaluating the following independent projects. Each costs $100 and lasts one year.
Project
Project b
Project’s Estimated Cash Flows Next Year
IRR
NPV at 13.5%
A
1.5
$125
25%
$10.13
B
1.5
$113.5
13.5%
$0
C
1.5
$105
5%
-$7.49
*
13-*
Using the SML
An all-equity firm should accept projects whose IRRs exceed the cost of equity capital and reject projects whose IRRs fall sh ...

M04mish152006ppwc04 100622012537-phpapp01

The document discusses factors that cause changes in interest rates over time, including demand and supply forces in the bond market. It provides examples to illustrate key concepts like expected return, risk, and how the demand and supply curves are derived. The demand for bonds increases when wealth rises or expected bond returns increase relative to other assets. The supply of bonds rises when expected returns fall. Equilibrium occurs where demand and supply are equal, and equilibrium interest rates change when the demand or supply curves shift due to factors like wealth, expected returns on bonds and other assets.

CAPM WACC.ppt

The document provides an overview of key concepts in corporate finance including the three primary duties of financial managers, risk and return, and capital structure choice. It discusses:
1) The three primary duties of financial managers are making capital budgeting, capital structure, and working capital decisions.
2) Risk and return are positively related - higher returns require taking on more risk. Diversification across different asset classes can reduce risk. The Capital Asset Pricing Model describes expected asset returns.
3) Capital structure choice involves deciding whether to fund the company through equity or debt. Weighted average cost of capital is the blended cost of these funding sources.

Corporate_Finance_Global_Edition_Chapter.pptx

This chapter discusses methods for estimating the cost of equity and debt capital for firms and calculating a weighted average cost of capital. It introduces the capital asset pricing model (CAPM) as a method to estimate the cost of equity based on the risk-free rate, market risk premium, and a stock's beta. Determinants of beta like operating and financial leverage are also covered. The chapter then discusses using the WACC to evaluate projects and value firms by discounting cash flows. It concludes by addressing flotation costs associated with raising new capital.

chap005.ppt

This document provides an overview of bond valuation concepts including bond characteristics, interest rates and prices, yields, and default risk. It discusses how to calculate bond prices using present value techniques and how prices are affected by changes in interest rates, maturity, and credit quality. Examples are provided to illustrate bond pricing and yield calculations. Risks associated with changes in interest rates over the bond's life are also examined.

Chap012

This document discusses concepts related to measuring market risk and the Capital Asset Pricing Model (CAPM). It provides examples to illustrate how to calculate beta and the market risk premium. It also discusses limitations of CAPM and alternative models. The key points are:
1) Beta measures the sensitivity of a stock's returns to changes in the market and is used to estimate the expected return under CAPM.
2) CAPM holds that the expected return is equal to the risk-free rate plus the product of beta and the market risk premium.
3) Empirical tests have found mixed support for CAPM and alternative models like the Fama-French three-factor model may better explain returns.

Bba 2204 fin mgt week 8 risk and return

This document discusses risk and return in financial management. It provides learning goals related to understanding risk, return, and risk preferences. It defines risk as the uncertainty of returns from an investment and return as the total gain from an investment. It discusses measuring the risk of single assets using scenarios, probabilities, standard deviation, and the coefficient of variation. It also introduces the concept of measuring the risk and return of a portfolio by considering the correlation between assets.

Fin350 week 7 module 7 practice problems fin 350

Fin350 Week 7 Module 7 Practice Problems/Fin 350
Click Link Below To Buy:
https://hwaid.com/shop/fin350-week-7-module-7-practice-problemsfin-350/
Contact Us:
hwaidservices@gmail.com

Better Portfolios Define the Efficient Frontier

This document provides an outline and overview of key concepts related to expected returns, risk, and the security market line. It includes sections on expected returns and variances, portfolios, systematic and unsystematic risk, diversification, beta, and the relationship between risk and expected return as defined by the security market line. Examples are provided to illustrate calculations of expected returns, variance, portfolio weights, betas, and how the security market line relates expected return to systematic risk.

the risk structure of interest rates defaults prepayments, taxes, and other r...

This chapter discusses factors that influence interest rates beyond just maturity and inflation. These include default risk, call privileges, prepayment risk, taxation, marketability, liquidity, and convertibility. Higher default risk, prepayment risk, or call risk result in higher interest rates, while greater marketability and liquidity lead to lower rates. Taxes also impact rates, as tax-exempt securities have lower yields. Understanding how these various factors create differences in interest rates helps explain why there is no single rate.

Chp 02 Discountrates Hitam

This document discusses methods for estimating discount rates, which are a critical input for discounted cash flow valuations. It covers:
- Using the cost of equity for equity cash flows and the cost of capital for firm cash flows
- Matching the currency and risk (nominal vs real) of the discount rate to the cash flows
- Models for estimating the cost of equity like CAPM, multifactor models, and proxies
- Estimating inputs like the risk-free rate, equity risk premium, and company-specific betas
- Approaches for estimating country risk premiums and applying them at the company-level based on exposure factors like revenue sources.

Capital Asset Pricing Model

Capital Asset Pricing Model (CAPM)
A model that describes the relationship between risk and expected return. The general idea behind CAPM is that investors need to be compensated in two ways: time value of money & risk. The time value of money is represented by the risk-free (rf) rate in the formula and compensates the investors for placing money in any investment over a period of time. The other half of the formula represents risk and calculates the amount of compensation the investor needs for taking on additional risk. This is calculated by taking a risk gauge (beta) that compares the returns of the asset to the market over a period of time and to the market premium (Rm-rf).

chap012.ppt

The document discusses the weighted average cost of capital (WACC) and how it is used to value companies. It provides examples of calculating WACC based on a company's capital structure and required rates of return on debt and equity. WACC is the weighted average of the cost of the company's various sources of financing and provides the minimum return needed to attract investors. The document outlines the steps for determining a company's WACC, including calculating market values for debt and equity and determining required rates of return for each.

THE CAPM.pptx

The Capital Asset Pricing Model (CAPM) is a model used to determine the expected return of an asset based on its beta and the expected market return. Beta measures the volatility of a security compared to the overall market. The CAPM formula states that the expected return is equal to the risk-free rate plus the product of beta and the market risk premium. CAPM helps price assets by linking their expected return to the amount of non-diversifiable risk relative to the market.

Fm11 ch 05 show

This document provides an overview of portfolio theory and several asset pricing models, including:
- Portfolio theory concepts such as the efficient frontier and capital market line
- The Capital Asset Pricing Model (CAPM) and its assumptions, including how betas are calculated
- Criticisms of the CAPM and problems testing it empirically
- The Arbitrage Pricing Theory as an alternative multi-factor model
- The Fama-French three-factor model as another improvement over the single-factor CAPM

Fm11 ch 05 risk and return portfolio theory and asset pricing models

This document provides an overview of portfolio theory and several asset pricing models, including:
- Portfolio theory concepts such as the efficient frontier and capital market line (CML).
- The Capital Asset Pricing Model (CAPM), which proposes that only systematic risk affects asset returns. It introduces the security market line (SML) and beta coefficient.
- The Arbitrage Pricing Theory (APT), which suggests asset returns are explained by multiple factors rather than just one factor as the CAPM proposes.
- The Fama-French three-factor model, which adds size and book-to-market factors to the market factor from the CAPM.

Problem 1 Two projects have the following NPVs and standard de.docx

Problem 1
Two projects have the following NPVs and standard deviations:
Project A
Project B
NPV
200
300
Standard deviation
75
100
Which of the two projects is more risky?
Problem 2
Your firm has an opportunity to make an investment of $50,000. Its cost of capital is 12 percent. It expects after-tax cash flows (including the tax shield from depreciation) for the next five years to be as follows:
Year 1
$10,000
Year 2
$20,000
Year 3
$30,000
Year 4
$20,000
Year 5
$ 5,000
a. Calculate the NPV.
b. Calculate the IRR (to the nearest percent)
c. Would you accept this project?
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Chapter 11
Game Theory
and
Asymmetric Information
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
OverviewGame theoryGame theory and auctionsStrategy and game theory
Asymmetric informationReputationStandardizationMarket signaling
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Game theoryEconomic optimization has two shortcomings when applied to actual business situations
assumes factors such as reaction of competitors or tastes and preferences of consumers remain constant
managers sometimes make decisions when other parties have more information about market conditions
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Game theory
Game theory: is concerned with “how individuals make decisions when they are aware that their actions affect each other and when each individual takes this into account”
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Game theoryFundamental aspects of game theoryplayers are interdependentuncertainty: other players’ actions are not entirely predictable
Types of gameszero-sum or non-zero-sumcooperative or non-cooperativetwo-person or n-person
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Games in economicsPrisoners’ Dilemmatwo-person, non-zero-sum, non-cooperativealways has a dominant strategyequilibrium is stable
confessing is dominant strategy for each player, no matter what other player chooses
each player has no incentive to unilaterally change his strategy
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Games in economics
Oligopoly pricing using
prisoners’ dilemma
(Low/Low) is a stable equilibrium … no incentive for either firm to deviate
better off at (High/High) but it is not stable .

Training Module on Electricity Market Regulation - SESSION 5 - Cost of Capital

The weighted average cost of capital (WACC) methodology is a widely accepted method for calculating the allowed rate of return. Regulators use different models to set the allowed cost of capital. This section explains the models and their practical application.
Definition of cost of capital : WACC / Cost of equity / Cost of debt / Capital structure (gearing) / Treatment of taxes
Quantification of cost of capital : CAPM (Capital Assets Pricing Model) / Price Arbitrage Theory / Dividend Growth Model / Comparable Earnings Model / "Precedent Case" Approach
Financial Analysis

6. risk return

This chapter discusses risk and return, including defining and measuring expected return, risk, and the relationship between risk and return. It covers calculating expected cash flows and returns based on probabilities of different outcomes. Risk is defined as variability in future cash flows and can be measured using standard deviation, which measures volatility of returns. The chapter also discusses how diversifying investments can reduce risk and the relationship between an investor's required return and the riskiness of an investment.

Risk And Return Measurement For Investment Decisions

The document discusses various concepts related to measuring risk and return for investment decisions. It covers key terms, risk diversification through investing in multiple countries and industries, measuring volatility in earnings, valuing companies using discounted cash flow methods, hedging risk exposures, combining hedge funds with traditional equities, the benefits of risk management, portfolio analysis of risk and return, and concludes with thanking the reader.

Pricing Intellectual Proper Litigation Risk In IP Transactions

This document discusses pricing intellectual property (IP) litigation risk in transactions. It proposes a quantitative, business-focused approach using decision analysis and risk valuation. As an example, it examines how much a contract electronics manufacturer should charge customers to account for IP litigation risk when taking on more design responsibilities. Key factors in evaluating IP litigation risk from different potential plaintiffs are identified and base case estimates are provided for a specific product area. Developing sensitivity analyses on input variables can show their relative impact on expected risk values.

