Praise for Fourth Edition of Cost of Capital Workbook and Technical
Supplement
"Pratt and Grabowski went the extra mile to supplement their
magnum opus by providing this Workbook and Technical Supplement. As
a finance professor for many years, I know from experience that
students and teachers really value supplements to textbooks. It
allows the teacher to help the student to review and apply what was
presented in the text, and the PowerPoints are a great service to
teachers in course preparation. The website provides various
worksheets that show the inner workings of the models. I
enthusiastically recommend the "Workbook and Technical Supplement"
to finance professors and teachers and their students.
--Daniel L. McConaughy, PhD, ASA, Professor of Finance, California
State University, Northridge, Valuation Services, Crowe Horwath
LLP
"The "Workbook and Technical Supplement" provides a detailed
tutorial on understanding and executing the theoretical concepts
explained in the Fourth Edition. This supplement is three books in
one. Part One is a step-by-step tutorial on estimating certain key
components of the cost of equity capital. Part Two provides a
bridge between the theory and some practical applications, such as
estimating the cost of capital for real property. Parts Three and
Four allow the readers to test their comprehension of the concepts
and identify areas for a review. It is almost as good as having
Professors Pratt and Grabowski looking over your shoulder to ensure
that one is both comprehending and correctly implementing the
complex concepts.."
--Ashok Abbott, PhD, Associate Professor of Finance, College of
Business & Economics, West Virginia University
"This text provides the most comprehensive coverage of cost of
capital issues that I have seen to date. Messrs. Pratt and
Grabowski have created a very accessible and lucid treatment of
what most would consider an opaque subject. The "Fourth Edition" is
especially important for its new topics as well as expanded
coverage of concepts from earlier editions. Of particular interest
is the review of the extreme market conditions during the 2008-2009
crisis and the effect that the unprecedented volatility had on
traditional cost of capital models. For years, Pratt and
Grabowski's research has informed the business valuation curriculum
of the American Society of Appraisers. This book will be added to
our reading list, and thousands of students worldwide will benefit
from the state?of?the?art content of the "Fourth Edition" and the
companion "Workbook and Technical Supplement." Furthermore, Cost of
Capital, Fourth Edition should be a mandatory part of every
valuation practitioner's library. If you buy this book, you can
expect it to become well worn and remain on your desk within arm's
length until the publication of the "Fifth Edition.""
--John Barton, ASA, CPA, Chairman, Business Valuation Committee,
ASA
"Cost of capital is so much more complex than it used to be.
With so many additional considerations regarding each variable of
the cost of capital formula, this book is a must for anyone that
needs to understand or develop a discount rate. Even the most
experienced practitioner will benefit from the outstanding work of
Pratt and Grabowski. This book has to become part of your
library."
--Gary R. Trugman, CPA/ABV, MCBA, ASA, MVS, President, Trugman
Valuation Associates, Inc.
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