skip to content
Corporate finance Preview this item
ClosePreview this item
Checking...

Corporate finance

Author: Stephen A Ross; Randolph Westerfield; Jeffrey F Jaffe
Publisher: New York, NY : McGraw-Hill/Irwin, [2013] ©2013
Series: McGraw-Hill/Irwin series in finance, insurance, and real estate.
Edition/Format:   Print book : English : 10th editionView all editions and formats
Summary:
This text has always led the way in innovative coverage and technology, and the Tenth Edition is no exception. Several chapters have been extensively rewritten to incorporate the many exciting new research findings in corporate finance.
Rating:

based on 1 rating(s) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Document Type: Book
All Authors / Contributors: Stephen A Ross; Randolph Westerfield; Jeffrey F Jaffe
ISBN: 9780078034770 0078034779
OCLC Number: 789149025
Description: xxxvi, 1030 pages : color illustrations ; 26 cm.
Contents: Machine generated contents note: pt. I Overview --
ch. 1 Introduction to Corporate Finance --
1.1. What Is Corporate Finance? --
The Balance Sheet Model of the Firm --
The Financial Manager --
1.2. The Corporate Firm --
The Sole Proprietorship --
The Partnership --
The Corporation --
A Corporation by Another Name --
1.3. The Importance of Cash Flows --
1.4. The Goal of Financial Management --
Possible Goals --
The Goal of Financial Management --
A More General Goal --
1.5. The Agency Problem and Control of the Corporation --
Agency Relationships --
Management Goals --
Do Managers Act in the Stockholders' Interests? --
Stakeholders --
1.6. Regulation --
The Securities Act of 1933 and the Securities Exchange Act of 1934 --
Sarbanes-Oxley --
Summary and Conclusions --
Concept Questions --
ch. 2 Financial Statements and Cash Flow --
2.1. The Balance Sheet --
Liquidity --
Debt versus Equity --
Value versus Cost --
2.2. The Income Statement --
Generally Accepted Accounting Principles --
Noncash Items --
Time and Costs --
2.3. Taxes --
Corporate Tax Rates --
Average versus Marginal Tax Rates --
2.4. Networking Capital --
2.5. Financial Cash Flow --
2.6. The Accounting Statement of Cash Flows --
Cash Flow from Operating Activities --
Cash Flow from Investing Activities --
Cash Flow from Financing Activities --
2.7. Cash Flow Management --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: Cash Flows at Warf Computers, Inc. --
ch. 3 Financial Statements Analysis and Financial Models --
3.1. Financial Statements Analysis --
Standardizing Statements --
Common-Size Balance Sheets --
Common-Size Income Statements --
3.2. Ratio Analysis --
Short-Term Solvency or Liquidity Measures --
Long-Term Solvency Measures --
Asset Management or Turnover Measures --
Profitability Measures --
Market Value Measures --
3.3. The DuPont Identity --
A Closer Look at ROE --
Problems with Financial Statement Analysis --
3.4. Financial Models --
A Simple Financial Planning Model --
The Percentage of Sales Approach --
3.5. External Financing and Growth --
EFN and Growth --
Financial Policy and Growth --
A Note about Sustainable Growth Rate Calculations --
3.6. Some Caveats Regarding Financial Planning Models --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: Ratios and Financial Planning at East Coast Yachts --
pt. II Valuation and Capital Budgeting --
ch. 4 Discounted Cash Flow Valuation --
4.1. Valuation: The One-Period Case --
4.2. The Multiperiod Case --
Future Value and Compounding --
The Power of Compounding; A Digression --
Present Value and Discounting --
Finding the Number of Periods --
The Algebraic Formula --
4.3. Compounding Periods --
Distinction between Stated Annual Interest Rate and Effective Annual Pate --
Compounding over Many Years --
Continuous Compounding --
4.4. Simplifications --
Perpetuity --
Growing Perpetuity --
Annuity --
Growing Annuity --
4.5. Loan Amortization --
4.6. What Is a Firm Worth? --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: The MBA Decision --
Appendix 4A Net Present Value: First Principles of Finance --
Appendix 4B Using Financial Calculators --
