Search results for: project-finance-in-theory-and-practice

Project Finance in Theory and Practice

Author : Stefano Gatti
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Project Finance in Theory and Practice: Designing, Structuring, and Financing Private and Public Projects, Third Edition presents a set of topics that can be applied to any project financing task. It includes essential, core material for project finance, offering new insights about Sharia-compliant instruments and a comprehensive overview of the current state of the international regulation of banking post financial crisis. This updated edition includes new case studies and topics related to country risk, along with insights from project finance experts who share their specialized knowledge on legal issues and the role of advisors in project finance details. The book is useful for readers at all levels of education and experience who want to learn how to succeed in project finance. Expanded by almost 10%, the Third Edition presents three new cases, one from outside Europe Addresses human rights and sustainability issues, in particular the Equator Principles for determining, assessing, and managing environmental and social risk in projects Expands its treatment of guarantee mechanisms that governments are increasingly providing to private developers to attract private capital

Corporate and Project Finance Modeling

Author : Edward Bodmer
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A clear and comprehensive guide to financial modeling and valuation with extensive case studies and practice exercises Corporate and Project Finance Modeling takes a clear, coherent approach to a complex and technical topic. Written by a globally-recognized financial and economic consultant, this book provides a thorough explanation of financial modeling and analysis while describing the practical application of newly-developed techniques. Theoretical discussion, case studies and step-by-step guides allow readers to master many difficult modeling problems and also explain how to build highly structured models from the ground up. The companion website includes downloadable examples, templates, and hundreds of exercises that allow readers to immediately apply the complex ideas discussed. Financial valuation is an in-depth process, involving both objective and subjective parameters. Precise modeling is critical, and thorough, accurate analysis is what bridges the gap from model to value. This book allows readers to gain a true mastery of the principles underlying financial modeling and valuation by helping them to: Develop flexible and accurate valuation analysis incorporating cash flow waterfalls, depreciation and retirements, updates for new historic periods, and dynamic presentation of scenario and sensitivity analysis; Build customized spreadsheet functions that solve circular logic arising in project and corporate valuation without cumbersome copy and paste macros; Derive accurate measures of normalized cash flow and implied valuation multiples that account for asset life, changing growth, taxes, varying returns and cost of capital; Incorporate stochastic analysis with alternative time series equations and Monte Carlo simulation without add-ins; Understand valuation effects of debt sizing, sculpting, project funding, re-financing, holding periods and credit enhancements. Corporate and Project Finance Modeling provides comprehensive guidance and extensive explanation, making it essential reading for anyone in the field.

Project Finance in Theory and Practice

Author : Stefano Gatti
File Size : 80.40 MB
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Project finance is a fast-growing area of capital investment for major infrastructure and other large projects. Financing such projects as EuroDisney, airports, highways, tunnels, schools, hospitals, and other large projects presents a complex and interesting challenge that the specialty of project finance takes on wholeheartedly, combining financial engineering with legal and contractual expertise to develop various financing options. In this book, Stefano Gatti of Bocconi University describes the theory that underpins this cutting-edge industry, and then provides illustrations and examples from actual practice to illustrate that theory. At key points in the book, Gatti brings in other project finance experts who share their specialized knowledge on the legal issues and the role of advisors in project finance deals. Forword by William Megginson, Professor and Rainbolt Chair in Finance, Price College of Business, The University of Oklahoma Comprehensive coverage of theory and practice of project finance as it is practiced today in Europe and North America

Project Finance in Theory and Practice 2nd Edition

Author : Stefano Gatti
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This book presents comprehensive coverage of project finance in Europe and North America. The Second Edition features two new case studies, all new pedagogical supplements including end-of-chapter questions and answers, and insights into the recent market downturn. The author provides a complete description of the ways a project finance deal can be organized-from industrial, legal, and financial standpoints-and the alternatives available for funding it. After reviewing recent advances in project finance theory, he provides illustrations and case studies. At key points Gatti brings in other project finance experts who share their specialized knowledge on the legal issues and the role of advisors in project finance deals. *Forword by William Megginson, Professor and Rainbolt Chair in Finance, Price College of Business, The University of Oklahoma *Comprehensive coverage of theory and practice of project finance as it is practiced today in Europe and North America *Website contains interactive spreadsheets so that readers can input data and run and compare various scenarios, including up to the minute treatment of the cutting-edge areas of PPPs and the new problems raised by Basel II related to credit risk measurement.

