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Corporate Financial Management

Corporate Financial Management - 2nd edition

ISBN13: 978-0130832269

Cover of Corporate Financial Management 2ND 04 (ISBN 978-0130832269)
ISBN13: 978-0130832269
ISBN10: 013083226X
Cover type:
Edition/Copyright: 2ND 04
Publisher: Prentice Hall, Inc.
Published: 2004
International: No

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Corporate Financial Management - 2ND 04 edition

ISBN13: 978-0130832269

Douglas Emery, John Finnerty and John Stowe

ISBN13: 978-0130832269
ISBN10: 013083226X
Cover type:
Edition/Copyright: 2ND 04
Publisher: Prentice Hall, Inc.

Published: 2004
International: No

MBA and intermediate undergraduate-level corporate finance or financial management courses.

The authors different points of view offers students the benefits of a researcher, a practitioner, and an effective classroom instructor and, thus, is designed to help students develop financial intuition and make better decisions. It modernizes the teaching of finance by integrating the major developments made in finance in the last twenty years, such as options, agency theory and new research about the impact of asymmetric information. The organization weaves new material into the numerous examples and the traditional presentations. This edition reflects changes within the corporate world and the issues students encounter today.


  • NEW--More user-friendly design and layout--e.g. Streamlined and improved discussions of material.
    • Provides students with a text that is easier and more interesting to use.
  • NEW--Reorganized to facilitate course coverage--e.g. Capital budgeting is covered earlier in the book.
    • Provides students with a more modernized approach to learning finance.
  • NEW--Mini cases have direct applications to chapter material.
    • Provides students with real world examples of chapter concepts so that they can see the concepts in action.
  • NEW--Expanded and reorganized end-of-chapter material.
    • Facilitates students' understanding of the material presented.
  • NEW--Questions and Problems separated and organized into different levels--Questions into two levels and problems into three levels.
    • Enables students and instructors to determine appropriate material to review more efficiently.
  • NEW--Examples, tables and figures updated.
    • Provides students with reinforcement of current laws, regulations and data.
  • Twelve basic principles of finance--i.e. Self-Interested Behavior, Risk-Return Trade-Off, Signaling, and Capital Market Efficiency.
    • Helps students develop financial intuition and make better decisions.
  • Valuation concepts applied to all topics--e.g. Net present value, and required, expected, and realized rates of return.
    • Familiarizes students with concepts as they relate to all topics, not just capital budgeting.
  • Real-world examples integrated throughout--e.g. Chrysler's poison pill, the Baring's Bank failure, Gibson Greeting's treasury-linked swap, GE's stock split, Eurotunnel's rights offerings, the Green Canyon Project, and Netscape's IPO.
    • Offers students a look into real world applications of concepts presented.
  • Principal-agent problems in financial contracting.
    • Familiarizes students with the existence of information asymmetries and the agency problems it creates, and highlights the important insights gained from this material that can be used to solve many practical problems.
  • Option concepts presented in broad terms--Financial contracting, capital budgeting and capital structure.
    • Enables students to apply important insight of option theory to a wide variety of topics.
  • Practitioner's perspective--Author's 30 years of experience provides a unique perspective.
    • Provides students with a real world perspective to finance.
  • Internationalization of finance.
    • Provides students with concepts and principles that are readily applicable to international transactions.
  • Financial calculator procedures.
    • Encourage students to practice calculations presented.
  • Intuitive treatment of options.
    • Minimizes students' need for complex mathematical formulas so they can focus on the concepts rather than mathematical problems.
  • Principles of Finance boxes.
    • Shows students how particular finance principles apply to the chapter material and sets the stage for the material to follow.
  • Extensive examples.
    • Provides students with illustrated concepts, as well as the computational details needed to apply the concepts.
  • Review Questions and Chapter Summaries conclude each chapter.
    • Provides students with tools to refresh their memory and review material.
  • End-of-Chapter Practice Problems--Level A problems are basic; Level B problems relate closely to chapter material; Level C problems include complex situations, puzzles or examination of subtle implications.
    • Challenges students to think and reinforces the retention of important concepts.
  • Principles Boxes in each chapter introduction.
    • Provides students with financial principles that are most relevant to the chapter.
  • End-of-Chapter questions divided into two groups.
    • Provides students with thinking tools that encourage them to think about the material presented.
  • Decision Summary Boxes and Equation Summaries Boxes.
    • Provides students with highlights of the important material and equations in each chapter.
  • New terms and jargon.
    • Provides students with repetition of definitions to minimize their effort wasted in looking up definitions.

Table of Contents


1. Introduction and Overview.
2. The Financial Environment: Concepts and Principles.
3. Accounting, Cash Flows, and Taxes.


4. The Time Value of Money.
5. Valuing Bonds and Stocks.
6. Business Investment Rules.
7. Capital Budgeting Cash Flow.
8. Capital Budgeting in Practice.


9. Risk and Return: Stocks.
10. Risk and Return: Asset Pricing Models.
11. Risk, Return, and Capital Budgeting.
12. Risk, Return, and Contingent Outcomes.
13. Risk, Return, and Agency Theory.


14. Capital Market Efficiency: Explanation & Implications.
15. Capital Structure Policy.
16. Managing Capital Structure.
17. Dividend Policy.


18. Issuing Securities and the Role of Investment Banking.
19. Long-Term Debt.
20. Leasing and Other Asset-Based Financing.
21. Derivatives and Hedging.


22. Cash and Working Capital Management.
23. Accounts Receivable and Inventory.
24. Financial Planning.


25. Mergers and Acquisitions.
26. Financial Distress.
27. International Corporate Finance.

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