• Study Resource
  • Explore
    • Arts & Humanities
    • Business
    • Engineering & Technology
    • Foreign Language
    • History
    • Math
    • Science
    • Social Science

    Top subcategories

    • Advanced Math
    • Algebra
    • Basic Math
    • Calculus
    • Geometry
    • Linear Algebra
    • Pre-Algebra
    • Pre-Calculus
    • Statistics And Probability
    • Trigonometry
    • other →

    Top subcategories

    • Astronomy
    • Astrophysics
    • Biology
    • Chemistry
    • Earth Science
    • Environmental Science
    • Health Science
    • Physics
    • other →

    Top subcategories

    • Anthropology
    • Law
    • Political Science
    • Psychology
    • Sociology
    • other →

    Top subcategories

    • Accounting
    • Economics
    • Finance
    • Management
    • other →

    Top subcategories

    • Aerospace Engineering
    • Bioengineering
    • Chemical Engineering
    • Civil Engineering
    • Computer Science
    • Electrical Engineering
    • Industrial Engineering
    • Mechanical Engineering
    • Web Design
    • other →

    Top subcategories

    • Architecture
    • Communications
    • English
    • Gender Studies
    • Music
    • Performing Arts
    • Philosophy
    • Religious Studies
    • Writing
    • other →

    Top subcategories

    • Ancient History
    • European History
    • US History
    • World History
    • other →

    Top subcategories

    • Croatian
    • Czech
    • Finnish
    • Greek
    • Hindi
    • Japanese
    • Korean
    • Persian
    • Swedish
    • Turkish
    • other →
 
Profile Documents Logout
Upload
mmi14-Hoffmann  19104742 en
mmi14-Hoffmann 19104742 en

The Great Escape? A Quantitative Evaluation of the Fed’s Liquidity Facilities
The Great Escape? A Quantitative Evaluation of the Fed’s Liquidity Facilities

... This friction is a relatively standard financing constraint.2 Second, a firm that faces an investment opportunity can sell only up to a certain fraction of the “illiquid” assets on its balance sheet in each period. In the model, these illiquid assets correspond to equity holdings of other firms. Mor ...
Liberty Mutual Holding Company Inc. December 31, 2013 and 2012
Liberty Mutual Holding Company Inc. December 31, 2013 and 2012

1 VALUING PRIVATE FIRMS So far in this book, we
1 VALUING PRIVATE FIRMS So far in this book, we

Guru Stock Report - The Globe and Mail
Guru Stock Report - The Globe and Mail

... Analysis system. "B" rated stocks pass the fundamental tests of at least one of our guru strategies, although they do not pass the top performing strategies required to receive an "A" grade. Stocks that receive this grade typically have mostly favorable fundamental attributes, although there are typ ...
Karlstad Business School Kundju Atem, Robert Paper on Financial
Karlstad Business School Kundju Atem, Robert Paper on Financial

... transaction Nelson (1969). In real meaning, fair value accounting focuses on providing an objective valuation of asset, without undue in influence from the concerned parties .Nelson (1996), without considering historical costs and basing the value of an asset on the mark-to-market accounting rules l ...
0001193125-14-167598 - Town Sports International Holdings, Inc.
0001193125-14-167598 - Town Sports International Holdings, Inc.

... Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registra ...
Corporate Finance
Corporate Finance

... financing. This ratio is called the debt to capital ratio: Debt to Capital Ratio = Debt / (Debt + Equity) Debt includes all interest bearing liabilities, short term as well as long term. It should also include other commitments that meet the criteria for debt: contractually pre-set payments that hav ...
The Swaps Market: A Case Study Detailing Market
The Swaps Market: A Case Study Detailing Market

TO DETERMINE INTEREST AND LOAN DEFAULT RATES AMONG
TO DETERMINE INTEREST AND LOAN DEFAULT RATES AMONG

... principal paid a certain amount of times (m) per period (usually quoted per annum). For example, a small company borrows capital from a bank to buy new assets for its business, and in return the lender receives interest at a predetermined interest rate for deferring the use of funds and instead len ...
Risk and Valuation of Collateral Debt Obligations
Risk and Valuation of Collateral Debt Obligations

NBER WORKING PAPER SERIES FIRM DYNAMICS, INVESTMENT, AND DEBT PORTFOLIO:
NBER WORKING PAPER SERIES FIRM DYNAMICS, INVESTMENT, AND DEBT PORTFOLIO:

