Financial Resources Formulary - Versionsgeschichte

Wikimeister: /* Exercises */

2012-05-14T09:08:47Z

Exercises

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	== Exercises ==		== Exercises ==
	Please try our [[Financial Exercises]] or have a look at our [[Investition\|investment pages]].<br/>		Please try our [[Financial Exercises]] or have a look at the [[Financial Ratios]] or at our [[Investition\|investment pages]].<br/>

Wikimeister: /* Exercises */

2012-01-14T17:47:07Z

Exercises

← Nächstältere Version		Version vom 14. Januar 2012, 19:47 Uhr
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	== Exercises ==		== Exercises ==
	Please try our [[Financial Exercises]].<br/>		Please try our [[Financial Exercises]] or have a look at our [[Investition\|investment pages]].<br/>

Wikimeister: /* Valuing stocks */

2012-01-04T20:54:21Z

Valuing stocks

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	* '''Stock price P<sub>0</sub> in the single-period case:''' [[Datei:Form_P0_einperiodig.png]]		* '''Stock price P<sub>0</sub> in the single-period case:''' [[Datei:Form_P0_einperiodig.png]]

	* '''Dividend discount model''' for the stock price P0 in the multi-period case until time horizon H: [[Datei:~~Form_P0_mehrperiodig~~.png]]		* '''Dividend discount model''' for the stock price P0 in the multi-period case until time horizon H: [[Datei:cw_DDM_v2.png]]

	* '''Stock price P<sub>0</sub>''' with specific dividends until time horizon H and growing dividends after H: [[Datei:Form_P0_growth.png]]		* '''Stock price P<sub>0</sub>''' with specific dividends until time horizon H and growing dividends after H: [[Datei:Form_P0_growth.png]]

Wikimeister: /* Exercises */

2012-01-02T15:07:44Z

Exercises

← Nächstältere Version		Version vom 2. Januar 2012, 17:07 Uhr
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	== Exercises ==		== Exercises ==
	[[Financial Exercises ~~1: Discounting and compounding]]<br/>~~		Please try our [[Financial Exercises]].<br/>
	~~[[Financial Exercises 2: PV and Annuity]]<br/>~~
	~~[[Financial Exercises 3: NPV and IRR~~]]<br/>

Wikimeister: /* Exercises */

2012-01-02T14:56:40Z

Exercises

← Nächstältere Version		Version vom 2. Januar 2012, 16:56 Uhr
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	== Exercises ==		== Exercises ==
	[[Financial Exercises 1: ~~Calculations of interest~~]]<br/>		[[Financial Exercises 1: Discounting and compounding]]<br/>
	[[Financial Exercises 2: PV and NPV]]<br/>		[[Financial Exercises 2: PV and Annuity]]<br/>
			[[Financial Exercises 3: NPV and IRR]]<br/>

Wikimeister am 30. Dezember 2011 um 15:57 Uhr

2011-12-30T15:57:42Z

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	:- EAR for a daily rate d: EAR = (1+d)<sup>360</sup> – 1 (for 360 days per year)		:- EAR for a daily rate d: EAR = (1+d)<sup>360</sup> – 1 (for 360 days per year)

			Given an annual percentage rate (APR) of r, the corresponding EAR with respect to n shorter periods of equal length is: [[Datei:Form_EAR.png]]

			'''Effective annual rate with continuous compounding:''' effective annual rate for n → ∞ shorter periods: [[Datei:Form_EAR_cc.png]] (being r the simple annual rate)

	'''Annual percentage rate (APR) or simple rate:''' annualized rate of shorter period interest rates (monthly, daily rates) using simple interest.		'''Annual percentage rate (APR) or simple rate:''' annualized rate of shorter period interest rates (monthly, daily rates) using simple interest.

	:- APR for a monthly rate m: APR = 12 * m		:- APR for a monthly rate m: APR = 12 * m

	~~Given an annual percentage rate (APR) of r, the corresponding EAR with respect to n shorter periods of equal length is: [[Datei:Form_EAR.png]]~~

	~~'''Effective annual rate with continuous compounding:''' effective annual rate for n → ∞ shorter periods: [[Datei:Form_EAR_cc.png]] (being r the simple annual rate)~~

	'''Real rate of return:''' rate of return adjusted for inflation: [[Datei:Form_Real_Int_1.png]]		'''Real rate of return:''' rate of return adjusted for inflation: [[Datei:Form_Real_Int_1.png]]
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	'''Leverage-formula''' for equity beta: risk increases with debt/equity-ratio: [[Datei:Form_Leverage_Beta.png]]		'''Leverage-formula''' for equity beta: risk increases with debt/equity-ratio: [[Datei:Form_Leverage_Beta.png]]


			== Exercises ==
			[[Financial Exercises 1: Calculations of interest]]<br/>
			[[Financial Exercises 2: PV and NPV]]<br/>

Wikimeister: /* Present values, perpetuities and annuities */

2011-12-20T20:11:21Z

Present values, perpetuities and annuities

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	'''Profitability index:''' ratio of NPV to investment of a project: [[Datei:Form_PI.png]]		'''Profitability index:''' ratio of NPV to investment of a project: [[Datei:Form_PI.png]]

	'''Equivalent annual cash flow (EAC):''' cash flow per year with the same present value as the actual cash flow of the project: [[Datei:~~Form_EAC~~.png]]		'''Equivalent annual cash flow (EAC):''' cash flow per year with the same present value as the actual cash flow of the project: [[Datei:cw_EAC.png]]

