Corporate Finance: Theory & Practice: Theory and Practice - Softcover

Vernimmen, Pierre; Quiry, Pascal; Maurizio Dallocchio; Yann Le Fur; Antonio Salvi

Softcover

ISBN 10: 0470092254 ISBN 13: 9780470092255

Publisher: John Wiley & Sons, 2005

Synopsis

Corporate Finance: Theory and Practice covers the theory and practice of Corporate Finance from a truly European perspective.  It shows how to use financial theory to solve practical problems and is written for students of corporate finance and financial analysis and practising corporate financiers.  Corporate Finance is split into four sections and covers the basics of financial analysis; the basic theoretical knowledge that you will need to value a firm; the major types of financial securities: equity, debt & options and finally financial management which shows you how to organise a company’s equity capital, buying and selling companies, M&A, bankruptcy and cash flow management.

 Key features include:

• A section on financial analysis – a Corporate Financier must understand a company based on a detailed analysis of its accounts.  Large numbers neglected this approach during the last stock market bubble and were caught in the crash that inevitably followed.  How many investors took the trouble to read Enron’s annual report?  Those who did found that it spoke volumes!
• End of Chapter Summary, Questions and Answers, Glossary, European Case Studies

• A supporting Website http://www.vernimmen.com with free access to statistics, a glossary & lexicon; articles, notes on financial transactions, basic financial figures for more than 10,000 European and US listed companies, thesis topics, a bibliography; case studies, Q&A; A letter box for your questions to the authors – a reply guaranteed within 72 hours!
• A free monthly newsletter on Corporate Finance sent out to subscribers to the site.
• The book, the website www.vernimmen.com and the Vernimmen.com newsletter are all written and created by an author team who are both investment bankers/corporate financiers and academics.

  "Impressive book for finance professionals – Probably the best recently published Corporate Finance book with a truly European emphasis. The balance between theory and practice makes this book an excellent tool for Investment Bankers and other finance professionals, as it covers both basic as well as more sophisticated topics. Particularly impressive is their commitment to continuously updating material, as well as the regular publication of a newsletter containing timely articles on various current finance topics. The possibility of asking questions to the authors and effectively receiving in–depth answers for free is a very valuable feature. I sincerely recommend this text." Amazon.co.uk 31 October 2005

  "An excellent book for all business students – For a few months already, the Vernimmen.com website had been helping me for my finance class, as well as the monthly newsletter. I finally bought the book, and I have not been disappointed: the style is clear, very practical ; theories are mixed with real cases, which makes them easy to understand. Valuation techniques are well explained (discounted cash flow methods, methods based on ratios). Fundamental concepts (accounting, finance, financial markets) are recalled in the first part; when more complex concepts are tackled (investment analysis, LBOs, capital structure...), they are explained with lots of simplicity and conciseness.
  I recommend this book for every student in Management or Finance!"
  Amazon.co.uk 30 July 2005
  
  

About this title

From the Back Cover

This book covers the theory and practice of Corporate Finance from a truly European perspective.  It shows how to use financial theory to solve practical problems and is written for students of corporate finance and financial analysis and practising Corporate Financiers. Corporate Finance is split into four sections and covers the basics of financial analysis; the basic theoretical knowledge that you will need to value a firm; the major types of financial securities – equity, debt & options, and finally financial management which shows you how to organise a company’s equity capital, buying and selling companies, M&A, bankruptcy and cash flow management.

Key features include:

• A section on financial analysis – a Corporate Financier must understand a company based on a detailed analysis of its accounts.  Large numbers neglected this approach during the last stock market bubble and were caught in the crash that inevitably followed.  How many investors took the trouble to read Enron’s annual report? Those who did found that it spoke volumes!
• End of chapter summaries, questions and answers, European case studies and a glossary.
• A supporting website with free access to statistics; a glossary and lexicon; articles; notes on financial transactions; basic financial figures for more than 10,000 European and US listed companies; thesis topics; a bibliography; case studies; Q&A, and a letter box for your questions to the authors.
• A free monthly newsletter on Corporate Finance sent out to subscribers to the site.

