Welcome to the Web site for Applied Corporate Finance: A User's Manual, 2e by Aswath Damodaran. This Web site gives you access to the rich tools and resources available for this text. You can access these resources in two ways: Using the menu at the top, select a chapter. A list of resources available for that particular chapter will be provided. Applied Corporate Finance provides a user's perspective to corporate finance, by posing the three major questions that every business has to answer, and then providing the tools and the analytical techniques needed to answer them.
- Applied Corporate Finance A User's Manual - Third Edition Pdf
- Applied Corporate Finance A User's Manual Pdf
This web site is designed to support the fourth edition of 'Applied Corporate Finance: A User's Manual'. The publisher is John Wiley and Sons. You can navigate the site by either going to individual chapters and getting supporting material by chapter, or by going to the supporting material directly. The supporting material include:
- Chapter Outlines and overheads: These are saved as pdf files, and you need Adobe Acrobat to read them. You can download Adobe Acrobat by going to the Adobe site. (www.adobe.com) The overheads are categorized by topic, rather than chapter. To go to overheads, click here.
- Answers to Concept Questions : These are the answers to the concept checks in the chapters. The concept checks are categorized by chapter, and specify the concept check number in the chapter.
- Derivations and Discussion: These represent interesting questions that often come up in the context of the specified topic, with discussions and analyses.
- Readings: These are readings from business and academic publications that supplement the specific topic.
- Solutions: This portion of the site is accessible only to instructors, with a password. If you are reading the book on your own, you can email me at [email protected] and I will supply you with the password.
- Illustrations: The excel spreadsheets and background numbers backing up every illustration in the book can be downloaded. You can use them to check where the numbers come from but also to change the inputs and examine how the output changes.
- Powerpoint Presentations: These are power point presentations that are designed for use by instructors. You will need the password to download these as well.
- Spreadsheets: These are spreadsheets that supplement the topic. They are in Microsoft Excel format, and can be used on either a Mac or Windows system.
- Datasets: These are useful datasets to supplement each chapter. They generally include industry averages for key variables and represent updates on many of the tables in the book.
- Real Companies, Real Time: This allows you to apply the concepts in this chapter applied to a specific company.
- In-practice Webcasts: These webcasts are designed to support the book, both with concepts in in-practice applications.
You can read the preface to the book by clicking here. If you have the first edition of the book, go here; if you own the second, go here instead; if you own the third edition, try this. If you are an instructor using this book, please click here.
I have also created an online class, composed of webcasts and supporting material, to accompany the book. Black and decker crisp n bake user manual. You can access the class in one of three ways:
Corporate finance (Corporate Finance:Theory and Practice, Applied Corporate. Finance: A User's Manual). Applied corporate finance a user's manual www murchunga www ojp usdoj gov bjs pub pdf special need trust administration manual a guide for trustee. ISBN: 640 Applied Corporate Finance a User's Manual 3E by Damodaran, Aswath.Published by J Currency: All of our listings are in New Zealand Dollars. Applied Corporate Finance: A User's Manual by Aswath Damodaran. Spine creases, wear to binding and pages from reading. May contain limited notes, underlining or highlighting that does affect the text. Possible ex library copy, that’ll have the markings and stickers associated from the library. Accessories such as CD, codes, toys, may not be included. FINANCE 7TH EDITION SOLUTIONS MANUAL 8 Journal of Applied Corporate Finance Volume 21 Number 4 A Morgan Stanley. Of Valuation, The Little Book of Valuation), and two on corporate finance (Corporate Finance:Theory and Practice, Applied Corporate. Finance: A User's Manual). Applied corporate finance a user's manual www murchunga www ojp usdoj.
- Online (on my site): I lay out the structure for the class, with links to the webcasts (on You Tube), slides and post-class tests for each session.
- Apple iTunes U: If you have an Apple device or an Android device with the right app, you can take the class on iTunes U.
- You Tube: If you want just the webcasts, this playlist has all of the lectures.
