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Corporate Financial Distress: A Study of the Italian Manufacturing Industry (SpringerBriefs in Finance)
by Matteo Pozzoli Francesco PaoloneThis book explores methods and techniques to predict and eventually prevent financial distress in corporations. It analyzes the effects of the global financial crisis on Italian manufacturing companies and, more specifically, whether the crisis has increased the number of firms that are likely to fail. In the first chapter, the authors widely discuss the Corporate Financial Distress as well as the process and costs incurred. The second chapter is based on a review of the most used statistical models, splitting them into accounting-based and market-based models. The following chapter is dedicated to the methodology and the empirical analysis on Italian manufacturing companies from different industries. The last chapter presents practical evidence from Italian manufacturing companies during the recent financial crisis.
Corporate Financial Distress: Restructuring and Turnaround
by Alberto TronFinancial distress in corporations is a frequent phenomenon, particularly during times of national and international economic crises; but this can be used as an opportunity and incentive to implement a systematic process of reorganization and revitalization of a business. These plans for recovery can lead to future successes and sustainability rather than just a fix to ensure survival of the business. Crises, if managed promptly from a strategic point of view, can lead to pragmatic changes and bring new value to the company, avoiding market foreclosure and the negative social consequences. Corporate Financial Distress, Restructuring and Turnaround identifies a recovery plan, monitoring, deployment and provides tools to direct economic crises towards financial success in the future and financial stability in the short term. An analysis scheme has been developed and is provided to help measure economic, financial and strategic performance with the why, how and what in relation to the recovery plan. A model for the detection and evaluation of the economic-financial performance implemented by an execution of a recovery plan and a set of indicators for evaluating the variables activated by the process of strategic change are identified. Tron uses alert analysis perspective to examine crises and recovery in business to outline discontinuity with the past in order to address strategic organizational changes and lead the financial process of rehabilitation towards success.
Corporate Financial Distress: Restructuring and Turnaround
by Alberto TronFinancial distress in corporations is a frequent phenomenon, particularly during times of national and international economic crises; but this can be used as an opportunity and incentive to implement a systematic process of reorganization and revitalization of a business. These plans for recovery can lead to future successes and sustainability rather than just a fix to ensure survival of the business. Crises, if managed promptly from a strategic point of view, can lead to pragmatic changes and bring new value to the company, avoiding market foreclosure and the negative social consequences. Corporate Financial Distress, Restructuring and Turnaround identifies a recovery plan, monitoring, deployment and provides tools to direct economic crises towards financial success in the future and financial stability in the short term. An analysis scheme has been developed and is provided to help measure economic, financial and strategic performance with the why, how and what in relation to the recovery plan. A model for the detection and evaluation of the economic-financial performance implemented by an execution of a recovery plan and a set of indicators for evaluating the variables activated by the process of strategic change are identified. Tron uses alert analysis perspective to examine crises and recovery in business to outline discontinuity with the past in order to address strategic organizational changes and lead the financial process of rehabilitation towards success.
Corporate Financial Distress, Restructuring, and Bankruptcy: Analyze Leveraged Finance, Distressed Debt, and Bankruptcy (Wiley Finance)
by Edward I. Altman Edith Hotchkiss Wei WangA comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.
Corporate Financial Distress, Restructuring, and Bankruptcy: Analyze Leveraged Finance, Distressed Debt, and Bankruptcy (Wiley Finance)
by Edward I. Altman Edith Hotchkiss Wei WangA comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.