CAPM part 2

Prepared by Students of University of Rajshahi
Shahin Islam
Aslam Hossain
Shahidul Islam
Amy Khatun
Sohanuzzaman Sohan
MD. Rehan
Bikash Kumar
Rahid Hasan
Ali Haider
Uttam Kumar
MD. Abdullah AL Mamun
Mamunur Rahman
presented by Mango squad
For downloading this contact- bikashkumar.bk100@gmail.com

Ch 5 international capital structure and cost of capital latest

This document discusses international capital structures and costs of capital. It covers several topics: (1) how the cost of capital is estimated using weighted average cost of capital and CAPM models; (2) how segmented vs integrated capital markets impact cost of capital calculations; (3) evidence that costs of capital differ among countries; (4) benefits and costs of cross-border stock listings for reducing costs; and (5) how foreign ownership restrictions can increase costs through pricing-to-market effects. The chapter aims to explain how multinational firms can reduce their costs of capital through international diversification and accessing different capital markets.

developing service productdeveloping service product

This document outlines chapters from a textbook on service marketing. Chapter 6 discusses setting prices and implementing revenue management for services. It covers effective pricing strategies, using cost-based, value-based, and competition-based approaches. Revenue management aims to maximize revenue by charging different customer segments different prices based on price sensitivity. The chapter also addresses ethical concerns in complex pricing structures and puts pricing strategies into practice.

service marketing Essentials of Services Marketing,2nd Edition

The document outlines key concepts from Chapter 4 of a services marketing textbook, including the "flower of service" model which depicts a core product surrounded by facilitating and enhancing supplementary services. It also discusses branding strategies for services, from using a single branded house to distinct subbrands. Finally, it introduces a hierarchy of new service categories and factors for successful new service development, such as market synergy, organizational support, and market research.

Corporate_Finance_Global_Edition_Chapter.pptx

This chapter discusses methods for estimating the cost of equity and debt capital for firms and calculating a weighted average cost of capital. It introduces the capital asset pricing model (CAPM) as a method to estimate the cost of equity based on the risk-free rate, market risk premium, and a stock's beta. Determinants of beta like operating and financial leverage are also covered. The chapter then discusses using the WACC to evaluate projects and value firms by discounting cash flows. It concludes by addressing flotation costs associated with raising new capital.

chap005.ppt

This document provides an overview of bond valuation concepts including bond characteristics, interest rates and prices, yields, and default risk. It discusses how to calculate bond prices using present value techniques and how prices are affected by changes in interest rates, maturity, and credit quality. Examples are provided to illustrate bond pricing and yield calculations. Risks associated with changes in interest rates over the bond's life are also examined.

Chap012

This document discusses concepts related to measuring market risk and the Capital Asset Pricing Model (CAPM). It provides examples to illustrate how to calculate beta and the market risk premium. It also discusses limitations of CAPM and alternative models. The key points are:
1) Beta measures the sensitivity of a stock's returns to changes in the market and is used to estimate the expected return under CAPM.
2) CAPM holds that the expected return is equal to the risk-free rate plus the product of beta and the market risk premium.
3) Empirical tests have found mixed support for CAPM and alternative models like the Fama-French three-factor model may better explain returns.

Bba 2204 fin mgt week 8 risk and return

This document discusses risk and return in financial management. It provides learning goals related to understanding risk, return, and risk preferences. It defines risk as the uncertainty of returns from an investment and return as the total gain from an investment. It discusses measuring the risk of single assets using scenarios, probabilities, standard deviation, and the coefficient of variation. It also introduces the concept of measuring the risk and return of a portfolio by considering the correlation between assets.

Fin350 week 7 module 7 practice problems fin 350

Fin350 Week 7 Module 7 Practice Problems/Fin 350
Click Link Below To Buy:
https://hwaid.com/shop/fin350-week-7-module-7-practice-problemsfin-350/
Contact Us:
hwaidservices@gmail.com

Better Portfolios Define the Efficient Frontier

This document provides an outline and overview of key concepts related to expected returns, risk, and the security market line. It includes sections on expected returns and variances, portfolios, systematic and unsystematic risk, diversification, beta, and the relationship between risk and expected return as defined by the security market line. Examples are provided to illustrate calculations of expected returns, variance, portfolio weights, betas, and how the security market line relates expected return to systematic risk.

the risk structure of interest rates defaults prepayments, taxes, and other r...

This chapter discusses factors that influence interest rates beyond just maturity and inflation. These include default risk, call privileges, prepayment risk, taxation, marketability, liquidity, and convertibility. Higher default risk, prepayment risk, or call risk result in higher interest rates, while greater marketability and liquidity lead to lower rates. Taxes also impact rates, as tax-exempt securities have lower yields. Understanding how these various factors create differences in interest rates helps explain why there is no single rate.

Chp 02 Discountrates Hitam

This document discusses methods for estimating discount rates, which are a critical input for discounted cash flow valuations. It covers:
- Using the cost of equity for equity cash flows and the cost of capital for firm cash flows
- Matching the currency and risk (nominal vs real) of the discount rate to the cash flows
- Models for estimating the cost of equity like CAPM, multifactor models, and proxies
- Estimating inputs like the risk-free rate, equity risk premium, and company-specific betas
- Approaches for estimating country risk premiums and applying them at the company-level based on exposure factors like revenue sources.

