Financial management continues to change at a rapid pace. Advancements are occurring not only in the theory of financial management but also in its real-world practice. One result has been for financial management to take on a greater strategic focus, as managers struggle to create value within a corporate setting. In the process of value creation, financial managers are increasingly supple…
When the three of us decided to write a book, we were united by one strongly held principle: Corporate finance should be developed in terms of a few integrated, powerful ideas. We believed that the subject was all too often presented as a collection of loosely related topics, unified primarily by virtue of being bound together in one book, and we thought there must be a better way. One thing we…
Why should you buy this book? There are certainly others to choose from, each with a viewpoint that reflects the author’s background and opinions. Why this one? Why this particular author’s background and opinions? The answer is communication: this book is in a sense a communication manual for non-financial managers. I believe there is a great need for better communication between financ…
WE WERE MOTIVATED TO WRITE THIS TEXTBOOK BY A CENTRAL insight: The core concepts in finance are simple and intuitive. What makes the subject challenging is that it is often difficult for a novice to distinguish between these core ideas and other intuitively appealing approaches that, if used in financial decision making, will lead to incorrect decisions. De-emphasizing the core concepts that un…
We are very pleased with the success of the first edition of the book. It has encouraged us to retain the approach in order to explain corporate finance to students and professionals. There are four key features that distinguish this book from the many other corporate finance text books available on the market today: • Our strong belief that financial analysis is part of corporate finance…