Short description
Presents guidance to how corporate finance can be used to add value to a business. Explaining the elements of a financial strategy, this book shows how these can be tailored to suit the needs of an organisation and complement its business strategy.
Long description
Corporate Financial Strategy presents a practical guide to how corporate finance can be used to add value to a business. Explaining the elements of a financial strategy, it shows how these can be tailored to suit the needs of an organisation and complement its business strategy. The third edition of this bestselling textbook brings together the extensive commercial and academic experience of Dr Bender and Professor Ward. Including an abundance of diagrams and examples, the book explains the business and financial issues which underlie the investment cases and business plans used in making strategic decisions and in raising finance from lenders and investors. This book is an essential read for all those involved in designing and implementing corporate and financial strategy: What financial instruments should be used at each stage of the company's lifecycle, and why? Is there any benefit to floating the company, and how do we go about it? What are the pitfalls and practicalities in making and financing an acquisition? How does the world of private equity work? Does corporate governance have any impact on financial strategy? What should be done if the company starts to fail?
Review
*This book makes corporate finance interesting and stimulating in a language easily digestible, and is a reminder of the practical side of Corporate Finance. As a student I found the book to be the perfect balance of practicality and academia and it remains my first resource in my professional work. James Masacorale, Acquisitions Development Manager, Wolseley UK *The authors have combined academic analysis, theoretical excellence, in depth practical knowledge and an outright passion and enthusiasm for corporate financial strategy to produce a very user friendly, readable book. I thoroughly enjoyed reading this latest edition and recommend it strongly to both academics and practitioners alike. Chris Pierce, CEO, Global Governance Services Ltd.
Table of contents
- Setting the context
- What does the share price tell us?
- Linking corporate and financial strategies
- Corporate governance and perceived risk
- Making the case
- Financial strategy and the corporate lifecycle-Start up businesses and venture capital
- rowth companies: marketing focused
- Mature companies-to divi or not?
- Declining businesses-a case for euthanasia?
- Financial instruments: the building blocks
- Types of financial instrument
- Dividends and buybacks
- Transactions and operating issues-Floating a company
- Acquisitions
- mergers and selling a business
- Restructuring a company
- Management buyouts and other leveraged transactions
- Strategic working capital management
- Executive compensation
- International corporate finance
- Appendices-Review of theories of finance
- Valuing options and convertibles
- Glossary
- Discount and option tables.