assignmentutor-lab™ 为您的留学生涯保驾护航 在代写股权市场Equity Market方面已经树立了自己的口碑, 保证靠谱, 高质且原创的统计Statistics代写服务。我们的专家在代写股权市场Equity Market股权市场Equity Market相关的作业也就用不着说。

• Statistical Inference 统计推断
• Statistical Computing 统计计算
• Advanced Probability Theory 高等楖率论
• Advanced Mathematical Statistics 高等数理统计学
• (Generalized) Linear Models 广义线性模型
• Statistical Machine Learning 统计机器学习
• Longitudinal Data Analysis 纵向数据分析
• Foundations of Data Science 数据科学基础

## 金融代写|股权市场代写Equity Market代考|The Value Triangle

As of 2018, the Ford Motor Company operated in dozens of countries, with around 75 production facilities on five continents and tens of thousands of dealers. It employed over 166,000 people to design, produce, and sell hundreds of different products and services, to millions of customers, generating a continuous stream of cash flows, profits, and dividends and providing the fuel for innovation and reinvestment to allow for future cash flows to continue and hopefully to grow. The company buys, sells, invests, divests, and distributes various assets continuously, transacting in many currencies and under many systems of commercial and financial regulation around the world. Its fortunes are constantly in flux, depending on its strategic choices (and those of its competitors) and on the changes in its economic environment (trends in regulation, business cycles, credit conditions). Ford’s value is not just a function of the present moment; it incorporates a broad horizon of expectations regarding the future performance of the company and future states of its environment.
How then should we calculate the value of Ford’s business?
We begin with three “snapshots” which capture different aspects of Ford’s enterprise value – often referred to as Book, Model, and Market:

• Book: Drawn from the balance sheet, the list of the assets (and offsetting liabilities) that Ford currently owns, from which we derive the company’s “book value.”
• Model: Starting with the income statement as a simplified model of the Ford’s ongoing operations, linking the various streams of revenues, expenses, earnings, and cash flows – elaborate financial models can be developed to forecast and value future earnings performance.
• Market: The market price of Ford’s stock, as set and reset constantly by investors, traders, and market makers – which represents the market’s current appraisal of the company’s value.
Each approach is flawed in important ways.

## 金融代写|股权市场代写Equity Market代考|Accounting Valuations

Accounting was developed in the preindustrial era, not as a valuation technique per se, but as a method for keeping track of commercial transactions (the bookkeeping function). As large public companies emerged and began to require formal financial reports for shareholders, creditors, and tax authorities, and for management purposes, accountants extended their methods to try to capture the value of corporate assets and liabilities in a standardized and verifiable format, and the modern balance sheet was developed. Thus, today, as we all know, “assets minus liabilities” equals Book Value (also called Net Assets or Equity). For a long time, this simple formula was sufficient to value a business.

No longer. Public accounting today is a field in crisis. It fails to recognize the key assets that actually generate most of a modern company’s earnings and drive the appreciation of its share price. This becomes clear by comparing Book Value with Market Value (market capitalization, that is, the value of the company’s outstanding shares of stock, its equity value). In principle, both aim to measure the same thing – the residual value of the business net of its liabilities. Both often carry the same label – “Equity” – although they are derived from very different sources. And indeed, until about 1985 , Book and Market were in general agreement: the average Market-to-Book ratio (called “Price-to-Book,” or P/B) ${ }^{1}$ across the economy was approximately 1 to 1 . (Market Value trended slightly higher, but this was usually explained as a symptom of investors’ “animal spirits” or overoptimism accountants relied on their disciplined methods to keep these emotions in check.)

Then, beginning in the mid-1980s, these two measures began to diverge. The $\mathrm{P} / \mathrm{B}$ ratio climbed from near parity to as high as 7:1 and has ranged between $2.5$ and 5 over most of the last 30 years. ${ }^{2}$ (See Figure 2-1.) Individual companies often have much higher Priceto-Book ratios. Apple’s $\mathrm{P} / \mathrm{B}$ is $7.3$ to $1 .{ }^{3}$ Facebook is $6.8$ to 1 . Chipmaker Nvidia is $19.5$ to 1. Amazon is $27.5$ to 1 . The phenomenon is not limited to technology companies. CocaCola has a Price-to-Book ratio of $10.5$ to $1 .$ Pepsi is higher – $12.7$ to 1 . Kellogg’s is $9.4$ to 1 . Starbucks is $14.0$ to 1 . Marriott Hotels is $13.3$ to $1 .$

# 股权市场代考

## 金融代写|股权市场代写Equity Market代考|The Value Triangle

• 账面：从资产负债表中提取，福特目前拥有的资产（和抵消负债）清单，我们从中得出公司的“账面价值”。
• 模型：从损益表作为福特持续运营的简化模型开始，将各种收入、支出、收益和现金流联系起来——可以开发出精细的财务模型来预测和评估未来的收益表现。
• 市场：福特股票的市场价格，由投资者、交易员和做市商不断设定和重置——代表市场对公司价值的当前评估。
每种方法都在重要方面存在缺陷。

## 有限元方法代写

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## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。

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