Corporate Finance for Long-Term Value 1st edition by Dirk Schoenmaker, Willem Schramade – Ebook PDF Instant Download/Delivery. 3031350085, 978-3031350085
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Product details:
ISBN 10: 3031350085
ISBN 13: 978-3031350085
Author: Dirk Schoenmaker, Willem Schramade
This open access textbook offers a guide to corporate finance for modern companies that want to create long-term value. Drawing on recent literature on sustainable companies, it starts by analysing the Sustainable Development Goals as a strategy for the transition to a sustainable economy. Next, it translates the general concept of sustainability into core corporate finance methods, such as net present value, company valuation, cost of capital, capital structure and M&A.
Current corporate finance textbooks are primarily based on the shareholder model, designed to maximise financial value. This book instead adopts the integrated model, which argues that companies have to serve the interests of their current and future stakeholders. Accordingly, companies move from simply maximising financial value to optimising integrated value, which combines financial, social and environmental value. Applying this new paradigm of integrated value is the truly innovative feature of this textbook.
Written for undergraduate and graduate students of Finance, Economics, and Business Administration, this textbook provides a fresh analysis of corporate finance. Combining theory, empirical data and examples from actual companies, it reveals the sustainability challenges for corporate investment and shows how finance can be used to steer funds to sustainable companies and projects and thus accelerate the transition to a sustainable economy.
Corporate Finance for Long-Term Value 1st Table of contents:
Part 1: Why Corporate Finance for Long-term Value?
- The Company Within Social and Planetary Boundaries
- Integrated Value Creation
- Corporate Governance
Part 2: Discount Rates and Valuation Methods
- Discount Rates and the Scarcity of Capital
- Calculating Social and Environmental Value
- Investment Decision Rules
- Capital Budgeting
Part 3: Valuation of Companies
- Valuing Bonds
- Valuing Public Equity
- Valuing Private Equity
- Case Study: Integrated Valuation – Inditex
Part 4: Risk, Return, and Impact
- Risk-return Analysis
- Cost of Capital
- Capital Market Adaptability, Investor Behaviour, and Impact
Part 5: Corporate Financial Policies
- Capital Structure
- Issues and Pay-outs
- Reporting and Investor Relations
- Mergers and Acquisitions
- Options on All Capitals
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