Strategic Investment and Finance
Strategic Investment and Finance is a comprehensive course book covering investment and finance analysis from a strategic perspective. It explains classical theories and models of investment and finance, and uses examples and case studies to illustrate their application to concrete business challenges.
The emphasis is on providing insights into how investment analysis and finance decisions are made in real life and how to apply these concepts in a practical setting in order to give the best results.
The book links investment and finance theory with business strategy in a way which offers a new, dynamic perspective on investment analysis. This book is geared towards undergraduate or graduate studies enrolled in introductory to intermediate level courses in investment analysis, finance, and business strategy.
In this 3rd edition of Strategic Investment and Financing, the book has been particularly updated in relation to topics such as internationalization, developments in interest rates and inflation, crowdfunding, sustainability, and Environment, Social and Governance (ESG) investment. Additionally, more examples and cases have been included throughout the book to illustrate practical applications.
Michael Hedegaard is Associate Professor at DTU with particular focus on how technology and innovation is transferred into sustainable business and development. He has more than 25 years of experience in international finance and business development on emerging markets and teaching experience from CBS and DIS. He is author of “Globalisation and the International Economy”.
CHAPTER 1 Introduction to Investment Theory
CHAPTER 2 Discounting
CHAPTER 3 Capital Budgeting
CHAPTER 4 Financial Evaluation of Investments
CHAPTER 5 Optimal Investment Horizon and Replacement
CHAPTER 6 Tax and inflation
CHAPTER 7 Sustainability and Investment Objectives
CHAPTER 8 Risk and Uncertainty
CHAPTER 9 Scenario analysis and Real Options
CHAPTER 10 International Investments
CHAPTER 11 Financing
CHAPTER 12 Business and financial risk
APPENDIX A The calculation models for options
APPENDIX B Financial functions in Excel