Corporate Finance Plus MyFinanceLab Student Access Card Package: Global Edition
Autor Jonathan Berk, Peter DeMarzoen Limba Engleză Mixed media product – 30 dec 2009
This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content which is especially relevant to students outside the United States.
Using the unifying valuation framework based on the Law of One Price, top researchers Jonathan Berk and Peter DeMarzo set the new standard for corporate finance textbooks. Corporate Finance blends coverage of time-tested principles and the latest advancements with the practical perspective of the financial manager. With this ideal melding of the core with modern topics, innovation with proven pedagogy, Berk and DeMarzo establish the new canon in finance.
The second edition reflects the constantly changing world of finance, including information on the recent financial crisis, new behavioral finance research, and updated practitioner interviews.
For programs and professors who would like a streamlined book that is specifically tailored to the topics covered in the first one-semester course, Corporate Finance: The Core 2nd edition is also available by Jonathan Berk and Peter DeMarzo.
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Specificații
ISBN-13: 9780137067350
ISBN-10: 0137067356
Pagini: 1104
Greutate: 1.94 kg
Ediția:2Nouă
Editura: Pearson Education
Colecția Pearson Education
Locul publicării:Upper Saddle River, United States
ISBN-10: 0137067356
Pagini: 1104
Greutate: 1.94 kg
Ediția:2Nouă
Editura: Pearson Education
Colecția Pearson Education
Locul publicării:Upper Saddle River, United States
Cuprins
Part I: Introduction
1 The Corporation
2 Introduction to Financial Statement Analysis
Part II: Tools
3 Arbitrage and Financial Decision Making
4 The Time Value of Money
5 Interest Rates
Part III: Basic Valuation
6 Investment Decision Rules
7 Fundamentals of Capital Budgeting
8 Valuing Bonds
9 Valuing Stocks
Part IV: Risk and Return
10 Capital Markets and the Pricing of Risk
11 Optimal Portfolio Choice and the Capital Asset Pricing Model
12 Estimating the Cost of Capital
13 Investor Behavior and Capital Market Efficiency
Part V: Capital Structure
14 Capital Structure in a Perfect Market
15 Debt and Taxes
16 Financial Distress, Managerial Incentives, and Information
17 Payout Policy
Part VI: Valuation
18 Capital Budgeting and Valuation with Leverage
19 Valuation and Financial Modeling: A Case Study
Part VII: Options
20 Financial Options
21 Option Valuation
22 Real Options
Part VIII: Long-Term Financing
23 The Mechanics of Raising Equity Capital
24 Debt Financing
25 Leasing
Part IX: Short-Term Financing
26 Working Capital Management
27 Short-Term Financial Planning
Part X: Special Topics
28 Mergers and Acquisitions
29 Corporate Governance
30 Risk Management
31 International Corporate Finance
1 The Corporation
2 Introduction to Financial Statement Analysis
Part II: Tools
3 Arbitrage and Financial Decision Making
4 The Time Value of Money
5 Interest Rates
Part III: Basic Valuation
6 Investment Decision Rules
7 Fundamentals of Capital Budgeting
8 Valuing Bonds
9 Valuing Stocks
Part IV: Risk and Return
10 Capital Markets and the Pricing of Risk
11 Optimal Portfolio Choice and the Capital Asset Pricing Model
12 Estimating the Cost of Capital
13 Investor Behavior and Capital Market Efficiency
Part V: Capital Structure
14 Capital Structure in a Perfect Market
15 Debt and Taxes
16 Financial Distress, Managerial Incentives, and Information
17 Payout Policy
Part VI: Valuation
18 Capital Budgeting and Valuation with Leverage
19 Valuation and Financial Modeling: A Case Study
Part VII: Options
20 Financial Options
21 Option Valuation
22 Real Options
Part VIII: Long-Term Financing
23 The Mechanics of Raising Equity Capital
24 Debt Financing
25 Leasing
Part IX: Short-Term Financing
26 Working Capital Management
27 Short-Term Financial Planning
Part X: Special Topics
28 Mergers and Acquisitions
29 Corporate Governance
30 Risk Management
31 International Corporate Finance
Notă biografică
Take a closer look at Berk/DeMarzo's 2nd edition here: http://www.pearsonhighered.com/showtell/berk_0138018758/web
Jonathan Berk is the Professor of Finance in the Haas School of Business at the University of California, Berkeley and is a Research Associate at the National Bureau of Economic Research. He currently teaches the introductory Corporate Finance course for first-year MBA students at Berkeley. Before getting his Ph.D., he worked as an Associate at Goldman Sachs, where his education in finance really began.
Professor Berk is an Associate Editor of the Journal of Finance. His 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 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 recently selected as one of the two 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.
Born in Johannesburg, South Africa, Professor Berk is married, with two daughters aged 10 and 14, and is an avid skier and biker.
