ISBN 9780761934974,Corporate Finance : Theory and Practice

Corporate Finance : Theory and Practice


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ISBN 9780761934974

SAGE Response

Publication Year 2007

ISBN 9780761934974

ISBN-10 0761934979


Edition 2nd
Number of Pages 780 Pages
Language (English)


This?revised and enhanced?book examines the role of finance in supporting other functional areas while fostering an understanding of how financial decisions can create value. Corporate Finance covers areas related to estimating divisional cost of capital; executing a financing strategy; establishing debt and dividend policies consistent with the company`s strategy and environment; choosing between dividends and stock repurchases; managing high growth and managing working capital. Its new topics include: - Corporate Financial Flexibility (Real options) - New Financial Instruments - Project Finance - Acquisitions and Control - Performance Measurement and Incentive Compensation The goal of this book is to provide a thorough understanding of how and why firms make their financial decisions the way they do and their impact on shareholder value. The central theme of the book is Value Based Management, which assumes that maximizing shareholder value is the governing objective of a firm. Each chapter of this new edition has detailed and real-life cases to help students easily understand and grasp concepts. The author has also provided the case-map of the Harvard Business School to make this book more user-friendly in classrooms. The inclusion of several new topics/cases, extensive pedagogical tools and a finance-for-non-finance approach make this book ideal for MBA/CA/CFA/ICWA students and executive education programs. Table of Contents Preface I BUILDING BLOCKS Introduction Time Value of Money Risk and Return Estimation of Cost of Capital Financial Statements and Firm Value A Case Study: Financial Statements and Industry Structure A Case Study: Financial Performance of Pharmaceutical Companies II CAPITAL INVESTMENTS Overview of Capital Budgeting Free Cash Flow Valuation A Case Study: Detergents India Limited Risk Analysis in Capital Investments A Real Options Perspective of Capital Budgeting A Follow-Up Note on Capital Budgeting III MANAGING CURRENT ASSETS Estimation of Working Capital A Case Study: Bharti Dredging and Construction Limited Cash Management Receivables Management A Case Study: SM Electric (India) Limited IV THE FINANCING DECISION Optimal Capital Structure An Overview of Financing Choices Initial Public Offerings Bank Loans A Case Study: Bermuda Airways Debt Markets A Follow-Up Note on Financing (Executing a Financing Program) A Case Study: Financing NTPC Special Topic: Project Financing A Case Study: HPL Cogeneration Limited The Leasing Decision V DIVIDEND POLICY The Dividend Debate A Case Study: Back to SM Electric (India) Limited VI FINANCIAL POLICY, COMPETITIVE STRATEGY AND SHAREHOLDER VALUE Growth and Value Growth via Mergers and Acquisitions A Case Study: The Merger of ICICI Bank and Bank of Madura Leveraged Recaps and Buyouts (Revitalizing Organizations through Capital Structure Choice) EVA and Divisional Performance Measurement Index