Strategic Financial Management: Part II

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PART ONE: THE FINANCE DECISION

1. Equity Valuation and the Cost of Capital
1.1 The Capitalisation Concept
1.2 Single-Period Dividend Valuation
1.3 Finite Dividend Valuation
1.4 General Dividend Valuation
1.5 Constant Dividend Valuation
1.6 The Dividend Yield and Corporate Cost of Equity
1.7 Dividend Growth and the Cost of Equity
1.8 Capital Growth and the Cost of Equity
1.9 Growth Estimates and the Cut-Off Rate
1.10 Earnings Valuation and the Cut-Off Rate
1.11 Summary and Conclusions
1.12 Selected References

2. Debt Valuation and the Cost of Capital
2.1 Capital Gearing (Leverage): An Introduction
2.2 The Value of Debt Capital and Capital Cost
2.3 The Tax-Deductibility of Debt
2.4 The Impact of Issue Costs
2.5 Summary and Conclusions

3. Capital Gearing and the Cost of Capital
3.1 The Weighted Average Cost of Capital (WACC)
3.2 WACC Assumptions
3.3 The Real-World Problems of WACC Estimation
3.4 Summary and Conclusions
3.5 Selected Reference

PART TWO: THE WEALTH DECISION

4. Shareholder Wealth and Value Added
4.1 The Concept of Economic Value Added (EVA)
4.2 The Concept of Market Value Added (MVA)
4.3 Profit and Cash Flow
4.4 EVA and Periodic MVA
4.5 NPV Maximisation, Value Added and Wealth
4.6 Summary and Conclusions
4.7 Selected References

With an eclectic record of University teaching, research, publication, consultancy and curricula development, underpinned by running a successful business, Alan has been a member of national academic validation bodies and held senior external examinerships and lectureships at both undergraduate and postgraduate level in the UK and abroad.

With increasing demand for global e-learning, his attention is now focussed on the free provision of a financial textbook series, underpinned by a critique of contemporary capital market theory in volatile markets, published by bookboon.com.

To contact Alan, please visit Robert Alan Hill at www.linkedin.com.