财务管理 英文版PDF电子书下载

COntents 1

1 Introduction 1

Business finance 1

The financial environment 3

Accounting 6

Problems in finance 15

2 Interest rates 19

Time 19

Inflation 20

Risk and required return 26

3 Cash 30

Uses of cash 30

Cash and profit 35

Cash planning 38

4 Working capital 43

Working capital as a whole 43

StOCkS 47

Debtors 50

Spontaneous creditors 54

5 Basic capital project appraisal 57

Background 57

Simple appraisal methods 59

Measuring profit over time 63

Discounted cash flow methods 67

6 Capital project appraisal refinements 76

Taxation 76

Capital disinvestment 79

Inflation 81

Risk and uncertainty 85

Capital budgeting 91

7 Borrowing 95

General features 95

Reducing the lender’s risk 98

The cost of debt 100

Other types of debt 102

Valuing debt 104

8 Ordinary shares 109

Shareholders’funds 109

The stock exchange 111

Issuing equity shares 115

Dividend policy 119

9 Valuing equity 125

Modern portfolio theory 125

Other share valuation methods 131

10 Corporate nuance 136

Cost of capital 136

Gearing 140

Capital structure 142

The corporate life cycle 147

11 Mergers and reconstructions 151

Reasons for mergers 151

Merger statistics 155

The process of merging 157

Restructuring 160

Appendix A：Acronyms 167

Appendix B：Present value tables 169

Glossary 175

Bibliography 192

Index 193