internationl finance chapter 4

Tài liệu Corporate Finance handbook Chapter 1 ppt

Tài liệu Corporate Finance handbook Chapter 1 ppt
Ngày tải lên : 14/12/2013, 15:15
... 020 744 8 81 04 TMG Corporate Finance David Houghton is a director at TMG Corporate Finance, based in Manchester TMG specialises in the owner-managed business sector, advising on all corporate finance ... Equity 4. 1 Flotation Gary Peters, Old Mutual Securities 4. 2 Public Equity Markets Jonathan Reuvid 4. 3 Taxation Aspects of Flotation Maurice Fitzpatrick and Jay Sanghrajka, Tenon Group 4. 4 Legal ... SunAlliance ProFin Part Two: Debt Finance 2.1 Structured Finance John Bagley, NMB-Heller 2.2 Asset-based Finance Forward Trust 2.3 Finance for Foreign Trade Jonathan Reuvid 2 .4 Legal Issues for Failing...
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Tài liệu Corporate Finance handbook Chapter 2 docx

Tài liệu Corporate Finance handbook Chapter 2 docx
Ngày tải lên : 14/12/2013, 15:15
... Increasingly, businesses are looking towards asset finance houses to fund capital equipment The asset 46 Debt Finance finance idea is well over 60 years old and some finance houses have been providing both ... structured business finance provides is highly attractive to the corporate finance team involved in arranging the overall deal Structured business finance can provide a source of finance for the ... 50 Debt Finance Finance leases Finance leasing is on balance sheet, and operating leasing is off balance sheet, and there are strict rules governing which of the two you can have A finance lease...
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Tài liệu Corporate Finance handbook Chapter 3 ppt

Tài liệu Corporate Finance handbook Chapter 3 ppt
Ngày tải lên : 14/12/2013, 15:15
... focused 49 8 44 548 190 35 225 Expansion Secondary purchase Refinancing bank debt Total expansion MBO MBI Total MBO/MBI 1,109 310 255 55 539 48 1 51 260 101 159 1999 1,122 320 218 102 561 48 4 72 241 ... 100 6,371 29 3, 546 20 3,297 249 50 2,122 6,169 4, 666 4, 282 3 84 1,156 980 137 39 347 128 219 1999 3,775 2,665 2,129 536 822 688 131 288 111 177 1998 Amount invested (£ million) 43 2,012 99 – 11 ... 1,182 40 9 Total early stage Total 153 256 2000 Start-up Other early stage Financing stage Table 3.3.1 Distribution of investment, 2000 100 19 16 46 42 – 35 13 22 2000 100 28 23 49 43 23 14 1999...
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Tài liệu Corporate Finance handbook Chapter 4 pdf

Tài liệu Corporate Finance handbook Chapter 4 pdf
Ngày tải lên : 14/12/2013, 15:15
... 350,000 262,500 87,500 600,000 240 ,000 360,000 950,000 502,500 44 7,500 The overall chargeable gain after taper relief is 44 7,500, which, using a CGT rate of 40 per cent, produces CGT of £179,000 ... for the full 40 per cent STR The overall calculation of chargeable gain is set out in Table 4. 3.1 Table 4. 3.1 Chargeable gain for CGT Gain A £ Chargeable gain Less taper relief 75% /40 % Taxable ... sound 144 Public Equity the death knell for key second-tier markets such as AIM and the German Neuer Markt The author acknowledges with thanks his indebtedness to the Bank of England Domestic Finance...
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Tài liệu Corporate Finance handbook Chapter 5 doc

Tài liệu Corporate Finance handbook Chapter 5 doc
Ngày tải lên : 14/12/2013, 15:15
... Business David Houghton TMG Corporate Finance Introduction UK merger and acquisition activity totalled approximately £329 billion during 2000, consisting of 3, 049 deals (source: Thompson Financial ... overstretching the company’s finances A strong working relationship with the funders is also required and therefore partnering with the right group of funders is also essential Debt Debt finance, ie secured ... Acquisitions Mezzanine Mezzanine finance has evolved during the recent past and is now offered by a number of leading banks and independent organisations In essence, this type of finance falls between debt...
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Tài liệu Corporate Finance handbook Chapter 6 docx