ch. 5 Net Present Value and Other Investment Rules --
5.1. Why Use Net Present Value? --
5.2. The Payback Period Method --
Defining the Rule --
Problems with the Payback Method --
Managerial Perspective --
Summary of Payback --
5.3. The Discounted Payback Period Method --
5.4. The Internal Rate of Return --
5.5. Problems with the IRR Approach --
Definition of Independent and Mutually Exclusive Projects --
Two General Problems Affecting Both Independent and Mutually Exclusive Projects --
Problems Specific to Mutually Exclusive Projects --
Redeeming Qualities of IRR --
A Test --
5.6. The Profitability Index --
Calculation of Profitability Index --
5.7. The Practice of Capital Budgeting --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: Bullock Gold Mining --
ch. 6 Making Capital Investment Decisions --
6.1. Incremental Cash Flows: The Key to Capital Budgeting --
Cash Flows --
Not Accounting Income --
Sunk Costs --
Opportunity Costs --
Side Effects --
Allocated Costs --
6.2. The Baldwin Company: An Example --
An Analysis of the Project --
Which Set of Books? --
A Note about Networking Capital --
A Note about Depreciation --
Interest Expense --
6.3. Inflation and Capital Budgeting --
Interest Rates and Inflation --
Cash Flow and Inflation --
Discounting; Nominal or Real? --
6.4. Alternative Definitions of Operating Cash Flow --
The Top-Down Approach --
The Bottom-Up Approach --
The Tax Shield Approach --
Conclusion --
6.5. Some Special Cases of Discounted Cash Flow Analysis --
Evaluating Cost-Cutting Proposals --
Setting the Bid Price --
Investments of Unequal Lives: The Equivalent Annual Cost Method --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Cases: Bethesda Mining Company --
Goodweek Tires, Inc. --
ch. 7 Risk Analysis, Real Options, and Capital Budgeting --
7.1. Sensitivity Analysis, Scenario Analysis, and Break-Even Analysis --
Sensitivity Analysis and Scenario Analysis --
Break-Even Analysis --
7.2. Monte Carlo Simulation --
Step 1 Specify the Basic Model --
Step 2 Specify a Distribution for Each Variable in the Model --
Step 3 The Computer Draws One Outcome --
Step 4 Repeat the Procedure --
Step 5 Calculate NPV --
7.3. Real Options --
The Option to Expand --
The Option to Abandon --
Timing Options --
7.4. Decision Trees --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: Bunyan Lumber; LLC --
ch. 8 Interest Rates and Bond Valuation --
8.1. Bonds and Bond Valuation --
Bond Features and Prices --
Bond Values and Yields --
Interest Rate Risk --
Finding the Yield to Maturity: More Trial and Error- --
Zero Coupon Bonds --
8.2. Government and Corporate Bonds --
Government Bonds --
Corporate Bonds --
Bond Ratings --
8.3. Bond Markets --
How Bonds Are Bought and Sold --
Bond Price Reporting --
A Note on Bond Price Quotes --
8.4. Inflation and Interest Rates --
Real versus Nominal Rates --
Inflation Risk and Inflation-Linked Bonds --
The Fisher Effect --
8.5. Determinants of Bond Yields --
The Term Structure of Interest Rates --
Bond Yields and the Yield Curve: Putting It All Together --
Conclusion --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: Financing East Coast Yachts's Expansion Plans with a Bond Issue --
ch. 9 Stock Valuation --
9.1. The Present Value of Common Stocks --
Dividends versus Capital Gains --
Valuation of Different Types of Stocks --
9.2. Estimates of Parameters in the Dividend Discount Model --
Where Does g Come From? --
Where Does R Come From? --
A Healthy Sense of Skepticism --
Dividends or Earnings: Which to Discount? --
The No-Dividend Firm --
9.3. Growth Opportunities --
NPVGOs of Real-World Companies --
Growth in Earnings and Dividends versus Growth Opportunities --
9.4. Comparables --
Price-to-Earnings Ratio --
Enterprise Value Ratios --
9.5. Valuing the Entire Firm --
9.6. The Stock Markets --
Dealers and Brokers --
Organization of the NYSE --
NASDAQ Operations --
Stock Market Reporting --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: Stock Valuation at Ragan Engines --
pt. III Risk --
ch. 10 Risk and Return: Lessons from Market History --
