Quantitative Corporate Finance

- Fundamentals of corporation finance

- Introduction: Capital formation, risk, and the corporation

- The corporation and other forms of business organization

- The corporation balance sheet

- The operating statements

- Asset and financial structures

- Capital markets and investment bankers

- Best Effort vs. Firm Commitment or Underwriting Basis

- Private Placements

- Secondary Flotations

- Issuing Securities Through Rights

- Stock Tend.-Promotion and public share financing of corporate enterprises

- The problem of control

- The equity of the corporation: common and preferred stock

- Common stock as risk capital

- Rewards of common shareholders

- The value of common shares stock

- Splits and stock dividends

- The cost of common stock financing

- Features of preferred stock

- Cost of preferred stock

- Long-term debt

- Mortgage agreement

- Subordinate mortgages

- Dividend restrictions

- Sinking funds

- Restrictions on creating new debt

- Implicit cost of debt

- The explicit costs of debt

- The interest cost

- Setting the rate on a new issue

- Regression analysis

- Financial management

- Sales forecasting and pro forma statement analysis

- Selecting the capital cost base costing the components of the financial mix

- Summary

- Risk and return of equity and the capital asset pricing model

- Reasons for debt reduction

- Effects of debt reduction

- Managerial discretion and terms of repayment methods for retiring specific issues

- Summary

- Financing current operations

- The option pricing model and equity valuation

- External relationships of the corporation

- Corporation growth and economic growth and stability

- Monetary policy and investment decisions of the firm

- Self-stabilization programs

- Mergers, combinations, acquisitions, and holding companies

- Liquidation, failure, bankruptcy, and reorganization

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John B. Guerard, Jr., Co-Director of Global Quantitative ResearchPh.D. Finance, University of Texas at Austin, 1980M.S.I.M. Finance, Georgia Institute of Technology, 1977M.A. Economics, University of Virginia, 1976A.B. Economics, Duke University, cum laude, 1975

John B. Guerard Jr. joined McKinley Capital Management in 2005 as Co-Director of Global Quantitative Research. Mr. Guerard's passion for global equity markets, along with his academic credentials and broad practitioner experience make him a notable addition to our team. Mr. Guerard shares oversight responsibility for the Global Quantitative Research team with long-time Director, Ted L. Gifford. Both will work to maintain and enhance our quantitative capabilities and investment models. Prior to joining McKinley Capital, Mr. Guerard held a number of senior-level positions including Vice President for Daiwa Securities Trust Co. where he co-managed the Japan Equity Fund with Nobel prize winner Dr. Harry Markowitz. He is also a former Faculty and Adjunct Faculty member at Wharton, University of Pennsylvania and Rutgers University Graduate School of Management.

Eli Schwartz is an Emeritus Professor at Lehigh University (1991) and former Chairman, Economics Dept, Lehigh University, 1978-1984. Visiting Professor and lecturer at the following: Tel Aviv University; Fulbright Lecturer and consulting professor at Autonomous University of Madrid, Spain (1979); Wharton School, University of Pennsylvania; London School of Economics; Michigan State; Brown University and University of Rhode Island. Professor Schwartz is extremely well known and remains active in academic research. He has published several books and many papers in the field of corporate finance, including "Management Policies in Local Government Finance", Theory and Application of the Interest Rate, The Economic Growth Controversy, among others.