An Introduction to Corporate Finance

Subtitle:: Transactions and Techniques
Author:: Ross Geddes
Format:: Softcover

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Now:	R302.95
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United States of America

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Short description

Provides the reader with an overview of Corporate Finance from perspective of the investment Banker. This book clarifies the role of the investment banker in numerous corporate finance transactions, including mergers & acquisitions, IPO's, and valuation.

Long description

An Introduction to Corporate Finance provides the reader with a complete overview of Corporate Finance from perspective of the investment Banker. The author, a corporate trainer and former investment banker clarifies the role of the investment banker in numerous corporate finance transactions, including mergers & acquisitions, IPO's, and valuation. Given today's corporate climate, every student studying corporate finance and those working in the field need this book to sharpen their skill set.

Product details

Publisher:: John Wiley & Sons
ISBN:: 9780470026755
Publication date:: July 2008
Length:: 155mm
Width:: 225mm
Thickness:: 19mm
Weight:: 367g
Edition:: 2nd Edition
Pages:: 232
Illustrations:: Illustrated
Readership:: Research & professional
Illustrated:: Illustrated

About the author.1. 'BEHIND THE CHINESE WALL'.Corporate finance in investment banking.Chinese walls.Corporate finance assignments.Flotations/IPOs.Mergers, acquisitions and divestitures.Leveraged buyouts and management buyouts.Financial advice.Careers in corporate finance.Organisation of this book.Part I: CORPORATE FINANCE TRANSACTIONS.2. SOURCES OF CAPITAL.Debt securities.Money market securities.Long-term debt.Floating rate notes.Equity.Preference shares.Ordinary shares.Hybrids (convertible securities).3. FLOTATIONS/INITIAL PUBLIC OFFERINGS.Primary offerings.Ancillary benefits of flotation.Disadvantages of flotation.Methods of flotation.Suitability for listing.The offering process.Participants and roles.Documentation and regulation.Due diligence and verification.Marketing, syndication and pricing.Underwriting.4. INTERNATIONAL EQUITY OFFERINGS.Rationale for international offerings.International investors.Development of international equity offerings.Regulation and documentation.Depository receipts.Marketing, syndication and distribution.Offer structure.Price setting, underwriting and bookbuilding.Fees and commissions.After the new issue.Stabilisation.5. RIGHTS ISSUES/SECONDARY OFFERINGS.Pre-emption rights.Setting the price.Calculating the theoretical rights price.Rights issue timetable.Fees and commissions.Secondary offerings.Marketed offerings.Bought deals.Accelerated bookbuilding.Demergers.6. MERGERS AND ACQUISITIONS.Rationale for M&
A.Types of merger.Merger waves.Financing the transaction.Bootstrap transactions.Regulation of M&
As.Key elements of the City Code.7. MANAGEMENT BUYOUTS.Financial structure.Bank finance (secured lending).Private equity funds.Mezzanine finance.High-yield bonds.Part II: CORPORATE FINANCE TECHNIQUES.8. VALUING SECURITIES.Valuing bonds.Valuing shares and companies.Cash flow based valuations.Determination of terminal/residual value.Determining the discount rate.Determining the value of the business.Relative valuations.Price earnings ratio.Price/EBIT multiple.Market to book value.Dividend yield.Enterprise value to EBITDA.Determining the value of a business based on ratios/multiples.9. DETERMINING THE COST OF CAPITAL.Weighted average cost of capital.Use market values.Use target/optimal weighting.After tax.Match nominal rates with nominal cash flows.Cost of debt: Kd.Cost of equity: Ke.Capital asset pricing model.Risk-free rate.Market risk premium (equity risk premium).Beta (s).Health warning.10. SHAREHOLDER VALUE ADDED (ECONOMIC PROFIT).Just another number?Benefits of SVA.Calculation of SVA.Limitations of economic profit calculations.Appendix: UK CORPORATE VALUATION METHODS: A SURVEY.Scoring and tables.A.1 Valuation methodology.A.1.1 Frequency of use.A.1.2 Calculation of final valuation or value range.A.2 Discounted cash flows.A.2.1 DCF approaches.A.2.2 Forecast period.A.2.3 Terminal value.A.3 Cost of capital.A.3.1 Determining the cost of equity.A.3.2 Capital asset pricing model.Sources of information.Glossary.List of abbreviations.Additional reading.Index.