Corporate Finance: Economic Foundations and Financial Modeling
Gespeichert in:
| Körperschaft: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Newark
John Wiley & Sons, Incorporated
2022
|
| Ausgabe: | 3rd ed |
| Schriftenreihe: | CFA Institute Investment Ser
|
| Schlagworte: | |
| Online-Zugang: | DE-2070s |
| Beschreibung: | 1 Online-Ressource (1045 Seiten) |
| ISBN: | 9781119743774 9781119743767 |
Internformat
MARC
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| 505 | 8 | |a Intro -- Title Page -- Copyright -- Foreword -- Acknowledgments -- About the CFA Institute Investment Series -- CHAPTER 1 Corporate Structures and Ownership -- Learning Outcomes -- 1. Introduction -- 2. Business Structures -- 2.1. Sole Proprietorship (Sole Trader) -- 2.2. General Partnership -- 2.3. Limited Partnership -- 2.4. Corporation (Limited Companies) -- 3. Public and Private Corporations -- 3.1. Exchange Listing and Share Ownership Transfer -- 3.2. Share Issuance -- 3.3. Going Public from Private-IPO, Direct Listing, Acquisition -- 3.4. Life Cycle of Corporations -- 4. Lenders and Owners -- 4.1. Equity and Debt Risk-Return Profiles -- 4.2. Equity vs. Debt Conflicts of Interest -- 5. Summary -- 6. Practice Problems -- CHAPTER 2 Introduction to Corporate Governance and Other ESG Considerations -- Learning Outcomes -- 1. Introduction -- 2. Stakeholder Groups -- 2.1. Shareholder vs. Stakeholder Theory -- 2.2. Shareholders -- 2.3. Creditors/Debtholders -- 2.4. Board of Directors -- 2.5. Managers -- 2.6. Employees -- 2.7. Customers -- 2.8. Suppliers -- 2.9. Governments -- 3. Principal-Agent and Other Relationships -- 3.1. Shareholder and Manager/Director Relationships -- 3.2. Controlling and Minority Shareholder Relationships -- 3.3. Manager and Board Relationships -- 3.4. Shareholder vs. Creditor (Debtholder) Interests -- 4. Corporate Governance and Mechanisms to Manage Stakeholder Risks -- 4.1. Shareholder Mechanisms -- 4.2. Creditor Mechanisms -- 4.3. Board of Director and Management Mechanisms -- 4.4. Employee Mechanisms -- 4.5. Customer and Supplier Mechanisms -- 4.6. Government Mechanisms -- 5. Corporate Governance and Stakeholder Management Risks and Benefits -- 5.1. Operational Risks and Benefits -- 5.2. Legal, Regulatory, or Reputational Risks and Benefits -- 5.3. Financial Risks and Benefits | |
| 505 | 8 | |a 6. ESG Considerations in Investment Analysis -- 6.1. Introduction to Environmental and Social Factors -- 6.2. Evaluating ESG-Related Risks and Opportunities -- 7. Environmental, Social, and Governance Investment Approaches -- 7.1. ESG Investment Approaches -- 7.2. ESG Market Overview -- 8. Summary -- 9. Practice Problems -- CHAPTER 3 Working Capital & -- Liquidity -- Learning Outcomes -- 1. Introduction -- 2. Financing Options -- 2.1. Internal Financing -- 2.2. External Financing: Financial Intermediaries -- 2.3. External Financing: Capital Markets -- 3. Working Capital, Liquidity, and Short-Term Funding Needs -- 4. Liquidity and Short-Term Funding -- 4.1. Primary Sources of Liquidity -- 4.2. Secondary Sources of Liquidity -- 4.3. Drags and Pulls on Liquidity -- 5. Measuring Liquidity -- 6. Evaluating Short-Term Financing Choices -- 7. Summary -- 8. Practice Problems -- CHAPTER 4 Capital Investments -- Learning Outcomes -- 1. Introduction -- 2. Types of Capital Investments -- 2.1. Business Maintenance -- 2.2. Business Growth -- 3. The Capital Allocation Process -- 4. Investment Decision Criteria -- 4.1. Net Present Value -- 4.2. Internal Rate of Return -- 5. Common Capital Allocation Pitfalls -- 6. Corporate Use of Capital Allocation -- 7. Real Options -- 7.1. Timing Options -- 7.2. Sizing Options -- 7.3. Flexibility Options -- 7.4. Fundamental Options -- 8. Summary -- 9. Practice Problems -- CHAPTER 5 Capital Structure -- Learning Outcomes -- 1. Introduction -- 2. Factors Affecting Capital Structure -- 2.1. Internal Factors Affecting Capital Structure -- 2.2. Existing Leverage -- 2.3. External Factors Affecting Capital Structure -- 3. Capital Structure and Company Life Cycle -- 3.1. Background -- 3.2. Start-Ups -- 3.3. Growth Businesses -- 3.4. Mature Businesses -- 3.5. Unique Situations -- 4. Modigliani-Miller Propositions | |
| 505 | 8 | |a 4.1. MM Proposition I without Taxes: Capital Structure Irrelevance -- 4.2. MM Proposition II without Taxes: Higher Financial Leverage Raises the Cost of Equity -- 4.3. MM Propositions with Taxes: Firm Value -- 4.4. MM Propositions with Taxes: Cost of Capital -- 4.5. Costs of Financial Distress -- 5. Optimal and Target Capital Structures -- 5.1. Market Value vs. Book Value -- 5.2. Target Weights and WACC -- 5.3. Pecking Order Theory and Agency Costs -- 6. Stakeholder Interests -- 6.1. Debt vs. Equity Conflict -- 6.2. Preferred Shareholders -- 6.3. Management and Directors -- 7. Summary -- 8. Practice Problems -- CHAPTER 6 Measures of Leverage -- Learning Outcomes -- 1. Introduction -- 2. Leverage -- 3. Business and Sales Risks -- 3.1. Business Risk and Its Components -- 3.2. Sales Risk -- 4. Operating Risk and the Degree of Operating Leverage -- 5. Financial Risk, the Degree of Financial Leverage and the Leveraging Role of Debt -- 6. Total Leverage and the Degree of Total Leverage -- 7. Breakeven Points and Operating Breakeven Points -- 8. The Risks of Creditors and Owners -- 9. Summary -- 10. Practice Problems -- CHAPTER 7 Cost of Capital: Foundational Topics -- Learning Outcomes -- 1. Introduction -- 2. Cost of Capital -- 2.1. Taxes and the Cost of Capital -- 3. Costs of the Various Sources of Capital -- 3.1. Cost of Debt -- 3.2. Cost of Preferred Stock -- 3.3. Cost of Common Equity -- 4. Estimating Beta -- 4.1. Estimating Beta for Public Companies -- 4.2. Estimating Beta for Thinly Traded and Nonpublic Companies -- 5. Flotation Costs -- 6. Methods in Use -- 7. Summary -- 8. Practice Problems -- CHAPTER 8 Cost of Capital: Advanced Topics -- Learning Outcomes -- 1. Introduction -- 2. Cost of Capital Factors -- 2.1. Top-Down External Factors -- 2.2. Bottom-Up Company-Specific Factors -- 2.3. Cost of Capital Factors Summary | |
