Corporate Financial Strategy is a practical guide to understanding the elements of financial strategy, and how directors and advisors can add value by tailoring financial strategy to complement corporate strategy.

The book sets out appropriate financial strategies over the key milestones in a company’s life. It discusses the practicalities behind transactions such as:
* Raising venture capital
* Flotation on a stock exchange
* Making acquisitions
* Management buyouts
* Financial restructuring

In explaining financing structures, the book sets out the basic building blocks of any financial instrument to enable the reader to appreciate innovations in the field. It also illustrates how and why different types of security might be used.

The second edition of this textbook brings to bear the considerable commercial and academic experience of its co-authors. Throughout, the book offers a range of up-to-date case studies, abundant diagrams and figures, and frequent ’Working Insight’ sections to provide practical illumination of the theory.

This book will enable you to understand the potential value added by the best financial strategy, while fully demonstrating the working role of financial strategy within an overall corporate strategy. An excellent practical guide for senior financial managers, strategic-decision makers and qualified accountants, the text is also invaluable as a clear-sighted and thorough companion for students and senior executives on finance courses (including MBA, MSc and DMS).

* A practical and straightforward guide to financial strategy for practising managers
* Includes real company case studies and examples linking theory and practice
* Class tested on advanced MBA courses and executive programmes

TABLE OF CONTENTS

Preface to second edition
Preface to first edition

Part. 1 Putting Financial Strategy in Context
1 Corporate financial strategy: setting the context
2 What does the share price tell us?
3 Linking corporate and financial strategies

Part. 2 Financial Strategy and the Corporate Lifecycle
4 Start up business and venture capital
5 Growth companies: marketing focused
6 Mature companies - to divi or not?
7 Declining businesses - a case for euthanasia?

Part. 3 Financial Instruments
8 Financial instruments: the building blocks
9 Types of financial instrument
10 Dividends and buybacks

Part. 4 Transactions and Operating Issues
11 Floating a company
12 Acquisitions, mergers and selling a business
13 Restructuring a company
14 Management buyouts and other leveraged transactions
15 Strategic working capital management
16 Executive compensation
17 International corporate finance

App. 1 Review of theories of finance
App. 2 Valuing options and convertibles
Glossary of selected financial terms
Discount table: present value of [pound]1
Discount table: present value of [pound]1 received annually for N years
Black-Scholes value of a call option