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(2008, 1800 words)
The paper examines theoretical approaches to investment in financial markets with the focus on behavioral finance (BF). Definitions of BF are given; considerations associated with portfolio investment decision are analyzed providing a reflection on the behavior of financial markets.
(2006, 2000 words)
The paper reports on the launch of a Starbucks outlet in Los Angeles analysing the costs and benefits of the project, identifying its uncertainties and sensitivities, calculating the payback period, net present value (NPV), internal rate of return (IRR), etc. Economic, environmental and social factors that may affect the implementation of the project are outlined.
(2006, 10 Slides with comments,)
Firstly we will look at what are the main types or methods of investment appraisal employed by organisation, and what is available in literature. Indeed it is important to point out that the information being presented to you today is taken from literature on Managing Finance. Secondly we will asses the relative advantages and disadvantages of each of the methods, you will see that the methods vary in sophistication and practicality. Finally I will briefly touch on how it is that organisations may use and/or treat these investment appraisal methods in reality when they are assessing the viability of projects. And finally I will finish off with a conclusion.
(2006, 3000 words)
The paper focuses on three strategically defined areas of corporate financial decision making- the investment decision, the finance decision and the dividend decision. With respect to this, the assignment is drawn in the context of addressing appropriate investment appraisal and valuation methods used in the decision making processes. The core topics referred to while preparing the assignment are as follows: Debate about Capital Structure and corporate Valuation; The adjusted Present Value; Net Present Value: A Review of the Investment Decision Rule; Real Options
(2006, 2500 words)
The paper examines the methods of investment appraisal including the payback, the ARR (accounting rate of return), discounted cash-flow measures, the NPV (net present value), the IRR (internal rate of return), etc. Risk factors within the project appraisal are reviewed.
(2004, 2500 words)
The paper examines the problems of investment appraisal (IA) discussing the relationship between income and cost and describing IA methods, i.e. accounting rate of return (ARR), payback period, discounted payback, net present value (NPV), internal rate of return (IRR), etc. Each IA method is illustrated with examples and evaluated.
(2004, 1500 words)
The paper addresses the issues of health eating describing the products of the US company Weight Watchers and assessing the effectiveness of investing in the franchise of Weight Watchers Bistro in London. The marketing and financial aspects of the project are discussed including the target audience, budgeting, contacts, etc.
(2006, 4000 words)
The paper assesses the opportunity of investment in the Connaught goldmine for Holborn Investments providing the description of the mine, developing an Excel model for simulating the generation of profit for the period of the lease and evaluating the financial performance of the mine in 20 years’ time.
(2006, 3500 words)
The paper examines the economic viability of investment in Dixon house offering the description of the property and constructing an excel model for assessing the feasibility of purchasing it. The strategy of investment assessment is described; assumptions regarding the purchase price, purchase costs, annual rent, maintenance cost, cost of redevelopment, etc. are made. Hedging strategy is outlined; the testing of the best and worst scenarios of the project implementation is performed.
(2005, 2000 words)
The paper reports on the calculation of the cost of investment in the new machinery using the capital investment appraisal technique Payback Period and Internal Rate of Return (IRR). Literature on the theory of the payback method is reviewed highlighting benefits of the method and discussing if the current appraisal techniques are becoming out of date and the importance of the qualitative aspects of decision making in investment appraisal.
(2006, 3000 words)
The paper looks at the theory of cash flow management examining the appraisal methods of discounted cash flow (DCF) and focusing on the method of net present value (NPV). The benefits of NPV and the problems caused by DCF application in investment appraisal are discussed.
(2006, 1500 words)
The paper discusses the importance of the capital investment appraisal reviewing and critically evaluating its methods, i.e. the accounting rate of return (ARR), payback period (PP), new present value (NPV), etc. A survey on the use of investment evaluation methods in the UK is discussed.
(2006, 1200 words)
The following case is devoted to valuation of several investment proposals. The analysis is based on Net Present Value calculation.
(2006, 3500 words)
The article is written to explain the reasons and process of choosing between two risky assets A and B. In order to gain an overview of the relative knowledge for evaluating and decision making under uncertainty, a brief review of measures of risk and utility functions are introduced at first. Furthermore, the measures of risk discussed in the review are applied to evaluate the two risky assets with careful consideration of the impact of utility functions. Finally, the article concludes that which asset is better to choose and gives a recommendation that what an investor should be aware when evaluating risky assets in terms of risk preference.