Peter DeMarzo is the Mizuho Financial Group Professor of Finance at the Stanford Graduate School of Business and is a Research Associate at the National Bureau of Economic Research. He currently teaches the "turbo” core finance course for Stanford’s first-year MBA students. In addition to his experience at the Stanford Graduate School of Business, Professor DeMarzo has taught at the Haas School of Business and the Kellogg Graduate School of Management, and he was a National Fellow at the Hoover Institution.
Professor DeMarzo received the Sloan Teaching Excellence Award at Stanford in 2004 and 2006, and the Earl F. Cheit Outstanding Teaching Award at U.C. Berkeley in 1998. 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 a Director 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 securities, the regulation of insider trading and broker-dealers, and the influence of information asymmetries on corporate investment. He has received numerous awards including the Western Finance Association Corporate Finance Award and the Barclays Global Investors/Michael Brennan best-paper award from The Review of Financial Studies.
Professor DeMarzo was born in Whitestone, New York and is married with three boys. He and his family enjoy hiking, biking, and skiing.
Jonathan Berk is the Professor of Finance in the Haas School of Business at the University of California, Berkeley and is a Research Associate at the National Bureau of Economic Research. He currently teaches the introductory Corporate Finance course for first-year MBA students at Berkeley. Before getting his Ph.D., he worked as an Associate at Goldman Sachs, where his education in finance really began.
Professor Berk is an Associate Editor of the Journal of Finance. His 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 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 recently selected as one of the two 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.
Born in Johannesburg, South Africa, Professor Berk is married, with two daughters aged 10 and 14, and is an avid skier and biker.
Peter DeMarzo is the Mizuho Financial Group Professor of Finance at the Stanford Graduate School of Business and is a Research Associate at the National Bureau of Economic Research. He currently teaches the "turbo” core finance course for Stanford’s first-year MBA students. In addition to his experience at the Stanford Graduate School of Business, Professor DeMarzo has taught at the Haas School of Business and the Kellogg Graduate School of Management, and he was a National Fellow at the Hoover Institution.
Professor DeMarzo received the Sloan Teaching Excellence Award at Stanford in 2004 and 2006, and the Earl F. Cheit Outstanding Teaching Award at U.C. Berkeley in 1998. 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 a Director 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 securities, the regulation of insider trading and broker-dealers, and the influence of information asymmetries on corporate investment. He has received numerous awards including the Western Finance Association Corporate Finance Award and the Barclays Global Investors/Michael Brennan best-paper award from The Review of Financial Studies.
Professor DeMarzo was born in Whitestone, New York and is married with three boys. He and his family enjoy hiking, biking, and skiing.
Caracteristici
- The Law of One Price: A Unifying Principle of Valuation. The Law of One Price is used as a framework, reflecting the modern idea that the absence of arbitrage is the unifying concept in valuation. This theme is explicitly introduced in Chapter 3, “Arbitrage and Financial Decision Making,” revisited in each Part Opener, and integrated throughout the text--motivating all major concepts. This methodology directly connects theory to practice, and unifies what might appear to students as disparate topics that comprise the course syllabus (corporate finance, investments, valuation).
- Teaching Students to Think Finance. In each chapter, an innovative set of learning aids teaches every student how to 'think finance.' Problem-solving study aids include:
- Common Mistakes boxes point to frequently made errors stemming from misunderstood core concepts and calculations, as well as mistakes made in practice.
- Worked Examples accompany every important concept using a procedure that illustrates both the Problem and the step-by-step Solution.
- With a simplified presentation of mathematics, this text breaks the sink-or-swim trend found in most texts by systematically using Notation Boxes as well as Numbered and Labeled Equations.
- Timelines are introduced in Chapter 4, “The Time Value of Money,”and consistently used throughout the book when appropriate. Stressing the importance of creating timelines for every problem that involves cash flows, each worked example involving a cash flow includes a timeline as the critical first step.
- Common Mistakes boxes point to frequently made errors stemming from misunderstood core concepts and calculations, as well as mistakes made in practice.
- Modern Research. Berk and DeMarzo introduce recent advances in finance research throughout the book. For example, Chapter 16, “Financial Distress, Managerial Incentives, and Information,” is a full-chapter treatment of the effects of financial distress, agency issues, and asymmetric information on the firm's choice of capital structure.
- Modern Practice. Throughout Corporate Finance the authors connect finance concepts to practice. Chapter 18, “Capital Budgeting with Leverage,” shows the relationship between the WACC, APV, and Flow-to-Equity methodologies, and stresses the role of the firm’s leverage policy. Then, a unique capstone to capital budgeting, Chapter 19, “Valuation and Financial Modeling: A Case Study,” illustrates the application and real-world implementation of valuation techniques.
