STRATEGIC FINANCIAL MANAGEMENT
Objective: to enlighten the students with the Concepts and Practical applications of Strategic Financial Management., with particular reference to the financial strategy and value of the enterprise.
Unit-1: Financial Goals and Strategy – Shareholder Value Creation (SCV): Market Value Added (MVA) – Market-to-Book Value (M/BV) – Economic Value Added (EVA) – Managerial Implications of Shareholder Value Creation.
Unit-II: Financial Strategy for Capital Structure: Leverage Effect and Shareholders’ Risk –Capital Structure Planning and Policy – Financial Options and Value of the Firm – Dividend Policy and Value of the Firm.
Unit-III: Investment Strategy – Techniques of Investment Appraisal Under Risk and Uncertainty – Risk Adjusted Net Present Value – Risk Adjusted Internal Rate of Return – Capital Rationing –
Decision Tree Approach for Investment Decisions – Evaluation of Lease Vs Borrowing Decision.
Unit-IV: Merger Strategy – Theories of Mergers – Horizontal and Conglomerate Mergers – Merger Procedure – Valuation of Firm – Financial Impact of Merger – Merge and Dilution Effect on Earnings Per Share – Merger and Dilution Effect on Business Control.
Unit-V: Takeover Strategy – Types of Takeovers – Negotiated and Hostile Bids – Takeover Procedure – Takeover Defenses – Takeover Regulations of SEBI – Distress Restructuring Strategy – Sell offs – Spin Offs – Leveraged Buyouts.
(Case Studies are Compulsory)
Suggested Books:
Van Horn, JC, Financial Management and Policy, Prentice Hall,New Delhi
PG Godbole, Mergers, Acquisitions and Corporate Restructuring, Vikas, New Delhi
Weaver, Strategic Corporate Finance, Cengage, ND
Weston JF, Chung KS & Heag SE., Mergers, Restructuring & Corporate Control, Prentice Hall.
GP Jakarthiya, Strategic Financial Management, Vikas, New Delhi
Coopers & Lybrand, Strategic Financial: Risk Management, Universities Press (India) Ltd.
Robicheck, A, and Myers, S., Optimal Financing Decisions, Prentice Hall Inc.
James T.Gleason, RiskL The New Management Imperative in Finance, A Jaico Book.
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