Tài liệu Corporate Finance handbook Chapter 6 docx
Ngày tải lên : 14/12/2013, 15:15
... +44 (0)20 7323 43 00 Peter Waine – Hanson Green +44 (0)20 749 3 0837 10 Keith White and the UK200 Corporate Finance Panel +44 (0)1865 243 155 11 Antony Ripper +44 (0)1908 5 840 42 12 Chris Bundy +44 ... +44 (0)20 7928 3131 Nigel Stephens, CEO of Velo +44 (0)1628 898088 Alistair Singleton, Hanover Fox +44 (0)20 740 9 1177 Entrepreneurship at Russam GMS +44 (0)1582 666970 Nigel Kendall +44 (0) 148 3 ... +44 (0)1582 666970 Nigel Kendall +44 (0) 148 3 232 641 Clive Borthwick – Taylor Walton +44 (0)1582 731161 David Eales – Royal Bank of Scotland +44 (0)20 8367 7150 Interim management companies can...
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Tài liệu Corporate finance Part 1- Chapter 1 ppt

Tài liệu Corporate finance Part 1- Chapter 1 ppt
Ngày tải lên : 14/12/2013, 15:15
... payables 1 ,45 5 1,662 215 5,713 3,036 2,360 262 4, 509 2,173 2, 347 49 1 7,223 4, 093 3,292 555 5,279 1,003 1,6 24 625 5,191 3, 040 2,130 203 4, 978 47 5 1,156 326 3,205 2, 544 1,361 68 3,661 47 3 1,039 ... CAPITAL (1) 4, 950 7,201 4, 172 2,616 1,236 À ¼ Nonoperating receivables Nonoperating payables NONOPERATING WORKING CAPITAL (2) 1 ,46 0 1 ,41 2 48 1,232 1,665 43 3 2,3 74 2,273 101 1,757 2,167 40 9 5 84 3,013 ... under finance lease Equity in associated companies Long-term investments 1,039 112 2,666 32 296 191 1,297 1 04 2 ,40 4 39 305 271 1,319 108 1,688 129 342 339 939 43 7 1,088 200 245 627 597 580 130 324...
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Chapter 1 - The role and environment of managerial finance

Chapter 1 - The role and environment of managerial finance
Ngày tải lên : 16/12/2013, 14:45
... Australia Group Pty Ltd) – 978 144 2518193/ Gitman et al / Principles of Managerial Finance / 6th edition Finance and Business  Career opportunities in managerial finance: table01-02.jpg – Financial ... Pearson Australia Group Pty Ltd) – 978 144 2518193/ Gitman et al / Principles of Managerial Finance / 6th edition The Managerial Finance Function  Organisation of the finance function: – Is dependent ... Australia (a division of Pearson Australia Group Pty Ltd) – 978 144 2518193/ Gitman et al / Principles of Managerial Finance / 6th edition Finance and Business  Strengths of the basic legal forms of...
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Tài liệu Corporate finance Part 1- Chapter 2 ppt

Tài liệu Corporate finance Part 1- Chapter 2 ppt
Ngày tải lên : 24/12/2013, 02:17
... Aerospace and defence 4. 8 6.2 6.6 7.1 5.6 7.3 6.3 6.3 7.8 7.7 7.8 Automotive 3.0 3.9 4. 8 4. 7 4. 0 2.9 3.7 3.3 4. 0 4. 2 4. 9 Beverages 11.3 14. 4 14. 6 15.6 15.7 16.1 16.9 16.9 16 .4 16.9 17 .4 Building materials ... 12.9 14. 1 14. 4 14. 9 Pharmaceuticals 20.0 19.1 21.2 21.3 22.5 23.9 25.0 24. 6 25.6 26.5 27.2 Software 22.5 25.6 21.5 17.0 14. 8 18 .4 21.2 23 .4 25.0 25.0 25.7 7.0 6.8 6.6 8.0 7 .4 6 .4 5.6 5.6 5 .4 5.6 ... 9.5 10 .4 11.0 12.0 11.6 11.8 13.3 13.0 13.3 13.5 Food retail 3.7 3.9 3.9 3.8 3.8 3.9 4. 0 4. 0 3.9 4. 2 4. 3 General retail 4. 2 5.6 7 .4 7.6 7.8 8.3 8.9 8.9 9 .4 10.5 10.7 IT hardware 5 .4 7.5 5 .4 7.8...
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Tài liệu Corporate finance Part 2- Chapter 1 pdf