10.1. Returns --
Dollar Returns --
Percentage Returns --
10.2. Holding Period Returns --
10.3. Return Statistics --
10.4. Average Stock Returns and Risk-Free Returns --
10.5. Risk Statistics --
Variance --
Normal Distribution and Its Implications for Standard Deviation --
10.6. More on Average Returns --
Arithmetic versus Geometric Averages --
Calculating Geometric Average Returns --
Arithmetic Average Return or Geometric Average Return? --
10.7. The U.S. Equity Risk Premium: Historical and International Perspectives --
10.8. 2008: A Year of Financial Crisis --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: A Job at East Coast Yachts --
ch. 11 Return and Risk: The Capital Asset Pricing Model (CAPM) --
11.1. Individual Securities --
11.2. Expected Return, Variance, and Covariance --
Expected Return and Variance --
Covariance and Correlation --
11.3. The Return and Risk for Portfolios --
The Expected Return on a Portfolio --
Variance and Standard Deviation of a Portfolio --
11.4. The Efficient Set for Two Assets --
11.5. The Efficient Set for Many Securities --
Variance and Standard Deviation in a Portfolio of Many Assets --
11.6. Diversification --
The Anticipated and Unanticipated Components of News --
Risk: Systematic and Unsystematic --
The Essence of Diversification --
11.7. Riskless Borrowing and Lending --
The Optimal Portfolio --
11.8. Market Equilibrium --
Definition of the Market Equilibrium Portfolio --
Definition of Risk When Investors Hold the Market Portfolio --
The Formula for Beta --
A Test --
11.9. Relationship between Risk and Expected Return (CAPM) --
Expected Return on Market Note continued: Expected Return on Individual Security --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: A Job at East Coast Yachts, Part 2 --
Appendix 11A Is Beta Dead? --
ch. 12 An Alternative View of Risk and Return: The Arbitrage Pricing Theory --
12.1. Introduction --
12.2. Systematic Risk and Betas --
12.3. Portfolios and Factor Models --
Portfolios and Diversification --
12.4. Betas, Arbitrage, and Expected Returns --
The Linear Relationship --
The Market Portfolio and the Single Factor --
12.5. The Capital Asset Pricing Model and the Arbitrage Pricing Theory --
Differences in Pedagogy --
Differences in Application --
12.6. Empirical Approaches to Asset Pricing --
Empirical Models --
Style Portfolios --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: The Fama-French Multifactor Model and Mutual Fund Returns --
ch. 13 Risk, Cost of Capital, and Valuation --
13.1. The Cost of Capital --
13.2. Estimating the Cost of Equity Capital with the CAP M --
The Risk-Free Rate --
Market Risk Premium --
13.3. Estimation of Beta --
Real-World Betas --
Stability of Beta --
Using an Industry Beta --
13.4. Determinants of Beta --
Cyclically of Revenues --
Operating Leverage --
Financial Leverage and Beta --
13.5. The Dividend Discount Model Approach --
Comparison of DDM and CAPM --
13.6. Cost of Capital for Divisions and Projects --
13.7. Cost of Fixed Income Securities --
Cost of Debt --
Cost of Preferred Stock --
13.8. The Weighted Average Cost of Capital --
13.9. Valuation with RWACC --
Project Evaluation and the RWACC --
Firm Valuation with the RWACC --
13.10. Estimating Eastman Chemical's Cost of Capital --
13.11. Flotation Costs and the Weighted Average Cost of Capital --
The Basic Approach --
Flotation Costs and NPV --
Internal Equity and Flotation Costs --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: The Cost of Capital for Goff Computer, Inc. --
Appendix 13A Economic Value Added and the Measurement of Financial Performance --
pt. IV Capital Structure and Dividend Policy --
ch. 14 Efficient Capital Markets and Behavioral Challenges --
14.1. Can Financing Decisions Create Value? --
14.2. A Description of Efficient Capital Markets --
Foundations of Market Efficiency --
14.3. The Different Types of Efficiency --
The Weak Form --
The Semistrong and Strong Forms --
Some Common Misconceptions about the Efficient Market Hypothesis --
14.4. The Evidence --
The Weak Form --
The Semistrong Form --