Chapter 1 | Chapter 2 | Chapter 3 | Chapter 4 | Chapter 5 | Chapter 6 |
Chapter 7 | Chapter 8 | Chapter 9 | Chapter 10 | Chapter 11 | Chapter 12 |
Spreadsheets | Overheads | Datasets | References |
Solutions | Derivations and Discussion | Live Case Study | Powerpoint Presentations (instructors only) |
Readings | In-Practice Webcasts | Online Class |
Download as pdf file | |
Companies: Background | |
| |
Companies: Bloomberg Description |
|
Webcasts |
Overheads | Download as pdf file |
Illustrations | 2.1: Assessing Disney’s Corporate Governance 2.2: Corporate Governance at Vale: Voting and Non-voting Shares, Golden Shares 2.3: Corporate Governance at Deutsche Bank: Multiple Boards 2.4: Corporate Governance at Tata Motors: Family Group Companies 2.5: Corporate Governance at Baidu: A Variable Interest Entity 2.6: Interaction with financial markets – A Case Study with Disney 2.7: Assessing Social Costs: Disney, Vale, Deutsche Bank, Baidu and Tata Motors 2.8: Restive Stockholders and Responsive Managers: The Disney Case |
Answers to Concept Questions | 2.1 - 2.10 |
Data Sets | |
Spreadsheets | |
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion | |
Readings |
|
Webcasts |
|
Live Case Study |
Overheads | Download as pdf file |
Illustrations | 3.1: Calculation of standard deviation using historical returns: Disney 3.2: Variance of a portfolio: Disney and Aracruz 3.3: Identifying the Marginal Investor |
Answers to Concept Questions | 3.1 - 3.6 |
Data Sets | |
Spreadsheets | |
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion | |
Readings |
|
Webcasts | Session 4: Hurdle Rates I: Defining and Measuring Risk |
Live Case Study & In-practice Webcast |
Overheads | Download as pdf file |
Illustrations | 4.1: Estimating Riskfree Rates 4.2: Estimating Equity Risk Premiums (Implied ERP on November 1, 2013, ERP for companies) 4.3: Estimating CAPM risk parameters for Disney and diagnostics 4.4: Regression Beta Diagnostics for Vale,Tata Motors,Baidu, and Deutsche Bank 4.5: Measuring Operating Leverage for Disney Corporation 4.6: Effects of Financial Leverage on betas: Disney 4.7: Bottom Up Beta for Disney 4.8: Bottom-up Beta for Bookscape Books 4.9: Bottom up Beta for Vale, Tata Motors & Baidu 4.10: Bottom Up Beta for Deutsche Bank 4.11: Beta of a Firm After an Acquisition: Disney / Capital Cities 4.12: Estimating Accounting Betas –– Bookscape Books 4.13: Estimating the Cost of Equity: Disney, Vale, Tata Motors, Deutsche Bank, Bookscape 4.14: Estimating the Cost of Debt. and synthetic ratings for Vale, Disney, Tata Motors, Baidu and Bookscape. 4.15: Calculating the Cost Of Preferred Stock: Disney and Deutsche Bank 4.16: Breaking down a convertible bond into debt and equity components: Disney 4.17: Market value and book value debt ratios 4.18: Estimating Cost of Capital: Disney, Vale, Tata Motors, Baidu, Deutsche Bank, Bookscape |
Answers to Concept Questions | 4.1 - 4.11 |
Data Sets | |
Spreadsheets | |
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion | Riskfree Rate Risk Premium Beta Cost of Debt Weights |
Readings |
|
Webcasts | |
Live Case Study |
Overheads | Download as pdf file |
Illustrations | 5.1: Project Descriptions – Disney, Vale, Tata Motors and Bookscape 5.2: Estimating hurdle rates for individual projects: Bookscape, Rio Disney, Vale Iron Ore, Tata acquisition 5.3: Dealing with Allocated Costs 5.4: Estimating Cash Flows for an On-line Book Ordering Service: Bookscape 5.5: Estimating Incremental Cash Flows: Disney Theme Park 5.6: Estimating Cash Flows to Equity for Iron Ore Mine: Vale 5.7: Estimating Cash Flows from an Acquisition: Harman Audio 5.8: Estimating and Using Return on Capital in Decision Making: Disney and Bookscape 5.9: Estimating Return on Equity - Vale 5.10: Estimating Payback for the Bookscape Online Service 5.11: NPV From The Firm’s Standpoint - Bookscape On-line 5.12: NPV From The Firm’s Standpoint - Disney’s Theme Park in Rio 5.13: NPV In R$- Disney’s Theme Park in Rio 5.14: NPV from the Equity Investors’ Standpoint- Iron Ore Mine for Vale 5.15: Valuing a company for an acquisition: Harman Audio 5.16: NPV Calculation With Time-Varying Discount Rates 5.17: Estimating the IRR based on FCFF - Disney Theme Park in Rio 5.18: Estimating IRR Based Upon FCFE - Vale 5.19: Multiple IRR Projects 5.20: Vale Paper Plant: Sensitivity Analysis and Breakeven 5.21: Rio Disney: Simulation |
