Pablo Fernández, Javier Aguirreamalloa, Luis Corres Avendaño
{"title":"Equity Premium Used in 2011 for the USA by Analysts, Companies and Professors: A Survey","authors":"Pablo Fernández, Javier Aguirreamalloa, Luis Corres Avendaño","doi":"10.2139/SSRN.1898172","DOIUrl":"https://doi.org/10.2139/SSRN.1898172","url":null,"abstract":"The average Market Risk Premium (MRP) used in 2011 by professors for the USA (5.7%) is higher than the one used by analysts (5.0%) and companies (5.6%). The standard deviation of the MRP used in 2011 by analysts (1.1%) is lower than the ones of companies (2.0%) and professors (1.6%). Most previous surveys have been interested in the Expected MRP, but this survey asks about the Required MRP. The paper also contains the references used to justify the MRP, comments from 58 persons that do not use MRP, and comments of 110 that do use MRP. The comments illustrate the various interpretations of the required MRP and its usefulness. Professors, analysts and companies that cite Ibbotson as their reference use MRP for USA between 2% and 14.5%, and the ones that cite Damodaran as their reference use MRP between 2% and 10.8%.","PeriodicalId":373500,"journal":{"name":"EduRN: Financial Economics Education (FEN) (Topic)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134455785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Global Corporate Finance: A Focused Approach","authors":"Kenneth A. Kim","doi":"10.1142/8052","DOIUrl":"https://doi.org/10.1142/8052","url":null,"abstract":"Global Corporate Finance: A Focused Approach introduces students to basic principles of international corporate finance. The book stresses practical applications in a user-friendly format and is hence suitable for both undergraduate and graduate level courses in international finance. A self-contained book combining theory and applications, the text can be used in any part of the world as it takes a global viewpoint. Students will be exposed to key tools and techniques of global corporate finance without a complex treatment of theoretical financial concepts. A test bank and powerpoint slides are available upon request for all instructors who adopt this book as a course text. Please send your request to sales@wspc.com .","PeriodicalId":373500,"journal":{"name":"EduRN: Financial Economics Education (FEN) (Topic)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116812347","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Using Item Set Exams to Assess Higher Order Learning in a Corporate Finance Course","authors":"J. Stowe, P. Young","doi":"10.2139/SSRN.1174143","DOIUrl":"https://doi.org/10.2139/SSRN.1174143","url":null,"abstract":"Although the item set exam format is used extensively in professional certification exams, it has not been widely adopted in academia. The item set exam can be viewed as an alternative to multiple choice exams or essay exams, sharing some of the strengths and weaknesses of both formats. An item set essentially is a minicase, a short written case followed by several multiple choice questions (items) based on the case. This paper describes some of the practical issues a professor will confront in developing and using effective item sets. To be concrete, we provide several examples of item sets that might be suitable to use in an undergraduate or beginning MBA corporate finance course.","PeriodicalId":373500,"journal":{"name":"EduRN: Financial Economics Education (FEN) (Topic)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125055747","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Time Value of Money TVM (Slides)","authors":"Ignacio Vélez-Pareja","doi":"10.2139/ssrn.1679557","DOIUrl":"https://doi.org/10.2139/ssrn.1679557","url":null,"abstract":"In this second chapter we deal with the Basic concept in Finance: the time value of Money. A dollar today is worth more than a dollar tomorrow. This concept allows us to find equivalent amounts of Money in different periods of time. This will enable us to compare different cash flow profiles. In the last part of the chapter we study the different structures of a debt schedule. We use intensively the spreadsheet.","PeriodicalId":373500,"journal":{"name":"EduRN: Financial Economics Education (FEN) (Topic)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-01-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130491866","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Fast, Fast, Fast Printing: An Instructional Case Examining the Financial Close Process","authors":"Diane J. Janvrin","doi":"10.2139/ssrn.1740251","DOIUrl":"https://doi.org/10.2139/ssrn.1740251","url":null,"abstract":"This case examines the financial close process for a national print company called Fast, Fast, Fast (FFF) Printing. You are an assistant accountant for FFF Printing and are excited and ready for a wide variety of responsibilities. Each time you ask your supervisor, Controller Charlie Carr, about new duties, he replies that he will investigate new duties once he finishes up the financial close process. This assignment requires you and your teammates to develop methods to improve the financial close process. When your investigation is complete, you will present your written results to the Controller, including (1) current problems with the financial close process and (2) proposed solution(s).","PeriodicalId":373500,"journal":{"name":"EduRN: Financial Economics Education (FEN) (Topic)","volume":"74 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133023904","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Understanding Investment Management: The Problem of Content and Definition","authors":"J. Gatsi","doi":"10.2139/ssrn.1739787","DOIUrl":"https://doi.org/10.2139/ssrn.1739787","url":null,"abstract":"This is an overview of investment management course for level 400 students. This is to prepare them to be aware of what investment is about and what should be expected in the course. The paper addresses problems associated with definitions and content. Investment management instructors continue to argue among themselves whether to emphasise definitions at the start of the course or at a point when much information and explanation have been given. The paper projects a balanced approach that may ensure explanatory definitions and broad based content. The paper is therefore a guide to students to be able to focus from the beginning of the course.","PeriodicalId":373500,"journal":{"name":"EduRN: Financial Economics Education (FEN) (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129074093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Rise and Fall of Gulf Finance House","authors":"Mohammed Khnifer, Aatef Baig, F. Winkler","doi":"10.2139/ssrn.1712059","DOIUrl":"https://doi.org/10.2139/ssrn.1712059","url":null,"abstract":"This paper dissects the balance sheet and business model of Gulf Finance, and scrutinizes the existence of a \"pre-exit premium\" in their activities – on top of the usual exit fees and/or performance fees. The study suggests that this practice (uncommon even for conventional Private Equity businesses – much less for an Islamic Private Equity house) was pioneered by GFH and it is this same practice that brought them down to their knees.","PeriodicalId":373500,"journal":{"name":"EduRN: Financial Economics Education (FEN) (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131026106","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Topics in Finance, Part V - Capital Structure","authors":"Judith A. Laux","doi":"10.2139/ssrn.1703622","DOIUrl":"https://doi.org/10.2139/ssrn.1703622","url":null,"abstract":"Continuing this series on the theory of financial management, the current article investigates capital structure, offering insight into the roles of stockholder wealth maximization, the risk-return trade-off, and agency conflicts. Much literature addresses this topic, and some of the most recent literature challenges certain theoretical cornerstones touted in the textbooks, as revealed in this work.","PeriodicalId":373500,"journal":{"name":"EduRN: Financial Economics Education (FEN) (Topic)","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116991603","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"ESI Group: Is the Price Right?","authors":"Luis E. Pereiro","doi":"10.2139/SSRN.1878843","DOIUrl":"https://doi.org/10.2139/SSRN.1878843","url":null,"abstract":"Advanced MBA-level course. Students must perform the valuation of a public French technology firm.","PeriodicalId":373500,"journal":{"name":"EduRN: Financial Economics Education (FEN) (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121757872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Impact of Inflation on Share Prices","authors":"Sacha Singh","doi":"10.2139/SSRN.1693769","DOIUrl":"https://doi.org/10.2139/SSRN.1693769","url":null,"abstract":"Investment in equities may seem to be an effective bulwark against inflation; however, it is not seen empirically. This is a teaching note prepared to help the students understand the impact of inflation on prices of equity shares. The note considers the impact of inflation on accounting earnings, cash flows and on value of shares.","PeriodicalId":373500,"journal":{"name":"EduRN: Financial Economics Education (FEN) (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133474615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}