Pierre Vernimmen Corporate Finance Pdf
Jesper Sahu
The newly revised Sixth Edition of Corporate Finance: Theory and Practice delivers a uniquely European perspective on the foundations and latest trends in corporate finance, including the marked shifts brought about by sustainability, environmental, and social concerns.
Containing updated statistics and graphs, the book covers the latest innovations in financial practice, like the rise of private equity investment, the continuous decline in listed companies, and the dramatic surge of sustainability-linked financing products. Readers get access to an accompanying website that offers regularly updated statistics, graphs, and charts, direct email access to the authors, quizzes, case studies, articles, and more.
Pierre Vernimmen (deceased) Graduate of HEC and Harvard, was a founding member and first coordinator of the Finance Department at HEC, where he established himself as a leading academic in the field of corporate finance. In 1973 he joined Paribas, initially as a private equity banker, moving onto the advisory business line (M&A, privatisations, financial restructurings) which he set up and managed from 1993 until his death in 1996.
Pascal Quiry (Paris, France) holds the BNP Paribas Chair in Finance at HEC Paris and he is a founder of an investment fund which specialises in investing in start-ups and unlisted SMEs. He is a former managing director in the M&A division of BNP Paribas where he was in charge of deals execution.
Yann Le Fur (Paris, France) is an Affiliated Professor at HEC Paris Business School and a senior banker for Natixis after working as an investment banker for a number of years, notably with Schroders, Citi and Mediobanca and as an M&A director for Alstom.
"What sets the Vernimmen apart from other textbooks is its integration of practice and current affairs in a rigorous theoretical framework. Recipes and pontification are replaced by a scientific approach. And, thanks to the Newsletter, this is done practically in real time!"
"I always use the paper edition of the Vernimmen, which is clear and comprehensive, as a reference tool. The site is well designed, always up-to-date and also extremely useful for explaining financial concepts simply and intelligently to non-financial colleagues."
"Corporate Finance is a very useful reference book for students and practitioners, it will help both to understand the principles of the financial markets and their practical application in today's complex environment. The book's approach is both logical and sequential and presents some interesting cases that make study easier and more stimulating."
"Vernimmen provided people like me who were new to the world corporate finance a perfect mix of theory and practical examples to help them develop long lasting financial concepts. The book is a written manual for finance, explaining the fundamentals in a very thought provoking way, making it intriguing to delve into the complexities. This book is a must have in your personal library as you will refer back to it even after years."
The "Vernimmen" is the perfect reference corporate finance book. I used it in my classes, looked back into it during my internships, use it again now to deep dive into corporate finance for my thesis and know I will keep interacting with it later in my career.
"Vernimmen's Corporate Finance is an outstanding clear and complete manual, a wonderful merger of practice and theory. Its coverage of the market aspects of corporate finance distinguishes its content, but its treatment of all the material makes it essential reading for the student, financier or industrialist."
"The book itself covers all the important techniques that a financial manager must have in his repertoire of tools. The exposition is clear and concise and, most importantly, relies on commonsense reasoning throughout. This is not a book with obscure formulae, yet is still rigorous and at the same time a model of clarity."
"I opened my first Vernimmen in 1982. After having spent just a few weekends reading it, I felt better equipped for my role in financial management at Paribas. Now at Apax, the Vernimmen remains my companion in my search for value creation (key in the private equity industry)."
As a Mexican-born, French-educated, German-based portfolio manager, I've worked and invested in several European countries. The multi-country content of the "Corporate Finance: Theory and Practice" book makes it my preferred companion as I work in a cross-border environment. Its international focus is the perfect complement to my multicultural experience.
This corporate finance textbook makes the difference. It is an outstanding and unique blend of the theory and the practice, European flavour and world perspective, and traditional topics and emerging themes. Above all, the book is an excellent manual for teachers, students, and corporate managers.
