This is the worldwide leading text that describes the theory and practice of corporate finance. Throughout the book the authors show how managers use financial theory to solve practical problems and as a way of learning how to respond to change by showing not just how but why companies and management act as they do. The text is comprehensive, authoritative and modern, and yet the material is presented at a common sense level. The discussions and illustrations are unique due to the depth of detail blended with a distinct sense of humour for which the book is well known and highly regarded. This text is a valued reference for thousands of practising financial managers.
Table of contents:
1- Finance and the Financial Manager 2- Present Value, the Objectives of the Firm, and Corporate Governance 3- How to Calculate Present Values 4- The Value of Bonds and Common Stocks 5- Why Net Present Value Leads to Better Investment Decisions Than Other Criteria 6- Making Investment Decisions with the Net Present Value Rule 7- Introduction to Risk, Return, and the Opportunity Cost of Capital 8- Risk and Return 9- Capital Budgeting and Risk 10- A Project is Not a Black Box 11- Strategy and the Capital Investment Decision 12- Agency Problems, Management Compensation, and the Measurement of Performance 13- Corporate Financing and the Six Lessons of Market Efficiency 14- An Overview of Corporate Financing 15- How Corporations Issue Securities 16- Payout Policy 17-Does Debt Policy Matter? 18- How Much Should a Firm Borrow? 19- Financing and Valuation 20- Understanding Options 21- Valuing Options 22- Real Options 23- Valuing Government Bonds 24- Credit Risk 25- The Many Different Kinds of Debt 26- Leasing 27- Managing Risk 28- Managing International Risks 29- Financial Analysis and Planning 30- Working Capital Management 31- Short-Term Financial Planning 32- Mergers 33- Corporate Restructuring 34- Governance and Corporate Control Around the World 35- Conclusion: What We Do and Do Not Know About Finance
Table of contents:
1- Finance and the Financial Manager 2- Present Value, the Objectives of the Firm, and Corporate Governance 3- How to Calculate Present Values 4- The Value of Bonds and Common Stocks 5- Why Net Present Value Leads to Better Investment Decisions Than Other Criteria 6- Making Investment Decisions with the Net Present Value Rule 7- Introduction to Risk, Return, and the Opportunity Cost of Capital 8- Risk and Return 9- Capital Budgeting and Risk 10- A Project is Not a Black Box 11- Strategy and the Capital Investment Decision 12- Agency Problems, Management Compensation, and the Measurement of Performance 13- Corporate Financing and the Six Lessons of Market Efficiency 14- An Overview of Corporate Financing 15- How Corporations Issue Securities 16- Payout Policy 17-Does Debt Policy Matter? 18- How Much Should a Firm Borrow? 19- Financing and Valuation 20- Understanding Options 21- Valuing Options 22- Real Options 23- Valuing Government Bonds 24- Credit Risk 25- The Many Different Kinds of Debt 26- Leasing 27- Managing Risk 28- Managing International Risks 29- Financial Analysis and Planning 30- Working Capital Management 31- Short-Term Financial Planning 32- Mergers 33- Corporate Restructuring 34- Governance and Corporate Control Around the World 35- Conclusion: What We Do and Do Not Know About Finance