Stock Markets And Corporate Finance

Michael Joseph Dempsey (Autor)

Buch | Hardcover

528 Seiten

2017
World Scientific Europe Ltd (Verlag)
978-1-78634-325-3 (ISBN)

Artikel merken

This book examines the nature of the stock market and its implications for corporate management. It provides an introduction to core issues in finance and differs from traditional textbooks in its recognition that "finance is not physics" — in the sense that how markets behave today is not necessarily how they will behave tomorrow. Nevertheless, a certain level of "physics" can be recognized as underpinning the development of stock market valuations and corporate financial decision-making.

In short, the objective of the text is to instill insight in regards to the functioning of markets and corporate behavior, as opposed to algebraic derivations from unrealistic assumptions. Rather than subscribe unthinkingly to an "efficient market hypothesis", at each stage of the development of the text's conceptual framework, we also recognize the reality of market "sentiment" and the fundamental uncertainty that managers face in their decisions.

Based around a teaching programme with worked questions and solutions, Stock Markets and Corporate Finance is the perfect accompaniment for MBA, undergraduate and graduate students looking for a critical textbook on the nature of the financial sector and corporate finance.

Michael Dempsey joined RMIT University as Professor and Head of the Finance Discipline in early 2013. Prior to this, he was an Associate Professor at Monash University, Australia, before which he was an Associate Professor with Griffith University, Australia, having previously been at Leeds University, UK. He also has many years' experience working for the petroleum exploration industry, in the Middle East, Egypt, Aberdeen and London. He is an active researcher in seeking to understand the interplay between risk and returns as the essential dynamic of market behaviour; the theoretical implications of taxation for stock valuation; and corporate decision-making as socially constructed.

Introduction: Stock Markets, Investments and Corporate Financial Decision Making
A Short History of Stock Markets
The Time Value of Money and Financial Planning
Market Debt, Interest Rates and Bond Valuation
The Valuation of Equity Shares
Shareholders' Required Rate of Return (The Cost of Equity Capital)
Accounting Statements and Ratio Analysis
Financial Leverage
Valuation of Cash Flows
Currency Exchange Rates
Derivatives Instruments: Hedging (Speculating on) Currency Risk
Investment Decision-Making: Theory and Practice
Equity Value and Personal Taxes
Financial Leverage (Revisited)
Valuation of the Firm's Cash Flows (Revisited)
Ethical Behavior

Erscheinungsdatum	23.06.2017
Verlagsort	London
Sprache	englisch
Themenwelt	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
ISBN-10	1-78634-325-8 / 1786343258
ISBN-13	978-1-78634-325-3 / 9781786343253
Zustand	Neuware