Corporate financial management (Record no. 150919)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 15761nam a22002777a 4500 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | ZW-GwMSU |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20190625161018.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 190625b ||||| |||| 00| 0 eng d |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER | |
| International Standard Book Number | 9780273758839 |
| 040 ## - CATALOGING SOURCE | |
| Original cataloging agency | rda |
| Language of cataloging | English |
| Transcribing agency | MSU |
| 041 ## - | |
| -- | eng |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Arnold, Glen |
| Relator term | author |
| 245 ## - TITLE STATEMENT | |
| Title | Corporate financial management |
| Statement of responsibility, etc | Glen Arnold |
| 250 ## - EDITION STATEMENT | |
| Edition statement | Fifth |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | Harlow |
| Name of publisher, distributor, etc | Pearson |
| Date of publication, distribution, etc | 2013 |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 992 pages |
| 336 ## - CONTENT TYPE | |
| Source | rdacontent |
| content type term | text |
| 337 ## - MEDIA TYPE | |
| source | rdamedia |
| media type term | unmediated |
| media type code | n |
| 338 ## - CARRIER TYPE | |
| source | rdacarrier |
| carrier type term | volume |
| carrier type code | nc |
| 504 ## - BIBLIOGRAPHY, ETC. NOTE | |
| Bibliography, etc | Includes bibliographical references and index |
| 505 ## - FORMATTED CONTENTS NOTE | |
| Formatted contents note | Machine generated contents note: pt. 1 Introduction --<br/>1. The financial world --<br/>Learning outcomes --<br/>Introduction --<br/>The objective of the firm --<br/>Case study 1.1 Xstrata plc --<br/>Some possible objectives --<br/>Corporate governance --<br/>Primitive and modern economies --<br/>The role of the financial manager --<br/>The flow of funds and financial intermediation --<br/>Growth in the financial services sector --<br/>The financial system --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>pt. 2 The investment decision --<br/>2. Project appraisal: net present value and internal rate of return --<br/>Learning outcomes --<br/>Introduction --<br/>Value creation and corporate investment --<br/>Net present value and internal rate of return --<br/>Modified internal rate of return --<br/>Concluding comments --<br/>Key points and concepts --<br/>Appendix 2.1 Mathematical tools for finance --<br/>Mathematical tools exercises --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>3. Project appraisal: cash flow and applications --<br/>Learning outcomes --<br/>Introduction --<br/>Case study 3.1 Airbus's superjumbo --<br/>Quality of information --<br/>Are profit calculations useful for estimating project viability? --<br/>The replacement decision --<br/>Replacement cycles --<br/>When to introduce a new machine --<br/>Drawbacks of the annual equivalent annuity method --<br/>Timing of projects --<br/>The make or buy decision --<br/>Fluctuating output --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>4. The decision-making process for investment appraisal --<br/>Learning outcomes --<br/>Introduction --<br/>Evidence on the employment of appraisal techniques --<br/>Payback --<br/>Accounting rate of return --<br/>Internal rate of return: reasons for continued popularity --<br/>The managerial `art' of investment appraisal --<br/>The investment process --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>5. Project appraisal: capital rationing, taxation and inflation --<br/>Learning outcomes --<br/>Introduction --<br/>Capital rationing --<br/>Taxation and investment appraisal --<br/>Inflation --<br/>Case study 5.1 Eurotunnel's inflation allowance --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>pt. 3 Risk and return --<br/>6. Risk and project appraisal --<br/>Learning outcomes --<br/>Case study 6.1 Two risky ventures ... --<br/>Introduction --<br/>What is risk? --<br/>Adjusting for risk through the discount rate --<br/>Sensitivity analysis --<br/>Scenario analysis --<br/>Probability analysis --<br/>The risk of insolvency --<br/>Problems of using probability analysis --<br/>Evidence of risk analysis in practice --<br/>Real options (managerial options) --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>7. Portfolio theory --<br/>Learning outcomes --<br/>Introduction --<br/>Holding period returns --<br/>Expected return and standard deviation for shares --<br/>Combinations of investments --<br/>Portfolio expected return and standard deviation --<br/>Dominance and the efficient frontier --<br/>Indifference curves --<br/>Choosing the optimal portfolio --<br/>The boundaries of diversification --<br/>Extension to a large number of securities --<br/>Evidence on the benefits of diversification --<br/>The capital market line --<br/>Problems with portfolio theory --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>8. The Capital Asset Pricing Model and multi-factor models --<br/>Learning outcomes --<br/>Introduction --<br/>Some fundamental ideas and problems --<br/>A short history of shares, bonds and bills --<br/>The Capital Asset Pricing Model --<br/>Factor models --<br/>The arbitrage pricing theory --<br/>The three-factor model --<br/>Fundamental beta --<br/>Project appraisal and systematic risk --<br/>Sceptics' views --<br/>alternative perspectives on risk --<br/>Concluding comments --<br/>Key points and concepts --<br/>Appendix 8.1 Note on arithmetic and geometric means --<br/>Appendix 8.2 Why professors do or do not use CAPM-beta --<br/>References and further reading --<br/>Case study recommendations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>pt. 4 Sources of finance --<br/>9. Stock markets --<br/>Learning outcomes --<br/>Case study 9.1 Using the stock market both to create wealth and to treat disease --<br/>Introduction --<br/>Stock exchanges around the world --<br/>Globalisation of financial flows --<br/>Why do companies list their shares on more than one exchange? --<br/>The importance of a well-run stock exchange --<br/>The London Stock Exchange --<br/>The UK equity markets available to companies --<br/>Tasks for stock exchanges --<br/>How stock exchanges work --<br/>The ownership of UK shares --<br/>Regulation --<br/>Understanding the figures in the financial pages --<br/>Taxation and corporate finance --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Video presentations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>10. Raising equity capital --<br/>Learning outcomes --<br/>Case study 10.1 To float or not to float? --<br/>Introduction --<br/>What is equity capital? --<br/>Preference shares --<br/>Some unusual types of shares --<br/>Floating on the Main Market (Official List) --<br/>Methods of issue --<br/>Timetable for a new issue (initial public offering) --<br/>How does an AIM flotation differ from one on the Official List? --<br/>The costs of new issues --<br/>Rights issues --<br/>Other equity issues --<br/>Scrip issues --<br/>Warrants --<br/>Equity finance for unquoted firms --<br/>How independent private fund is established and managed --<br/>Disillusionment and dissatisfaction with quotation --<br/>Concluding comments --<br/>Key points and concepts --<br/>Appendix 10.1 Reasons for and against floating --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Video presentations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignment --<br/>11. Long-term debt finance --<br/>Learning outcomes --<br/>Introduction --<br/>Some fundamental features of debt finance --<br/>Bonds --<br/>Bank borrowing --<br/>Syndicated loans --<br/>Credit rating --<br/>Mezzanine finance and high-yield (junk) bonds --<br/>Case study 11.1 The junk bond wizard: Michael Milken --<br/>Convertible bonds --<br/>Valuing bonds --<br/>International sources of debt finance --<br/>Project finance --<br/>Sale and leaseback --<br/>Securitisation --<br/>Islamic banking --<br/>The term structure of interest rates --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Video presentations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>12. Short-term and medium-term finance --<br/>Learning outcomes --<br/>Introduction --<br/>Short- and medium-term bank finance --<br/>Trade credit --<br/>Factoring --<br/>Case study 11.1 Prestige pet products --<br/>Hire purchase --<br/>Leasing --<br/>Bills of exchange --<br/>Acceptance credits (bank bills or banker's acceptance) --<br/>Treasury management --<br/>Financing --<br/>Risk management --<br/>Working capital management --<br/>Investment of temporary surplus funds --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Video presentations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>13. Stock market efficiency --<br/>Learning outcomes --<br/>Introduction --<br/>What is meant by efficiency? --<br/>Random walks --<br/>The three levels of efficiency --<br/>Weak-form tests --<br/>Semi-strong form tests --<br/>Strong-form tests --<br/>Behavioural finance --<br/>Misconceptions about the efficient market hypothesis --<br/>Implications of the EMH for investors --<br/>Implications of the EMH for companies --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignment --<br/>pt. 5 Corporate value --<br/>14. Value-based management --<br/>Learning outcomes --<br/>Introduction --<br/>Case study 14.1 Compass group --<br/>The shareholder wealth-maximising goal --<br/>Three steps of value --<br/>Earnings-based management --<br/>Return on capital employed (ROCE) has failings --<br/>How a business creates value --<br/>An overview of the application of value principles --<br/>Strategic business unit management --<br/>Corporate strategy --<br/>Targets and motivation --<br/>Case study 14.4 Strategy, planning and budgeting at Lloyds TSB --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Video presentations --<br/>Case study recommendation --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignment --<br/>15. Value-creation metrics --<br/>Learning outcomes --<br/>Introduction --<br/>Using cash flow to measure value --<br/>Shareholder value analysis --<br/>Economic profit --<br/>Economic value added (EVA®) --<br/>Total shareholder return (TSR) --<br/>Wealth Added Index (WAI) --<br/>Market Value added (MVA) --<br/>Excess return (ER) --<br/>Market to book ratio (MBR). Note continued: Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Website --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>16. The cost of capital --<br/>Learning outcomes --<br/>Introduction --<br/>A word of warning --<br/>The required rate of return --<br/>The weighted average cost of capital (WACC) --<br/>The cost of equity capital --<br/>The cost of retained earnings --<br/>The cost of debt capital --<br/>The cost of preference share capital --<br/>Calculating the weights --<br/>Applying the WACC to projects and SBUs --<br/>Empirical evidence of corporate practice --<br/>How large is the equity risk premium --<br/>Some thoughts on the cost of capital --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Video presentations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignment --<br/>17. Valuing shares --<br/>Learning outcomes --<br/>Introduction --<br/>Case study 17.1 Amazon.com --<br/>Valuation using net asset value (NAV) --<br/>Valuation using income-flow methods --<br/>The dividend valuation models --<br/>The price-earnings ratio (PER) model --<br/>Valuation using cash flow --<br/>Valuation using owner earnings --<br/>EBITDA --<br/>Valuing unquoted shares --<br/>Unusual companies --<br/>Managerial control and valuation --<br/>Allowing for real option values --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>18. Capital structure --<br/>Learning outcomes --<br/>Introduction --<br/>Case study 18.1 The balance between debt and ordinary share capital --<br/>What do we mean by `gearing'? --<br/>The effect of gearing --<br/>The value of the firm and the cost of capital --<br/>Does the cost of capital (WACC) decrease with higher debt levels? --<br/>Modigliani and Miller's argument in a world with no taxes --<br/>The capital structure decision in a world with tax --<br/>Additional considerations --<br/>Some further thoughts on debt finance --<br/>Concluding comments --<br/>Key points and concepts --<br/>Appendix 18.1 Asset beta --<br/>Appendix 18.2 Adjusted present value (APV) --<br/>References and further reading --<br/>Case study recommendations --<br/>Video presentations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>19. Dividend policy --<br/>Learning outcomes --<br/>Introduction --<br/>Defining the problem --<br/>Miller and Modigliani's dividend irrelevancy proposition --<br/>Dividends as a residual --<br/>Clientele effects --<br/>Taxation --<br/>Dividends as conveyors of information --<br/>Resolution of uncertainty --<br/>Owner control (agency theory) --<br/>Scrip-dividends --<br/>Share buy-backs and special dividends --<br/>A round-up of the arguments' --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Video presentations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>20. Mergers --<br/>Learning outcomes --<br/>Introduction --<br/>The merger decision --<br/>Definitions and semantics --<br/>Merger statistics --<br/>Merger motives --<br/>Case study 20.1 Economies of scale in oil --<br/>Financing mergers --<br/>The merger process --<br/>The impact of mergers --<br/>Managing mergers --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Video presentations --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignment --<br/>pt. 6 Managing risk --<br/>21. Derivatives --<br/>Learning outcomes --<br/>Introduction --<br/>A long history --<br/>Options --<br/>Forwards --<br/>Futures --<br/>Forward rate agreements (FRAs) --<br/>A comparison of options, futures, forwards and FRAs --<br/>Caps --<br/>Swaps --<br/>Derivatives users --<br/>Over-the-counter (OTC) and exchange-traded derivatives --<br/>Concluding comments --<br/>Key points and concepts --<br/>Appendix 21.1 Option pricing --<br/>Appendix 21.2 The relationship between FRAs and swaps --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>22. Managing exchange-rate risk --<br/>Learning outcomes --<br/>Introduction --<br/>Case study 22.1 What a difference a few percentage point moves on the exchange rate make --<br/>The effects of exchange-rate changes --<br/>Volatility in foreign exchange --<br/>The foreign exchange markets --<br/>Exchange rates --<br/>Types of foreign-exchange risk --<br/>Transaction risk strategies --<br/>Managing translation risk --<br/>Managing economic risk --<br/>Exchange-rate determination --<br/>Concluding comments --<br/>Key points and concepts --<br/>References and further reading --<br/>Case study recommendations --<br/>Websites --<br/>Self-review questions --<br/>Questions and problems --<br/>Assignments --<br/>APPENDICES --<br/>I. Future value of £1 at compound interest --<br/>II. Present value of £1 at compound interest --<br/>III. Present value of an annuity of £1 at compound interest --<br/>IV. Future value of an annuity of £1 at compound interest --<br/>V. Areas under the standardised normal distribution --<br/>VI. Answers to the mathematical tools exercises in Chapter 2, Appendix 2. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | This title is supported by MyFinanceLab, an online homework and tutorial system which can be used by students for self-directed study or instructors can choose to fully integrate this eLearning technology into the delivery of their course. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Corporations |
| Form subdivision | Finance |
| General subdivision | Management. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Corporations |
| General subdivision | Finance |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Source of classification or shelving scheme | Library of Congress Classification |
| Koha item type | Book |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Home library | Current library | Shelving location | Date acquired | Source of acquisition | Cost, normal purchase price | Total Checkouts | Full call number | Barcode | Date last seen | Date checked out | Copy number | Price effective from | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Library of Congress Classification | Harare Campus Library | Harare Campus Library | Core Collection | 25/06/2019 | Mallory | 49.26 | 12 | HG4026 ARN | BK131655 | 03/05/2023 | 26/04/2023 | 146424 | 25/06/2019 | Core Collection | ||||
| Library of Congress Classification | PostGraduate Studies Library | PostGraduate Studies Library | Open Shelf | 25/06/2019 | Mallory | 49.26 | 1 | HG4026 ARN | BK131775 | 05/11/2019 | 04/11/2019 | 146423 | 25/06/2019 | Book | ||||
| Library of Congress Classification | PostGraduate Studies Library | PostGraduate Studies Library | Open Shelf | 25/06/2019 | Mallory | 49.26 | 4 | HG4026 ARN | BK131685 | 05/11/2019 | 04/11/2019 | 146422 | 25/06/2019 | Book |