The Strong Form --
14.5. The Behavioral Challenge to Market Efficiency --
14.6. Empirical Challenges to Market Efficiency --
14.7. Reviewing the Differences --
14.8. Implications for Corporate Finance --
1. Accounting Choices, Financial Choices, and Market Efficiency --
2. The Timing Decision --
3. Speculation and Efficient Markets --
4. Information in Market Prices --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: Your 401(k) Account at East Coast Yachts --
ch. 15 Long-Term Financing: An Introduction --
15.1. Some Features of Common and Preferred Stocks --
Common Stock Features --
Preferred Stock Features --
15.2. Corporate Long-Term Debt --
Is It Debt or Equity? --
Long-Term Debt: The Basics --
The Indenture --
15.3. Some Different Types of Bonds --
Floating-Rate Bonds --
Other Types of Bonds --
15.4. Bank Loans --
15.5. International Bonds --
15.6. Patterns of Financing --
15.7. Recent Trends in Capital Structure --
Which Are Best: Book or Market Values? --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
ch. 16 Capital Structure: Basic Concepts --
16.1. The Capital Structure Question and the Pie Theory --
16.2. Maximizing Firm Value versus Maximizing Stockholder Interests --
16.3. Financial Leverage and Firm Value: An Example --
Leverage and Returns to Shareholders --
The Choice between Debt and Equity --
A Key Assumption --
16.4. Modigliani and Miller: Proposition II (No Taxes) --
Risk to Equityholders Rises with Leverage --
Proposition II: Required Return to Equityholders Rises with Leverage --
MM: An Interpretation --
16.5. Taxes --
The Basic Insight --
Present Value of the Tax Shield --
Value of the Levered Firm --
Expected Return and Leverage under Corporate Taxes --
The Weighted Average Cost of Capital, RWACC, and Corporate Taxes --
Stock Price and Leverage under Corporate Taxes --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: Stephenson Real Estate Recapitalization --
ch. 17 Capital Structure: Limits to the Use of Debt --
17.1. Costs of Financial Distress --
Bankruptcy Risk or Bankruptcy Cost? --
17.2. Description of Financial Distress Costs --
Direct Costs of Financial Distress: Legal and Administrative Costs of Liquidation or Reorganization --
Indirect Costs of Financial Distress --
Agency Costs --
17.3. Can Costs of Debt Be Reduced? --
Protective Covenants --
Consolidation of Debt --
17.4. Integration of Tax Effects and Financial Distress Costs --
Pie Again --
17.5. Signaling --
17.6. Shirking, Perquisites, and Bad Investments: A Note on Agency Cost of Equity --
Effect of Agency Costs of Equity on Debt-Equity Financing --
Free Cash Flow --
17.7. The Pecking-Order Theory --
Rules of the Pecking Order --
Implications --
17.8. Personal Taxes --
The Basics of Personal Taxes --
The Effect of Personal Taxes on Capital Structure --
17.9. How Firms Establish Capital Structure --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: McKenzie Corporation's Capital Budgeting --
Appendix 17A Some Useful Formulas of Financial Structure --
Appendix 17B The Miller Model and the Graduated Income Tax --
ch. 18 Valuation and Capital Budgeting for the Levered Firm --
18.1. Adjusted Present Value Approach --
18.2. Flow to Equity Approach --
Step 1 Calculating Levered Cash Flow (LCF) --
Step 2 Calculating Rs --
Step 3 Valuation --
18.3. Weighted Average Cost of Capital Method --
18.4. A Comparison of the APV, FTE, and WACC Approaches --
A Suggested Guideline --
18.5. Valuation When the Discount Rate Must Be Estimated --
18.6. APV Example --
18.7. Beta and Leverage --
The Project Is Not Scale Enhancing --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: The Leveraged Buyout of Cheek Products, Inc. --
Appendix 18A The Adjusted Present Value Approach to Valuing Leveraged Buyouts --
ch. 19 Dividends and Other Payouts --
19.1. Different Types of Payouts --
19.2. Standard Method of Cash Dividend Payment --
19.3. The Benchmark Case: An Illustration of the Irrelevance of Dividend Policy --
Current Policy: Dividends Set Equal to Cash Flow --
Alternative Policy: Initial Dividend Is Greater Than Cash Flow --
