-
出版商:
Springer
-
出版日期:
2025-10-02
-
售價:
$5,910
-
貴賓價:
9.5 折
$5,615
-
語言:
英文
-
頁數:
843
-
裝訂:
Hardcover - also called cloth, retail trade, or trade
-
ISBN:
3032010276
-
ISBN-13:
9783032010278
-
相關分類:
投資理財 Investment
商品描述
Existing investment models fail to correctly assess the efficiency of investments. This happens due to both the lack of self-consistent models based on first principles and the inability to correctly assess the discount rate. This book describes innovative investment models tested in practice. The authors modify these models for real implementation conditions, including frequent payments of income tax and interest on debt at the end of periods and as advance payments, and variable payments. The book examines how these types of payments influence the efficiency of investment projects. It considers the efficiency of an investment project from two perspectives: the owners of equity and debt, and only the equity. The latest versions of two main theories of capital structure (Brusov-Filatova-Orekhova (BFO) and Modigliani-Miller (MM)) allow for the correct assessment of the discount rate when evaluating the efficiency of investment projects (both long-term and of arbitrary duration). The book also describes the practical application of the created investment models and develops a new methodology for rating investment projects.
商品描述(中文翻譯)
現有的投資模型無法正確評估投資的效率。這是因為缺乏基於第一原則的自洽模型，以及無法正確評估折現率。本書描述了在實踐中測試過的創新投資模型。作者對這些模型進行了修改，以適應實際實施條件，包括在期末和作為預付款的頻繁所得稅和債務利息支付，以及變動支付。本書探討了這些類型的支付如何影響投資項目的效率。它從兩個角度考慮投資項目的效率：股權和債務的所有者，以及僅考慮股權。兩個主要資本結構理論的最新版本（Brusov-Filatova-Orekhova (BFO) 和 Modigliani-Miller (MM)）允許在評估投資項目的效率時正確評估折現率（無論是長期還是任意期限）。本書還描述了所創建的投資模型的實際應用，並開發了一種新的投資項目評級方法。
作者簡介
Peter Brusov is professor at the Financial University under the Government of the Russian Federation in Moscow (Russia). He is an expert in financial management, corporate finance, investments, ratings, taxation, business valuation. He is a co-author of the famous Brusov-Filatova-Orekhova theory, which replaced the well-known Modigliani-Miller theory, created by Nobel Prize Laureates. As well he is a co-author of the CAPM 2.0 model, which generalized the famous CAPM model for accounting the financial risk along with business risk. Peter Brusov is the author of the qualitatively new approach to business valuation. He has been a visiting Professor of Northwestern University (USA), Cornell University (USA), Osaka City University (Japan) and National Chung Cheng University (Taiwan) among other places. He is the author of over 550 research publications including nine monographs, numerous textbooks and articles. Tatiana Filatova is professor at the Financial University under the Government of the Russian Federation in Moscow (Russia). She is an expert in financial management, corporate finance, investments, ratings, taxation, business valuation. Tatiana Filatova is a co-author of the famous Brusov-Filatova-Orekhova theory, which replaced the well-known Modigliani-Miller theory, created by Nobel Prize Laureates. As well she is a co-author of the CAPM 2.0 model, which generalized the famous CAPM model for accounting the financial risk along with business risk. Tatiana Filatova is the author of the qualitatively new approach to business valuation. In the past 20 years, she has been Dean of the faculties of financial management, management, state and municipal government at the Financial University. Tatiana Filatova is the author of over 300 research publications including eight monographs, numerous textbooks and articles.
作者簡介(中文翻譯)
彼得·布魯索夫（Peter Brusov）是俄羅斯聯邦政府金融大學（Financial University under the Government of the Russian Federation）在莫斯科的教授。他是財務管理、企業財務、投資、評級、稅務和商業估值的專家。他是著名的布魯索夫-菲拉托娃-奧列赫娃理論（Brusov-Filatova-Orekhova theory）的共同作者，該理論取代了由諾貝爾獎得主創建的著名莫迪利安尼-米勒理論（Modigliani-Miller theory）。此外，他還是CAPM 2.0模型的共同作者，該模型對著名的CAPM模型進行了概括，以考慮財務風險和商業風險。彼得·布魯索夫提出了一種質量上全新的商業估值方法。他曾擔任美國西北大學（Northwestern University）、美國康奈爾大學（Cornell University）、日本大阪市立大學（Osaka City University）和台灣國立中正大學（National Chung Cheng University）等地的訪問教授。他擁有超過550篇研究出版物，包括九部專著、眾多教科書和文章。
塔季揚娜·菲拉托娃（Tatiana Filatova）是俄羅斯聯邦政府金融大學在莫斯科的教授。她是財務管理、企業財務、投資、評級、稅務和商業估值的專家。塔季揚娜·菲拉托娃是著名的布魯索夫-菲拉托娃-奧列赫娃理論的共同作者，該理論取代了由諾貝爾獎得主創建的著名莫迪利安尼-米勒理論。此外，她還是CAPM 2.0模型的共同作者，該模型對著名的CAPM模型進行了概括，以考慮財務風險和商業風險。塔季揚娜·菲拉托娃提出了一種質量上全新的商業估值方法。在過去的20年中，她擔任金融大學財務管理、管理、國家和市政政府學院的院長。塔季揚娜·菲拉托娃擁有超過300篇研究出版物，包括八部專著、眾多教科書和文章。
