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Harold Bierman, Jr

Professor, Johnson Graduate School of Management, USA
Harold Bierman, JrHarold Bierman, Jr

Harold Bierman, Jr, is Nicholas H. Noyes professor of business administration at the Johnson Graduate School of Management, Cornell University, New York. Professor Bierman’s interests are in investment and corporate financial policy decisions. He has consulted for many public organizations and industrial firms and is the author of more than 150 books and articles in the fields of accounting, finance, investment, taxation, and quantitative analysis. In 1985 he was named winner of the prestigious Dow Jones Award of the American Assembly of Collegiate Schools of Business for his outstanding contributions to collegiate management education.


Articles by this Author

  • Comparing Net Present Value and Internal Rate of Return
    by Harold Bierman, Jr
    To this point neither of the two discounted cash flow procedures for evaluating an investment is obviously incorrect. In many situations, the internal rate of return (IRR) procedure will lead to the same decision as the net present value (NPV) procedure, but there are also times when the IRR may lead to different decisions from those obtained by using the net present value procedure. When the two methods lead to different decisions, the net...
  • Capital Budgeting: The Dominance of Net Present Value
    by Harold Bierman, Jr
    A capital budgeting decision is characterized by costs and benefits that are spread out over several time periods. This leads to a requirement that the time value of money be considered in order to evaluate the alternatives correctly. Although to make decisions we must consider risks as well as time value, I restrict the discussion to situations in which the costs and benefits are known with certainty. There are sufficient difficulties in just...
  • Dividend Policy: Maximizing Shareholder Value
    by Harold Bierman, Jr
    The amount of dividends can affect stock prices. Barsky and De Long (1993) stated:“… changes in current and expected future dividends can account for the bulk of long-run stock price fluctuations, although much less so for short-term price movements.”1The title of this paper could be “Distribution Policy,” since dividends are not the only way of implementing a policy aimed at financially rewarding a firm’s stockholders. The various methods of...

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