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imported>Doug Williamson |
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| 1.
| | == Summary == |
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| The evaluation and selection of projects which are most likely to maximise shareholders' wealth, by the comparative analysis of their expected cashflows.
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| 2.
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| Similar evaluation techniques taking account of additional factors and considerations - as well as the expected project cashflows - including for example the existence of real options.
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| Also known as ''Project analysis.''
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| Note for both definitons above that ''projects'' are anything involving expenditures for which the benefits, or some of them, occur at a different time from that of the expenditure or some it.
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| As well as capital expenditure, included are, for example, acquisitions and disposals, marketing expenditure, advertising, staff training or buying a new coffee pot for a staff refreshment station.
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| It is only worthwile devoting time and effort in formal project appraisal for projects involving material expenditure.
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| == See also == | |
| * [[Real option]]
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| * [[Real options valuation]]
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| * [[Sunk costs]]
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| [[Category:Corporate_finance]]
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Latest revision as of 09:28, 27 July 2023
Summary
Importing files from local file repository