Corporate finance : theory and practice / Pierre Vernimmen, Pascal Quiry, and Yann Le Fur.

Includes index.

Towards a green, responsible and sustainable corporate finance -- Section I. Financial analysis -- Part One. Fundamental concepts in financial analysis -- Cash flow -- Earnings -- Capital employed and invested capital -- Walking through from earnings to cash flow -- Getting to grips with consolidated accounts -- How to cope with the most complex points in financial accounts -- Part Two. Financial analysis and forecasting -- How to perform a financial analysis -- Margin analysis: structure -- Margin analysis: risks -- Working capital and capital expenditures -- Financing -- Return on capital employed and return on equity -- Conclusion of financial analysis -- Section II. Investors and markets -- Part One. Investment decision rules -- The financial markets -- The time value of money and net present value -- The internal rate of return -- Part Two. The risk of securities and the required rate of return -- Risk and return -- The required rate of return -- Part Three. Financial securities -- Bonds -- Other debt products -- Shares -- Options -- Hybrid securities -- Selling securities -- Section III. Value -- Value and corporate finance -- Measuring value creation -- Investment criteria -- The cost of capital -- Risk and investment analysis -- Valuation techniques -- Section IV. Corporate financial policies -- Part One. Capital structure policies -- Capital structure and the theory of perfect capital markets -- Capital structure, taxes and organisation theories -- Debt, equity and options theory -- Working out details: the design of the capital structure -- Part Two. Equity capital -- Returning cash to shareholders -- Distribution in practice: dividends and share buy-backs -- Share issues -- Part Three. Debt capital -- Implementing a debt policy -- Section V. Financial management -- Part One. Corporate governance and financial engineering -- Setting up a company and financing start-ups -- Shareholders -- Choosing a corporate structure -- Corporate governance -- Initial public offerings (IPOs) -- Taking control of a company -- Mergers and demergers -- Leveraged buyouts (LBOs) -- Bankruptcy and restructuring -- Part Two. Managing working capital, cash flows, financial risks and real estate -- Managing working capital -- Cash management -- Managing financial risks -- Managing operational real estate.

"Corporate Finance: Theory and Practice continues to hold sway as one of the most popular financial textbooks, thanks to its four unique features: A balanced blend of theory and practice: the authors hold academic positions at top ranking universities and business schools and are also investment bankers, private investors or sit on the boards of listed and unlisted companies. A presentation of concepts that explain situations, followed by a discussion of techniques in a direct and succinct style. Content enriched by the www.vernimmen.com website, which with 1,500 daily visitors is one of the leading finance teaching sites worldwide. Free monthly updates on finance through The Vernimmen.com Newsletter, with over 60,000 subscribers. This new edition is enhanced and expanded to reflect the ongoing paradigm shift in corporate finance brought about by sustainability, environmental and social concerns. All statistics and graphs are fully updated, the newest innovations in financial practice are discussed (such as the rise of private equity investment and the continuous decline in listed companies) and the latest financial theories are presented. The newest accounting standards are included (IFRS 16 on accounting for operating leases), and there is a new chapter dedicated to the financial organization of groups. The text will also account for the impact of Covid-19 on corporate finance, with greater emphasis on solvency and liquidity issues for companies."-- Provided by publisher.