Principles of corporate finance

Stewart C. Myers, Richard Brealey

1068 pages, parution le 31/10/2002 (7^eme édition)

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Résumé

Brealey/Myers' Principles of Corporate Finance is the worldwide leading text that describes the theory and practice of corporate finance. Throughout the book the authors show how managers use financial theory to solve practical problems and as a way of learning how to respond to change by showing not just how but why companies and management act as they do. The text is comprehensive, authoritative, and modern and yet the material is presented at a common sense level. The discussions and illustrations are unique due to the depth of detail blended with a distinct sense of humor for which the book is well known and highly regarded. This text is a valued reference for thousands of practicing financial managers.

New to this edition :

Ethics in Finance Powerweb is bundled free with each new text. This online resource provides news articles and essays that complement the textbook and your course. It is an easy way to keep current on real-world applications related to ethical situations in finance. In addition to many reviewed articles, Ethics in Finance Powerweb also offers current news, weekly updates with assessments, interactive exercises, Web research guide, study tips, and more! Visit http://www.dushkin.com/powerweb for more information.
The Seventh Edition includes a greater emphasis on the Internet, with web addresses provided for real world applications of the related topics. The web addresses appear after "Further Readings" in the end of chapter materials, and also appear within chapter footnotes. Some end of chapter problems will feature web applications, and the address is provided in a different color.
Substantially Revised content on Options in Part VI - coverage of options, especially real options, has been expanded and restructured. A non-technical introduction to real options appears in Chapter 10 (A Product is Not a Black Box); Chapter 20 (Understanding Options) describes how options work, and what determines their values. Chapter 21 (Valuing Options) covers option valuation methods. Chapter 22 (Real Options) covers real options in detail, with may additional examples to help students understand this concept thoroughly.
S&P Market Insight Problems are included in end of chapter questions. These problems require the use of the Educational Version of Market Insight, taking advantage of Standard & Poor's powerful and well-known Compustat database. These problems provide instructors with an easy, online way to incorporate current, real-world data into the classroom. Access to this rich online resource is FREE with every new copy of the book.
In response to instructor requests, even more global coverage is integrated throughout the chapters. For example, Chapter 3 includes examples of different countries' interest rates; Chapter 7 includes a discussion of how diversification acts internationally; Chapter 14 provides international comparisons and why debts vary. For convenience, a new Global Index has been created for faculty interested in finding global content and examples.
Every chapter has been reviewed and revised to make this text the clearest and most up to date text available. For example, Chapter 7 (Introduction to Risk, Return, and the Opportunity Cost of Capital) includes new evidence on the market risk premium; Chapter 12, Where Positive Net Present Values Come From, includes expanded coverage of EVA (Economic Value Added). Chapter 13 (Financing Decisions and Market Efficiency) includes updated information on the volatile 2000/2001 market activity, as well as more information on behavioral finance and its effects on market movement; Chapter 15 (How Corporations Issue Securities) includes coverage of changing issue methods, such as book building, and recent IPO controversies; Chapters 25 & 26 (The Many Different Kinds of Debt and Leasing) includes information on new security types, such as weather derivatives and bonds; Chapter 33 (Mergers) covers changes in merger accounting; Chapter 34 (Control, Governance, and Financial Architecture) details changes in corporate governance in Europe and Japan.
Chapter 14 (An Overview of Corporate Financing) is now a self-standing introduction to corporate financing, including sources of funds, major types of debt and equity securities, and markets and financial institutions.
Chapter 24 (Valuing Debt) has been streamlined and simplified. This material is especially important for practicing financial managers.
The chapters on working capital and short-term financial management have been rearranged; emphasis is on essential institutional information and the most important short-term financial decisions.
There is an additional minicase on capital budgeting in Chapter 5. All minicases have new specific questions that follow each case. Some of the minicases are Internet based, and require students to use the web to solve the problem. The minicases are a popular feature that helps students apply theory to real-world situations.

Value
- Finance and the Financial Manager
- Present Value and the Opportunity Cost of Capital
- How to Calculate Present Values
- The Value of Common Stocks
- Why Net Present Value Leads to Better Investment
- Decisions Than Other Criteria
- Making Investment Decisions with the Net Present Value Rule
Risk
- Introduction to Risk, Return, and the Opportunity Cost of Capital
- Risk and Return
- Capital Budgeting and Risk
Practical Problems in Capital Budgeting
- A Project is Not a Black Box
- Where Positive Net Present Values Come From
- Making Sure Managers Maximize NPV
Financing Decisions and Market Efficiency
- Corporate Financing and the Six Lessons of Market Efficiency
- An Overview of Corporate Financing
- How Corporations Issue Securities
Dividend Policy and Capital Structure
- The Dividend Controversy
- Does Debt Policy Matter?
- How Much Should a Firm Borrow?
- Financing and Valuation
Options
- Understanding Options
- Valuing Options
- Real Options
- Warrants and Convertibles
Debt Financing
- Valuing Debt
- The Many Different Kinds of Debt
- Leasing
Risk Management
- Managing Risk
- Managing International Risks
Financial Planning and Short-Term Financial Management
- Financial Analysis and Planning
- Short-Term Financial Planning
- Cash Management
- Credit Management
Mergers, Corporate Control, and Governance
- Mergers
- Control, Governance, and Financial Architecture
Conclusions
- Conclusion: What We Do and Do Not Know About Finance

Caractéristiques techniques

	PAPIER
Éditeur(s)	Mc Graw Hill
Auteur(s)	Stewart C. Myers, Richard Brealey
Parution	31/10/2002
Édition	7^eme édition
Nb. de pages	1068
Format	20 x 26,5
Couverture	Broché
Poids	1910g
Intérieur	2 couleurs
EAN13	9780071151450