Fundamentals of Corporate Finance, Global Edition

Name: Fundamentals of Corporate Finance, Global Edition
Price: 4590 ISK
Availability: InStock
Author: Jonathan Berk; Peter DeMarzo; Jarrad Harford
ISBN: 9781292738048

Höfundar: Jonathan Berk; Peter DeMarzo; Jarrad Harford (Útgáfa: 6)

Kaup valmöguleikar

Fundamentals of Corporate Finance offers a practical introduction to modern-day core finance principles. The text arms you with a problem-solving methodology, real-life financial management practices, and an overarching valuation framework that you can apply in your future career. Updated with new data, examples and exercises, the 6th Edition gives you the opportunity to practice and apply course concepts.

Nánar um bókina

Útgefandi: Pearson International Content

ISBN: 9781292738048

Print ISBN: 9781292470047

Format: ePub

Útgáfa: 6

Höfundar: Jonathan Berk; Peter DeMarzo; Jarrad Harford

Tungumál: English

Útgefið: 2024-09-03

Prent takmörkun á líftíma: 100

Prent takmörkun: 2

Afritunar takmörkun: 2

Kaflar

Cover
Cover
Front Matter
Copyright Page
Dedication
About the Authors
Bridging Theory and Practice
Applications That Reflect Real Practice
Teaching Every Student to Think Finance
Practice Finance to Learn Finance
Preface
Acknowledgments
Interactive Media Contents
Interactive Media Contents
Part 1: Introduction
Part 1: Introduction
1: Corporate Finance and the Financial Manager
Introduction: Corporate Finance and the Financial Manager
1.1: Why Study Finance?
1.2: The Four Types of Firms
1.3: The Financial Manager
1.4: The Financial Manager’s Place in the Corporation
1.5: The Stock Market
1.6: Financial Institutions
Summary and Assignments: Corporate Finance and the Financial Manager
2: Introduction to Financial Statement Analysis
Introduction: Introduction to Financial Statement Analysis
2.1: Firms’ Disclosure of Financial Information
2.2: The Balance Sheet
2.3: The Income Statement
2.4: The Statement of Cash Flows
2.5: Other Financial Statement Information
2.6: Financial Statement Analysis
2.7: Financial Reporting in Practice
Summary and Assignments: Introduction to Financial Statement Analysis
Part 2: Interest Rates and Valuing Cash Flows
Part 2: Interest Rates and Valuing Cash Flows
3: Time Value of Money: An Introduction
Introduction: Time Value of Money: An Introduction
3.1: Cost-Benefit Analysis
3.2: Market Prices and the Valuation Principle
3.3: The Time Value of Money and Interest Rates
3.4: Valuing Cash Flows at Different Points in Time
Summary and Assignments: Time Value of Money: An Introduction
4: Time Value of Money: Valuing Cash Flow Streams
Introduction: Time Value of Money: Valuing Cash Flow Streams
4.1: Valuing a Stream of Cash Flows
4.2: Perpetuities
4.3: Annuities
4.4: Growing Cash Flows
4.5: Solving for Variables Other Than Present Value or Future Value
4.6: Non-Annual Cash Flows
Summary and Assignments: Time Value of Money: Valuing Cash Flow Streams
4 Appendix: Using a Financial Calculator and our interactive Annuity Calculator
Introduction: Using a Financial Calculator and our interactive Annuity Calculator
5: Interest Rates
Introduction: Interest Rates
5.1: Interest Rate Quotes and Adjustments
5.2: Application: Discount Rates and Loans
5.3: The Determinants of Interest Rates
5.4: The Opportunity Cost of Capital
Summary and Assignments: Interest Rates
6: Bonds
Introduction: Bonds
6.1: Bond Terminology
6.2: Zero-Coupon Bonds
6.3: Coupon Bonds
6.4: Why Bond Prices Change
6.5: Corporate Bonds
Summary and Assignments: Bonds
6 Appendix A: Solving for the Yield to Maturity of a Bond Using a Financial Calculator
Introduction: Solving for the Yield to Maturity of a Bond Using a Financial Calculator
6 Appendix B: The Yield Curve and the Law of One Price
Introduction: The Yield Curve and the Law of One Price
7: Stock Valuation
Introduction: Stock Valuation
7.1: Stock Basics
7.2: The Mechanics of Stock Trades
7.3: The Dividend-Discount Model
