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Corporate value creation : an operations framework for nonfinancial managers / Lawrence C. Karlson.
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Title:Corporate value creation : an operations framework for nonfinancial managers / Lawrence C. Karlson.
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Author/Creator:Karlson, Lawrence C., 1942-
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Published/Created:Hoboken, New Jersey : John Wiley & Sons, Inc., [2015]
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Holdings
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Location:DAVID LAM LIBRARY stacksWhere is this?
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Call Number: HG4028.V3 K364 2015
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Number of Items:1
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Status:Available
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Location:DAVID LAM LIBRARY stacksWhere is this?
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Library of Congress Subjects:Corporations--Valuation.
Corporations--Finance.
Stockholder wealth.
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Description:xx, 627 pages : illustrations ; 26 cm
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Series:Wiley corporate F & A series.
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Notes:Includes bibliographical references (page 611) and index.
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ISBN:9781118997529 (cloth)
1118997522 (cloth)
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Contents:Machine generated contents note: Introduction
Financial Statements
Income Statement
Balance Sheet
Cash Flow Statement
Required Revenue for a Given Level of Net Income
Case Study: Advanced Solar Systems Corporation
Introduction
ROCE and NiROCE
Net Investments
Investment Rate
Incorporating the IR and NiROCE into the Expression for Net Income
Incorporating IR into the Expression for Cash Flow after Investing Activities
NI and CFaIA-A Sequential Year-by-Year Analysis
NI and CFaIA-The General Model
Estimating Growth Rates of Cash Flow after Investing Activities and Net Income
Growth Rate of CFaIAg with Constant IR and NiROCE
Growth Rate of Net Income (Nlg)
Net Income Growth Rate (Nlg) with Constant IR and NiROCE
Envelope Equations Methodology for Estimating Net Income, Cash Flow after Investing Activities, and Growth Rates
Required Revenue Revisited
Growing the Net Income
Case Study: American Technology Corporation
Why Is a Company's Weighted Average Cost of Capital Important?
Weighted Average Cost of Capital Defined
Operating and Capital Leases
Weighting of the Components of Capital Structure
Market Value of Debt and Equity
Impact of Taxes on the Weighted Average Cost of Capital
Estimating the Cost of Debt and Equity and the Capital Asset Pricing Model
General Equations for Estimating the WACC for a Company with One Class of Debt and Equity
Levered and Unlevered Betas
Estimating Beta for Non-Public Companies or Business Units
Significance and Uses of the WACC
Origin of the Coefficients Used in Calculating a WACC
Multiple Hurdle Rates
Introduction to Present Value
Case Study: Omega Corporation
Introduction to Estimating Value
Valuation Considerations-Lessons Learned
Most Frequently Used Single-Stage Valuation Models
Multi-Stage Valuations
Equivalence of the Post-Forecast-Period Models
Impact of 1/(k-g) on the Perpetual Growth Model
Considerations of the Terminal Value Multiplier as Implied by the Equivalency Equations
Case Study: NexgenSonics and the Power of Discipline!
Introduction
Basic Drivers of ROCE
Some Practical Aspects of Managing Return on Capital Employed
Case Study: Pharos Corporation-The Early Days
Introduction to Maximizing Return on Capital Employed and Cash Flow
Basic Pricing-Driven Models
Value-Added Models
Introduction to Factors That Impact Corporate Performance
Depreciation and Amortization
Case Study: Innovative Engineering Corporation
Prologue
Productivity
Incorporating Operating Margin into the Productivity Model
Cycle Time
Closing Comments on Value Added and Cost
Case Study: Laser Technology Inc. Develops Its Productivity Strategy
Expense Coverage Ratio
Expense Coverage Ratio and EBITDA
Conclusion
Case Study: Safety Solutions Corporation
Introduction
Debt and Leverage
LIBOR and Pricing Loans
Debt Financing Alternatives
Credit Ratings
Relative Cost of Debt Financing
Impact of Debt on Return on Capital Employed and Return on Equity
Financial Covenants
Case Study: Edsson Corporation
Introduction
Income Statement
Balance Sheet
Some Complications
Cash Flow Statement
Case Study: Light Technologies Inc.
Present Value of Any Stream of Cash Flows
Present Value of a Cash Flow E That Takes Place at the End of Yearn
Present Value of the Terminal Value of a Cash Flow at the End of Yearn
Present Value of a Stream of Fixed Cash Flows E for n Years
Present Value of a Fixed Stream of Cash Flows in Perpetuity (n = Infinity)
Single-Stage Growth Models
Present Value of a Stream of Cash Flows That Grow at a Fixed Rate for a Finite Period
Present Value of a Stream of Cash Flows That Grow at a Fixed Rate in Perpetuity
General Equation for Present Value of Single-Stage Cash Flows That Grow at a Fixed Rate
Multistage Growth Models
Two-Stage Growth Models
Three-Stage Growth Models
Introduction
Stream of Distinct Cash Flows
Stream of Distinct Cash Flows Followed by a Stream of Perpetual Fixed Cash Flows
Stream of Distinct Cash Flows Followed by a Stream of Finite Fixed Cash Flows
Stream of Distinct Cash Flows Followed by a Stream of Perpetual Growth Cash Flows
Stream of Distinct Cash Flows Followed by a Stream of Finite Growth Cash Flows
Stream of Distinct Cash Flows Followed by a Terminal Cash Flow
Initial Cash Flow Sequentially Followed by a Finite Period of Cash Flows That Grow at a Fixed Rate gFG and a Terminal Cash Flow
Initial Cash Flow Sequentially Followed by a Finite Period of Cash Flows That Grow at a Fixed Rate gFG and a Perpetual Fixed Cash Flow
Initial Cash Flow Sequentially Followed by a Finite Period of Cash Flows That Grow at a Fixed Rate gFA for NA Periods and Perpetual Cash Flows That Grow at a Fixed Rate gpB
Stream of Cash Flows That Grow at a Fixed Rate gA for NA Periods, Followed by a Stream of Cash Flows That Grow at a Fixed Rate gB for NB Periods, and a Stream of Perpetual Growth Cash Flows That Grow at a Fixed Rate gc
Introduction
General Compound Annual Growth Rate Model
General Expression for CFaIAg, the Growth Rate of CFaIA
General Expression for NIg, the Growth Rate of NI
Introduction
ROCE and NiROCE
General Case for the Envelope Equations
Special Case: Constant Investment Rate and Net Income Return on Capital Employed
Special Case: Focus on Operational Cash Flows
Net Income and Cash Flow Growth Equations
Introduction
Generational Cost Factor
Product Life Cycle
Developing an Expression for the Cost of the Next Generation
Lifetime Revenue Factor
Growth Rates and Product Life Cycles That Satisfy the Requirement |Current = |Next
Introduction
Components of Inventory Costs
Economic Order Quantity
Shortage Costs.