Corporate Financial Management 6th Edition

Explore how finance theory works in practice with Corporate Financial Management, 6th edition. Find out how financial decisions are made within a firm, how projects are appraised to make investment decisions, how to evaluate risk and return, where to raise finance from and how, ultimately, to create value.

Need extra support? Join over 10 million students benefiting from Pearson MyLabs.

This title is supported by MyLab Finance, an online homework and tutorial system which can be used by students for self-directed study or instructors can choose to fully integrate this eLearning technology into the delivery of their course.

Students can benefit from access to MyLab Finance by purchasing an alternative 'pack' version of this product called Corporate Financial Management with MyLab Finance access card 6e (9781292169415), or by purchasing access to this MyLab separately at http://www.pearson.com/mylab/finance. You will also need a course ID from your instructor to access MyLab. MyLab Finance should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

Auteur

Glen Arnold runs an investment fund and previously held positions as Professor of Finance and Professor of Investing. In addition to the textbook Modern Financial Markets and Institutions, he has authored leading investment and banking books, including The Financial Times Guide to Investment, The FT Guide to Banking, and The FT Guide to Value Investing.

Deborah Lewis is a Senior Teaching Fellow at the University of Bath. As a Director of Studies for the Bath MBA programme, featured in the top 100 of the FT Global MBA 2018 Ranking, she ensures the material is useful both for the student and the practitioner. Deborah's previous commercial experience allows her to blend academic theory with professional application.

Texte du rabat

Explore how finance theory works in practice with Corporate Financial Management, 6th edition. Find out how financial decisions are made within a firm, how projects are appraised to make investment decisions, how to evaluate risk and return, where to raise finance from and how, ultimately, to create value.

Need extra support? Join over 10 million students benefiting from Pearson MyLabs.

This title is supported by MyLab Finance, an online homework and tutorial system which can be used by students for self-directed study or instructors can choose to fully integrate this eLearning technology into the delivery of their course.

Students can benefit from access to MyLab Finance by purchasing an alternative 'pack' version of this product called Corporate Financial Management with MyLab Finance access card 6e (9781292169415), or by purchasing access to this MyLab separately at http://www.pearson.com/mylab/finance. You will also need a course ID from your instructor to access MyLab. MyLab Finance should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

Résumé

Discover more about the essential principles of Corporate Finance, with the ultimate guide coming from a team of leading authors in the field.

Corporate Financial Management, 6th edition by Arnold and Lewis is the latest version of this comprehensive guide to the subject, written by leading authors in the financial world. This edition is ideal for students who study the topic either as a standalone subject or as part of their wider studies within business accounting, finance, banking, or economics.

The book offers a complete study of the theory and practice in corporate finance, exploring a range of topics, including investment appraisal, risk and return, and sources of finance. It also discusses concepts that involve risk management, including derivatives, giving a unique treatment of corporate value.

Accessible and easy to understand, the text is designed to teach you how to make informed, successful financial decisions by offering a variety of real-world case studies that apply important business concepts from theory to action.

The current, thoroughly updated edition includes a plethora of existing and updated features that will support your understanding of the concepts presented in each chapter.

Key features include:

• A clear, accessible language that illustrates the financial techniques in practical terms.
• New Financial Times articles that help you see the relevance between theory and the real world.
• A presentation of finance as a dynamic subject, that is open to theoretical re-evaluation.
• A large number of examples and case studies include statistics and data that range from the number of corporate mergers to default rates in corporate bonds.
• Mathematical explanations that are easy to follow.
  With a clear layout and a range of additional resources to support your understanding of the key concepts introduced, this must-have book will help you succeed in your studies and prepare you for the real financial world.

This title is supported by MyFinanceLab®, an online homework and tutorial system which can be used by students for self-directed study, or instructors who can choose to fully integrate this eLearning technology into the delivery of their course.

If you would like to purchase both the physical text andMyLabAccounting search for: 9781292169415 Corporate Financial Management, 6th Edition with MyFinanceLab®.

Package consists of:

• 9781292140445 Corporate Financial Management, 6th Edition
• 9781292169392 Corporate Financial Management, 6th Edition MyFinanceLab®
  9781292169385 Corporate Financial Management, 6th EditionPearsoneText

MyFinanceLab® is not included. Students, if MyFinanceLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyFinanceLab®should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

Contenu

Brief contents

Topics covered in the book xxi

Introduction to the book xxiii

Acknowledgements xxix

Part 1 Introduction 1

1. The financial world 2

Part 2 The investment decision 49

1. Project appraisal: net present value and internal rate of return 50
2. Project appraisal: cash flow and applications 89
3. The decision-making process for investment appraisal 125
4. Project appraisal: capital rationing, taxation and inflation 151

Part 3 Risk and return 173

1. Risk and project appraisal 174
2. Portfolio theory 222
3. The Capital Asset Pricing Model and multi-factor models 268

Part 4 Sources of finance 327

1. Stock markets 328
2. Raising equity capital 365
3. Long-term debt finance 422
4. Short- and medium-term finance, treasury and working capital management 474
5. Stock market efficiency 542

Part 5 Corporate value 611

1. Value-based management 612
2. Value-creation metrics 658
3. The cost of capital 704
4. Valuing shares 738
5. Capital structure 787
6. Dividend policy 840
7. Mergers 868

Part 6 Managing risk 927

1. Derivatives 928
2. Managing exchange-rate risk 974

Appendices A:1

1. Future value of £1 at compound interest A:2
2. Present value of £1 at compound interest A:3
3. Present value of an annuity of £1 at compound interest A:4
4. Future value of an annuity of £1 at compound interest A:5
5. Areas under the standardised normal distribution A:6
6. Answers to the mathematical tools exercises in Chapter 2, Appendix 2.1 A:7

Glossary G:1

Bibliography B:1

Index I:1