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More copies of this ISBN:Applied Corporate Finance a Users Ma 2ND Editionby Aswath Damodaran
Synopses & ReviewsPublisher Comments:Convert theory into solutions Applied Corporate Finance, Second Editionconverts the theory and models in corporate finance into tools that can be used to analyze, understand, and help any business. With this hands-on guide, you can find real solutions to real corporate finance problems, using real-time data. Offering a user perspective to corporate finance, this text poses three major questions that every business has to answer, and provides the tools and the analytical techniques needed to answer these questions. 1. Where do we invest our resources? (The Investment Decision) The first part of the book shows how to assess risk and develop a risk profile for a firm, and convert this risk profile into a hurdle rate. You’ll also learn basic rules for estimating the returns on any investment. 2. 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 for analyzing projects, and shows how to use the financing decision to maximize firm value. You’ll also find a framework for picking the right kind of security for any firm. 3. How much cash can and should we return to the owners? (The Dividend Decision) The third part of the book establishes a process for deciding 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 the value of the firm to these three decisions, and provides insight into how firms can enhance value. Synopsis:The final chapter in the book ties the value of the firm to these three decisions, and provides insight into how firms can enhance value. Synopsis: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, understand and help any business. The second edition classifies all decisions made by any business into three groups: decisions on where to invest the resources or funds that the business has raised, decisions on where and how to raise funds to finance these investments, and decisions on how much and in what form to return funds back to the owners. All sections of the book are traceable to this framework. Also, four very different firms are used as examples throughout the text to illustrate the universality of corporate financial principles across different firms in different markets and across different types of decisions. About the AuthorASWATH DAMODARAN is an Associate Professor of Finance at New York University’s Leonard N. Stern School of Business. He has received several awards, including, the NYU Distinguished Teaching Award in 1990, Stern’s Outstanding Teacher Award in 1988, and the Professor of the Year Award in 1988, 1991, and 1992. He has written three books on equity valuation (Damodaran on Valuation, Investment Valuation, The Dark Side of Valuation) and two on corporate finance (Corporate Finance: Theory and Practice, Applied Corporate Finance: A User’s Manual). He has co-edited a book on investment management with Peter Bernstein (Investment Management) and has a book on investment philosophies (Investment Philosophies). His newest book titled Investment Fableswas released in 2004. Mr. Damodaran also offers training programs in corporate finance and valuation at Deutsche Bank, Swiss Bank, Credit Suisse, J. P. Morgan, and Smith Barney. A former instructor at the University of California at Berkeley, he has written several articles for many of the nation’s leading financial journals. He received his MBA and Ph.D from the University of California at Los Angeles. Table of ContentsChapter 1. The Foundations. Chapter 2. The Objective in Decision Making. Chapter 3. The Basics of Risk. Chapter 4. Risk Measurement and Hurdle Rates. Chapter 5. Measuring Return on Investment. Chapter 6. Project Interactions, Side Costs and Side Benefits. Chapter 7. Capital Structure: Overview of the Financing Decision. Chapter 8. Capital Structure: The Optimal Financing Mix. Chapter 9. Capital Structure: The Financing Details. Chapter 10. Dividend Policy. Chapter 11. Analyzing Cash Returned to Stockholders. Chapter 12. Valuation: Principles and Practice. Appendix 1: Basic Statistics. Appendix 2: Financial Statements. Appendix 3: Time Value of Money. Appendix 4: Option Pricing. Index.
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