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Mastering financial management
In recent years, financial management has been transformed. In the wake of dramatic developments brought about by globalisation, the information technology revolution and sweeping regulatory change, the finance function has moved beyond merely dealing with accounts and cash flow. - -
CONTENTS
Seizing the reins of good financial management
Finance used to be regarded as an ancillary function or a support service for other departments. But it needs to be at the heart of a company’s overall strategy
The right conditions for trust between businesses
In their zeal to cut costs and improve efficiency, too many companies outsource functions without fully considering the potential hazards and hidden costs
Stakeholder dreams and shareholder realities
Companies are often faced with competing pressures. However, they should only prioritise goals other than maximising shareholder value if shareholders are protected by legal, financial or other less formal mechanisms
A new formula of value-creation
Traditional methods of calculating shareholder value creation are inadequate because they rely on historical data and, thus, fail to take into account a crucial factor: the expectations of investors
Benefits of a better image
Financial intermediaries that maintain a consistently good reputation create disproportionately high levels of business for themselves – but also have an impact on the share values of their client companies
Helping newcomers to the board feel welcome
The burden on non-executive directors is increasing in terms of their financial responsibilities and their potential liabilities. So, why do so few companies have processes in place to integrate and nurture them?
Hedging your bets to protect against risk
Companies are increasingly using hedging strategies to protect themselves from financial shocks, but their efforts will be wasted unless they iron out potentially damaging personality traits among their managers
Ranking risk and finance
According to a survey of chief financial officers at non-financial companies, risk management improves decision-making and boosts value across companies, but is largely misunderstood and underfunded
Managing the risks of liquidity and correlation
A series of recent crises offer valuable lessons on how to deal with liquidity and correlation risk. For risk managers, it is crucial to recognise that illiquidity and excess co-movement in markets are intimately related
Unexpected consequences
In their zeal to cut costs and improve efficiency, too many companies outsource functions without fully considering the potential hazards and hidden costs
