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Understanding Industrial Investment Decision-making

Understanding Industrial Investment Decision-making
Author: Christopher Russell
Publisher:
Total Pages: 0
Release: 2012
Genre: Manufacturing industries
ISBN:
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Evidence of a resurgent, domestic manufacturing sector has strategic implications for energy policy as well as the economy. This industrial renewal is an opportunity to lock in energy savings for a generation for the U.S., and should be taken advantage of by state and utility energy programs. This report examines the dynamics of capital investment that drives industrial energy use and competitiveness. The report presents results from a survey of industry stakeholders that identifies the nature of capital investment decision-making. With a better understanding of capital investment dynamics, program administrators can work in concert with industry managers to build more efficient and productive manufacturing facilities on U.S. soil to create a more efficient and competitive manufacturing base for the future.

Investment Decisions and the Logic of Valuation

Investment Decisions and the Logic of Valuation
Author: Carlo Alberto Magni
Publisher: Springer Nature
Total Pages: 751
Release: 2020-02-11
Genre: Business & Economics
ISBN: 3030276627
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This book presents a new approach to the valuation of capital asset investments and investment decision-making. Starting from simple premises and working logically through three basic elements (capital, income, and cash flow), it guides readers on an interdisciplinary journey through the subtleties of accounting and finance, explaining how to correctly measure a project’s economic profitability and efficiency, how to assess the impact of investment policy and financing policy on shareholder value creation, and how to design reliable, transparent, and logically consistent financial models. The book adopts an innovative pedagogical approach, based on a newly developed accounting-and-finance-engineering system, to help readers gain a deeper understanding of the accounting and financial magnitudes, learn about new analytical tools, and develop the necessary skills to practically implement them. This diverse approach to capital budgeting allows a sophisticated economic analysis in both absolute terms (values) and relative terms (rates of return), and is applicable to a wide range of economic entities, including real assets and financial assets, engineering designs and manufacturing schemes, corporate-financed and project-financed transactions, privately-owned projects and public investments, individual projects and firms. As such, this book is a valuable resource for a broad audience, including scholars and researchers, industry practitioners, executives, and managers, as well as students of corporate finance, managerial finance, engineering economics, financial management, management accounting, operations research, and financial mathematics. It features more than 180 guided examples, 50 charts and figures and over 160 explanatory tables that help readers grasp the new concepts and tools. Each chapter starts with an abstract and a list of the skills readers can expect to gain, and concludes with a list of key points summarizing the content.

The Financial Times Guide to Making the Right Investment Decisions

The Financial Times Guide to Making the Right Investment Decisions
Author: Michael Cahill
Publisher: Pearson UK
Total Pages: 355
Release: 2013-02-14
Genre: Business & Economics
ISBN: 0273759973
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Do you want to feel more confident about your investment decisions? Do you need to have a better understanding of how the stock markets value a business? Do you want to know what the key ratios are that drive share price performance? The Financial Times Guide to Making the Right Investment Decisions is the insider’s guide to how the market examines companies and values shares. It helps you understand the factors that drive long term wealth creation as well as highlighting the key risks that lead to value being destroyed. Originally published as Analysing Companies and Valuing Shares, this new edition has been fully revised and includes a new and easy to follow framework for understanding valuation. Perfect for investors at all levels, it guides you through the investment maze, and highlights the key issues you need to consider to invest successfully. The Financial Times Guide to Making the Right Investment Decisions: · Gives you an easy to follow framework to guide your decision-making · Explains clearly and concisely key financial concepts and how they drive valuation · Shows you the key ratios to monitor and how they affect share prices · Illustrates the key risks and warning signals that will help you avoid losses · Identifies the qualities of company management and governance that differentiates winners from losers · Brings the issues and numbers to life with real examples and case studies In a challenging economic and stock market environment, the need to take better informed decisions is vital. This clear, common sense guide provides a comprehensive and accessible framework for understanding the valuation of a business and what drives its share price. Knowing the key numbers, ratios and techniques that professional investors use will help you to reduce your risk and invest more profitably.

Investment Under Uncertainty

Investment Under Uncertainty
Author: Avinash K. Dixit
Publisher: Princeton University Press
Total Pages: 484
Release: 1994
Genre: Business & Economics
ISBN: 0691034109
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How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.

Information Technology Investment

Information Technology Investment
Author: Marc J. Schniederjans
Publisher: World Scientific
Total Pages: 465
Release: 2010
Genre: Business & Economics
ISBN: 981428257X
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From the individual to the largest organization, everyone today has to make investments in IT. Making a smart investment that will best satisfy all the necessary decision-making criteria requires careful and inclusive analysis. This textbook provides an up-to-date, in-depth understanding of the methodologies available to aid in this complex process of multi-criteria decision-making. It guides readers on the process of technology acquisition ? what methods to use to make IT investment decisions, how to choose the technology and justify its selection, and how the decision will impact the organization.Unique to this textbook are both financial investment models and more complex decision-making models from the field of management science so that readers can extend the analysis benefits to enhance and confirm their IT investment choices. The wide range of methodologies featured in the book gives readers the opportunity to customize their best-fit solutions for their unique IT decision situation. This textbook is especially ideal for educators and students involved in programs dealing with technology management, operations management, applied finance, operations research, and industrial engineering.A complimentary copy of the ?Instructor's Manual and Test Bank? and the PowerPoint presentations of the text materials are available for all instructors who adopt this book as a course text. Please send your request to [email protected].

Property Investment Decisions

Property Investment Decisions
Author: S Hargitay
Publisher: Routledge
Total Pages: 357
Release: 2003-09-02
Genre: Architecture
ISBN: 1135829942
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The first part of the book explains the theoretical basis for investment decision-making. Parts two and three are more practically orientated, and will equip the reader with the know-how of up-to-date methods and techniques to evaluate and monitor the investment performance of property assets and to develop efficient rational decision-making.

Value of More Sophistication

Value of More Sophistication
Author: Yuanjian Carla Li
Publisher:
Total Pages: 122
Release: 2014
Genre:
ISBN:
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In many mining markets, one of the central business planning decisions faced by firms is where, when, and by how much to expand their production capacity. Appropriate investment planning methodology is important to both the mining industry and the wider economy. Currently, new mine investment decisions are most often based on the classic project evaluation methodology of discounted cash flow analysis (DCF) applied to the individual potential projects, which is flawed in its inadequate consideration of risk and flexibility, of impact on the profit of the firm, and of competitive dynamics in oligopoly markets. More sophisticated methods that account for these complexities have been proposed in academic literature; however, their value in realistic market settings has been little demonstrated in past literature and they are rarely adopted in practice. This thesis compares four investment decision paradigms of increasing scope and complexity in a three-firm mineral commodity market, based primarily on the firm-level cash flow NPV outcome in Monte Carlo simulations of the market. The analysis is conducted for various market scenarios of different demand growth patterns, volatility, demand elasticity, and supply structure. Simulation results show that in almost all scenarios, the game theoretic and option-based best-firm-NPV policies outperform the positive-mine-NPV policy substantially for all firms, regardless their market and cost position. However, the difference between the best-firm-NPV policy and the positive-firm-NPV policy is often small, depending on the scenario. Overall, the evaluation conducted in this thesis contributes to our understanding of how useful having more sophisticated investment decision methods might be to the firms and under what market conditions.