7.4: Estimating Dividends in the Dividend-Discount Model
7.5: Limitations of the Dividend-Discount Model
7.6: Share Repurchases and the Total Payout Model
7.7: Putting It All Together
Summary and Assignments: Stock Valuation
Part 2: Integrative Case
Part 3: Valuation and the Firm
Introduction: Valuation and the Firm
8: Investment Decision Rules
Introduction: Investment Decision Rules
8.1: The NPV Decision Rule
8.2: Using the NPV Rule
8.3: Alternative Decision Rules
8.4: Choosing Among Projects
8.5: Evaluating Projects with Different Lives
8.6: Choosing Among Projects When Resources Are Limited
8.7: Putting It All Together
Summary and Assignments: Investment Decision Rules
8 Appendix: Creating the NPV Profile Using Excel’s Data Table Function
Introduction: Creating the NPV Profile Using Excel’s Data Table Function
9: Fundamentals of Capital Budgeting
Introduction: Fundamentals of Capital Budgeting
9.1: The Capital Budgeting Process
9.2: Forecasting Incremental Earnings
9.3: Determining Incremental Free Cash Flow
9.4: Other Effects on Incremental Free Cash Flows
9.5: Analyzing the Project
9.6: Real Options in Capital Budgeting
Summary and Assignments: Fundamentals of Capital Budgeting
9 Appendix: MACRS Depreciation
Introduction: MACRS Depreciation
10: Stock Valuation: A Second Look
Introduction: Stock Valuation: A Second Look
10.1: The Discounted Free Cash Flow Model
10.2: Valuation Based on Comparable Firms
10.3: Stock Valuation Techniques: A Final Word
10.4: Information, Competition, and Stock Prices
10.5: Individual Biases and Trading
Summary and Assignments: Stock Valuation: A Second Look
Part 3: Integrative Case
Part 4: Risk and Return
Introduction: Risk and Return
11: Risk and Return in Capital Markets
Introduction: Risk and Return in Capital Markets
11.1: A First Look at Risk and Return
11.2: Historical Risks and Returns of Stocks
11.3: The Historical Tradeoff Between Risk and Return
11.4: Common Versus Independent Risk
11.5: Diversification in Stock Portfolios
Summary and Assignments: Risk and Return in Capital Markets
12: Systematic Risk and the Equity Risk Premium
Introduction: Systematic Risk and the Equity Risk Premium
12.1: The Expected Return of a Portfolio
12.2: The Volatility of a Portfolio
12.3: Measuring Systematic Risk
12.4: Putting It All Together: The Capital Asset Pricing Model
Summary and Assignments: Systematic Risk and the Equity Risk Premium
12 Appendix: Alternative Models of Systematic Risk
Introduction: Alternative Models of Systematic Risk
13: The Cost of Capital
Introduction: The Cost of Capital
13.1: A First Look at the Weighted Average Cost of Capital
13.2: The Firm’s Costs of Debt and Equity Capital
13.3: A Second Look at the Weighted Average Cost of Capital
13.4: Using the WACC to Value a Project
13.5: Project-Based Costs of Capital
13.6: When Raising External Capital Is Costly
Summary and Assignments: The Cost of Capital
Part 4: Integrative Case
Part 5: Long-Term Financing
Introduction: Long-Term Financing
14: Raising Equity Capital
Introduction: Raising Equity Capital
14.1: Equity Financing for Private Companies
14.2: Taking Your Firm Public: The Initial Public Offering
14.3: IPO Puzzles
14.4: SPACs: A New Way to go Public
14.5: Raising Additional Capital: The Seasoned Equity Offering
Summary and Assignments: Raising Equity Capital
15: Debt Financing
Introduction: Debt Financing
15.1: Corporate Debt
15.2: Other Types of Debt
15.3: Bond Covenants
15.4: Repayment Provisions
Summary and Assignments: Debt Financing
15 Appendix: Using a Financial Calculator to Calculate Yield to Call
Introduction: Using a Financial Calculator to Calculate Yield to Call
Part 5: Integrative Case
Part 6: Capital Structure and Payout Policy
Introduction: Capital Structure and Payout Policy
16: Capital Structure
Introduction: Capital Structure
16.1: Capital Structure Choices
16.2: Capital Structure in Perfect Capital Markets
16.3: Debt and Taxes
16.4: The Costs of Bankruptcy and Financial Distress
