Product details:
ISBN 10: 1118849337
ISBN 13: 978-1118849330
Author: Pierre Vernimmen, Pascal Quiry, Maurizio Dallocchio, Yann Le Fur, Antonio Salvi
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.
Table of contents:
Section I Financial Analysis 17
Part One Fundamental Concepts In Financial Analysis 19
2 Cash Flow 21
3 Earnings 31
4 Capital Employed and Invested Capital 46
5 Walking Through From Earnings To Cash Flow 58
6 Getting To Grips With Consolidated Accounts 72
7 How To Cope With The Most Complex Points In Financial Accounts 90
Part Two Financial Analysis and Forecasting 117
8 How To Perform A Financial Analysis 119
9 Margin Analysis: Structure 144
10 Margin Analysis: Risks 167
11 Working Capital and Capital Expenditures 182
12 Financing 203
13 Return On Capital Employed and Return On Equity 219
14 Conclusion of Financial Analysis 238
Section II Investors and Markets 245
Part One Investment Decision Rules 247
15 The Financial Markets 249
16 The Time Value of Money and Net Present Value 270
17 The Internal Rate of Return 286
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 370
22 Shares 386
23 Options 406
24 Hybrid Securities 427
25 Selling Securities 445
Section III Value 469
26 Value and Corporate Finance 471
27 Measuring Value Creation 491
28 Investment Criteria 509
29 The Cost of Capital 525
30 Risk and Investment Analysis 542
31 Valuation Techniques 557
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 621
35 Working Out Details: The Design of The Capital Structure 639
Part Two Equity Capital 659
36 Returning Cash To Shareholders 661
37 Distribution In Practice: Dividends and Share Buy-Backs 678
38 Share Issues 696
Part Three Debt Capital 709
39 Implementing A Debt Policy 711
Section V Financial Management 729
Part One Corporate Governance and Financial Engineering 731
40 Setting Up A Company and Financing Start-Ups 733
41 Shareholders 754
42 Choosing A Corporate Structure 779
43 Corporate Governance 795
44 Initial Public Offerings (IPOS) 807
45 Taking Control of A Company 819
46 Mergers and Demergers 842
47 Leveraged Buyouts (LBOS) 860
48 Bankruptcy and Restructuring 876
Part Two Managing Working Capital, Cash Flows, Financial Risks and Real Estate 889
49 Managing Working Capital 891
50 Cash Management 903
51 Managing Financial Risks 922
52 Managing Operational Real Estate 946
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