The Indifference Proposition --
Homemade Dividends --
A Test --
Dividends and Investment Policy --
19.4. Repurchase of Stock --
Dividend versus Repurchase: Conceptual Example --
Dividends versus Repurchases: Real-World Considerations --
19.5. Personal Taxes, Dividends, and Stock Repurchases --
Firms without Sufficient Cash to Pay a Dividend --
Firms with Sufficient Cash to Pay a Dividend --
Summary of Personal Taxes --
19.6. Real-World Factors Favoring a High-Dividend Policy --
Desire for Current Income --
Behavioral Finance --
Agency Costs --
Information Content of Dividends and Dividend Signaling --
19.7. The Clientele Effect: A Resolution of Real-World Factors? --
19.8. What We Know and Do Not Know about Dividend Policy --
Corporate Dividends Are Substantial --
Fewer Companies Pay Dividends --
Corporations Smooth Dividends --
Some Survey Evidence about Dividends --
19.9. Putting It All Together --
19.10. Stock Dividends and Stock Splits --
Some Details about Stock Splits and Stock Dividends --
Value of Stock Splits and Stock Dividends --
Reverse Splits --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: Electronic Timing, Inc. --
pt. V Long-Term Financing --
ch. 20 Raising Capital --
20.1. Early-Stage Financing and Venture Capital --
Venture Capital --
Stages of Financing --
Some Venture Capital Realities --
Venture Capital Investments and Economic Conditions --
20.2. The Public Issue --
20.3. Alternative Issue Methods --
20.4. The Cash Offer --
Investment Banks --
The Offering Price --
Underpricing; A Possible Explanation --
20.5. The Announcement of New Equity and the Value of the Firm --
20.6. The Cost of New Issues --
The Costs of Going Public: A Case Study --
20.7. Rights --
The Mechanics of a Rights Offering --
Subscription Price --
Number of Rights Needed to Purchase a Share --
Effect of Rights Offering on Price of Stock --
Effects on Shareholders --
The Underwriting Arrangements --
20.8. The Rights Puzzle --
20.9. Dilution --
Dilution of Proportionate Ownership --
Stock Price Dilution --
Book Value --
Earnings Per Share --
Conclusion --
20.10. Shelf Registration --
20.11. Issuing Long-Term Debt --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: East Coast Yachts Goes Public --
ch. 21 Leasing --
21.1. Types of Leases --
The Basics --
Operating Leases --
Financial Leases --
21.2. Accounting and Leasing --
21.3. Taxes, the IRS, and Leases --
21.4. The Cash Flows of Leasing Note continued: 21.5. A Detour for Discounting and Debt Capacity with Corporate Taxes --
Present Value of Riskless Cash Flows --
Optimal Debt Level and Riskless Cash Flows --
21.6. NPV Analysis of the Lease-versus-Buy Decision --
The Discount Rate --
21.7. Debt Displacement and Lease Valuation --
The Basic Concept of Debt Displacement --
Optimal Debt Level in the Xomox Example --
21.8. Does Leasing Ever Pay? The Base Case --
21.9. Reasons for Leasing --
Good Reasons for Leasing --
Bad Reasons for Leasing --
21.10. Some Unanswered Questions --
Are the Uses of Leases and Debt Complementary? --
Why Are Leases Offered by Both Manufacturers and Third-Party Lessors? --
Why Are Some Assets Leased More Than Others? --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: The Decision to Lease or Buy at Warf Computers --
Appendix 21A APV Approach to Leasing --
pt. VI Options, Futures, and Corporate Finance --
ch. 22 Options and Corporate Finance --
22.1. Options --
22.2. Call Options --
The Value of a Call Option at Expiration --
22.3. Put Options --
The Value of a Put Option at Expiration --
22.4. Selling Options --
22.5. Option Quotes --
22.6. Combinations of Options --
22.7. Valuing Options --
Bounding the Value of a Call --
The Factors Determining Call Option Values --
A Quick Discussion of Factors Determining Put Option Values --
22.8. An Option Pricing Formula --
A Two-State Option Model --
The Black-Scholes Model --
22.9. Stocks and Bonds as Options --
The Firm Expressed in Terms of Call Options --
The Firm Expressed in Terms of Put Options --
A Resolution of the Two Views --
