goals and dreams in life tend to be happier as they know what to look forward to. As important as it is to have a vision of one’s future‚ it’s not enough. One needs to test it realistically and have a plan for getting there. A Masters of Science in Finance degree is a part of my plan to achieve my goals of attaining an in-depth knowledge of the financial markets and working towards securing a job in investment banking. Post graduation‚ in the short term my focus would be on securing a job as
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develop decision-making ability based on Corporate Finance theory. Hence‚ it combines lectures with case analysis. The course and the cases deal with selected topics in Corporate Finance such as valuation‚ capital budgeting‚ cost of capital‚ mergers and acquisitions‚ capital structure policy‚ and warrant and convertible use and valuation. The purpose of the cases is not to introduce these topics‚ but to further examine the theoretical concepts and models of finance and how they can be applied to reasonably
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main objective underlying corporate financial decisions is to maximise the value of the company‚ which in turn maximises shareholder wealth. This involves the optimal use of scarce resources. Fisher’s Separation theorem formally links the concepts covered in the chapter to provide a single decision rule for a firm’s investment decisions. This decision rule is that management’s role is to maximise the present value of the firm’s investments in productive assets. Corporate managers face three important
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Industry Methodology Factor Grid Appendix B: Methodology GridIndicated Ratings Appendix C: Observations and Outliers for Grid Mapping Appendix D: Chemical Industry Overview Appendix E: Key Rating Issues over the Intermediate Term 1 3 5 8 Corporate Finance December 2009 Moody’s Global Global Chemical Industry Summary This rating methodology explains Moody’s approach to assessing credit risk for global chemical companies. This document replaces a previous publication from February 2006
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CONCEPT OF PRESENT VALUE SO IMPORTANT FOR CORPORATE FINANCE? The importance of concept of present value to the world of corporate finance is that present value calculations are widely used in business and economics to provide a means to compare cash flows at different times. Present Value’s definition and simplistic formula used for normal purchases‚ the concept’s importance to corporate finance and why present value is the very first topic taught in finance classes explain that present value is an
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MANAGEMENT OF BUSINESS FINANCE- “Financial Managers need only concentrate on meeting the needs of shareholders - no other group matters” Discuss the above statement using practical examples to support you answer. Contents Page Introduction 1-2 Formulas: Profitability 2-3 Liquidity 4-5 Investment 5-6 Summary of Widgets Finical Ratios: Profitability 6-8 Liquidity 8-9 Investment 9-10 Conclusion 10 Bibliography 11 Appendix 1
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The Journal of Finance‚ 57(1)‚ 1–32. Barberis‚ N. & Thaler‚ R. (2002). A Survey of Behavioral Finance. The National Bureau of Economic Research‚ working paper no Berger‚ P.‚ Ofek‚ E.‚ Yermack‚ D.‚ 1997. Managerial entrenchment and capital structure decisions Bhattacharya‚ S. (1988). Corporate finance and the legacy of Miller and Modigliani. Journal of Economic Perspectives 2‚ 135- 148. Brennan‚ M. & Kraus‚ A. (1987). Efficient financing under information asymmetry. Journal of Finance 42‚ 1225-1243
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industries. According to Brealey and Myers (1988)‚ the capital structure will determine the survival of a business. Damodaran (2001) defined capital structure as the mix of debt and equity used to finance the operation of firms. Capital structure is closed link with corporate performance (Tian and Zeitun‚ 2007). Corporate performance can be measured by variables which involve productivity‚ profitability‚ growth or‚ customers satisfaction. Companies often use debt when constructing their capital structure‚
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emerging markets often rely on informal sources of capital‚ such as borrowing from relatives‚ to meet finance needs. However‚ when a small or medium enterprise does access formal channels‚ it typically looks to a bank as its primary source of financial services. Banks have begun to turn their attention toward this untapped market and their service of SMEs is a major factor in increasing SME access to finance. Although‚ numerous issues surface when it comes to SME lending‚ banks‚ by employing a range of
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ACQUIRING AND TARGET COMPANIES INTRODUCTION While it is understood through several researches that targets companies’ shareholders realize stock market gains with acquisition announcement‚ a significant number of studies have found that corporate acquisition generates negative returns for the shareholders of the acquiring company. Baines‚ (1978)‚ Firth‚ (1980) Harris‚ (1989)‚ Limmack (1991)‚ Ellot‚ (1993)‚ Limmack‚ (1996). This research proposal will undertake the empirical investigation
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