Applied Corporate Finance
Applied Corporate Finance
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应用企业融资
DOI：
10.1007/978-3-030-81631-5
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发表时间：
2021
期刊：
影响因子：
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通讯作者：
A. Damodaran
中科院分区：
文献类型：
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作者：
A. Damodaran
将理论转化为解决方案：公司财务现实检查
这本公司财务实践指南的重点是将公司财务中的理论和模型转换为可用于分析，理解和帮助任何企业的工具。应用企业融资提供了一个用户的角度来企业融资，提出了三个主要问题，每个企业都必须回答，然后提供工具和分析技术需要回答他们。这三个问题是：我们把资源投资在哪里？(The本书的第一部分着眼于如何评估风险，为公司制定风险预测，将风险预测转换为最低预期收益率，并制定在估计任何投资回报时需要遵循的基本规则。我们应该如何为这些投资提供资金？(The融资决策）公司通常可以使用债务、股权或两者的某种组合来为项目提供资金。本书的这一部分探讨了这种选择和用于分析项目的最低预期收益率之间的关系，并提出了融资决策可以用来最大化公司价值的方法。它还为任何公司选择正确的证券类型建立了一个框架。我们可以和应该归还多少现金给业主？(The股息决策）本书的第三部分建立了一个过程，可以用来决定应该从企业中取出多少现金，以及以什么形式-股息或股票回购。本书的最后一章将公司的价值与这三个决定联系起来，并提供了公司如何提高价值的见解。
总之，这是一本关于利用真实的公司的实时数据，为真实的问题提出真实的解决方案的书。
Convert Theory into Solutions: A Corporate Finance Reality Check
This hands-on guide to corporate finance focuses on converting the theory and models in corporate finance into tools that can be used to analyze, under stand and help any business. Applied Corporate Finance provides a user’s perspective to corporate finance, by posing the three major questions that every business has to answer, and then providing the tools and the analytical techniques needed to answer them. The three questions are- Where do we invest our resources? (The Investment Decision) The first part of the book looks at how to assess risk and develop a risk profile for a firm, convert this risk profile into a hurdle rate, and develops the basic rules that need to be followed in estimating the returns on any investment. How should we fund these investments? (The Financing Decision) Firms generally can use debt, equity or some combination of the two to fund projects. This part of the book examines the relationship between this choice and the hurdle rate to be used in analyzing projects, and presents ways in which the financing decision can be used to maximize firm value. It also sets up a framework for picking the right kind of security for any firm. How much cash can and should we return to the owners? (The Dividend Decision) The third part of the book establishes a process that can be used to decide how much cash should be taken out of the business, and in what form — dividends or stock buybacks. The final chapter in the book ties in the value of the firm to these three decisions, and provides insight into how firms can enhance value.
In summary, this is a book about coming up with real solutions to real problems, using real-time data on real companies.