Brealey, Principles of Corporate Finance, 13e, describes the theory and practice of corporate finance. We hardly need to explain why financial managers have to master the practical aspects of their job, but we should spell out why down-to-earth managers need to bother with theory. Throughout this book, we show how managers use financial theory to solve practical problems. Much of this book is concerned with understanding what financial managers do and why. But we also say what financial managers should do to increase company value.
Some of the biggest changes in this edition were prompted by the tax changes enacted in the U.S. Tax Cuts and Jobs Act passed in December 2017. In the current edition, we have also continued to augment the international content as well as a number of chapters that have been thoroughly rewritten. For example, the material on agency issues in Chapter 12 has been substantially revised. Chapter 13 on market efficiency and behavioral finance is now fresher and more up to date. Chapter 23 on credit risk focuses more on the practical issues of forecasting default probabilities.
作者介紹
作者簡介
Richard A. Brealey
現職:London Business School
Stewart C. Myers
現職:Sloan School of Management Massachusetts Institute of Technology
Franklin Allen
現職:Imperial College London
目錄
PART I: VALUE
Ch 1 Introduction to Corporate Finance
Ch 2 How to Calculate Present Values
Ch 3 Valuing Bonds
Ch 4 The Value of Common Stocks
Ch 5 Net Present Value and Other Investment Criteria
Ch 6 Making Investment Decisions with the Net Present Value Rule
PART II: RISK
Ch 7 Introduction to Risk and Return
Ch 8 Portfolio Theory and the Capital Asset Pricing Model
Ch 9 Risk and the Cost of Capital
PART III: BEST PRACTICES IN CAPITAL BUDGETING
Ch10 Project Analysis
Ch11 How to Ensure that Projects Truly Have Positive NPVs
Ch12 Agency Problems and Investment
PART IV: FINANCING DECISIONS AND MARKET EFFICIENCY
Ch13 Efficient Markets and Behavioral Finance
Ch14 An Overview of Corporate Financing
Ch15 How Corporations Issue Securities
PART V: PAYOUT POLICY AND CAPITAL STRUCTURE
Ch16 Payout Policy
Ch17 Does Debt Policy Matter?
Ch18 How Much Should a Corporation Borrow?
Ch19 Financing and Valuation
PART VI: OPTIONS
Ch20 Understanding Options
Ch21 Valuing Options
Ch22 Real Options
PART VII: DEBT FINANCING
Ch23 Credit Risk and the Value of Corporate Debt
Ch24 The Many Different Kinds of Debt
Ch25 Leasing
PART VIII: RISK MANAGEMENT
Ch26 Managing Risk
Ch27 Managing International Risks
PART IX: FINANCIAL PLANNING AND WORKING CAPITAL MANAGEMENT
Ch28 Financial Analysis
Ch29 Financial Planning
Ch30 Working Capital Management
PART X: MERGERS, CORPORATE CONTROL, AND GOVERNANCE
Ch31 Mergers
Ch32 Corporate Restructuring
Ch33 Governance and Corporate Control Around the World
PART XI: CONCLUSION
Ch34 Conclusion: What We Do and Do Not Know About Finance