Tài liệu Corporate finance Part 2- Chapter 1 pdf
Ngày tải lên : 24/12/2013, 02:17
... 133,100 13,310 146 ,41 0 2000 146 ,41 0 14, 641 161,051 2001 161,051 16,105 177,156 2002 177,156 17,716 1 94, 872 2003 1 94, 872 19 ,48 7 2 14, 359 20 04 2 14, 359 21 ,43 6 235,795 2005 235,795 23,579 259,3 74 If we keep ... than money! 14/ 14 Â 1.18 ¼ ¼ 27 C 15/¼ 137, because the whole of the return on this share is in the dividend C 7% Â ¼ 137 ¼ ¼ 9.6 C C 16/ 40 2; 240 ; 109; 0; À90 17/ 1,000; 1 ,42 9 18/¼ 248 .7; ¼ 1,000 ... following discounting factors: Year Discounting factor 0.833 0.6 94 0.579 0 .48 2 0 .40 2 Present value of cash flow 0.67 0.56 0 .46 0.39 0.32 299 Chapter 16 The time value of money and net present value As...
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Tài liệu Corporate finance Part 2- Chapter 2 pdf

Tài liệu Corporate finance Part 2- Chapter 2 pdf
Ngày tải lên : 24/12/2013, 02:17
... ¼ VðrÞ Risk formula 3 94 The risk of securities and the cost of capital The variance of investment A above is therefore: 12 74 14  ðÀ22% À 4% Þ þ  ð6% À 4% Þ þ  ð16% À 4% Þ 100 100 100 where VðrÞ ... Ericsson 37. 14 Roche 25.25 Novartis 33.37 Vodafone 43 .49 ´ Nestle 27.02 ENI 26.70 Total 27.05 GlaxoSmithKline 29.05 UBS 30.62 ´nica Telefo 36 .43 Royal Dutch 27.27 Deutsche Telekom 47 . 04 HSBC 26.00 ... 74 chances out of 100 of showing a return of 6% and 14 chances out of 100 of showing a return of 16%, its expected return would then be: À22%  12 74 14 þ 6%  þ 16%  ; 100 100 100 or about 4% ...
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Tài liệu Corporate finance Part 3- Chapter 1 ppt

Tài liệu Corporate finance Part 3- Chapter 1 ppt
Ngày tải lên : 24/12/2013, 02:17
... duration of 4. 46 years at issue Duration is linked to modified duration by a very simple equation, since: Duration ¼ ð1 þ rÞ Â Modified duration We can see that 4. 21 Â (1 þ 6.033%) ¼ 4. 46 years ... Default vs liquidity, European Financial Management, 8 (4) , 44 9 47 8, December 2002 D.K Eiteman, A Stonehill, M Moffett, Multinational Business Finance, Addison-Wesley, 1999 E Elton, M Gruber, D Agrawal, ... ¼ DIV4 = ðk À gÞ ¼ Â 1: 04= ð0:11 À 0: 04 ¼ ¼ 32:6; P0 ¼ ð1=1:11Þ þ ð2=1:11 Þ þ ð3 þ 32:6Þ= C 1:11 ¼ ¼ 37:3; P1 ¼ ð2=1:11Þ þ ð3 þ 32:6Þ=1:11 ¼ ¼ 37 C C 2/ k ¼ ðDIV1 =PÞ þ g ¼ ð3=25Þ þ 0: 04 ¼ 16%...
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Tài liệu Corporate finance Part 3- Chapter 2 pdf

