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Principles of Corporate Finance https://www.mheducation.com/cover-images/Jpeg_400-high/1260013901.jpeg 13 2020 9781260013900 Brealey, Principles of Corporate Finance, 13e, describes the theory and practice of corporate finance. We hardly need to explain why financial managers have to master the practical aspects of their job, but we should spell out why down-to-earth managers need to bother with theory. Throughout this book, we show how managers use financial theory to solve practical problems. Much of this book is concerned with understanding what financial managers do and why. But we also say what financial managers should do to increase company value. Some of the biggest changes in this edition were prompted by the tax changes enacted in the U.S. Tax Cuts and Jobs Act passed in December 2017. In the current edition, we have also continued to augment the international content as well as a number of chapters that have been thoroughly rewritten. For example, the material on agency issues in Chapter 12 has been substantially revised. Chapter 13 on market efficiency and behavioral finance is now fresher and more up to date. Chapter 23 on credit risk focuses more on the practical issues of forecasting default probabilities.
09781260013900
Principles of Corporate Finance
Principles of Corporate Finance

Principles of Corporate Finance, 13th Edition

ISBN10: 1260013901 | ISBN13: 9781260013900
By Richard Brealey, Stewart Myers and Franklin Allen
© 2020 View newer edition

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Brealey, Principles of Corporate Finance, 13e, describes the theory and practice of corporate finance. We hardly need to explain why financial managers have to master the practical aspects of their job, but we should spell out why down-to-earth managers need to bother with theory. Throughout this book, we show how managers use financial theory to solve practical problems. Much of this book is concerned with understanding what financial managers do and why. But we also say what financial managers should do to increase company value. Some of the biggest changes in this edition were prompted by the tax changes enacted in the U.S. Tax Cuts and Jobs Act passed in December 2017. In the current edition, we have also continued to augment the international content as well as a number of chapters that have been thoroughly rewritten. For example, the material on agency issues in Chapter 12 has been substantially revised. Chapter 13 on market efficiency and behavioral finance is now fresher and more up to date. Chapter 23 on credit risk focuses more on the practical issues of forecasting default probabilities.

Table of Contents

Part One: Value
Ch. 1 Introduction to Corporate Finance
Ch. 2 How to Calculate Present Values
Ch. 3 Valuing Bonds
Ch. 4 The Value of Common Stocks
Ch. 5 Net Present Value and Other Investment Criteria
Ch. 6 Making Investment Decisions with the Net Present Value Rule

Part Two: Risk
Ch. 7 Introduction to Risk and Return
Ch. 8 Portfolio Theory and the Capital Asset Pricing Model
Ch. 9 Risk and the Cost of Capital

Part Three: Best Practices in Capital Budgeting
Ch. 10 Project Analysis
Ch. 11 How to Ensure that Projects Truly Have Positive NPVs
Ch. 12 Agency Problems and Investment

Part Four: Financing Decisions and Market Efficiency
Ch. 13 Efficient Markets and Behavioral Finance
Ch. 14 An Overview of Corporate Financing
Ch. 15 How Corporations Issue Securities

Part Five: Payout Policy and Capital Structure
Ch. 16 Payout Policy
Ch. 17 Does Debt Policy Matter?
Ch. 18 How Much Should a Corporation Borrow
Ch. 19 Financing and Valuation

Part Six: Options
Ch. 20 Understanding Options
Ch. 21 Valuing Options
Ch. 22 Real Options

Part Seven: Debt Financing
Ch. 23 Credit Risk and the Value of Corporate Debt
Ch. 24 The Many Different Kinds of Debt
Ch. 25 Leasing

Part Eight: Risk Management
Ch. 26 Managing Risk
Ch. 27 Managing International Risks

Part Nine: Financial Planning and Working Capital Management
Ch. 28 Financial Analysis
Ch. 29 Financial Planning
Ch. 30 Working Capital Management

Part Ten: Mergers, Corporate Control, and Governance
Ch. 31 Mergers
Ch. 32 Corporate Restructuring
Ch. 33 Governance and Corporate Control around the World

Part Eleven: Conclusion
Ch. 34 Conclusion: What We Do and Do Not Know about Finance
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About the Author

Richard Brealey

Richard A. Brealey - Emeritus Professor of Finance at London Business School. He is the former president of the European Finance Association and a former director of the American Finance Association. He is a fellow of the British Academy and has served as a special adviser to the Governor of the Bank of England and director of a number of financial institutions. Other books written by Professor Brealey include Introduction to Risk and Return from Common Stocks.

Stewart Myers

Stewart C. Myers - Emeritus Professor of Financial Economics at MIT’s Sloan School of Management. He is past president of the American Finance Association, a research associate at the National Bureau of Economic Research, a principal of the Brattle Group Inc., and a retired director of Entergy Corporation. His research is primarily concerned with the valuation of real and financial assets, corporate financial policy, and financial aspects of government regulation of business. He is the author of influential research papers on many topics, including adjusted present value, rate of return regulation, pricing and capital allocation in insurance, real options, and moral hazard and information issues in capital structure decisions.

Franklin Allen

Franklin Allen - Professor of Finance and Economics, Imperial College London, and Emeritus Nippon Life Professor of Finance at the Wharton School of the University of Pennsylvania. He is past president of the American Finance Association, Western Finance Association, Society for Financial Studies, Financial Intermediation Research Society, and Financial Management Association. His research has focused on financial innovation, asset price bubbles, comparing financial systems, and financial crises. He is Director of the Brevan Howard Centre for Financial Analysis at Imperial College Business School.

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