
John Martin Wachowicz, Jr.University of Tennessee at Knoxville | UTK · Department of Finance
John Martin Wachowicz, Jr.
Ph.D., CPA
About
22
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Introduction
John M. Wachowicz, Jr., is Professor Emeritus, Finance at The University of Tennessee, Knoxville. He is co-author with Professor James Van Horne of Stanford University of Fundamentals of Financial Management, 13/e, FT/Pearson Education Ltd. (2009).
Additional affiliations
August 1977 - June 2016
Publications
Publications (22)
This paper develops an Excel model – useful to students, academics, and business professionals - that values the impact of government driven increases in temporary first-year depreciation allowances, known as bonus depreciation. Bonus depreciation is a temporary measure that has been used as a tool to stimulate economic activity by directly affecti...
The paper assists the user of DCF methods by clearly setting forth the relationship of free-cash-flow (FCF) and economic value added (EVA™) concepts to each other and to the more traditional applications of DCF thinking. We follow others in demonstrating the equivalence between EVA and NPV, but our approach is more general in that it links the prob...
According to recent surveys, most companies use discounted-cash-flow (DCF) methods to evaluate capital budgeting decisions. DCF methods typically assume that a project’s initial cash outlay (ICO) is known with certainty. However, many types of initial outlays have substantial uncertainty, especially those involving the construction of a new facilit...
Many financial analysts and investors believe that measures of cash flow are extremely useful when analyzing the financial health and prospects of a company. In recent years, a measure called “free cash flow” has become widely used. However, many different definitions and ways to calculate free cash flow are currently being used. Rather than relyin...
y annuity (FVGA) answers questions like the following: "If R 1 dollars, increasing each year at an annual rate g, are deposited in an account at the end of each year for n years, and if the deposits earn interest rate i compounded annually, what will be the value of the account at the end of n years?" FVGA = R 1 (FVIFGA i,n,g ) (1) (1 + i) - (1 + g...
Investors like to get paid for taking on the extra risk of the stock market. If your portfolio is riskier than average, you should get paid for that, too. This article discusses risk levels, as measured in "beta," to help you judge whether or not your portfolio is out performing the market.
Portfolio construction and evaluation must be consistent with investors' expected holding periods. In measuring investment risk and return, beta can be used in determining a security's volatility in relation to the market's volatility. The capital asset pricing model, wherein beta serves as an index of a security's systematic risk, shows the precis...
Focuses on the tactical asset allocation (TAA) portfolio management strategy. Features of the TAA; Reasons for its growing popularity; Benefits for the investor; Potential for success from an individual's point of view.
This paper Identifies situations in which the widely recommended procedures for evaluating mutually exclusive projects with unequal lives may result in incorrect project rankings. These situations arise from the failure of conventional techniques to place alternatives on an appropriate equivalent-risk basis and may occur whether a net present value...
This paper examines the demand for municipal bond insurance in the context of a competitive signaling equilibrium model. The study compares the pricing of new bond issues that are insured to similar issues that are not insured. The results indicate that issuers who purchase bond insurance, on average, are able to reduce their new issue borrowing co...
The coefficient of variation (CV) in investment returns is often presented in introductory finance texts as a measure of project risk [7, 9, 13, 15]. Curiously, the resulting mean-coefficient of variation (MCV) efficiency criterion is usually casually proposed as an alternative to the more widely recommended mean-standard deviation (MSD) definition...
Focuses on the use of the coefficient of variation as a risk measure of investment in the U.S. In using the coefficient of variation as a risk measure, it provides a partial reconciliation among several investment criteria. This reconciliation results from noting that the coefficient of variation possesses special significance by virtue of its simu...
Many observers believe that there should be a strong positive relationship between institutional trading and stock price volatility. Since institutions trade in large blocks, they
reason that such a pattern of trading causes a decline in the liquidity of securities markets
and, hence, an increase in stock price volatility. A prior study by one of t...
Traducción de: Fundamentals of Financial Management Tr. de la 8a ed. en inglés
Traducción de: Fundamentals of Financial Management Tr. de la 11a ed. en inglés
Typescript. Thesis--University of Illinois at Urbana-Champaign. Vita. Includes bibliographical references (leaves 180-183).
Traducción de: Fundamentals of financial management Incluye bibliografía e índice