Corporate Financial Management (PDF)
by Glen ArnoldExplore how finance theory works in practice with Corporate Financial Management, 5th edition. Find out how financial decisions are made within a firm, how projects are appraised to make investment decisions, how to evaluate risk and return, where to raise finance from and how, ultimately, to create value. Need extra support? This title is supported by MyFinanceLab, an online homework and tutorial system which can be used by students for self-directed study or instructors can choose to fully integrate this eLearning technology into the delivery of their course. Students can benefit from access to MyFinanceLab by purchasing an alternative 'pack' version of this product called Corporate Financial Management with MyFinanceLab access card, 5e or online at www. myfinancelab. com
Corporate Financial Reporting: Theory and Practice (PDF)
by Andrew Higson`This is a book which should be read by all students, whether undergraduate and postgraduate. It also provides a succinct guide for the manager who wishes to come to grips with this topic, or the accountant nostalgic to recollect the non too praiseworthy and indecisive history of this topic' - Managerial Auditing Journal. Corporate Financial Reporting critically examines contemporary corporate financial reporting. The complexity of the reporting process and the myriad of issues facing the directors, accountants and auditors can only be successfully understood from a firm conceptual base. Recent financial scandals clearly highlight the interrelationships between all the themes explored in this book, from financial reporting to auditing, from management's motivations to fraud. Special features of this book include: A critical examination of accounting 'theory' Senior practitioners' insights on 'a true and fair view' An exploration of 'the financial reporting expectations gap' A discussion of the nature of 'corporate performance' An examination of corporate fraud An examination of the implications of 'real-time' reporting by companies Discussion questions at the end of each chapter. The book will be relevant to advanced undergraduate as well as postgraduate and MBA students.
Corporate Financial Reporting: Theory and Practice
by Dr Andrew W Higson`This is a book which should be read by all students, whether undergraduate and postgraduate. It also provides a succinct guide for the manager who wishes to come to grips with this topic, or the accountant nostalgic to recollect the non too praiseworthy and indecisive history of this topic' - Managerial Auditing Journal Corporate Financial Reporting critically examines contemporary corporate financial reporting. The complexity of the reporting process and the myriad of issues facing the directors, accountants and auditors can only be successfully understood from a firm conceptual base. Recent financial scandals clearly highlight the interrelationships between all the themes explored in this book, from financial reporting to auditing, from management's motivations to fraud. Special features of this book include: - A critical examination of accounting 'theory' - Senior practitioners' insights on 'a true and fair view' - An exploration of 'the financial reporting expectations gap' - A discussion of the nature of 'corporate performance' - An examination of corporate fraud - An examination of the implications of 'real-time' reporting by companies - Discussion questions at the end of each chapter The book will be relevant to advanced undergraduate as well as postgraduate and MBA students.
Corporate Financial Reporting: Theory and Practice
by Dr Andrew W Higson`This is a book which should be read by all students, whether undergraduate and postgraduate. It also provides a succinct guide for the manager who wishes to come to grips with this topic, or the accountant nostalgic to recollect the non too praiseworthy and indecisive history of this topic' - Managerial Auditing Journal Corporate Financial Reporting critically examines contemporary corporate financial reporting. The complexity of the reporting process and the myriad of issues facing the directors, accountants and auditors can only be successfully understood from a firm conceptual base. Recent financial scandals clearly highlight the interrelationships between all the themes explored in this book, from financial reporting to auditing, from management's motivations to fraud. Special features of this book include: - A critical examination of accounting 'theory' - Senior practitioners' insights on 'a true and fair view' - An exploration of 'the financial reporting expectations gap' - A discussion of the nature of 'corporate performance' - An examination of corporate fraud - An examination of the implications of 'real-time' reporting by companies - Discussion questions at the end of each chapter The book will be relevant to advanced undergraduate as well as postgraduate and MBA students.
Corporate Financial Reporting
by Roger Hussey Audra OngThis engaging new book takes a refreshing approach to the subject of intermediate level financial accounting. As well as presenting the standards clearly, with global, real-life examples, it examines the debates surrounding them and analysis of their requirements. In addition to this it also considers the user's perspective, as well as the preparer's, where relevant, helping students to appreciate the implications of the information to the business. A wealth of examples will allow students to check their understanding of the material, and to prepare for professional exams.
