Valuation : the art and science of corporate investment decisions

For upper-division undergraduate and MBA students as well as business professionals. Seeing the economic realities of the modern corporation through an integrated approach. Titman/Martin presents an integrated approach to both project and enterprise valuation, showing readers the economic realities that today's modern corporations face. This text also goes beyond standard DCF analysis by including additional valuation methods that are commonly used in practice, such as comparables, simulations, and real options. The second edition includes an increased emphasis on enterprise valuation, a new chapter on financial forecasting, and enhanced examples and illustrations. Cover......Page 1 Table of Contents......Page 4 1. Overview of Valuation......Page 6 2. Forecasting and Valuing Cash Flows......Page 25 3. Project Risk Analysis......Page 58 4. Estimating a Firm’s Cost of Capital......Page 103 5. Estimating Required Rates of Return for Projects......Page 156 6. Forecasting Financial Performance......Page 191 7. Earnings Dilution, Incentive Compensation, and Project Selection......Page 229 8. Relative Valuation Using Market Comparables......Page 265 9. Enterprise Valuation......Page 321 10. Valuation in a Private Equity Setting......Page 365 11. Using Futures and Options to Value Real Investments......Page 407 12. Managerial Flexibility and Project Valuation: Real Options......Page 447 C......Page 492 E......Page 493 G......Page 494 L......Page 495 P......Page 496 R......Page 497 V......Page 498 Z......Page 499