Corporate Finance
John Wiley & Sons Inc (Hersteller)
978-1-119-20837-2 (ISBN)
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Merging theory and practice into a comprehensive, highly-anticipated text Corporate Finance continues its legacy as one of the most popular financial textbooks, with well-established content from a diverse and highly respected author team. Unique in its features, this valuable text blends theory and practice with a direct, succinct style and commonsense presentation. Readers will be introduced to concepts in a situational framework, followed by a detailed discussion of techniques and tools. This latest edition includes new information on venture finance and debt structuring, and has been updated throughout with the most recent statistical tables. The companion website provides statistics, graphs, charts, articles, computer models, and classroom tools, and the free monthly newsletter keeps readers up to date on the latest happenings in the field. The authors have generously made themselves available for questions, promising an answer in seventy-two hours.
Emphasizing how key concepts relate to real-world situations is what makes Corporate Finance a valuable reference with real relevance to the professional and student alike. Readers will gain insight into the methods and tools that shape the industry, allowing them to:
Analyze investments with regard to hurdle rates, cash flows, side costs, and more
Delve into the financing process and learn the tools and techniques of valuation
Understand cash dividends and buybacks, spinoffs, and divestitures
Explore the link between valuation and corporate finance
As the global economy begins to recover, access to the most current information and statistics will be required. To remain relevant in the evolving financial environment, practitioners will need a deep understanding of the mechanisms at work. Corporate Finance provides the expert guidance and detailed explanations for those requiring a strong foundational knowledge, as well as more advanced corporate finance professionals.
Pierre Vernimmen (deceased) was a founding member and first coordinator of the Finance Department at HEC, where he established himself as a leading academic in the field of corporate finance.?In 1973 he joined Paribas, initially as a private equity banker, moving onto the advisory business line which he set up and managed from 1993 until his death in 1996. Pascal Quiry (Paris, France) is MD in the Corporate Finance department at BNP Paribas, and affiliate professor of finance at HEC.?Pascal is board member of the French Finance Association and member of the American Finance Association. Yann Le Fur (Paris, France) is a senior associate in the Paris Corporate Finance department of Schroder Salomon Smith Barney, and a lecturer at HEC. Maurizio Dallocchio (Milan, Italy) is former Dean of the leading Italian business school Bocconi (Milan) and Lehman Brothers Chair of Corporate Finance. He is also a board member of several listed and unlisted companies and is one of the most distinguished Italian authorities on finance. Antonio Salvi (Milan, Italy) is an Assistant Professor of Finance at Bocconi and the University of Venice where he teaches Corporate Finance.
Preface viii
Frequently Used Symbols xii
1 What is Corporate Finance? 1
Section I Financial Analysis 15
Part One Fundamental Concepts in Financial Analysis 17
2 Cash Flow 19
3 Earnings 29
4 Capital Employed and Invested Capital 44
5 Walking Through from Earnings to Cash Flow 57
6 Getting to Grips with Consolidated Accounts 71
7 How to Cope with the Most Complex Points in Financial Accounts 89
Part Two Financial Analysis and Forecasting 115
8 How to Perform a Financial Analysis 117
9 Margin Analysis: Structure 143
10 Margin Analysis: Risks 166
11 Working Capital and Capital Expenditures 181
12 Financing 202
13 Return on Capital Employed and Return on Equity 216
14 Conclusion of Financial Analysis 236
Section II Investors and Markets 243
Part One Investment Decision Rules 245
15 The Financial Markets 247
16 The Time Value of Money and Net Present Value 268
17 The Internal Rate of Return 285
Part Two The Risk of Securities and the Required Rate of Return 299
18 Risk and Return 301
19 The Required Rate of Return 329
Part Three Financial Securities 347
20 Bonds 349
21 Other Debt Products 371
22 Shares 386
23 Options 406
24 Hybrid Securities 428
25 Selling Securities 446
Section III Value 471
26 Value and Corporate Finance 473
27 Measuring Value Creation 492
28 Investment Criteria 510
29 The Cost of Capital 528
30 Risk and Investment Analysis 545
31 Valuation Techniques 558
Section IV Corporate Financial Policies 589
Part One Capital Structure Policies 591
32 Capital Structure and the Theory of Perfect Capital Markets 593
33 Capital Structure, Taxes and Organisation Theories 605
34 Debt, Equity and Options Theory 622
35 Working Out Details: The Design of The Capital Structure 641
Part Two Equity Capital 659
36 Returning Cash to Shareholders 661
37 Distribution in Practice: Dividends and Share Buy-Backs 677
38 Share Issues 695
39 Implementing a Debt Policy 708
Section V Financial Management 725
Part One Corporate Governance and Financial Engineering 727
40 Setting Up a Company or Financing Start-Ups 729
41 Choice of Corporate Structure 748
42 Initial Public Offerings (iPOs) 770
43 Corporate Governance 783
44 Taking Control of a Company 797
45 Mergers and Demergers 820
46 Leveraged Buyouts (LBOs) 837
47 Bankruptcy and Restructuring 852
Part Two Managing Working Capital, Cash Flows and Financial Risks 867
48 Managing Working Capital 869
49 Managing Cash Flows 881
50 Managing Financial Risks 900
Epilogue—Finance and Strategy 925
Top 20 Largest Listed Companies 933
Contents 941
Index 951
| Verlagsort | New York |
|---|---|
| Sprache | englisch |
| Themenwelt | Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen |
| ISBN-10 | 1-119-20837-8 / 1119208378 |
| ISBN-13 | 978-1-119-20837-2 / 9781119208372 |
| Zustand | Neuware |
| Informationen gemäß Produktsicherheitsverordnung (GPSR) | |
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