Taking an international perspective to corporate finance, the latest edition of Corporate Finance and Investment is a highly-regarded and established text for students who want to understand the principles of corporate finance and develop the key tools to apply it. The ninth edition has been revised to include topical issues in valuation, working capital, capital structure, the dividend decision, Islamic finance, risk and risk management, and behavioural finance. With its focus on strategic issues of finance in a business setting, this text uses the latest financial and accounting data, articles and research papers to effectively demonstrate how, and to what extent, the theory can be applied to practical issues in corporate finance.
Aswath Damodaran, distinguished author, Professor of Finance, and David Margolis, Teaching Fellow at the NYU Stern School of Business, has delivered the newest edition of Applied Corporate Finance. This readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or models. Like no other text of its kind, Applied Corporate Finance, 4th Edition applies corporate finance to real companies. It now contains six real-world core companies to study and follow. Business decisions are classified for students into three groups: investment, financing, and dividend decisions.
This monograph is devoted to a modern theory of capital cost and capital structure created by this book’s authors, called the Brusov–Filatova–Orekhova (BFO) theory, and its application to the real economy. BFO theory promises to replace the traditional theory of capital cost and capital structure by Nobel laureates Modigliani and Miller. This new theory in particular, presents a possible explanation to the causes of the recent global financial crisis. The authors of the book describe the general theory of capital cost and capital structure that can be applied to corporations of arbitrary age (or with arbitrary lifetime) and investment projects with arbitrary duration. The authors illustrate their theory with examples from corporate practice and develop investment models that can be applied by companies in their financial operations. This updated second edition includes new chapters devoted to the application of the BFO theory in ratings, banking and other areas. The authors also provide a new approach to rating methodology highlighting the need for including financial flow discounting, the incorporation of rating parameters (in particular, financial ratios) into the modern theory of capital structure - BFO theory. This book aims to change our understanding of corporate finance, investments, taxation and rating procedures. The authors emphasize that the most used principles of financial management should be changed in accordance to BFO theory.
This package includes a physical copy of Corporate Finance and Investment: Decisions and Strategies, 7/e by Richard Pike, Bill Neale and Philip Linsley, as well as access to the eText and MyFinanceLab. Corporate Finance and Investments, now in its seventh edition, is a popular and well-regarded text for students of corporate finance. The text takes a practical approach, focusing on the strategic issues of finance in a business setting. With clear and accessible language and an international perspective, the seventh edition will provide students with both essential knowledge of corporate finance and the tools to apply it.
FINANCE Financial managers and investment professionals need a solid foundation in finance principles and applications in order to make the best decisions in today's ever-changing financial world. Written by the experienced author team of Frank Fabozzi and Pamela Peterson Drake, Finance examines the essential elements of this discipline and makes them understandable to a wide array of individuals, from seasoned professionals looking to fine-tune their financial skills to newcomers seeking genuine guidance through the dynamic world of finance. Divided into four comprehensive parts, this reliable resource opens with an informative introduction to the basic tools of investing and financing decision-making financial mathematics and financial analysis (Part I). From here, you'll become familiar with the fundamentals of capital market theory, including financial markets, financial intermediaries, and regulators of financial activities (Part II). You'll also gain a better understanding of interest rates, bond and stock valuation, asset pricing theory, and derivative instruments in this section. Part III moves on to detail decision-making within a business enterprise. Topics touched upon here include capital budgeting that is, whether or not to invest in specific long-lived projects and capital structure. Management of current assets and risk management are also addressed. By covering the basics of investment decision-making, Part IV skillfully wraps up this accessible overview of finance. Beginning with the determination of an investment objective, this part proceeds to demonstrate portfolio theory and performance evaluation, and also takes the time to outline techniques for managing equity and bond portfolios as well as discuss the best ways to use derivatives in the portfolio management process. Filled with in-depth insights and practical advice, Finance puts this field in perspective. And while a lot of ground is covered in this book, this information will help you appreciate and understand the complex financial issues that today's companies and investors constantly face.