| 505 | 8 | |a 3. Estimating the Cost of Debt -- 3.1. Traded Debt -- 3.2. Non-Traded Debt -- 3.3. Bank Debt -- 3.4. Leases -- 3.5. International Considerations -- 4. The ERP -- 4.1. Historical Approach -- 4.2. Forward-Looking Approach -- 5. The Cost of Equity (Required Return on Equity) -- 5.1. DDMs -- 5.2. Bond Yield Plus Risk Premium Approach -- 5.3. Risk-Based Models -- 5.4. Estimating the Cost of Equity for Private Companies -- 5.5. International Considerations -- 5.6. Required Return on Equity Summary -- 6. Mini-Case 1 -- 6.1. Gretna Engines -- 7. Mini-Case 2 -- 7.1. Precision Irrigation -- 8. Practice Problems -- CHAPTER 9 Analysis of Dividends and Share Repurchases -- Learning Outcomes -- 1. Dividends: Forms and Effects on Shareholder Wealth and Financial Ratios -- 1.1. Dividends: Forms and Effects on Shareholder Wealth and Issuing Company's Financial Ratios -- 2. Dividend Policy and Company Value: Theories -- 2.1. Dividend Policy Does Not Matter -- 2.2. Dividend Policy Matters: The Bird in the Hand Argument -- 2.3. Dividend Policy Matters: The Tax Argument -- 3. Other Theoretical Issues: Signaling -- 3.1. The Information Content of Dividend Actions: Signaling -- 3.2. Agency Costs and Dividends as a Mechanism to Control Them -- 4. Other Theoretical Issues: Summary -- 5. Factors Affecting Dividend Policy in Practice -- 5.1. Investment Opportunities -- 5.2. The Expected Volatility of Future Earnings -- 5.3. Financial Flexibility -- 5.4. Tax Considerations -- 5.5. Flotation Costs -- 5.6. Contractual and Legal Restrictions -- 5.7. Factors Affecting Dividend Policy: Summary -- 6. Payout Policies -- 6.1. Stable Dividend Policy -- 6.2. Constant Dividend Payout Ratio Policy -- 6.3. Global Trends in Payout Policy -- 7. Share Repurchases -- 7.1. Share Repurchase Methods -- 7.2. Financial Statement Effects of Repurchases | |
| 505 | 8 | |a 8. Valuation Equivalence of Cash Dividends and Share Repurchase -- 9. The Dividend versus Share Repurchase Decision -- 10. Analysis of Dividend Safety -- 11. Summary -- 12. Practice Problems -- CHAPTER 10 Business Models & -- Risks -- Learning Outcomes -- 1. Introductory Context/Motivation -- 2. What Is a Business Model? -- 2.1. Business Model Features -- 2.2. Customers, Market: Who -- 2.3. Firm Offering: What -- 2.4. Channels: Where -- 2.5. Pricing: How Much -- 2.6. Value Proposition (Who + What + Where + How Much) -- 2.7. Business Organization, Capabilities: How -- 2.8. Profitability and Unit Economics -- 3. Business Model Types -- 3.1. Business Model Innovation -- 3.2. Business Model Variations -- 3.3. E-Commerce Business Models -- 3.4. Network Effects and Platform Business Models -- 3.5. Crowdsourcing Business Models -- 3.6. Hybrid Business Models -- 4. Business Models: Financial Implications -- 4.1. External Factors -- 4.2. Firm-Specific Factors -- 5. Business Risks -- 5.1. Summary -- 6. Macro Risk, Business Risk, and Financial Risk -- 6.1. Risk Impacts Are Cumulative -- 7. Business Risk: A Closer Look -- 7.1. Industry Risks -- 7.2. Industry Definition -- 7.3. Company-Specific Risks -- 8. Financial Risk -- 8.1. Measuring Operating and Financial Leverage -- 9. Summary -- 10. Practice Problems -- CHAPTER 11 The Firm and Market Structures -- Learning Outcomes -- 1. Analysis of Market Structures -- 1.1. Analysis of Market Structures -- 2. Perfect Competition -- 2.1. Demand Analysis in Perfectly Competitive Markets -- 3. Elasticity of Demand -- 4. Other Factors Affecting Demand -- 5. Consumer Surplus: Value Minus Expenditure -- 6. Supply Analysis, Optimal Price, and Output in Perfectly Competitive Markets -- 6.1. Optimal Price and Output in Perfectly Competitive Markets -- 7. Long-Run Equilibrium In Perfectly Competitive Markets | |
| 505 | 8 | |a 8. Monopolistic Competition | |
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| contents | Intro -- Title Page -- Copyright -- Foreword -- Acknowledgments -- About the CFA Institute Investment Series -- CHAPTER 1 Corporate Structures and Ownership -- Learning Outcomes -- 1. Introduction -- 2. Business Structures -- 2.1. Sole Proprietorship (Sole Trader) -- 2.2. General Partnership -- 2.3. Limited Partnership -- 2.4. Corporation (Limited Companies) -- 3. Public and Private Corporations -- 3.1. Exchange Listing and Share Ownership Transfer -- 3.2. Share Issuance -- 3.3. Going Public from Private-IPO, Direct Listing, Acquisition -- 3.4. Life Cycle of Corporations -- 4. Lenders and Owners -- 4.1. Equity and Debt Risk-Return Profiles -- 4.2. Equity vs. Debt Conflicts of Interest -- 5. Summary -- 6. Practice Problems -- CHAPTER 2 Introduction to Corporate Governance and Other ESG Considerations -- Learning Outcomes -- 1. Introduction -- 2. Stakeholder Groups -- 2.1. Shareholder vs. Stakeholder Theory -- 2.2. Shareholders -- 2.3. Creditors/Debtholders -- 2.4. Board of Directors -- 2.5. Managers -- 2.6. Employees -- 2.7. Customers -- 2.8. Suppliers -- 2.9. Governments -- 3. Principal-Agent and Other Relationships -- 3.1. Shareholder and Manager/Director Relationships -- 3.2. Controlling and Minority Shareholder Relationships -- 3.3. Manager and Board Relationships -- 3.4. Shareholder vs. Creditor (Debtholder) Interests -- 4. Corporate Governance and Mechanisms to Manage Stakeholder Risks -- 4.1. Shareholder Mechanisms -- 4.2. Creditor Mechanisms -- 4.3. Board of Director and Management Mechanisms -- 4.4. Employee Mechanisms -- 4.5. Customer and Supplier Mechanisms -- 4.6. Government Mechanisms -- 5. Corporate Governance and Stakeholder Management Risks and Benefits -- 5.1. Operational Risks and Benefits -- 5.2. Legal, Regulatory, or Reputational Risks and Benefits -- 5.3. Financial Risks and Benefits 6. ESG Considerations in Investment Analysis -- 6.1. Introduction to Environmental and Social Factors -- 6.2. Evaluating ESG-Related Risks and Opportunities -- 7. Environmental, Social, and Governance Investment Approaches -- 7.1. ESG Investment Approaches -- 7.2. ESG Market Overview -- 8. Summary -- 9. Practice Problems -- CHAPTER 3 Working Capital & -- Liquidity -- Learning Outcomes -- 1. Introduction -- 2. Financing Options -- 2.1. Internal Financing -- 2.2. External Financing: Financial Intermediaries -- 2.3. External Financing: Capital Markets -- 3. Working Capital, Liquidity, and Short-Term Funding Needs -- 4. Liquidity and Short-Term Funding -- 4.1. Primary Sources of Liquidity -- 4.2. Secondary Sources of Liquidity -- 4.3. Drags and Pulls on Liquidity -- 5. Measuring Liquidity -- 6. Evaluating Short-Term Financing Choices -- 7. Summary -- 8. Practice Problems -- CHAPTER 4 Capital Investments -- Learning Outcomes -- 1. Introduction -- 2. Types of Capital Investments -- 2.1. Business Maintenance -- 2.2. Business Growth -- 3. The Capital Allocation Process -- 4. Investment Decision Criteria -- 4.1. Net Present Value -- 4.2. Internal Rate of Return -- 5. Common Capital Allocation Pitfalls -- 6. Corporate Use of Capital Allocation -- 7. Real Options -- 7.1. Timing Options -- 7.2. Sizing Options -- 7.3. Flexibility Options -- 7.4. Fundamental Options -- 8. Summary -- 9. Practice Problems -- CHAPTER 5 Capital Structure -- Learning Outcomes -- 1. Introduction -- 2. Factors Affecting Capital Structure -- 2.1. Internal Factors Affecting Capital Structure -- 2.2. Existing Leverage -- 2.3. External Factors Affecting Capital Structure -- 3. Capital Structure and Company Life Cycle -- 3.1. Background -- 3.2. Start-Ups -- 3.3. Growth Businesses -- 3.4. Mature Businesses -- 3.5. Unique Situations -- 4. Modigliani-Miller Propositions 4.1. MM Proposition I without Taxes: Capital Structure Irrelevance -- 4.2. MM Proposition II without Taxes: Higher Financial Leverage Raises the Cost of Equity -- 4.3. MM Propositions with Taxes: Firm Value -- 4.4. MM Propositions with Taxes: Cost of Capital -- 4.5. Costs of Financial Distress -- 5. Optimal and Target Capital Structures -- 5.1. Market Value vs. Book Value -- 5.2. Target Weights and WACC -- 5.3. Pecking Order Theory and Agency Costs -- 6. Stakeholder Interests -- 6.1. Debt vs. Equity Conflict -- 6.2. Preferred Shareholders -- 6.3. Management and Directors -- 7. Summary -- 8. Practice Problems -- CHAPTER 6 Measures of Leverage -- Learning Outcomes -- 1. Introduction -- 2. Leverage -- 3. Business and Sales Risks -- 3.1. Business Risk and Its Components -- 3.2. Sales Risk -- 4. Operating Risk and the Degree of Operating Leverage -- 5. Financial Risk, the Degree of Financial Leverage and the Leveraging Role of Debt -- 6. Total Leverage and the Degree of Total Leverage -- 7. Breakeven Points and Operating Breakeven Points -- 8. The Risks of Creditors and Owners -- 9. Summary -- 10. Practice Problems -- CHAPTER 7 Cost of Capital: Foundational Topics -- Learning Outcomes -- 1. Introduction -- 2. Cost of Capital -- 2.1. Taxes and the Cost of Capital -- 3. Costs of the Various Sources of Capital -- 3.1. Cost of Debt -- 3.2. Cost of Preferred Stock -- 3.3. Cost of Common Equity -- 4. Estimating Beta -- 4.1. Estimating Beta for Public Companies -- 4.2. Estimating Beta for Thinly Traded and Nonpublic Companies -- 5. Flotation Costs -- 6. Methods in Use -- 7. Summary -- 8. Practice Problems -- CHAPTER 8 Cost of Capital: Advanced Topics -- Learning Outcomes -- 1. Introduction -- 2. Cost of Capital Factors -- 2.1. Top-Down External Factors -- 2.2. Bottom-Up Company-Specific Factors -- 2.3. Cost of Capital Factors Summary 3. Estimating the Cost of Debt -- 3.1. Traded Debt -- 3.2. Non-Traded Debt -- 3.3. Bank Debt -- 3.4. Leases -- 3.5. International Considerations -- 4. The ERP -- 4.1. Historical Approach -- 4.2. Forward-Looking Approach -- 5. The Cost of Equity (Required Return on Equity) -- 5.1. DDMs -- 5.2. Bond Yield Plus Risk Premium Approach -- 5.3. Risk-Based Models -- 5.4. Estimating the Cost of Equity for Private Companies -- 5.5. International Considerations -- 5.6. Required Return on Equity Summary -- 6. Mini-Case 1 -- 6.1. Gretna Engines -- 7. Mini-Case 2 -- 7.1. Precision Irrigation -- 8. Practice Problems -- CHAPTER 9 Analysis of Dividends and Share Repurchases -- Learning Outcomes -- 1. Dividends: Forms and Effects on Shareholder Wealth and Financial Ratios -- 1.1. Dividends: Forms and Effects on Shareholder Wealth and Issuing Company's Financial Ratios -- 2. Dividend Policy and Company Value: Theories -- 2.1. Dividend Policy Does Not Matter -- 2.2. Dividend Policy Matters: The Bird in the Hand Argument -- 2.3. Dividend Policy Matters: The Tax Argument -- 3. Other Theoretical Issues: Signaling -- 3.1. The Information Content of Dividend Actions: Signaling -- 3.2. Agency Costs and Dividends as a Mechanism to Control Them -- 4. Other Theoretical Issues: Summary -- 5. Factors Affecting Dividend Policy in Practice -- 5.1. Investment Opportunities -- 5.2. The Expected Volatility of Future Earnings -- 5.3. Financial Flexibility -- 5.4. Tax Considerations -- 5.5. Flotation Costs -- 5.6. Contractual and Legal Restrictions -- 5.7. Factors Affecting Dividend Policy: Summary -- 6. Payout Policies -- 6.1. Stable Dividend Policy -- 6.2. Constant Dividend Payout Ratio Policy -- 6.3. Global Trends in Payout Policy -- 7. Share Repurchases -- 7.1. Share Repurchase Methods -- 7.2. Financial Statement Effects of Repurchases 8. Valuation Equivalence of Cash Dividends and Share Repurchase -- 9. The Dividend versus Share Repurchase Decision -- 10. Analysis of Dividend Safety -- 11. Summary -- 12. Practice Problems -- CHAPTER 10 Business Models & -- Risks -- Learning Outcomes -- 1. Introductory Context/Motivation -- 2. What Is a Business Model? -- 2.1. Business Model Features -- 2.2. Customers, Market: Who -- 2.3. Firm Offering: What -- 2.4. Channels: Where -- 2.5. Pricing: How Much -- 2.6. Value Proposition (Who + What + Where + How Much) -- 2.7. Business Organization, Capabilities: How -- 2.8. Profitability and Unit Economics -- 3. Business Model Types -- 3.1. Business Model Innovation -- 3.2. Business Model Variations -- 3.3. E-Commerce Business Models -- 3.4. Network Effects and Platform Business Models -- 3.5. Crowdsourcing Business Models -- 3.6. Hybrid Business Models -- 4. Business Models: Financial Implications -- 4.1. External Factors -- 4.2. Firm-Specific Factors -- 5. Business Risks -- 5.1. Summary -- 6. Macro Risk, Business Risk, and Financial Risk -- 6.1. Risk Impacts Are Cumulative -- 7. Business Risk: A Closer Look -- 7.1. Industry Risks -- 7.2. Industry Definition -- 7.3. Company-Specific Risks -- 8. Financial Risk -- 8.1. Measuring Operating and Financial Leverage -- 9. Summary -- 10. Practice Problems -- CHAPTER 11 The Firm and Market Structures -- Learning Outcomes -- 1. Analysis of Market Structures -- 1.1. Analysis of Market Structures -- 2. Perfect Competition -- 2.1. Demand Analysis in Perfectly Competitive Markets -- 3. Elasticity of Demand -- 4. Other Factors Affecting Demand -- 5. Consumer Surplus: Value Minus Expenditure -- 6. Supply Analysis, Optimal Price, and Output in Perfectly Competitive Markets -- 6.1. Optimal Price and Output in Perfectly Competitive Markets -- 7. Long-Run Equilibrium In Perfectly Competitive Markets 8. Monopolistic Competition |