Corporate Financial Reporting and Analysis
by David Young Jacob CohenCorporate Financial Reporting and Analysis: A Global Perspective/3e by David Young and Jacob Cohen is an introductory textbook on financial reporting for MBA students. This book is intended to offer the rigor and comprehensive coverage required of an MBA text, while at the same time offering an accessible and practical reference for participants in executive programs. David Young is based at INSEAD Business School in France, and Jacob Cohen is based at MIT Sloan School of Management in the USA. This book offers a rigorous, yet accessible, treatment of contemporary financial reporting practice. Examples are drawn from a broad range of companies to illustrate key concepts. Particular emphasis is given to the latitude and flexibility granted to managers in reporting financial performance, and the steps that financial statement readers can take to identify potential trouble areas in the accounts. Topics include the analysis and interpretation of the three principal financial statements, revenue recognition, inventory accounting, receivables and bad debts, accounting for long-term assets, provisions and contingencies, income taxes, and the accounting for mergers and acquisitions. A unique feature of this book is the seamless way in which it deals with differences in U.S. GAAP and IFRS. Both regimes are covered simultaneously, i.e. when a topic is discussed, including the relevant journal entries and disclosures, the discussion applies equally to GAAP companies and to IFRS companies. It doesn’t matter whether the company used in a given example is from the U.S., Europe, or elsewhere. Thanks to the ongoing GAAP/IFRS convergence project, the two regimes are close enough to allow for a somewhat generic approach that allows for coverage of both regimes at the same time. In this way, the examples that are covered in the book are relevant to all readers, regardless of which regime dominates in their business environment. The content of this book has been classroom tested over the past 20 years at INSEAD with the MBA class which has students from 80 different countries.
Corporate Financial Reporting and Analysis: A Global Perspective
by S. David Young Jacob Cohen Daniel A. BensCorporate Financial Reporting Analysis combines comprehensive coverage and a rigorous approach to modern financial reporting with a readable and accessible style. Merging traditional principles of corporate finance and accepted reporting practices with current models enable the reader to develop essential interpretation and analysis skills, while the emphasis on real-world practicality and methodology provides seamless coverage of both GAAP and IFRS requirements for enhanced global relevance. Two decades of classroom testing among INSEAD MBA students has honed this text to provide the clearest, most comprehensive model for financial statement interpretation and analysis; a concise, logically organized pedagogical framework includes problems, discussion questions, and real-world case studies that illustrate applications and current practices, and in-depth examination of key topics clarifies complex concepts and builds professional intuition. With insightful coverage of revenue recognition, inventory accounting, receivables, long-term assets, M&A, income taxes, and other principle topics, this book provides both education and ongoing reference for MBA students.
Corporate Financial Reporting and Analysis: A Global Perspective
by S. David Young Jacob Cohen Daniel A. BensCorporate Financial Reporting Analysis combines comprehensive coverage and a rigorous approach to modern financial reporting with a readable and accessible style. Merging traditional principles of corporate finance and accepted reporting practices with current models enable the reader to develop essential interpretation and analysis skills, while the emphasis on real-world practicality and methodology provides seamless coverage of both GAAP and IFRS requirements for enhanced global relevance. Two decades of classroom testing among INSEAD MBA students has honed this text to provide the clearest, most comprehensive model for financial statement interpretation and analysis; a concise, logically organized pedagogical framework includes problems, discussion questions, and real-world case studies that illustrate applications and current practices, and in-depth examination of key topics clarifies complex concepts and builds professional intuition. With insightful coverage of revenue recognition, inventory accounting, receivables, long-term assets, M&A, income taxes, and other principle topics, this book provides both education and ongoing reference for MBA students.
Corporate Financial Reporting and Analysis in the early 1900s (Routledge Library Editions: Accounting)
by Richard P. BriefFirst published in 2014. Routledge is an imprint of Taylor & Francis, an informa company.