Capital Asset Pricing Model

Capital Asset Pricing Model (CAPM)
A model that describes the relationship between risk and expected return. The general idea behind CAPM is that investors need to be compensated in two ways: time value of money & risk. The time value of money is represented by the risk-free (rf) rate in the formula and compensates the investors for placing money in any investment over a period of time. The other half of the formula represents risk and calculates the amount of compensation the investor needs for taking on additional risk. This is calculated by taking a risk gauge (beta) that compares the returns of the asset to the market over a period of time and to the market premium (Rm-rf).

chap012.ppt

The document discusses the weighted average cost of capital (WACC) and how it is used to value companies. It provides examples of calculating WACC based on a company's capital structure and required rates of return on debt and equity. WACC is the weighted average of the cost of the company's various sources of financing and provides the minimum return needed to attract investors. The document outlines the steps for determining a company's WACC, including calculating market values for debt and equity and determining required rates of return for each.

THE CAPM.pptx

The Capital Asset Pricing Model (CAPM) is a model used to determine the expected return of an asset based on its beta and the expected market return. Beta measures the volatility of a security compared to the overall market. The CAPM formula states that the expected return is equal to the risk-free rate plus the product of beta and the market risk premium. CAPM helps price assets by linking their expected return to the amount of non-diversifiable risk relative to the market.

Fm11 ch 05 show

This document provides an overview of portfolio theory and several asset pricing models, including:
- Portfolio theory concepts such as the efficient frontier and capital market line
- The Capital Asset Pricing Model (CAPM) and its assumptions, including how betas are calculated
- Criticisms of the CAPM and problems testing it empirically
- The Arbitrage Pricing Theory as an alternative multi-factor model
- The Fama-French three-factor model as another improvement over the single-factor CAPM

Fm11 ch 05 risk and return portfolio theory and asset pricing models

This document provides an overview of portfolio theory and several asset pricing models, including:
- Portfolio theory concepts such as the efficient frontier and capital market line (CML).
- The Capital Asset Pricing Model (CAPM), which proposes that only systematic risk affects asset returns. It introduces the security market line (SML) and beta coefficient.
- The Arbitrage Pricing Theory (APT), which suggests asset returns are explained by multiple factors rather than just one factor as the CAPM proposes.
- The Fama-French three-factor model, which adds size and book-to-market factors to the market factor from the CAPM.

Problem 1 Two projects have the following NPVs and standard de.docx

Problem 1
Two projects have the following NPVs and standard deviations:
Project A
Project B
NPV
200
300
Standard deviation
75
100
Which of the two projects is more risky?
Problem 2
Your firm has an opportunity to make an investment of $50,000. Its cost of capital is 12 percent. It expects after-tax cash flows (including the tax shield from depreciation) for the next five years to be as follows:
Year 1
$10,000
Year 2
$20,000
Year 3
$30,000
Year 4
$20,000
Year 5
$ 5,000
a. Calculate the NPV.
b. Calculate the IRR (to the nearest percent)
c. Would you accept this project?
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Chapter 11
Game Theory
and
Asymmetric Information
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
OverviewGame theoryGame theory and auctionsStrategy and game theory
Asymmetric informationReputationStandardizationMarket signaling
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Game theoryEconomic optimization has two shortcomings when applied to actual business situations
assumes factors such as reaction of competitors or tastes and preferences of consumers remain constant
managers sometimes make decisions when other parties have more information about market conditions
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Game theory
Game theory: is concerned with “how individuals make decisions when they are aware that their actions affect each other and when each individual takes this into account”
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Game theoryFundamental aspects of game theoryplayers are interdependentuncertainty: other players’ actions are not entirely predictable
Types of gameszero-sum or non-zero-sumcooperative or non-cooperativetwo-person or n-person
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Games in economicsPrisoners’ Dilemmatwo-person, non-zero-sum, non-cooperativealways has a dominant strategyequilibrium is stable
confessing is dominant strategy for each player, no matter what other player chooses
each player has no incentive to unilaterally change his strategy
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter Eleven
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall.
*
Games in economics
Oligopoly pricing using
prisoners’ dilemma
(Low/Low) is a stable equilibrium … no incentive for either firm to deviate
better off at (High/High) but it is not stable .

Training Module on Electricity Market Regulation - SESSION 5 - Cost of Capital

The weighted average cost of capital (WACC) methodology is a widely accepted method for calculating the allowed rate of return. Regulators use different models to set the allowed cost of capital. This section explains the models and their practical application.
Definition of cost of capital : WACC / Cost of equity / Cost of debt / Capital structure (gearing) / Treatment of taxes
Quantification of cost of capital : CAPM (Capital Assets Pricing Model) / Price Arbitrage Theory / Dividend Growth Model / Comparable Earnings Model / "Precedent Case" Approach
Financial Analysis

6. risk return

This chapter discusses risk and return, including defining and measuring expected return, risk, and the relationship between risk and return. It covers calculating expected cash flows and returns based on probabilities of different outcomes. Risk is defined as variability in future cash flows and can be measured using standard deviation, which measures volatility of returns. The chapter also discusses how diversifying investments can reduce risk and the relationship between an investor's required return and the riskiness of an investment.

