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Hill R.A. Strategic Financial Management: Introduction & The Investment Decision: Part I

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Hill R.A. Strategic Financial Management: Introduction & The Investment Decision: Part I
BoBoCoAe – 2010, 63 pages
ISBN: 8776815707, 9788776815707
This book reviews the subject within the context of current events: the investment decision, which maximises net present value and shareholder wealth.
Each chapter contains activities (with solutions) to test understanding at your own pace.
Comprehensive, yet concise, the material is also presented logically as a guide to further study.
Part One: An Introduction
Finance – An Overview
Financial Objectives and Shareholder Wealth
Wealth Creation and Value Added
The Investment and Finance Decision
Decision Structures and Corporate Governance
The Developing Finance Function
The Principles of Investment
Perfect Markets and the Separation Theorem
Summary and Conclusions
Selected References
Part Two: The Investment Decision
Capital Budgeting Under Conditions of Certainty
The Role of Capital Budgeting
Liquidity, Profitability and Present Value
The Internal Rate of Return (IRR)
The Inadequacies of IRR and the Case for NPV
Summary and Conclusions
Capital Budgeting and the Case for NPV
Ranking and Acceptance Under IRR and NPV
The Incremental IRR
Capital Rationing, Project Divisibility and NPV
Relevant Cash Flows and Working Capital
Capital Budgeting and Taxation
NPV and Purchasing Power Risk
Summary and Conclusions
The Treatment of Uncertainty
Dysfunctional Risk Methodologies
Decision Trees, Sensitivity and Computers
Mean-Variance Methodology
Mean-Variance Analyses
The Mean-Variance Paradox
Certainty Equivalence and Investor Utility
Summary and Conclusions
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