Capital Budgeting and Investment Analysis
Capital Budgeting and Investment Analysisis concerned with the most important problem facing management: finding or creating investment projects that are worth more than they cost. Throughout, the book emphasizes how management creates value for its shareholders.The basic philosophy of this book is to help students develop their critical thinking skills required to assess potential investments. Topics covered include the basics of capital budgeting, the estimation of project cash flows and the project cost of capital, risk analysis in capital budgeting, and corporate strategy and its relationship to the capital-budgeting decision.