EXCEL MODELING AND ESTIMATION IN CORPORATE FINANCE,

THIRD EDITION - Contents   Preface,  Desk Copy,  Purchase on Amazon,  Free US Yield Curve Dynamics.

PART 1  TIME VALUE OF MONEY   1

Chapter 1  Single Cash Flow    1
                              1.1  Present Value   1
                             1.2  Future Value   2
                             Problems   3
Chapter 2  Annuity    4
                              2.1  Present Value   4
                             2.2  Future Value   5
                             2.3  System of Four Annuity Variables   6
                             Problems   8
Chapter 3  NPV Using Constant Discounting   9
                              3.1  Nominal Rate   9
                             3.2  Real Rate   10
                             Problems   11
Chapter 4  NPV Using General Discounting   12
                              4.1  Nominal Rate   12
                             4.2  Real Rate   14
                             Problems    16
Chapter 5  Loan Amortization   17
                              5.1  Basics   17
                             5.2  Sensitivity Analysis   18
                             Problems   20

PART 2  VALUATION   21

Chapter 6  Bond Valuation   21
                              6.1  Annual Payments   21
                             6.2  APR and EAR   22
                             6.3  By Yield To Maturity   23
                             6.4  Dynamic Chart   24
                             6.5  System Of Five Bond Variables   25
                             Problems   26
 Chapter 7  Estimating the Cost of Capital   28
                              7.1  Static CAPM Using Fama-MacBeth Method   28
                             7.2  APT or Intertemporal CAPM Using Fama-MacBeth Method   33
                             Problems   40
 Chapter 8  Stock Valuation   42
                               8.1  Dividend Discount Model   42
                              Problems   43
 Chapter 9  Firm and Project Valuation   44
                               9.1  Cash Flows for Five Equivalent Methods   44
                              9.2  Adjusted Present Value   47
                              9.3  Free Cash Flow to Equity   48
                              9.4  Free Cash Flow to the Firm   50
                              9.5  Dividend Discount Model   52
                              9.6  Residual Income   53
                              9.7  Five Equivalent Methods   54
                              Problems   63
                              Appendix: Where did those Two-Stage Formulas for the Cost of Equity
                              Capital and the Cost of Firm Capital come from?   64
Chapter 10 The Yield Curve   70
                               10.1  Obtaining It From Treasury Bills and Strips   70
                              10.2  Using It To Price A Coupon Bond   71
                              10.3  Using It To Determine Forward Rates   73
                              Problems   74
Chapter 11 U.S. Yield Curve Dynamics   75
                               11.1  Dynamic Chart   75
                              Problems   81

PART 3  CAPITAL BUDGETING   83

Chapter 12 Project NPV   83  
                              12.1  Basics   83
                              12.2  Forecasting Cash Flows   86  
                              12.3  Working Capital   87
                              12.4  Sensitivity Analysis   89
                              Problems   92
Chapter 13 Cost-Reducing Project   93  
                               13.1  Basics   93
                              13.2  Sensitivity Analysis   96  
                              Problems   96
 Chapter 14 Break-Even Analysis   98
                               14.1  Based On Accounting Profit   98
                              14.2  Based On NPV   101
                              Problems   105
 

PART 4 FINANCIAL PLANNING   106

Chapter 15 Corporate Financial Planning   106
                         15.1  Actual   106
                              15.2  Forecast   109
                              15.3  Cash Flow   113
                              15.4  Ratios   115
                              15.5  Sensitivity   117
                              15.6  Full-Scale Estimation   118
                              Problems   116
 Chapter 16 Du Pont System of Ratio Analysis   127
                              16.1  Basics   127  
                              Problems   128
 Chapter 17 Life-Cycle Financial Planning   129
                              17.1  Basics   129
                              17.2  Full-Scale Estimation  131             
                              Problems   139

PART 5  OPTIONS AND CORPORATE FINANCE   140

Chapter 18 Binomial Option Pricing   140
                               18.1  Estimating Volatility   140
                              18.2  Single Period   141
                              18.3  Multi-Period   143
                              18.4  Risk Neutral   149
                              18.5  American With Discrete Dividends   152
                              18.6  Full-Scale    156
                              Problems   164
 Chapter 19 Real Options   166
                               19.1  NPV Correctly vs. NPV Ignoring Option   166
                              Problems   169
 Chapter 20 Black Scholes Option Pricing   170
                               20.1  Basics   170
                              20.2  Continuous Dividend   171
                               20.3  Dynamic Chart   172
                              20.4  Implied Volatility   175
                              Problems   177
Chapter 21 Debt and Equity Valuation   179
                               21.1  Two Methods   179
                              21.2  Impact of Risk   181
                              Problems   182
 Chapter 22 International Parity     183
                               22.1  System of Four Parity Conditions     183
                              22.2  Estimating Future Exchange Rates     187
                              Problems     187

PART 6  EXCEL SKILLS     188

 Chapter 23 Useful Excel Tricks     188
                               23.1  Quickly Delete The Instruction Boxes and Arrows     188
                               23.2  Freeze Panes     188
                               23.3  Spin Buttons and the Developer Tab     189
                               23.4  Option Buttons and Group Boxes     190
                               23.5  Scroll Bar     192
                               23.6  Install Solver or the Analysis ToolPak     193
                               23.7  Format Painter     193
                               23.8  Conditional Formatting     194
                               23.9  Fill Handle     195
                               23.10  2-D Scatter Chart     195
                               23.11  3-D Scatter Chart     197

CONTENTS ON CD

      TXT   Readme.txt
      PDF  Excel Mod Est in Corp Fin 3.pdf
        Ch 01 Single Cash Flow.xlsx
        Ch 02 Annuity.xlsx
        Ch 03 NPV Constant Discnt.xlsx
        Ch 04 NPV General Discnt.xlsx
        Ch 05 Loan Amortization.xlsx
        Ch 06 Bond Valuation.xlsx
        Ch 07 Cost of Capital.xlsx
        Ch 08 Stock Valuation.xlsx
        Ch 09 Firm and Project Val.xlsx
        Ch 10 The Yield Curve.xlsx
        Ch 11 US Yield Curve Dynam.xlsx
        Ch 12 Project NPV.xlsx
        Ch 13 Cost Reducing Proj.xlsx
        Ch 14 Break Even Analysis.xlsx
        Ch 15 Corp Financial Plan.xlsx
        Ch 16 DuPont Ratio Anal.xlsx
        Ch 17 Life-Cycle Fin Plan.xlsx
        Ch 18 Binomial Option Pric.xlsx
        Ch 19 Real Options.xlsx
        Ch 20 Black Scholes Opt Pr.xlsx
        Ch 21 Debt and Equity Val.xlsx
        Ch 22 International Parity.xlsx
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