1. Dividend policy
1.1. Options
1.1.1. Periodic dividend
1.1.2. Extraordinary dividend
1.1.3. No dividend
1.1.4. Scrip dividend
1.2. Related issues
1.2.1. Cash hoarding
1.2.2. Conflict of interest shareholders - company
1.2.3. Share repurchase
2. Capital structure
2.1. Leverage degree
2.1.1. Conservative
2.1.1.1. Problems
2.1.1.1.1. Value locked
2.1.1.1.2. LBO by PE
2.1.1.2. How to change it
2.1.1.2.1. Share buyback
2.1.1.2.2. Debt
2.1.2. Risky
2.1.2.1. Problems
2.1.2.1.1. Limited financing options
2.1.2.1.2. Bankruptcy risk
2.1.2.2. How to change it
2.1.2.2.1. Issue of new equity
2.1.2.2.2. IPO
3. Trends in economic and finacial environment
3.1. Tax avoidance
3.1.1. Mega Mergers
3.1.1.1. Reasons
3.1.1.1.1. Taxes
3.1.1.1.2. Synergies
3.1.1.1.3. National champions
3.1.1.1.4. Expansion
3.1.2. Tax havens
3.1.3. M&A
3.2. Cash hoarding
3.2.1. R&D for tech companies
3.2.2. Conservative mentality
3.2.3. Conflict with shareholders
3.3. Deductible interest rate
3.3.1. Tax shield
3.3.2. Common practice LBO
3.3.3. Excessive debt mentality
3.4. Alternative investments
3.4.1. Diversification
3.4.2. Hard to assess value
3.5. Scrip dividends
3.5.1. Companies save costs
4. Ecomomic diagnosis
4.1. Evaluate business performance
4.1.1. WC
4.1.2. CAPEX
5. Financial diagnosis and planning
5.1. Need
5.1.1. Debt
5.1.1.1. Corporate bonds
5.1.1.2. Bank debt
5.1.2. Equity
5.1.2.1. Issue of New Equity
5.2. Excess
5.2.1. Dividends
5.2.2. Cash pile
5.2.3. Acquisition
5.2.4. Growth
5.2.5. Alternative investments
5.2.5.1. IPO
6. Valuation
6.1. Methods used
6.1.1. Multiples
6.1.2. DCF
6.2. Results
6.2.1. Over-valued
6.2.1.1. Problem = going public
6.2.2. Under - valued
6.2.2.1. Market signal
6.2.2.1.1. Buy - back