| ctrlnum | (ZDB-30-PQE)EBC7110237 (ZDB-30-PAD)EBC7110237 (ZDB-89-EBL)EBL7110237 (OCoLC)1348482184 (DE-599)BVBBV048632363 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| edition | 3rd ed |
| format | Electronic eBook |
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Introduction -- 2. Business Structures -- 2.1. Sole Proprietorship (Sole Trader) -- 2.2. General Partnership -- 2.3. Limited Partnership -- 2.4. Corporation (Limited Companies) -- 3. Public and Private Corporations -- 3.1. Exchange Listing and Share Ownership Transfer -- 3.2. Share Issuance -- 3.3. Going Public from Private-IPO, Direct Listing, Acquisition -- 3.4. Life Cycle of Corporations -- 4. Lenders and Owners -- 4.1. Equity and Debt Risk-Return Profiles -- 4.2. Equity vs. Debt Conflicts of Interest -- 5. Summary -- 6. Practice Problems -- CHAPTER 2 Introduction to Corporate Governance and Other ESG Considerations -- Learning Outcomes -- 1. Introduction -- 2. Stakeholder Groups -- 2.1. Shareholder vs. Stakeholder Theory -- 2.2. Shareholders -- 2.3. Creditors/Debtholders -- 2.4. Board of Directors -- 2.5. Managers -- 2.6. Employees -- 2.7. Customers -- 2.8. Suppliers -- 2.9. Governments -- 3. Principal-Agent and Other Relationships -- 3.1. Shareholder and Manager/Director Relationships -- 3.2. Controlling and Minority Shareholder Relationships -- 3.3. Manager and Board Relationships -- 3.4. Shareholder vs. Creditor (Debtholder) Interests -- 4. Corporate Governance and Mechanisms to Manage Stakeholder Risks -- 4.1. Shareholder Mechanisms -- 4.2. Creditor Mechanisms -- 4.3. Board of Director and Management Mechanisms -- 4.4. Employee Mechanisms -- 4.5. Customer and Supplier Mechanisms -- 4.6. Government Mechanisms -- 5. Corporate Governance and Stakeholder Management Risks and Benefits -- 5.1. Operational Risks and Benefits -- 5.2. Legal, Regulatory, or Reputational Risks and Benefits -- 5.3. Financial Risks and Benefits</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">6. ESG Considerations in Investment Analysis -- 6.1. Introduction to Environmental and Social Factors -- 6.2. Evaluating ESG-Related Risks and Opportunities -- 7. Environmental, Social, and Governance Investment Approaches -- 7.1. ESG Investment Approaches -- 7.2. ESG Market Overview -- 8. Summary -- 9. Practice Problems -- CHAPTER 3 Working Capital &amp -- Liquidity -- Learning Outcomes -- 1. Introduction -- 2. Financing Options -- 2.1. Internal Financing -- 2.2. External Financing: Financial Intermediaries -- 2.3. External Financing: Capital Markets -- 3. Working Capital, Liquidity, and Short-Term Funding Needs -- 4. Liquidity and Short-Term Funding -- 4.1. Primary Sources of Liquidity -- 4.2. Secondary Sources of Liquidity -- 4.3. Drags and Pulls on Liquidity -- 5. Measuring Liquidity -- 6. Evaluating Short-Term Financing Choices -- 7. Summary -- 8. Practice Problems -- CHAPTER 4 Capital Investments -- Learning Outcomes -- 1. Introduction -- 2. Types of Capital Investments -- 2.1. Business Maintenance -- 2.2. Business Growth -- 3. The Capital Allocation Process -- 4. Investment Decision Criteria -- 4.1. Net Present Value -- 4.2. Internal Rate of Return -- 5. Common Capital Allocation Pitfalls -- 6. Corporate Use of Capital Allocation -- 7. Real Options -- 7.1. Timing Options -- 7.2. Sizing Options -- 7.3. Flexibility Options -- 7.4. Fundamental Options -- 8. Summary -- 9. Practice Problems -- CHAPTER 5 Capital Structure -- Learning Outcomes -- 1. Introduction -- 2. Factors Affecting Capital Structure -- 2.1. Internal Factors Affecting Capital Structure -- 2.2. Existing Leverage -- 2.3. External Factors Affecting Capital Structure -- 3. Capital Structure and Company Life Cycle -- 3.1. Background -- 3.2. Start-Ups -- 3.3. Growth Businesses -- 3.4. Mature Businesses -- 3.5. Unique Situations -- 4. Modigliani-Miller Propositions</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">4.1. MM Proposition I without Taxes: Capital Structure Irrelevance -- 4.2. MM Proposition II without Taxes: Higher Financial Leverage Raises the Cost of Equity -- 4.3. MM Propositions with Taxes: Firm Value -- 4.4. MM Propositions with Taxes: Cost of Capital -- 4.5. Costs of Financial Distress -- 5. Optimal and Target Capital Structures -- 5.1. Market Value vs. Book Value -- 5.2. Target Weights and WACC -- 5.3. Pecking Order Theory and Agency Costs -- 6. Stakeholder Interests -- 6.1. Debt vs. Equity Conflict -- 6.2. Preferred Shareholders -- 6.3. Management and Directors -- 7. Summary -- 8. Practice Problems -- CHAPTER 6 Measures of Leverage -- Learning Outcomes -- 1. Introduction -- 2. Leverage -- 3. Business and Sales Risks -- 3.1. Business Risk and Its Components -- 3.2. Sales Risk -- 4. Operating Risk and the Degree of Operating Leverage -- 5. Financial Risk, the Degree of Financial Leverage and the Leveraging Role of Debt -- 6. Total Leverage and the Degree of Total Leverage -- 7. Breakeven Points and Operating Breakeven Points -- 8. The Risks of Creditors and Owners -- 9. Summary -- 10. Practice Problems -- CHAPTER 7 Cost of Capital: Foundational Topics -- Learning Outcomes -- 1. Introduction -- 2. Cost of Capital -- 2.1. Taxes and the Cost of Capital -- 3. Costs of the Various Sources of Capital -- 3.1. Cost of Debt -- 3.2. Cost of Preferred Stock -- 3.3. Cost of Common Equity -- 4. Estimating Beta -- 4.1. Estimating Beta for Public Companies -- 4.2. Estimating Beta for Thinly Traded and Nonpublic Companies -- 5. Flotation Costs -- 6. Methods in Use -- 7. Summary -- 8. Practice Problems -- CHAPTER 8 Cost of Capital: Advanced Topics -- Learning Outcomes -- 1. Introduction -- 2. Cost of Capital Factors -- 2.1. Top-Down External Factors -- 2.2. Bottom-Up Company-Specific Factors -- 2.3. Cost of Capital Factors