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Principles Of Corporate Finance
''Principles of Corporate Finance'' is a reference work on the corporate finance theory edited by Richard Brealey, Stewart Myers, Franklin Allen, and Alex Edmans. The book is one of the leading texts that describes the theory and practice of corporate finance. It was initially published in October 1980 and now is available in its 14th edition. ''Principles of Corporate Finance'' has earned loyalty both as a classroom tool and as a professional reference book. Overview The book covers a wide range of aspects relevant to corporate finance, illustrated by examples and case studies. The text starts with explaining basic finance concepts of value, risk, and other principles. Then the issues become more and more complex, from project analysis and net present value calculations, to debt policy and option valuation. Other discussed topics include stakeholder theory, corporate governance, mergers and acquisitions, principal–agent problem The principal–agent problem refers to the con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Brealey
__NOTOC__ Richard A. Brealey is a British economist and author. He is an emeritus professor at the London Business School and a Fellow of the British Academy. He co-authored ''Principles of Corporate Finance'' with Stewart C. Myers and Franklin Allen (now in its thirteenth edition). He was a full-time faculty member of the London Business School from 1968-1998. He has held the posts of Director of the American Finance Association and president of the European Finance Association. He is a member of the editorial boards of the ''Journal of Applied Corporate Finance'', '' Journal of Empirical Finance'', Journal of Empirical Finance and '' European Finance Review''. Professo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stewart Myers
Stewart Clay Myers is the Robert C. Merton Professor of Financial Economics at the MIT Sloan School of Management. He is notable for his work on capital structure and innovations in capital budgeting and valuation, and has had a "remarkable influence" on both the theory and practice of corporate finance. Myers, in fact, coined the term "real option". He is the co-author with Richard A. Brealey and Franklin Allen of ''Principles of Corporate Finance'', a widely used and cited business school textbook, now in its 11th edition. He is also the author of dozens of research articles. Career He holds a Ph.D. and MBA from Stanford University and an A.B. from Williams College. He began teaching at MIT Sloan School of Management in 1966. His contributions are seen as falling into three main categories: *Work on capital structure, focusing on "debt overhang" and "pecking order theory". *Contributions to capital budgeting that complement his research on capital structure. He is notable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Franklin Allen
Franklin Allen, (born 6 March 1956) is a British economist and academic. Since 2014, he has been professor of finance and economics, and executive director of the Brevan Howard Centre at Imperial College London. He was the Nippon Life Professor of Finance and Economics at the Wharton School of the University of Pennsylvania. He is most active in the research areas of financial innovations, asset price bubbles, the comparison of financial systems, and financial crises. Early life and education He was educated at Merchant Taylors' School, Northwood and Norwich City College. He graduated from the University of East Anglia with a first class bachelor's degree in 1977 and completed his doctorate in economics at Nuffield College, Oxford in 1980. Academic career Allen was associate professor of finance and associate professor of finance and economics at the Wharton School from 1980 to 1990, when he became vice dean and director of the Wharton Doctoral Programs and Professor of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alex Edmans
Alex Edmans is professor of finance at London Business School and the current Mercers' School Memorial Professor of Business at Gresham College. Since 2017 he has been the Managing Editor of the Review of Finance, the leading academic finance journal in Europe. He gave the TED talWhat to Trust in a Post-Truth World on confirmation bias and the importance of being discerning with evidence. In 2021 he was named Professor of the Year by Poets & Quants. Education and early career Edmans received a BA from Merton College, Oxford and a PhD from MIT Sloan School of Management as a Fulbright scholar. After two stints at Morgan Stanley, his first academic position was at Wharton School of the University of Pennsylvania. He was awarded tenure in 2013 and then moved to London Business School as a full professor of finance. Research Edmans' research is on corporate governance, executive pay, responsible business, and behavioral finance, and has been cited over 12,500 times. His wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McGraw-Hill/Irwin
McGraw Hill is an American educational publishing company and one of the "big three" educational publishers that publishes educational content, software, and services for pre-K through postgraduate education. The company also publishes reference and trade publications for the medical, business, and engineering professions. McGraw Hill operates in 28 countries, has about 4,000 employees globally, and offers products and services to about 140 countries in about 60 languages. Formerly a division of The McGraw Hill Companies (later renamed McGraw Hill Financial, now S&P Global), McGraw Hill Education was divested and acquired by Apollo Global Management in March 2013 for $2.4 billion in cash. McGraw Hill was sold in 2021 to Platinum Equity for $4.5 billion. Corporate History McGraw Hill was founded in 1888 when James H. McGraw, co-founder of the company, purchased the ''American Journal of Railway Appliances''. He continued to add further publications, eventually establishing The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goodreads