Answers to Concept Questions | 5.1 - 5.13 |
Data Sets |
|
Spreadsheets | |
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion | |
Readings |
|
Webcasts | |
Live Case Study |
Applied Corporate Finance A User's Manual - Third Edition Pdf
Chapter 6: Estimating Side Costs and BenefitsOverheads | Download as pdf file |
Illustrations | 6.1: Using the profitability Index to Select Projects 6.2: Project Replication to compare projects with different lives 6.3: Equivalent Annuities To Choose Between Projects With Different Lives 6.4: Using Equivalent Annuities as a General Approach for Multiple Projects 6.5: Analyzing a Replacement Decision 6.6: Estimating the Opportunity Cost for a Resource with a Current Alternative Use 6.7: Cash Flow Synergies with Existing Projects 6.8: Valuing Synergy in a Merger: Harman Audio 6.9: Valuing a patent 6.10: Valuing an Option to Expand: Disney Entertainment 6.11: Valuing Disney’s option to abandon: A Real Estate Investment 6.12: Disney's California Adventure: Terminate, Continue or Expand? 6.13: Estimating CFROI for Tata Motors 6.14: Evaluating Current Investments 6.15: Excess Returns and Competitive Advantages |
Answers to Concept Questions | 6.1 - 6.11 |
Data Sets | |
Spreadsheets | |
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion | |
Readings | For more readings, click here. |
Webcasts | Session 16: Investment Returns III: Wrapping up loose ends |
Live Case Study |
Overheads | Download as pdf file |
Illustrations | 7.1: Financing Choices in 2008 – Disney, Vale, Baidu, Tata Motors & Bookscape 7.2: The Initial Public Offering for United Parcel Service 7.3: Valuing a Rights Offering –– Tech Temp Inc. 7.4: Evaluating the Debt Trade off – Disney, Vale, Baidu, Tata Motors & Bookscape |
Answers to Concept Questions | 7.1-7.16 |
Data Sets | |
Spreadsheets | |
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion | |
Readings | For more readings, click here. |
Webcasts | Session 17: Optimal Financing Mix I: The trade off |
Live Case Study |
Overheads | Download as pdf file |
Illustrations | 8.1: Estimating Debt Capacity Based Upon Operating Income Distribution: Disney 8.2: Analyzing the Capital Structure for Disney: November 2013 and with debt betas 8.3: Sensitivity Analysis on Disney’s Optimal Debt Ratio 8.4: Disney - Enhanced Cost of Capital Approach 8.5: Applying the Cost of Capital Approach with Normalized Operating Income to Vale 8.6: Applying the Cost of Capital Approach to Tata Motors 8.7: Applying the Cost of Capital Approach to Baidu 8.8: Applying the Cost of Capital Approach to a Private Firm: Bookscape 8.9: Deutsche Bank's Regulatory Capital 8.10: Using the Adjusted Present Value Approach to calculate Optimal Debt Ratio for Disney 8.11: Estimating Disney’s debt ratio using the cross sectional approach |
Answers to Concept Questions | 8.1-8.7 |
Data Sets |
|
Spreadsheets | |
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion | |
Readings | |
Webcasts | |
Live Case Study |
Overheads | Download as pdf file |
Illustrations | 9.1: Debt Capacity and Takeovers 9.2: Increasing financial leverage quickly: Nichols Research 9.3: Decreasing financial leverage quickly: Aracruz 9.4: Charting a Framework for Increasing Leverage: Disney 9.5: Decreasing Leverage gradually: Tata Motors 9.6: Calculating Duration for Disney Theme Park 9.7: Coming Up With The Financing Details: Disney with bottom-up estimate 9.8: Estimating the Right Financing Type for Vale, Tata Motors, Baidu and Bookscape |
Answers to Concept Questions | 9.1-9.10 |
Data Sets | |
Spreadsheets | |
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion | |
Readings |
|
Webcasts | |
Live Case Study |
Overheads | Download as pdf file |
Illustrations | 10.1: Dividends, Dividend Yields and Payout Ratios |
Answers to Concept Questions | 10.1-10.10 |
Data Sets | |
Spreadsheets | |
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion | For more readings, click here. |
Readings | For more readings, click here. |
Webcasts | |
Live Case Study |
Overheads | Download as pdf file |
