Corporate Finance

Author: British Bankers' Association
Publisher:
Publish Date: 2003-01-01
Features: The Financial Risk Management Translation Series was meticulously planned and designed by the Royal Bankers' Society over two years. It was written by experienced professionals and senior training experts in relevant fields, and translated by outstanding domestic experts and scholars organized by the National Academy of Accounting. Corporate Finance is one of the books in the Financial Risk Management Translation Series, comprising four parts: Capital Structure, Leasing, Mergers and Acquisitions, and Risk Capital and Equity Acquisitions.
The "Capital Structure" section describes a company's financing needs and channels, analyzes the importance of maintaining a proper balance between cash surpluses, equity financing, and borrowing to ensure healthy growth, clarifies that managers must make decisions on appropriate capital structure based on the needs of different types of businesses, and explains the use of debt, equity, and hybrid financing instruments from the perspective of optimizing capital structure.
The "Leasing" section accurately defines leasing, covers the fields where leasing financing is obtained, and describes different forms of financial leasing. It distinguishes between financial leasing and operating leasing, outlining their respective applications. It also explains the tax differences in asset leasing across countries and the perspectives of lessees (asset financing) and lessors (profit-seeking).
The "Mergers and Acquisitions" section explains the reasons and processes behind corporate acquisitions or mergers, clearly distinguishing between the two terms. It extensively analyzes merger and acquisition strategies, elaborates on regulatory aspects such as termination of mergers, withdrawal of investments, and accounting issues.
The "Risk Capital and Equity Acquisitions" section outlines the nature of the risk capital industry and provides a detailed description of the application of this financing form—management buy-ins (MBOs) and management buyouts (MBOs). It analyzes how to combine various equity acquisition forms and how equity acquisitions can drive business growth.