Homework: draw CTL for AG EFq and EG AFq.
Minimal set of CTL: EX, EG, EU. Fixed point algorithm to check mdel expressed as minimal CTL. Break the formula into parts. Fixed point algorithms.
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Homework: draw CTL for AG EFq and EG AFq.
Minimal set of CTL: EX, EG, EU. Fixed point algorithm to check mdel expressed as minimal CTL. Break the formula into parts. Fixed point algorithms.
Composed and transmitted from my iPod Touch
Lecturer is now answering questions a head of the test.
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Consultation: enough time, reality, genuine effort, intermediate situation, informed, multiple solutions. Talk to the Hapu not the Iwi. The Iwi will see the approach as a threat. The Hapu manages the land so it's more appropriate to negotiate with them.
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DSP are good data processors but are bad control processors. Merge with general processors.
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Indigenous views versus western views. Western views are more concerned with extracting maximum value and money. Indigenous views are more concerned with the interaction of nature and its binding forces.
Maori environmental resource management passed onto generations as mythical stories that are memorable to the children. Whakapapa: Maori genealogy of the environment.
Mauri is the binding lifeforce and intrinsic values of ecosystems: social, economic, environmental, cultural. A distinction between using NPV calculations to make a sustainablility decision because long term effects are not taken into account.
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Return in bonds can be calculated by constant growth model but it is not the preferred model. Bonds should be valued by the yield to maturity.
Karen has forgotten to turn off the sound of her macbook therefore she is too scared to turn it on...
Preferred stocks are valued by the perpetuity model because the dividend is assumed to be constant and expected.
Lecturer is going through a Weighted Average Cost of Capital example. Calculate the percentage of capital from the different sources. Calculate the return from each source. Bonds are taxed. Multiple each weight with it's respective return.
CAPM: Capital asset pricing model. Calculated from face value of return with a multiple of the risk premium added on.
WACC should only be used if the project is a "carbon copy" of the firm. If that is the case then only invest in a project I it's IRR is greater than the return demanded by debt. Carbon copy meaning the nature of the project being very similar to the firm's normal operations.
Increasing debt will increase financial risk, lenders demand higher return, shareholders may require higher return. The WACC may actually increase because the debt no longer remains cheap.
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