Description
Corporate Finance: A Focused Approach | 5th Edition Michael C. Ehrhardt EBOOK PDF Instant Download
Table of Contents
Brief Contents
Contents
Preface
Part 1: The Company and Its Environment
Ch 1: An Overview of Financial Management and the Financial Environment
1-1: The Five-Minute MBA
1-2: The Corporate Life Cycle
1-3: The Primary Objective of the Corporation: Value Maximization
1-4: An Overview of the Capital Allocation Process
1-5: Financial Securities
1-6: The Cost of Money
1-7: Financial Institutions
1-8: Financial Markets
1-9: Trading Procedures in Financial Markets
1-10: Types of Stock Market Transactions
1-11: The Secondary Stock Markets
1-12: Stock Market Returns
1-13: The Global Economic Crisis
1-14: The Big Picture
1-15: e-Resources
Summary
Questions
Mini Case
Ch 2: Financial Statements, Cash Flow, and Taxes
2-1: Financial Statements and Reports
2-2: The Balance Sheet
2-3: The Income Statement
2-4: Statement of Stockholders’ Equity
2-5: Statement of Cash Flows
2-6: Net Cash Flow
2-7: Free Cash Flow: The Cash Flow Available for Distribution to Investors
2-8: Performance Evaluation
2-9: The Federal Income Tax System
Summary
Questions
Self-Test Problem: Solution Appears in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problems
Thomson One: Business School Edition Problem
Mini Case
Ch 3: Analysis of Financial Statements
3-1: Financial Analysis
3-2: Liquidity Ratios
3-3: Asset Management Ratios
3-4: Debt Management Ratios
3-5: Profitability Ratios
3-6: Market Value Ratios
3-7: Trend Analysis, Common Size Analysis, and Percentage Change Analysis
3-8: Tying the Ratios Together: The DuPont Equation
3-9: Comparative Ratios and Benchmarking
3-10: Uses and Limitations of Ratio Analysis
3-11: Looking beyond the Numbers
Summary
Questions
Self-Test Problems: Solutions Appear in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problems
Thomson One: Business School Edition Problem
Mini Case
Selected Additional Cases
Part 2: Fixed Income Securities
Ch 4: Time Value of Money
4-1: Time Lines
4-2: Future Values
4-3: Present Values
4-4: Finding the Interest Rate, I
4-5: Finding the Number of Years, N
4-6: Perpetuities
4-7: Annuities
4-8: Future Value of an Ordinary Annuity
4-9: Future Value of an Annuity Due
4-10: Present Value of Ordinary Annuities and Annuities Due
4-11: Finding Annuity Payments, Periods, and Interest Rates
4-12: Uneven, or Irregular, Cash Flows
4-13: Future Value of an Uneven Cash Flow Stream
4-14: Solving for I with Irregular Cash Flows
4-15: Semiannual and Other Compounding Periods
4-16: Fractional Time Periods
4-17: Amortized Loans
Summary
Questions
Self-Test Problems: Solutions Appear in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problem
Mini Case
Ch 5: Bond, Bond Valuation, and Interest Rates
5-1: Who Issues Bonds?
