Advantages and Limitations of VaR
The following are some of the advantages and limitations of the VaR. Advantages... Read More
Reading 18: Analysis of Dividends and Share Repurchases
-d. Explain how agency costs may affect a company’s payout policy;
-e. Explain factors that affect dividend policy in practice;
-h. Compare share repurchase methods;
-j. Calculate the effect of a share repurchase on book value per share;
-k. Explain the choice between paying cash dividends and repurchasing share;
-l. Describe broad trends in corporate payout policies;
-m. Calculate and interpret dividend coverage ratios based on 1) Net income and 2) Free cash flow;
-n. Identify characteristics of companies that may not be able to sustain their cash dividend;
Reading 19: Environmental, Social, and Governance (ESG) Considerations in Investment Analysis
-b. Evaluate the effectiveness of a company’s corporate governance policies and practices;
-d. Evaluate ESG risk exposures and investment opportunities related to a company;
Reading 20: Cost of Capital: Advanced Topics
-a. Explain top-down and bottom-up factors that impact the cost of capital;
-b. Compare methods used to estimate the cost of debt;
-c. Explain historical and forward-looking approaches to estimating an equity risk premium;
-d. Compare methods used to estimate the required return on equity;
-e. Estimate the cost of debt or required return on equity for a public and a private company;
-f. Evaluate a company’s capital structure and cost of capital relative to peers;
Reading 21: Corporate Restructuring
-a. Explain types of corporate restructurings and issuers’ motivations for pursuing them;
-b. Explain the initial evaluation of a corporate restructuring.;
-f. Evaluate corporate divestment actions, including sales and spin offs;
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2021-01-07
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