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Author: João Amaro de Matos
Publisher: Princeton University Press
ISBN: 0691188475
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
Corporate finance is the area of finance that studies the determinants of firms' values, including capital structure, financing, and investment decisions. Although there are several excellent texts in corporate finance, this is the first to focus on the theoretical foundations of the subject in a consistent and integrated way at the Ph.D. level. In addition to a textbook for advanced graduate students, it can also serve as a general reference to researchers and sophisticated practitioners. The material presented is carefully selected with an eye to what is essential to understanding the underlying theory, ensuring that this text will remain useful for years to come. The book is divided into three parts. The first section presents the basic principles of valuation based on the absence of arbitrage, including a discussion of the determinants of the optimal capital structure based on the seminal results of Modigliani and Miller. The second section discusses the implications of agency problems and information asymmetries to capital structure, giving particular attention to payout policy and to debt contract design. The concluding portion presents different ways of restructuring capital, including going public, going private using stock repurchases or leveraged buyouts, and mergers and acquisitions. Each chapter includes exercises that vary in difficulty, with suggested solutions provided in an appendix. This book will assuredly be the standard doctoral- and professional-level explication of corporate finance theory and its appropriate applications.
Author: João Amaro de Matos
Publisher: Princeton University Press
ISBN: 0691188475
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
Corporate finance is the area of finance that studies the determinants of firms' values, including capital structure, financing, and investment decisions. Although there are several excellent texts in corporate finance, this is the first to focus on the theoretical foundations of the subject in a consistent and integrated way at the Ph.D. level. In addition to a textbook for advanced graduate students, it can also serve as a general reference to researchers and sophisticated practitioners. The material presented is carefully selected with an eye to what is essential to understanding the underlying theory, ensuring that this text will remain useful for years to come. The book is divided into three parts. The first section presents the basic principles of valuation based on the absence of arbitrage, including a discussion of the determinants of the optimal capital structure based on the seminal results of Modigliani and Miller. The second section discusses the implications of agency problems and information asymmetries to capital structure, giving particular attention to payout policy and to debt contract design. The concluding portion presents different ways of restructuring capital, including going public, going private using stock repurchases or leveraged buyouts, and mergers and acquisitions. Each chapter includes exercises that vary in difficulty, with suggested solutions provided in an appendix. This book will assuredly be the standard doctoral- and professional-level explication of corporate finance theory and its appropriate applications.
Author: Stefan Detscher
Publisher: GRIN Verlag
ISBN: 3638842401
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
Research Paper (undergraduate) from the year 2003 in the subject Business economics - Investment and Finance, grade: 2,0 (B), European Business School - International University Schlo Reichartshausen Oestrich-Winkel (Corporate Finance and Capital Markets), language: English, abstract: This book examines the links between corporate finance and the theory of the firm. As a basis for this analysis, theoretical foundations in corporate finance and the theory of the firm are provided. Furthermore, current research on the theory of the firm and corporate finance for the recently emerged type of firm of the human-capital intensive firm is presented. The most significant part of the analysis is the evaluation of the interrelation between corporate finance and the theory of the firm using a 3x3 matrix. This matrix compares three important theoretical frameworks of the firm (the firm as a nexus of contracts, as a collection of growth options and as a collection of assets) with three major fields of corporate finance (capital structure, corporate governance and valuation). This assessment is done for the traditional asset-intensive industrial firm, one of two basic types of firms in today's economy. For giving an additional insight into current research, the recently emerged human-capital intensive firm is shortly described in comparison to the traditional asset-intensive firm, and implications for corporate finance for this new type of firm are explained. As a conclusion, three major results can be stated: firstly, the theory of the firm definitely influences corporate finance for all described views of the firm, and it is thus an important basis for corporate finance. This fact makes it necessary to consider the underlying issue of the theory of the firm for each problem in corporate finance. Secondly, different views of the theory of the firm have different implications for corporate finance. For example, the appropriate valuation method depends on the considered view of t
Author: Pascal Quiry
Publisher: John Wiley & Sons
ISBN: 1119841631
Category : Business & Economics
Languages : en
Pages : 1040
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Book Description
Get a distinctly European take on corporate finance The newly revised Sixth Edition of Corporate Finance: Theory and Practice delivers a uniquely European perspective on the foundations and latest trends in corporate finance, including the marked shifts brought about by sustainability, environmental, and social concerns. Containing updated statistics and graphs, the book covers the latest innovations in financial practice, like the rise of private equity investment, the continuous decline in listed companies, and the dramatic surge of sustainability-linked financing products. Readers get access to an accompanying website that offers regularly updated statistics, graphs, and charts, direct email access to the authors, quizzes, case studies, articles, and more. The book also includes: A balanced blend of theory and practice from an author team with a presence in academia and business Access to The Vernimmen.com Newsletter, which provides monthly updates on corporate finance to over 60,000 subscribers Ideal for students studying corporate finance as part of an MBA or a master's level programme in Finance, Corporate Finance: Theory and Practice is also required reading for practicing professionals in the UK and continental Europe seeking a distinctly European treatment of a critically important subject.
