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The Timeless Essence of Financial Science: The critical lifeline for every investor, money manager and corporate finance officer to keep off financial crisis and create sustainable wealth. Paperback – December 25, 2013


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Review

"excellent contribution on corporate finance especially for professionals." - The Management Accountant magazine (ICAI) - Feb 2014

From the Author

The creation of this book was inspired by a quest for enhancing enterprise performance, that leads to wealth creation for all. Bearing the brunt of three financial crises in one decade which destroyed billions of shareholder dollars worldwide; the impact of these crises drawing entire economies into misery; and all of this happening despite several man years of developing financial expertise - global economy seemed to be at its wit's end, the fear of another crisis writ large across the world. Is world inc. unwittingly doing the wrong things, that creates irrational euphoria in financial markets, driven by unrealistic expectations, and subsequent crashes because corporate performance fails to deliver? This led to a review of existing financial models and practices. 'The Timeless Essence of Financial Science' is an in-depth inquiry into the following key questions.
  1. Whether risk-return relationship and shareholders' expectations are correctly understood?
  2. Whether current corporate finance practices conform with economic rationale and are aligned to the 'Value Creation' goal?
  3. Whether economic value creation is correctly measured the way it actually happens?
The result was a startling discovery of several fallacies in corporate finance that threaten shareholder wealth worldwide. The findings have been presented in two parts, of which this is the second. The first title 'VALUE EROSION', is a diagnostic account, raising fundamental questions that 'Financial Economics' never asked. This sequel 'THE TIMELESS ESSENCE OF FINANCIAL SCIENCE' answers those very questions that 'Financial Economics' never could.

More About the Author

Rajesh D. Mudholkar is a certified Management Accountant with over three decades of professional experience. He brings his knowledge, reflections and insights, gained from several years of MNC work as well as teaching finance, quantitative analysis and business research at post-graduate business management programs, into his writings. His two books 'The Timeless Essence of Financial Science' and 'Value Erosion' document his path-breaking research that resolves decades old flaws in financial decision making and enterprise value measurement, the root cause of financial crises. In his latest book 'The Entrepreneur's Oath' he argues, supported by irrefutable evidences why caring for people and planet is the only way business enterprises can achieve excellence and be sustainable; and for the same reason, why the onus of social development - the trickle-down effect of laissez faire that was originally envisaged - must be embraced as an inextricable but neglected element of capitalism, and not be viewed as an imposed philanthropy that must be reluctantly complied with. He is an alumnus of 'University of Mumbai' and Associate member of ICAI, India's apex statutory body for Cost and Management Accounting, and editor-on-board for 'ANVESHAK' International Journal of Management.

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