Quantitative Corporate Finance

  • Home
  • Blog
  • Cookbook
    • Capital Allocation
    • Capital Return
    • Debt Capacity
    • Monte Carlo
    • Quantitative Analysis
    • Statistics
    • Sustainable Company Modeling
  • Annotated Glossary
  • About Us

Calculating Stable Equity Beta Values

December 15, 2019 by Hans Tallis Leave a Comment

A paper titled "Best Practice for Cost-of-Capital Estimates" (Levi and Welch, 2017) focuses on … [Read more]

CAPM, Risk, and Return: Why the Relationship Is Broken

December 27, 2014 by Hans Tallis Leave a Comment

In an earlier post we illustrated the fundamental breakdown of the risk-vs-return relationship as … [Read more]

“The Value of Cash” Published in CFO.com

December 25, 2014 by Hans Tallis Leave a Comment

Building on the research summarized in an earlier post "The Value of Surplus Cash", we assembled the … [Read more]

The Value of Surplus Cash

July 6, 2014 by Hans Tallis 2 Comments

Optimizing financing policy includes deciding how much liquidity a company should carry.  In this … [Read more]

Corporate Finance Analysis: 10 Deadly Sins

May 24, 2014 by Hans Tallis Leave a Comment

We're all guilty of these, at different times and in different ways.  The cause is usually laziness … [Read more]

Convertible Bond WACC

January 3, 2014 by Hans Tallis 1 Comment

Though we're not fans of the CAPM definition of risk, the framework is widely known and serves as a … [Read more]

CAPM Is More Broken Than We Thought

June 16, 2013 by Hans Tallis 2 Comments

Do you remember that feeling you got when you heard there wasn't a Santa Claus?  How about when you … [Read more]

Share Repurchase and a Heterogeneous Investor Base

September 7, 2012 by Hans Tallis 1 Comment

In a recent post, Felix Salmon suggests that Dell has done a disservice to its equity investors: A … [Read more]

Adjust Valuation Multiple for Growth

July 20, 2012 by Hans Tallis 1 Comment

If one equity is valued at 15x P/E, and another at 10x P/E, is the latter a bargain?  To answer this … [Read more]

Share Repurchase Literature Survey

June 23, 2012 by Hans Tallis Leave a Comment

This post is a quick survey of recent literature regarding share repurchases.  We look at who … [Read more]

What Does a Share Buyback .. Buy?

March 18, 2012 by Hans Tallis 2 Comments

Answer:  nothing. If you invest in a private equity fund, the general partner is tasked with … [Read more]

Optimal Capital Structure with Business Disruption Costs

February 18, 2012 by Hans Tallis 2 Comments

In an earlier post we showed that, for a tax-paying firm, WACC is always a declining function of … [Read more]

Use Distance-Based Peer Analysis

February 9, 2012 by Hans Tallis Leave a Comment

In an earlier post we saw how peer analysis can mislead.  In this post we suggest a better method: … [Read more]

How To Mislead with Peer Analysis

February 9, 2012 by Hans Tallis 1 Comment

Peer analysis can provide a cross check for the recommendations we derive from more normative … [Read more]

Share Repurchase Myths

February 2, 2012 by Hans Tallis 2 Comments

There's a surprising amount of misleading writing about capital distribution, and in particular the … [Read more]

The Economic Irrelevance of Distribution Form

January 31, 2012 by Hans Tallis 2 Comments

A recent article in the Economist suggests that managers with exposure to their firm's share price … [Read more]

The End of Dividends

January 18, 2012 by Hans Tallis 1 Comment

Once the dominant form of capital return, regular dividends have been in secular decline since the … [Read more]

A Process for Quantitative Analysis

January 10, 2012 by Hans Tallis Leave a Comment

Though quantitative analysis is interesting in its own right, we expect its practice to become more … [Read more]

Consider Behavioral Finance

January 10, 2012 by Hans Tallis Leave a Comment

Behavioral finance is a great field, no doubt, and deserved its 2002 Nobel prize.  The difficulty … [Read more]

Mislead with Regression Analysis

December 27, 2011 by Hans Tallis 1 Comment

There are lies, damn lies, statistics, and regression analyses.  In this post we'll examine some of … [Read more]

  • 1
  • 2
  • Next Page »

Top Posts & Pages

  • Adjust Valuation Multiple for Growth
  • Calculate WACC With Debt Beta

Archives

Cookbook

  • Cookbook (24)
    • Capital Allocation (3)
    • Capital Return (5)
    • Debt Capacity (3)
    • Quantitative Analysis (11)
    • Statistics (1)
    • Sustainable Company Modeling (1)
  • Housekeeping (1)

Miscellany

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

RSS Feed

RSS feed RSS - Posts

RSS feed RSS - Comments

Subscribe to QCF via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.