Tài liệu Corporate finance - Introduce doc

[...]... concepts The capital-employed analysis of the balance sheet A solvency-and-liquidity analysis of the balance sheet A detailed example of a capital-employed balance sheet 5 Walking through from earnings to cash flow 5.1 5.2 Analysis of earnings from a cash flow perspective Cash flow statement 6 Getting to grips with consolidated accounts 6.1 6.2 6.3 Consolidation methods Consolidation-related issues Technical... flow Multiple approach or peer group comparisons The sum-of-the-parts method and Restated Net Asset Value (RNAV) Example: valuation of Ericsson Comparison of valuation methods 813 814 818 826 832 835 837 844 844 853 857 865 867 41 Choice of corporate structure 41.1 41.2 41.3 41.4 41.5 Shareholder structure Initial Public Offerings (IPOs) and corporate governance How to strengthen control over a company... cover the full scope of corporate finance as it is practised today in Europe A way of thinking about finance There are four key features that distinguish this book from the many other corporate finance textbooks available on the market today: Our strong belief that financial analysis is part of corporate finance Pierre Vernimmen, who was the mentor and partner in the practice of corporate finance of some... newsletter on corporate finance Since (unfortunately) we can’t bring out a new edition of the Vernimmen every month, we have set up the Vernimmen.com Newsletter, which is sent out free of charge to subscribers by means of the Internet It contains: A conceptual look at a topical corporate finance problem (e.g., the European company: a new tool to facilitate cross-border mergers, EU anti-concentration... All too often we have seen corporate leaders or treasurers assume excessive risk when choosing a source of financing because they have based their decision on a single criterion: the respective cost of the different sources of funds For example: increasing short-term debt on the pretext that short-term interest rates are lower than long-term rates can be a serious mistake; 3 4 Corporate finance granting... company: a new tool to facilitate cross-border mergers, EU anti-concentration regulations, the value of synergies) Statistics or tables that you are likely to find useful in the day-to-day practice of corporate finance (e.g., worldwide corporate income tax rates, yield curves, IPOs since 1987) A critical review of a financial research paper with a concrete dimension (e.g., conglomerates and diversification, new... they are much easier to grasp when they are set in a familiar context Written by Europeans for Europeans, Corporate Finance explains how finance works on European markets, such as London, Frankfurt and Madrid The four sections This book starts with an introductory chapter reiterating the idea that corporate financiers are the bridge between the economy and the realm of finance Increasingly, they must play... statistical calculations It has an extensive glossary and a comprehensive research bibliography about every important topic in finance It even has quizzes to test your financial acumen, cross-referenced against chapters in Corporate Finance where the answers, given briefly on the Web, are explained in detail I enjoyed going through these quizzes even though getting a few wrong answers was humbling It seems to me... public offerings (IPOs) Capital increases Block trades of shares Bonds Convertible and exchangeable bonds Syndicated loans Part Two Capital structure policies 32 Value and corporate finance 32.1 32.2 32.3 32.4 32.5 The purpose of finance is to create value Value creation and markets in equilibrium Value and organisation theories How can we create value? Value and taxation 33 Capital structure and the... value it, while at the same time mastering the conceptual underpinnings of all financial decisions Corporate Finance is neither a theoretical textbook nor a practical workbook It is a book in which theory and practice are constantly set off against each other, in the same way as we do in our daily practice of corporate finance, as investment bankers at BNP Paribas, DGPA, Mediobanca, as board members of several . this book is available from the British Library ISBN-13 97 8-0 -4 7 0-0 922 5-5 (PB) ISBN-10 0-4 7 0-0 922 5-4 (PB) Project management by Originator, Gt Yarmouth,. His book, Finance d’Entreprise, was and still is the top-selling financial textbook in French-speaking countries and is the forebear of Corporate Finance: