Cost of Capital: Applications and Examples, 4th EditionISBN: 978-0-470-47605-5
Hardcover
704 pages
October 2010
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"This book is the most incisive and exhaustive treatment of this
critical subject to date."
—From the Foreword by Stephen P. Lamb, Esq., Partner, Paul,
Weiss, Rifkind, Wharton & Garrison LLP, and former vice
chancellor, Delaware Court of Chancery
"Cost of Capital, Fourth Edition treats both the theory
and the practical applications from the view of corporate
management and investors. It contains in-depth guidance to assist
corporate executives and their staffs in estimating cost of capital
like no other book does. This book will serve corporate
practitioners as a comprehensive reference book on this challenging
topic in these most challenging economic times."
—Robert L. Parkinson Jr., Chairman and Chief Executive
Office, Baxter International Inc., and former dean, School of
Business Administration and Graduate School of Business, Loyola
University of Chicago
"Shannon Pratt and Roger Grabowski have consolidated information
on both the theoretical framework and the practical applications
needed by corporate executives and their staffs in estimating cost
of capital in these ever-changing economic times. It provides
guidance to assist corporate practitioners from the corporate
management point of view. For example, the discussions on measuring
debt capacity is especially timely in this changing credit market
environment. The book serves corporate practitioners as a solid
reference."
—Franco Baseotto, Executive Vice President, Chief
Financial Officer, and Treasurer, Foster Wheeler AG
"When computing the cost of capital for a firm, it can be fairly
said that for every rule, there are a hundred exceptions. Shannon
Pratt and Roger Grabowski should be credited with not only defining
the basic rules that govern the computation of the cost of capital,
but also a road map to navigate through the hundreds of exceptions.
This belongs in every practitioner's collection of must-have
valuation books."
—Aswath Damodaran, Professor, Stern School of
Business, New York University
"Pratt and Grabowski have done it again. Just when you thought
they couldn't possibly do a better job, they did. Cost of Capital,
Fourth Edition is a terrific resource. It is without a doubt the
most comprehensive book on this subject today. What really
distinguishes this book from other such texts is the fact that it
is easy to read—no small feat given the exhaustive and
detailed research and complicated subject matter. This book makes
you think hard about all the alternative views out there and helps
move the valuation profession forward."
—James R. Hitchner, CPA/ABV/CFF, ASA, Managing
Director, Financial Valuation Advisors; CEO, Valuation Products and
Services; Editor in Chief, Financial Valuation and Litigation
Expert; and President, Financial Consulting Group
"The Fourth Edition of Cost of Capital continues to be a
'one-stop shop' for background and current thinking on the
development and uses of rates of return on capital. While it will
have an appeal for a wide variety of constituents, it should serve
as required reading and as a reference volume for students of
finance and practitioners of business valuation. Readers will
continue to find the volume to be a solid foundation for continued
debate and research on the topic for many years to come."
—Anthony V. Aaron, Americas Leader, Quality and Risk
Management, Ernst & Young Transaction Advisory Services