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The intension is to supplement renowned corporate

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Unformatted text preview: ster or MBA level. The intension is to supplement renowned corporate finance textbooks such as Brealey, Myers and Allen's "Corporate Finance", Damodaran's "Corporate Finance - Theory and Practice", and Ross, Westerfield and Jordan's "Corporate Finance Fundamentals". The compendium is designed such that it follows the structure of a typical corporate finance course. Throughout the compendium theory is supplemented with examples and illustrations. Download free ebooks at bookboon.com 8 Corporate Finance The objective of the firm 2. The objective of the firm Corporate Finance is about decisions made by corporations. Not all businesses are organized as corporations. Corporations have three distinct characteristics: 1. Corporations are legal entities, i.e. legally distinct from it owners and pay their own taxes 2. Corporations have limited liability, which means that shareholders can only loose their initial investment in case of bankruptcy 3. Corporations have separated ownership and control as owners are rarely managing the firm The objective of the firm is to maximize shareholder value...
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