公司财务：理论与欧洲实践 CORPORATE FINANCE - THEORY AND PRACTICE fb2 免费 lrf 下载 kindle azw3 pdf 阿里云

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

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

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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