BUSF_A01.qxd

Index

Stock Exchange Automated

Quotations (SEAQ) system

254 –5

Stock Exchange Electronic Trading

System (SETS) 255

stock in trade seeinventories

stock markets 184 –5, 252, 441–2

Storey, D. 437

strategic planning 135 –7, 504

Stulz, R. 399

sub-prime loans 241

Sudarsanam, S. 399

Sugar, Sir Alan 395

Summers, B. 448

Sunder, S. 265

supermarkets 58

Surowiecki, J. 258 –9

survival of businesses 22, 436 –7

swaps seecurrency swaps; interest

rate swaps

Swary, I. 335

SWOT analysis 136, 504

synergy 391

takeovers 27, 207, 388, 505

see alsomergers

Tata Group 401

Tate amd Lyle plc 388

tax shieldof borrowings 305,

312–13, 505

taxation and tax relief 117–20, 139,

144, 222 – 4, 237, 239, 242 –3,

246, 305 – 6, 309 –15, 331, 426

for small businesses 438 –9, 447

Tayles, M. 121

technical analysis 260 –3, 267, 504

tenders for issue of shares 227– 8

term loans 241, 248, 277, 294, 504

Tesco plc 199, 239, 244, 280, 355

Thomas, M. 205, 274, 280, 288

Thomson, S. 315

time-adjusted measures of financial

benefit 86 –7

Timmermann, A. 267

trade-off theory (between tax shield

and costs of bankruptcy)

312 –17, 504

trade payables 379– 83

management of 380

for small businesses 448 –9

trade receivables 368 –72, 382

for small businesses 448

management of 370 –2

Trahan, E. 142

transaction risk with foreign

exchange 419–23, 505

translation risk with foreign

exchange 424 –5, 431, 505

Tucker, J. 205, 274, 280, 288

turbulence in markets 265

turnover ratios 53 – 6

two-fund separation 197, 505

uncertainty, nature of 154

underdeveloped countries 253

underutilisation of assets 390

underwriting of share issues 227

Unilever plc 339

utility curves 195 –7

utility theory 166 –9, 176, 505

value-based management (VBM)

137– 42, 145 – 6

value drivers 138 – 40, 505

variance 186, 505

see also standard deviation

Vasilou, D. 310

Veit, E. 335

Ventoura-Neokosmidi, Z. 310

venture capital 442, 505

Vodafone Group plc 256, 427

Walker, M. 207, 399

warrants 240 –1, 248, 282, 505

Warther, V. 336

Watts, R. 309, 337

wealth of companies 42, 45

tendency towards under-

statement of 49, 64

wealth of shareholderssee

shareholders

weighted average cost of capital

(WACC) 274, 282 –90,

298 –316, 505

tendency to be forward-looking

287

used as the discount rate 283 – 8

values used in practice 288 –9

Welch, I. 267, 336

West Cornwall Pasty Co. Ltd 401

Weston, J.F. 309

Whistles retail chain 402

Who Wants To Be A Millionaire?

258 –9

Wilson, N. 448

Wilson Committee report (1980)

441

‘window dressing’ 269

withholding of unfavourable

information 270

Wolfe, M. 99

Wolseley plc 199

working capital 113, 139, 349– 83,

505

decisions on 355 – 6

financing of 349 –50, 357– 8

general attitude to 356

link with long-term investment

and financing 351–3

and liquidity 356 – 8

management of 350, 358

need for 349

scale of 354 –5

for small businesses 448

working capital cycle 350 –1

WorldCom 51

Xerox Corporation 51

Yield seediscounted cash flow

yield; dividend yield; flat

yield; redemption yield

Young, G. 314, 334

Young, S. 338

Young and Co’s Brewery plc 221

Z-scores 66, 505

Zaman, M. 205

Zeitz, J. 309 –10

Zhao, Q. 228

Ziv, A. 335 – 6

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