Fundamentals of Corporate Finance, EBook [Global Edition]
Thistitle is a Pearson Global Edition. The Editorial team at Pearson has workedclosely with educators around the world to include content which is especiallyrelevant to students outside the United States. Forundergraduate courses in corporate finance or financial management. Helpstudents practic...
| Autor principal: | |
|---|---|
| Otros Autores: | , |
| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
Harlow :
Pearson Education, Limited
2022.
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| Edición: | 5th ed |
| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009771833406719 |
Tabla de Contenidos:
- Cover
- Title
- Copyright
- Dedication
- Brief Contents
- Detailed Contents
- About the Authors
- Bridging Theory and Practice
- Applications That Reflect Real Practice
- Teaching Every Student to Think Finance
- Practice Finance to Learn Finance
- Preface
- Part 1: Introduction
- Chapter 1. Corporate Finance and the Financial Manager
- 1.1 Why Study Finance?
- 1.2 The Four Types of Firms
- Sole Proprietorships
- Partnerships
- Limited Liability Companies
- Corporations
- Tax Implications for Corporate Entities
- Corporate Taxation Around the World
- 1.3 The Financial Manager
- Making Investment Decisions
- Global Financial Crisis The Dodd-Frank Act
- Making Financing Decisions
- Managing Short-Term Cash Needs
- The Goal of the Financial Manager
- Shareholder Value Versus Stakeholder Value
- 1.4 The Financial Manager's Place in the Corporation
- The Corporate Management Team
- Ethics and Incentives in Corporations
- Global Financial Crisis The Dodd-Frank Act on Corporate Compensation and Governance
- Citizens United v. Federal Election Commission
- 1.5 The Stock Market
- The Largest Stock Markets
- Primary Versus Secondary Markets
- Traditional Trading Venues
- Interview With Frank Hatheway
- New Competition and Market Changes
- Dark Pools
- Listing Standards
- Other Financial Markets
- NYSE, BATS, DJIA, S&
- P 500: Awash in Acronyms
- 1.6 Financial Institutions
- The Financial Cycle
- Types of Financial Institutions
- Role of Financial Institutions
- Summary
- Problems
- Chapter 2. Introduction to Financial Statement Analysis
- 2.1 Firms' Disclosure of Financial Information
- Preparation of Financial Statements
- I nternational Financial Reporting Standards
- Interview With Ruth Porat
- Types of Financial Statements
- 2.2 The Balance Sheet
- Assets
- Liabilities.
- Stockholders' Equity
- Market Value Versus Book Value
- Market-to-Book Ratio
- Enterprise Value
- 2.3 The Income Statement
- Earnings Calculations
- EBITDA
- 2.4 The Statement of Cash Flows
- Operating Activity
- Investment Activity
- Financing Activity
- 2.5 Other Financial Statement Information
- Statement of Stockholders' Equity
- Management Discussion and Analysis
- Notes to the Financial Statements
- 2.6 Financial Statement Analysis
- Profitability Ratios
- Liquidity Ratios
- Asset Efficiency
- Working Capital Ratios
- Interest Coverage Ratios
- Leverage Ratios
- Valuation Ratios
- Common Mistake Mismatched Ratios
- Operating Returns
- The DuPont Identity
- 2.7 Financial Reporting in Practice
- Enron
- The Sarbanes-Oxley Act
- Dodd-Frank Act
- Global Financial Crisis Bernard Madoff's Ponzi Scheme
- The Financial Statements: A Useful Starting Point
- Summary
- Critical Thinking
- Problems
- Data Case
- Part 2: Interest Rates and Valuing Cash Flows
- Chapter 3. Time Value of Money: An Introduction
- 3.1 Cost-Benefit Analysis
- Role of the Financial Manager
- Quantifying Costs and Benefits
- 3.2 Market Prices and the Valuation Principle
- The Valuation Principle
- Why There Can Be Only One Competitive Price for a Good
- Your Personal Financial Decisions
- 3.3 The Time Value of Money and Interest Rates
- The Time Value of Money
- The Interest Rate: Converting Cash Across Time
- Timelines
- 3.4 Valuing Cash Flows at Different Points in Time
- Rule 1: Comparing and Combining Values
- Common Mistake Summing Cash Flows Across Time
- Rule 2: Compounding
- Rule of 72
- Rule 3: Discounting
- Using a Financial Calculator
- Summary
- Critical Thinking
- Problems
- Chapter 4. Time Value of Money: Valuing Cash Flow Streams
- 4.1 Valuing a Stream of Cash Flows.
- Applying the Rules of Valuing Cash Flows to a Cash Flow Stream
- Using a Financial Calculator: Solving for Present and Future Values of Cash Flow Streams
- 4.2 Perpetuities
- Perpetuities
- Historical Examples of Perpetuities
- Common Mistake Discounting One Too Many Times
- 4.3 Annuities
- Present Value of an Annuity
- Future Value of an Annuity
- 4.4 Growing Cash Flows
- Growing Perpetuity
- Growing Annuity
- 4.5 Solving for Variables Other Than Present Value or Future Value
- Solving for the Cash Flows
- Rate of Return
- Solving for the Number of Periods
- 4.6 Non-Annual Cash Flows
- The Big Picture
- Summary
- Critical Thinking
- Problems
- Data Case
- Chapter 4 Appendix Using a Financial Calculator
- Chapter 5. Interest Rates
- 5.1 Interest Rate Quotes and Adjustments
- The Effective Annual Rate
- Adjusting the Discount Rate to Different Time Periods
- Annual Percentage Rates
- Common Mistake Using the EAR in the Annuity Formula
- 5.2 Application: Discount Rates and Loans
- Computing Loan Payments
- Global Financial Crisis Teaser Rates and Subprime Loans
- Computing the Outstanding Loan Balance
- 5.3 The Determinants of Interest Rates
- Inflation and Real Versus Nominal Rates
- Investment and Interest Rate Policy
- How Is Inflation Actually Calculated?
