The objective of this book is to help an individual (or a family) design a personal investment strategy. It explains how stock markets can be used to make a large fortune from a small investment. It also recommends an approach to increase a reasonable return on investment and explains the...

There is a great deal of confusion regarding the factors that led to Enron's collapse. This important book addresses this problem by providing a coherent explanation of the accounting and finance problems associated with the collapse. The Skilling-Lay trial, as it is related to accounting or...

Wibaut and Wilford (Journal of Applied Finance, 2009) argue that owning both the equity and the debt of the same firm is suboptimal. Playing a different game, I argue that buying the debt and equity of the same firm may be an optimal strategy aimed at delivering the firms that have issued more...

This book introduces corporate financial management, based on the basic capital budgeting framework and the time value of money. It focuses on theoretical formulations and correct application of financial techniques that will help improve managerial and financial decisions. Based on fundamental...

In August of 2005, Carl C. Icahn announced to the press that he wanted Time Warner to spinoff (or more accurately to sell) its cable unit and then to repurchase $20 billion of its stock. The Icahn group owned less than 3 percent of Time Warner's outstanding stock (about 122,000,000 shares)....

On November 1, 2004, Judge S.R. Underhill ruled in favor of a subsidiary of General Electric Corporation in a tax case involving events that took place from 1993-1998 when Jack Welch was Chairman of GE's Board. The important issue is whether a corporation can ethically exploit features of the...

There is need for changed rules protecting shareholders from arbitrary decisions that require that they sell when they would rather hold in a MBO (managerial buyout). A conflict of interests occurs when a private equity firm and the top management of a firm decide that the firm's stock equity...