Corporate finance for long-term value / Dirk Schoenmaker, Willem Schramade.
Schoenmaker, Dirk, author.; Schramade, Willem, author.
2023
HG4026
Available Online

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Title
Corporate finance for long-term value / Dirk Schoenmaker, Willem Schramade.
Author
Schoenmaker, Dirk, author.
ISBN
9783031350092 (electronic bk.)
303135009X (electronic bk.)
9783031350085
DOI
https://doi.org/10.1007/978-3-031-35009-2
Published
Cham : Springer, 2023.
Language
English
Description
1 online resource (xxxix, 630 pages) : illustrations (some color).
Item Number
10.1007/978-3-031-35009-2 doi
Call Number
HG4026
Dewey Decimal Classification
658.15
Summary
This open access textbook offers a guide to corporate finance for modern companies that want to create long-term value. Drawing on recent literature on sustainable companies, it starts by analysing the Sustainable Development Goals as a strategy for the transition to a sustainable economy. Next, it translates the general concept of sustainability into core corporate finance methods, such as net present value, company valuation, cost of capital, capital structure and M&A. Current corporate finance textbooks are primarily based on the shareholder model, designed to maximise financial value. This book instead adopts the integrated model, which argues that companies have to serve the interests of their current and future stakeholders. Accordingly, companies move from simply maximising financial value to optimising integrated value, which combines financial, social and environmental value. Applying this new paradigm of integrated value is the truly innovative feature of this textbook. Written for undergraduate and graduate students of Finance, Economics, and Business Administration, this textbook provides a fresh analysis of corporate finance. Combining theory, empirical data and examples from actual companies, it reveals the sustainability challenges for corporate investment and shows how finance can be used to steer funds to sustainable companies and projects and thus accelerate the transition to a sustainable economy. Dirk Schoenmaker and Willem Schramade have set the example: corporate finance teaching can be adapted to focus on sustainable finance without compromising on the rigour and fundamentals of the core finance curriculum. Social and environmental objectives deserve their role in business decisions, Corporate Finance for Long-Term Value brings it to the class room. - Arnoud Boot, Professor of Corporate Finance at University of Amsterdam.
Access Note
Open access.
Source of Description
Online resource; title from PDF title page (SpringerLink, viewed September 21, 2023).
Added Author
Schramade, Willem, author.
Series
Springer texts in business and economics, 2192-4341
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Introduction
Part 1: Why Corporate Finance for Long-term Value?
Chapter 1. The Company Within Social and Planetary Boundaries
Chapter 2. Integrated Value Creation
Chapter 3. Corporate Governance
Part 2: Discount Rates and Valuation Methods
Chapter 4. Discount Rates and the Scarcity of Capital
Chapter 5. Calculating Social and Environmental Value
Chapter 6. Investment Decision Rules
Chapter 7. Capital Budgeting
Part 3: Valuation of Companies
Chapter 8. Valuing Bonds
Chapter 9. Valuing Public Equity
Chapter 10. Valuing Private Equity
Chapter 11. Case-study Integrated Valuation: Inditex
Part 4: Risk, Return and Impact
Chapter 12. Risk-return Analysis
Chapter 13. Cost of Capital
Chapter 14. Capital Market Adaptability, Investor Behaviour and Impact
Part 5: Corporate Financial Policies
Chapter 15. Capital Structure
Chapter 16. Issues and Pay-outs
Chapter 17. Reporting and Investor Relations
Chapter 18. Mergers and Acquisitions
Chapter 19. Options on All Capitals.

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