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.a 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.
Table of Contents Part One: 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 Two: 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 Three: Best Practices in Capital Budgeting Ch. 10 Project Analysis Ch. 11 How to Ensure that Projects Truly Have Positive NPVs Ch. 12 Agency Problems and Investment Part Four: Financing Decisions and Market Efficiency Ch. 13 Efficient Markets and Behavioral Finance Ch. 14 An Overview of Corporate Financing Ch. 15 How Corporations Issue Securities Part Five: Payout Policy and Capital Structure Ch. 16 Payout Policy Ch. 17 Does Debt Policy Matter? Ch. 18 How Much Should a Corporation Borrow Ch. 19 Financing and Valuation Part Six: Options Ch. 20 Understanding Options Ch. 21 Valuing Options Ch. 22 Real Options Part Seven: Debt Financing Ch. 23 Credit Risk and the Value of Corporate Debt Ch. 24 The Many Different Kinds of Debt Ch. 25 Leasing Part Eight: Risk Management Ch. 26 Managing Risk Ch. 27 Managing International Risks Part Nine: Financial Planning and Working Capital Management Ch. 28 Financial Analysis Ch. 29 Financial Planning Ch. 30 Working Capital Management Part Ten: Mergers, Corporate Control, and Governance Ch. 31 Mergers Ch. 32 Corporate Restructuring Ch. 33 Governance and Corporate Control around the World Part Eleven: Conclusion Ch. 34 Conclusion: What We Do and Do Not Know about Finance
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