Studyguide for Project Finance in Theory and Practice Designing Structuring and Financing Private and Public Projects by Stefano Gatti ISBN 9780123919465

Author : Cram101 Textbook Reviews
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Never HIGHLIGHT a Book Again! Virtually all of the testable terms, concepts, persons, places, and events from the textbook are included. Cram101 Just the FACTS101 studyguides give all of the outlines, highlights, notes, and quizzes for your textbook with optional online comprehensive practice tests. Only Cram101 is Textbook Specific. Accompanys: 9780123919465 .

Principles of Project Finance

Author : E. R. Yescombe
File Size : 55.88 MB
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This introduction for practitioners offers a balanced view of project financing, integrating legal, contractual, scheduling, and other areas that participate in large multiparty projects, large single-asset purchases, and broad-based financing programs for fleets of assets. It mixes theories and case studies but avoids becoming too oriented toward applications in any one particular industry. It focuses on the concepts and techniques required by project finance people without being overly academic or beset by case studies. The author, who has a legal background, recognizes that some legal information is necessary, but he doesn't attempt to write a law book. Project Finance refers to the techniques of financing projects which are dependent on cash flows for repayment, as defined by the contractual relationships within each project. By their very nature, these types of projects rely on a large number of integrated contractual arrangements for successful completion and operation. Project finance is an element within the larger field of project management. Many organizations around the world utilize project management to enable innovative processes, to plan, organize, and control strategic initiatives, to monitor enterprise performance, to analyze significant deviations, and to forecast their impact on the organization and project(s). Project management can be found in many industries today, from construction and information systems to healthcare, financial services, education, and training. A comprehensive and authoritative guide to the theory and practice of project finance An international scope, covering projects in both the developed and developing worlds The book describes and explains: Sources of project finance Typical commercial contracts (such as those for construction of the project and sale of its product or services) and their impact on the project finance structure Project finance risk assessment from the points of view of lenders, investors, and other project parties Structuring the project finance debt The key issues in negotiating a project finance debt facility Extensive glossary and cross-referencing No prior knowledge of project finance or financing techniques is assumed

Corporate Finance

Author : S R Vishwanath
File Size : 74.53 MB
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This—revised and enhanced—book examines the role of finance in supporting other functional areas while fostering an understanding of how financial decisions can create value. Corporate Finance covers areas related to estimating divisional cost of capital; executing a financing strategy; establishing debt and dividend policies consistent with the company`s strategy and environment; choosing between dividends and stock repurchases; managing high growth and managing working capital. Its new topics include: - Corporate Financial Flexibility (Real options) - New Financial Instruments - Project Finance - Acquisitions and Control - Performance Measurement and Incentive Compensation The goal of this book is to provide a thorough understanding of how and why firms make their financial decisions the way they do and their impact on shareholder value. The central theme of the book is Value Based Management, which assumes that maximizing shareholder value is the governing objective of a firm. Each chapter of this new edition has detailed and real-life cases to help students easily understand and grasp concepts. The author has also provided the case-map of the Harvard Business School to make this book more user-friendly in classrooms. The inclusion of several new topics/cases, extensive pedagogical tools and a finance-for-non-finance approach make this book ideal for MBA/CA/CFA/ICWA students and executive education programs.

Project Finance for the International Petroleum Industry

Author : Robert Clews
File Size : 41.49 MB
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Project Finance for the International Petroleum Industry provides an overview of project finance in the oil and gas industry, covering financial markets, sources and providers of finance, financial structures, and capital raising processes. With about US $300 billion of project finance debt raised annually across several capital intensive sectors-including oil and gas, energy, infrastructure, and mining-the oil and gas industry represents 30% of the global project finance market. Author Robert Clews, EMEA Head of Oil, Gas, and Petrochemicals Project Finance for Sumitomo Mitsui Banking Corporation, explores project finance techniques and their effectiveness in the international petroleum industry. His case studies highlight petroleum industry players, risks, economics, and commercial/legal arrangements. With petroleum industry projects among the largest industrial activities in the world, this book ties together concepts and tools through real examples. It ensures that project finance will continue to play a central role in bringing together investors and lenders to finance these types of ventures. Combines the theory and practice of raising long-term funding for capital intensive projects with insights about the appeal of project finance to the international and oil and gas industry Includes case studies and examples covering projects in the Arctic, East Africa, Latin America, North America, and Australia Emphasizes the full downstream value chain of the industry instead of limiting itself to upstream and pipeline project financing Highlights petroleum industry players, risks, economics, and commercial/legal arrangements

Corporate Finance

Author : Aswath Damodaran
File Size : 27.94 MB
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Aswath Damodaran is nationally recognized for his teaching approach, using theory and the models that flow from it to understand, analyze and solve problems. He treats corporate finance as a living discipline by making it much more applied than other textbooks. Throughout the text, real companies and real data are used in examples and exercises.