A Note about Loan Guarantees --
22.10. Options and Corporate Decisions: Some Applications --
Mergers and Diversification --
Options and Capital Budgeting --
22.11. Investment in Real Projects and Options --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: Clissold Industries Options --
ch. 23 Options and Corporate Finance: Extensions and Applications --
23.1. Executive Stock Options --
Why Options? --
Valuing Executive Compensation --
23.2. Valuing a Start-Up --
23.3. More about the Binomial Model --
Heating Oil --
23.4. Shutdown and Reopening Decisions --
Valuing a Gold Mine --
The Abandonment and Opening Decisions --
Valuing the Simple Gold Mine --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: Exotic Cuisines' Employee Stock Options --
ch. 24 Warrants and Convertibles --
24.1. Warrants --
24.2. The Difference between Warrants and Call Options --
How the Firm Can Hurt Warrant Holders --
24.3. Warrant Pricing and the Black-Scholes Model --
24.4. Convertible Bonds --
24.5. The Value of Convertible Bonds --
Straight Bond Value --
Conversion Value --
Option Value --
24.6. Reasons for Issuing Warrants and Convertibles --
Convertible Debt versus Straight Debt --
Convertible Debt versus Common Stock --
The "Free Lunch" Story --
The "Expensive Lunch" Story --
A Reconciliation --
24.7. Why Are Warrants and Convertibles Issued? --
Matching Cash Flows --
Risk Synergy --
Agency Costs --
Backdoor Equity --
24.8. Conversion Policy --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: S&S Air's Convertible Bond --
ch. 25 Derivatives and Hedging Risk --
25.1. Derivatives, Hedging, and Risk --
25.2. Forward Contracts --
25.3. Futures Contracts --
25.4. Hedging --
25.5. Interest Rate Futures Contracts --
Pricing of Treasury Bonds --
Pricing of Forward Contracts --
Futures Contracts --
Hedging in Interest Rate Futures --
25.6. Duration Hedging --
The Case of Zero Coupon Bonds --
The Case of Two Bonds with the Same Maturity but with Different Coupons --
Duration --
Matching Liabilities with Assets --
25.7. Swaps Contracts --
Interest Rate Swaps --
Currency Swaps --
Credit Default Swaps (CDS) --
Exotics --
25.8. Actual Use of Derivatives --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: Williamson Mortgage, Inc. --
pt. VII Short-Term Finance --
ch. 26 Short-Term Finance and Planning --
26.1. Tracing Cash and Networking Capital --
26.2. The Operating Cycle and the Cash Cycle --
Defining the Operating and Cash Cycles --
The Operating Cycle and the Firm's Organization Chart --
Calculating the Operating and Cash Cycles --
Interpreting the Cash Cycle --
A Look at Operating and Cash Cycles --
26.3. Some Aspects of Short-Term Financial Policy --
The Size of the Firm's Investment in Current Assets --
Alternative Financing Policies for Current Assets --
Which Is Best? --
26.4. Cash Budgeting --
Cash Outflow --
The Cash Balance --
26.5. The Short-Term Financial Plan --
Unsecured Loans --
Secured Loans --
Other Sources --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: Keafer Manufacturing Working Capital Management --
ch. 27 Cash Management --
27.1. Reasons for Holding Cash --
The Speculative and Precautionary Motives --
The Transaction Motive --
Compensating Balances --
Costs of Holding Cash --
Cash Management versus Liquidity Management --
27.2. Understanding Float --
Disbursement Float --
Collection Float and Net Float --
Float Management --
Electronic Data Interchange and Check 21: The End of Float? --
27.3. Cash Collection and Concentration --
Components of Collection Time --
Cash Collection --
Lockboxes --
Cash Concentration --
Accelerating Collections: An Example --
27.4. Managing Cash Disbursements --
Increasing Disbursement Float --
Controlling Disbursements --
27.5. Investing Idle Cash --
Temporary Cash Surpluses --
Characteristics of Short-Term Securities --
Some Different Types of Money Market Securities --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: Cash Management at Richmond Corporation --
Appendix 27A Determining the Target Cash Balance --