(2005, 3000 words)
The paper examines investment appraisal tools reviewing the methods of payback period, accounting rate of return (ARR), discounted cash-flow (DCF) models including net present value (NPV) and internal rate of return (IRR), risk and uncertainty, effects of inflation, etc. Advantages and disadvantages of each appraisal method are outlined.
(2005, 5500 words)
This Project Proposal investigates investment decision techniques based on investment appraisal methods, i.e. Net Present Value (NPV) and the Real Option Approach (ROA) illustrating each of them with examples and pointing out their advantages and disadvantages over each other. The relationship between organizations investment decision failure and success, and managements perception of the two studied investment approaches are discussed on the basis of a literature review.
(2005, 4500 words)
The paper examines manufacturing activity in the USA; the factors that are considered by manufacturers in selecting location are reviewed focusing on the infrastructure investment. A conceptual model of the relationship between manufacturing, infrastructure and public investment is designed on the basis of empirical research showing the influence of infrastructure factors on manufacturing. Sensitivity analysis of the model is performed.
(2004, 1800 words)
This paper looks at the use of a) break-even analysis, b) sensitivity analysis, c) Monte Carlo simulation, d) decision trees in project analysis. From an initial point of identifying positive NPV projects, the use of the four techniques are discussed to identify areas where a project is likely to succeed beyond expectations, or areas that will cause a project to fail. Diagrams and examples are used for to bring clarity to the reader.
(2004, 1000 words)
The paper examines the project of starting a new nuclear power plant in the UK within the next two decades focusing on the appraisal of the projects future costs and benefits by discounting, or converting them to present values. Forms of discount rates are outlined and compared; the uncertainty of future discount rates is argued; the best discounting rate is suggested.
(2005, 1500 words)
The paper discusses the advance of technologies utilising computer-based information and control systems. The benefits of the advanced manufacturing technology (AMT) are outlined; the problems of appraising AMT investment are highlighted; alternative models of investment appraisal are discussed.
(2005, 2000 words)
The paper investigates the investment techniques of asset allocation in pension funds highlighting the risks and constraints of a pension funds investment policy, and the ways to determine optimal asset allocation.
(2005, 1200 words)
In this paper the investment analysis of the introduction of the new project is implemented. Various measures of investment analysis of the project are used to decide on the suitability of the project: NPV, IRR, Payback period. The general advantages and drawbacks of these investment tools are scrutinized. Since the information about a new project is presented from the accounting point of view necessary corrections are made to obtain actual cash flows expected from the project. As a result the project is shown to have negative NPV and IRR. However, these unfavorable outcomes are due to the adverse effects of the project on the current aspects of the business. When the strategic point of view is considered the project presents high positive levels of NPV and IRR. Therefore, this paper shows that analysis of the project should not only include traditional investment instruments but also the strategic considerations. This paper may be useful for students doing project analysis since it highlights all necessary steps in the scrutiny of a new project. Spreadsheet to the project may be also available.
(2005, 1800 words)
The paper contains feasibility analysis of an investment project using NPV, ARR and payback period. We also provide some explanation relating to the uses and minuses of the methods chosen for the analysis. All calculations are provided with a spare Excel file.
(2005, 2000 words)
This paper elaborates on the investment decisions in international context complicated by fluctuations in the exchange rates and turbulent political regimes. The scenario approach is used to allow for different outcomes depending on the behavior of the exchange rate and different tax regimes. Traditional measures of investment performance, NPV, IRR, payback period, are used to make comprehensive analysis of the establishing business in the foreign country. All calculations are clear and follow from the tables and figures helping visually assess the investment project. Theoretical questions of changing the required rate of return when borrowing are also considered. In the end the author provides analysis of the situation when the parent company wants to divest the subsidiary. Finally, brief overview of party theories with regard to the global economy is accomplished. Excel files are also available with that paper. This work would be indispensable for students evaluating international investment projects with traditional investment project analysis tools.
(2005, 1200 words)
The paper explains the four main methods of investment analysis: ARR, NPV, IRR and payback period. It explains the main characteristics of the methods, its advantages and disadvantages.
(2005, 1800 words)
This work is an investment decision analysis. We compare two investment projects by its NPV, ARR, payback period and doing its feasibility study. The excel file with calculation is provided and helps to grasp the way of such analysis doing. The analysis is done for a company producing disposable razors for men. The company has ? 2.5 million to invest and is deciding whether to invest it in new equipment producing women razors with further advertising of the new product, or start producing more two-blade razors instead one-blade and spend all the money on advertising company.
