The Telecommunications Act of 1996 required that charges for interconnection, universal service and unbundled network elements should be based on cost, and directed the Federal Communications Commission to implement this legislation. The parties developed engineering process models to estimate forward-looking costs. Both the engineering economics and the cost model approaches were unsatisfactor...

In sharp contrast to the dominant real option valuation that assumes a stochastic process for an investment’s capital value, this paper demonstrates the valuation of a real option assuming that cash flow follows a stochastic process. We show that this method is at least equally effective and sometimes more intuitive. We note that, in a discounted cash flow (DCF) framework, only when certain con...

The market for space solar power (SSP) is developing. This analysis utilizes a case study of SSP remote mine operations to determine its economic feasibility. We employ discounted cash flow (DCF) evaluation and then assess the sensitivity DCF model changes in underlying assumptions. results indicate that there are scenarios where it considered viable alternative. Further, discussion assumed man...

A common method of valuing the equity in leveraged transactions is the flows-toequity method whereby the free cash flow available to equity holders is discounted at the cost of equity. This method uses a standard definition of equity free cash flow, but the cost of equity varies over time as leverage varies. Various formulas can be used to calculate the time-varying cost of equity, most of whic...

journal of accounting advances (j.a.a) vol. 5, no. 1, 2013, ser. 64/3     extended abstract   monitoring role of auditing and corporate dividend payout policies   dr. v. khodadadi              s. hajizadeh               r. ghorbani shahid chamran university of ahvaz   introduction the aim of this paper is to investigate the relation between monitoring role of independent auditing and corporate ...

Many firms in the oil and gas business have long used decision analysis techniques to evaluate exploration and development opportunities and have looked at recent development in option pricing theory as potentially offering improvements over the decision analysis approach. Unfortunately, it is difficult to discern the benefits of the options approach from the literature on the topic: Most of th...

The economic situation in Indonesia has suffered a major hit various sectors since the end of 2019. This study aims to analyze Valuation Technology Company Shares listed on Stock Exchange using Dividend Discount Model and Free Cash Flow Equity. uses sample 8 companies from 35 technology Exchange. research data compares stock valuations 2019, 2020 2021 before, during after Covid 19. Statistical ...

This paper presents an overview of information-based asset pricing. In the information-based approach, an asset is defined by its cash-flow structure. The market is assumed to have access to “partial” information about future cash flows. Each cash flow is determined by a collection of independent market factors called X-factors. The market filtration is generated by a set of information process...

The recent interest in the valuation of tax benefits from debt arises from the disagreement in the existing literature about the meaning of “value of tax shields.” Although it is accepted that the value of a firm increases as effect of the tax deductibility of interest, the correct valuation of this extra-value is controversial. In this paper we adopt a risk-neutral approach to derive a general...