Contains the following chapters: 1-4, 6-10, 12 en 13.
The global credit crisis was a major event that shook the business world in 2007 and 2008. With the crisis in the back of our minds, it is essential for corporate managers to understand how to value investments accurately, choose the best funding mix for their operations, manage the risk of their short- and long-term capital, and satisfy the expectations of their investors.
1. What is Corporate Finance?
When starting a firm, one needs to make investments in assets such as inventory, machinery, and labor. Eventually, when selling the products you produce, the firm generates cash. In other words, the objective of a firm is to create value for the owner. This is the basis of value creation, which is explained in a simple balance sheet model of the firm (figure 1.1, p. 2).
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