公司财务：理论与欧洲实践 CORPORATE FINANCE - THEORY AND PRACTICE
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作者： Pierre Vernimmen著
出 版 社： John Wiley & Sons
出版时间： 2005-12-1字数：版次： 1页数： 1030印刷时间： 2005/12/01开本：印次：纸张： 胶版纸I S B N ： 9780470092255包装： 平装编辑推荐
作者简介：
Pascal Quiry is an adjunct finance teacher in the leading French business school HEC Paris, and a managing director at BNP Paribas Corporate Finance, specialising
内容简介
Corporate Finance: Theory and Practice covers the theory and practice of Corporate Finance from a truly European perspective. It shows how to use financial theory to solve practical problems and is written for students of corporate finance and financial analysis and practising corporate financiers. Corporate Finance is split into four sections and covers the basics of financial analysis; the basic theoretical knowledge that you will need to value a firm; the major types of financial securities: equity, debt & options and finally financial management which shows you how to organise a company’s equity capital, buying and selling companies, M&A, bankruptcy and cash flow management.
Key features include:
A section on financial analysis – a Corporate Financier must understand a company based on a detailed analysis of its accounts. Large numbers neglected this approach during the last stock market bubble and were caught in the crash that inevitably followed. How many investors took the trouble to read Enron’s annual report? Those who did found that it spoke volumes!
End of Chapter Summary, Questions and Answers, Glossary, European Case Studies
A supporting Website http://www.vernimmen.com with free access to statistics, a glossary & lexicon; articles, notes on financial transactions, basic financial figures for more than 10,000 European and US listed companies, thesis topics, a bibliography; case studies, Q&A; A letter box for your questions to the authors – a reply guaranteed within 72 hours!
A free monthly newsletter on Corporate Finance sent out to subscribers to the site.
The book, the website www.vernimmen.com and the Vernimmen.com newsletter are all written and created by an author team who are both investment bankers/corporate financiers and academics.
"Impressive book for finance professionals - Probably the best recently published Corporate Finance book with a truly European emphasis. The balance between theory and practice makes this book an excellent tool for Investment Bankers and other finance professionals, as it covers both basic as well as more sophisticated topics. Particularly impressive is their commitment to continuously updating material, as well as the regular publication of a newsletter containing timely articles on various current finance topics. The possibility of asking questions to the authors and effectively receiving in-depth answers for free is a very valuable feature. I sincerely recommend this text." Amazon.co.uk 31 October 2005
"An excellent book for all business students - For a few months already, the Vernimmen.com website had been helping me for my finance class, as well as the monthly newsletter. I finally bought the book, and I have not been disappointed: the style is clear, very practical ; theories are mixed with real cases, which makes them easy to understand. Valuation techniques are well explained (discounted cash flow methods, methods based on ratios). Fundamental concepts (accounting, finance, financial markets) are recalled in the first part; when more complex concepts are tackled (investment analysis, LBOs, capital structure...), they are explained with lots of simplicity and conciseness.
I recommend this book for every student in Management or Finance!"
Amazon.co.uk 30 July 2005
目录
Foreword by Richard Roll
Preface
List of Frequently Used Symbols
1.What is corporate finance?
Section I: Financial analysis
PART ONE: FUNDAMENTAL CONCEPTS IN FINANCIAL ANALYSIS
2.Cash flows
3.Earnings
4.Capital employed and invested capital
5.Walking through from earnings to cash flow
6.Getting to grips with consolidated accounts
7.How to cope with the most complex points in financial accounts
PART TWO: FINANCIAL ANALYSIS AND FORECASTING
8.How to perform a financial analysis
9.Margin analysis: Structure
10.Margin analysis: Risks
11.Working capital and capital expenditures
12.Financing
13.Return on capital employed and return on equity
14.Conclusion of financial analysis
Section II: Investment analysis
PART ONE: INVESTMENT DECISION RULES
15.The financial markets
16.The time value of money and net present value (NPV)
17.The internal rate of return (IRR)
18.Incremental cash flows and other investment criteria
19.Measuring value creation
20.Risk and investment analysis
PART TWO: THE RISK OF SECURITIES AND THE COST OF CAPITAL
21.Risk and return
22.The cost of equity
23.From the cost of equity to the cost of capital
24.The term structure of interest rates
Section III: Corporate financial policies
PART ONE: FINANCIAL SECURITIES
25.Enterprise value and financial securities
26.Bonds
27.Other debt products
28.Shares
29.Options
30.Hybrid securities
31.Selling securities
PART TWO: CAPITAL STRUCTURE POLICIES
32.Value and corporate finance
33.Capital structure and the theory of perfect capital markets
34.The trade-off model
35.Debt, equity and options theory
36.Working out details: the design of the capital structure
PART THREE: EQUITY CAPITAL AND DIVIDEND POLICIES
37.Internal financing: reinvesting cash flow
38.Returning value to shareholders: dividend policies
39.Capital increases
Section IV: Financial management
PART ONE: VALUATION AND FINANCIAL ENGINEERING
40.Valuation
41.Choice of corporate structure
42.Taking control of a company
43.Mergers and demergers
44.LBOs
45.Bankruptcy and restructuring
PART TWO: MANAGING NET DEBT AND FINANCIAL RISKS
46.Managing cash flows
47.Asset-based financing
48.Managing financial risks
Appendices
Glossary
Index
Vernimmem.com
Cribsheet
