{"product_id":"an-introduction-to-corporate-finance-isbn-9780470026755","title":"An Introduction to Corporate Finance","description":"\u003ci\u003eAn Introduction to Corporate Finance\u003c\/i\u003e provides the reader with a complete overview of Corporate Finance from perspective of the investment Banker. The author, a corporate trainer and former investment banker clarifies the role of the investment banker in numerous corporate finance transactions, including mergers \u0026amp; acquisitions, IPO's, and valuation. Given today's corporate climate, every student studying corporate finance and those working in the field need this book to sharpen their skill set. \u003cp\u003eAbout the author xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 ‘BEHIND THE CHINESE WALL’ 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCorporate finance in investment banking 2\u003c\/p\u003e \u003cp\u003eChinese walls 3\u003c\/p\u003e \u003cp\u003eCorporate finance assignments 5\u003c\/p\u003e \u003cp\u003eFlotations\/IPOs 6\u003c\/p\u003e \u003cp\u003eMergers, acquisitions and divestitures 8\u003c\/p\u003e \u003cp\u003eLeveraged buyouts and management buyouts 13\u003c\/p\u003e \u003cp\u003eFinancial advice 13\u003c\/p\u003e \u003cp\u003eCareers in corporate finance 15\u003c\/p\u003e \u003cp\u003eOrganisation of this book 20\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I CORPORATE FINANCE TRANSACTIONS 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 SOURCES OF CAPITAL 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDebt securities 27\u003c\/p\u003e \u003cp\u003eMoney market securities 27\u003c\/p\u003e \u003cp\u003eLong-term debt 29\u003c\/p\u003e \u003cp\u003eFloating rate notes 31\u003c\/p\u003e \u003cp\u003eEquity 32\u003c\/p\u003e \u003cp\u003ePreference shares 32\u003c\/p\u003e \u003cp\u003eOrdinary shares 34\u003c\/p\u003e \u003cp\u003eHybrids (convertible securities) 36\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 FLOTATIONS\/INITIAL PUBLIC OFFERINGS 39\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrimary offerings 40\u003c\/p\u003e \u003cp\u003eAncillary benefits of flotation 46\u003c\/p\u003e \u003cp\u003eDisadvantages of flotation 46\u003c\/p\u003e \u003cp\u003eMethods of flotation 47\u003c\/p\u003e \u003cp\u003eSuitability for listing 49\u003c\/p\u003e \u003cp\u003eThe offering process 52\u003c\/p\u003e \u003cp\u003eParticipants and roles 52\u003c\/p\u003e \u003cp\u003eDocumentation and regulation 55\u003c\/p\u003e \u003cp\u003eDue diligence and verification 57\u003c\/p\u003e \u003cp\u003eMarketing, syndication and pricing 59\u003c\/p\u003e \u003cp\u003eUnderwriting 62\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 INTERNATIONAL EQUITY OFFERINGS 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRationale for international offerings 66\u003c\/p\u003e \u003cp\u003eInternational investors 68\u003c\/p\u003e \u003cp\u003eDevelopment of international equity offerings 69\u003c\/p\u003e \u003cp\u003eRegulation and documentation 70\u003c\/p\u003e \u003cp\u003eDepository receipts 73\u003c\/p\u003e \u003cp\u003eMarketing, syndication and distribution 75\u003c\/p\u003e \u003cp\u003eOffer structure 76\u003c\/p\u003e \u003cp\u003ePrice setting, underwriting and bookbuilding 77\u003c\/p\u003e \u003cp\u003eFees and commissions 79\u003c\/p\u003e \u003cp\u003eAfter the new issue 81\u003c\/p\u003e \u003cp\u003eStabilisation 81\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 RIGHTS ISSUES\/SECONDARY OFFERINGS 83\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePre-emption rights 85\u003c\/p\u003e \u003cp\u003eSetting the price 87\u003c\/p\u003e \u003cp\u003eCalculating the theoretical rights price 88\u003c\/p\u003e \u003cp\u003eRights issue timetable 90\u003c\/p\u003e \u003cp\u003eFees and commissions 90\u003c\/p\u003e \u003cp\u003eSecondary offerings 94\u003c\/p\u003e \u003cp\u003eMarketed offerings 95\u003c\/p\u003e \u003cp\u003eBought deals 96\u003c\/p\u003e \u003cp\u003eAccelerated bookbuilding 98\u003c\/p\u003e \u003cp\u003eDemergers 100\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 MERGERS AND ACQUISITIONS 101\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRationale for M\u0026amp;A 102\u003c\/p\u003e \u003cp\u003eTypes of merger 104\u003c\/p\u003e \u003cp\u003eMerger waves 106\u003c\/p\u003e \u003cp\u003eFinancing the transaction 107\u003c\/p\u003e \u003cp\u003eBootstrap transactions 109\u003c\/p\u003e \u003cp\u003eRegulation of M\u0026amp;As 110\u003c\/p\u003e \u003cp\u003eKey elements of the City Code 111\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 MANAGEMENT BUYOUTS 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinancial structure 118\u003c\/p\u003e \u003cp\u003eBank finance (secured lending) 120\u003c\/p\u003e \u003cp\u003ePrivate equity funds 122\u003c\/p\u003e \u003cp\u003eMezzanine finance 123\u003c\/p\u003e \u003cp\u003eHigh-yield bonds 