This is a course material (slides in pdf format) for Financial Analysis and Control already in SSRN. In these slides I present a detailed explanation of different tools commonly used in financial management and specifically Working Capital Management. We introduce some examples in the slides and...

This is a course material (slides in pdf format) for Financial Analysis and Control already in SSRN. In these slides I present a detailed explanation of different measurements of leverage commonly used in financial management. We introduce some examples in the slides and they serve more as quick...

Estas son slides de notas de clase (en .pdf) del tema Analisis Financiero y control que se encuentra ya en SSRN. En estos slides se explica detalladamente los diferentes ratios financieros usados frecuentemete en administracion financiera. Introducimos algunos ejemplos y los slides sirven para...

This is a course material (slides in pdf format) for the chapter Financial Analysis and Control Financial Ratio Analysis already in SSRN. In these slides I present a detailed explanation of different financial ratios commonly used in financial management. We introduce some examples in the slides...

This is a course material (slides in pdf format) from the book 'Investment Decision Making For Firm and Project Valuation.' The book is originally in Spanish and is untitled as 'Decisiones de inversion. Para la valoracion financiera de proyectos y empresas.' Chapter 5 deals with how to prepare...

I present a set of conditions for defining risky debt associated to cash flow and not to accounting earnings. I explain why realization of tax shields for finite cash flows in any period of time t are correlated to Earnings before Interest and Taxes and are not correlated to interest expenses at...

In these slides we discuss the practical and conceptual difficulty of finding an Optimal Capital Structure. We propose a normative approach we call Implicit Bankruptcy Costs Theory and how to proceed to find the optimal capital structure and value with period-to-period constant and variable...

Muchos consultores, autores y profesores de Finanzas incluyen los cambios en losactivos liquidos (dividendos potenciales") en los flujos de caja. Esta practica escontraria a la teoria basica de las finanzas. Presentamos razones economicas, teoricas, yempiricas para apoyar la tesis. Por lo tanto,...

In cash flow valuation, on grounds of simplicity, it is common to assume that the leverage is constant over time. With constant leverage, the return to levered equity is constant and consequently, the Weighted Average Cost of Capital (WACC) applied to the Free Cash Flow is constant. However,...