The requirement to maximise value for shareholders is at the core of any corporate investment or financing decision. The intrinsic value of proposed investments should be assessed before deciding how much capital to allocate; the benefits and risks associated with each available source of finance should be considered when capital is being raised; and capital, and any associated financial risks, should be managed in a way that continues to maximise value. At every stage, an analysis should be carried out to ensure the decision is optimal for shareholders and other capital providers.This book provides practical guidance on the application of financial evaluation techniques and methods (mainly covered in Appendices), as well as comprehensive coverage of traditional corporate finance topics, discussed in the context of capital investment, raising and management and financial risk management (using derivatives). Models, formulae and other quantitative techniques are illustrated in over 100 examples (using only basic mathematics). Topics discussed include the following:* business appraisal using financial ratios* corporate valuation (mainly discounted cash flow and real options)*investment appraisal techniques* acquisition structuring and evaluation* the nature of loans and loan agreements* features and pricing of bonds (straight and convertible)* leasing (including leveraged leasing)* equity raising (Initial Public Offerings)* long and short term capital management* basic pricing of derivatives (forwards, futures, options, swaps)* interest rate and currency risk management using derivativesCapital Investment & Financing provides a comprehensive, in-depth coverage of concepts, methods and techniques involved when evaluating acquisitions and other investments, assessing financing opportunities, and managing capital. The core chapters provide practical guidance on key corporate finance topics; the Appendices contain more quantitative material, focusing on pricing techniques. Examples are used throughout, and an integrated case study (fictional) in the final Appendix uses many of the techniques discussed.*Discusses all key areas of corporate investing and financing, focusing on key financial issues *Concise, thorough and technical, it enables to reader to acquire knowledge effectively *Can be used in everyday analysis and decision making
Finance is the study of how individuals, institutions, governments, and businesses acquire, spend, and manage their money and other financial assets to maximize their value or wealth. Fundamentals of Finance introduces the nuances of finance in a comprehensive yet concise manner and is essential reading for professionals building a career in finance or for students taking a course in finance. The book consists of four parts: Part I: "Introduction to Finance, Money and Interest Rates, and Time Value of Money" focuses on the role financial markets play in the financial system and financial basics that underlie how markets operate. Part II: "Investments and Portfolio Management" discusses the characteristics of stocks and bonds, how securities are valued, the operations of securities markets, formation of optimal portfolios, and derivatives. Part III: "Financial Management/Corporate Finance" explores financial planning, asset management, and fund-raising activities that will enhance a firm’s value. Part IV: "Management of Financial Institutions" focuses on management of financial institutions in general, and risk management in financial institutions in particular. The book’s many examples, appendices, graphs and tables provide valuable know-how to a wide audience, making it an excellent resource for professionals as well as students who wish to attain a broad understanding of finance. Please contact [email protected] to request additional instructional material.
Capital Investment and Valuation addresses the many ways in which corporations value assets and make investment decisions. Filled with information and ideas that are both thought provoking and functional, it provides an indispensable look into the theory and mechanics of valuation and investing, including: the six ideas that must be understood for effective capital investment and valuation; cost/benefit analyses of mergers, buyouts, spinoffs, and other corporate control issues; and strategies for creating shareholder value through integrated investment and operation programs. -- Book jacket.
Score your highest in corporate finance The math, formulas, and problems associated with corporate finance can be daunting to the uninitiated. Corporate Finance For Dummies introduces you to the practices of determining an operating budget, calculating future cash flow, and scenario analysis in a friendly, un-intimidating way that makes comprehension easy. Corporate Finance For Dummies covers everything you'll encounter in a course on corporate finance, including accounting statements, cash flow, raising and managing capital, choosing investments; managing risk; determining dividends; mergers and acquisitions; and valuation. Serves as an excellent resource to supplement coursework related to corporate finance Gives you the tools and advice you need to understand corporate finance principles and strategies Provides information on the risks and rewards associated with corporate finance and lending With easy-to-understand explanations and examples, Corporate Finance For Dummies is a helpful study guide to accompany your coursework, explaining the tough stuff in a way you can understand.
