Strategy, value and risk : a guide to advanced financial management / Jamie Rogers, Executive Director,Weston Group
- Rogers, Jamie
- Houndmills, Basingstoke, Hampshire : Palgrave Macmillan, 2013.
- Third Edition.
- Physical Description:
- xvii, 224 pages ; 24 cm.
- Machine generated contents note: The external environment -- Strategy, value and risk -- References -- pt. I The Evolution of Strategy, Value and Risk -- 1.Strategy -- 1.1.Innovation and the entrepreneur -- 1.2.The evolution of industry sectors -- 1.3.From corporate planning to shareholder value -- 1.4.Strategy and value -- Appendix -- classifying industry sectors today -- References -- 2.Value -- Overview -- 2.1.The accounting foundations -- 2.2.Stocks and flows -- 2.3.Ratio analysis -- 2.4.Investments -- 2.5.Firm value -- 2.6.Optimizing the firm structure -- Appendix -- modularity -- References -- 3.Risk -- 3.1.Investment risk -- 3.2.Why manage risk -- 3.3.Defining and measuring risk -- 3.4.The risk drivers -- 3.5.Value and risk -- References -- pt. II The Analysis of Performance and Investments -- 4.The Analysis of Performance -- 4.1.Valuation -- 4.2.Residual earnings -- 4.3.Free cash flows -- 4.4.Pro forma analysis -- References -- 5.The Analysis of Investments -- Introduction -- 5.1.Software -- 5.2.Energy -- 5.3.The pharmaceutical industry -- 5.4.A growth firm -- 5.5.Firm abandonment -- 5.6.The sale of corporate real estate assets -- References -- pt. III Quantitative Analytics and Methods -- 6.Data Analysis -- 6.1.Data and information -- 6.2.Time series analysis -- 6.3.Volatility -- 6.4.The lognormal distribution -- 6.5.Which volatility? -- References -- 7.Derivatives -- 7.1.Futures, forwards and options -- 7.2.The replicating portfolio and risk-neutral valuation -- References -- 8.Option Pricing Methods -- 8.1.A model for asset prices -- 8.2.The Black--Scholes formula -- 8.3.Numerical techniques -- References -- 9.Implementing Derivative Models -- 9.1.Spot price models -- 9.2.Forward curve models -- 9.3.Alternative real options methods -- 9.4.Model risk -- 9.5.Real options portfolios and complex payoffs -- Appendix -- parameter estimation for the Heston stochastic volatility model -- References -- 10.Conclusion and Practical Implications -- References.
- Strategy, Value and Risk: A Guide to Advanced Financial Management examines this issue within the context of innovation, the evolution of industry sectors, and financial analysis, corporate finance, quantitative finance and risk management concepts. The short-term is addressed within the context of financial statement analysis and forecasts, stocks and flows, and ROCE and ROIC ratios. The long-term is examined using investment analysis techniques that include advanced accounting, DCF, ENPV and real options, a corporate finance concept that applies financial options theory to real assets using quantitative and derivative methods. These techniques are applied to real assets within the context of strategy in case studies that cover corporate IT, energy, pharmaceutical drug development, climate-change and growth, media and abandonment, and commercial real estate to illustrate the concepts and issues. This 3rd Edition features new strategy and analysis of performance sections, and updated introduction, value, risk and case study sections, that together provides a framework to examine the interrelationships between strategy, value and risk.
- 9780230392670 (hbk.)
- Previous ed.: 2009.
- Bibliography Note:
- Includes bibliographical references and index.
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