Book description
Significantly revised and updated, this second edition of Financial Strategy is vital reading not only for MBA and advanced undergraduate students of Financial Strategy and Financial Management, but also for finance professionals.
The majority of articles and case studies in this 2nd edition of Financial Strategy are new and reflect the recent developments in financial strategy, which have added value to organisations and improved their performance.
Combining both finance and accounting articles and covering the public and private sectors, Financial Strategy addresses issues relevant to UK and US listed companies as well as an international audience.
Key themes addressed are:
Trends in finance theory
Adding value through investment, financing and risk management
Measuring performance
Corporate governance
Financial Strategy 2nd Edition is a Course Reader for The Open University Business School MBA Course: B821 Financial Strategy.
Table of contents
- Cover Page
- Preface
- Title Page
- Copyright
- Contents
- Introduction
- Section 1: Trends in Finance Theory
-
Section 2: Adding Value Through Investment
- SECTION OVERVIEW
- NOTES
- Chapter 3: Why Bad Projects Are So Hard to Kill
- Chapter 4: Realizing the Potential of Real Options
- CASE STUDY 3: Real Options
-
Chapter 5: Mergers, MNEs and Innovation
- 1. INTRODUCTION
- 2. RESEARCH ON MERGER PERFORMANCE
- 3. MICRO-MERGER SNAFUS: THE UNDERESTIMATED PROBLEM OF INTEGRATING TECHNOLOGIES
- 4. THE CONUNDRUM: PERFORMANCE SO POOR, DEALS SO MANY
- 5. THE NEED FOR AN EXPANDED RESEARCH AGENDA TO INCLUDE DEAL-MAKERS AND THE IMPACT OF MERGERS ON INNOVATION
- 6. SUMMARY AND CONCLUSION
- REFERENCES
- CASE STUDY 4: Why Most Cross-Border Deals End in Tears
-
Section 3: Adding Value through Financing
- SECTION OVERVIEW
- NOTES
- Chapter 6: The Capital Structure Puzzle
- Chapter 7: Disappearing Dividends
- Chapter 8: The Value of Share Buybacks
- CASE STUDY 5: Capital Ideas
- CASE STUDY 6: Death of the Dividend?
- CASE STUDY 7: Sciona: A Venture Capital Case Study
- Chapter 9: Initial Public Offerings
- CASE STUDY 8: Google Press Cuttings
-
Section 4: Adding Value through Risk Management
- SECTION OVERVIEW
- Chapter 10: Operating Exposure
-
Chapter 11: Currency Exchange Trading and Rogue Trader John Rusnak
- INTRODUCTION
- CURRENCY MARKETS
- EXCHANGE CONTRACTS
- SPOT EXCHANGE
- FORWARD EXCHANGE
- CURRENCY FUTURES AND SWAP TRANSACTIONS
- OPTIONS
- CURRENCY HEDGING
- TRADING STRATEGY OF JOHN RUSNAK
- BOGUS OPTIONS
- FALSIFIED DOCUMENTS
- PRIME BROKERAGE ACCOUNTS
- VALUE AT RISK CALCULATIONS
- SALE OF OPTIONS
- LOSSES REVEALED
- THE LUDWIG REPORT
- TECHNOLOGY
- ACCOUNTING PRACTICES
- CONCLUSION
- NOTES
- REFERENCES
- Chapter 12: Value at Risk
- Chapter 13: Learning to Live with Fixed Rate Mortgages
- Chapter 14: Credit Derivatives
- CASE STUDY 9: Journey to Junk
- CASE STUDY 10: Who Rates the Raters?
-
Section 5: Measuring Performance
- SECTION OVERVIEW
- NOTES
- Chapter 15: What can be Expected from Accounting Standards?
- CASE STUDY 11: Queens Moat Houses plc
- CASE STUDY 12: Learn by Numbers
- Chapter 16: A Star to Sail By?
- Chapter 17: EVA Implementation, Market Over-Reaction and the Theory of Low-Hanging Fruit
-
Chapter 18: Transforming the Balanced Scorecard from Performance Measurement to Strategic Management: Part I
- THE BALANCED SCORECARD EMERGES
- INTANGIBLE ASSETS: VALUATION VS. VALUE CREATION
- THE BALANCED SCORECARD SUPPLEMENTS CONVENTIONAL FINANCIAL REPORTING
- STRATEGY MAPS
- STAKEHOLDER AND KEY PERFORMANCE INDICATOR SCORECARDS
- APPLYING THE BSC TO NONPROFITS AND GOVERNMENT ORGANIZATIONS
- BEYOND MEASUREMENT TO MANAGEMENT
- NOTES
- REFERENCES
- Chapter 19: Performance Indicators
-
Section 6: Governance and Ethics
- SECTION OVERVIEW
-
Chapter 20: It's Time to Rebalance the Scorecard
- THE CORRECTIVE ACTIONS TAKEN SO FAR
- SOME CAUSES OF SUCH BEHAVIORS
- WHAT GETS MEASURED GETS DONE – ENTER THE BALANCED SCORECARD
- REBALANCING THE SCORECARD
- THE REBALANCING ACT
- WHAT ARE CORPORATIONS CURRENTLY DOING TO INCLUDE SOCIAL RESPONSIBILITY ISSUES ON THEIR SCORECARD?
- IMPLICATIONS AND CONCLUSIONS
- NOTES
- Chapter 21: Stakeholder Capitalism
- CASE STUDY 13: The State of Denial We're In
- Chapter 22: Controversy Incorporated
- CASE STUDY 14: An Interview with Microsoft's CFO
- CASE STUDY 15: Corporate Governance Failures: To What Extent is Parmalat a Particularly Italian Case?
- CASE STUDY 16: Companies Still Failing to Fill the Funding Gap
- Index
Product information
- Title: Financial Strategy, Second Edition
- Author(s):
- Release date: August 2006
- Publisher(s): Wiley
- ISBN: 9780470016558
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