Corporate Financial Reporting and Analysis in the early 1900s: Accounting: Corporate Financial Reporting And Analysis In The Early 1900s (Routledge Library Editions: Accounting)
by Richard P. BriefFirst published in 2014. Routledge is an imprint of Taylor & Francis, an informa company.
Corporate Financial Reporting and Performance: A New Approach
by Önder Kaymaz Özgür Kaymaz A. R. SayarGlobalization and the accompanying investment facilities available have resulted in rapid popularity for international financial reporting standards (IFRS). However, differences often exist in terms of what firms report, and once inconsistency between tax regulations and financial reporting regulations occur, differences between taxable and accounting practices are inevitable. This book introduces a new approach to corporate financial reporting by investigating goal incongruence (GING) in the context of the principal and agent (PA) setting. The authors argue that improving the method for the disclosure of information would not only increase the quality of corporate financial information and reporting but also reduce the possibility of any GING arising. This book presents the financial implications of international accounting and financial reporting standards (IAS and IFRS), presenting numerous real-life situations, cases, examples and implications to reveal how GING might influence the implementation of corporate financial reporting of profit volumes and sizes, which are the leading drivers of and widely accepted proxies for corporate financial performance.
Corporate Financial Reporting in a Competitive Economy (Routledge Library Editions: Accounting)
by Herman W. BevisThis book is concerned with the financial accounting and reporting of publicly owned corporations to their shareholders. It examines the origins of financial accounting and reporting, external influences on accounting and reporting practices as well as the measurement process.
Corporate Financial Reporting in a Competitive Economy (Routledge Library Editions: Accounting)
by Herman W. BevisThis book is concerned with the financial accounting and reporting of publicly owned corporations to their shareholders. It examines the origins of financial accounting and reporting, external influences on accounting and reporting practices as well as the measurement process.
Corporate Financial Reporting (PDF)
by Roger Hussey Audra OngThis engaging new book takes a refreshing approach to the subject of intermediate level financial accounting. As well as presenting the standards clearly, with global, real-life examples, it examines the debates surrounding them and analysis of their requirements. In addition to this it also considers the user's perspective, as well as the preparer's, where relevant, helping students to appreciate the implications of the information to the business. A wealth of examples will allow students to check their understanding of the material, and to prepare for professional exams.
Corporate Financial Resilience: Empirical Evidence from the United States (SpringerBriefs in Finance)
by Mascha Steenblock Matthias Daniel Aepli Michael TrübesteinThis research presents a rigorous investigation of US companies' financial resilience within the S&P 500 index from the year 2000 onward. The book focuses on the process of a company's bounce back to pre-crisis levels after a disturbance, exploring resilience measured through recovery duration and various financial performance indicators. The study analyzes three significant crises faced by the US during this period - the dotcom crisis, the global financial crisis, and the pandemic crisis. Through applied cox hazard regression and panel regression, the book reveals valuable empirical insights on factors impacting corporate financial resilience, sector-specific crisis effects, and essential considerations when interpreting the results. Investors, corporations, and researchers alike will find this data-driven resource a paramount asset in navigating the complexities of financial markets and fortifying corporate financial resilience for a prosperous future.
Corporate Financial Risk Management: A Computer-based Guide for Nonspecialists
by Roy NersesianWhat if you could understand financial risk management without immersing yourself in high-level mathematics? In this straightforward, readable guide—which requires only a working familiarity with financial spreadsheets—Nersesian explains what financial risk management is, describes its various forms, and shows how to anticipate and cope with it. Nersesian's approach is truly new. He combines cost/benefit analysis with probability distributions, so you can easily grasp the concepts and mechanics of financial risk reduction, and his examples are expressed in familiar business terminology.His illustrations, built on the widespread and popular Excel spreadsheet, are equally familiar or easily grasped by computer-friendly novices. As a result, Nersesian shows that risk management can be appreciated and dealt with by people with no access to risk management specialists, or specialists whose jargon and analytic methods are seldom understood by anyone but themselves.
