The Theory of Corporate Finance

Setting a new milestone in the field, The Theory of Corporate Finance will be the authoritative text for years to come.

Author: Jean Tirole

Publisher: Princeton University Press

ISBN: 9781400830220

Category: Business & Economics

Page: 656

View: 704

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The past twenty years 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.
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The Modern Theory of Corporate Finance

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: M. C. Jensen

Publisher: McGraw-Hill/Irwin

ISBN: UOM:49015000747486

Category: Business & Economics

Page: 695

View: 471

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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.
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The Modern Theory of Corporate Finance

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: Michael C. Jensen

Publisher: McGraw-Hill Companies

ISBN: MINN:31951001126630N

Category: Corporations

Page: 773

View: 710

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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.
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Corporate Finance

This is not a book with obscureformulae, yet is still rigorous and at the same time a model ofclarity." —RICHARD ROLL, JOEL FRIED PROFESSOR OF APPLIED FINANCE ATUCLA ANDERSON

Author: Pierre Vernimmen

Publisher: John Wiley & Sons

ISBN: 9781118849293

Category: Business & Economics

Page: 1000

View: 853

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Merging theory and practice into a comprehensive,highly-anticipated text Corporate Finance continues its legacy as one of the mostpopular financial textbooks, with well-established content from adiverse 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 beintroduced to concepts in a situational framework, followed by adetailed discussion of techniques and tools. This latest editionincludes new information on venture finance and debt structuring,and has been updated throughout with the most recent statisticaltables. The companion website provides statistics, graphs, charts,articles, computer models, and classroom tools, and the freemonthly newsletter keeps readers up to date on the latesthappenings in the field. The authors have generously madethemselves available for questions, promising an answer inseventy-two hours. Emphasizing how key concepts relate to real-world situations iswhat makes Corporate Finance a valuable reference with realrelevance to the professional and student alike. Readers will gaininsight 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 andtechniques of valuation Understand cash dividends and buybacks, spinoffs, anddivestitures Explore the link between valuation and corporate finance As the global economy begins to recover, access to the mostcurrent information and statistics will be required. To remainrelevant in the evolving financial environment, practitioners willneed a deep understanding of the mechanisms at work. CorporateFinance provides the expert guidance and detailed explanationsfor those requiring a strong foundational knowledge, as well asmore advanced corporate finance professionals.
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Theoretical Foundations of Corporate Finance

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.

Author: João Amaro de Matos

Publisher: Princeton University Press

ISBN: 9780691188478

Category: Business & Economics

Page: 302

View: 735

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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.
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Value

This book gives corporate leaders a clear base of knowledge for creating and sustaining value under any economic, industry, or company circumstances." —Dominic J. Caruso, Chief Financial Officer, Johnson & Johnson "More than a handbook, ...

Author: McKinsey & Company Inc.

Publisher: John Wiley & Sons

ISBN: 0470949082

Category: Business & Economics

Page: 272

View: 302

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An accessible guide to the essential issues of corporate finance While you can find numerous books focused on the topic of corporate finance, few offer the type of information managers need to help them make important decisions day in and day out. Value explores the core of corporate finance without getting bogged down in numbers and is intended to give managers an accessible guide to both the foundations and applications of corporate finance. Filled with in-depth insights from experts at McKinsey & Company, this reliable resource takes a much more qualitative approach to what the authors consider a lost art. Discusses the four foundational principles of corporate finance Effectively applies the theory of value creation to our economy Examines ways to maintain and grow value through mergers, acquisitions, and portfolio management Addresses how to ensure your company has the right governance, performance measurement, and internal discussions to encourage value-creating decisions A perfect companion to the Fifth Edition of Valuation, this book will put the various issues associated with corporate finance in perspective.
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Private Capital Markets Website

This book remains a must for everyone involved in appraising, buying, selling, or financing privately owned businesses." —Raymond C. Miles, founder, The Institute of Business Appraisers "The Graziadio School of Business has used the ...

