Corporate finance for business

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Title:

Author:

Marney, John-Paul.

ISBN:

9780199563395

Personal Author:

Marney, John-Paul.

Publication Information:

Oxford ; New York : Oxford University Press, 2011.

Physical Description:

xxii, 480 pages : color illustrations ; 25 cm

Contents:

Machine generated contents note: 1.1.Introduction -- 1.2.Some stereotypes, presuppositions and assumptions of finance -- 1.3.The basic knowledge and basic skills needed for finance -- 1.4.The goal of the company -- profit maximisation versus shareholder wealth maximisation -- 1.5.Do managers maximise firm value or do they pursue their own goals? -- 1.6.Ensuring managers pursue shareholders' goals -- corporate governance and corporate ethics -- 1.7.The role of finance in the wider world -- how far do the ethical obligations of the firm extend? -- 1.8.The social and environmental audit -- 1.9.Topics in finance -- 1.10.Summary -- 2.1.The time value of money -- 2.2.Net present value, the discount rate and the cost of capital -- 2.3.Future values, returns, and annual equivalent rates -- 2.4.Internal rate of return -- 2.5.Project appraisal -- the old-fashioned way -- 2.6.The application of project appraisal principles -- 2.7.Project appraisal as an art -- 2.8.Summary

Note continued: 3.1.Introduction -- fooled by randomness? -- 3.2.Financial markets -- 3.3.Why share prices matter and why we don't normally hear much about bond prices -- 3.4.Efficient markets and efficient share prices -- 3.5.Specific definitions of market efficiency -- 3.6.Summary -- 4.1.Introduction to valuation -- what's it worth? -- 4.2.Valuation with larger amounts of uncertainty -- publicly traded shares with growing dividends -- 4.3.Price-earnings ratios and valuation -- 4.4.Present value of accounting earnings -- 4.5.Asset valuation -- 4.6.Intangible assets -- 4.7.Summary -- 5.1.Risk and return (you can't have one without the other) -- 5.2.Markowitz portfolio theory -- 5.3.The limits of portfolio performance and the efficient frontier -- 5.4.The market portfolio and capital market line -- 5.5.Beta, a measure of individual asset risk -- 5.6.Summary -- 6.1.Futures, forwards and derivative instruments -- 6.2.Currencies and foreign exchange rates

Note continued: 6.3.The fundamental equilibrium exchange rate -- 6.4.Types of forex quotes -- 6.5.Exchange rate regimes -- 6.6.Forex risks faced by firms -- 6.7.Ways of dealing with forex risks faced by firms -- 6.8.Hedging without derivative or other financial instruments (internal methods) -- 6.9.Summary -- 7.1.Introduction -- 7.2.Practical considerations for real life capital budgeters -- 7.3.The principles and practice in application -- 7.4.Risk -- 7.5.Real options -- 7.6.Summary -- 8.1.Introduction to debt and equity, the two forms of capital -- 8.2.Where do we get the cost of debt and the cost of equity from in the first place? -- 8.3.The debt/equity mix -- 8.4.Is there an optimal gearing ratio? Modigliani and Miller's perspective -- 8.5.What is missing from Modigliani and Miller? Real world considerations -- 8.6.Summary -- 9.1.Dividend policy -- an introduction -- 9.2.Modigliani and Miller on dividend policy

Note continued: 9.3.Gordon, 'the bird in the hand' fallacy and the early resolution of uncertainty -- 9.4.Dividend policy and asymmetric information -- pecking order theory -- 9.5.The clientele effect -- 9.6.The trends, empirical evidence and practical aspects of dividend policy -- 9.7.Summary -- 10.1.Introduction -- cash flow and working capital -- 10.2.Working capital and the cash cycle -- 10.3.Trade credit -- 11.4.Float management -- 10.5.Receivables and payables management -- 10.6.Inventory management -- 10.7.Cash management -- 10.8.Summary -- 11.1.Introduction to mergers and acquisitions -- 11.2.Reasons for M&A -- 11.3.Classification of mergers -- 11.4.Takeovers from the target's perspective -- 11.5.Company valuation in M&A -- 11.6.Forms, structures and methods of financing M&A -- 11.7.Summary -- 12.1.The interest process with annual compounding -- 12.2.The interest process with compounding periods other than yearly -- 12.3.Discounting and present values

Note continued: 12.4.Perpetuity cash flows and simple share valuation -- 12.5.Annuity cash flows -- 12.6.Annuity cash flows and simple bond valuation -- 12.7.Growing perpetuity cash flows -- share valuation with dividend growth -- 12.8.How to work out a growth rate for dividends -- 12.9.Some fundamental statistical concepts and their application to investment and portfolio theory.

Abstract:

This is an innovative and interactive corporate finance textbook which, as well as offering an in-depth examination of the key areas of the corporate finance syllabus, incorporates interesting, topical examples and cases, bringing real life to bear on the concepts presented, and creating a lively, engaging learning tool.

Subject Term:

Corporations -- Finance.

Added Author:

Tarbert, Heather.

Electronic Access:

Companion Website http://www.oxfordtextbooks.co.uk/orc/marney/

Copies:

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Summary

Corporate Finance for Business is a pedagogically innovative and interactive text that introduces and develops core corporate finance concepts in a way that will capture the imagination of business and management students. Offering an in-depth examination of the key areas of the field, authors John-Paul Marney and Heather Tarbert provide accessible coverage of both conceptual and technical material. The text features interesting illustrations, topical examples, and real-life cases that help students engage with the material. Each chapter begins with a carefully developed and integrated running case study that follows a fictional company from start-up to takeover and demonstrates the practical applications of theoretical and technical concepts.

Featuring an exceptionally fluid and lively writing style, Corporate Finance for Business employs an "active learning" approach that incorporates case-study questions, reflective questions and activities, end-of-chapter practice questions, and suggestions for presentations and group work. In addition, it reflects the increasingly international nature of corporate finance (by using examples and case studies with a global dimension) and also acknowledges the social and ethical dimensions of the field.

A Companion Website offers resources for students including key learning points for each chapter; additional case studies; self-test multiple-choice questions; audio chapter summaries; and links to relevant articles for each chapter. It also contains instructor resources including customizable PowerPoint-based slides; a solutions manual; questions and answers to accompany the online case studies; suggestions for discursive questions; and a test bank.