Risk And Return Measurement For Investment Decisions

The document discusses various concepts related to measuring risk and return for investment decisions. It covers key terms, risk diversification through investing in multiple countries and industries, measuring volatility in earnings, valuing companies using discounted cash flow methods, hedging risk exposures, combining hedge funds with traditional equities, the benefits of risk management, portfolio analysis of risk and return, and concludes with thanking the reader.

Pricing Intellectual Proper Litigation Risk In IP Transactions

This document discusses pricing intellectual property (IP) litigation risk in transactions. It proposes a quantitative, business-focused approach using decision analysis and risk valuation. As an example, it examines how much a contract electronics manufacturer should charge customers to account for IP litigation risk when taking on more design responsibilities. Key factors in evaluating IP litigation risk from different potential plaintiffs are identified and base case estimates are provided for a specific product area. Developing sensitivity analyses on input variables can show their relative impact on expected risk values.

CAPM part 2

Prepared by Students of University of Rajshahi
Shahin Islam
Aslam Hossain
Shahidul Islam
Amy Khatun
Sohanuzzaman Sohan
MD. Rehan
Bikash Kumar
Rahid Hasan
Ali Haider
Uttam Kumar
MD. Abdullah AL Mamun
Mamunur Rahman
presented by Mango squad
For downloading this contact- bikashkumar.bk100@gmail.com

Ch 5 international capital structure and cost of capital latest

This document discusses international capital structures and costs of capital. It covers several topics: (1) how the cost of capital is estimated using weighted average cost of capital and CAPM models; (2) how segmented vs integrated capital markets impact cost of capital calculations; (3) evidence that costs of capital differ among countries; (4) benefits and costs of cross-border stock listings for reducing costs; and (5) how foreign ownership restrictions can increase costs through pricing-to-market effects. The chapter aims to explain how multinational firms can reduce their costs of capital through international diversification and accessing different capital markets.

Corporate_Finance_Global_Edition_Chapter.pptx

Corporate_Finance_Global_Edition_Chapter.pptx

chap005.ppt

chap005.ppt

Chap012

Chap012

Bba 2204 fin mgt week 8 risk and return

Bba 2204 fin mgt week 8 risk and return

Fin350 week 7 module 7 practice problems fin 350

Fin350 week 7 module 7 practice problems fin 350

Better Portfolios Define the Efficient Frontier

Better Portfolios Define the Efficient Frontier

the risk structure of interest rates defaults prepayments, taxes, and other r...

the risk structure of interest rates defaults prepayments, taxes, and other r...

Chp 02 Discountrates Hitam

Chp 02 Discountrates Hitam

Capital Asset Pricing Model

Capital Asset Pricing Model

chap012.ppt

chap012.ppt

THE CAPM.pptx

THE CAPM.pptx

Fm11 ch 05 show

Fm11 ch 05 show

Fm11 ch 05 risk and return portfolio theory and asset pricing models

Fm11 ch 05 risk and return portfolio theory and asset pricing models

Problem 1 Two projects have the following NPVs and standard de.docx

Problem 1 Two projects have the following NPVs and standard de.docx

Training Module on Electricity Market Regulation - SESSION 5 - Cost of Capital

Training Module on Electricity Market Regulation - SESSION 5 - Cost of Capital

6. risk return

6. risk return

Risk And Return Measurement For Investment Decisions

Risk And Return Measurement For Investment Decisions

Pricing Intellectual Proper Litigation Risk In IP Transactions

Pricing Intellectual Proper Litigation Risk In IP Transactions

CAPM part 2

CAPM part 2

Ch 5 international capital structure and cost of capital latest

Ch 5 international capital structure and cost of capital latest

developing service productdeveloping service product

This document outlines chapters from a textbook on service marketing. Chapter 6 discusses setting prices and implementing revenue management for services. It covers effective pricing strategies, using cost-based, value-based, and competition-based approaches. Revenue management aims to maximize revenue by charging different customer segments different prices based on price sensitivity. The chapter also addresses ethical concerns in complex pricing structures and puts pricing strategies into practice.

service marketing Essentials of Services Marketing,2nd Edition

The document outlines key concepts from Chapter 4 of a services marketing textbook, including the "flower of service" model which depicts a core product surrounded by facilitating and enhancing supplementary services. It also discusses branding strategies for services, from using a single branded house to distinct subbrands. Finally, it introduces a hierarchy of new service categories and factors for successful new service development, such as market synergy, organizational support, and market research.

Creating the Product.pdf.pdf

The document discusses different aspects of products, including:
1) The core, actual, and augmented product - with the core being the benefits, actual being the tangible good/service, and augmented including additional features like warranty.
2) Classifying products as durable vs nondurable and shopping vs specialty products.
3) The process of innovation and developing new products, which involves understanding customer perspectives and continuously looking to improve existing products or develop new ones, though this is becoming more difficult due to high costs.

Defining Marketing .pdf.pdf

This document defines marketing and discusses its core concepts. Marketing is defined as managing profitable customer relationships by attracting new customers and growing current customers. The core concepts of marketing include understanding customer needs, wants and demands; developing offers that provide value and satisfaction to customers; facilitating exchanges and relationships; and understanding relevant markets. The document also discusses different marketing management orientations such as production, product, selling, marketing, and societal concepts. It emphasizes that the marketing concept focuses on customer needs to achieve organizational goals.

pricing .pdf.pdf

The document outlines the steps in the price planning process:
1) Develop pricing objectives such as sales, profit, competitive effects, and customer satisfaction.
2) Estimate demand through forecasting and understanding how demand changes with price. Price elasticity measures sensitivity to price changes.
3) Determine costs including fixed costs that do not vary with production and variable costs that do vary with production. Break-even analysis is used to determine the quantity needed to be produced and sold to cover total costs.

