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Financial Management of Family Businesses : Transparency - Compliance - Performance - Strategy - Governance

Zellweger, Thomas (ed.); Ohle, Patricio (ed.) - 2023

transparency and compliance, from performance and strategy to governance - and provide concrete suggestions for everyday business … transparency: the fbxperts view -- Part 3: compliance - a "must" to avoid risks -- Internal control system also for family … -- Cyber attacks - company risk no.1 - underestimated by many -- Compliance is a must: the fbxperts view -- Part 4: performance …

Persistent link: https://www.econbiz.de/10014444022

The CFOs Information Challenge in Managing Macroeconomic Risk

Oxelheim, Lars; Wihlborg, Clas; Thorsheim, Marcus - 2010

In this chapter we examine the role of the CFO in setting risk management strategy with respect to macroeconomic risk, in particular, and we consider the information requirements for setting a strategy that is consistent with corporate objectives. We argue that macroeconomic risk management...

Persistent link: https://www.econbiz.de/10010320231

The CFO's information challenge in managing macroeconomic risk

Oxelheim, Lars; Wihlborg, Clas; Thorsheim, Marcus - 2010

Persistent link: https://www.econbiz.de/10008654170

Two Fundamental Principles for Cash Flow Valuation (CFV)

Tham, Joseph - 2019

In this note, we discuss two fundamental principles for Cash Flow Valuation (CFV). We hope that adherence to these two principles will improve the practice of CFV. These principles are general, relatively uncontroversial, and should be acceptable as starting points for cash flow valuation....

Persistent link: https://www.econbiz.de/10012871063

The Impact of SME's Pre-Bankruptcy Financial Distress on Earnings Management Tools

Campa, Domenico - 2017

Previous literature finds that situations that put managers under significant levels of pressure (e.g. IPO, upcoming credit rating changes, violation of debt covenant, etc.) might affect the way earnings are manipulated. The aim of this study is to investigate whether the pressure caused by the...

Persistent link: https://www.econbiz.de/10012971450

What is a real measure of corporate liquidity

Ertugrul, Melik; Coskun, Ali - In: International journal of management and economics 57 (2021) 1, pp. 3-13

The financial health hypothesis argues that the valuation multiple of book value of equity (earnings) increases (decreases) as financial health decreases. By considering the liquidity dimension of financial health, we analyze an accrual-based liquidity ratio (current ratio) and a cash-based...

Persistent link: https://www.econbiz.de/10012519019

The most common error in valuations using WACC

Fernández, Pablo - 2020

To value shares there are two usual methods that, if properly applied, provide the same value: 1/ Present value of expected free cash flows (FCF) discounted with the WACC rate and then, subtract the value of debt; and 2/ Present value of expected equity cash flows (ECF) discounted with the Ke...

Persistent link: https://www.econbiz.de/10012704170

A wrong valuation using WACC and the right solution

Fernández, Pablo - 2020

This paper presents a real valuation performed by a well-known investment bank, with two common errors and with two very different values for the equity of a firm:a) €6,9 million calculating the Present Value of expected free cash flows (FCF) discounted with the WACC rate and then, subtracting...

Persistent link: https://www.econbiz.de/10012704176

Net Income, Cash Flows, Reduced Balance Sheet and WCR (Working Capital Requirements)

Fernandez, Pablo - 2019

The net income of a company in a given year is an arbitrary number which depends on several decisions on the accounting of expenses and revenues. By contrast, each cash flow (money going out of the cash of the company into someone's pocket: shareholders, debt owners...) is a single number not...

Persistent link: https://www.econbiz.de/10012903900

The CFO’s Information Challenge in Managing Macroeconomic Risk

Oxelheim, Lars - 2013

In this paper we examine the role of the CFO in setting risk management strategy with respect to macroeconomic risk, in particular, and we consider the information requirements for setting a strategy that is consistent with corporate objectives. We argue that macroeconomic risk management...

Persistent link: https://www.econbiz.de/10013094394