BAV cross word

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Across
  1. 3. For an unlevered firm, the free cash flow to the firm is………………….to the free cash flow to equity.
  2. 5. An option to ……………………………….. provides a company with the flexibility to increase the scale of a project in the future when the initial project is performing well.
  3. 7. ………………….cash flows that are considered relevant to the valuation of a project, being only those that are a direct result of the acceptance of an investment?
  4. 9. If the cash flows in the valuation exercise for a levered firm is FCFF, the discount rate should be the cost of -------------------------.
  5. 12. Private equity investments are ……………. and illiquid and thus require high returns.
  6. 14. Porter’s five forces model evaluates the profitability of any …………………………..
  7. 16. Stern -------------------and company developed EVA (Economic Profit) to provide a single, value-based measure which can be used in solving the measurement problem in short-term.
  8. 17. …………………………valuation refers to the value of the startup business that is implied by the amount of money invested by the VC fund in combination with the fraction of the startup company’s shares that the VC acquires. (includes hypen).
  9. 18. ………………………………… depreciation is simply the change in the present value of a project’s expected future cash flows from year to year.
Down
  1. 1. In BCG matrix, the……………..category represents products and services with high market growth but low market share.(No space)
  2. 2. The minimum acceptable rate of return on a capital investment project is called ……………….. rate.
  3. 3. Earnings criterion implicitly uses the wrong cost of equity capital to evaluate an investment. We refer to this as the……………………. problem. (includes hyphen)
  4. 4. …………………………represent a business acquisition strategy whereby an investor group acquires all the equity of a firm and assumes its debts. (it is an abbreviation)
  5. 5. For an unlevered firm, The free cash flow to the firm is……………………………to the free cash flow to equity.
  6. 6. In……………………equivalent method of valuation, the cash flows are adjusted for risk.
  7. 8. ………………………. synergies occur when the combined company can increase its sales by accessing new capital or leveraging its expanded customer base.
  8. 10. An investment project that reduces the firm’s earnings in the current or following year is referred to as earnings ------------------------.
  9. 11. If Discounted Cash Flow (DCF) valuation is employed to assess the worth of a firm's cash flows during the planning period, while relative valuation is utilized for calculating terminal value, it is called as………………valuation approach.
  10. 13. Bad projects that have ……………… earnings can be accretive to earnings in the early years of project life and have negative NPVs. (includes hypen)
  11. 15. While valuing the Young firms and startups that do not have an established history of earnings use the ratio of Enterprise Value (EV) to …………………… .