Modern Project Finance

Author : Benjamin C. Esty
File Size : 28.55 MB
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This cutting-edge financial casebook is divided into four modules: Structuring Projects, Valuing Projects, Managing Project Risk, and Financing Projects. The cases have been carefully selected to reflect actual use of project finance over the past five years in terms of geographic location (the cases come from 15 different countries) and industrial sectors. * Benjamin Esty, of the Harvard Business School, is one of the leading scholars in project finance. * Project finance is becoming the financing mechanism of choice for many private firms. * Cases require the reader to integrate knowledge from multiple disciplines when making a single managerial decision. This integration of functional areas such as strategy, operations, ethics, and human resource management encourages the reader to adopt a more integrative perspective and understanding of the interconnectedness of managerial decision-making.

Renewable Energy Finance

Author : Santosh Raikar
File Size : 64.82 MB
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Renewable Energy Finance: Theory and Practice integrates the special characteristics of renewable energy with key elements of project finance. Through a mixture of fundamental analysis and real-life examples, readers learn how renewable energy project finance works in actual deals that mix finance, public policy, legal, engineering and environmental issues. The skills developed in analyzing non-recourse cash flow-based finance are applicable not only to green energy, but also apply more widely in project finance and infrastructure investing. The book's comparisons of developed and developing countries make it valuable to readers worldwide. Presents real world cases in each chapter Includes a companion website that contains renewable energy project finance models and other resources Supports efforts to achieve environmental sustainability through renewable financing projects and cleaner production techniques

International Banking in Theory and Practice

Author : Yoon S. Park
File Size : 54.63 MB
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Introduction to Project Finance in Renewable Energy Infrastructure

Author : Farid Mohamadi
File Size : 74.16 MB
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What is project finance? What makes project or structured finance so relevant for large renewable energy infrastructure? Which vocabulary do I need to know in order to speak the same language during meetings with lawyers, investors, bankers and engineers? These questions and many more are answered throughout this book, offering real world examples to bridge the gap between theory and practice. The book details the role of each stakeholder in the development of renewable energy projects, the interconnection between all the agreements, the financial process from fundraising to financial close, the processes of due diligence, risk analysis, project investment valuation and much more. It also provides with an introduction to Portfolio Management using renewable energy assets and an explanation of the role of Climate Finance in green energy investments. The commented glossary enables readers to unpick the jargon used in project finance for renewable energy, and the numerous creative figures and comprehensive tables aid with understanding. Offering a complete picture of the discipline, Introduction to Project Finance in Renewable Energy Infrastructure will be of value to professionals, engineers and academics alike interested in understanding the process and components of project finance in renewable energy infrastructures, in both private and public-private contexts.

Project Finance in Emerging Markets

Author : Niccolò Viti
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Thesis (M.A.) from the year 2014 in the subject Business economics - Investment and Finance, grade: 105, University of Siena, course: MSc in Finance, language: English, abstract: Project Finance approach is an important financing mechanism because of its intrinsic features and differences with respect to the conventional corporate finance. It has experienced a rapid development and growth in the last decades both in developed and developing countries. The aim of this dissertation is to study and deepen the Project Finance in Emerging Markets framework. After a brief introduction of the main general features of this approach, it will focus on the developing countries context: the historical evolution overview, the risks evaluation, the international institutions involved and the economic impact of project finance in this scenario. Furthermore, financial feasibility study will be conducted in order to evaluate a project over several financial and economic aspects. Finally, all these theoretical issues will be empirically applied to the PMESA case study. It regards a hydroelectric power plant built in Brazil in the early 2000s through the project finance approach. The project evaluation is time located in these years because Brazil was considered an emerging market and it presented some peculiar economic and financial characteristics.