Author: Robert T. Slee

Publisher: John Wiley & Sons

ISBN: 9780470928325

Category: Business & Economics

Page: 609

View: 881

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Praise for Private Capital Markets Valuation, Capitalization, and Transfer of Private Business Interests SECOND EDITION "In the years since publication of the first edition of Private Capital Markets, the concepts and ideas that it presents have been widely accepted by progressive members of the business valuation community. Now with the Second Edition, author Rob Slee has included empirical data on capital markets for midsized businesses. This book remains a must for everyone involved in appraising, buying, selling, or financing privately owned businesses." —Raymond C. Miles, founder, The Institute of Business Appraisers "The Graziadio School of Business has used the Private Capital Markets book for several years with great success. This course, along with the Pepperdine Private Capital Markets Survey project, has helped our students better prepare for careers in middle market companies." —Linda Livingstone, Dean of the Graziadio School of Business and Management, Pepperdine University "Our international association of independent M&A professionals recommends this text as the most comprehensive foundation for understanding the private capital marketplace. This book is essential reading for middle market M&A advisors, investors, and other decision-makers in the private capital markets." —Mike Nall, founder, Alliance of M&A Advisors A practical road map for making sound investment and financing decisions based on real experiences and market needs Now fully revised and in a second edition, Private Capital Markets provides lawyers, accountants, bankers, estate planners, intermediaries, and other professionals with a workable framework for making sound investment and financing decisions based on their own needs and experiences. This landmark resource covers: Private business valuation Middle market capital sources The business ownership transfer spectrum And much more Private Capital Markets, Second Edition surveys the private capital markets and presents the proven guidance you need to navigate through these uncharted waters.
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A History of Corporate Finance

An overview of the role of institutions and organisations in the development of corporate finance.

Author: Jonathan Barron Baskin

Publisher: Cambridge University Press

ISBN: 0521655366

Category: Business & Economics

Page: 350

View: 691

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An overview of the role of institutions and organisations in the development of corporate finance.
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Corporate Finance

This is not a book with obscure formulae, yet is still rigorous and at the same time a model of clarity." —RICHARD ROLL, JOEL FRIED PROFESSOR OF APPLIED FINANCE AT UCLA ANDERSON

Author: Pierre Vernimmen

Publisher: John Wiley & Sons

ISBN: 9781118849330

Category: Business & Economics

Page: 1000

View: 574

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Capital Structure and Corporate Financing Decisions

This timely guide contains a wealth of information that will allow you to understand the factors that influence capital structure and financing decisions, and put you in a better position to effectively use these insights in real-world ...

Author: H. Kent Baker

Publisher: John Wiley & Sons

ISBN: 9781118022948

Category: Business & Economics

Page: 504

View: 104

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A comprehensive guide to making better capital structure and corporate financing decisions in today's dynamic business environment Given the dramatic changes that have recently occurred in the economy, the topic of capital structure and corporate financing decisions is critically important. The fact is that firms need to constantly revisit their portfolio of debt, equity, and hybrid securities to finance assets, operations, and future growth. Capital Structure and Corporate Financing Decisions provides an in-depth examination of critical capital structure topics, including discussions of basic capital structure components, key theories and practices, and practical application in an increasingly complex corporate world. Throughout, the book emphasizes how a sound capital structure simultaneously minimizes the firm's cost of capital and maximizes the value to shareholders. Offers a strategic focus that allows you to understand how financing decisions relates to a firm's overall corporate policy Consists of contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Contains information from survey research describing actual financial practices of firms This valuable resource takes a practical approach to capital structure by discussing why various theories make sense and how firms use them to solve problems and create wealth. In the wake of the recent financial crisis, the insights found here are essential to excelling in today's volatile business environment.
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Corporate Finance and Capital Structure

This book discusses several key theories of corporate capital structure to answer how funding structure shapes an institution’s value. In this book, the author emphasizes the microeconomic foundations of capital structure theory.

Author: Kentaro Asai

Publisher: Routledge

ISBN: 9781000320497

Category: Business & Economics

Page: 98

View: 885

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Capital structure choice is essential for an institution to maximize its value. Because the institution’s decision maker decides how to finance projects before making investment decisions, its financial decisions ultimately affect every aspect of operations thereafter. This book discusses several key theories of corporate capital structure to answer how funding structure shapes an institution’s value. In this book, the author emphasizes the microeconomic foundations of capital structure theory. He shows how various microeconomic frameworks, such as price and game theories, principal–agent model, and mechanism design, can be applied to solve the optimal capital structure of a firm. By getting used to optimizing corporate capital structures subject to various constraints via microeconomic frameworks, readers will become capable of investigating how to finance projects in their own setups. Thus, this book not only informs readers of specific knowledge but also provides them with tools to solve new problems that they will face in their future. This book will be a valuable resource for students of corporate finance at the postgraduate or doctoral level and will serve as the material for professional training aimed at practitioners and regulators with technical expertise.
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Corporate Finance

Its new topics include: - Corporate Financial Flexibility (Real options) - New Financial Instruments - Project Finance - Acquisitions and Control - Performance Measurement and Incentive Compensation The goal of this book is to provide a ...

