Corporate Financial Management

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.

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Autorentext
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.

Klappentext
'The book combines academic rigour (in the explanation of theory) with practical application (explaining how companies apply theory in real life). There are lots of numerical examples to help with understanding of the concepts covered.' Dr Rob Jones, Newcastle University Business School   The sixth edition of this highly respected text is comprehensive yet accessible, with real-world case studies to ground you in the application of important concepts.
Written with authority by authors steeped in the financial world, the book offers a comprehensive survey of the theory and practice of corporate finance for anyone studying the topic by itself or within business, accounting, finance, banking or economics courses, teaching you how to make informed, successful financial decisions that are crucial for a career in business.
It explores topics such as investment appraisal, risk and return, sources of finance, and risk management, including derivatives, and gives a unique treatment of corporate value.
Key features Financial techniques are illustrated in practical terms, using clear accessible language. New Financial Times articles help you see the relevance of the theory to the real world Finance is presented as a dynamic subject that is open to theoretical re-evaluation  Extensive range of examples and case studies, with statistics and data ranging from the number of corporate mergers to the default rates on corporate bonds Easy-to-follow mathematical explanations 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 Director of Studies for the Bath MBA programme, which features in the top 100 of the FT Global MBA 2018 Ranking, she ensures the material is useful for both the student and the practitioner. Deb's previous commercial experience allows her to blend academic theory with professional application.   
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Zusammenfassung
Support your teaching in Corporate Finance with a complete guide in the field. Corporate Financial Management, 6th edition is the latest version of this leading text that will support your teaching in Corporate Finance. With a variety of existing and updated features, this must-have edition will prepare your students for the real financial world.

Inhalt
Brief contents Topics covered in the book xxi Introduction to the book xxiii Acknowledgements xxix Part 1 Introduction 1 The financial world 2 Part 2 The investment decision 49 Project appraisal: net present value and internal rate of return 50 Project appraisal: cash flow and applications 89 The decision-making process for investment appraisal 125 Project appraisal: capital rationing, taxation and inflation 151 Part 3 Risk and return 173 Risk and project appraisal 174 Portfolio theory 222 The Capital Asset Pricing Model and multi-factor models 268 Part 4 Sources of finance 327 Stock markets 328 Raising equity capital 365 Long-term debt finance 422 Short- and medium-term finance, treasury and working capital management 474 Stock market efficiency 542 Part 5 Corporate value 611 Value-based management 612 Value-creation metrics 658 The cost of capital 704 Valuing shares 738 Capital structure 787 Dividend policy 840 Mergers 868 Part 6 Managing risk 927 Derivatives 928 Managing exchange-rate risk 974 Appendices A:1 Future value of £1 at compound interest A:2 Present value of £1 at compound interest A:3 Present value of an annuity of £1 at compound interest A:4 Future value of an annuity of £1 at compound inte…

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