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Principles of Managerial Finance - Pearson

Principles of Managerial 127/11/17 8:03 PMBerk/DeMarzoCorporate Finance *Corporate Finance : The Core*Berk/DeMarzo/HarfordFundamentals of Corporate Finance *BrooksFinancial Management: Core Concepts*Copeland/Weston/ShastriFinancia l Theory and Corporate PolicyDorfman/CatherIntroduction to Risk Management and InsuranceEakins/McNallyCorporate Finance OnlineEiteman/Stonehill/MoffettMultinati onal Business Finance *FabozziBond Markets: Analysis and StrategiesFoersterFinancial Management: Concepts and Applications*FrascaPersonal FinanceHaugenThe Inefficient Stock market : What Pays Off and WhyModern Investment TheoryHoldenExcel Modeling in Corporate FinanceExcel Modeling in InvestmentsHughes/MacDonaldInternational banking : Text and CasesHullFundamentals of Futures and Options MarketsOptions, Futures, and Other DerivativesKeownPersonal Finance : Turning money into Wealth*Keown/Martin/PettyFoundations of Finance : The Logic and Practice of financial Management*MaduraPersonal Finance *McDonaldD

2.1 Financial Institutions 43 Commercial Banks, Investment Banks, and the Shadow Banking System 43 REVIEW QUESTIONS 45 2.2 Financial Markets 45 The Relationship Between Institutions and Markets 45 The Money Market 46 The …

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Transcription of Principles of Managerial Finance - Pearson

1 Principles of Managerial 127/11/17 8:03 PMBerk/DeMarzoCorporate Finance *Corporate Finance : The Core*Berk/DeMarzo/HarfordFundamentals of Corporate Finance *BrooksFinancial Management: Core Concepts*Copeland/Weston/ShastriFinancia l Theory and Corporate PolicyDorfman/CatherIntroduction to Risk Management and InsuranceEakins/McNallyCorporate Finance OnlineEiteman/Stonehill/MoffettMultinati onal Business Finance *FabozziBond Markets: Analysis and StrategiesFoersterFinancial Management: Concepts and Applications*FrascaPersonal FinanceHaugenThe Inefficient Stock market : What Pays Off and WhyModern Investment TheoryHoldenExcel Modeling in Corporate FinanceExcel Modeling in InvestmentsHughes/MacDonaldInternational banking : Text and CasesHullFundamentals of Futures and Options MarketsOptions, Futures, and Other DerivativesKeownPersonal Finance : Turning money into Wealth*Keown/Martin/PettyFoundations of Finance .

2 The Logic and Practice of financial Management*MaduraPersonal Finance *McDonaldDerivatives MarketsFundamentals of Derivatives MarketsMishkin/EakinsFinancial Markets and InstitutionsMoffett/Stonehill/EitemanFun damentals of Multinational Finance *PennacchiTheory of Asset PricingRejda/McNamaraPrinciples of Risk Management and InsuranceSmart/Gitman/JoehnkFundamentals of Investing*Solnik/McLeaveyGlobal InvestmentsTitman/Keown/MartinFinancial Management: Principles and Applications*Titman/MartinValuation: The Art and Science of Corporate Investment DecisionsWeston/Mitchell/MulherinTakeove rs, Restructuring, and Corporate GovernanceZutter/SmartPrinciples of Managerial Finance * Principles of Managerial Finance Brief Edition*The Pearson Series in Finance * denotes titles with MyLab Finance .

3 Log onto to learn 229/11/17 2:23 PMChad J. ZutterUniversity of PittsburghScott B. SmartIndiana UniversityPrinciples of Managerial FinanceFIFTEENTH EDITIONNew York, 327/11/17 8:03 PMVice President, Business, Economics, and UK Courseware: Donna BattistaDirector of Portfolio Management: Adrienne D AmbrosioSenior Portfolio Manager: Kate FernandesEditorial Assistant: Caroline FennVice President, Product Marketing: Roxanne McCarleyProduct Marketer: Kaylee CarlsonProduct Marketing Assistant: Marianela SilvestriManager of Field Marketing, Business Publishing: Adam GoldsteinExecutive Field Marketing Manager: Thomas HaywardVice President, Production and Digital Studio, Arts and Business: Etain O DeaDirector of Production, Business.

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8 , or its affiliates, authors, licensees, or Data is available on file at the Library of CongressISBN 10: 0-13-447631-X1 18 ISBN 13: 429/11/17 2:23 PMDedicated to our good friend and mentor, Dr. Lawrence J. Gitman, who trusted us as coauthors and successors of Principles of Managerial 527/11/17 8:03 627/11/17 8:03 PMBrief ContentsContents ixAbout the Authors xxixPreface xxxiAcknowledgments xlivviiPART 6 Long-Term financial Decisions 551 13 Leverage and Capital Structure 552 14 Payout Policy 606 PART 7 Short-Term financial Decisions 645 15 Working Capital and Current Assets Management 646 16 Current Liabilities Management 689 PART 8 Special Topics in Managerial Finance 725 17 Hybrid and Derivative Securities 726 18 Mergers, LBOs, Divestitures.

9 And Business Failure 765 19 International Managerial Finance 809 Appendix A-1 Glossary G-1 Index I-1 PART 1 Introduction to Managerial Finance 1 1 The Role of Managerial Finance 2 2 The financial market Environment 41 PART 2 financial Tools 75 3 financial Statements and Ratio Analysis 76 4 Long- and Short-Term financial Planning 142 5 Time Value of money 189 PART 3 Valuation of Securities 255 6 Interest Rates and Bond Valuation 256 7 Stock Valuation 305 PART 4 Risk and the Required Rate of Return 345 8 Risk and Return 346 9 The Cost of Capital 396 PART 5 Long-Term Investment Decisions 429 10 Capital Budgeting Techniques 430 11 Capital Budgeting Cash Flows 471 12 Risk and Refinements in Capital Budgeting 727/11/17 8:03 827/11/17 8:03 PMContentsixAbout the Authors xxixPreface xxxiAcknowledgments Finance and the Firm 4 What Is Finance ?

10 4 What Is a Firm? 5 What Is the Goal of the Firm? 5 FOCUS ON ETHICS: Do Corporate Executives Have a Social Responsibility? 6 The Role of Business Ethics 10 REVIEW QUESTIONS 11 FOCUS ON PRACTICE: Must Search Engines Screen Out Fake News? Managing The Firm 12 The Managerial Finance Function 13 REVIEW QUESTIONS Organization Forms, Taxation, and the Principal-Agent Relationship 21 Legal Forms of Business Organization 21 Agency Problems and Agency Costs 28 Corporate Governance 28 REVIEW QUESTIONS 32in practicein Developing Skills for Your Career 32 Critical Thinking 32 Communication and Collaboration 33 financial Computing Skills 33 Summary 33 Opener-In-Review 35 Self-Test Problem 35 Warm-Up Exercises 36 Problems 37 Spreadsheet Exercise 40 PART 1 Introduction to Managerial Finance 11 The Role of Managerial Finance 2 Brookdale Senior Living Is Brookdale s Management About to Be Retired?


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