CORPORATE FINANCE - NEW CHALLENGES

ISBN: 978-83-64614-65-1

364 stron
format: B5
oprawa: miękka
Rok wydania: 2022

In recent years, turbulent changes in the business environment have taken place. This is not just a coronavirus issue. There are many other contributory factors that I have been writing about for many years, causing the global economy to become increasingly unstable. These are huge challenges for science and business practice. However, there are few people who notice these other factors, aside from the problem of coronavirus. (...)
from Introduction

SPIS TREŚCI

INTRODUCTION

CHAPTER 1. FINANCIAL MANAGEMENT FUNCTIONS
1.1. The nature and purpose of financial management
1.2. Finance and Accounting
1.3. Financial objectives and their relationship with corporate strategy
1.4. Stakeholders and their impact on corporate objectives
1.5. Value for shareholders or stakeholders
- the problem of corporate social responsibility
1.6. Financial and other objectives in not-for-profit organisations
1.7. The financial management of the company
1.8. Basic legal forms of enterprises

CHAPTER 2. FINANCIAL MANAGEMENT ENVIRONMENT
2.1. Financial markets
2.2. Securities
2.3. The financial leverage
2.4. Interest rates
2.5. Changes in the conditions of enterprise activity
2.6. The growing importance of stock exchanges
2.7. An increasingly unstable world and the challenges arising from it
2.8. The growing indebtedness of countries and enterprises
2.9. Inflation increases as a result of incorrect monetary
and fiscal policy

CHAPTER 3. FINANCIAL STATEMENTS AS A MAIN SOURCE OF INFORMATION
3.1. Accounting as a main source of financial information
3.2. The structure of a financial statement
3.3. The Balance Sheet
3.4. The Income Statement
3.5. The statement of changes in financial position [the cash flow statement)
3.6. Practical use of Financial Statements
3.7. Instability of the capital market and the availability
and reliability of information

CHAPTER 4. FINANCIAL ANALYSIS OF THE COMPANY PERFORMANCE
4.1. The concept of financial analysis
4.2. Methods of financial analysis
4.3. Ratio analysis of financial statements
4.4. Ratio analysis madę by different users of financial statements

CHAPTER 5. THE EFFICIENCY OF THE COMPANY - PROFITABILITY AND SOLYENCY
5.1. Accounting profit and economic profit
5.2. Profit and its functions
5.3. Types of financial results in the company
5.4. The division of the company‘s financial result - dividend payment

CHAPTER 6. THE EXPENSES OF THE COMPANY
6.1. The expenses, costs, and expenditures
6.2. Costs classifications
6.3. Break-even analysis
6.4. Operating leverage

CHAPTER 7. RISK AND VOLATILITY
7.1. Risk identifying and measurement
7.2. Volatility as a measure of risk
7.3. Instability versus volatility and risk
7.4. Risk management
7.5. Capital Asset Pricing Model - CAPM
7.6. Causes of exchange ratę differences and interest rates fluctuations
7.7. Hedging techniques for foreign currency risk and interest rate risk

CHAPTER 8. SOURCES OF CAPITAL
8.1. Basic methods of companies‘ financing
8.2. The cost of capital as a parameter of the enterprise‘s financial decisions
8.3. Specific forms of enterprise financing
8.4. Financing of smali- and medium-sized entities [SMEs]
8.5. Venture capital as a form of SME financing

CHAPTER 9. CAPITAL BUDGETING - FINANCIAL AND PROPERTY INVESTMENTS
9.1. Changes in the value of money over time
9.2. The classification of enterprise investment
9.3. Methods for assessing the effectiveness of investment projects

CHAPTER 10. WORKING CAPITAL MANAGEMENT
10.1. Working capital financing - money conversion cycle
10.2. Determining the needs for working capital
10.3. Sources of short-term financing

CHAPTER 11. PLANNING IN THE ENTERPRISE
11.1. The importance of planning
11.2. Types of plans
11.3. Budgeting as a part of the planning process
11.4. Planning and budgeting in unstable times

CHAPTER 12. ESTIMATING CORPORATE VALUE
12.1. Nature and purpose of the valuation of business and financial assets
12.2. Models for the valuation of businesses
12.3. Property valuation methods - asset-based valuation
12.4. The enterprise goodwill valuation
12.5. Income methods
12.6. Models based on dividends‘ capitalisation
12.7. Valuation of bonds
12.8. Valuation of stocks
12.9. Comparative (Market] Methods
12.10. Mixed Method
12.11. Factors influencing the value of the enterprise
12.12. Difficulties, misunderstandings, errors, and manipulations in the valuations
12.13. The enterprise valuation under conditions of increasing instability

CHAPTER13. EFFICIENT MARKET HYPOTHESIS (EMH) AND PRACTICAL CONSIDERATIONS IN THE VALUATION OF SHARES

SUMMARY

BIBLIOGRAPHY