LEADER 04303oam 22003975 450 001 9910744502603321 005 20240716212416.0 010 $a3-031-35009-X 024 7 $a10.1007/978-3-031-35009-2 035 $a(CKB)5670000000770239 035 $a(DE-He213)978-3-031-35009-2 035 $a(EXLCZ)995670000000770239 100 $a20230913d2023 uy 0 101 0 $aeng 135 $aurnn#008mamaa 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aCorporate finance for long-term value /$fDirk Schoenmaker, Willem Schramade 205 $a1st ed. 2023. 210 1$aCham :$cSpringer International Publishing :$cImprint: Springer,$d2023. 215 $a1 online resource (xxxix, 630 pages) $cillustrations (some color) 225 1 $aSpringer Texts in Business and Economics,$x2192-4341 311 0 $a3-031-35008-1 327 $aIntroduction -- 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. 330 $aThis open access textbook offers a guide to corporate finance for modern companies that want to create long-term value. Drawing on recent literature on sustainable companies, it starts by analysing the Sustainable Development Goals as a strategy for the transition to a sustainable economy. Next, it translates the general concept of sustainability into core corporate finance methods, such as net present value, company valuation, cost of capital, capital structure and M&A. Current corporate finance textbooks are primarily based on the shareholder model, designed to maximise financial value. This book instead adopts the integrated model, which argues that companies have to serve the interests of their current and future stakeholders. Accordingly, companies move from simply maximising financial value to optimising integrated value, which combines financial, social and environmental value. Applying this new paradigm of integrated value is the truly innovative feature of this textbook. Written for undergraduate and graduate students of Finance, Economics, and Business Administration, this textbook provides a fresh analysis of corporate finance. Combining theory, empirical data and examples from actual companies, it reveals the sustainability challenges for corporate investment and shows how finance can be used to steer funds to sustainable companies and projects and thus accelerate the transition to a sustainable economy. Dirk Schoenmaker and Willem Schramade have set the example: corporate finance teaching can be adapted to focus on sustainable finance without compromising on the rigour and fundamentals of the core finance curriculum. Social and environmental objectives deserve their role in business decisions, Corporate Finance for Long-Term Value brings it to the class room. - Arnoud Boot, Professor of Corporate Finance at University of Amsterdam. 410 0$aSpringer Texts in Business and Economics,$x2192-4341 606 $aCorporations$xFinance 615 0$aCorporations$xFinance. 676 $a658.15 700 $aSchoenmaker$b Dirk$f1967-$4aut$4http://id.loc.gov/vocabulary/relators/aut$0280313 702 $aSchramade$b Willem$4aut$4http://id.loc.gov/vocabulary/relators/aut 906 $aBOOK 912 $a9910744502603321 996 $aCorporate finance for long-term value$93596585 997 $aUNINA