Theory and Practice of Islamic Finance

Author : Swee-Hock Saw
File Size : 27.41 MB
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Towards a Theoretical Foundation of Project Finance and Its Practice in South Africa

Author : David Rabinowitz
File Size : 87.99 MB
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The academic research into Project Finance lags far behind the practice of it. Project Finance, with limited or non recourse debt as its defining characteristic, has been growing tremendously since 2001 and is set to grow even further. This is due to the massive spend in infrastructure both globally and in South Africa, the need for private sector involvement and the limited capacity of corporations' balance sheets to fund such projects. Given this setting, this research aims to act as a catalyst for the development of a theoretical foundation of Project Finance in South Africa and to encourage further research. There were two phases to the research. The first phase consisted of an analysis of twenty two case studies on international projects that have used Project Finance, with the aim of extracting theories, principles and lessons that can be used to form a theory base. The second phase consisted of sixteen interviews with South African Project Finance industry experts, based on the theory from phase one, with the aim of exploring the current state of South African Project Finance. The first phase resulted in a broad description of the theory of Project Finance that can be used as an introduction to Project Finance or as a base for further research. The second phase produced a portrayal of South African Project Finance as it relates to the theory with specific recommendations for further research into Project Finance in South Africa. Copyright.

Machine Learning in Finance

Author : Matthew F. Dixon
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This book introduces machine learning methods in finance. It presents a unified treatment of machine learning and various statistical and computational disciplines in quantitative finance, such as financial econometrics and discrete time stochastic control, with an emphasis on how theory and hypothesis tests inform the choice of algorithm for financial data modeling and decision making. With the trend towards increasing computational resources and larger datasets, machine learning has grown into an important skillset for the finance industry. This book is written for advanced graduate students and academics in financial econometrics, mathematical finance and applied statistics, in addition to quants and data scientists in the field of quantitative finance. Machine Learning in Finance: From Theory to Practice is divided into three parts, each part covering theory and applications. The first presents supervised learning for cross-sectional data from both a Bayesian and frequentist perspective. The more advanced material places a firm emphasis on neural networks, including deep learning, as well as Gaussian processes, with examples in investment management and derivative modeling. The second part presents supervised learning for time series data, arguably the most common data type used in finance with examples in trading, stochastic volatility and fixed income modeling. Finally, the third part presents reinforcement learning and its applications in trading, investment and wealth management. Python code examples are provided to support the readers' understanding of the methodologies and applications. The book also includes more than 80 mathematical and programming exercises, with worked solutions available to instructors. As a bridge to research in this emergent field, the final chapter presents the frontiers of machine learning in finance from a researcher's perspective, highlighting how many well-known concepts in statistical physics are likely to emerge as important methodologies for machine learning in finance.

The Theory and Practice of Real Estate Finance

Author : Terrence M. Clauretie
File Size : 57.70 MB
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The Law and Business of International Project Finance

Author : Scott L. Hoffman
File Size : 75.60 MB
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This 2007 third edition continues to be a comprehensive and authoritative guide to the business, practice, law, and practical use of project finance. It covers the complete project finance structure, from conception to negotiation to debt closing, and from project difficulties to successful restructuring. The book continues to be accessible to those with little experience in project finance, while maintaining the insight and detail of previous editions that has made it a valuable reference for the experienced lawyer, manager, banker, contractor, and government official. This edition focuses on a real-world, practical approach to project finance, without the overuse of case studies and economic theory. Yet the contract forms, detailed glossary, index, and project finance bibliography make it a complete text.

Real Options in Theory and Practice

Author : Graeme Guthrie
File Size : 50.78 MB
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Decision-makers in business and economics face a staggering array of problems. For example, managers of growing firms have to decide when to expand their business, governments have to decide whether to undertake large infrastructure investments, and managers of oil firms must decide how rapidly to deplete their reserves. While these problems seem quite diverse, they all share many important features. In each case, the decision-maker must choose when to take a particular action that will be potentially impossible to reverse, and the consequences of taking (or not taking) that action are uncertain. Also, the timing and nature of these actions directly affect the cash flows generated by the entities they manage. This book explains how techniques originally developed to price financial derivatives can be used to analyze real-world decisions, and provides the tools necessary to put them into practice. The real options analysis approach to decision-making is built on strong theoretical foundations, and is widely discussed in practitioner literature, but often only at a fairly intuitive level. What practitioners need-and what this book delivers-is a structured approach to systematically applying real options analysis to the wide variety of problems they will meet in business and economics. Real Options in Theory and Practice focuses on building up a general approach to solving real options problems from the ground up. Rather than aiming to build a "black box" to solve a small set of standardized real options problems, it describes the building blocks of any successful real options analysis and shows how they can be assembled in a way that is appropriate to the problem being analyzed. For both practitioners and academics, Real Options in Theory and Practice will serve as an authoritative and invaluable resource for those looking for effective and practical solutions to complex, real-life problems.