Goodreads is an American social cataloging website and a subsidiary of Amazon that allows individuals to search its database of books, annotations, quotes, and reviews. Users can sign up and register books to generate library catalogs and reading lists. They can also create their own groups of book suggestions, surveys, polls, blogs, and discussions. The website's offices are located in San Francisco. Goodreads was founded in December 2006 and launched in January 2007 by Otis Chandler and Elizabeth Khuri Chandler. In December 2007, the site had 650,000 members and 10,000,000 books had been added. By July 2012, the site reported 10 million members, 20 million monthly visits, and thirty employees. On March 28, 2013, Amazon announced its acquisition of Goodreads, and by July 23, 2013, Goodreads announced their user base had grown to 20 million members. By July 2019, the site had 90 million members. History Founders Goodreads founders Otis Chandler and Elizabeth Khuri Chan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Finance
Corporate finance is the area of finance that deals with the sources of funding, the capital structure of corporations, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and analysis used to allocate financial resources. The primary goal of corporate finance is to Shareholder value, maximize or increase valuation (finance), shareholder value. Correspondingly, corporate finance comprises two main sub-disciplines. Capital budgeting is concerned with the setting of criteria about which value-adding projects should receive investment funding, and whether to finance that investment with ownership equity, equity or debt capital. Working capital management is the management of the company's monetary funds that deal with the short-term business operations, operating balance of current assets and Current liability, current liabilities; the focus here is on managing cash, inventory, inventories, and short-term borrowing an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Net Present Value
The net present value (NPV) or net present worth (NPW) applies to a series of cash flows occurring at different times. The present value of a cash flow depends on the interval of time between now and the cash flow. It also depends on the discount rate. NPV accounts for the time value of money. It provides a method for evaluating and comparing capital projects or financial products with cash flows spread over time, as in loans, investments, payouts from insurance contracts plus many other applications. Time value of money dictates that time affects the value of cash flows. For example, a lender may offer 99 cents for the promise of receiving $1.00 a month from now, but the promise to receive that same dollar 20 years in the future would be worth much less today to that same person (lender), even if the payback in both cases was equally certain. This decrease in the current value of future cash flows is based on a chosen rate of return (or discount rate). If for example there exists ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Option Valuation
In finance, a price (premium) is paid or received for purchasing or selling options. This article discusses the calculation of this premium in general. For further detail, see: for discussion of the mathematics; Financial engineering for the implementation; as well as generally. Premium components This price can be split into two components: intrinsic value, and time value. Intrinsic value The ''intrinsic value'' is the difference between the underlying spot price and the strike price, to the extent that this is in favor of the option holder. For a call option, the option is in-the-money if the underlying spot price is higher than the strike price; then the intrinsic value is the underlying price minus the strike price. For a put option, the option is in-the-money if the ''strike'' price is higher than the underlying spot price; then the intrinsic value is the strike price minus the underlying spot price. Otherwise the intrinsic value is zero. For example, when a DJI call ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stakeholder Theory
The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. It addresses morals and values in managing an organization, such as those related to corporate social responsibility, market economy, and social contract theory. The stakeholder view of strategy integrates a resource-based view and a market-based view, and adds a socio-political level. One common version of stakeholder theory seeks to define the specific stakeholders of a company (the normative theory of stakeholder ''identification'') and then examine the conditions under which managers treat these parties as stakeholders (the descriptive theory of stakeholder ''salience''). In fields such as law, management, and human resources, stakeholder theory succeeded in challenging the usual analysis frameworks, by suggesting that stakeholders' needs should be pu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Governance
Corporate governance is defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions that appear purpose-specific. Writers concerned with regulatory policy in relation to corporate governance practices often use broader structural descriptions. A broad (meta) definition that encompasses many adopted definitions is "Corporate governance” describes the processes, structures, and mechanisms that influence the control and direction of corporations." This meta definition accommodates both the narrow definitions used in specific contexts and the broader descriptions that are often presented as authoritative. The latter include: the structural definition from the Cadbury Report, which identifies corporate governance as "the system by which companies are directed and controlled" (Cadbury 1992, p. 15); and the relational-structura ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mergers And Acquisitions
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is a legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. A deal may be euphemistically called a ''merger of equals'' if both CEOs agree that joining together is in the best interest of both of their companies. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. In most countries, mergers and acquisitions must co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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