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9780470577189

Fundamentals of Corporate Finance

by ;
  • ISBN13:

    9780470577189

  • ISBN10:

    0470577185

  • Format: eBook
  • Copyright: 2009-12-01
  • Publisher: Wiley
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Summary

Parrino/Kidwell, Fundamentals of Corporate Finance offers an innovative integration of conceptual understanding and problem-solving... of intuition and decision-making... of the authors' industry and classroom/research experience...with current real-world examples and online practice. Fundamentals of Corporate Finance helps students develop the intuition and analytical skills necessary to effectively apply financial tools in real-world decision-making situations. Authors Robert Parrino and David Kidwell provide a fully integrated framework for understanding how value creation relates to all aspects of corporate finance; whether it be evaluating an investment opportunity, determining the appropriate financing for a business, or managing working capital. This unique and integrated framework also provides robust coverage of problem solving and decision-making skills.The authors of Fundamentals of Corporate Finance believe that students who understand the intuition underlying the basic concepts of finance are better able to develop the critical judgments necessary to apply financial tools in real-world decision- making situations. This text develops intuitive thinking while simultaneously helping students develop problem solving and computational skills. It then shows students how to apply intuition and analytical skills to decision making while integrating it all with valuation and building shareholder value.

Table of Contents

Introduction
The Financial Manager and the Firm
The Role of the Financial Manager
Forms of Business Organization
Managing the Financial Function
The Goal of the Firm
Agency Conflicts: Separation of Ownership and Control
The Importance of Ethics in Business
Summary of Learning Objectives
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Foundations
The Financial Environment and the Level of Interest Rates
The Financial System
Direct Financing
Types of Financial Markets
The Stock Market
Financial Institutions and Indirect Financing
The Determinants of Interest Rate Levels
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Financial Statements, Cash Flows, and Taxes
Financial Statements and Accounting Principles
The Balance Sheet
Market Value versus Book Value
The Income Statement and the Statement of Retained Earnings
Cash Flows
Tying the Financial Statements Together
Federal Income Tax
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Analyzing Financial Statements
Background for Financial Statement Analysis
Common-Size Financial Statements
Financial Statement Analysis
The DuPont System: A Diagnostic Tool
Selecting a Benchmark
Using Financial Ratios
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Ethics Case: A Sad Tale: The Demise of Arthur Andersen
Valuation of Future Cash Flows and Risk
The Time Value of Money
The Time Value of Money
Future Value and Compounding
Present Value and Discounting
Additional Concepts and Applications
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Discounted Cash Flows and Valuation
Multiple Cash Flows
Level Cash Flows: Annuities and Perpetuities
Cash Flows That Grow at a Constant Rate
The Effective Annual Interest Rate
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Appendix: Deriving the Formula for the Present Value of an Ordinary Annuity
Problem
Ethics Case: Buy It on Credit and Be True to Your School
Risk and Return
Risk and Return
Building Intuition: More Risk Means a Higher Expected Return
Quantitative Measures of Return
The Variance and Standard Deviation as Measures of Risk
Risk and Diversification
Systematic Risk
Compensation for Bearing Systematic Risk
The Capital Asset Pricing Model
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Bond Valuation and the Structure of Interest Rates
Capital Market Efficiency
Efficient Market Hypotheses
Corporate Bonds
Bond Valuation
Bond Yields
Interest Rate Risk
The Structure of Interest Rates
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Stock Valuation
The Market for Stocks
Common Stock Valuation
Stock Valuation: Some Simplifying Assumptions
Valuing Preferred Stock
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Ethics Case: Insider Trading: Have I Got a Stock Tip for You!
Capital Budgeting Decisions
The Fundamentals of Capital Budgeting
An Introduction to Capital Budgeting
Net Present Value
The Payback Period
The Accounting Rate of Return
Internal Rate of Return
Capital Budgeting in Practice
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Cash Flows and Capital Budgeting
Calculating Project Cash Flows
Estimating Cash Flows in Practice
Forecasting Free Cash Flows
Special Cases (Optional)
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Ethics Case: Doing the Right Thing: The Schwan Food Company
Evaluating Project Economics and Capital Rationing
Variable Costs, Fixed Costs, and Project Risk
Calculating Operating Leverage
Break-Even Analysis
Risk Analysis
Investment Decisions with Capital Rationing
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
The Cost of Capital
The Firm's Overall Cost of Capital
The Cost of Debt
The Cost of Equity
Using the WACC in Practice
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Financing Decisions
Working Capital Management
Working Capital Basics
The Operating and Cash Conversion Cycles
Working Capital Investment Strategies
Accounts Receivable
Inventory Management
Cash Management and Budgeting
Financing Working Capital
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
How Firms Raise Capital
Bootstrapping
Venture Capital
Initial Public Offering
IPO Pricing and Cost
General Cash Offer by a Public Company
Private Markets and Bank Loans
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Ethics Case: Profiting from Death: "Janitor's Insurance"
Capital Structure Policy
Capital Structure and Firm Value
The Benefits and Costs of Using Debt
Two Theories of Capital Structure
Practical Considerations in Choosing a Capital Structure
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Dividends and Dividend Policy
Dividends
Stock Repurchases
Dividend Policy and Firm Value
Stock Dividends and Stock Splits
Setting a Dividend Policy
Summary of Learning Objectives
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Business Formation, Valuation, and Financial Planning
Business Formation, Growth, and Valuation
Starting a Business
The Role of the Business Plan
Valuing a Business
Important Issues in Valuation
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Ethics Case: The Subprime Mortgage Market Meltdown: How Did It Happen?
Financial Planning and Forecasting
Financial Planning
Financial Planning Models
A Better Financial Planning Model
Beyond the Basic Planning Models
Managing and Financing Growth
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Valuation and International Decisions
Options and Corporate Finance
Financial Options
Option Valuation
Real Options
Agency Costs
Options and Risk Management
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Ethics Case: Compensation-How Much Is Enough?
International Financial Management
Introduction to International Finance Management
Foreign Exchange Markets
International Capital Budgeting
Global Money and Capital Markets
International Banking
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Solutions to Self-Study Problems
Critical Thinking Questions
Questions and Problems
Sample Test Problems
Table of Contents provided by Publisher. All Rights Reserved.

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