Corporate finance: a practical approach

The book that fills the practitioner need for a distillation of the most important tools and concepts of corporate finance In today's competitive business environment, companies must find innovative ways to enable rapid and sustainable growth not just to survive, but to thrive. Corporate Finance: A Practical Approach is designed to help financial analysts, executives, and investors achieve this goal with a practice-oriented distillation of the most important tools and concepts of corporate finance. Updated for a post-financial crisis environment, the Second Edition provides coverage of the most important issues surrounding modern corporate finance for the new global economy: Preserves the hallmark conciseness of the first edition while offering expanded coverage of keytopics including dividend policy, share repurchases, and capital structure Current, real-world examples are integrated throughout the book to provide the reader with a concrete understanding of critical business growth concepts Explanations and examples are rigorous and global, but make minimal use of mathematics Each chapter presents learning objectives which highlight key material, helping the reader glean the most effective business advice possible Written by the experts at CFA Institute, the world's largest association of professional investment managers Created for current and aspiring financial professionals and investors alike, Corporate Finance focuses on the knowledge, skills, and abilities necessary to succeed in today's global corporate world. INDICE: Foreword Acknowledgments Introduction Chapter 1 Corporate Governance Learning Outcomes 1 Introduction 2 Corporate Governance: Objectives and Guiding Principles 3 Forms of Business and Conflicts of Interest 3.1 Sole Proprietorships 3.2 Partnerships 3.3 Corporations 4 Specific Sources of Conflict: Agency Relationships 4.1 Manager-Shareholder Conflicts 4.2 DirectorShareholder Conflicts 5 Corporate Governance Evaluation 5.1 The Board of Directors 5.2 Examples of Codes of Corporate Governance 6 Environmental, Social, and Governance Factors 7 Valuation Implications of Corporate Governance 8 Summary Problems Chapter 2 Capital Budgeting Learning Outcomes 1 Introduction 2 The Capital Budgeting Process 3 Basic Principles of Capital Budgeting 4 Investment Decision Criteria 4.1 Net Present Value 4.2 Internal Rate of Return 4.3 Payback Period 4.4 Discounted Payback Period 4.5 Average Accounting Rate of Return 4.6 Profitability Index 4.7 NPV Profile 4.8 Ranking Conflicts between NPV and IRR 4.9 The Multiple IRR Problem and the No IRR Problem 4.10 Popularity and Usage of the Capital Budgeting Methods 5 Cash Flow Projections 5.1 Table Format with Cash Flows Collected by Year 5.2 Table Format with Cash Flows Collected by Type 5.3 Equation Format for Organizing Cash Flows 6 More on Cash Flow Projections 6.1 Straight-Line and Accelerated Depreciation Methods 6.2 Cash Flows for a Replacement Project 6.3 Spreadsheet Modeling 6.4 Effects of Inflation on Capital Budgeting Analysis 7 Project Analysis and Evaluation 7.1 Mutually Exclusive Projects with Unequal Lives 7.2 Capital Rationing 7.3 Risk Analysis of Capital InvestmentsStand-Alone Methods 7.5 Real Options 7.6 Common Capital Budgeting Pitfalls 8 Other Income Measures and Valuation Models 8.1 The Basic Capital BudgetingModel 8.2 Economic and Accounting Income 8.3 Economic Profit, Residual Income, and Claims Valuation 9 Summary Problems Chapter 3 Cost of Capital Learning Outcomes 1 Introduction 2 Cost of Capital 2.1 Taxes and the Cost of Capital 2.2Weights of the Weighted Average 2.3 Applying the Cost of Capital to Capital Budgeting and Security Valuation 3 Costs of the Different Sources of Capital 3.1 Cost of Debt 3.2 Cost of Preferred Stock 3.3 Cost of Common Equity 4 Topics in Cost of Capital Estimation 4.1 Estimating Beta and Determining a Project Beta 4.2 Country Risk 4.3 Marginal Cost of Capital Schedule 4.4 Flotation Costs 4.5 What Do CFOs Do? 5 Summary Problems Chapter 4 Measures of Leverage Learning Outcomes 1 Introduction 2 Leverage 3 Business Risk and Financial Risk 3.1 Business Risk and Its Components 3.2 Sales Risk 3.3 Operating Risk 3.4 FinancialRisk 3.5 Total Leverage 3.6 Breakeven Points and Operating Breakeven Points 3.7 The Risks of Creditors and Owners 4 Summary Problems Chapter 5 Capital Structure Learning Outcomes 1 Introduction 2 The Capital Structure Decision 2.1 Proposition I without Taxes: Capital Structure Irrelevance 2.2 Proposition II without Taxes: Higher Financial Leverage Raises

• ISBN: 978-1-118-10537-5
• Editorial: John Wiley & Sons
• Encuadernacion: Cartoné
• Páginas: 544
• Fecha Publicación: 14/03/2012
• Nº Volúmenes: 1
• Idioma: Inglés