16.5: Optimal Capital Structure: The Tradeoff Theory
16.6: Additional Consequences of Leverage: Agency Costs and Information
16.7: Capital Structure: Putting It All Together
Summary and Assignments: Capital Structure
16 Appendix: The Bankruptcy Code
Introduction: The Bankruptcy Code
17: Payout Policy
Introduction: Payout Policy
17.1: Cash Distributions to Shareholders
17.2: Dividends Versus Share Repurchases in a Perfect Capital Market
17.3: The Tax Disadvantage of Dividends
17.4: Payout Versus Retention of Cash
17.5: Signaling with Payout Policy
17.6: Stock Dividends, Splits, and Spin-Offs
17.7: Advice for the Financial Manager
Summary and Assignments: Payout Policy
Part 6: Integrative Case
Part 7: Financial Planning and Forecasting
Introduction: Financial Planning and Forecasting
18: Financial Modeling and Pro Forma Analysis
Introduction: Financial Modeling and Pro Forma Analysis
18.1: Goals of Long-Term Financial Planning
18.2: Forecasting Financial Statements: The Percent of Sales Method
18.3: Forecasting a Planned Expansion
18.4: Growth and Firm Value
18.5: Valuing the Expansion
Summary and Assignments: Financial Modeling and Pro Forma Analysis
18 Appendix: The Balance Sheet and Statement of Cash Flows
Introduction: The Balance Sheet and Statement of Cash Flows
19: Working Capital Management
Introduction: Working Capital Management
19.1: Overview of Working Capital
19.2: Trade Credit
19.3: Receivables Management
19.4: Payables Management
19.5: Inventory Management
19.6: Cash Management
Summary and Assignments: Working Capital Management
20: Short-Term Financial Planning
Introduction: Short-Term Financial Planning
20.1: Forecasting Short-Term Financing Needs
20.2: The Matching Principle
20.3: Short-Term Financing with Bank Loans
20.4: Short-Term Financing with Commercial Paper
20.5: Short-Term Financing with Secured Financing
20.6: Putting It All Together: Creating a Short-Term Financial Plan
Summary and Assignments: Short-Term Financial Planning
Part 7: Integrative Case
Part 8: Special Topics
Introduction: Special Topics
21: Option Applications and Corporate Finance
Introduction: Option Applications and Corporate Finance
21.1: Option Basics
21.2: Option Payoffs at Expiration
21.3: Factors Affecting Option Prices
21.4: The Black-Scholes Option Pricing Formula
21.5: Put-Call Parity
21.6: Options and Corporate Finance
Summary and Assignments: Option Applications and Corporate Finance
22: Mergers and Acquisitions
Introduction: Mergers and Acquisitions
22.1: Background and Historical Trends
22.2: Market Reaction to a Takeover
22.3: Reasons to Acquire
22.4: The Takeover Process
22.5: Takeover Defenses
22.6: Who Gets the Value Added from a Takeover?
Summary and Assignments: Mergers and Acquisitions
23: International Corporate Finance
Introduction: International Corporate Finance
23.1: Foreign Exchange
23.2: Exchange Rate Risk
23.3: Internationally Integrated Capital Markets
23.4: Valuation of Foreign Currency Cash Flows
23.5: Valuation and International Taxation
23.6: Internationally Segmented Capital Markets
23.7: Capital Budgeting with Exchange Rate Risk
Summary and Assignments: International Corporate Finance
24: Leasing
Introduction: Leasing
24.1: The Basics of Leasing
24.2: Accouting, Tax, and Legal Consequences of Leasing
24.3: The Leasing Decision
24.4: Reasons for Leasing
Summary and Assignments: Leasing
25: Insurance and Risk Management
Introduction: Insurance and Risk Management
25.1: Insurance
25.2: Commodity Price Risk
25.3: Interest Rate Risk
Summary and Assignments: Insurance and Risk Management
26: Corporate Governance
Introduction: Corporate Governance
26.1: Corporate Governance and Agency Costs
26.2: Monitoring by the Board of Directors and Others
26.3: Compensation Policies
26.4: Managing Agency Conflict
26.5: Regulation
26.6: Corporate Governance Around the World
26.7: The Tradeooff of Corporate Governance
Summary and Assignments: Corporate Governance
Glossary