Tài liệu Corporate finance Part 3- Chapter 2 pdf
Ngày tải lên : 24/12/2013, 02:17
... attention on: VD =ðVD þ VE Þ 0.00% 7 .49 % 14. 60% 21.35% 27.78% 33.90% No of shares 5,000 4, 513 4, 053 3,612 3, 141 2,630 Price  Share 130.0 136.8 144 .3 153.0 165.6 185 .4 ... 112,000 108,000 1 04, 000 100,000 Tax rate Taxes 35% (42 ,000) (40 ,600) (39,200) (37,800) (36 ,40 0) (35,000) Net income 78,000 75 ,40 0 72,800 70,200 67,600 65,000 Dividends 78,000 75 ,40 0 72,800 70,200 ... 111 ,40 0 – which gives an equity value for company C of 1 14, 000 À 24, 000 ¼ 90,000 and a P/E of 10.2 for company C and 11 .4 for company B 3/ (a) kE ¼ 8%: (b) kE ¼ 9.5% (c) ¼ 1.57 (d) D ¼ 0 .45 4/ ...
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Tài liệu Corporate finance Part 4- Chapter 1 pdf

Tài liệu Corporate finance Part 4- Chapter 1 pdf
Ngày tải lên : 24/12/2013, 02:17
... À 4, 246 4, 428 À1,292 7,299 4, 713 4, 6 64 À3,928 7,071 5,188 4, 746 4, 2 24 6,721 5,051 4, 101 505 6,639 5,3 04 4,306 868 6,703 5,622 4, 563 1,093 6,8 24 5,987 4, 860 1,255 7,052 6, 347 5,152 1,2 34 7,0 64 ... m): C Year Sales 3,960 4, 080 4, 200 4, 326 4, 458 Cost of good sold 1,782 1,7 94 1,806 1,860 1,917 Marketing costs 870 897 9 24 996 1,026 Administrative costs 396 40 8 42 0 43 2 44 7 Depreciation and amortisation ... 788 882 9 84 1,0 94 1,212 1, 340 1 ,47 7 À238 À250 À270 À280 À295 À310 46 2 538 627 723 8 24 932 1, 045 1,167 2,500 2,550 2,610 2,680 2,759 2,801 2, 840 2,850 500 525 551 579 596 6 14 632 642 À255 À261 Earnings...
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Tài liệu Corporate finance Part 4- Chapter 2 pptx

Tài liệu Corporate finance Part 4- Chapter 2 pptx
Ngày tải lên : 24/12/2013, 02:17
... described in Section 46 .3 remain the sole preserve of groups In Section 46 .4 we describe the products that the treasurer may use to invest the firm’s residual cash in hand Section 46 .1 Basic tenets ... concerns and offers him the following product: Chapter 48 Managing financial risks In months’ time, if the 6-month (floating benchmark) rate is above 2 .42 4% (the guaranteed rate), the bank pledges ... the difference between the market rate and 2 .42 4% on a predetermined principal In months’ time, if the 6-month (floating benchmark) rate is below 2 .42 4% (the guaranteed rate), the company will have...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 1 pdf

PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 1 pdf
Ngày tải lên : 05/07/2014, 13:20
... 49 ,600 49 ,40 0 19 ,40 0 3,600 6,000 $ 69,000 54, 400 26,000 3,600 6,000 Total expenses $100,000 $128,000 $159,000 Income before taxes Income tax expense (40 %) $ 140 ,000 56,000 $ 142 ,000 56,800 $ 141 ,000 ... $15,262 2 ,46 0 2,601 3,787 $ 8, 848 $19, 747 2,8 14 2,970 4, 035 $ 9,819 $22,956 3,002 3,775 5, 242 $12,019 Operating income Investment income Income before income taxes Income taxes Net income $ 6 ,41 4 703 ... convert net income to cash basis Cash from operations XXX1 XXX2 XXX3 $ 4, 490 $ 7,785 $ 9 ,42 1 3, 943 $ 8 ,43 3 5,352 $ 13,137 4, 540 $ 13,961 Financing Stock repurchased, net Stock warrants sold Preferred...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 2 doc

PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 2 doc
Ngày tải lên : 05/07/2014, 13:20
... 363,687 — 666,770 33,382 — 24, 805 (879,159) — — — — — (1,863,915) 41 7, 849 (48 ,45 1) (41 0 ,47 6) (116 ,49 1) 519,7 64 586 ,42 4 162,862 (1 64, 960) (41 6,506) $ 647 ,46 6 $(1 ,44 0, 746 ) Escalon Medical Corporation, ... $ 62.3 57.7 64. 0 41 .3 37 .4 $ 90.6 147 .5 67.6 41 .3 36.5 $262.7 $ 383.5 $ $ 4. 1 72 .4 44. 0 20.2 16.6 30.8 15.9 $2 04. 0 (13.1) 2.8 72 .4 21.5 40 .6 9.0 15.9 34. 9 $ 197.1 (5.7) 190.9 191 .4 $ 71.8 $ 192.1 ... Interest expense 1998 1999 $4, 176.6 $4, 029.7 $4, 2 84. 8 3,363.3 288.0 141 .0 — 3,226.5 278.0 161.2 — 3 ,41 9.8 309.8 210.7 99.7 3,792.3 3,665.7 4, 040 .0 3 84. 3 111.7 3 64. 0 84. 9 244 .8 123.7 Other income Income...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 3 pps

PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 3 pps
Ngày tải lên : 05/07/2014, 13:20
... Unit $ 140 $100 71 .4% $ 140 $100 71 .4% $ 140 $100 71 .4% Total 30 $4, 200 $3,000 50 $7,000 $5,000 70 $9,800 $7,000 Hats Per Unit $50 $ 24 48.0% $50 $ 24 48.0% $50 $ 24 48.0% Mix Total 10 $ 500 $ 240 20 ... Unit $ 140 Hats Total $ 50 7,000 Per Unit $50 Mix Total 20 $ 1,000 50.00% 71.3% 43 .75% 6.25% $5 64, 315 40 2,075 $49 3,776 352,697 $70,539 33,859 71 .4% 48 .0% $162, 241 $ 141 ,079 $36,680 Books 7,0 54 Packages ... 8,000 Per Unit $ 140 Hats Total $ 70 9,800 Per Unit $50 Mix Total 30 $ 1,500 41 .45 % 71.3% 50.78% 7.77% $46 2,585 329,592 $566,667 40 4,762 $86,735 41 ,633 71 .4% 48 .0% $132,993 $161,905 $45 ,102 Books...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 4 pps

PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 4 pps
Ngày tải lên : 05/07/2014, 13:20
... overall process cost us a total of $1 .49 5 million ($875 for identification, $210 for qualification, and $41 0 for selling) or about $150,000 per signed contract ($1 .49 5/10, rounded)—quite a bit less ... identify only those that understood your CVP and wanted to EXHIBIT 4. 4 Customer-sale activity analysis Best-Case Dropped Total $ 24, 000 $ 8,000 $31,000 $55,000 $18,300 Number of customers Estimated ... Worst-Case $1 54, 000 $ 22,000 $201,000 $355,000 $ 50,700 70 $ 232,000 N/A $(232,000) — 80 $41 0,000 N/A * Dropped Cost total was allocated based on relative total cost /customer ratios: 3× $8, 000 $ 24, 000...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 5 pptx

PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 5 pptx
Ngày tải lên : 05/07/2014, 13:20
... 3,200 4, 300 12,000 1,300 28,500 14, 000 3,200 4, 750 15,000 1 ,40 0 30,780 15,120 3,200 3,790 16,200 1,270 28,956 14, 2 24 3,200 4, 100 15, 240 1,500 30,096 14, 7 84 3,200 3,100 15, 840 1,550 35, 340 17,360 ... 58,150 14, 538 64, 640 16,160 59,780 14, 945 63 ,43 0 15,858 76,100 19,025 367,300 91,825 Net profit after taxes 33,900 43 ,613 48 ,48 0 44 ,835 47 ,573 57,075 275 ,47 5 Sales Cost of goods sold Gross profit ... 176 ,47 2 86,688 19,200 22, 840 92,880 8,620 Total operating expenses 54, 800 66,850 70,360 67,220 68,570 78,900 40 6,700 Net profit before taxes Income taxes 45 ,200 11,300 58,150 14, 538 64, 640 16,160...
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