As a business student, I appreciated this book for being both exhaustive with almost 1,000 pages and easy to digest. The strengths of this book are its conversational writing style and emphasis on practical problem solving. For example, the four-stage framework for financial analysis presented here is a simple yet rigorous tool to understand a company's financial situation. Plus the authors make theory come alive with the use of concrete examples with real companies.
This book was a fine introduction to corporate finance and continues to be a useful reference for me.
"The understanding of Corporate Finance is a key issue to successfully manage a company. From a banker's point of view, a good understanding of Corporate Finance is crucial to assist a company.
The "Vernimmen", written for Europeans by Europeans is a most useful reference for the student as well as the practitioner. The style of the book is concise, yet every conceivable aspect of Corporate Finance is covered.
Complemented by an exhaustive website containing summaries of key concepts, of formulae, and of financial statements of a wide range of companies, the "Vernimmen" is a must."
"This book efficiently bridges financial theory and practice, and encapsulates everything a corporate finance banker will ever need to know and understand. It is obvious that the authors are passionate about finance, and their enthusiasm is contagious. Written in an easy and accessible style, this book deserves to become a reference work."
"This book is unique - one of the ultimate study and reference guides for European financiers from students to CFOs.
The French-language versions of the "Vernimmen" have been for me one of the most helpful and trusted companions throughout my professional career."
"I 'm glad to learn that Vernimenn unique Book on finance is now available for english-reading speakers. I have known this excellent book for many years, which all professionals can easily use when they need to go back to the basics of modern corporate finance. Smartly written, thorough, lively, regularly updated. I strongly recommend it to every one: from the beginner in Finance to high level experts. Learning with Vernimmen is a real pleasure."
"This book is particularly useful for those people who look for the bridge between strategic, operational and investment decisions, on one hand, and financial accounts, on the other hand. Authors' approach,which consists of guiding the reader from financial accounting to most complex deals that have strategic implications for firms, is new and very useful. I would recommend this book to those who want to succeed in in-house and external consulting world as well as in the corporate finance area."
"Written in a fluent and readable style and supplemented by numerous real-world examples, "Corporate Finance: Theory and Practice" has served as an excellent aid to my studies of finance. The book's broad content has been indispensable in acquiring a better understanding of all the core areas of finance, ranging from the basics of financial analysis through to the workings of complex M&A transactions and cutting edge financial products."
"Corporate finance is a lively subject that changes from day to day and evolves regularly, depending on new market developments. The Vernimmen is a true bible of corporate finance. With regular updates through their monthly newsletter and upgrades, the authors have made it applicable to any place, any time. This is pretty unique in the field."
"Impressive book for finance professionals - Probably the best recently published Corporate Finance book with a truly European emphasis. The balance between theory and practice makes this book an excellent tool for Investment Bankers and other finance professionals, as it covers both basic as well as more sophisticated topics. Particularly impressive is their commitment to continuously updating material, as well as the regular publication of a newsletter containing timely articles on various current finance topics. The possibility of asking questions to the authors and effectively receiving in-depth answers for free is a very valuable feature. I sincerely recommend this text." Amazon.co.uk 31 October 2005
"An excellent book for all business students - For a few months already, the Vernimmen.com website had been helping me for my finance class, as well as the monthly newsletter. I finally bought the book, and I have not been disappointed: the style is clear, very practical ; theories are mixed with real cases, which makes them easy to understand. Valuation techniques are well explained (discounted cash flow methods, methods based on ratios). Fundamental concepts (accounting, finance, financial markets) are recalled in the first part; when more complex concepts are tackled (investment analysis, LBOs, capital structure...), they are explained with lots of simplicity and conciseness.
I recommend this book for every student in Management or Finance!"
Amazon.co.uk 30 July 2005
Maurizio Dallocchio is the current Dean of the leading Italian business school Bocconi (Milan) and Lehman Brothers chair of Corporate Finance. He is also a board member of several listed and unlisted companies and is one of the most distinguished Italian authorities on finance.
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