Ch. 6ed Cost of Capital.ppt.ppt

The document provides an overview of cost of capital concepts including the components of cost of capital (debt, preferred stock, common equity), weighted average cost of capital (WACC), and factors that affect the WACC. It then discusses various methods for calculating the cost of different capital components, including the cost of debt, cost of preferred stock, and cost of common equity using the capital asset pricing model (CAPM), dividend capitalization model, and own-bond-yield-plus-risk-premium method. Examples are provided to illustrate how to apply these methods to determine the weighted average cost of capital for a company.

lec1.pptx.pptx

This document discusses problem solving and the creative thinking process. It defines a problem as a question or situation that requires a solution. It outlines three types of problems: defining the real problem, types of problems based on severity and importance, and the four-step problem solving process of defining the problem, generating solutions, evaluating solutions, and implementing and following up on the selected solution.

Section 1.pptx

The marketing process involves understanding customer needs and creating value for customers through products and services to build relationships. The goal is to attract new customers by meeting needs better than competitors and keeping current customers satisfied. Marketing management determines target customer segments and designs a value proposition to meet their needs. The marketing concept orientation focuses on knowing customer needs and fulfilling them better than others.

lec1.ppt.ppt

This document summarizes the evolution of electronic commerce and web technologies. It describes how e-commerce began in 1995 with basic online retail and advertising, and has grown exponentially since. The history is broken into three periods: invention from 1995-2000, consolidation from 2001-2006, and reinvention from 2007 onward with mobile, social media, and big data. Key concepts discussed include dimensions of e-commerce, different types of organizations that use it, and underlying information systems that enable intra- and inter-organizational electronic transactions and exchanges.

errors in research design-4-.pdf.pdf

This document discusses errors in research design, specifically non-sampling errors. It defines non-sampling error as error due to factors other than random sampling. Some potential sources of non-sampling error mentioned include surrogate information error, measurement error, population definition error, sampling frame error, data analysis error, respondent selection error, questioning error, recording error, and cheating error. The document also discusses non-response error and response error as specific types of non-sampling errors and provides examples of sources of non-sampling errors like inadequate data specification and errors in data collection, tabulation, and presentation.

public adminstration.pptx

Public administration involves managing public programs and services, not for profit, at all levels of government and non-profits. There are three main approaches to studying public administration: the managerial approach focuses on efficiency, the political approach on effectiveness and constitutional safeguards, and the legal approach on applying and enforcing law. While public and private administration share aspects like resource allocation and people management, public administration faces greater visibility, ambiguity in objectives, and need to balance efficiency and responsiveness.

sec 1.ppt

Public administration involves managing public programs and organizations at all levels of government. It aims to uphold democratic values like individualism, equality, and liberty. There are three approaches to studying public administration: managerial, which focuses on efficiency; political, which emphasizes responsiveness; and legal, which relates to enforcing laws. Public administration differs from business administration in that objectives are often ambiguous, decisions require input from diverse groups, managers have greater visibility, and the goal is pursuing public rather than private purposes. Key themes in the field include balancing politics and administration, reconciling bureaucracy with democracy, and maximizing both efficiency and responsiveness. Successful public managers need conceptual, technical, and human skills.

lec4. determintes of CB Part 2.pptx.pptx

The document discusses various social and economic factors that influence consumer behavior. Social factors include family, reference groups, and roles and status. Family influences preferences from childhood, reference groups share common behaviors, and status affects purchasing patterns. Cultural factors also shape behavior and include culture, subculture, and social class. Economic factors that impact buying decisions are personal income, family income, consumer credit, liquid assets, and savings. Higher incomes and more available credit lead to more purchases, while more savings means less spending.

lec. 1 consumer behavior.pptx

Consumer behavior involves how individuals purchase, use, and dispose of goods and services. It is influenced by factors like purchasing power, social groups, personal preferences, and economic conditions. Marketers develop strategies to influence consumer perceptions and increase exposure to their brands in order to attract new customers and retain existing ones. Ethical marketing seeks to promote honesty, fairness, and responsibility in advertising.

strauss_emktg6_ppt03_-_l_r.ppt

The document discusses the 7 steps of creating an effective e-marketing plan: 1) situation analysis, 2) strategic planning, 3) objectives, 4) strategies, 5) implementation plan, 6) budget, and 7) evaluation plan. It provides details on each step, including outlining the tasks completed in steps 1-2 to develop strategies, how to form objectives, and key revenues and costs considered in the budget such as technology, marketing communication, and salaries. The overall 7-step process creates a blueprint to guide firms in allocating resources and making decisions to achieve their e-marketing goals.

strauss_emktg6_ppt06_-_l_r.ppt

Nestle Purina PetCare wanted to determine if their websites and online advertising increased offline sales. They developed 3 research questions: 1) Are buyers using our branded websites? 2) Should we invest in online advertising? 3) If so, where should we place the advertising? Purina analyzes hundreds of millions of data points from over 21.5 million consumers to inform marketing decisions. They collect both internal data like website usage and external secondary data to understand consumers, competitors and the market.

