Corporate Finance (eBook)
1008 Seiten
Wiley (Verlag)
978-1-119-45180-8 (ISBN)
Pierre Vernimmen (deceased) Graduate of HEC and Harvard, 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 (M&A, privatisations, financial restructurings) 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.?He leads two 8-member teams which carry out company valuations and stock exchange transactions (takeover bids, exchange offers, demergers etc.). 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. He co-manages a team of 5 professionals. Maurizio Dallocchio (Milan, Italy) 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. His areas of research cover cost of capital, structure of debt finance and corporate governance.
Preface viii
Frequently used symbols xii
1 What is Corporate finance? 1
Section 1 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 88
Part Two Financial Analysis and Forecasting 115
8 How to Perform a Financial Analysis 117
9 Margin Analysis: Structure 141
10 Margin Analysis: Risks 164
11 Working Capital and Capital Expenditures 179
12 Financing 201
13 Return on Capital Employed and Return on Equity 216
14 Conclusion and Financial Analysis 235
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 267
17 The Internal Rate of Return 284
Part Two The Risk of Securities and the Required Rate of Return 297
18 Risk and Return 299
19 The Required Rate of Return 327
Part Three Financial Securities 345
20 Bonds 347
21 Other DEBT Products 369
22 Shares 384
23 Options 404
24 Hybrid Securities 425
25 Selling Securities 443
Section III Value 469
26 Value and Corporate Finance 471
27 Measuring Value Creation 490
28 Investment Criteria 508
29 The Cost of Capital 526
30 Risk and Investment Analysis 543
31 Valuation Techniques 555
Section IV Corporate Financial Policies 585
Part One Capital Structure Policies 587
32 Capital Structure and the Theory of Perfect Capital Markets 589
33 Capital Structure, Taxes and Organisation Theories 601
34 DEBT, Equity and Options Theory 618
35 Working Out Details: The Design of the Capital Structure 637
Part Two Equity Capital 657
36 Returning Cash to Shareholders 659
37 Distribution in Practice: Dividends and Share Buy-Backs 676
38 Share Issues 692
Part Three DEBT Capital 705
39 Implementing a DEBT Policy 707
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) 771
43 Corporate Governance 783
44 Taking Control of A Company 796
45 Mergers and Demergers 819
46 Leveraged Buyouts (LBOs) 836
47 Bankrupicy and Restructing 851
Part Two Managing Working Capital, Cash Flows, Financial Risks and Real Estate 863
48 Managing Working Capital 865
49 Cash Management 878
50 Managing Financial Risks 897
51 Managing Operational Real Estate 922
Epilogue - Finance and Strategy 935
Top 20 Largest Listed Companies 943
Contents 951
Index 961
Erscheint lt. Verlag | 22.9.2017 |
---|---|
Sprache | englisch |
Themenwelt | Recht / Steuern ► Wirtschaftsrecht |
Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung | |
Schlagworte | Accounting • Corporate Finance • Rechnungswesen |
ISBN-10 | 1-119-45180-9 / 1119451809 |
ISBN-13 | 978-1-119-45180-8 / 9781119451808 |
Haben Sie eine Frage zum Produkt? |
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