Intermediate Financial Management / Edition 12 available in Hardcover
The only book written specifically for Intermediate or Advanced Corporate Finance courses, Brigham/Daves' INTERMEDIATE FINANCIAL MANAGEMENT, 12E couples in-depth discussions of core issues with current coverage of the topics that are reshaping finance today. This comprehensive, student-friendly text from trusted finance authors Gene Brigham and Phillip Daves provides a unique balance of theory and practical applications to help you understand the financial problems facing businessesand the best solutions. The authors use corporate valuation as a unifying theme to emphasize the theoretic groundwork for value maximization and the practical skills to analyze business decisions. Real-world business examples, integrated Mini-Cases, end-of-chapter problems, and Excel spreadsheet models illustrate how financial theory in practice leads to stronger financial decisions.
About the Author
Dr. Eugene F. Brigham is Graduate Research Professor Emeritus at the University of Florida, where he has taught since 1971. He received his MBA and Ph.D. from the University of California-Berkeley and his undergraduate degree from the University of North Carolina. Prior to joining the University of Florida, Dr. Brigham held teaching positions at the University of Connecticut, the University of Wisconsin and the University of California-Los Angeles. A former president of the Financial Management Association, he has written many journal articles on the cost of capital, capital structure and other aspects of financial management. He has authored or co-authored 10 textbooks on managerial finance and managerial economics that are used at more than 1,000 universities in the United States and have been translated into 11 languages worldwide. In addition to his academic writing, Dr. Brigham continues to teach, consult and complete research. He has served as a consultant to many corporations and government agencies, including the Federal Reserve Board, the Federal Home Loan Bank Board, the U.S. Office of Telecommunications Policy and the RAND Corp., and he has testified as an expert witness in numerous electric, gas and telephone rate cases at both federal and state levels. Dr. Brigham spends his spare time on the golf course, enjoying time with his family and dogs, and tackling outdoor adventure activities, such as biking through Alaska.
Dr. Phillip R. Daves is Associate Professor of Finance at the University of Tennessee in Knoxville. His research interests encompass health care finance, asset pricing, derivative securities, and dividend policy. He has published papers in THE JOURNAL OF FINANCE, THE INTERNATIONAL JOURNAL OF FINANCE, APPLIED FINANCIAL ECONOMICS, JOURNAL OF FINANCIAL PRACTICE AND EDUCATION, and THE JOURNAL OF FINANCIAL AND STRATEGIC DECISIONS. Dr. Daves' special interests in teaching include health care finance, investments, financial management, and asset pricingwhich he teaches at the undergraduate, M.B.A., and Ph.D. levels. Consulting for a range of large and small companies as well as the state of Tennessee, he focuses on business valuation, compensation, value based management, and health care policy. He received his B.A. in economics from Davidson College, his M.S. in mathematics, and his Ph.D. in finance from the University of North Carolina at Chapel Hill.
Table of Contents
Part I Fundamental Concepts of Corporate Finance 1 An Overview of Financial Management and the Financial Environment 2 Risk and Return: Part I 3 Risk and Return: Part II 4 Bond Valuation 5 Financial Options 6 Accounting for Financial Management 7 Analysis of Financial Statements Part II Corporate Valuation 8 Basic Stock Valuation 9 Corporate Valuation and Financial Planning 10 Corporate Governance 11 Determining the Cost of Capital Part III Project Valuation 12 Capital Budgeting: Decision Criteria 13 Capital Budgeting: Estimating Cash Flows and Analyzing Risk 14 Real Options PART IV Strategic Financing Decisions 15 Distributions to Shareholders: Dividends and Repurchases 16 Capital Structure Decisions 17 Dynamic Capital Structures and Corporate Valuation PART V Tactical Financing Decisions 18 Initial Public Offerings, Investment Banking, and Financial Restructuring 19 Lease Financing 20 Hybrid Financing: Preferred Stock, Warrants, and Convertibles PART VI Working Capital Management 21 Supply Chains and Working Capital Management 22 Providing and Obtaining Credit 23 Other Topics in Working Capital Management PART VII Special Topics 24 Enterprise Risk Management 25 Bankruptcy, Reorganization, and Liquidation 26 Mergers and Corporate Control 27 Multinational Financial Management Web Chapters Chapter 28 Time Value of Money Chapter 29 Basic Financial Tools: A Review Chapter 30 Pension Plan Management Chapter 31 Financial Management in Not-for-Profit Businesses Appendixes Appendix A Values of the Areas under the Standard Normal Distribution Function Appendix B Answers to End-of-Chapter Problems Appendix C Selected Equations Glossary Name Index Subject Index Web Extension 1-AAn Overview of Derivative Web Extension 1-B A Closer Look at the Stock Markets Web Extension 2-AContinuous Probability Distributions Web Extension 2-B Estimating Beta with a Financial Calculator Web Extension 4-AA Closer Look at Zero Coupon and other OID Bonds Web Extension 4-B A Closer Look at TIPS: Treasury Inflation-Protected Securities Web Extension 4-C A Close Look at Bond Risk: Duration Web Extension 4-D The Pure Expectations Theory and Estimation of Forward Rates Web Extension 6-AThe Federal Income Tax System for Individuals Web Extension 8-ADerivation of Valuation Equations Web Extension 11-AThe Required Return Assuming NonConstant Dividends and Stock Repurchases Web Extension 12-AThe Accounting Rate of Return (ARR) Web Extension 13-ACertainty Equivalents and Risk-Adjusted Discount Rates Web Extension 14-AThe Abandonment Real Option Web Extension 14-B Risk-Neutral Valuation Web Extension 16-ADegree of Leverage Web Extension 18-ARights Offerings Web Extension 19-ALeasing Feedback Web Extension 19-B Percentage Cost Analysis Web Extension 19-C Leveraged Leases Web Extension 20-ACalling Convertible Issues Web Extension 21-ASecured Short-Term Financing Web Extension 25-AMultiple Discriminant Analysis Web Extension 26-AProjecting Consistent Debt and Interest Expenses Web Extension 28-AThe Tabular Approach Web Extension 28-B Derivation of Annuity Formulas Web Extension 28-C Continuous Compounding