Fundamentals of Corporate Finance 5th Edition by Robert Parrino, ISBN-13: 978-1119795438
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Fundamentals of Corporate Finance 5th Edition by Robert Parrino, ISBN-13: 978-1119795438
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- Publisher: Wiley; 5th edition (December 14, 2021)
- Language: English
- 832 pages
- ISBN-10: 1119795435
- ISBN-13: 978-1119795438
Fundamentals of Corporate Finance, 5th Edition develops the key concepts of corporate finance with an intuitive approach while emphasizing computational skills. This course helps students develop an intuitive understanding of key financial concepts and provides them with problem-solving and decision-making skills. Using an intuitive approach, students develop a richer understanding of corporate finance concepts while also enabling them to develop the critical judgments necessary to apply financial tools in real-world decision-making situations.
Corporate Finance, 5e offers a level of rigor that is appropriate for both business and finance majors and yet presents the content in a manner that students find accessible.
Table of Contents:
Cover
Title Page
Copyright
Dedication
About the Authors
Preface
Organization and Coverage
Proven Pedagogical Framework
New to This Edition
Acknowledgements
BUILDING INTUITION
CHAPTER 1: The Financial Manager and the Firm
Chapter Introduction
1.1 The Role of the Financial Manager
1.2 Forms of Business Organization
1.3 Managing the Financial Function
1.4 The Goal of the Firm
1.5 Agency Conflicts: Separation of Ownership and Control
1.6 The Importance of Ethics in Business
Summary of Learning Objectives
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
Ethics Case: Incentives and Ethics: Cross-Selling at Wells Fargo
CHAPTER 2: The Financial System and the Level of Interest Rates
Chapter Introduction
2.1 The Financial System
2.2 Direct Financing
2.3 Types of Financial Markets
2.4 Market Efficiency
2.5 Financial Institutions and Indirect Financing
2.6 The Determinants of Interest Rate Levels
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 3: Financial Statements, Cash Flows, and Taxes
Chapter Introduction
3.1 Financial Statements and Accounting Principles
3.2 The Balance Sheet
3.3 Market Value versus Book Value
3.4 The Income Statement and the Statement of Retained Earnings
3.5 The Statement of Cash Flows
3.6 Tying Together the Financial Statements
3.7 Cash Flow to Investors
3.8 Federal Income Tax
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 4: Analyzing Financial Statements
Chapter Introduction
4.1 Background for Financial Statement Analysis
4.2 Common-Size Financial Statements
4.3 Financial Ratios and Firm Performance
4.4 The Dupont System: A Diagnostic Tool
4.5 Selecting a Benchmark
4.6 Using Financial Ratios
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
Ethics Case: A Sad Tale: The Demise of Arthur Andersen
CHAPTER 5: The Time Value of Money
Chapter Introduction
5.1 The Time Value of Money
5.2 Future Value and Compounding
5.3 Present Value and Discounting
5.4 Additional Concepts and Applications
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 6: Discounted Cash Flows and Valuation
Chapter Introduction
6.1 Multiple Cash Flows
6.2 Level Cash Flows: Annuities
6.3 Level Cash Flows: Perpetuities
6.4 Cash Flows That Grow at a Constant Rate
6.5 The Effective Annual Interest Rate
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
Appendix: Deriving the Formula for the Present Value of an Ordinary Annuity
Problem
Ethics Case: America’s Ailing Drug Prices
CHAPTER 7: Risk and Return
Chapter Introduction
7.1 Risk and Return
7.2 Holding Period Returns
7.3 Expected Returns
7.4 Variance and Standard Deviation as Measures of Risk
7.5 Arithmetic Average and Geometric (Compounded) Average Returns
7.6 Risk and Diversification
7.7 Systematic Risk
7.8 The Capital Asset Pricing Model
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
Ethics Case: Pay for Performance or Just More Pay? The Conflicting Case for CEO Pay
CHAPTER 8: Bond Valuation and the Structure of Interest Rates
Chapter Introduction
8.1 Corporate Bonds
8.2 Bond Valuation
8.3 Bond Yields
8.4 Interest Rate Risk
8.5 The Determinants of Corporate Borrowing Costs
8.6 The Term Structure of Interest Rates
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
Ethics Case: The Subprime Mortgage Market Meltdown: How Did It Happen?
CHAPTER 9: Stock Valuation
Chapter Introduction
9.1 The Market for Stocks
9.2 Common and Preferred Stock
9.3 Common Stock Valuation
9.4 The General Dividend-Valuation Model
9.5 Stock Valuation: Some Simplifying Assumptions
9.6 The Relation between R and g
9.7 Valuing Preferred Stock
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
Ethics Case: Insider Trading: Have I Got a Stock Tip for You!
