PIC: An Alternative Approach to Accepting Bids on Local and State Government Bonds
This paper advocates the use of the Present Value of Interest Cost (PIC) method as a theoretically superior technique to both the True Interest Cost (TIC) and Net Interest Cost (NIC) methods for the evaluation of underwriter bids on local and state government bonds.
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Published in | Financial management Vol. 8; no. 2; pp. 36 - 41 |
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Main Authors | , , |
Format | Journal Article |
Language | English |
Published |
Albany, N.Y
Financial Management Association
01.07.1979
Financial Management Association International Blackwell Publishing Ltd |
Subjects | |
Online Access | Get full text |
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Summary: | This paper advocates the use of the Present Value of Interest Cost (PIC) method as a theoretically superior technique to both the True Interest Cost (TIC) and Net Interest Cost (NIC) methods for the evaluation of underwriter bids on local and state government bonds. |
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ISSN: | 0046-3892 1755-053X |
DOI: | 10.2307/3665347 |