Summary
Contents
Subject index
The central theme of this textbook is value-based financial management with the author's basic premise being that value creation should be key to making financial, strategic and operating decisions.
Modern financial theory and valuation techniques are introduced to enable students to make complex business decisions when starting their careers.
Corporate Finance has been revised and expanded to include new topics such as: project finance; leveraged buyouts, EVA and incentive compensation. It also includes numerous real-life case studies to illustrate the practical application of theory.
Introduction
Introduction
Objectives
- Introduction to the goal of financial management.
- Competitors to the rule of wealth maximization and their limitations.
- Factors affecting value creation.
- Corporate governance around the world.
Corporate Financial Management deals with the decisions of a firm related to investment, financing and dividend. To carry on business, a firm invests in tangible assets like plant and machinery, buildings, and intangible assets like goodwill and patents. This comprises the investment decision. These assets don't come free; one has to pay for them, so a company needs to tap various sources of funds including promoter's contribution. This forms the financing decision. The investment in assets generates revenues and cash flows for a specific period of time. The managers of the company can either retain cash with the ...
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