Table Of Contents
Preface.
Foreword.
Symbols.
1 What is corporate finance?
Section One Financial analysis.
Part 1 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 2 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 Two Investment analysis.
15 The financial markets.
Part 1 Investment decision rules.
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 2 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 Three Corporate financial policies.
Part 1 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 2 Value and capital structure policy.
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 3 Equity capital and dividend policies.
37 Internal financing: reinvesting cash flow.
38 Returning value to shareholders: dividend policies.
39 Capital increases.
Section Four Financial management.
Part 1 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 2 Managing net borrowings and financial risks.
46 Managing the company’s cash flows.
47 Off-balance sheet financing.
48 Managing financial risks.
Appendices.
Glossary.
Index.
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Keywords
acquisition finance
bankruptcy
bonds
capital employed
capital increases
capital structure
cash flows
consolidated accounts
corporate finance
debt equity options
earnings and cashflow
financial accounts
financial analysis
financial forecasting
financial markets
financial reporting
internal rate of return
investment decision
IRR
margin analysis
merger finance
restructuring
risk and investment
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