Scrutiny November 3 2011 - Hertfordshire County Council
Scrutiny November 3 2011 - Hertfordshire County Council

Accounting Chapter 2 Valhalla Transaction List
Accounting Chapter 2 Valhalla Transaction List

... Valhalla Vikings Transactions List Page 3 ...
NBER WORKING PAPER SERIES STOCK AND BOND PRICING IN AN AFFINE ECONOMY
NBER WORKING PAPER SERIES STOCK AND BOND PRICING IN AN AFFINE ECONOMY

The Use of Financial Derivatives by Canadian Firms
The Use of Financial Derivatives by Canadian Firms

... be consistent with those found in other jurisdictions. Financial derivatives such as forwards, futures, options and swaps allow corporations to protect themselves from unpredictable changes in exchange rates, interest rates and commodity prices, thereby reducing the degree of financial risk to which ...
RetireOneTM Transamerica II Eligible Strategies
RetireOneTM Transamerica II Eligible Strategies

Creation of financial assets
Creation of financial assets

... Rising yield curve implies that short rates are expected to be higher in the future and this is probably because inflation is expected to rise in future years Inflation Prediction from the yield curve Observe the current yield curve r2 = 6%, r1 = 5%, then f12 = 7.0% If real rate = 3%, then ( from Fi ...
Government Debt
Government Debt

The Chicago Plan Revisited  Jaromir Benes and Michael Kumhof WP/12/202
The Chicago Plan Revisited Jaromir Benes and Michael Kumhof WP/12/202

The Effects of Credit Subsidies on Development
The Effects of Credit Subsidies on Development

Strength of the Pound Sterling: Economy and
Strength of the Pound Sterling: Economy and

... “31-year low” a few days later.2 The International Monetary Fund (IMF) describes the UK’s currency exchange system as ‘free-floating’, meaning that the exchange rate of sterling is largely market determined.3 The UK Government has stated that it: […] does not have a target for the sterling exchange ...
Money and Inflation Adapted for EC 204 by Prof. Bob Murphy
Money and Inflation Adapted for EC 204 by Prof. Bob Murphy

This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research

NBER WORKING PAPER SERIES INFLATION AND GROWTH Stanley Fischer Working Paper No. 1235
NBER WORKING PAPER SERIES INFLATION AND GROWTH Stanley Fischer Working Paper No. 1235

... 1. The Mechanisms Linking Inflation, Output, and Growth. There are several economic mechanisms linking inflation, output, and ...
< 1 ... 49 50 51 52 53 54 55 56 57 ... 178 >

Present value

In economics, present value, also known as present discounted value, is the value of an expected income stream determined as of the date of valuation. The present value is always less than or equal to the future value because money has interest-earning potential, a characteristic referred to as the time value of money, except during times of negative interest rates, when the present value will be greater than the future value. Time value can be described with the simplified phrase, “A dollar today is worth more than a dollar tomorrow”. Here, 'worth more' means that its value is greater. A dollar today is worth more than a dollar tomorrow because the dollar can be invested and earn a day's worth of interest, making the total accumulate to a value more than a dollar by tomorrow. Interest can be compared to rent. Just as rent is paid to a landlord by a tenant, without the ownership of the asset being transferred, interest is paid to a lender by a borrower who gains access to the money for a time before paying it back. By letting the borrower have access to the money, the lender has sacrificed the exchange value of this money, and is compensated for it in the form of interest. The initial amount of the borrowed funds (the present value) is less than the total amount of money paid to the lender.Present value calculations, and similarly future value calculations, are used to value loans, mortgages, annuities, sinking funds, perpetuities, bonds, and more. These calculations are used to make comparisons between cash flows that don’t occur at simultaneous times. The idea is much like algebra, where variable units must be consistent in order to compare or carry out addition and subtraction; time dates must be consistent in order to make comparisons between values or carry out simple calculations. When deciding between projects in which to invest, the choice can be made by comparing respective present values of such projects by means of discounting the expected income streams at the corresponding project interest rate, or rate of return. The project with the highest present value, i.e. that is most valuable today, should be chosen.
  • studyres.com © 2025
  • DMCA
  • Privacy
  • Terms
  • Report