CHAPTER 10: The Fundamentals of Capital Budgeting
Chapter Introduction
10.1 An Introduction to Capital Budgeting
10.2 Net Present Value
10.3 The Payback Period
10.4 The Accounting Rate of Return
10.5 Internal Rate of Return
10.6 Investment Decisions with Capital Rationing
10.7 Capital Budgeting in Practice
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
Ethics Case: Going Green: Can Automakers Invest in Environmental Solutions?
CHAPTER 11: Cash Flows and Capital Budgeting
Chapter Introduction
11.1 Calculating Project Cash Flows
11.2 Estimating Cash Flows in Practice
11.3 Forecasting Free Cash Flows
11.4 Special Cases
11.5 Harvesting an Asset
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
Ethics Case: Unilever’s Sustainable Living Plan
CHAPTER 12: Evaluating Project Economics
Chapter Introduction
12.1 Variable Costs, Fixed Costs, and Project Risk
12.2 Calculating Operating Leverage
12.3 Break-Even Analysis
12.4 The Economic Break-Even Point
12.5 Risk Analysis
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 13: The Cost of Capital
Chapter Introduction
13.1 The Firm’s Overall Cost of Capital
13.2 The Cost of Debt
13.3 The Cost of Equity
13.4 Using the WACC in Practice
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 14: Working Capital Management
Chapter Introduction
14.1 Working Capital Basics
14.2 The Operating and Cash Conversion Cycles
14.3 Working Capital Management Strategies
14.4 Accounts Receivable
14.5 Inventory Management
14.6 Cash Management and Budgeting
14.7 Financing Working Capital
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 15: How Firms Raise Capital
Chapter Introduction
15.1 Bootstrapping
15.2 Venture Capital
15.3 Initial Public Offering
15.4 IPO Pricing and Cost
15.5 General Cash Offer by a Public Company
15.6 Private Markets
15.7 Commercial Bank Loans
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 16: Capital Structure Policy
Chapter Introduction
16.1 Capital Structure and Firm Value
16.2 The Benefits and Costs of Using Debt
16.3 Two Theories of Capital Structure
16.4 Practical Considerations in Choosing a Capital Structure
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
Appendix: Leasing
Summary of Learning Objectives
Self-Study Problems
Discussion Questions
Questions and Problems
CHAPTER 17: Dividends, Stock Repurchases, and Payout Policy
Chapter Introduction
17.1 Dividends
17.2 Stock Repurchases
17.3 Dividends and Firm Value
17.4 Stock Dividends and Stock Splits
17.5 Setting a Dividend Payout
Summary of Learning Objectives
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 18: Business Formation, Growth, and Valuation
Chapter Introduction
18.1 Starting a Business
18.2 The Role of the Business Plan
18.3 Valuing a Business
18.4 Important Issues in Valuation
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 19: Financial Planning and Managing Growth
Chapter Introduction
19.1 Financial Planning
19.2 Financial Planning Models
19.3 A Better Financial Planning Model
19.4 Beyond the Basic Planning Models
19.5 Managing and Financing Growth
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 20: Options and Corporate Finance
Chapter Introduction
20.1 Financial Options
20.2 Option Valuation
20.3 Real Options
20.4 Agency Costs
20.5 Options and Risk Management
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
CHAPTER 21: International Financial Management
Chapter Introduction
21.1 Introduction to International Financial Management
21.2 Foreign Exchange Markets
21.3 International Capital Budgeting
21.4 Global Money and Capital Markets
21.5 International Banking
Summary of Learning Objectives
Summary of Key Equations
Self-Study Problems
Discussion Questions
Questions and Problems
Sample Test Problems
Appendix A: Future Value and Present Value Tables
Appendix B: Solutions to Odd Problems
Appendix C: The 2017 Tax Cuts and Jobs Act: Implications for Cash Flow to Investors, the Cost of Capital, and Capital Structure
Selected Abbreviations and Notation
Glossary
Subject Index
Company Index
CHAPTER 0: Math and Skills Review
0.1 Equations
0.2 Order of Operations
0.3 Statistics
0.4 Fractions and Percent
0.5 Interest and Dividend Payments
0.6 Probability
0.7 Graphs
0.8 Infinite Series
0.9 Data Analysis – Inference
0.10 Earnings Quality
0.11 Accounting Cycle and Adjusting Journal Entries
0.12 Income Statement
0.13 Balance Sheet
0.14 Statement of Cash Flows
0.15 Impact of Accounting on Key Financial Ratios
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