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Regional Value Chains in the Mineral Resources Sector
Regional Value Chains in the Mineral Resources Sector

Fundamental indexation: an active value strategy in disguise
Fundamental indexation: an active value strategy in disguise

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... ©2012 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome • Models used are not clients but may be representative of clients • 321 N. Clark Street, Suite 2800, Chicago, IL 60654 • 312.832.4500 ...
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... Brd of Directors declare small stock dvd (less than 25% of issued shrs) How to calculate Number of common shares issued/outstanding Board of Directors declare a 10% stock dividend Number of dividend shares Market value as of the date of the declaration Number of dividend shares Value of distribution ...
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... The fed funds rate and the discount rate are two of the tools the Federal Reserve uses to set U.S. monetary policy. Let’s start by describing the more important of these two short-term interest rates—the fed funds rate. First, you should know that depository institutions are required by the Federal ...
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... If the investment bankers underwrite the issue on a firm commitment basis, they guarantee the price the issuer will receive and take the risk of loss if purchases do not come forward at that price. They may instead underwrite the bonds with only their best efforts, in which case the issuer receives ...
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... These statements are based on beliefs and assumptions of Piedmont’s management, which in turn are based on currently available information. Important assumptions relating to the forward-looking statements include, among others, assumptions regarding the demand for office space in the sectors in whic ...
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... the systematic risk of that project and the target capital structure of the firm (or division) taking the project. So, – Select a publicly traded company that is comparable in terms of the risk of the underlying business/assets. – Obtain the unlevered (asset) beta of the comparable company by transf ...
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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.
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