Lessons in corporate finance : a case studies approach to financial tools, financial policies, and valuation / Paul Asquith and Lawrence A. Weiss.

Format:

Book

Author/Creator:

Weiss, Lawrence A. (Lawrence Alan), author.

Series:

Wiley finance series.

Wiley finance

Language:

English

Subjects (All):

Corporations--Finance.

Corporations.

Valuation.

Corporations--Finance--Case studies.

Evaluation.

Physical Description:

1 online resource (547 pages).

Edition:

Second edition.

Place of Publication:

Hoboken, New Jersey : John Wiley & Sons, Inc., [2019]

Summary:

An intuitive introduction to fundamental corporate finance concepts and methods Lessons in Corporate Finance, Second Edition offers a comprehensive introduction to the subject, using a unique interactive question and answer-based approach. Asking a series of increasingly difficult questions, this text provides both conceptual insight and specific numerical examples. Detailed case studies encourage class discussion and provide real-world context for financial concepts. The book provides a thorough coverage of corporate finance including ratio and pro forma analysis, capital structure theory, investment and financial policy decisions, and valuation and cash flows provides a solid foundational knowledge of essential topics. This revised and updated second edition includes new coverage of the U.S. Tax Cuts and Jobs Act of 2017 and its implications for corporate finance valuation. Written by acclaimed professors from MIT and Tufts University, this innovative text integrates academic research with practical application to provide an in-depth learning experience. Chapter summaries and appendices increase student comprehension. Material is presented from the perspective of real-world chief financial officers making decisions about how firms obtain and allocate capital, including how to: Manage cash flow and make good investment and financing decisions Understand the five essential valuation methods and their sub-families Execute leveraged buyouts, private equity financing, and mergers and acquisitions Apply basic corporate finance tools, techniques, and policies Lessons in Corporate Finance , Second Edition provides an accessible and engaging introduction to the basic methods and principles of corporate finance. From determining a firm's financial health to valuation nuances, this text provides the essential groundwork for independent investigation and advanced study.

Contents:

Cover; Title Page; Copyright; Contents; About the Authors; Acknowledgments; Preface; Chapter 1 Introduction; Two Markets: Product and Capital; The Basics: Tools and Techniques; A Diagram of Corporate Finance; A Brief History of Modern Finance; Reading This Book; Part One Financial Health of a Firm and Cash Flow Management; Chapter 2 Determining a Firm's Financial Health (PIPES-A); The Conversation with the Banker Is Like a Job Interview; Starting with the Product Market Strategy; Is PIPES Profitable?; Doing the Math; Sources and Uses of Funds; Ratio Analysis; The Cash Cycle; Summary

Chapter 3 Pro Forma Forecasts (PIPES-B)First, Let's Take a Closer Look at Ratio Analysis; Pro Forma Forecasts; Circular Relationships; Back to (Forecasting) the Future; Projecting Out to 2018 and 2019; Evaluating the Loan; Summary; Appendix 3A: Accounting Is Not Economic Reality; Chapter 4 The Impact of Seasonality on a Firm's Funding (PIPES-C); Monthly Pro Forma Income Statements; Monthly Pro Forma Balance Sheets; A Different Picture of the Firm; Summary; Appendix 4A: PIPES Monthly Pro Forma Income Statements and Balance Sheets, 2018

Appendix 4B: PIPES Monthly Pro Forma Income Statements and Balance Sheets, 2019Part Two Firm Financing and Financial Policies; Chapter 5 Why Financing Matters (Massey Ferguson); Product Market Position and Strategy; Political Risk and Economies of Scale in Production; Massey Ferguson, 1971-1976; Sustainable Growth; The Period after 1976; Conrad Runs Away; The Competitors; Back to Massey; Massey's Restructuring; Postscript: What Happened to Massey; Summary; Appendix 5A: Massey Ferguson Financial Statements; Chapter 6 An Introduction to Capital Structure Theory; Optimal Capital Structure

M & M and Corporate FinanceTaxes; Costs of Financial Distress; The Textbook View of Capital Structure; The Cost of Capital; Summary; Chapter 7 Capital Structure Decisions (Marriott Corporation and Gary Wilson); Capital Structure; The Cost of Capital; How Firms Set Capital Structure in Practice; Corporate Financial Policies; Sustainable Growth and Excess Cash Flow; What to Do with Excess Cash?; Summary; Appendix 7A: Marriott Corporation Income Statements and Balance Sheets; Appendix 7B: Marriott Corporation Selected Ratios; Chapter 8 Investment Decisions (Marriott Corporation and Gary Wilson)

What Is the Correct Price?How Should Marriott Buy Its Shares?; The Loan Covenants; The Impact of the Product Market on Financial Policies; The Capital Market Impact and the Future; Summary; Chapter 9 Financial Policy Decisions (AT & T: Before and After the 1984 Divestiture); Background on AT M & M and the Practice of Corporate Finance; Old (pre-1984) AT New (post-1984) AT Summary; Appendix 9A: Development of AT & T Pro Formas, 1984-1988 (Expected-Case); Chapter 10 The Impact of Operating Strategy on Corporate Finance Policy (MCI); A Brief Summary; A Brief History of MCI

Notes:

Includes index.

Description based on print version record.

ISBN:

1-119-53789-4

1-119-53793-2

OCLC:

1096280470