David T. Lupia, Inc. - Corporate Financial Advisory Services

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David Lupia



Financing an Arctic Gas Delivery System
by David T. Lupia

Constructing a natural gas pipeline from Alaska's North Slope to Alberta will be an unprecedented undertaking in terms of scale, complexity and cost. Although new laws offer some government support, traditional regulated pipeline returns will not be sufficient to attract financing because of the risks involved. This paper analyzes the risks to investors and proposes a tariff mechanism to compensate them.

The Role of Corporate Finance in Maximizing Shareholder Value
by David T. Lupia

The purpose of corporate finance is to increase shareholder value through the pursuit of two separate but related activities: financing the business at the lowest sustainable after-tax cost and allocating capital resources to investments that promise the highest risk-adjusted returns to investors.

Measuring Shareholder Value
by David T. Lupia

Shareholder value is created when profitability exceeds investor expectations as measured by the cost of capital. Unfortunately, companies often do not measure profitability the same way investors do, and this makes it hard for managers to identify under-performing operations and take corrective action. This article describes a return metric that measures profitability the same way investors do.