5-2: Key Characteristics of Bonds
5-3: Bond Valuation
5-4: Changes in Bond Values over Time
5-5: Bonds with Semiannual Coupons
5-6: Bond Yields
5-7: The Pre-Tax Cost of Debt: Determinants of Market Interest Rates
5-8: The Real Risk-Free Rate of Interest, r*
5-9: The Inflation Premium (IP)
5-10: The Nominal, or Quoted, Risk-Free Rate of Interest, rRF
5-11: The Default Risk Premium (DRP)
5-12: The Liquidity Premium (LP)
5-13: The Maturity Risk Premium (MRP)
5-14: The Term Structure of Interest Rates
5-15: Financing with Junk Bonds
5-16: Bankruptcy and Reorganization
Summary
Questions
Self-Test Problem: Solution Appears in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problems
Mini Case
Selected Additional Cases
Part 3: Stocks and Options
Ch 6: Risk and Return
6-1: Investment Returns and Risk
6-2: Measuring Risk for Discrete Distributions
6-3: Risk in a Continuous Distribution
6-4: Using Historical Data to Estimate Risk
6-5: Risk in a Portfolio Context
6-6: The Relevant Risk of a Stock: The Capital Asset Pricing Model (CAPM)
6-7: The Relationship between Risk and Return in the Capital Asset Pricing Model
6-8: The Efficient Markets Hypothesis
6-9: The Fama-French Three-Factor Model
6-10: Behavioral Finance
6-11: The CAPM and Market Efficiency: Implications for Corporate Managers and Investors
Summary
Questions
Self-Test Problems: Solutions Appear in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problem
Thomson One: Business School Edition Problem
Mini Case
Selected Additional Cases
Ch 7: Valuation of Stocks and Corporations
7-1: Legal Rights and Privileges of Common Stockholders
7-2: Types of Common Stock
7-3: Stock Market Reporting
7-4: Valuing Common Stocks
7-5: Valuing a Constant Growth Stock
7-6: Valuing Nonconstant Growth Stocks
7-7: The Free Cash Flow Valuation Model
7-8: Market Multiple Analysis
7-9: Preferred Stock
Summary
Questions
Self-Test Problems: Solutions Appear in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problems
Thomson One: Business School Edition Problem
Mini Case
Selected Additional Cases
Ch 8: Financial Options and Applications in Corporate Finance
8-1: Overview of Financial Options
8-2: The Single-Period Binomial Option Pricing Approach
8-3: The Single-Period Binomial Option Pricing Formula
8-4: The Multi-Period Binomial Option Pricing Model
8-5: The Black-Scholes Option Pricing Model (OPM)
8-6: The Valuation of Put Options
8-7: Applications of Option Pricing in Corporate Finance
Summary
Questions
Self-Test Problems: Solutions Appear in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problems
Mini Case
Part 4: Projects and Their Valuation
Ch 9: The Cost of Capital
9-1: The Weighted Average Cost of Capital
9-2: Choosing Weights for the Weighted Average Cost of Capital
9-3: After-Tax Cost of Debt: rd(1 – T) and rstd(1 – T)
9-4: Cost of Preferred Stock, rps
9-5: Cost of Common Stock: The Market Risk Premium, RPM
9-6: Using the CAPM to Estimate the Cost of Common Stock, rs
9-7: Dividend-Yield-Plus-Growth-Rate, or Discounted Cash Flow (DCF), Approach
9-8: The Weighted Average Cost of Capital (WACC)
9-9: Adjusting the Cost of Equity for Flotation Costs
9-10: Privately Owned Firms and Small Businesses
9-11: Managerial Issues and the Cost of Capital
9-12: Four Mistakes to Avoid
Summary
Questions
Self-Test Problem: Solution Appears in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problem
Thomson One: Business School Edition Problem
Mini Case
Selected Additional Cases
Ch 10: The Basics of Capital Budgeting: Evaluating Cash Flows
10-1: An Overview of Capital Budgeting
10-2: The First Step in Project Analysis
10-3: Net Present Value (NPV)
10-4: Internal Rate of Return (IRR)
10-5: Modified Internal Rate of Return (MIRR)
10-6: Profitability Index (PI)
10-7: Payback Period
10-8: How to Use the Different Capital Budgeting Methods
10-9: Other Issues in Capital Budgeting
Summary
Questions
Self-Test Problem: Solution Appears in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problem
Mini Case
Selected Additional Cases
Ch 11: Cash Flow Estimation and Risk Analysis
11-1: Identifying Relevant Cash Flows
11-2: Analysis of an Expansion Project
11-3: Risk Analysis in Capital Budgeting
11-4: Measuring Stand-Alone Risk
11-5: Sensitivity Analysis
11-6: Scenario Analysis
11-7: Monte Carlo Simulation
11-8: Project Risk Conclusions
11-9: Replacement Analysis
11-10: Real Options
11-11: Phased Decisions and Decision Trees
Summary
Questions
Self-Test Problems: Solutions Appear in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problem
Mini Case
Selected Additional Cases
Appendix 11A: Tax Depreciation
Part 5: Corporate Valuation and Governance
Ch 12: Corporate Valuation and Financial Planning
12-1: Overview of Financial Planning
12-2: Financial Planning at MicroDrive, Inc.