strauss_em04_-_l_r.pdf

The document discusses several key challenges and considerations for e-marketers seeking to enter emerging economy markets. It outlines how e-marketers apply market similarity analysis to identify opportunities, noting they look for similarities in areas like literacy rates, internet usage, and online payment behaviors. The strategy is influenced by limitations in those markets like low credit card availability, negative attitudes towards online shopping, slow internet connections, unreliable electricity, and lack of computer/phone access. Special wireless challenges include modifying websites for small screens and payments on mobile. Understanding these technological readiness factors and cultural differences is vital for successful e-marketing in emerging economies.

chapter05 (1).ppt

This document discusses several legal and ethical issues related to e-marketing, including:
1. Software piracy is a major problem, with 40% of software being pirated in 2001 resulting in $10.7 billion in losses.
2. Ethics concerns what is right and wrong, while law is a public endeavor created by legislatures. There is often a close relationship between ethics and law.
3. Intellectual property on the internet is protected through copyright, patent, and trademark laws, though these protections are still developing for digital contexts.

strauss_5e_ real chapter 2 02.ppt

The document discusses strategic e-marketing and performance metrics. It covers the importance of strategic planning and different e-business models. Key models addressed include activity-level (e.g. online advertising), business process-level (e.g. supply chain management), and enterprise-level (e.g. portals). The document also discusses using performance metrics and the Balanced Scorecard approach to measure e-business/e-marketing performance from customer, internal, learning/growth, and financial perspectives.

developing service productdeveloping service product

developing service productdeveloping service product

service marketing Essentials of Services Marketing,2nd Edition

service marketing Essentials of Services Marketing,2nd Edition

Creating the Product.pdf.pdf

Creating the Product.pdf.pdf

Defining Marketing .pdf.pdf

Defining Marketing .pdf.pdf

pricing .pdf.pdf

pricing .pdf.pdf

Ch. 6ed Cost of Capital.ppt.ppt

Ch. 6ed Cost of Capital.ppt.ppt

lec1.pptx.pptx

lec1.pptx.pptx

Section 1.pptx

Section 1.pptx

lec1.ppt.ppt

lec1.ppt.ppt

errors in research design-4-.pdf.pdf

errors in research design-4-.pdf.pdf

public adminstration.pptx

public adminstration.pptx

sec 1.ppt

sec 1.ppt

lec4. determintes of CB Part 2.pptx.pptx

lec4. determintes of CB Part 2.pptx.pptx

lec. 1 consumer behavior.pptx

lec. 1 consumer behavior.pptx

strauss_emktg6_ppt03_-_l_r.ppt

strauss_emktg6_ppt03_-_l_r.ppt

strauss_emktg6_ppt06_-_l_r.ppt

strauss_emktg6_ppt06_-_l_r.ppt

strauss_em04_-_l_r.pdf

strauss_em04_-_l_r.pdf

chapter05 (1).ppt

chapter05 (1).ppt

strauss_5e_ real chapter 2 02.ppt

strauss_5e_ real chapter 2 02.ppt

AI Transformation Playbook: Thinking AI-First for Your Business

I dive into how businesses can stay competitive by integrating AI into their core processes. From identifying the right approach to building collaborative teams and recognizing common pitfalls, this guide has got you covered. AI transformation is a journey, and this playbook is here to help you navigate it successfully.

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Part 2 Deep Dive: Navigating the 2024 Slowdown

Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.

DearbornMusic-KatherineJasperFullSailUni

My powerpoint presentation for my Music Retail and Distribution class at Full Sail University

The latest Heat Pump Manual from Newentide

𝐔𝐧𝐯𝐞𝐢𝐥 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐰𝐢𝐭𝐡 𝐍𝐄𝐖𝐍𝐓𝐈𝐃𝐄’𝐬 𝐋𝐚𝐭𝐞𝐬𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬
Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.

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Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka

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Unlock your kitchen's true potential with expert remodeling services from O'Brien Group Inc. Transform your space into a functional, modern, and luxurious haven with their experienced professionals. From layout reconfiguration to high-end upgrades, they deliver stunning results tailored to your style and needs. Visit obriengroupinc.com to elevate your kitchen's beauty and functionality today.

2024-6-01-IMPACTSilver-Corp-Presentation.pdf

IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.

Lundin Gold Corporate Presentation - June 2024

Lundin Gold Corporate Presentation - June 2024

Satta Matka Dpboss Kalyan Matka Results Kalyan Chart

SATTA MATKA DPBOSS KALYAN MATKA RESULTS KALYAN CHART KALYAN MATKA MATKA RESULT KALYAN MATKA TIPS SATTA MATKA MATKA COM MATKA PANA JODI TODAY BATTA SATKA MATKA PATTI JODI NUMBER MATKA RESULTS MATKA CHART MATKA JODI SATTA COM INDIA SATTA MATKA MATKA TIPS MATKA WAPKA ALL MATKA RESULT LIVE ONLINE MATKA RESULT KALYAN MATKA RESULT DPBOSS MATKA 143 MAIN MATKA KALYAN MATKA RESULTS KALYAN CHART

Cover Story - China's Investment Leader - Dr. Alyce SU

In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.

The Most Inspiring Entrepreneurs to Follow in 2024.pdf

In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.

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Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women Magazine

In this article, we will dive into the extraordinary life of Ellen Burstyn, where the curtains rise on a story that's far more attractive than any script.

Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...

Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.

TIMES BPO: Business Plan For Startup Industry

Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.

