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Wyszukujesz frazę "discounted cash flow" wg kryterium: Temat


Wyświetlanie 1-2 z 2
Tytuł:
Insertion algorithms to solve the resource-constrained multi-stage project scheduling problem with discounted cash flow maximization
Autorzy:
Klimek, M.
Powiązania:
https://bibliotekanauki.pl/articles/406997.pdf
Data publikacji:
2018
Wydawca:
Polska Akademia Nauk. Czytelnia Czasopism PAN
Tematy:
insertion algorithms
discounted cash flow
resource-constrained project scheduling
priority rules
Opis:
The article presents the problem of scheduling a multi-stage project with limited availability of resources with the discounted cash flow maximization criterion from the perspective of a contractor. The contractor’s cash outflows are associated with the execution of activities. The client’s payments (cash inflows for the contractor) are performed after completing the agreed project’s stages. The proposed solution for this problem is the use of insertion algorithms. Schedules are generated using forward and backward schedule generation schemes and modified justification techniques. The effectiveness of the proposed procedures is the subject of the examination with the use of standard test instances with additionally defined financial settlements of a project.
Źródło:
Management and Production Engineering Review; 2018, 9, 4; 106-116
2080-8208
2082-1344
Pojawia się w:
Management and Production Engineering Review
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
A key factor of the DCF model coherency
Autorzy:
Adamczyk, Piotr
Zbroszczyk, Agnieszka
Powiązania:
https://bibliotekanauki.pl/articles/522352.pdf
Data publikacji:
2017
Wydawca:
Uniwersytet Ekonomiczny w Katowicach
Tematy:
Discounted cash flow (DCF)
Income valuation
Reconciliation
Weighted average cost of capital (WACC)
Opis:
Aim/purpose – The aim of this paper is to provide economically justified evidence that the business value calculated by income valuation methods is the same, regardless of the type of cash flow used in the valuation algorithm. Design/methodology/approach – The evidence was arrived at using free cash flow to equity (FCFE), debt (FCFD) and firm (FCFF). The article draws attention to the FCFF method’s particular popularity in income valuation, based on analysts’ practice. It shows an overview of various approaches to determine the capital structure in the formula for WACC, both in practice and theory. Finally, it examines an empirical example with the authors’ own derivations and postulates. Findings – The conclusion drawn from the conducted analysis is that the key to the reconciliation process, and thus DCF model coherency, is to apply the appropriate method of capital structure estimation during the calculation of the weighted average cost of capital (WACC). This capital structure will henceforth be referred to as ‘income weights’. Research implications/limitations – It should be noted that the obtained compliance of valuation results does not imply that the income valuation becomes an objective way of determining business value. It still remains subjective. Originality/value/contribution – According to the presented approach, the DCF model’s subjectivism is limited to the forecasts. The rest is the algorithm which, based on the principles of mathematics, should be used in the same way in every situation.
Źródło:
Journal of Economics and Management; 2017, 28; 5-22
1732-1948
Pojawia się w:
Journal of Economics and Management
Dostawca treści:
Biblioteka Nauki
Artykuł
    Wyświetlanie 1-2 z 2

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