Author: S R Vishwanath

Publisher: SAGE Publishing India

ISBN: 9789351500070

Category: Business & Economics

Page: 764

View: 797

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This—revised and enhanced—book examines the role of finance in supporting other functional areas while fostering an understanding of how financial decisions can create value. Corporate Finance covers areas related to estimating divisional cost of capital; executing a financing strategy; establishing debt and dividend policies consistent with the company`s strategy and environment; choosing between dividends and stock repurchases; managing high growth and managing working capital. Its new topics include: - Corporate Financial Flexibility (Real options) - New Financial Instruments - Project Finance - Acquisitions and Control - Performance Measurement and Incentive Compensation The goal of this book is to provide a thorough understanding of how and why firms make their financial decisions the way they do and their impact on shareholder value. The central theme of the book is Value Based Management, which assumes that maximizing shareholder value is the governing objective of a firm. Each chapter of this new edition has detailed and real-life cases to help students easily understand and grasp concepts. The author has also provided the case-map of the Harvard Business School to make this book more user-friendly in classrooms. The inclusion of several new topics/cases, extensive pedagogical tools and a finance-for-non-finance approach make this book ideal for MBA/CA/CFA/ICWA students and executive education programs.
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Corporate Finance

This is not a book with obscure formulae, yet is still rigorous and at the same time a model of clarity." —RICHARD ROLL, Joel Fried Professor of Applied Finance at UCLA Anderson School of Management

Author: Pierre Vernimmen

Publisher: John Wiley & Sons

ISBN: 9781119424482

Category: Business & Economics

Page: 1024

View: 704

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Revised edition of Corporate finance, 2014.
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Corporate Finance

The book introduces corporate finance to first year students in business schools.

Author: Sunil Mahajan

Publisher: Cambridge University Press

ISBN: 9781108856683

Category: Business & Economics

Page:

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The book introduces corporate finance to first year students in business schools. Basic subjects such as marketing, human resources and finance are all fundamental to the learning of a business manager. A book on these subjects must emphasise learning that is conceptual in nature and at the same time, application oriented. This book attempts to achieve this in a manner that is comprehensive and shorn of complexity. It examines the practice of finance without diluting theory and conceptual knowledge. Corporate finance is necessarily quantitative in nature and the book duly places emphasis on that aspect. It ensures the primacy of ideas and concepts utilising numbers as supportive elements.
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Lessons in Corporate Finance

This book will help any manager make better investment and financing decisions." —Steven Neil Kaplan, Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance, The University of Chicago Booth School of Business ...

Author: Paul Asquith

Publisher: John Wiley & Sons

ISBN: 9781119537830

Category: Business & Economics

Page: 544

View: 658

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An intuitive introduction to fundamental corporate finance concepts and methods Lessons in Corporate Finance, Second Edition offers a comprehensive introduction to the subject, using a unique interactive question and answer-based approach. Asking a series of increasingly difficult questions, this text provides both conceptual insight and specific numerical examples. Detailed case studies encourage class discussion and provide real-world context for financial concepts. The book provides a thorough coverage of corporate finance including ratio and pro forma analysis, capital structure theory, investment and financial policy decisions, and valuation and cash flows provides a solid foundational knowledge of essential topics. This revised and updated second edition includes new coverage of the U.S. Tax Cuts and Jobs Act of 2017 and its implications for corporate finance valuation. Written by acclaimed professors from MIT and Tufts University, this innovative text integrates academic research with practical application to provide an in-depth learning experience. Chapter summaries and appendices increase student comprehension. Material is presented from the perspective of real-world chief financial officers making decisions about how firms obtain and allocate capital, including how to: Manage cash flow and make good investment and financing decisions Understand the five essential valuation methods and their sub-families Execute leveraged buyouts, private equity financing, and mergers and acquisitions Apply basic corporate finance tools, techniques, and policies Lessons in Corporate Finance, Second Edition provides an accessible and engaging introduction to the basic methods and principles of corporate finance. From determining a firm’s financial health to valuation nuances, this text provides the essential groundwork for independent investigation and advanced study.
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Corporate Finance and the Theory of the Firm

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 ...

Author: Stefan Detscher

Publisher: GRIN Verlag

ISBN: 9783638842402

Category:

Page: 76

View: 864

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Scholarly Research Paper from the year 2003 in the subject Business economics - Investment and Finance, grade: 2,0 (B), European Business School - International University Schloss Reichartshausen Oestrich-Winkel (Corporate Finance and Capital Markets), language: English, comment: This seminar paper examines the links between corporate finance and the theory of the firm. After providing theoretical foundations in corporate finance and the theory of the firm are provided, the interrelation between corporate finance and the theory of the firm is evaluated by using a 3x3 matrix. This matrix compares three important theoretical frameworks of the firm with three major fields of corporate finance., 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 in
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