Still Many Ways to Skin a Capital Cost
Harvard Business Review
MARCH 10, 2011
For instance, if you had recently run a discounted cash flow, or DCF, valuation on the UK-based mobile phone giant Vodafone, you would have found that changing the discount rate from 12% to 11.6% — hardly a major change — would have increased the company's estimated value by 15%, or £13.4 The same is true for the CAPM. ".
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