Using the valuation framework based on the Law of One Price, top researchers Jonathan Berk and Peter DeMarzo have set the new canon for corporate finance texts. Corporate Finance blends coverage of time-tested principles and the latest advancements with the practical perspective of the financial manager. You can “practice finance to learn finance” by solving problems like those faced by today's professionals. The 6th Edition features the latest research, data, events and technologies to help you develop the tools you need to make sound financial decisions.
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Brief Contents PART 1: Introduction The Corporation and Financial MarketsIntroduction to Financial Statement AnalysisFinancial Decision Making and the Law of One Price PART 2: Time, Money, and Interest Rates The Time Value of MoneyInterest RatesValuing Bonds PART 3: Valuing Projects and Firms Investment Decision RulesFundamentals of Capital BudgetingValuing Stocks PART 4: Risk and Return Capital Markets and the Pricing of RiskOptimal Portfolio Choice and the Capital Asset Pricing ModelEstimating the Cost of CapitalInvestor Behavior and Capital Market Efficiency PART 5: Capital Structure Capital Structure in a Perfect MarketDebt and TaxesFinancial Distress, Managerial Incentives, and InformationPayout Policy PART 6: Advanced Valuation Capital Budgeting and Valuation with LeverageValuation and Financial Modeling: A Case Study PART 7: Options Financial OptionsOption ValuationReal Options PART 8: Long-Term Financing Raising Equity CapitalDebt FinancingLeasing PART 9: Short-Term Financing Working Capital ManagementShort-Term Financial Planning PART 10: Special Topics Mergers and AcquisitionsCorporate GovernanceRisk ManagementInternational Corporate Finance
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Hallmark features for this title The Law of One Price is used as a unifying valuation framework to connect theory to practice and unify what might appear to be disparate topics.A simplified presentation of mathematics using notation boxes, labeled equations, etc. help students master the jargon and math.An emphasis on capital budgeting and valuation ensures students understand these important topics.Personal Finance examples let students apply managerial finance concepts, tools and techniques to their own personal finance decisions.Finance in Times of Disruption boxes analyze and note lessons from the COVID-19 pandemic, global financial crisis, and sovereign debt crises.Worked examples accompany important concepts and model the solution and process step-by-step.
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Pearson's webinar series "Changing Perspectives": a conversation regarding active learning in Corporate Finance Authors Jonathan Berk and Peter DeMarzo shared useful tips on how to keep finance students engaged and spoke more about the interactive tools available with the textbook's new edition. The webinar also focused on "clearing the air" regarding common misconceptions amongst students which could impact their engagement and understanding with the subject, encouraging them to experiment with visualisation data to deepen their understanding of the subject. Read our blog post "Bringing learning to life via interactive finance tools" for more information and watch the YouTube video of the webinar. New and Updated Features ENHANCED: Coverage of stakeholder and ESG concerns puts them in the context of the shareholder value maximization goal (Ch. 1). Content on leasing reflects accounting treatment changes (Ch. 25).NEW: Section on SPACs examines equity-raising (Ch. 14).NEW: Discussion on market efficiency includes crytpocurrencies and bubbles (Ch. 10).EXPANDED: Global Financial Crisis boxes include discussion of the COVID-19 pandemic.4 NEW: Practitioner Interviews share insights from leaders in the field. Fahmi Qadi addresses the role of short sellers in markets.REVISED: Data Cases let students apply the material with realistic data-analyzing exercises and problems.UPDATED: Tables, figures, and facts reflect current data and developments in the field over the last few years.
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Produktdetaljer

ISBN
9781292446318
Publisert
2023-07-04
Utgave
6. utgave
Utgiver
Vendor
Pearson Education Limited
Vekt
2206 gr
Høyde
256 mm
Bredde
206 mm
Dybde
34 mm
Aldersnivå
U, 05
Språk
Product language
Engelsk
Format
Product format
Heftet
Antall sider
1200

Om bidragsyterne

Jonathan Berk is the A. P. Giannini Professor of Finance at the Graduate School of Business, Stanford University and is a Research Associate at the National Bureau of Economic Research. Before coming to Stanford, he was the Sylvan Coleman Professor of Finance at the Haas School of Business at the University of California, Berkeley. Prior to earning his PhD, he worked as an Associate at Goldman Sachs (where his education in finance really began).

Professor Berk's research interests in finance include corporate valuation, capital structure, mutual funds, asset pricing, experimental economics, and labor economics. His work has won a number of research awards including the Stephen A. Ross Prize in Financial Economics, TIAA-CREF Paul A. Samuelson Award, the Smith Breeden Prize, Best Paper of the Year in The Review of Financial Studies, and the FAME Research Prize. His paper, “A Critique of Size-Related Anomalies,” was selected as one of the 2 best papers ever published in The Review of Financial Studies. In recognition of his influence on the practice of finance he has received the Bernstein-Fabozzi/Jacobs Levy Award, the Graham and Dodd Award of Excellence, and the Roger F. Murray Prize. He served 2 terms as an Associate Editor of the Journal of Finance, and a term as a director of the American Finance Association, the Western Finance Association, and academic director of the Financial Management Association. He is a Fellow of the Financial Management Association and a member of the advisory board of the Journal of Portfolio Management.

Born in Johannesburg, South Africa, Professor Berk has 2 daughters, and is an avid skier and biker.

Peter DeMarzo is the John G. McDonald Professor of Finance at the Graduate School of Business, Stanford University. He is the former President of the American Finance Association and a Research Associate at the National Bureau of Economic Research. He teaches MBA and PhD courses in Corporate Finance and Financial Modeling. Professor DeMarzo has also taught at the Haas School of Business and the Kellogg Graduate School of Management. He is a Fellow of the Econometric Society and former National Fellow at the Hoover Institution. Professor DeMarzo received the Sloan Teaching Excellence Award at Stanford and the Earl F. Cheit Outstanding Teaching Award at U.C. Berkeley. Professor DeMarzo has served as an Associate Editor for The Review of Financial Studies, Financial Management, and the B.E. Journals in Economic Analysis and Policy, as well as Vice President and director of the American Finance Association and President of the Western Finance Association. Professor DeMarzo's research is in the area of corporate finance, asset securitization, and contracting, as well as market structure and regulation. His recent work has examined issues of the optimal design of contracts and securities, leverage dynamics and the role of bank capital regulation, and the influence of information asymmetries on stock prices and corporate investment. He has received numerous awards including the Western Finance Association Corporate Finance Best Paper Award, the Charles River Associates Best-Paper Award, the Barclays Global Investors/Michael Brennan Best Paper of the Year Award from The Review of Financial Studies, and the Brattle Prize for the best corporate finance paper from the Journal of Finance.

Professor DeMarzo was born in Whitestone, New York, and is married with 3 boys. He and his family enjoy hiking, biking, and skiing.