Coming soon to the world’s leading bookseller

A definitive treatment of international cost of capital estimation for the serious finance professional, providing a comprehensive and practical guide to state-of-the-science theories, empirical methods, and principles: Expected in print: Mid-4th quarter, 2018. Malcolm McLelland…

An idiosyncratic view on ICC estimation methods

Regarding international cost of capital (ICC) estimation … I became involved in valuation via M&A transaction advisory services for mid-market industrial companies circa 1990. Because I was based in the Midwestern USA, many clients were…

What all valuation professionals need to know about IPCPL

In the valuation profession, there have been long-standing, unproductive arguments about how best to estimate something called the discount for lack of marketability (DLOM) for assets traded only in private capital markets.  In contrast, estimation…

What all finance professionals need to know about international cost of capital

In his book, “A Theory of Global Capitalism: Production, Class, and State In a Transnational World” published in 2004, the well-known sociologist William I. Robinson documents the how increasing global capital mobility has resulting in…

International cost of capital estimation

You are a well-trained finance professional working in a globalized capital market environment. You need to know the basics of estimating international cost of capital. All that is required to develop accurate, reliable estimates of…

Exactly what we do, how, and why

“Financial economics” is a fairly opaque term and does not explain clearly what we do at McLelland + Palazzi | Financial economics.  We’ve had many questions recently about what we do for our clients and,…

BRIC agricultural yields: Growth factor effects

In my previous article “BRIC agricultural yields: Trends and theory“, I presented a number of graphs showing both BRIC country yield trends for maize, soybean, and sugarcane crops and posed a number of questions about…

BRIC agricultural yields: Trends and theory

Although BRIC countries (Brazil, Russia, India, and China) have quickly developed modern diversified economies over the last 20-30 years, agriculture remains an important part of their economies.  If one believes food self-sufficiency is beneficial to…

Zero-based budgeting methods

Consider the following two equations: Seriously; do it now before reading further.  One equation represents the essence of traditional static budgeting, and the other represents that of flexible zero-based budgeting.  Now click on and consider…

Brazil’s economy (Part 4): Government spending

Much has been said in the financial economic press about Brazilian government spending in recent years.  In many cases the articles criticize excessive government spending, and more recently–and from different ideological quarters–articles tend towards criticism…