- Applications that Reflect Real Practice.Corporate Finance highlights practices of actual companies and real people in the field with:
- Practitioner interviews
- Real-company chapter-opening examples
- Boxes that show concepts at work in business
- Options for Teaching Risk and Return. Chapter 3 briefly introduces the concept of risk and return. Using the no-arbitrage concept, the reasoning behind evaluating risk relative to a benchmark is explained conceptually and allows for use of the concept of risk and return in early chapters. Later, the structure of Part IV is flexible and allows instructors to opt for brief or comprehensive coverage of the topic.
- Emphasis of Capital Budgeting and Valuation. Capital budgeting and valuation is presented in two distinct stages. The first, which appears in Chapter 7, “Fundamentals of Capital Budgeting,” focuses on cash flows, while the second stage focuses on capital budgeting and valuation in the real world in Chapter 18, Capital Budgeting with Leverage and the capstone chapter 19, “Valuation and Financial Modeling: A Case Study.”
- MyFinanceLab: Hands-on Practice. Hands-off Grading. Because practice with homework problems is crucial to learning finance, each copy of Corporate Finance comes with MyFinanceLab, a fully integrated homework and tutorial system. MyFinanceLab revolutionizes homework and practice with a unique hint and partial credit system developed by Jonathon Berk and Peter DeMarzo. Find out more at www.myfinancelab.com
Caracteristici noi
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NEW! IFRS, Fully revised chapter 2 – Introduction to Financial Statement Analysis – to incorporate International Financial Reporting Standards (IFRS). Changes to this chapter include:
NEW! Chapter 12, “Estimating the Cost of Capital.” Written in response to users who wanted a single place in the book that explained how to calculate the cost of capital, the chapter is a practical guide to implementing the risk-return model derived in the previous two chapters.
NEW!Expanded Chapter 13, “Investor Behavior and Capital Market Efficiency.” This chapter presents compelling evidence on investor behavior and examines how this behavior impacts the efficiency of the market portfolio.
NEW! Financial Crisis Boxes. To reflect the reality of the financial crisis of 2007, Financial Crisis Boxes—twenty-one in total—illustrate and analyze key details about the financial crisis, ranging from Madoff’s fraud to Lehman Brothers’ bankruptcy.
New and Updated Practitioner Interviews. This text includes both updated interviews with high-level practitioners that incorporate an “inside” perspective on the financial crisis of 2007, and new interviews featuring Frederic S. Mishkin, former Federal Reserve Board governor; David Holland, Senior Vice President and Treasurer of Cisco; and Shelagh Glaser, Director for Intel's Mobility Group.
Two-hundred New Problems and MyFinanceLab Upgrade. Jonathan Berk and Peter DeMarzo wrote over two-hundred new problems for the Second Edition. Every problem is now available in MyFinanceLab, the groundbreaking homework and tutorial system, along with context-dependent hints based on prior user data.
UPDATED! Chapter 1, The Corporation: now includes global perspectives on corporations and organisational forms.
NEW! Three new Data Cases providing examples on Danish company Novo Nordisk, and Nokia. (chapters 7, 14 and 15)
NEW! IFRS, Fully revised chapter 2 – Introduction to Financial Statement Analysis – to incorporate International Financial Reporting Standards (IFRS). Changes to this chapter include:
- Coverage of International Financial Reporting Standards (IFRS) and the differences with US GAAP
- New balance sheets, cash flow statements and income statements following IFRS format
- Extended example on Nokia running throughout the chapter using real data
- Mothercare, Heinz, and Vodafone used as examples
NEW! Chapter 12, “Estimating the Cost of Capital.” Written in response to users who wanted a single place in the book that explained how to calculate the cost of capital, the chapter is a practical guide to implementing the risk-return model derived in the previous two chapters.
NEW!Expanded Chapter 13, “Investor Behavior and Capital Market Efficiency.” This chapter presents compelling evidence on investor behavior and examines how this behavior impacts the efficiency of the market portfolio.
NEW! Financial Crisis Boxes. To reflect the reality of the financial crisis of 2007, Financial Crisis Boxes—twenty-one in total—illustrate and analyze key details about the financial crisis, ranging from Madoff’s fraud to Lehman Brothers’ bankruptcy.
New and Updated Practitioner Interviews. This text includes both updated interviews with high-level practitioners that incorporate an “inside” perspective on the financial crisis of 2007, and new interviews featuring Frederic S. Mishkin, former Federal Reserve Board governor; David Holland, Senior Vice President and Treasurer of Cisco; and Shelagh Glaser, Director for Intel's Mobility Group.
Two-hundred New Problems and MyFinanceLab Upgrade. Jonathan Berk and Peter DeMarzo wrote over two-hundred new problems for the Second Edition. Every problem is now available in MyFinanceLab, the groundbreaking homework and tutorial system, along with context-dependent hints based on prior user data.
UPDATED! Chapter 1, The Corporation: now includes global perspectives on corporations and organisational forms.
NEW! Three new Data Cases providing examples on Danish company Novo Nordisk, and Nokia. (chapters 7, 14 and 15)