A thoroughly researched Corporate Finance manual, the fruit of all the understanding the author has gained in this material over his years of professional practice. A rigorous approach to fundamental Ideas, avoiding unnecessary complications Highly convenient for those who: -Already know about these matters, but they would like to refresh them and keep a book for consulting by their side (financial managers, consultants, engineers, business & MBA students, etc). -Need to master financial concepts in order to enhance their professional or academic performance -Want to really know what their money & investments are worth. Here is the rationale.. The author deals with all questions clearly, pragmatically, allowing the readers intuition to guide them forward. However, he never sacrifices his rigorous analysis, necessary to meet the standards of the best business schools in the world. He includes some case studies which show how the key concepts are applied. In the Core chapters, written in an accessible style, the book presents the fundamentals it is necessary to master in order to understand corporate finance and its typical applications such as the valuation of companies and investments in general. The author leads us through questions like the cost of financial resources for the company, shareholders' equity and external funds and the w.a.c.c, the search for the optimum capital structure and the strategic policies that ensure an adequate financial policy To explain all this, the analysis counts on solid tools and knowledge, which have been applied through the Gordon-Shapiro formula, the CAPM (Capital Asset Pricing Model) or the Modigliani and Miller model, among others. Suitable for beginners too: The first chapter starts at a basic level for inexpert readers and then moves into the key matters of corporate finance that it is necessary to master. This chapter deals with basic questions on the discounting and capitalization of different cashflows, methods for NPV (Net present Value), IRR (internal Rate of Return), Pay-back, etc. and the reasoning behind all of them. The book explains how to deal correctly with inflation when making any analysis. The author has explained the basic concepts in some exercises so that the reader can master them before moving on to more complex issues. There is also an Appendix on the value over time of money, a correct valuation of different structures of bonds and other basic financial concepts and some key basic exercises. The final part of the book explores the valuation of companies, applying all that the reader has learnt up to now. The author also brings together all the themes worked on and enriches them with a great deal of his experience and practical advice, reason why this book is such a useful tool for those who have to make investment decisions.

Manual de Finanzas Corporativas de alto nivel fruto de la recopilacion sobre estos temas durante anos de ejercicio de la profesion. Un enfoque riguroso a los conceptos fundamentales, evitando complicaciones innecesarias. El primer capitulo arranca desde un nivel basico para lectores NO INICIADOS y se adentra poco a poco en los asuntos clave de las finanzas corporativas que es preciso dominar. Se abordan cuestiones basicas como los metodos del NPV (Net present Value), IRR (internal Rate of Return), Pay-back, etc. y el racional de todos ellos, y se explica como tratar de forma correcta la inflacion al afrontar cualquier analisis. Hay algunos ejercicios resueltos sobre conceptos basicos para que el lector se familiarice con ellos antes de continuar. En los siguientes capitulos, el libro presenta, de modo accesible, los fundamentos que es preciso dominar para desempenarse con soltura y solvencia en financiacion corporativa y sus aplicaciones tipicas como la valoracion de empresas, la gestion de la estructura financiera y las inversiones en general. Se enfrenta a cuestiones como la determinacion del coste de los recursos financieros para la empresa (propios, ajenos y el waacc), la busqueda de la estructura optima de capital y que directrices estrategicas se pueden establecer para una adecuada politica financiera. Para ello se exponen con rigor herramientas y conocimientos y la forma de aplicarlas como la formula de Gordon-Shapiro, el CAPM (Capital Asset Pricing Model) o la proposicion de Modigliani & Miller, entre otros. En la parte final se refiere a la valoracion de empresas, materia donde se aplica, en mayor o menor grado, todo lo anterior, pero donde se presenta ademas una importante organizacion de conceptos y una gran dosis de experiencia y consejos practicos que haran de este libro una util herramienta para "practitioners" Se anade un apendice, al final, en el que se repasan algunos conceptos basicos sobre el valor inter-temporal del dinero, la adecuada valoracion de distintas estructuras de bonos, el descuento y capitalizacion de flujos de fondos y tambien algunos ejercicios practicos sobre estas materias, lo que resultara util al lector menos experimentado y al que necesita refrescar la memoria. Todas las cuestiones se abordan de un modo claro, pragmatico e intuitivo, pero con gran rigor y al nivel de las mejores escuelas de negocios del mundo. Incluye algunos casos resumidos para los reincidir sobre la aplicacion de los conceptos clave.