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Capital Budgeting and Long-Term Financing Decisions (The Dryden Press Series in Finance)

by Neil Seitz, Mitch Ellison

ISBN-10: 9780030237898
ISBN-10: 0-03-023789-0
ISBN-13: 9780030237898
ISBN-13: 978-0-03-023789-8
Paperback
1998-12-02
Harcourt Brace College Publishers


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Editorials


Product Description
This text explores all areas of capital budgeting and all the strategies used to make long-term financing decisions. Utilizing a strategic framework, it discusses how the key concepts synchronize with overall corporate strategies and goals. The text is appropriate for capital budgeting classes in finance departments and engineering economy courses found in civil and industrial engineering departments.

Reviews


unclear
I felt that this textbook which was used for one of my mba classes was confusing. There are mistakes and typos which are unacceptable in a finance text. The cases do not get directly to the point, and add distracting information to make the case seem more 'real,' but instead it is just unclear. The explanations and examples are not explained well.

A Classic and Must Have
This book explains very well the diffrent concepts and techniques used in capital budgeting such as Divident, risk-adjusted cash flow analysis, WACC calculations, and an introduction to Linear programing. However, it does not provide a very advanced analysis of the techniques. The book shows you how to use them, the different assumptions behind each technique, advantage and disadvantage, but does not explain how to apply the techniques in very complexe situations. Overall, it is a classic in terms of content and the number of topics cavered.

Old fashioned and somewhat confuse
I have used this as a textbook for executive MBA students. The text is comprehensive and the reading is easy but some cases, although short, are confuse. The authors spend precious time in topics which are usually subject of other disciplines and the students have already studied, like derivatives, lease analysis, linear programming and mergers, just to name a few. On the other hand, the discussion of option models is restricted to a few pages and do not emphasize the use of options to evaluate flexibility. It's almost unconceivable to organize a course in capital budgeting without discussing real options, so the book has to be complemented, while several chapters could be eliminated.

Excellent Professional Resource
An excellent book to refresh your knowledge or as a reference source. Well written and covers everything.


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