Summary</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">3. Estimating the Cost of Debt -- 3.1. Traded Debt -- 3.2. Non-Traded Debt -- 3.3. Bank Debt -- 3.4. Leases -- 3.5. International Considerations -- 4. The ERP -- 4.1. Historical Approach -- 4.2. Forward-Looking Approach -- 5. The Cost of Equity (Required Return on Equity) -- 5.1. DDMs -- 5.2. Bond Yield Plus Risk Premium Approach -- 5.3. Risk-Based Models -- 5.4. Estimating the Cost of Equity for Private Companies -- 5.5. International Considerations -- 5.6. Required Return on Equity Summary -- 6. Mini-Case 1 -- 6.1. Gretna Engines -- 7. Mini-Case 2 -- 7.1. Precision Irrigation -- 8. Practice Problems -- CHAPTER 9 Analysis of Dividends and Share Repurchases -- Learning Outcomes -- 1. Dividends: Forms and Effects on Shareholder Wealth and Financial Ratios -- 1.1. Dividends: Forms and Effects on Shareholder Wealth and Issuing Company's Financial Ratios -- 2. Dividend Policy and Company Value: Theories -- 2.1. Dividend Policy Does Not Matter -- 2.2. Dividend Policy Matters: The Bird in the Hand Argument -- 2.3. Dividend Policy Matters: The Tax Argument -- 3. Other Theoretical Issues: Signaling -- 3.1. The Information Content of Dividend Actions: Signaling -- 3.2. Agency Costs and Dividends as a Mechanism to Control Them -- 4. Other Theoretical Issues: Summary -- 5. Factors Affecting Dividend Policy in Practice -- 5.1. Investment Opportunities -- 5.2. The Expected Volatility of Future Earnings -- 5.3. Financial Flexibility -- 5.4. Tax Considerations -- 5.5. Flotation Costs -- 5.6. Contractual and Legal Restrictions -- 5.7. Factors Affecting Dividend Policy: Summary -- 6. Payout Policies -- 6.1. Stable Dividend Policy -- 6.2. Constant Dividend Payout Ratio Policy -- 6.3. Global Trends in Payout Policy -- 7. Share Repurchases -- 7.1. Share Repurchase Methods -- 7.2. Financial Statement Effects of Repurchases</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">8. Valuation Equivalence of Cash Dividends and Share Repurchase -- 9. The Dividend versus Share Repurchase Decision -- 10. Analysis of Dividend Safety -- 11. Summary -- 12. Practice Problems -- CHAPTER 10 Business Models &amp -- Risks -- Learning Outcomes -- 1. Introductory Context/Motivation -- 2. What Is a Business Model? -- 2.1. Business Model Features -- 2.2. Customers, Market: Who -- 2.3. Firm Offering: What -- 2.4. Channels: Where -- 2.5. Pricing: How Much -- 2.6. Value Proposition (Who + What + Where + How Much) -- 2.7. Business Organization, Capabilities: How -- 2.8. Profitability and Unit Economics -- 3. Business Model Types -- 3.1. Business Model Innovation -- 3.2. Business Model Variations -- 3.3. E-Commerce Business Models -- 3.4. Network Effects and Platform Business Models -- 3.5. Crowdsourcing Business Models -- 3.6. Hybrid Business Models -- 4. Business Models: Financial Implications -- 4.1. External Factors -- 4.2. Firm-Specific Factors -- 5. Business Risks -- 5.1. Summary -- 6. Macro Risk, Business Risk, and Financial Risk -- 6.1. Risk Impacts Are Cumulative -- 7. Business Risk: A Closer Look -- 7.1. Industry Risks -- 7.2. Industry Definition -- 7.3. Company-Specific Risks -- 8. Financial Risk -- 8.1. Measuring Operating and Financial Leverage -- 9. Summary -- 10. Practice Problems -- CHAPTER 11 The Firm and Market Structures -- Learning Outcomes -- 1. Analysis of Market Structures -- 1.1. Analysis of Market Structures -- 2. Perfect Competition -- 2.1. Demand Analysis in Perfectly Competitive Markets -- 3. Elasticity of Demand -- 4. Other Factors Affecting Demand -- 5. Consumer Surplus: Value Minus Expenditure -- 6. Supply Analysis, Optimal Price, and Output in Perfectly Competitive Markets -- 6.1. Optimal Price and Output in Perfectly Competitive Markets -- 7. Long-Run Equilibrium In Perfectly Competitive Markets</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">8. 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| id | DE-604.BV048632363 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T21:16:06Z |
| indexdate | 2024-07-20T06:46:16Z |
| institution | BVB |
| isbn | 9781119743774 9781119743767 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-034007382 |
| oclc_num | 1348482184 |
| open_access_boolean | |
| owner | DE-2070s |
| owner_facet | DE-2070s |
| physical | 1 Online-Ressource (1045 Seiten) |
| psigel | ZDB-30-PQE ZDB-30-PQE HWR_PDA_PQE_kauf |
| publishDate | 2022 |
| publishDateSearch | 2022 |
| publishDateSort | 2022 |
| publisher | John Wiley & Sons, Incorporated |
| record_format | marc |
| series2 | CFA Institute Investment Ser |
| spelling | Institute, CFA. Verfasser aut Corporate Finance Economic Foundations and Financial Modeling 3rd ed Newark John Wiley & Sons, Incorporated 2022 ©2022 1 Online-Ressource (1045 Seiten) txt rdacontent c rdamedia cr rdacarrier CFA Institute Investment Ser Intro -- Title Page -- Copyright -- Foreword -- Acknowledgments -- About the CFA Institute Investment Series -- CHAPTER 1 Corporate Structures and Ownership -- Learning Outcomes -- 1. Introduction -- 2. Business Structures -- 2.1. Sole Proprietorship (Sole Trader) -- 2.2. General Partnership -- 2.3. Limited Partnership -- 2.4. Corporation (Limited Companies) -- 3. Public and Private Corporations -- 3.1. Exchange Listing and Share Ownership Transfer -- 3.2. Share Issuance -- 3.3. Going Public from Private-IPO, Direct Listing, Acquisition -- 3.4. Life Cycle of Corporations -- 4. Lenders and Owners -- 4.1. Equity and Debt Risk-Return Profiles -- 4.2. Equity vs. Debt Conflicts of Interest -- 5. Summary -- 6. Practice Problems -- CHAPTER 2 Introduction to Corporate Governance and Other ESG Considerations -- Learning Outcomes -- 1. Introduction -- 2. Stakeholder Groups -- 2.1. Shareholder vs. Stakeholder Theory -- 2.2. Shareholders -- 2.3. Creditors/Debtholders -- 2.4. Board of Directors -- 2.5. Managers -- 2.6. Employees -- 2.7. Customers -- 2.8. Suppliers -- 2.9. Governments -- 3. Principal-Agent and Other Relationships -- 3.1. Shareholder and Manager/Director Relationships -- 3.2. Controlling and Minority Shareholder Relationships -- 3.3. Manager and Board Relationships -- 3.4. Shareholder vs. Creditor (Debtholder) Interests -- 4. Corporate Governance and Mechanisms to Manage Stakeholder Risks -- 4.1. Shareholder Mechanisms -- 4.2. Creditor Mechanisms -- 4.3. Board of Director and Management Mechanisms -- 4.4. Employee Mechanisms -- 4.5. Customer and Supplier Mechanisms -- 4.6. Government Mechanisms -- 5. Corporate Governance and Stakeholder Management Risks and Benefits -- 5.1. Operational Risks and Benefits -- 5.2. Legal, Regulatory, or Reputational Risks and Benefits -- 5.3. Financial Risks and Benefits 6. ESG Considerations in Investment Analysis -- 6.1. Introduction to Environmental and Social Factors -- 6.2. Evaluating ESG-Related Risks and Opportunities -- 7. Environmental, Social, and Governance Investment Approaches -- 7.1. ESG Investment Approaches -- 7.2. ESG Market Overview -- 8. Summary -- 9. Practice Problems -- CHAPTER 3 Working Capital & -- Liquidity -- Learning Outcomes -- 1. Introduction -- 2. Financing Options -- 2.1. Internal Financing -- 2.2. External Financing: Financial Intermediaries -- 2.3. External Financing: Capital Markets -- 3. Working Capital, Liquidity, and Short-Term Funding Needs -- 4. Liquidity and Short-Term Funding -- 4.1. Primary Sources of Liquidity -- 4.2. Secondary Sources of Liquidity -- 4.3. Drags and Pulls on Liquidity -- 5. Measuring Liquidity -- 6. Evaluating Short-Term Financing Choices -- 7. Summary -- 8. Practice Problems -- CHAPTER 4 Capital Investments -- Learning Outcomes -- 1. Introduction -- 2. Types of Capital Investments -- 2.1. Business Maintenance -- 2.2. Business Growth -- 3. The Capital Allocation Process -- 4. Investment Decision Criteria -- 4.1. Net Present Value -- 4.2. Internal Rate of Return -- 5. Common Capital Allocation Pitfalls -- 6. Corporate Use of Capital Allocation -- 7. Real Options -- 7.1. Timing Options -- 7.2. Sizing Options -- 7.3. Flexibility Options -- 7.4. Fundamental Options -- 8. Summary -- 9. Practice Problems -- CHAPTER 5 Capital Structure -- Learning Outcomes -- 1. Introduction -- 2. Factors Affecting Capital Structure -- 2.1. Internal Factors Affecting Capital Structure -- 2.2. Existing Leverage -- 2.3. External Factors Affecting Capital Structure -- 3. Capital Structure and Company Life Cycle -- 3.1. Background -- 3.2. Start-Ups -- 3.3. Growth Businesses -- 3.4. Mature Businesses -- 3.5. Unique Situations -- 4. Modigliani-Miller Propositions 4.1. MM Proposition I without Taxes: Capital Structure Irrelevance -- 4.2. MM Proposition II without Taxes: Higher Financial Leverage Raises the Cost of Equity -- 4.3. MM Propositions with Taxes: Firm Value -- 4.4. MM Propositions with Taxes: Cost of Capital -- 4.5. Costs of Financial Distress -- 5. Optimal and Target Capital Structures -- 5.1. Market Value vs. Book Value -- 5.2. Target Weights and WACC -- 5.3. Pecking Order Theory and Agency Costs -- 6. Stakeholder Interests -- 6.1. Debt vs. Equity Conflict -- 6.2. Preferred Shareholders -- 6.3. Management and Directors -- 7. Summary -- 8. Practice Problems -- CHAPTER 6 Measures of Leverage -- Learning Outcomes -- 1. Introduction -- 2. Leverage -- 3. Business and Sales Risks -- 3.1. Business Risk and Its Components -- 3.2. Sales Risk -- 4. Operating Risk and the Degree of Operating Leverage -- 5. Financial Risk, the Degree of Financial Leverage and the Leveraging Role of Debt -- 6. Total Leverage and the Degree of Total Leverage -- 7. Breakeven Points and Operating Breakeven Points -- 8. The Risks of Creditors and Owners -- 9. Summary -- 10. Practice Problems -- CHAPTER 7 Cost of Capital: Foundational Topics -- Learning Outcomes -- 1. Introduction -- 2. Cost of Capital -- 2.1. Taxes and the Cost of Capital -- 3. Costs of the Various Sources of Capital -- 3.1. Cost of Debt -- 3.2. Cost of Preferred Stock -- 3.3. Cost of Common Equity -- 4. Estimating Beta -- 4.1. Estimating Beta for Public Companies -- 4.2. Estimating Beta for Thinly Traded and Nonpublic Companies -- 5. Flotation Costs -- 6. Methods in Use -- 7. Summary -- 8. Practice Problems -- CHAPTER 8 Cost of Capital: Advanced Topics -- Learning Outcomes -- 1. Introduction -- 2. Cost of Capital Factors -- 2.1. Top-Down External Factors -- 2.2. Bottom-Up Company-Specific Factors -- 2.3. Cost of Capital Factors Summary 3. Estimating the Cost of Debt -- 3.1. Traded Debt -- 3.2. Non-Traded Debt -- 3.3. Bank Debt -- 3.4. Leases -- 3.5. International Considerations -- 4. The ERP -- 4.1. Historical Approach -- 4.2. Forward-Looking Approach -- 5. The Cost of Equity (Required Return on Equity) -- 5.1. DDMs -- 5.2. Bond Yield Plus Risk Premium Approach -- 5.3. Risk-Based Models -- 5.4. Estimating the Cost of Equity for Private Companies -- 5.5. International Considerations -- 5.6. Required Return on Equity Summary -- 6. Mini-Case 1 -- 6.1. Gretna Engines -- 7. Mini-Case 2 -- 7.1. Precision Irrigation -- 8. Practice Problems -- CHAPTER 9 Analysis of Dividends and Share Repurchases -- Learning Outcomes -- 1. Dividends: Forms and Effects on Shareholder Wealth and Financial Ratios -- 1.1. Dividends: Forms and Effects on Shareholder Wealth and Issuing Company's Financial Ratios -- 2. Dividend Policy and Company Value: Theories -- 2.1. Dividend Policy Does Not Matter -- 2.2. Dividend Policy Matters: The Bird in the Hand Argument -- 2.3. Dividend Policy Matters: The Tax Argument -- 3. Other Theoretical Issues: Signaling -- 3.1. The Information Content of Dividend Actions: Signaling -- 3.2. Agency Costs and Dividends as a Mechanism to Control Them -- 4. Other Theoretical Issues: Summary -- 5. Factors Affecting Dividend Policy in Practice -- 5.1. Investment Opportunities -- 5.2. The Expected Volatility of Future Earnings -- 5.3. Financial Flexibility -- 5.4. Tax Considerations -- 5.5. Flotation Costs -- 5.6. Contractual and Legal Restrictions -- 5.7. Factors Affecting Dividend Policy: Summary -- 6. Payout Policies -- 6.1. Stable Dividend Policy -- 6.2. Constant Dividend Payout Ratio Policy -- 6.3. Global Trends in Payout Policy -- 7. Share Repurchases -- 7.1. Share Repurchase Methods -- 7.2. Financial Statement Effects of Repurchases 8. Valuation Equivalence of Cash Dividends and Share Repurchase -- 9. The Dividend versus Share Repurchase Decision -- 10. Analysis of Dividend Safety -- 11. Summary -- 12. Practice Problems -- CHAPTER 10 Business Models & -- Risks -- Learning Outcomes -- 1. Introductory Context/Motivation -- 2. What Is