- The Yield Curve and Discount Rates
- Interview With Dr. Janet Yellen
- Common Mistake Using the Annuity Formula When Discount Rates Vary
- The Yield Curve and the Economy
- 5.4 The Opportunity Cost of Capital
- Interest Rates, Discount Rates, and the Cost of Capital
- Common Mistake States Dig a 3 Trillion Hole by Discounting at the Wrong Rate
- Summary
- Critical Thinking
- Problems
- Chapter 6. Bonds
- 6.1 Bond Terminology
- 6.2 Zero-Coupon Bonds
- Zero-Coupon Bond Cash Flows
- Yield to Maturity of a Zero-Coupon Bond.
- Global Financial Crisis Negative Bond Yields
- Risk-Free Interest Rates
- 6.3 Coupon Bonds
- Coupon Bond Cash Flows
- The U.S. Treasury Market
- Yield to Maturity of a Coupon Bond
- Finding Bond Prices on the Web
- Coupon Bond Price Quotes
- 6.4 Why Bond Prices Change
- Interest Rate Changes and Bond Prices
- Time and Bond Prices
- Interest Rate Risk and Bond Prices
- Clean and Dirty Prices for Coupon Bonds
- Bond Prices in Practice
- 6.5 Corporate Bonds
- Credit Risk
- Are Treasuries Really Default-Free Securities?
- Interview With Lisa Black
- Corporate Bond Yields
- Bond Ratings
- Corporate Yield Curves
- The Credit Crisis and Bond Yields
- Summary
- Critical Thinking
- Problems
- Data Case
- Chapter 6 Appendix A Solving for the Yield to Maturity of a Bond Using a Financial Calculator
- Chapter 6 Appendix B The Yield Curve and the Law of One Price
- Chapter 7. Stock Valuation
- 7.1 Stock Basics
- Stock Market Reporting: Stock Quotes
- Common Stock
- Preferred Stock
- 7.2 The Mechanics of Stock Trades
- 7.3 The Dividend-Discount Model
- A One-Year Investor
- Dividend Yields, Capital Gains, and Total Returns
- A Multiyear Investor
- Dividend-Discount Model Equation
- 7.4 Estimating Dividends in the Dividend-Discount Model
- Constant Dividend Growth
- Dividends Versus Investment and Growth
- Changing Growth Rates
- Common Mistake Forgetting to "Grow" This Year's Dividend
- Value Drivers and the Dividend-Discount Model
- 7.5 Limitations of the Dividend-Discount Model
- Uncertain Dividend Forecasts
- Non-Dividend-Paying Stocks
- 7.6 Share Repurchases and the Total Payout Model
- 7.7 Putting It All Together
- Summary
- Critical Thinking
- Problems
- Part 2 Integrative Case
- Part 3: Valuation and the Firm
- Chapter 8. Investment Decision Rules
- 8.1 The NPV Decision Rule
- Net Present Value.
- The NPV Decision Rule
- 8.2 Using the NPV Rule
- Organizing the Cash Flows and Computing the NPV
- The NPV Profile
- Measuring Sensitivity with IRR
- Alternative Rules Versus the NPV Rule
- 8.3 Alternative Decision Rules
- Using Excel Computing NPV and IRR
- The Payback Rule
- The Internal Rate of Return Rule
- Common Mistake IRR Versus the IRR Rule
- Modified Internal Rate of Return
- Why Do Rules Other Than the NPV Rule Persist?
- 8.4 Choosing Among Projects
- Differences in Scale
- Interview With Dick Grannis
- Timing of the Cash Flows
- 8.5 Evaluating Projects with Different Lives
- Important Considerations When Using the Equivalent Annual Annuity
- 8.6 Choosing Among Projects When Resources Are Limited
- Evaluating Projects with Different Resource Requirements
- 8.7 Putting It All Together
- Summary
- Critical Thinking
- Problems
- Data Case
- Chapter 8 Appendix Creating the NPV Profile Using Excel's Data Table Function
- Chapter 9. Fundamentals of Capital Budgeting
- 9.1 The Capital Budgeting Process
- 9.2 Forecasting Incremental Earnings
- Operating Expenses Versus Capital Expenditures
- Incremental Revenue and Cost Estimates
- Taxes
- Incremental Earnings Forecast
- 9.3 Determining Incremental Free Cash Flow
- Converting from Earnings to Free Cash Flow
- Calculating Free Cash Flow Directly
- Calculating the NPV
- Using Excel Capital Budgeting Using a Spreadsheet Program
- 9.4 Other Effects on Incremental Free Cash Flows
- Opportunity Costs
- Common Mistake The Opportunity Cost of an Idle Asset
- Project Externalities
- Sunk Costs
- Common Mistake The Sunk Cost Fallacy
- Adjusting Free Cash Flow
- Replacement Decisions
- 9.5 Analyzing the Project
- Sensitivity Analysis
- Break-Even Analysis
- Interview With David Holland
- Scenario Analysis
- Using Excel Project Analysis Using Excel.
- 9.6 Real Options in Capital Budgeting.
