Format: True Pdf

Size: 28mb

Features

• Financial techniques are illustrated in practical terms, using clear accessible language.
• New Financial Times articles help you see the relevance of the theory to the real world
• Finance is presented as a dynamic subject that is open to theoretical re-evaluation 
• Extensive range of examples and case studies, with statistics and data ranging from the number of corporate mergers to the default rates on corporate bonds
• Easy-to-follow mathematical explanations

Front Cover; Half Title Page; Title Page; Copyright Page; Brief contents; Contents; Topics covered in the book; Introduction to the book; Acknowledgements; PART 1 Introduction; Chapter 1 The financial world; LEARNING OUTCOMES; Introduction; The objective of the firm; Case study 1.1 Experian; Some possible objectives; Corporate governance; Primitive and modern economies; The role of the financial manager; The flow of funds and financial intermediation; Growth in the financial services sector; The financial system; Concluding comments; Key points and concepts; References and further reading Case study recommendationsWebsites; Self-review questions; Questions and problems; Assignments; PART 2 The investment decision; Chapter 2 Project appraisal: net present value and internal rate of return; LEARNING OUTCOMES; Introduction; Value creation and corporate investment; Net present value and internal rate of return; Modified internal rate of return; Concluding comments; Key points and concepts; Appendix 2.1 Mathematical tools for finance; References and further reading; Case study recommendations; Websites; Self-review questions; Questions and problems; Assignments Chapter 3 Project appraisal: cash flow and applicationsLEARNING OUTCOMES; Introduction; Case study 3.1 Toyota invests £240m to upgrade car plant in boost for Brexit Britain; Quality of information; Are profit calculations useful for estimating project viability?; The replacement decision; Replacement cycles; When to introduce a new machine; Drawbacks of the annual equivalent annuity method; Timing of projects; The make or buy decision; Fluctuating output; Concluding comments; Key points and concepts; References and further reading; Case study recommendations; Self-review questions Questions and problemsAssignments; Chapter 4 The decision-making process for investment appraisal; LEARNING OUTCOMES; Introduction; Evidence on the employment of appraisal techniques; Payback; Accounting rate of return; Internal rate of return: reasons for continued popularity; The managerial 'art' of investment appraisal; The investment process; Concluding comments; Key points and concepts; References and further reading; Case study recommendations; Self-review questions; Questions and problems; Assignment; Chapter 5 Project appraisal: capital rationing, taxation and inflation LEARNING OUTCOMESIntroduction; Capital rationing; Taxation and investment appraisal; Inflation; Concluding comments; Key points and concepts; References and further reading; Case study recommendations; Self-review questions; Questions and problems; Assignments; PART 3 Risk and return; Chapter 6 Risk and project appraisal; LEARNING OUTCOMES; Case study 6.1 Camelot; Introduction; What is risk?; Adjusting for risk through the discount rate; Sensitivity analysis; Scenario analysis; The risk of insolvency; Probability analysis; Problems of using probability analysis

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