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Full Description
Finance is the study of value and how it is determined. Individuals, small businesses and corporations regularly make use of value determinations for making strategic decisions that affect the future outcomes of their endeavors. The importance of accurate valuations cannot be overestimated; valuing assets too highly will lead to investing in assets whose costs are greater than their returns, while undervaluing assets will lead to missed opportunities for growth. In some situations (such as a merger or an acquisition), the outcome of the decision can make or break the investor. The need for solid financial skills has never been more pressing than in today's global economy.
The Fundamental Principles of Finance offers a new and innovative approach to financial theory. The book introduces three fundamental principles of finance that flow throughout the theoretical material covered in most corporate finance textbooks. These fundamental principles are developed in their own chapter of the book, then referred to in each chapter introducing financial theory. In this way, the theory is able to be mastered at a fundamental level. The interactions among the principles are introduced through the three precepts, which help show the impact of the three principles on financial decision-making.
This fresh and original approach to finance will be key reading for undergraduate students of introduction to finance, corporate finance, capital markets, financial management and related courses, as well as managers undertaking MBAs.
Contents
1. The Fundamental Principles of Finance 2. Time Value of Money 3. Risk and Return 4. The Term Structure of Interest Rates 5. Bonds and Bond Valuation 6. Stocks and Stock Valuation 7. Capital Budgeting Decision Methods 8. Capital Structure and the WACC 9. Analyzing and Forecasting Financial Statements 10. Finance Within the Firm 11. Legal and Ethical Issues in Finance 12. Financial Markets and Institutions
