Strategic Financial Management
Robert Alan Hill
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R.A. Hill
Strategic Financial Management
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Strategic Financial Management
1st edition
© 2008 R.A. Hill & bookboon.com
ISBN 978-87-7681-425-0
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Strategic Financial Management
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
The Investment and Finance Decision
14
1.4
Decision Structures and Corporate Governance
17
1.5
The Developing Finance Function
18
1.6
The Principles of Investment
22
1.7
Perfect Markets and the Separation Theorem
24
1.8
Summary and Conclusions
28
1.9
Selected References
29
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Strategic Financial Management
Contents
30
Part Two: The Investment Decision
2 Capital Budgeting Under Conditions Of Certainty
31
2.1
The Role of Capital Budgeting
32
2.2
Liquidity, Profitability and Present Value
33
2.3
The Internal Rate of Return (IRR)
39
2.4
The Inadequacies of IRR and the Case for NPV
40...