From the Vernimmen author team, this book draws on the invaluable content amassed by the vernimmen.com website and newsletters, and in the successful Vernimmen Corporate Finance book. In a useful question and answer format, the book addresses the most frequently asked questions in corporate finance, giving authoritative answers from this reputed team who work in investment banking, corporate finance and academia. This book covers the theory and practice of Corporate Finance showing how to use financial theory to solve practical problems. A useful reference for both students of corporate finance and practising corporate financiers, the book addresses key questions in financial engineering, valuation, financial policy, cost of capital, financial analysis and financial management. Questions answered include: What are the advantages of UCITS over direct investments, and how do they work? What advantages are there for a group in spinning off its divisions into subsidiaries? Can this be considered to be a defence against a takeover? Is there a formula that can be used to determine the change in normalised free cash flows or do these normalised free cash flows fade in an arbitrary manner until the companys ROCE is equal to its WACC? What are the different ways and formulas for calculating EVA and MVA, and what are they useful for? What are the possible reasons behind a share buyback? What are the different methods that could be used? What are the Pros and Cons of off-market share buy-back? Key features: Questions and Answers, Glossary, concise case studies and examples A supporting Website http://www.vernimmen.com with free access to statistics, a glossary articles, notes on financial transactions, basic financial figures for more than 10,000 European and US listed companies, thesis topics, a bibliography; case studies A free monthly newsletter on Corporate Finance sent out to subscribers to the site.
Book Details:
- Author: Pascal Quiry
- ISBN: 9781119208228
- Year Published: 2011
- Pages: 516
- BISAC: BUS017000, BUSINESS & ECONOMICS/Corporate Finance / General
About the Book and Topic:
From the Vernimmen author team, this book draws on the invaluable content amassed by the vernimmen.com website and newsletters, and in the successful Vernimmen Corporate Finance book. In a useful question and answer format, the book addresses the most frequently asked questions in corporate finance, giving authoritative answers from this reputed team who work in investment banking, corporate finance and academia. This book covers the theory and practice of Corporate Finance showing how to use financial theory to solve practical problems. A useful reference for both students of corporate finance and practising corporate financiers, the book addresses key questions in financial engineering, valuation, financial policy, cost of capital, financial analysis and financial management. Questions answered include: What are the advantages of UCITS over direct investments, and how do they work? What advantages are there for a group in spinning off its divisions into subsidiaries? Can this be considered to be a defence against a takeover? Is there a formula that can be used to determine the change in normalised free cash flows or do these normalised free cash flows fade in an arbitrary manner until the companys ROCE is equal to its WACC? What are the different ways and formulas for calculating EVA and MVA, and what are they useful for? What are the possible reasons behind a share buyback? What are the different methods that could be used? What are the Pros and Cons of off-market share buy-back? Key features: Questions and Answers, Glossary, concise case studies and examples A supporting Website http://www.vernimmen.com with free access to statistics, a glossary articles, notes on financial transactions, basic financial figures for more than 10,000 European and US listed companies, thesis topics, a bibliography; case studies A free monthly newsletter on Corporate Finance sent out to subscribers to the site.
In most businesses, corporate finance focuses on raising money for various projects or ventures. For investment banks, corporate finance focuses on the analysis of corporate acquisitions and other decisions. The primary goal of corporate finance is to maximize corporate value while managing the firm’s financial risks. The discipline can be divided into long-term and short-term decisions and techniques. Capital investment decisions are long-term choices about which projects receive investment, whether to finance that investment with equity or debt, and when or whether to pay dividends to shareholders. On the other hand, the short term decisions can be grouped under the heading “Working capital management”. This subject deals with the short-term balance of current assets and current liabilities; the focus here is on managing cash, inventories, and short-term borrowing and lending (such as the terms on credit extended to customers). The terms corporate finance and corporate financier are also associated with investment banking. The typical role of an investment bank is to evaluate the company’s financial needs and raise the appropriate type of capital that best fits those needs.
VERNIMMEN.COM WEBSITE: includes: regular updating of statistics, graphs and charts; email questions to authors and receive answer in 72 hours; quizzes, case studies, articles, lecture notes, Q Computer models MONTHLY NEWSLETTER: emailed to subscribers. Includes coverage of: analysis of hot topics, summary of recent research papers in corporate finance, monthly statistics (price curves, tax rates in Europe) SUCCESSFUL BRAND: The Vernimmen Corporate Finance textbook has sold over 8000 units in 2 editions. The English-language Vernimmen.com website now has 6000 subscribers.
About the Author
Pierre Vernimmen (deceased) Graduate of HEC and Harvard, was a founding member and first coordinator of the Finance Department at HEC, where he established himself as a leading academic in the field of corporate finance. In 1973 he joined Paribas, initially as a private equity banker, moving onto the advisory business line (M&A, privatisations, financial restructurings) which he set up and managed from 1993 until his death in 1996. Maurizio Dallocchio (Italy) among the most renowned and influential Italian persons in the financial community. Past Dean of SDA Bocconi School of Management, and holder of the Lehman Brothers corporate finance chair in Bocconi University. Antonio Salvi teaches at the Bocconi Business School