WEB SITES FOR DISCERNING FINANCE
PART VI: THE COST OF CAPITAL, CAPITAL STRUCTURE, AND DIVIDEND
"After the Revolution" This July 1998 CFO Magazine article
revisiits the Modigliani and Miller (M&M) propositions concerning the
value of the firm and its capital structure.
- Breakeven Analysis Web Sites
Breakeven Analysis Applet. Calculates a firm's breakeven
Breakeven Calculator. Cool interactive breakeven calculator courtesy
of KJE Computer Solutions.
The HBS Toolkit: Break-Even Analysis. Downloadable interactive
workbook from the HBS Toolkit helps calculate a break-even point or
target-profit level based on the fixed costs, variable costs, and unit
price of the product or service being analyzed.
- The SOHO
Breakeven Analysis. A discussion of breakeven analysis as a tool
for management decision making.
TANRO|Break Even Analysis. "Cool" online Business Simulation
introduces you to Break-Even Analysis. You play the role of a beginning
finance professional in a fictitious lawnmowing manufacturer named Tanro
who has to help make critical business decisions. Along the way you
will learn some basic break-even financial fundamentals through
an interactive experience.
- Business Classification Code Web Sites
Alice About Business Classification Codes". CCH Business Owner's
Toolkit's online advice columnist, Alice Magos, does a great job in
explaining SIC and NAICS codes. Also visit
Archive for other excellent business columns.
- NAICS Association. Provides
a collection of NAICS (pronounced "nakes") and
SIC products, information, and resources.
- NAICS -- North
American Industry Classification System. NAICS replaces the U.S.
Standard Industrial Classification (SIC) system.
Cost of Capital Resources. Morningstar provides (for a fee)
cost of capital
analysis. Take a look at this site to learn more about
the type of detailed information that they provide.
Maturity: What Do Economists say? What Do CFOs Say?". Federal
Reserve Bank of Philadelphia article discusses recent theories of how
firms choose their debt maturity.
"Declaration, Ex-dividend, and Record Date Defined". Nice article on
some of the procedural aspects of dividend policy courtesy of the
folks at Investopedia.com.
Information on Direct Investment Plans, also known as dividend
reinvestment plans (DRPs or DRIPs).
- DRIP Investor. Brings you the latest
information on Dividend Reinvestment Plans (DRIPs).
Fundamental Analysis 101: Zooming in on Net Operating Income. Nice
tutorial on Net Operating Income (NOI), which sometimes goes by the name
of NOPAT (net operating profit after taxes) or NOPLAT (net operating
profit less adjusted taxes).
Guide to Direct Investment
Plans. Learn about DRPs, DRIPs, and DSPPs.
"How Do CFOs Make Capital Budgeting and Capital Structure
Decisions?". Compressed version of a paper that won the Jensen prize
for the best JFE paper in corporate finance in 2001.
- Investing Through DRIPs.
Dividend Reinvestment Plan (DRIP) tutorial courtesy of The Motley Fool.
Tutorial #8: How Do You Calculate A Company's Cost of Capital? One
of a series of online tutorials and downloadable
spreadsheets to supplement the book "Expectations Investing" by
Rappaport and Mauboussin.
That's WACC!. Online WACC
calculator. Enter the ticker symbol for any publicly traded stock and
get an estimate of the firm's Weighted Average Cost of Capital
WACC: Practical Guide for Strategic Decision Making
8-part series discusses the weighted-average cost of capital (WACC) from
different perspectives and highlights strategies to optimize capital
structure and maximize shareholder value. Courtesy of Zanders
Estimating the WACC Like Interpreting a Piece of Art?
Shareholder Value -- Towards an Optimal Credit Rating!
Expensive Debt or Cheap Equity?
The Impact of Corporate Risk Management on Shareholder Value
Project Selection -- How to Choose the Right Project and Make
Estimating the WACC in Emerging Markets -- The Challenges
Keep Track of Your Company's Valuation Gap!
Increasing Shareholder Value by Utilizing Tax Opportunities
What are stock
splits? The Motley Fool provides
a detailed answer to this FAQ.
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