The essential corporate finance text, updated with new data Pierre Vernimmen (deceased) Graduate of HEC and Harvard, was a founding member and first. A free monthly newsletter on Corporate Finance sent out to subscribers to the site . The book, the website and the. This textbook is designed for core courses in Corporate Finance taken by MBA, Masters in Finance and final year undergrads. It will also have a large market.
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Corporate Finance continues its legacy as one of the most popular financial textbooks, with well-established content from a diverse and highly respected author team. Vernimen in its features, this valuable text blends theory and practice with a direct, succinct style puerre commonsense presentation.
Readers will be introduced to concepts in a situational framework, followed by a detailed discussion of techniques and tools. This latest edition includes new information on venture finance and debt structuring, and has been updated throughout with the most recent statistical tables.
The companion website provides statistics, graphs, charts, articles, computer models, and classroom tools, and the free monthly newsletter keeps readers up to date on the latest happenings in the field. The authors have generously made themselves available for questions, promising an answer in seventy-two hours. Emphasizing how key concepts relate to real-world situations is what makes Corporate Finance a valuable reference with real relevance to the professional and student alike.
Readers will gain insight into the methods and tools that shape the industry, allowing them to:. As the corproate economy begins to recover, access to the most current information and statistics will be required.
Presentation of the book
To remain relevant in the evolving financial environment, practitioners will need a deep understanding of the mechanisms at work. Corporate Finance provides the expert guidance and detailed explanations for those requiring a strong foundational knowledge, as well as more advanced corporate finance professionals.
Theory and Practice continues to hold sway as one of the most popular financial textbooks available, thanks to its four unique features:. The authors draw on their dual experience to enhance and expand the content of this book through the tinance of new chapters on financing start-ups and implementing a vernimmsn policy.
Since then the different versions have accompanied me throughout my career and throughout the world. Not only was the alignment of the successive editions looking good in my different offices but I must confess I have opened and cherished each of them. After having spent just a xorporate weekends reading it, I felt better equipped for my role in financial management at Vernimnen. Now at Apax, the Vernimmen remains my companion in my search for value creation key in the private equity industry.
Its coverage of the market aspects of corporate finance distinguishes its content, but its treatment of all the material makes it essential reading for the student, financier or industrialist. The exposition is clear and concise and, most importantly, relies on commonsense reasoning pierrf. This is not a book with obscure formulae, yet is still rigorous and at the same time a model of clarity.
Corporate Finance: Theory and Practice by Pierre Vernimmen
Would you like to tell us about a lower price? If you are a seller for this product, would you like to suggest updates through seller support? Merging theory and practice into a comprehensive, highly-anticipated text Corporate Finance continues its legacy as one of the most popular financial textbooks, with well-established content from a diverse and highly respected author team.
Readers will gain insight into the methods and tools that shape the industry, allowing them to: Analyze investments with regard to hurdle rates, cash flows, side costs, and more Delve into the financing process and learn the tools and techniques of valuation Understand cash dividends and buybacks, spinoffs, and divestitures Explore the link between valuation and corporate finance As the global economy begins to recover, access to the most current information and statistics will be required.
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Customers who corpirate this item also viewed. Page 1 of 1 Start over Page 1 of 1. Customers who bought this vernommen also bought. The Legal Environment of Business: A Critical Thinking Approach 8th Edition. Theory and Practice continues to hold sway as one of the most popular financial textbooks available, thanks to its four unique features: A balanced blend of theory and practice: A presentation of concepts that explain situations, followed by a discussion of techniques in a direct and succinct style.
Content enriched by the www. Free monthly finance updates with The Vernimmen. Wiley; 4 edition November 17, Language: Start reading Corporate Finance: Theory and Practice on your Kindle in under a minute.
Don’t have corpoarte Kindle? Try the Kindle edition and experience these great reading features: Share your thoughts with other customers. Write a customer review.
Showing of 6 reviews. Top Reviews Most recent Top Reviews. There was a problem filtering reviews right now. Please try again later. Really helpful and extremely well explained. I corporatw a Business Administration graduate so I can’t say how easy it will be for someone without any economic background to understand its concepts but I can’t do anything but recommend it to everyone wanting to learn more about financial concepts.
One person found this helpful. Really good book for basic knowledge of finance. With test and exercices. This text is too weak at least in important topics like capital budgeting risk analysis and real options, vernimmmenMM propositions and portfolio theory.
The part on “scenario analysis and Monte Carlo simulation” took less than two pages, but the authors made a recommendation that is a big mistake: This is true only if the cash-flows were simulated with risk-neutral stochastic process i. Other example, the infantile critique on real options p. The perhaps best known RO article on internet firm valuation on Amazon. Other RO critique that I don’t agree is: Apparently, the authors don’t know that if you have data to estimate the risk-premium for the discount rate using CAPM concepts, for exampleyou can use the SAME time series to estimate volatility.
The popular approach to estimate this volatility is just a simple linear regression. There are much better textbooks available. Other good pierre alternatives are Ross et al mainly for financial decisions, agency, etc. The book’s called “Corporate Finance – Theory and Practice” and it is, corpodate my view, an excellent work for practitioners in the field. Unlike the other great tomes on the subject, it provides them with full explanations of the techniques involved, real time updates in a world of finance that is constantly changing, and an accounting environment undergoing a radical overhaul with the introduction of the new IFRS.
Comments that the book fails to provide an in-depth analysis of the Modigliani and Miller’s propositions and of portfolio theory don’t even bear mentioning. Criticising it for its weakness in capital budgeting using the real options method or the scenario analysis and Monte Carlo simulation is laughable from the point of view of the practitioner.
In fact, the whole market agrees that these methods are very difficult to put into practice. The real options method, vernimmmen example, is only applicable in two or three clearly identified sectors and is no substitute for traditional methods given the difficulties involved in determining its parameters for a real asset. Stating that the volatility of a real project can be calculated simply by historical regression of the same series of data used for calculating the parameters of the cost of capital, is not credible for at least two reasons: Similarly, estimating the convenience yield for a real asset, a fundamental parameter for the real options method, is far from easy and is clearly not based on the same data as those used for calculating the cost of capital.
In conclusion, I found this to be a very comprehensive work which will fully meet the expectations of practitioners, especially when combined with the regular updates on its website [ I have only read a few chapters on this book thus far, be cautious that this book is written from a European perspective not stated anywhere on the advertising page.
I won’t dismiss this book immediately because it’s written from a European perspective, however if you are looking to learn more about the US system, this may not be the book for you.
I will definitely recommend it to those who know their basics very well in the world of accounting and finance and are looking to bridge together their understanding of the both continents. Most of the principles are the same regardless where you live, just be cautious of some items, such as your cash GL account not being the first item under current assets but rather the last. What a great book! The book, newsletter, and website are all very interesting and useful. The book is 48 chapters about pages full of corporate finance.
I have to agree with the authors “It is corporae book in which theory and practice are constantly set off against each other Coorporate the emphasis not so much on techniques “which tend to shift and change over time.
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What other items do customers buy corporafe viewing this item? Theory and Practice Paperback. Pages with related products. See and discover other items: There’s a problem loading this menu right now.
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