124\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II CORPORATE FINANCE TECHNIQUES 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 VALUING SECURITIES 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eValuing bonds 130\u003c\/p\u003e \u003cp\u003eValuing shares and companies 132\u003c\/p\u003e \u003cp\u003eCash flow based valuations 135\u003c\/p\u003e \u003cp\u003eDetermination of terminal\/residual value 139\u003c\/p\u003e \u003cp\u003eDetermining the discount rate 143\u003c\/p\u003e \u003cp\u003eDetermining the value of the business 143\u003c\/p\u003e \u003cp\u003eRelative valuations 146\u003c\/p\u003e \u003cp\u003ePrice earnings ratio 148\u003c\/p\u003e \u003cp\u003ePrice\/EBIT multiple 149\u003c\/p\u003e \u003cp\u003eMarket to book value 149\u003c\/p\u003e \u003cp\u003eDividend yield 150\u003c\/p\u003e \u003cp\u003eEnterprise value to EBITDA 151\u003c\/p\u003e \u003cp\u003eDetermining the value of a business based on ratios\/multiples 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 DETERMINING THE COST OF CAPITAL 159\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWeighted average cost of capital 160\u003c\/p\u003e \u003cp\u003eUse market values 161\u003c\/p\u003e \u003cp\u003eUse target\/optimal weighting 162\u003c\/p\u003e \u003cp\u003eAfter tax 163\u003c\/p\u003e \u003cp\u003eMatch nominal rates with nominal cash flows 163\u003c\/p\u003e \u003cp\u003eCost of debt: Kd 165\u003c\/p\u003e \u003cp\u003eCost of equity: Ke 166\u003c\/p\u003e \u003cp\u003eCapital asset pricing model 168\u003c\/p\u003e \u003cp\u003eRisk-free rate 170\u003c\/p\u003e \u003cp\u003eMarket risk premium (equity risk premium) 170\u003c\/p\u003e \u003cp\u003eBeta (β) 171\u003c\/p\u003e \u003cp\u003eHealth warning 172\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 SHAREHOLDER VALUE ADDED (ECONOMIC PROFIT) 173\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eJust another number? 174\u003c\/p\u003e \u003cp\u003eBenefits of SVA 175\u003c\/p\u003e \u003cp\u003eCalculation of SVA 177\u003c\/p\u003e \u003cp\u003eLimitations of economic profit calculations 181\u003c\/p\u003e \u003cp\u003eAppendix: UK CORPORATE VALUATION METHODS: A SURVEY 183\u003c\/p\u003e \u003cp\u003eScoring and tables 184\u003c\/p\u003e \u003cp\u003eA.1 Valuation methodology 185\u003c\/p\u003e \u003cp\u003eA.1.1 Frequency of use 186\u003c\/p\u003e \u003cp\u003eA.1.2 Calculation of final valuation or value range 188\u003c\/p\u003e \u003cp\u003eA.2 Discounted cash flows 189\u003c\/p\u003e \u003cp\u003eA.2.1 DCF approaches 189\u003c\/p\u003e \u003cp\u003eA.2.2 Forecast period 190\u003c\/p\u003e \u003cp\u003eA.2.3 Terminal value 191\u003c\/p\u003e \u003cp\u003eA.3 Cost of capital 192\u003c\/p\u003e \u003cp\u003eA.3.1 Determining the cost of equity 192\u003c\/p\u003e \u003cp\u003eA.3.2 Capital asset pricing model 193\u003c\/p\u003e \u003cp\u003eSources of information 197\u003c\/p\u003e \u003cp\u003eGlossary 199\u003c\/p\u003e \u003cp\u003eList of abbreviations 211\u003c\/p\u003e \u003cp\u003eAdditional reading 213\u003c\/p\u003e \u003cp\u003eIndex 215\u003c\/p\u003e \u003cb\u003eRoss Geddes\u003c\/b\u003e is a practitioner and educator in the corporate finance world. He has over 20 years of experience working on financings (both debt and equity) as well as M\u0026amp;A transactions. During his corporate finance career in Canada and the UK, he helped corporations and governments raise over $7 billion in equity in IPOs, secondary offerings and privatisations. Ross is the author of three other books on finance. He now resides in Canada.  In \u003ci\u003eAn Introduction to Corporate Finance\u003c\/i\u003e, Ross Geddes provides a complete overview of the fundamentals of corporate finance from an investment banker’s perspective. Split into two distinct sections; the first provides insights into financial advice, careers in corporate finance, sources of capital, mergers and acquisitions, flotations, international equity offerings and rights issues, and management buy-outs. The second section describes the main valuation techniques used to price (or value) companies during the transactions described. It also includes chapters on the determination of the cost of capital and shareholder value.  \u003cp\u003eWritten by a former investment banker, this book will be of interest to those currently employed or interested in working in the City of London; whether at an investment bank, law firm, or accountancy firm. Others will want to read this book in order to learn more about some of the most eventful and exciting corporate transactions that make the headlines of the business pages.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988725285093,"sku":"NP9780470026755","price":46.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470026755.jpg?v=1761781343","url":"https:\/\/k12savings.com\/es\/products\/an-introduction-to-corporate-finance-isbn-9780470026755","provider":"K12savings","version":"1.0","type":"link"}