Robert Alan Hill Strategic Financial Management Download free books at Download free eBooks at bookboon.com 2 R.A. Hill Strategic Financial Management Download free eBooks at bookboon.com 3 Strategic Financial Management 1 st edition © 2008 R.A. Hill & bookboon.com ISBN 978-87-7681-425-0 Download free eBooks at bookboon.com Click on the ad to read more Strategic Financial Management 4 Contents Contents About the Author 9 Part One: An Introduction 10 1 Finance – An Overview 11 1.1 Financial Objectives and Shareholder Wealth 11 1.2 Wealth Creation and Value Added 13 1.3 e Investment and Finance Decision 14 1.4 Decision Structures and Corporate Governance 17 1.5 e Developing Finance Function 18 1.6 e Principles of Investment 22 1.7 Perfect Markets and the Separation eorem 24 1.8 Summary and Conclusions 28 1.9 Selected References 29 www.sylvania.com We do not reinvent the wheel we reinvent light. Fascinating lighting offers an infinite spectrum of possibilities: Innovative technologies and new markets provide both opportunities and challenges. An environment in which your expertise is in high demand. Enjoy the supportive working atmosphere within our global group and benefit from international career paths. Implement sustainable ideas in close cooperation with other specialists and contribute to influencing our future. Come and join us in reinventing light every day. Light is OSRAM Download free eBooks at bookboon.com Click on the ad to read more Strategic Financial Management 5 Contents Part Two: e Investment Decision 30 2 Capital Budgeting Under Conditions Of Certainty 31 2.1 e Role of Capital Budgeting 32 2.2 Liquidity, Protability and Present Value 33 2.3 e Internal Rate of Return (IRR) 39 2.4 e Inadequacies of IRR and the Case for NPV 40 2.5 Summary and Conclusions 42 3 Capital Budgeting and the Case for NPV 43 3.1 Ranking and Acceptance Under IRR and NPV 44 3.2 e Incremental IRR 46 3.3 Capital Rationing, Project Divisibility and NPV 46 3.4 Relevant Cash Flows and Working Capital 47 3.5 Capital Budgeting and Taxation 49 3.6 NPV and Purchasing Power Risk 50 3.7 Summary and Conclusions 53 360° thinking . © Deloitte & Touche LLP and affiliated entities. Discover the truth at www.deloitte.ca/careers . Hill Strategic Financial Management Download free books at Download free eBooks at bookboon.com 2 R.A. Hill Strategic Financial Management Download free eBooks at bookboon.com 3 Strategic Financial. Financial Management 1 st edition © 2008 R.A. Hill & bookboon.com ISBN 978-87-7681-425-0 Download free eBooks at bookboon.com Click on the ad to read more Strategic Financial Management 4. day. Light is OSRAM Download free eBooks at bookboon.com Click on the ad to read more Strategic Financial Management 5 Contents Part Two: e Investment Decision 30 2 Capital Budgeting Under