By Denzil Watson, Antony Head
This quantity addresses the center subject parts in company finance and establishes an built-in knowing of the 3 choice components in finance - funding, financing, and the dividend decision.
content material: Preface and guided travel of the booklet 1 The finance functionality 2 Capital markets, marketplace potency and ratio research three brief time period finance: the administration of operating capital administration four long-term finance: fairness finance five long-term finance: debt finance, hybrid finance and leasing 6 an summary of funding appraisal tools 7 funding appraisal: purposes and possibility eight Portfolio idea and the capital asset pricing version nine the price of capital and capital constitution 10 Dividend coverage eleven Mergers and takeovers 12 chance administration thirteen overseas funding judgements thesaurus Appindix: solutions to end-of-chapter questions Index
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Extra resources for Corporate finance : principles & practice
And Finnerty, J. (2004) Corporate Financial Management, Harlow: FT Prentice Hall, chapter 9. Important and informative papers and articles recommended for further reading include: Andrews, G. ,’ Managerial Finance, Vol. 8, pp. 1–4. Barfield, R. (1995) ‘Shareholder value in practice,’ The Treasurer, January, pp. 31–4. Charkham, J. (1993) ‘The Bank and corporate governance: past, present and future’, Bank of England Quarterly Bulletin, August, pp. 388–92. Fama, E. (1980) ‘Agency problems and the theory of the firm,’ Journal of the Political Economy, Vol.
Forbes, W. and Watson, R. (1993) ‘Managerial remuneration and corporate governance: a review of the issues, evidence and Cadbury Committee proposals’, Journal of Accounting and Business Research: Corporate Governance Special Issue. Friedman, M. (1970) ‘The social responsibility of business is to increase its profits’, New York Magazine, 30 September. Greenbury, R. (1995) Directors’ Remuneration: Report of a Study Group chaired by Sir Richard Greenbury, London: Gee & Co. Hampel Committee (1998) Final Report, January.
Most companies will therefore need at some stage to consider external sources of finance if they need to raise funds for investment projects or to expand operating activities. The decision concerning the relative proportions of internal and external finance to be used for a capital investment project will depend on a number of factors. The level of finance required It may be possible for a company to finance small investments from retained earnings, for example refurbishing existing fixed assets or undertaking minor new investment projects.
Corporate finance : principles & practice by Denzil Watson, Antony Head