Appendix 27B Adjustable Rate Preferred Stock, Auction Rate Preferred Stock, and Floating-Rate Certificates of Deposit. --
ch. 28 Credit and Inventory Management --
28.1. Credit and Receivables --
Components of Credit Policy --
The Cash Flows from Granting Credit --
The Investment in Receivables --
28.2. Terms of the Sale --
The Basic Form --
The Credit Period --
Cash Discounts --
Credit Instruments --
28.3. Analyzing Credit Policy --
Credit Policy Effects --
Evaluating a Proposed Credit Policy --
28.4. Optimal Credit Policy --
The Total Credit Cost Curve --
Organizing the Credit Function --
28.5. Credit Analysis --
When Should Credit Be Granted? --
Credit Information --
Credit Evaluation and Scoring --
28.6. Collection Policy --
Monitoring Receivables --
Collection Effort --
28.7. Inventory Management --
The Financial Manager and Inventory Policy --
Inventory Types --
Inventory Costs --
28.8. Inventory Management Techniques --
The ABC Approach --
The Economic Order Quantity Model --
Extensions to the EOQ Model --
Managing Derived-Demand Inventories --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: Credit Policy At Braam Industries --
Appendix 28A More about Credit Policy Analysis --
pt. VIII Special Topics --
ch. 29 Mergers, Acquisitions, and Divestitures --
29.1. The Basic Forms of Acquisitions --
Merger or Consolidation --
Acquisition of Stock --
Acquisition of Assets --
A Classification Scheme --
A Note about Takeovers --
29.2. Synergy --
29.3. Sources of Synergy --
Revenue Enhancement --
Cost Reduction --
Tax Gains --
Reduced Capital Requirements --
29.4. Two Financial Side Effects of Acquisitions --
Earnings Growth --
Diversification --
29.5. A Cost to Stockholders from Reduction in Risk --
The Base Case --
Both Firms Have Debt --
How Can Shareholders Reduce Their Losses from the Coinsurance Effect? --
29.6. The NPV of a Merger --
Cash --
Common Stock --
Cash versus Common Stock --
29.7. Friendly versus Hostile Takeovers --
29.8. Defensive Tactics --
Deterring Takeovers before Being in Play --
Deterring a Takeover after the Company Is in Play --
29.9. Do Mergers Add Value? --
Returns to Bidders --
Target Companies --
The Managers versus the Stockholders --
29.10. The Tax Forms of Acquisitions --
29.11. Accounting for Acquisitions --
29.12. Going Private and Leveraged Buyouts --
29.13. Divestitures --
Sale --
Spin-Off --
Carve-Out --
Tracking Stocks --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Mini Case: The Birdie Golf --
Hybrid Golf Merger --
ch. 30 Financial Distress --
30.1. What Is Financial Distress? --
30.2. What Happens in Financial Distress? --
30.3. Bankruptcy Liquidation and Reorganization --
Bankruptcy Liquidation --
Bankruptcy Reorganization --
30.4. Private Workout or Bankruptcy: Which Is Best? --
The Marginal Firm --
Holdouts --
Complexity --
Lack of Information --
30.5. Prepackaged Bankruptcy --
30.6. Predicting Corporate Bankruptcy: The Z-Score Model --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
ch. 31 International Corporate Finance --
31.1. Terminology --
31.2. Foreign Exchange Markets and Exchange Rates --
Exchange Rates --
31.3. Purchasing Power Parity --
Absolute Purchasing Power Parity --
Relative Purchasing Power Parity --
31.4. Interest Rate Parity, Unbiased Forward Rates, and the International Fisher Effect Note continued: Covered Interest Arbitrage --
Interest Rate Parity --
Forward Rates and Future Spot Rates --
Putting It All Together --
31.5. International Capital Budgeting --
Method 1 The Home Currency Approach --
Method 2 The Foreign Currency Approach --
Unremitted Cash Flows --
The Cost of Capital for International Firms --
31.6. Exchange Rate Risk --
Short-Term Exposure --
Long-Term Exposure --
Translation Exposure --
Managing Exchange Rate Risk --
31.7. Political Risk --
Summary and Conclusions --
Concept Questions --
Questions and Problems --
Excel Master It! --
Mini Case: East Coast Yachts Goes International.
Series Title: McGraw-Hill/Irwin series in finance, insurance, and real estate.
Responsibility: Stephen A. Ross, Randolph W. Westerfield, Jeffrey Jaffe.

