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Full Description
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 CompensationThe 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.
Contents
PrefaceI: BUILDING BLOCKSIntroductionTime Value of MoneyRisk and ReturnEstimation of Cost of CapitalFinancial Statements and Firm ValueA Case Study: Financial Statements and Industry StructureA Case Study: Financial Performance of Pharmaceutical CompaniesII: CAPITAL INVESTMENTSOverview of Capital BudgetingFree Cash Flow ValuationA Case Study: Detergents India LimitedRisk Analysis in Capital InvestmentsA Real Options Perspective of Capital BudgetingA Follow-Up Note on Capital BudgetingIII: MANAGING CURRENT ASSETSEstimation of Working CapitalA Case Study: Bharti Dredging and Construction LimitedCash ManagementReceivables ManagementA Case Study: SM Electric (India) LimitedIV: THE FINANCING DECISIONOptimal Capital StructureAn Overview of Financing ChoicesInitial Public OfferingsBank LoansA Case Study: Bermuda AirwaysDebt MarketsA Follow-Up Note on Financing (Executing a Financing Program)A Case Study: Financing NTPCSpecial Topic: Project FinancingA Case Study: HPL Cogeneration LimitedThe Leasing DecisionV: DIVIDEND POLICYThe Dividend DebateA Case Study: Back to SM Electric (India) LimitedVI: FINANCIAL POLICY, COMPETITIVE STRATEGY AND SHAREHOLDER VALUEGrowth and ValueGrowth via Mergers and AcquisitionsA Case Study: The Merger of ICICI Bank and Bank of MaduraLeveraged Recaps and Buyouts (Revitalizing Organizations through Capital Structure Choice)EVA and Divisional Performance MeasurementIndex
