Multinational Corporate Financial Policies

This book summarizes an extensive research on the three main issues of financial practice: Investment, financing and dividend. In this research we tried to confront theory and practice and bring the audience a fresh insight of major financial policies. Our main tool of research was a multinational survey sent to chief financial officers (CFOs) of major companies in the U.S., the U.K., Germany, Canada and Japan. The results of this research are summarized in the first two chapters. While the first chapter deals with general policies adapted by firms, the second chapter examines sectorial differences. Chapters 3 and 4 deals with questions concerning the dividend policy in depth and finally chapters 5 and 6 talks about firms price multipliers and short ratios which are the results of financial corporate policies as predictors of short run abnormal return.