Corporate Financial Services in Wales 1989
by J. Carr G. BricaultWales is being transformed from a country dependent upon heavy industries to one of the most exciting regions of Western Europe. It is attracting a diversity of activity in terms of both inward investment and a whole range of new indigenous business. Wales has had an increasing amount of inward investment. Countries like Japan, the United States and Western Germany recognise the high quality of the workforce, the good communications, the good financial package offered by a positive regional policy and the enthusiasm of local government and trade unions welcome them. Wales is at last being recognised as the ideal location for service industries. The urban redevelopment of Cardiff, the enormous developments in cities like Swansea and Newport create a location for service industries of the highest quality at low cost. Wales provides office accomodation at a fraction of the cost in the South East of England, but with the latest buildings and the latest in telecommunication technology. There is certainly a welcome in Wales and I hope all of those who read this directory, indicating as it does the growth that has already taken place, will themselves make the appropriate enquiries: • see where they can locate an office, • see what are the facilities for a good quality labour force, • study the good communications be they road, rail or telecommunications. Anybody that does this will certainly conclude that Wales is the place to be. Rt. Han. Peter Walker, MBE.
Corporate Financial Strategy
by Ruth BenderThe field of Corporate Finance has developed into a fairly complex one from its origins focussed on a company's business and financial needs (financing, risk management, capitalization and budgeting). Corporate Financial Strategy provides a critical introduction to the field and in doing so shows how organizations' financial strategies can be aligned with their overall business strategies. Retaining the popular fundamentals of previous editions, the new edition brings things up to date with an array of new examples and cases, new pedagogical features such as learning objectives and suggested further reading, and includes new material on mergers and acquisitions, and valuations and forecasting. Unlike other textbooks, Ruth Bender writes from the perspective of the firm rather than the investor. Combined with a structure driven by issues, the result is a textbook which is perfectly suited to those studying corporate finance and financial strategy at advanced undergraduate, postgraduate and executive education levels.
Corporate Financial Strategy
by Ruth BenderThe field of Corporate Finance has developed into a fairly complex one from its origins focussed on a company's business and financial needs (financing, risk management, capitalization and budgeting). Corporate Financial Strategy provides a critical introduction to the field and in doing so shows how organizations' financial strategies can be aligned with their overall business strategies. Retaining the popular fundamentals of previous editions, the new edition brings things up to date with an array of new examples and cases, new pedagogical features such as learning objectives and suggested further reading, and includes new material on mergers and acquisitions, and valuations and forecasting. Unlike other textbooks, Ruth Bender writes from the perspective of the firm rather than the investor. Combined with a structure driven by issues, the result is a textbook which is perfectly suited to those studying corporate finance and financial strategy at advanced undergraduate, postgraduate and executive education levels.
Corporate Financial Strategy
by Ruth Bender Keith WardCorporate Financial Strategy is a practical guide to understanding the elements of financial strategy, and how directors and advisors can add value by tailoring financial strategy to complement corporate strategy.The book sets out appropriate financial strategies over the key milestones in a company's life. It discusses the practicalities behind transactions such as:* Raising venture capital* Flotation on a stock exchange* Making acquisitions* Management buyouts* Financial restructuringIn explaining financing structures, the book sets out the basic building blocks of any financial instrument to enable the reader to appreciate innovations in the field. It also illustrates how and why different types of security might be used.The second edition of this very popular textbook brings to bear the considerable commercial and academic experience of its co-authors. Throughout, the book offers a range of up-to-date case studies, abundant diagrams and figures, and frequent 'Working Insight' sections to provide practical illumination of the theory.This book will enable you to understand the potential value added by the best financial strategy, while fully demonstrating the working role of financial strategy within an overall corporate strategy. An excellent practical guide for senior financial managers, strategic-decision makers and qualified accountants, the text is also invaluable as a clear-sighted and thorough companion for students and senior executives on finance courses (including MBA, MSc and DMS).