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I M Pandey Financial Management Chapter 35 ppt

I M Pandey Financial Management Chapter 35 ppt

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Published by Rushabh Vora

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Published by: Rushabh Vora on Jun 02, 2012
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02/21/2013

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Chapter - 35
Shareholder Value andCorporate Governance
 
2Financial Management, Ninth Edition © I M PandeyVikas Publishing House Pvt. Ltd.
Chapter Objectives
Review the implications of financial theory forthe corporate finance policies.
Emphasise the need for a linkage betweenthe financial policies and strategicmanagement.
Explain the implications of sustainable growthmodel.
Focus on the shareholder value creation.
Develop a framework for the shareholdervalue analysis.
Discuss the concept of economic valueadded (EVA) and market value added (MVA).
 
3Financial Management, Ninth Edition © I M PandeyVikas Publishing House Pvt. Ltd.
Financial Goals and Strategy 
Two important tasks of the financial managerare:
allocation of funds (
viz.
investment decision) and
generation of funds (
viz.
financial decision).
The theory of finance makes two crucialassumptions to provide guidance to thefinancial manager in making these decisions.
The objective of the firm is to maximise the wealthof shareholders.
Capital markets are efficient.

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