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Corporate Finance https://www.mheducation.com/cover-images/Jpeg_400-high/1259918947.jpeg 12 2019 9781259918940 Corporate Finance, by Ross, Westerfield, Jaffe, and Jordan emphasizes the modern fundamentals of the theory of finance, while providing contemporary examples to make the theory come to life. The authors aim to present corporate finance as the working of a small number of integrated and powerful intuitions, rather than a collection of unrelated topics. They develop the central concepts of modern finance: arbitrage, net present value, efficient markets, agency theory, options, and the trade-off between risk and return, and use them to explain corporate finance with a balance of theory and application. The Twelfth Edition includes many exciting new research findings as well as the incorporation of the Tax Cuts and Jobs Act (TCJA) throughout the text. Connect is proven to deliver better results for students and instructors. Proven content integrates seamlessly with enhanced digital tools to create a personalized learning experience that provides students with precisely what they need, when they need it. With Connect, the educational possibilities are limitless.
09781259918940
Corporate Finance

Corporate Finance, 12th Edition

ISBN10: 1259918947 | ISBN13: 9781259918940
By Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan

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* The estimated amount of time this product will be on the market is based on a number of factors, including faculty input to instructional design and the prior revision cycle and updates to academic research-which typically results in a revision cycle ranging from every two to four years for this product. Pricing subject to change at any time.

Purchase Options:

* The estimated amount of time this product will be on the market is based on a number of factors, including faculty input to instructional design and the prior revision cycle and updates to academic research-which typically results in a revision cycle ranging from every two to four years for this product. Pricing subject to change at any time.

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Corporate Finance, by Ross, Westerfield, Jaffe, and Jordan emphasizes the modern fundamentals of the theory of finance, while providing contemporary examples to make the theory come to life. The authors aim to present corporate finance as the working of a small number of integrated and powerful intuitions, rather than a collection of unrelated topics. They develop the central concepts of modern finance: arbitrage, net present value, efficient markets, agency theory, options, and the trade-off between risk and return, and use them to explain corporate finance with a balance of theory and application. The Twelfth Edition includes many exciting new research findings as well as the incorporation of the Tax Cuts and Jobs Act (TCJA) throughout the text. Connect is proven to deliver better results for students and instructors. Proven content integrates seamlessly with enhanced digital tools to create a personalized learning experience that provides students with precisely what they need, when they need it. With Connect, the educational possibilities are limitless.

Part I Overview


1  Introduction to Corporate Finance 
2  Financial Statements and Cash Flow 
3  Financial Statements Analysis and Financial Models 


Part II  Valuation and Capital Budgeting 


4  Discounted Cash Flow Valuation 
5  Net Present Value and Other Investment Rules 
6  Making Capital Investment Decisions 
7  Risk Analysis, Real Options, and Capital Budgeting 
8  Interest Rates and Bond Valuation 
9  Stock Valuation 


Part III Risk


10  Lessons from Market History 
11  Return, Risk, and the Capital Asset Pricing Model (CAPM)
12  An Alternative View of Risk and Return: The Arbitrage Pricing Theory 
13  Risk, Cost of Capital, and Valuation 


Part IV Capital Structure and Dividend Policy


14  Efficient Capital Markets and Behavioral Challenges 
15  Long-Term Financing
16  Capital Structure: Basic Concepts 
17  Capital Structure: Limits to the Use of Debt 
18  Valuation and Capital Budgeting for the Levered Firm 
19  Dividends and Other Payouts 


Part V Long-Term Financing


20  Raising Capital 
21  Leasing 


Part VI Options, Futures, and Corporate Finance


22  Options and Corporate Finance 
23  Options and Corporate Finance: Extensions and Applications 
24  Warrants and Convertibles
25  Derivatives and Hedging Risk 


Part VII Short-Term Finance


26  Short-Term Finance and Planning 
27  Cash Management 
28  Credit and Inventory Management 


Part VIII Special Topics


29  Mergers, Acquisitions, and Divestitures  
30  Financial Distress 
31  International Corporate Finance 


Appendix A: Mathematical Tables 
Appendix B: Solutions to Selected End-of-Chapter Problems 
Appendix C: Using the HP 10B and TI BA II Plus Financial Calculators 




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About the Author

Stephen Ross

The late Stephen A. Ross was the Franco Modigliani Professor of Finance and Economics at the Sloan School of Management, Massachusetts Institute of Technology. One of the most widely published authors in finance and economics, Professor Ross was known for his work in developing the Arbitrage Pricing Theory as well as his substantial contributions to the discipline through his research on signaling, agency theory, option pricing, and the theory of the term structure of interest rates, among other topics. A past president of the American Finance Association, he also served as an associate editor of various academic and practitioner journals. He was a trustee of CalTech. 

Randolph Westerfield

Randolph W. Westerfield is Dean Emeritus and the Charles B. Thornton Professor in Finance Emeritus at the University of Southern California’s Marshall School of Business. Professor Westerfield came to USC from the Wharton School, University of Pennsylvania, where he was the chairman of the finance department and a member of the finance faculty for 20 years. He is a member of the board of trustees of Oaktree Capital mutual funds. His areas of expertise include corporate financial policy, investment management, and stock market price behavior.

Jeffrey Jaffe

Jeffrey F. Jaffe has been a frequent contributor to finance and economic literature in such journals as the Quarterly Economic Journal, The Journal of Finance, The Journal of Financial and Quantitative Analysis, The Journal of Financial Economics, and The Financial Analysts Journal . His best-known work concerns insider trading, where he showed both that corporate insiders earn abnormal profits from their trades and that regulation has little effect on these profits. He has also made contributions concerning initial public offerings, the regulation of utilities, the behavior of market makers, the fluctuation of gold prices, the theoretical effect of inflation on the interest rate, the empirical effect of inflation on capital asset prices, the relationship between small-capitalization stocks and the January effect, and the capital structure decision.

Bradford Jordan

Bradford D. Jordan is Visiting Scholar in the Warrington College of Business at the University of Florida. He previously held the duPont Endowed Chair in Banking and Financial Services at the University of Kentucky, where he was department chair for many years. Professor Jordan has published numerous articles in top journals on issues such as cost of capital, capital structure, and the behavior of security prices. He is a past president of the Southern Finance Association, and he is coauthor of Fundamentals of Investments: Valuation and Management, 9e, a leading investments text, also published by McGraw Hill.

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