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oapen-20.500.12657-767242023-10-14T02:45:13Z Corporate Finance for Long-Term Value Schoenmaker, Dirk Schramade, Willem SDGs Corporate Finance Sustainability Capital Budgeting Risk Analysis Corporate Valuation Net Present Value bic Book Industry Communication::K Economics, finance, business & management::KF Finance & accounting::KFF Finance::KFFH Corporate finance bic Book Industry Communication::K Economics, finance, business & management::KJ Business & management::KJG Business ethics & social responsibility bic Book Industry Communication::K Economics, finance, business & management::KF Finance & accounting::KFF Finance bic Book Industry Communication::K Economics, finance, business & management::KJ Business & management::KJM Management & management techniques This 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. 2023-10-13T15:43:38Z 2023-10-13T15:43:38Z 2023 book ONIX_20231013_9783031350092_15 9783031350092 9783031350085 https://library.oapen.org/handle/20.500.12657/76724 eng Springer Texts in Business and Economics application/pdf n/a 978-3-031-35009-2.pdf https://link.springer.com/978-3-031-35009-2 Springer Nature Springer International Publishing 10.1007/978-3-031-35009-2 10.1007/978-3-031-35009-2 6c6992af-b843-4f46-859c-f6e9998e40d5 969f0581-7337-44e1-bc9e-48a1806c14bc 9783031350092 9783031350085 Springer International Publishing 630 Cham [...] open access
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This 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.
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