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Autorentext
Denzil Watson is a Principal Lecturer, and Antony Head is an Associate Lecturer in the Sheffield Business School at Sheffield Hallam University. They both have extensive experience teaching Corporate Finance, managerial finance, and strategic financial management in a wide range of courses, at undergraduate, postgraduate, and professional levels.
Zusammenfassung
In this new and fully updated Eighth Edition, the core concepts and topics of corporate finance are introduced in an approachable, user-friendly style. Key principles and mathematical techniques needed for a career in business are clearly explained step-by-step and are put into practice through numerous examples and vignettes which take a closer look at real-world and well-known companies.
What’s new?
Chapter vignettes are refreshed and the accompanying questions are updated, with the aim of deepening student's knowledge of key contemporary issues
Up-to-date with the latest changes in regulations and taxation, such as the UK tax treatment of dividends
Denzil Watson is a Principal Lecturer and Antony Head is an Associate Lecturer in the Sheffield Business School at Sheffield Hallam University. They have extensive experience of teaching corporate finance, managerial finance and strategic financial management over many years and in a wide range of courses at undergraduate, postgraduate and professional level.
This package includes MyLab Finance. Students, if MyLab Finance is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyLab Finance should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.
Inhalt
* 1.1 Two key concepts in corporate finance
* 1.2 The role of the financial manager
* 1.3 Corporate objectives
* 1.4 How is shareholder wealth maximised?
* 1.5 Agency theory
* 1.6 Corporate governance
* 1.7 Conclusion * 2.1 Sources of business finance
* 2.2 Capital markets
* 2.3 Capital market efficiency
* 2.4 Assessing financial performance
* 2.5 Conclusion * 3.1 The objectives of working capital management
* 3.2 Working capital policies
* 3.3 Working capital and the cash conversion cycle
* 3.4 Overtrading
* 3.5 Managing inventory
* 3.6 Managing cash
* 3.7 Managing trade receivables
* 3.8 Conclusion * 4.1 Equity finance
* 4.2 The Stock Exchange
* 4.3 Rights issues
* 4.4 Scrip issues, share splits, scrip dividends and share repurchases
* 4.5 Preference shares
* 4.6 Conclusion * 5.1 Bonds, loan notes, loan stock and debentures
* 5.2 Bank and institutional debt
* 5.3 International debt finance
* 5.4 Convertible bonds
* 5.5 Warrants
* 5.6 Valuing fixed interest bonds
* 5.7 Valuing convertible bonds
* 5.8 Leasing
* 5.9 Evaluating the financial effects of financing choices
* 5.10 Conclusion * 6.1 The payback method
* 6.2 The return on capital employed method
* 6.3 The net present value method
* 6.4 The internal rate of return method
* 6.5 Comparing the NPV and IRR methods
* 6.6 The profitability index and capital rationing
* 6.7 The discounted payback method
* 6.8 Conclusion * 7.1 Relevant project cash flows
* 7.2 Taxation and capital investment decisions
* 7.3 Inflation and capital investment decisions
* 7.4 Investment appraisal and risk
* 7.5 Appraisal of foreign direct investment
* 7.6 Empirical investigations of investment appraisal
* 7.7 Conclusion * 8.1 The measurement of risk
* 8.2 The concept of diversification
* 8.3 Investor attitudes to risk
* 8.4 Markowitz's portfolio theory
* 8.5 Introduction to the capital asset pricing model
* 8.6 Using the CAPM to value shares
* 8.7 Empirical tests of the CAPM
* 8.8 Conclusion * 9.1 Calculating the cost of individual sources of finance
* 9.2 Calculating the weighted average cost of capital
* 9.3 Average and marginal cost of capital
* 9.4 The CAPM and investment appraisal
* 9.5 Practical problems with calculating WACC
* 9.6 WACC in the real world
* 9.7 The cost of capital for foreign direct investment
* 9.8 Gearing: its measurement and significance
* 9.9 The concept of an optimal capital structure
* 9.10 The traditional approach to capital structure
* 9.11 Miller and Modigliani (I): net income approach
* 9.12 Miller and Modigliani (II): corporate tax
* 9.13 Market imperfections
* 9.14 Miller and personal taxation
* 9.15 Pecking order theory
* 9.16 Conclusion: does an optimal capital structure exist? * 10.1 Dividends: operational and practical issues
* 10.2 The effect of dividends on shareholder wealth
* 10.3 Dividend irrelevance
* 10.4 Dividend relevance
* 10.5 Dividend relevance or irrelevance?
* 10.6 Dividend policies
* 10.7 Alternatives to cash dividends
* 10.8 Empirical evidence on dividend policy
* …