Theoretical Foundations Of Corporate Finance

Author : João Amaro de Matos
Publisher : Princeton University Press
Page : 302 pages
File Size : 44,8 Mb
Release : 2018-06-05
Category : Business & Economics
ISBN : 9780691188478

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Theoretical Foundations of Corporate Finance by João Amaro de Matos Pdf

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
Page : 76 pages
File Size : 53,6 Mb
Release : 2007-11
Category : Electronic
ISBN : 9783638842402

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Corporate Finance and the Theory of the Firm by Stefan Detscher Pdf

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 : Anonim
Publisher : Unknown
Page : 221 pages
File Size : 40,9 Mb
Release : 2019
Category : Corporations
ISBN : 1999132300

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Foundations of Corporate Finance by Anonim Pdf

Author : Pierre Vernimmen,Pascal Quiry,Yann Le Fur
Publisher : John Wiley & Sons
Page : 1044 pages
File Size : 50,8 Mb
Release : 2022-02-22
Category : Business & Economics
ISBN : 9781119841623

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Corporate Finance by Pierre Vernimmen,Pascal Quiry,Yann Le Fur Pdf

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 : Jean Tirole
Publisher : Princeton University Press
Page : 657 pages
File Size : 40,6 Mb
Release : 2010-08-26
Category : Business & Economics
ISBN : 9781400830220

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The Theory of Corporate Finance by Jean Tirole Pdf

"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 : Kentaro Asai
Publisher : Routledge
Page : 105 pages
File Size : 46,6 Mb
Release : 2020-12-30
Category : Business & Economics
ISBN : 9781000320497

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Corporate Finance and Capital Structure by Kentaro Asai Pdf

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 : Pierre Vernimmen,Pascal Quiry,Maurizio Dallocchio,Yann Le Fur,Antonio Salvi
Publisher : John Wiley & Sons
Page : 1010 pages
File Size : 42,7 Mb
Release : 2017-12-11
Category : Business & Economics
ISBN : 9781119424482

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Corporate Finance by Pierre Vernimmen,Pascal Quiry,Maurizio Dallocchio,Yann Le Fur,Antonio Salvi Pdf

The essential corporate finance text, updated with new data Corporate Finance has long been a favourite among both students and professionals in the field for its unique blend of theory and practice with a truly global perspective. The fact that the authors are well-known academics and professionals in the world of mergers and acquisitions (M&A) and investment explains this popularity. This new Fifth Edition continues the tradition, offering a comprehensive tour of the field through scenario-based instruction that places concept and application in parallel. A new chapter has been added, devoted to the financial management of operating buildings that aims to answer questions such as, “to own or to rent?” “variable or fixed rents?” etc. The book’s companion website features regularly updated statistics, graphs and charts, along with study aids including quizzes, case studies, articles, lecture notes and computer models, reflecting the author team’s deep commitment to facilitating well-rounded knowledge of corporate finance topics. In addition, a monthly free newsletter keeps the readers updated on the latest developments in corporate finance as well as the book’s Facebook page, which publishes a post daily. Financial concepts can be quite complex, but a familiar setting eases understanding while immediate application promotes retention over simple memorisation. As comprehensive, relevant skills are the goal, this book blends academic and industry perspective with the latest regulatory and practical developments to provide a complete corporate finance education with real-world applicability. Blend theory and practice to gain a more relevant understanding of corporate finance concepts Explore the field from a truly European perspective for a more global knowledge base Learn essential concepts, tools and techniques by delving into real-world applications Access up-to-date data, plus quizzes, case studies, lecture notes and more A good financial manager must be able to analyse a company’s economic, financial and strategic situation, and then value it, all while mastering the conceptual underpinnings of all decisions involved. By emphasising the ways in which concepts impact and relate to real-world situations, Corporate Finance provides exceptional preparation for working productively and effectively in the field.

Author : Umberto Sagliaschi,Roberto Savona
Publisher : Springer Nature
Page : 206 pages
File Size : 43,7 Mb
Release : 2021-07-29
Category : Business & Economics
ISBN : 9783030778538

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Dynamical Corporate Finance by Umberto Sagliaschi,Roberto Savona Pdf

The way in which leverage and its expected dynamics impact on firm valuation is very different from what is assumed by the traditional static capital structure framework. Recent work that allows the firm to restructure its debt over time proves to be able to explain much of the observed cross-sectional and time-series variation in leverage, while static capital structure predictions do not. The purpose of this book is to re-characterize the firm’s valuation process within a dynamical capital structure environment, by drawing on a vast body of recent and more traditional theoretical insights and empirical findings on firm evaluation, also including asset pricing literature, offering a new setting in which practitioners and researchers are provided with new tools to anticipate changes in capital structure and setting prices for firm’s debt and equity accordingly.

Author : Pierre Vernimmen,Pascal Quiry,Maurizio Dallocchio,Yann Le Fur,Antonio Salvi
Publisher : John Wiley & Sons
Page : 994 pages
File Size : 40,7 Mb
Release : 2014-10-09
Category : Business & Economics
ISBN : 9781118849293

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Corporate Finance by Pierre Vernimmen,Pascal Quiry,Maurizio Dallocchio,Yann Le Fur,Antonio Salvi Pdf

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 : Ebenezer Ashley
Publisher : CreateSpace
Page : 158 pages
File Size : 44,6 Mb
Release : 2013-05-30
Category : Business & Economics
ISBN : 1481817426

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Principles of Corporate Finance Theory by Ebenezer Ashley Pdf

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 : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 43,6 Mb
Release : 2009
Category : Electronic
ISBN : OCLC:741250444

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The Theory of Corporate Finance by Anonim Pdf

Author : Michael C. Jensen,Clifford W. Smith
Publisher : McGraw-Hill Companies
Page : 788 pages
File Size : 44,7 Mb
Release : 1984
Category : Business & Economics
ISBN : MINN:31951001126630N

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The Modern Theory of Corporate Finance by Michael C. Jensen,Clifford W. Smith Pdf

This book of readings is an ideal supplement for courses in the theory of finance and corporate finance policy offered in MBA and Ph.D. programs, and for advanced courses in corporate finance offered in MBA or Ph.D. programs.

Author : Aswath Damodaran
Publisher : Unknown
Page : 920 pages
File Size : 50,7 Mb
Release : 1997
Category : Business & Economics
ISBN : STANFORD:36105022826866

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Corporate Finance by Aswath Damodaran Pdf

A text with a thoroughly integrated applications orientation revolving around the philosophy that companies need to know how to finance organizations in order to reach optimal capital structure. Recognizing that every investment decision involves choosing the right amount of debt and equity, the text suggests readers look at data and ask, "What is relevant? Why is this detail important? How does it answer the question?"

Author : Donald R. Chambers,Nelson J. Lacey
Publisher : Addison Wesley Publishing Company
Page : 648 pages
File Size : 40,6 Mb
Release : 1999
Category : Business & Economics
ISBN : UOM:49015002554260

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Modern Corporate Finance by Donald R. Chambers,Nelson J. Lacey Pdf

"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 : Stephen Lumby
Publisher : Unknown
Page : 796 pages
File Size : 51,8 Mb
Release : 2003
Category : Corporations
ISBN : 1283285193

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Corporate Finance by Stephen Lumby Pdf