a Business Model? -- 2.1. Business Model Features -- 2.2. Customers, Market: Who -- 2.3. Firm Offering: What -- 2.4. Channels: Where -- 2.5. Pricing: How Much -- 2.6. Value Proposition (Who + What + Where + How Much) -- 2.7. Business Organization, Capabilities: How -- 2.8. Profitability and Unit Economics -- 3. Business Model Types -- 3.1. Business Model Innovation -- 3.2. Business Model Variations -- 3.3. E-Commerce Business Models -- 3.4. Network Effects and Platform Business Models -- 3.5. Crowdsourcing Business Models -- 3.6. Hybrid Business Models -- 4. Business Models: Financial Implications -- 4.1. External Factors -- 4.2. Firm-Specific Factors -- 5. Business Risks -- 5.1. Summary -- 6. Macro Risk, Business Risk, and Financial Risk -- 6.1. Risk Impacts Are Cumulative -- 7. Business Risk: A Closer Look -- 7.1. Industry Risks -- 7.2. Industry Definition -- 7.3. Company-Specific Risks -- 8. Financial Risk -- 8.1. Measuring Operating and Financial Leverage -- 9. Summary -- 10. Practice Problems -- CHAPTER 11 The Firm and Market Structures -- Learning Outcomes -- 1. Analysis of Market Structures -- 1.1. Analysis of Market Structures -- 2. Perfect Competition -- 2.1. Demand Analysis in Perfectly Competitive Markets -- 3. Elasticity of Demand -- 4. Other Factors Affecting Demand -- 5. Consumer Surplus: Value Minus Expenditure -- 6. Supply Analysis, Optimal Price, and Output in Perfectly Competitive Markets -- 6.1. Optimal Price and Output in Perfectly Competitive Markets -- 7. Long-Run Equilibrium In Perfectly Competitive Markets 8. Monopolistic Competition Finanzierung (DE-588)4017182-6 gnd rswk-swf Electronic books Finanzierung (DE-588)4017182-6 s DE-604 Clayman, Michelle R. Sonstige oth Fridson, Martin S. Sonstige oth Troughton, George H. Sonstige oth Erscheint auch als Druck-Ausgabe Institute, CFA Corporate Finance Newark : John Wiley & Sons, Incorporated,c2022 9781119743767 |
| spellingShingle | Corporate Finance Economic Foundations and Financial Modeling Intro -- Title Page -- Copyright -- Foreword -- Acknowledgments -- About the CFA Institute Investment Series -- CHAPTER 1 Corporate Structures and Ownership -- Learning Outcomes -- 1. Introduction -- 2. Business Structures -- 2.1. Sole Proprietorship (Sole Trader) -- 2.2. General Partnership -- 2.3. Limited Partnership -- 2.4. Corporation (Limited Companies) -- 3. Public and Private Corporations -- 3.1. Exchange Listing and Share Ownership Transfer -- 3.2. Share Issuance -- 3.3. Going Public from Private-IPO, Direct Listing, Acquisition -- 3.4. Life Cycle of Corporations -- 4. Lenders and Owners -- 4.1. Equity and Debt Risk-Return Profiles -- 4.2. Equity vs. Debt Conflicts of Interest -- 5. Summary -- 6. Practice Problems -- CHAPTER 2 Introduction to Corporate Governance and Other ESG Considerations -- Learning Outcomes -- 1. Introduction -- 2. Stakeholder Groups -- 2.1. Shareholder vs. Stakeholder Theory -- 2.2. Shareholders -- 2.3. Creditors/Debtholders -- 2.4. Board of Directors -- 2.5. Managers -- 2.6. Employees -- 2.7. Customers -- 2.8. Suppliers -- 2.9. Governments -- 3. Principal-Agent and Other Relationships -- 3.1. Shareholder and Manager/Director Relationships -- 3.2. Controlling and Minority Shareholder Relationships -- 3.3. Manager and Board Relationships -- 3.4. Shareholder vs. Creditor (Debtholder) Interests -- 4. Corporate Governance and Mechanisms to Manage Stakeholder Risks -- 4.1. Shareholder Mechanisms -- 4.2. Creditor Mechanisms -- 4.3. Board of Director and Management Mechanisms -- 4.4. Employee Mechanisms -- 4.5. Customer and Supplier Mechanisms -- 4.6. Government Mechanisms -- 5. Corporate Governance and Stakeholder Management Risks and Benefits -- 5.1. Operational Risks and Benefits -- 5.2. Legal, Regulatory, or Reputational Risks and Benefits -- 5.3. Financial Risks and Benefits 6. ESG Considerations in Investment Analysis -- 6.1. Introduction to Environmental and Social Factors -- 6.2. Evaluating ESG-Related Risks and Opportunities -- 7. Environmental, Social, and Governance Investment Approaches -- 7.1. ESG Investment Approaches -- 7.2. ESG Market Overview -- 8. Summary -- 9. Practice Problems -- CHAPTER 3 Working Capital & -- Liquidity -- Learning Outcomes -- 1. Introduction -- 2. Financing Options -- 2.1. Internal Financing -- 2.2. External Financing: Financial Intermediaries -- 2.3. External Financing: Capital Markets -- 3. Working Capital, Liquidity, and Short-Term Funding Needs -- 4. Liquidity and Short-Term Funding -- 4.1. Primary Sources of Liquidity -- 4.2. Secondary Sources of Liquidity -- 4.3. Drags and Pulls on Liquidity -- 5. Measuring Liquidity -- 6. Evaluating Short-Term Financing Choices -- 7. Summary -- 8. Practice Problems -- CHAPTER 4 Capital Investments -- Learning Outcomes -- 1. Introduction -- 2. Types of Capital Investments -- 2.1. Business Maintenance -- 2.2. Business Growth -- 3. The Capital Allocation Process -- 4. Investment Decision Criteria -- 4.1. Net Present Value -- 4.2. Internal Rate of Return -- 5. Common Capital Allocation Pitfalls -- 6. Corporate Use of Capital Allocation -- 7. Real Options -- 7.1. Timing Options -- 7.2. Sizing Options -- 7.3. Flexibility Options -- 7.4. Fundamental Options -- 8. Summary -- 9. Practice Problems -- CHAPTER 5 Capital Structure -- Learning Outcomes -- 1. Introduction -- 2. Factors Affecting Capital Structure -- 2.1. Internal Factors Affecting Capital Structure -- 2.2. Existing Leverage -- 2.3. External Factors Affecting Capital Structure -- 3. Capital Structure and Company Life Cycle -- 3.1. Background -- 3.2. Start-Ups -- 3.3. Growth Businesses -- 3.4. Mature Businesses -- 3.5. Unique Situations -- 4. Modigliani-Miller Propositions 4.1. MM Proposition I without Taxes: Capital Structure Irrelevance -- 4.2. MM Proposition II without Taxes: Higher Financial Leverage Raises the Cost of Equity -- 4.3. MM Propositions with Taxes: Firm Value -- 4.4. MM Propositions with Taxes: Cost of Capital -- 4.5. Costs of Financial Distress -- 5. Optimal and Target Capital Structures -- 5.1. Market Value vs. Book Value -- 5.2. Target Weights and WACC -- 5.3. Pecking Order Theory and Agency Costs -- 6. Stakeholder Interests -- 6.1. Debt vs. Equity Conflict -- 6.2. Preferred Shareholders -- 6.3. Management