Author:
Publisher:
ISBN: 9781999132309
Category : Corporations
Languages : en
Pages : 221
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Book Description
Author: Kentaro Asai
Publisher: Routledge
ISBN: 1000320499
Category : Business & Economics
Languages : en
Pages : 105
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Book Description
A concise guide for students to quickly grasp the essentials of capital structure theory, providing them with a “shortcut” to the comprehension of important frameworks and a “story” that allows them to see what each model is motivated by and aimed at, especially in relation to competing models. Thereby, the book exclusively allows readers to learn capital structure theory in an efficient and unified manner. In this book, the author captures, in a succinct way, the key frameworks that persistently appear in the corporate finance arena, such as the neutrality of capital structure in a frictionless capital market, trade-off theory, agency theory, security design, and information asymmetry. Suitable both as a core textbook for post-graduate or doctoral level students and as a concise guide for practitioners and regulators.
Author: Jean Tirole
Publisher: Princeton University Press
ISBN: 1400830222
Category : Business & Economics
Languages : en
Pages : 657
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Book Description
"Magnificent."—The Economist From the Nobel Prize–winning economist, a groundbreaking and comprehensive account of corporate finance Recent decades have seen great theoretical and empirical advances in the field of corporate finance. Whereas once the subject addressed mainly the financing of corporations—equity, debt, and valuation—today it also embraces crucial issues of governance, liquidity, risk management, relationships between banks and corporations, and the macroeconomic impact of corporations. However, this progress has left in its wake a jumbled array of concepts and models that students are often hard put to make sense of. Here, one of the world's leading economists offers a lucid, unified, and comprehensive introduction to modern corporate finance theory. Jean Tirole builds his landmark book around a single model, using an incentive or contract theory approach. Filling a major gap in the field, The Theory of Corporate Finance is an indispensable resource for graduate and advanced undergraduate students as well as researchers of corporate finance, industrial organization, political economy, development, and macroeconomics. Tirole conveys the organizing principles that structure the analysis of today's key management and public policy issues, such as the reform of corporate governance and auditing; the role of private equity, financial markets, and takeovers; the efficient determination of leverage, dividends, liquidity, and risk management; and the design of managerial incentive packages. He weaves empirical studies into the book's theoretical analysis. And he places the corporation in its broader environment, both microeconomic and macroeconomic, and examines the two-way interaction between the corporate environment and institutions. Setting a new milestone in the field, The Theory of Corporate Finance will be the authoritative text for years to come.
Author: Pierre Vernimmen
Publisher: John Wiley & Sons
ISBN: 1118849299
Category : Business & Economics
Languages : en
Pages : 994
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Book Description
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.
Author: Donald R. Chambers
Publisher: Addison Wesley Publishing Company
ISBN:
Category : Business & Economics
Languages : en
Pages : 648
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Book Description
"The second edition of Modern Corporate Finance: Theory and Practice combines a forward-looking vision of corporate finance with the tried and true practices of the past. This text emphasizes the modernist movement in finance, which is based on systematic methodology with an emphasis on deductive reasoning and empirical validation. The modernist movement produces a market-value-based approach to finance that emphasizes shareholder wealth maximization, options, and agency relationships. This movement has expanded without question, the frontiers of knowledge in finance. Until Modern Corporate Finance: Theory and Practice, instructors have lacked a framework from which to teach these concepts at the introductory level."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved
Author: Ebenezer Ashley
Publisher: CreateSpace
ISBN: 9781481817424
Category : Business & Economics
Languages : en
Pages : 158
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Book Description
The competitiveness of the global business environment makes it imperative for organizations to make cogent and strategic investment decisions that would assure their survival in the market. Strategic business and investment decisions are a prerequisite for an organization's ability to maintain an edge over its competitors in the industry. Rapid globalization calls for the broadening of an organization's horizon beyond the local market and industry; rapid globalization calls for investment strategies and decisions that consider foreign competitors, especially when importation and exportation abound in almost every country across the globe. This publication seeks to guide corporate executives in their investment decisions by examining the impact of corporate financial theories and applications on the performance and development of organizations. This book provides useful information on how managers could initiate and complete investment projects successfully. It sheds light on some risks inherent in management functions and the steps that could be taken by organizations to prevent or minimize those risks. The book outlines some theoretical perspectives of seminal thinkers in finance; and how transactions related to mergers and acquisitions could be successfully accounted for under the current SFAS, among others.
Author: Aswath Damodaran
Publisher: John Wiley & Sons
ISBN: 1118808932
Category : Business & Economics
Languages : en
Pages : 663
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Book Description
Aswath Damodaran, distinguished author, Professor of Finance, and David Margolis, Teaching Fellow at the NYU Stern School of Business, has delivered the newest edition of Applied Corporate Finance. This readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or models. Like no other text of its kind, Applied Corporate Finance, 4th Edition applies corporate finance to real companies. It now contains six real-world core companies to study and follow. Business decisions are classified for students into three groups: investment, financing, and dividend decisions.