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Author:   Federico Beltrame ,  Alex Sclip
Publisher:   Springer International Publishing AG
Imprint:   Palgrave Macmillan
Edition:   1st ed. 2023
Weight:   0.341kg
ISBN:  

9783031380884

ISBN 10:   3031380886
Pages:   139
Publication Date:   23 August 2023
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   Manufactured on demand  
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Table of Contents

Chapter 1: Corporate Financial Analysis 1.1. Introduction 1.2. The reclassification of the balance sheet 1.2.1 The reorganization of the balance sheet according to asset liquidity and liability maturity 1.2.2 The reorganization of the balance sheet by-function 1.2.3 In-depth analysis of NOWC monitoring and management 1.3. The income statement reorganization 1.3.1 The reorganization of the income statement as value-added 1.3.2 The reorganization of the income statement by the contribution margin 1.4. Ratio analysis 1.5 Cash flow statement analysis Appendix to Chapter 1 – A comprehensive financial analysis method Chapter 2: The financial and economic forecast 2.1 Introduction 2.2 Qualitative analysis 2.3 The traditional economic and financial forecast: from assumptions to estimation procedures 2.3.1 Assumptions 2.3.2 The estimation process to obtain a forecast budget 2.4 A different method to estimate forecast operating revenues 2.5 Conclusions Appendix to Chapter 2 – Drafting a forecast budget: combining new and classic approaches Chapter 3: The cost of capital for private businesses             3.1 Introduction 3.2 Private business evaluation: general points 3.3 The critical issues in calculating the cost of capital for private owned companies 3.3.1 First issue: “no market reference for equity and debt” 3.3.2 Second issue: “Consider specific risks when making the evaluation” 3.4 An alternative model to estimate the cost of capital of private corporations 3.4.1 The model basics 3.4.2 Estimating the unlevered cost of capital through a risk-neutral approach 3.4.3 The default probabilities for the model 3.4.4 The Loss Given Default (LGD) to be used in the model 3.5 Conclusions Appendix 1 to Chapter 3 – Steady-State and Steady-Growth evaluations Appendix 2 to Chapter 3 – Evaluation of an investment project Chapter 4: Business valuation through market multiples             4.1. Introduction 4.2. The key multiples 4.3. The evaluation process 4.4 The critical issues with comparabilities in the use of multiples 4.4.1 A conceptual outline 4.4.2 Adjustments by growth profile 4.4.3 Adjustments by debt level 4.4.3 Adjustments by growth rate and debt level 4.5 The issues relating to the calculation of the single multiple 4.6 Specific features of stock-market multiples 4.7 Using the multiples approach: final considerations Appendix to Chapter 4 –The unlevered value maps: an empirical evaluation Chapter 5: Conclusions - Putting all together for valuing a start - up             5.1. Introduction             5.2 Start-up capital structure, expected cash flows and cost of capital 5.3 Start – up valuation process 5.4 Focusing of the Venture Capital method 5.5 Conclusions

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Author Information

Federico Beltrame is Associate Professor in Corporate Finance in the Department of Economics and Statistics, University of Udine, where he teaches corporate finance. He graduated in Economics at the University of Udine, where he also received his Ph.D. in Business Science. His main research interests are related to SMEs’ cost of capital, banks’ capital structure and mutual guarantee credit institutions. Alex Sclip is Assistant Professor of Corporate Finance in the department of business administration of the University of Verona, where he teaches corporate finance at the undergraduate level and strategic finance at the graduate level. He has obtained his PhD from the University of Udine and has been visiting fellow at the Essex Business School (UK). His main research interests are in the field of empirical corporate finance and financial intermediation.

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