Kirill Klip GEM Royalty TNR Gold Lithium Presentation

Lithium Will Power Us For The Next 50 Years And Then Robots: Kirill Klip GEM Royalty TNR Gold Lithium Presentation

GKohler - Retail Scavenger Hunt Presentation

Grace Kohler - Retail Store Scavenger Hunt slides

AI Transformation Playbook: Thinking AI-First for Your Business

AI Transformation Playbook: Thinking AI-First for Your Business

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Part 2 Deep Dive: Navigating the 2024 Slowdown

Part 2 Deep Dive: Navigating the 2024 Slowdown

Science Around Us Module 2 Matter Around Us

Science Around Us Module 2 Matter Around Us

DearbornMusic-KatherineJasperFullSailUni

DearbornMusic-KatherineJasperFullSailUni

The latest Heat Pump Manual from Newentide

The latest Heat Pump Manual from Newentide

Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka

Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka

Discover the Beauty and Functionality of The Expert Remodeling Service

Discover the Beauty and Functionality of The Expert Remodeling Service

2024-6-01-IMPACTSilver-Corp-Presentation.pdf

2024-6-01-IMPACTSilver-Corp-Presentation.pdf

Lundin Gold Corporate Presentation - June 2024

Lundin Gold Corporate Presentation - June 2024

Satta Matka Dpboss Kalyan Matka Results Kalyan Chart

Satta Matka Dpboss Kalyan Matka Results Kalyan Chart

Cover Story - China's Investment Leader - Dr. Alyce SU

Cover Story - China's Investment Leader - Dr. Alyce SU

The Most Inspiring Entrepreneurs to Follow in 2024.pdf

The Most Inspiring Entrepreneurs to Follow in 2024.pdf

Call8328958814 satta matka Kalyan result satta guessing

Call8328958814 satta matka Kalyan result satta guessing

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Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women Magazine

Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women Magazine

Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...

Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...

TIMES BPO: Business Plan For Startup Industry

TIMES BPO: Business Plan For Startup Industry

Kirill Klip GEM Royalty TNR Gold Lithium Presentation

Kirill Klip GEM Royalty TNR Gold Lithium Presentation

GKohler - Retail Scavenger Hunt Presentation

GKohler - Retail Scavenger Hunt Presentation

- 1. Copyright © 2009 Pearson Prentice Hall. All rights reserved. Chapter 5 Risk and Return
- 2. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-2 Learning Goals 1. Understand the meaning and fundamentals of risk, return, and risk aversion. 2. Describe procedures for assessing and measuring the risk of a single asset. 3. Discuss the measurement of return and standard deviation for a portfolio and the concept of correlation. 4. Understand the risk and return characteristics of a portfolio in terms of correlation and diversification, and the impact of international assets on a portfolio.
- 3. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-3 Learning Goals (cont.) 5. Review the two types of risk and the derivation and role of beta in measuring the relevant risk of both a security and a portfolio. 6. Explain the capital asset pricing model (CAPM) and its relationship to the security market line (SML), and the major forces causing shifts in the SML.
- 4. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-4 Risk and Return Fundamentals • If everyone knew ahead of time how much a stock would sell for some time in the future, investing would be simple endeavor. • Unfortunately, it is difficult—if not impossible—to make such predictions with any degree of certainty. • As a result, investors often use history as a basis for predicting the future. • We will begin this chapter by evaluating the risk and return characteristics of individual assets, and end by looking at portfolios of assets.
- 5. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-5 Risk Defined • In the context of business and finance, risk is defined as the chance of suffering a financial loss. • Assets (real or financial) which have a greater chance of loss are considered more risky than those with a lower chance of loss. • Risk may be used interchangeably with the term uncertainty to refer to the variability of returns associated with a given asset. • Other sources of risk are listed on the following slide.
- 6. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-6 Table 5.1 Popular Sources of Risk Affecting Financial Managers and Shareholders
- 7. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-7 Return Defined • Return represents the total gain or loss on an investment. • The most basic way to calculate return is as follows:
- 8. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-8 Robin’s Gameroom wishes to determine the returns on two of its video machines, Conqueror and Demolition. Conqueror was purchased 1 year ago for $20,000 and currently has a market value of $21,500. During the year, it generated $800 worth of after-tax receipts. Demolition was purchased 4 years ago; its value in the year just completed declined from $12,000 to $11,800. During the year, it generated $1,700 of after-tax receipts. Return Defined (cont.)
- 9. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-9 Historical Returns Table 5.2 Historical Returns for Selected Security Investments (1926–2006)
- 10. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-10 Figure 5.1 Risk Preferences
- 11. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-11 Norman Company, a custom golf equipment manufacturer, wants to choose the better of two investments, A and B. Each requires an initial outlay of $10,000 and each has a most likely annual rate of return of 15%. Management has estimated the returns associated with each investment. The three estimates for each assets, along with its range, is given in Table 5.3. Asset A appears to be less risky than asset B. The risk averse decision maker would prefer asset A over asset B, because A offers the same most likely return with a lower range (risk). Risk of a Single Asset
- 12. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-12 Risk of a Single Asset (cont.) Table 5.3 Assets A and B
- 13. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-13 Risk of a Single Asset: Discrete Probability Distributions Figure 5.2 Bar Charts
- 14. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-14 Risk of a Single Asset: Continuous Probability Distributions Figure 5.3 Continuous Probability Distributions
- 15. Copyright © 2009 Pearson Prentice Hall. All rights reserved. 5-15 Return Measurement for a Single Asset: Expected Return • The most common statistical indicator of an asset’s risk is the standard deviation, k, which measures the dispersion around the expected value. • The expected value of a return, r-bar, is the most likely return of an asset.