Understanding Corporate Finance is key to successful company management. From a banker’s point of view, a good understanding of Corporate Finance is crucial to assist a company. The Vernimmen, written for Europeans by Europeans is a most useful reference for the student as well as the practitioner. The style of the book is concise, yet every conceivable aspect of Corporate Finance is covered. Complemented by an exhaustive website containing summaries of key concepts, of formulae, and of financial statements from a wide range of companies, the Vernimmen is a must. Michael Rockinger, Professor of Finance, Director of the Institute of Banking and Finance, HEC & FAME, University of Lausanne, Switzerland

This book was the first finance book I read as a student in my twenties. I read it again in my thirties to review some of the key finance challenges I was facing in my professional life. Now, in my forties, I am reviewing it once more to compare the reality I have to face now in Asia, with the most advanced financial concepts. I have never been disappointed and have always been able to find the appropriate answer to my questions, as well as food for thought. I am sure my children will read it when I am in my fifties, as Vernimmen is not just another book on finance: this is finance as a life experiment.

I strongly recommend this book to all the corporate managers facing new questions or challenges in their professional lives, especially in an international multi–currency context.

You do not need to be a finance expert to enjoy reading it, as it’s really easy to understand, with enough explanations, concrete examples¼and humour, to help you jump successfully into the most sophisticated theories. But if you are an expert, you will also find food for thought, as its methodological bases are strong enough to satisfy the most demanding CFO. Jean–Michel Moutin, CFO, Louis Vuitton Asia Pacific–Japan

This book efficiently bridges financial theory and practice, and encapsulates everything a Corporate Finance banker will ever need to know and understand. It is obvious that the authors are passionate about finance, and their enthusiasm is contagious. Written in an easy and accessible style, this book deserves to become a reference work. Jan Zarzycki, Director, Equity Capital Markets, Deutsche Bank

This book is unique – one of the ultimate study and reference guides for European financiers from students to CFOs. The French–language versions of the Vernimmen have been for me some of the most helpful and trusted companions throughout my professional career. Dan Arendt, Corporate Finance partner at Deloitte in Luxembourg

I’m glad to hear that Vernimmen’s unique book on finance is now available for English–speaking readers. I have known this excellent book for many years, which all professionals can easily use when they need to go back to the basics of modern corporate finance. Smartly written, thorough, lively, and regularly updated. I strongly recommend it to everyone from the debutant in finance to high–level experts. Learning with Vernimmen is a real pleasure.  Antoine Giscard d’Estaing, CFO of Schneider Electric, Paris, France

Vernimmen’s Corporate Finance, long overdue in English, is an outstandingly clear and complete manual, a wonderful merger of practice and theory. Its coverage of the market aspects of corporate finance and of European practices distinguishes its content, but its treatment of all the material makes it essential reading for the student, financier or industrialist.  Howard Jones, Fellow in Finance at the Saïd Business School, Oxford University, UK

 

About the Author

Pascal Quiry is an adjunct finance teacher in the leading French business school HEC Paris, and a managing director at BNP Paribas Corporate Finance, specialising in M&A transactions for listed companies.

Maurizio Dallocchio is the current Dean of the leading Italian business school Bocconi (Milan) and Lehman Brothers chair of Corporate Finance. He is also a board member of several listed and unlisted companies and is one of the most distinguished Italian authorities on finance.

Yann Le Fur is a corporate finance teacher at HEC Paris business school and an investment banker with Mediobanca in Paris (after several years with Schroders and Citigroup).

Antonio Salvi is an Assistant Professor of Finance at Bocconi and the University of Venice where he teaches corporate finance. His areas of research cover cost of capital, structure of debt finance and corporate governance.

Pierre Vernimmen who died in 1996, was both an M&A dealmaker (he advised Louis Vuitton on its merger with Moët Henessy to create LVMH, the world luxury goods leader) and a finance teacher at HEC Paris. His book, Finance d’Entreprise, was and still is the top selling financial textbook in French speaking countries and is the forebear of Corporate Finance: Theory and European Practice.

About this edition

• Publisher: John Wiley & Sons
• Publication date: 2005
• ISBN 10: 0470092254
• ISBN 13: 9780470092255
• Binding: Paperback
• Number of pages: 1056