This popular text takes a practical approach to corporate finance, applying key concepts and techniques to a broad range of contemporary issues in finance. Examining financial issues from a managerial stand point, the authors demonstrate the role finance has to play in explaining and shaping business development rather than concentrating on quantitative aspects.
This book is suitable for second and third year undergraduate students of business studies, accounting, finance and economics. It is particularly valuable for those studying an MBA or MSc in Business.Recommended by professional bodies such as CIMA and ACCA.
Richard Pike is a Chartered Accountant and Professor of Finance at the Bradford University School of Management.
Bill Neale is Associate Reader in Financial Management at the University of Bournemouth Institute of Business & Law.
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List of tables
PART 1 A FRAMEWORK FOR FINANCIAL DECISIONS
1 An overview of financial decisions
2 The financial environment
3 Present Value, bond and share valuation
PART 2 INVESTMENT DECISIONS AND STRATEGIES
4 Investment appraisal methods
5 Project appraisal applications
6 Investment strategy and process
PART 3 VALUE, RISK AND THE REQUIRED RETURN
7 Analysing investment risk
8 Identifying and valuing options
9 Relationships between investments: portfolio theory
10 Setting The Risk Premium: The Capital Asset Pricing Model
11 The required rate of return on investment
12 Enterprise value and equity value
PART 4 SHORT-TERM FINANCING AND POLICIES
13 Treasury management and working capital policy
14 Short-term asset management
15 Short - and medium-term finance
PART 5 STRATEGIC FINANCIAL DECISIONS
16 Long-term finance
17 Returning value to shareholders: the dividend decision
18 Capital structure and the required return
19 Does capital structure really matter?
20 Acquisitions and restructuring
PART 6 INTERNATIONAL FINANCIAL MANAGEMENT
21 Managing currency risk
22 Foreign investment decisions
23 Review and frontiers of finance
Appendix A Solutions to self-assessment activities
Appendix B Solutions to selected questions
Appendix C Present value interest factor (PVIF)
Appendix D Present value interest factor for an annuity (PVIFA)