Illustrations | 11.1: Dividends and Stock Buybacks: Disney, Vale, Tata Motors, Baidu, Bookscape & Deutsche 11.2: Estimating Free Cash Flows to Equity – Disney, Vale, Tata Motors, Baidu and Deutsche Bank 11.3: Comparing Dividend Payout Ratios to FCFE Payout Ratios: Disney, Vale, Tata Motors & Baidu 11.4: Evaluating Project Quality at Disney, Vale, Tata Motors & Baidu 11.5: Analyzing the Dividend Policy of Disney, Vale, Tata Motors & Baidu 11.6: Analyzing Dividend Policy using comparable firms 11.7: Analyzing Dividend Payout Using The Cross Sectional Regression |
Answers to Concept Questions | 11.1-11.7 |
Data Sets | |
Spreadsheets | |
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion | |
Readings | For more readings, click here. |
Webcasts | |
Live Case Study |
Overheads | Download as pdf file |
Illustrations | 12.1: Length of High Growth Period 12.2: Growth in Earnings per share: Deutsche Bank in early '08 12.3: Valuing equity using the Dividend Discount Model: Deutsche Bank in January 2008 12.4: Valuing Equity in unsettled times: Deutsche Bank in 2013 12.5: Estimating Growth Rate in Net Income 12.6: FCFE Valuation: Tata Motors 12.7: Estimating Growth Rate in Operating Income - Disney 12.8: Estimating operating income & cash flows with changing margins: Baidu 12.9: Cost of capital - Disney 12.10: Valuing a mature firm: Vale 12.11: Stable Growth Inputs and Transition Period - Disney 12.12: Value of Non-Operating Assets at Disney 12.13: Value of Equity Options 12.14: FCFF Valuation: Disney 12.15: Valuing a Private Business: Bookscape 12.16: Value Enhancement at Disney 12.17: Comparing PE ratios and growth rates across firms: Entertainment companies 12.18: Price to Book Value Ratios and Return on Equity: European Banks 12.19: Applying Market Regression to Estimate Multiples - Disney 12.20: Valuing Equity as an Option 12.21: Firm Value and Equity Value 12.22: Equity Value and Volatility 12.23: Probabilities of Default and Default Spreads |
Answers to Concept Questions | 12.1-12.12 |
Data Sets |
|
Spreadsheets |
|
Problems and Solutions | Download the problems and solutions |
Derivations, In-Practice Questions and Discussion |
|
Readings | For more readings, click here. |
Webcasts |
|
Live Case Study | Valuing a Firm In-practice webcast: Valuing a business (firm) |
Overheads
The Big Picture | Measuring Returns on Investments | Designing Debt | 1. Basics of statistics |
The Objective of the Firm | Side costs and benefits | Dividend Policy: Theory | 2. Accounting 101 |
Models for Risk and Return | Capital Structure: The Choices | Dividend Assessment | 3. Time value of money |
Estimating Hurdle Rates | The Optimal Financing Mix | Valuation | 4. Basics of option pricing |
Solutions
Chapter 1 | Chapter 2 | Chapter 3 | Chapter 4 | Chapter 5 | Chapter 6 |
Chapter 7 | Chapter 8 | Chapter 9 | Chapter 10 | Chapter 11 | Chapter 12 |
Derivations and Discussion
General | The Objective of the Firm | Basics of Risk | Appplying Risk and Return Models | Measuring Returns | Side Costs, Benefits and Options in Projects |
Choices in Financing | The Optimal Debt Ratio | Moving to the Optimal | Dividend Policy: Trade Offs | Dividend Analysis | Valuation |
Born | Aswath Damodaran |
---|---|
Residence | New York City, United States |
Nationality | Indian |
Alma mater | Loyola College, Chennai (B.Com.) IIM Bangalore (MS in Management) UCLA Anderson School of Management (M.B.A. & Ph.D.) |
Occupation | Professor |
Employer | New York University Stern School of Business |
Known for | Finance and Investment research |
Awards | Richard L. Rosenthal Award for Innovation in Investment Management and Corporate Finance Herbert Simon Award |
Website | Damodaran Online·blog |
Aswath Damodaran, sometimes known as the 'Dean of Valuation,' is a Professor of Finance at the Stern School of Business at New York University (Kerschner Family Chair in Finance Education), where he teaches corporate finance and equity valuation. He is best known as author of several widely used academic and practitioner texts on Valuation, Corporate Finance and Investment Management; he is widely quoted on the subject of valuation, with 'a great reputation as a teacher and authority'.[1] He has written several books on equity valuation, as well on corporate finance and investments.[2] He is widely published in leading journals of finance, including The Journal of Financial and Quantitative Analysis, The Journal of Finance, The Journal of Financial Economics and the Review of Financial Studies.[3] He is also known as being a resource on valuation and analysis to investment banks on Wall Street.
