Ignacio Vélez-Pareja

Associate Professor of Finance at Universidad Tecnológica de Bolívar in Cartagena, Colombia. He has published in several international journals including Latin American Business Review, Academia, Management Research News, The IUP Journal of Applied Finance and Quarterly Review of Economics and Finance. He has published several books on Valuation in English and Spanish, among them Principles of Cash Flow Valuation (Academic Press, 2004) with Joseph Tham from Duke University, Decisiones de inversión (6th Edition) (EDICON, Buenos Aires, 2009) and Decisiones empresariales bajo riesgo e incertidumbre, (Editorial Norma, 2003). He also contributed with a chapter, Valuating Cash Flows in an Inflationary Environment The Case of World Bank, to the book by Barbara T. Credan (Editor), Trends in Inflation Research, (Nova Publishers, 2006) and a chapter Prospective Analysis: Guidelines for Forecasting Financial Statements with Joseph Tham, in the book Investment Management. A Modern Guide to Security Analysis and Stock Selection, compiled by Ramanna Vishwanath and Chandrasekhar Krishnamurti, Springer. (2009). Mr. Vélez-Pareja has been reviewer for several international journals, including Abacus, European Financial Management, Brazilian Finance Review (Revista Brasileira de Finanças), The Financial Review, The International Journal of Managerial Finance, Academia. Revista Latinoamericana de Administración, Journal of Applied Finance and Quantitative Finance. He has posted many papers on the subject in the Social Science Research Network, RePec and Economic Analysis Working Papers, (EAWP). All his work can be found at http://cashflow88.com/decisiones/cursodec.html. Mr. Vélez-Pareja has more than 40 years in teaching, management in private firms and consulting.

"Ignacio Vélez-Pareja is Finance Professor at Universidad Tecnológica de Bolívar in Cartagena, Colombia. He has published in several international journals including Latin American Business Review, Academia, Management Research News, The IUP Journal of Applied Finance and Quarterly Review of Economics and Finance. He has published several books on Valuation in English and Spanish, including Principles of Cash Flow Valuation (2004) with Joseph Tham from Duke University. He also has contributed with chapters to several international books on Finance. All his work can be found at http://cashflow88.com/decisiones/cursodec.html and at http://ssrn.com/author=145648. He has been teaching and working for private firms for more than 40 years."

Recent publications

Articles

Velez-Pareja, Ignacio and Burbano-Perez, Antonio, Consistency in Valuation: A Practical Guide. Academia, Revista Latinoamericana de Administración (ISI journal), (Forthcoming) No. 44, May, 2010 . Available at SSRN: http://ssrn.com/abstract=758664

Velez-Pareja, Ignacio, Back to Basics: Cost of Capital Depends on Free Cash Flow (January 6, 2010). The IUP Journal of Applied Finance, Vol. 16, No. 1, pp. 27-39, January 2010. Available at SSRN: http://ssrn.com/abstract=1281451

Velez-Pareja, Ignacio, Constructing Consistent Financial Planning Models for Valuation. IIMS Journal of Management of Science, Vol. 1, January-June 2010 (Forthcoming Inaugural Issue). Available at SSRN: http://ssrn.com/abstract=1455304

Fayad, Catherine, Fortich, Roberto Carlos and Velez-Pareja, Ignacio, Forecasting Foreign Exchange Rate Assuming PPP Conditions: Empirical Evidence Using VAR (May 8, 2009). Estudios Gerenciales, Vol. 25, No. 113, pp. 191-206, October-December 2009. Available at SSRN: http://ssrn.com/abstract=1401538

Velez-Pareja, Ignacio, Merlo, Mariano German, Londono Bedoya, David Andres and Sarmiento, Julio Alejandro, Potential Dividends and Actual Cash Flows: A Regional Latin American Analysis. Estudios Gerenciales, Vol. 25, No. 113, October-December 2009, pp. 147-180. Available at SSRN: http://ssrn.com/abstract=1175482

Velez-Pareja, Ignacio and Magni, Carlo Alberto, Potential Dividends and Actual Cash Flows in Equity Valuation. A Critical Analysis, Estudios Gerenciales, Vol. 25, No. 113, October-December 2009, pp. 119-146. Available at SSRN: http://ssrn.com/abstract=1095068.

Magni, Carlo Alberto and Velez-Pareja, Ignacio, Potential Dividends versus Actual Cash Flows in Firm Valuation. The ICFAI Journal of Applied Finance, Vol. 15, No. 7, pp. 51-66, July 2009. Available at SSRN: http://ssrn.com/abstract=1422502

Velez-Pareja, Ignacio, Which Cost of Debt Should be Used in Forecasting Cash Flows? Estudios Gerenciales, Vol. 24, No. 110, April/June 2009, pp. 59-76. Available at SSRN: http://ssrn.com/abstract=1011485

Velez-Pareja, Ignacio, Ibragimov, Rauf and Tham, Joseph, Constant Leverage and Constant Cost of Capital: A Common Knowledge Half-Truth (April 21, 2008). Estudios Gerenciales, Vol. 24, No. 107, pp. 13-34, June 2008. Available at SSRN: http://ssrn.com/abstract=997435

Mian, M. A. and Velez-Pareja, Ignacio, Applicability of the Classic Wacc Concept in Practice. Latin American Business Review, Vol. 8, No. 2, pp.19-40, 2008. Available at SSRN: http://ssrn.com/abstract=804764

Chapter in Books

Velez-Pareja, Ignacio and Tham, Joseph, Prospective Analysis: Guidelines for Forecasting Financial Statements in Investment Management: A Modern Guide to Security Analysis and Stock Selection, Ramanna Vishwanath, Chandrasekhar Krishnamurti, eds., 2009. Available at SSRN: http://ssrn.com/abstract=1026210

Forthcoming Works (Chapters in books)

Velez-Pareja, Ignacio and Tham, Joseph, Estimating Cash Flows: Quantitative and Qualitative Techniques, in H. Kent Baker and Phil English (Eds), 2011, Capital Budgeting Valuation: Financial Analysis for Today’s Investment Projects, Robert Kolb Finance Series, John Wiley & Sons, Inc. (Forthcoming).

Velez-Pareja, Ignacio and Tham, Joseph, Cost of Capital: An introduction, in H. Kent Baker and Phil English (Eds), 2011, Capital Budgeting Valuation: Financial Analysis for Today’s Investment Projects, Robert Kolb Finance Series, John Wiley & Sons, Inc. (Forthcoming).

In process

Velez-Pareja, Ignacio and Tham, Joseph, Capital Budgeting and Inflation, in H. Kent Baker and Phil English (Eds), 2011, Capital Budgeting Valuation: Financial Analysis for Today’s Investment Projects, Robert Kolb Finance Series, John Wiley & Sons, Inc. (Forthcoming)

Forecasting Financial Statements for Value Management, for a book on Management Accounting edited by Nigel Finch at the University of Sydney and Greg N. Gregoriou, State University of New York (Plattsburgh)