Abstract:

Emphasizes the modern fundamentals of the theory of finance, while providing contemporary examples to make the theory come to life. In this book, the authors aim to present corporate finance as the  Read more...

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.

Similar Items

Related Subjects:(2)

User lists with this item (3)

Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/789149025> # Corporate finance
    a schema:CreativeWork, schema:Book ;
   library:oclcnum "789149025" ;
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/nyu> ;
   schema:about <http://id.loc.gov/authorities/subjects/sh85032938> ; # Corporations--Finance
   schema:about <http://experiment.worldcat.org/entity/work/data/651492#Topic/sirketler_maliye> ; # Şirketler--Maliye
   schema:about <http://dewey.info/class/658.15/e23/> ;
   schema:about <http://id.worldcat.org/fast/879841> ; # Corporations--Finance
   schema:author <http://viaf.org/viaf/34533553> ; # Jeffrey F. Jaffe
   schema:author <http://viaf.org/viaf/85013467> ; # Stephen A. Ross
   schema:author <http://viaf.org/viaf/2547586> ; # Randolph Westerfield
   schema:bookEdition "10th edition." ;
   schema:bookFormat bgn:PrintBook ;
   schema:copyrightYear "2013" ;
   schema:datePublished "2013" ;
   schema:description "This text has always led the way in innovative coverage and technology, and the Tenth Edition is no exception. Several chapters have been extensively rewritten to incorporate the many exciting new research findings in corporate finance."@en ;
   schema:exampleOfWork <http://worldcat.org/entity/work/id/651492> ;
   schema:inLanguage "en" ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/651492#Series/mcgraw_hill_irwin_series_in_finance_insurance_and_real_estate> ; # McGraw-Hill/Irwin series in finance, insurance, and real estate.
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/651492#Series/the_mcgraw_hill_irwin_series_in_finance_insurance_and_real_estate> ; # The McGraw-Hill/Irwin series in finance, insurance and real estate
   schema:name "Corporate finance"@en ;
   schema:productID "789149025" ;
   schema:workExample <http://worldcat.org/isbn/9780078034770> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/789149025> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/651492#Series/mcgraw_hill_irwin_series_in_finance_insurance_and_real_estate> # McGraw-Hill/Irwin series in finance, insurance, and real estate.
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/789149025> ; # Corporate finance
   schema:name "McGraw-Hill/Irwin series in finance, insurance, and real estate." ;
    .

<http://experiment.worldcat.org/entity/work/data/651492#Series/the_mcgraw_hill_irwin_series_in_finance_insurance_and_real_estate> # The McGraw-Hill/Irwin series in finance, insurance and real estate
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/789149025> ; # Corporate finance
   schema:name "The McGraw-Hill/Irwin series in finance, insurance and real estate" ;
    .

<http://experiment.worldcat.org/entity/work/data/651492#Topic/sirketler_maliye> # Şirketler--Maliye
    a schema:Intangible ;
   schema:name "Şirketler--Maliye"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh85032938> # Corporations--Finance
    a schema:Intangible ;
   schema:name "Corporations--Finance"@en ;
    .

<http://id.worldcat.org/fast/879841> # Corporations--Finance
    a schema:Intangible ;
   schema:name "Corporations--Finance"@en ;
    .

<http://viaf.org/viaf/2547586> # Randolph Westerfield
    a schema:Person ;
   schema:familyName "Westerfield" ;
   schema:givenName "Randolph" ;
   schema:name "Randolph Westerfield" ;
    .

<http://viaf.org/viaf/34533553> # Jeffrey F. Jaffe
    a schema:Person ;
   schema:birthDate "1946" ;
   schema:familyName "Jaffe" ;
   schema:givenName "Jeffrey F." ;
   schema:name "Jeffrey F. Jaffe" ;
    .

<http://viaf.org/viaf/85013467> # Stephen A. Ross
    a schema:Person ;
   schema:familyName "Ross" ;
   schema:givenName "Stephen A." ;
   schema:name "Stephen A. Ross" ;
    .

<http://worldcat.org/isbn/9780078034770>
    a schema:ProductModel ;
   schema:isbn "0078034779" ;
   schema:isbn "9780078034770" ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.