and Directors -- 7. Summary -- 8. Practice Problems -- CHAPTER 6 Measures of Leverage -- Learning Outcomes -- 1. Introduction -- 2. Leverage -- 3. Business and Sales Risks -- 3.1. Business Risk and Its Components -- 3.2. Sales Risk -- 4. Operating Risk and the Degree of Operating Leverage -- 5. Financial Risk, the Degree of Financial Leverage and the Leveraging Role of Debt -- 6. Total Leverage and the Degree of Total Leverage -- 7. Breakeven Points and Operating Breakeven Points -- 8. The Risks of Creditors and Owners -- 9. Summary -- 10. Practice Problems -- CHAPTER 7 Cost of Capital: Foundational Topics -- Learning Outcomes -- 1. Introduction -- 2. Cost of Capital -- 2.1. Taxes and the Cost of Capital -- 3. Costs of the Various Sources of Capital -- 3.1. Cost of Debt -- 3.2. Cost of Preferred Stock -- 3.3. Cost of Common Equity -- 4. Estimating Beta -- 4.1. Estimating Beta for Public Companies -- 4.2. Estimating Beta for Thinly Traded and Nonpublic Companies -- 5. Flotation Costs -- 6. Methods in Use -- 7. Summary -- 8. Practice Problems -- CHAPTER 8 Cost of Capital: Advanced Topics -- Learning Outcomes -- 1. Introduction -- 2. Cost of Capital Factors -- 2.1. Top-Down External Factors -- 2.2. Bottom-Up Company-Specific Factors -- 2.3. Cost of Capital Factors Summary 3. Estimating the Cost of Debt -- 3.1. Traded Debt -- 3.2. Non-Traded Debt -- 3.3. Bank Debt -- 3.4. Leases -- 3.5. International Considerations -- 4. The ERP -- 4.1. Historical Approach -- 4.2. Forward-Looking Approach -- 5. The Cost of Equity (Required Return on Equity) -- 5.1. DDMs -- 5.2. Bond Yield Plus Risk Premium Approach -- 5.3. Risk-Based Models -- 5.4. Estimating the Cost of Equity for Private Companies -- 5.5. International Considerations -- 5.6. Required Return on Equity Summary -- 6. Mini-Case 1 -- 6.1. Gretna Engines -- 7. Mini-Case 2 -- 7.1. Precision Irrigation -- 8. Practice Problems -- CHAPTER 9 Analysis of Dividends and Share Repurchases -- Learning Outcomes -- 1. Dividends: Forms and Effects on Shareholder Wealth and Financial Ratios -- 1.1. Dividends: Forms and Effects on Shareholder Wealth and Issuing Company's Financial Ratios -- 2. Dividend Policy and Company Value: Theories -- 2.1. Dividend Policy Does Not Matter -- 2.2. Dividend Policy Matters: The Bird in the Hand Argument -- 2.3. Dividend Policy Matters: The Tax Argument -- 3. Other Theoretical Issues: Signaling -- 3.1. The Information Content of Dividend Actions: Signaling -- 3.2. Agency Costs and Dividends as a Mechanism to Control Them -- 4. Other Theoretical Issues: Summary -- 5. Factors Affecting Dividend Policy in Practice -- 5.1. Investment Opportunities -- 5.2. The Expected Volatility of Future Earnings -- 5.3. Financial Flexibility -- 5.4. Tax Considerations -- 5.5. Flotation Costs -- 5.6. Contractual and Legal Restrictions -- 5.7. Factors Affecting Dividend Policy: Summary -- 6. Payout Policies -- 6.1. Stable Dividend Policy -- 6.2. Constant Dividend Payout Ratio Policy -- 6.3. Global Trends in Payout Policy -- 7. Share Repurchases -- 7.1. Share Repurchase Methods -- 7.2. Financial Statement Effects of Repurchases 8. Valuation Equivalence of Cash Dividends and Share Repurchase -- 9. The Dividend versus Share Repurchase Decision -- 10. Analysis of Dividend Safety -- 11. Summary -- 12. Practice Problems -- CHAPTER 10 Business Models & -- Risks -- Learning Outcomes -- 1. Introductory Context/Motivation -- 2. What Is a Business Model? -- 2.1. Business Model Features -- 2.2. Customers, Market: Who -- 2.3. Firm Offering: What -- 2.4. Channels: Where -- 2.5. Pricing: How Much -- 2.6. Value Proposition (Who + What + Where + How Much) -- 2.7. Business Organization, Capabilities: How -- 2.8. Profitability and Unit Economics -- 3. Business Model Types -- 3.1. Business Model Innovation -- 3.2. Business Model Variations -- 3.3. E-Commerce Business Models -- 3.4. Network Effects and Platform Business Models -- 3.5. Crowdsourcing Business Models -- 3.6. Hybrid Business Models -- 4. Business Models: Financial Implications -- 4.1. External Factors -- 4.2. Firm-Specific Factors -- 5. Business Risks -- 5.1. Summary -- 6. Macro Risk, Business Risk, and Financial Risk -- 6.1. Risk Impacts Are Cumulative -- 7. Business Risk: A Closer Look -- 7.1. Industry Risks -- 7.2. Industry Definition -- 7.3. Company-Specific Risks -- 8. Financial Risk -- 8.1. Measuring Operating and Financial Leverage -- 9. Summary -- 10. Practice Problems -- CHAPTER 11 The Firm and Market Structures -- Learning Outcomes -- 1. Analysis of Market Structures -- 1.1. Analysis of Market Structures -- 2. Perfect Competition -- 2.1. Demand Analysis in Perfectly Competitive Markets -- 3. Elasticity of Demand -- 4. Other Factors Affecting Demand -- 5. Consumer Surplus: Value Minus Expenditure -- 6. Supply Analysis, Optimal Price, and Output in Perfectly Competitive Markets -- 6.1. Optimal Price and Output in Perfectly Competitive Markets -- 7. Long-Run Equilibrium In Perfectly Competitive Markets 8. Monopolistic Competition Finanzierung (DE-588)4017182-6 gnd |
| subject_GND | (DE-588)4017182-6 |
| title | Corporate Finance Economic Foundations and Financial Modeling |
| title_auth | Corporate Finance Economic Foundations and Financial Modeling |
| title_exact_search | Corporate Finance Economic Foundations and Financial Modeling |
| title_exact_search_txtP | Corporate Finance Economic Foundations and Financial Modeling |
| title_full | Corporate Finance Economic Foundations and Financial Modeling |
| title_fullStr | Corporate Finance Economic Foundations and Financial Modeling |
| title_full_unstemmed | Corporate Finance Economic Foundations and Financial Modeling |
| title_short | Corporate Finance |
| title_sort | corporate finance economic foundations and financial modeling |
| title_sub | Economic Foundations and Financial Modeling |
| topic | Finanzierung (DE-588)4017182-6 gnd |
| topic_facet | Finanzierung |
| work_keys_str_mv | AT institutecfa corporatefinanceeconomicfoundationsandfinancialmodeling AT claymanmicheller corporatefinanceeconomicfoundationsandfinancialmodeling AT fridsonmartins corporatefinanceeconomicfoundationsandfinancialmodeling AT troughtongeorgeh corporatefinanceeconomicfoundationsandfinancialmodeling |