(2003, 2000 words)
The paper examines the ways of valuing managerial flexibility using the methods of Decision Tree analysis and option-pricing models (real options). The significance of Decision Trees (DTA) and Real Options (RO) in strategic investments is illustrated and supported by references to the works by Magee, Borison & Trinatis, Damodaran, Trigeorgis, etc. The author concludes that DTA and RO are strategic valuation tools in financial management superior to the Net Present Value (NPV) method.
(2004, 1200 words)
The paper provides a summary of benefits and limitations of different investment appraisal techniques (Payback Period; ARR; NPV; IRR; PV Ratios) and basing on the provided summary and International Survey Data the paper discusses whether NPV is a technically superior techniques among other investment appraisals
(2003, 2400 words)
This essay discusses the popular NPV (Net Present Value) technique for assessing projects. The NPV technique is outlined. Alternatives are then discussed. The essay then argues that despite being widely held in high regard, the NPV technique is fatally flawed for a number of reasons. With the use of examples, the essay demonstrates exactly why this is the case. The technique fundamentally breaks down when risk and uncertainty is incorporated, and when consideration to agency relationships is given.
(2004, 1300 words)
The paper analyses the advantages and disadvantages of investment appraisal techniques such as: Payback Method; ARR/EAR Method; NPV Method; IRR Method and compares different countries that adapt different methods: UK; US; and Japan
(2004, 1100 words)
The paper discusses evaluates the claim that net present value is "technically" the most superior investment appraisal criterion against survey data that shows that this may only hold true in the United States.
(2004, 1900 words)
In evaluating investment in projects and in companies we use models based on straight forward compounding and discounting concepts, in particular NPV "net present value" and "Gordon's dividend growth" model. The paper evaluates the particularities of these models
(2004, 1050 words)
The paper defines and discusses advantages and disadvantages of the different investment appraisal techniques such as: Payback, ARR, EAR, IRR, NPV, and briefly compares UK and Japan in term of investment appraisal techniques used in these countries
(2004, 1550 words)
The paper discusses the advantages and disadvantages of different investment appraisal techniques: Payback Periods, Accounting Rate of Return (ARR), Net Present Value (NPV), Internal Rate of Return (IRR) and Profitability Index with numerical examples.
(2004, 17000 words)
This dissertation investigates the nowadays topical and innovative subject whether the Physical Asset Valuation Methodologies used in Energy and Utilities industry influence the Capital Investment Decision - Making. There is a growing popularity of the Market Approach Valuation Methodologies application in the Industry, like Replacement Cost and Deprival Value based Methodologies, yet the traditional Discounted Cash Flow and Net Present Value Methodologies have still being applied in the unregulated markets. Three of those Market approach Methodologies are subjects to detailed scrutiny in this research, which are: Depreciated Optimised Replacement Cost (DORC), Economic Value (EV) and Deprival Optimised Value (ODV). The reason of considering those Methodologies is that regulators have actively been promoting them, yet the Asset Valuators and the company stakeholders are still unsure about the proper value of the Methodologies. Therefore, when determining whether those Methodologies influence the Investment Decision - Making it's also being tried to find out, which of those Methodologies is most likely to give a more accurate valuation result.
The main objectives of this research are originally to manage the physical asset at the companies within Industry in the way to achieve its main goal - add a value to the company, and the Valuation Methodologies is the part of the Asset Management Planning. The theoretical concepts relating to the issue are considered and the empirical analysis - made. The Quantitative approach survey is performed with practitioners in the asset valuation and academics. The survey demonstrates a support for value of the Market Approach Valuation Methodologies because the Valuation Methodologies definitely influence the Investment Decision - Making and the Market approach ones give more accurate asset valuation results. Albeit the three Methodologies observed (DORC, EV and ODV) have closely equal advantages though. This research is one of the original points for further researches into the Asset Valuation Methodologies in relation to the Asset Management Planning in Energy and Utilities Industry area.
(2003, 2500 words)
The paper analyses the mechanisms available to venture capital firms and LBO Associations to monitor investees
(2003, 2200 words)
The paper provides strong theoretical backgrounds on the different
investment appraisals. The paper outlines main advantages and disadvantages of
following investment appraisals techniques: NPV (Net Present Value), IRR
(Internal Rate of Return), and PI (Profitability Index) with different
examples
(2003, 1700 words)
One cannot conclude that real options method can replace the NPV or Discounted Cash flow method. Brealey R and Myers S (2000) argue that the starting point in most real option analysis is the present value of an underlying asset and to value an underlying asset, DCF has to be used. They go on to say that real options are not traded assets, instead through real options we get a value at which it can be traded. Both the methods in some aspects go hand in hand depending on the specifics the user is trying to achieve.
(2004, 3000 words)
(2003, 2500 words)
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