Efficiency of Investment Projects
Modern Investment Models and Their Applications
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Beschreibung
Existing investment models fail to correctly assess the efficiency of investments. This happens due to both the lack of self-consistent models based on first principles and the inability to correctly assess the discount rate. This book describes innovative investment models tested in practice. The authors modify these models for real implementation conditions, including frequent payments of income tax and interest on debt at the end of periods and as advance payments, and variable payments. The book examines how these types of payments influence the efficiency of investment projects. It considers the efficiency of an investment project from two perspectives: the owners of equity and debt, and only the equity. The latest versions of two main theories of capital structure (Brusov–Filatova–Orekhova (BFO) and Modigliani–Miller (MM)) allow for the correct assessment of the discount rate when evaluating the efficiency of investment projects (both long-term and of arbitrary duration). The book also describes the practical application of the created investment models and develops a new methodology for rating investment projects.
Existing investment models fail to correctly assess the efficiency of investments. This happens due to both the lack of self-consistent models based on first principles and the inability to correctly assess the discount rate. This book describes innovative investment models tested in practice. The authors modify these models for real implementation conditions, including frequent payments of income tax and interest on debt at the end of periods and as advance payments, and variable payments. The book examines how these types of payments influence the efficiency of investment projects. It considers the efficiency of an investment project from two perspectives: the owners of equity and debt, and only the equity. The latest versions of two main theories of capital structure (Brusov–Filatova–Orekhova (BFO) and Modigliani–Miller (MM)) allow for the correct assessment of the discount rate when evaluating the efficiency of investment projects (both long-term and of arbitrary duration). The book also describes the practical application of the created investment models and develops a new methodology for rating investment projects.
Focuses on the discount rate as factor for the efficiency of investment projects Analyses how to make the valuation of investment efficency more accurate Discusses arbitration and ratings in investment projects
Autor*in
Peter Brusov
Themen in »Efficiency of Investment Projects«
Portfolio Investments Investment Models Equity Debt Modigliani–Miller theory Brusov–Filatova–Orekhova Theory Ratings Arbitration Discount Rate