Corporate Finance for Long-Term Value

Dirk Schoenmaker is a Professor of Banking and Finance at Rotterdam School of Management, Erasmus University, and Director of the Erasmus Platform for Sustainable Value Creation. He is a Research Fellow at CEPR and leads CEPR’s Research and Policy Network on Sustainable Finance. His research covers the fields of sustainable finance, central banking, financial supervision and European banking. Before joining RSM, Dirk worked at the Bank of England and the Dutch Ministry of Finance. Dirk is (co-)author of Principles of Sustainable Finance (OUP), Financial Markets and Institutions: A European Perspective (CUP) and Governance of International Banking: The Financial Trilemma (OUP).Willem Schramadeis Head of Sustainability Client Advisory at Schroders, Professor of Finance at Nyenrode Business University, and Fellow of the Erasmus Platform for Sustainable Value Creation at Rotterdam School of Management, Erasmus University. Before joining Schroders, Willem worked as an independent consultant, advising financial institutions and corporations on sustainablefinance. Previously, he worked as a portfolio manager for listed impact equities at NN Investment Partners, and he held positions at Robeco, General Electric, PwC and Erasmus University, where he obtained his PhD in finance in 2006. Willem publishes about sustainablefinance in scientific journals and teaches sustainable finance at Nyenrode Business University and Erasmus University. His academic textbook Principles of Sustainable Finance (co-authored with Dirk Schoenmaker) was published by Oxford University Press in 2019.

• Introduction.- Part 1: Why Corporate Finance for Long-term Value?.- Chapter 1. The Company Within Social and Planetary Boundaries.- Chapter 2. Integrated Value Creation.- Chapter 3. Corporate Governance.- Part 2: Discount Rates and Valuation Methods.- Chapter 4. Discount Rates and the Scarcity of Capital.- Chapter 5. Calculating Social and Environmental Value.- Chapter 6. Investment Decision Rules.- Chapter 7. Capital Budgeting.- Part 3: Valuation of Companies.- Chapter 8. Valuing Bonds.- Chapter 9. Valuing Public Equity.- Chapter 10. Valuing Private Equity.- Chapter 11. Case-study Integrated Valuation: Inditex.- Part 4: Risk, Return and Impact.- Chapter 12. Risk-return Analysis.- Chapter 13. Cost of Capital.- Chapter 14. Capital Market Adaptability, Investor Behaviour and Impact.- Part 5: Corporate Financial Policies.- Chapter 15. Capital Structure.- Chapter 16. Issues and Pay-outs.- Chapter 17. Reporting and Investor Relations.- Chapter 18. Mergers and Acquisitions.- Chapter 19. Options on All Capitals.