Corporate Finance

Analysis for financial management by Robert Higgins

By Robert Higgins

Research for monetary administration, 9/e is a paperback textual content and has been written to offer typical concepts and glossy advancements in a pragmatic and intuitive demeanour. it really is meant for non-financial managers and enterprise scholars attracted to the perform of economic administration. Emphasis is at the managerial functions of monetary research.

Show description

Read Online or Download Analysis for financial management PDF

Best corporate finance books

Corporate Governance (2003)

Within the wake of the dramatic sequence of company meltdowns: Enron; Tyco; Adelphia; WorldCom; the well timed re-creation of this profitable textual content presents scholars and enterprise execs with a welcome replace of the foremost matters dealing with managers, forums of administrators, traders, and shareholders. as well as its authoritative evaluation of the historical past, the parable and the truth of company governance, this re-creation has been up-to-date to include:analysis of the most recent instances of company catastrophe; an summary of company governance guidance and codes of perform in constructing and rising markets new instances: Adelphia; Arthur Andersen; Tyco Laboratories; Worldcom; Gerstner's pay packet at IBMOnce back within the re-creation in their textbook, Robert A.

The Capital Structure Decision

In 1958 a tutorial paper on company finance written by means of professors (Merton Miller and Frances Modigliani, who have been later provided the Nobel prize for his or her examine efforts) used to be released within the American monetary evaluate. One major end in their paper was once that the precise kind of a firm's capital constitution didn't impact the firm's price.

Essentials of Working Capital Management

A accomplished primer for executives and bosses on operating capital administration With constrained entry to credits and brief time period investment, it truly is more and more vital that businesses concentrate on operating capital administration to liberate money and optimize liqidity. Written within the easy-to-follow necessities sequence type, necessities of operating Capital administration covers the most elements of operating capital.

Mastering Interest Rate Risk Strategy: A Practical Guide to Managing Corporate Financial Risk

Monetary associations, inner most and public businesses and governments can lose huge quantities of cash from even minor alterations in rates of interest. due to this, complicated monetary tools were constructed to mitigate those exposures. yet what occurs while companies hedge themselves to ill-advised and ill-formulated monetary administration recommendations?

Additional info for Analysis for financial management

Example text

9/In order − 1 = very important; 2 = of moderate importance; 3 = unimportant: 1-2-2-3, because they are more easily traded. 10/Risk. 11/No, far fewer securities are issued on the primary market than exchanged on the secondary market. In 2007, worldwide, listed companies issued USD 902 bn worth of new shares, whereas the value of shares exchanged was USD 101,189 bn (source: World Exchange Federations). 12/Returns, the two are inextricably linked. 13/Shares, as returns are not guaranteed for the investor, and creditors are paid out before shareholders.

Financially, capital expenditures are worthwhile only if inflows generated thanks to these expenditures exceed the required outflows by an amount yielding at least the return on investment expected by the investor. 21 22 FUNDAMENTAL CONCEPTS IN FINANCIAL ANALYSIS Note also that a company may sell some assets in which it has invested in the past. For instance, our greengrocer may decide after several years to trade in his freezer for a larger model. The proceeds would also be part of the investment cycle.

4 MOST IMPORTANTLY, HE IS A NEGOTIATOR . . Let’s return to our financial manager who has just created a financial security. Because the security is traded on a secondary market, he doesn’t know who holds the securities. Nor does he know who has sold it, especially as, via the futures market, investors can sell the security without ever having bought it. But what exactly is our financial manager selling? Or put another way: how can the value of the financial security be determined? From a practical standpoint, the financial manager “sells” management’s reputation for integrity, its expertise, the quality of the company’s assets, its overall financial health, its ability to generate a certain level of profitability over a given period and its commitment to more or less restrictive legal terms.

Download PDF sample

Rated 4.01 of 5 – based on 25 votes