Prior to joining NYU, he served as visiting lecturer at the University of California, Berkeley from 1984 to 1986. He was profiled in Business Week as one of the top 12 U.S. business school professors; he has also received awards for excellence in teaching from both universities.[2] Damodaran also teaches on the TRIUM Global Executive MBA Program, an alliance of NYU Stern, the London School of Economics and HEC School of Management,[4] and for the Master of Science in Global Finance (MSGF), which is a joint program between Stern and the Hong Kong University of Science and Technology.[5] He also teaches the 'Valuation' Open Enrollment program for Stern Executive Education.[6] Widely recognized for his online contribution in the world of valuation, Damodaran also teaches on the 'Advanced Valuation' and 'Corporate Finance' online certificates at NYU Stern.
Damodaran holds M.B.A. and Ph.D. degrees from the UCLA Anderson, along with a B.Com. Canon 7d user manual download pdf. in Accounting from Loyola College, Chennai and an MS from the Indian Institute of Management Bangalore.[2][7]
Works[edit]
Applied Corporate Finance A User's Manual Pdf
- Applied Corporate Finance
- Damodaran on Valuation: Security Analysis for Investment and Corporate Finance (1994)
- Damodaran on Valuation, Study Guide: Security Analysis for Investment and Corporate Finance (1994)
- Investment Valuation: Tools and Techniques for Determining the Value of Any Asset (1995)
- Corporate Finance: Theory and Practice (1996)
- Corporate Finance: Theory & Practice Test Bank (1997)
- Corporate Finance, Study Guide and Problems Manual: Theory and Practice (1997)
- Applied Corporate Finance: A User's Manual (1998)
- The Dark Side of Valuation: Valuing Old Tech, New Tech, and New Economy Companies (2001)
- The Analysis and Use of Financial Statements 3rd Edition (2002)
- Building Public Trust: The Future of Corporate Reporting (2002)
- Core Concepts of Applied Corporate Finance (2003)
- Caliber Course Using Corporate Finance, 2nd Edition (2003)
- Investment Philosophies: Successful Strategies and the Investors Who Made Them Work (2003)
- Investment Philosophies: Successful Investment Philosophies and the Greatest Investors Who Made Them Work (2003)
- Investment Fables: Exposing the Myths of 'Can't Miss' Investment Strategies (2004)
- Valuation Approaches and Metrics: A Survey of the Theory and Evidence (2005)
- Foundations and Trends: Valuation Approaches and Metrics: A Survey of the Theory and Evidence (2005)
- Strategic Risk Taking: A Framework For Risk Management (2007)
- The Little Book of Valuation: How to Value a Company, Pick a Stock and Profit (2011)
- Investment Valuation: Tools And Techniques For Determining The Value Of Any Asset, 3rd Edition (2012)
- Applied Corporate Finance (ACF), 4th Edition (2014)
- Narrative and Numbers: The Value of Stories in Business(2017)
References[edit]
- ^qfinance.comArchived September 11, 2010, at the Wayback Machine
- ^ abcAswath Damodaran IIM BangaloreArchived May 2, 2011, at the Wayback Machine
- ^Bio and Mission
- ^TRIUM Global Executive MBA Program
- ^Master of Science in Global FinanceArchived 2009-04-05 at the Wayback Machine
- ^Stern Executive Education
- ^Gill, Tanvir (2017-06-27). 'Valuation guru Damodaran says he's no Aswath; for him 3 most freeing words are 'I was wrong''. The Economic Times. Retrieved 2019-07-27.
External links[edit]
Retrieved from 'https://en.wikipedia.org/w/index.php?title=Aswath_Damodaran&oldid=923029474'