	== Interest and discount rates ==		== Interest and discount rates ==

Wikimeister: /* Risk and return */

2011-12-20T20:10:30Z

Risk and return

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	'''Variance of portfolio return (portfolio variance)''' in the case of n assets: [[Datei:Form_Port_Var_n.png]]		'''Variance of portfolio return (portfolio variance)''' in the case of n assets: [[Datei:Form_Port_Var_n.png]]

			'''Sharpe-Ratio: ratio of risk premium to risk (standard deviation): [[Datei:cw_Sharpe_ratio.png]]

	'''Beta''' of the return of asset j to the market return (return of market portfolio m): [[Datei:Form_Beta.png]]		'''Beta''' of the return of asset j to the market return (return of market portfolio m): [[Datei:Form_Beta.png]]
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	Expected return of a stock in '''event studies''': [[Datei:Form_Normal_Return.png]]		Expected return of a stock in '''event studies''': [[Datei:Form_Normal_Return.png]]

	'''Abnormal return''' = actual return – expected return = [[Datei:Form_Abnormal.png]]		'''Abnormal return''' = actual return – expected return = [[Datei:Form_Abnormal.png]]




	== Capital Structure and Return ==		== Capital Structure and Return ==

Wikimeister: /* Valuing stocks */

2011-12-20T20:07:14Z

Valuing stocks

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	'''(Expected) [[Wertpapierrendite\|Stock return r]] (equity cost of capital):''' [[Datei:Form_Stock_Return.png]]		'''(Expected) [[Wertpapierrendite\|Stock return r]] (equity cost of capital):''' [[Datei:Form_Stock_Return.png]]

	'''Stock price P<sub>0</sub> in the single-period case:''' [[Datei:Form_P0_einperiodig.png]]		* '''Stock price P<sub>0</sub> in the single-period case:''' [[Datei:Form_P0_einperiodig.png]]

	'''Dividend discount model''' for the stock price P0 in the multi-period case until time horizon H: [[Datei:Form_P0_mehrperiodig.png]]		* '''Dividend discount model''' for the stock price P0 in the multi-period case until time horizon H: [[Datei:Form_P0_mehrperiodig.png]]

	'''Stock price P<sub>0</sub>''' with specific dividends until time horizon H and growing dividends after H: [[Datei:Form_P0_growth.png]]		* '''Stock price P<sub>0</sub>''' with specific dividends until time horizon H and growing dividends after H: [[Datei:Form_P0_growth.png]]

	'''Stock price for a perpetual stream of dividends:''' [[Datei:Form_P0_perpetual.png]]		* '''Stock price for a perpetual stream of dividends:''' [[Datei:Form_P0_perpetual.png]]

	'''Stock price for a perpetual stream of growing dividends:''' [[Datei:Form_P0_perp_growth.png]]		* '''Stock price for a perpetual stream of growing dividends:''' [[Datei:Form_P0_perp_growth.png]]

			* '''Stock price = Discounted earnings + growth opportunities:''' [[Datei:Cw_PVGO.png]]


			'''Present value of growth opportunities (PVGO):''' net present value of a firm's future investments.

	'''Return (Equity cost of capital) of a perpetual stream of dividends with growth:''' [[Datei:Form_RoE_growth.png]]		'''Return (Equity cost of capital) of a perpetual stream of dividends with growth:''' [[Datei:Form_RoE_growth.png]]
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	'''Plowback ratio:''' fraction of earnings retained by the firm: [[Datei:Form_Plowback.png]]		'''Plowback ratio:''' fraction of earnings retained by the firm: [[Datei:Form_Plowback.png]]

	~~'''Present value of growth opportunities (PVGO):''' net present value of a firm's future investments.~~

	'''Sustainable growth rate:''' rate at which a firm can steadily grow: [[Datei:Form_Sustainable.png]]		'''Sustainable growth rate:''' rate at which a firm can steadily grow: [[Datei:Form_Sustainable.png]]

	'''[[Kapitalwert\|Discounted cash flow]] (DCF):''' value of the free cash flows that are available to investors plus company value at the planning horizon, all discounted to present: [[Datei:Form_DCF.png]]		'''[[Kapitalwert\|Discounted cash flow]] (DCF):''' value of the free cash flows that are available to investors plus company value at the planning horizon, all discounted to present: [[Datei:Form_DCF.png]]


	== Risk and return ==		== Risk and return ==

Wikimeister: /* Present values, perpetuities and annuities */

2011-12-04T12:52:07Z

Present values, perpetuities and annuities

← Nächstältere Version		Version vom 4. Dezember 2011, 14:52 Uhr
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	== Present values, perpetuities and annuities ==		== Present values, perpetuities and annuities ==

	'''Present value PV:''' value of a future payment C<sub>t</sub> (in year t), discounted to year 0: [[Datei:~~Form_FV~~.png]]		'''Present value PV:''' value of a future payment C<sub>t</sub> (in year t), discounted to year 0: [[Datei:Form_PV.png]]

	'''Future value FV<sub>t</sub>:''' value of a present payment (in year 0), calculated by compounding to year t: [[Datei:~~Form_PV~~.png]]<br/>		'''Future value FV<sub>t</sub>:''' value of a present payment (in year 0), calculated by compounding to year t: [[Datei:Form_FV.png]]<br/>
	: t year<br/>		: t year<br/>
	: r [[Kalkulationszinssatz\|discount rate]] (interest rate)<br/>		: r [[Kalkulationszinssatz\|discount rate]] (interest rate)<br/>
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	'''Equivalent annual cash flow (EAC):''' cash flow per year with the same present value as the actual cash flow of the project: [[Datei:Form_EAC.png]]		'''Equivalent annual cash flow (EAC):''' cash flow per year with the same present value as the actual cash flow of the project: [[Datei:Form_EAC.png]]



	== Interest and discount rates ==		== Interest and discount rates ==