12-3: Forecasting Operations
12-4: Projecting MicroDrive’s Financial Statements
12-5: Analysis and Revision of the Preliminary Plan
12-6: Additional Funds Needed (AFN) Equation Method
12-7: Forecasting When the Ratios Change
Summary
Questions
Self-Test Problems: Solutions Appear in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problems
Thomson One: Business School Edition Problem
Mini Case
Selected Additional Cases
Ch 13: Agency Conflicts and Corporate Governance
13-1: Agency Conflicts
13-2: Corporate Governance
13-3: Employee Stock Ownership Plans (ESOPs)
Summary
Questions
Mini Case
Part 6: Cash Distributions and Capital Structure
Ch 14: Distributions to Shareholders: Dividends and Repurchases
14-1: An Overview of Cash Distributions
14-2: Procedures for Cash Distributions
14-3: Cash Distributions and Firm Value
14-4: Clientele Effect
14-5: Information Content, or Signaling, Hypothesis
14-6: Implications for Dividend Stability
14-7: Setting the Target Distribution Level: The Residual Distribution Model
14-8: The Residual Distribution Model in Practice
14-9: A Tale of Two Cash Distributions: Dividends versus Stock Repurchases
14-10: The Pros and Cons of Dividends and Repurchases
14-11: Other Factors Influencing Distributions
14-12: Summarizing the Distribution Policy Decision
14-13: Stock Splits and Stock Dividends
14-14: Dividend Reinvestment Plans
Summary
Questions
Self-Test Problems: Solutions Appear in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problem
Thomson One: Business School Edition Problem
Mini Case
Selected Additional Cases
Ch 15: Capital Structure Decisions
15-1: An Overview of Capital Structure
15-2: Business Risk and Financial Risk
15-3: Capital Structure Theory
15-4: Capital Structure Evidence and Implications
15-5: Estimating the Optimal Capital Structure
15-6: Anatomy of a Recapitalization
Summary
Questions
Self-Test Problems: Solutions Appear in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problem
Thomson One: Business School Edition Problem
Mini Case
Selected Additional Cases
Part 7: Managing Global Operations
Ch 16: Supply Chains and Working Capital Management
16-1: Overview of Working Capital Management
16-2: Using and Financing Operating Current Assets
16-3: The Cash Conversion Cycle
16-4: The Cash Budget
16-5: Cash Management and the Target Cash Balance
16-6: Cash Management Techniques
16-7: Inventory Management
16-8: Receivables Management
16-9: Accruals and Accounts Payable (Trade Credit)
16-10: Managing Short-Term Investments
16-11: Short-Term Financing
16-12: Short-Term Bank Loans
16-13: Commercial Paper
16-14: Use of Security in Short-Term Financing
Summary
Questions
Self-Test Problems: Solutions Appear in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problem
Mini Case
Selected Additional Cases
Ch 17: Multinational Financial Management
17-1: Multinational, or Global, Corporations
17-2: Multinational versus Domestic Financial Management
17-3: Exchange Rates
17-4: Exchange Rates and International Trade
17-5: The International Monetary System and Exchange Rate Policies
17-6: Trading in Foreign Exchange
17-7: Interest Rate Parity
17-8: Purchasing Power Parity
17-9: Inflation, Interest Rates, and Exchange Rates
17-10: International Money and Capital Markets
17-11: Multinational Capital Budgeting
17-12: International Capital Structures
17-13: Multinational Working Capital Management
Summary
Questions
Self-Test Problem: Solution Appears in Appendix A
Problems: Answers Appear in Appendix B
Spreadsheet Problem
Mini Case
Selected Additional Cases
Appendix A: Solutions to Self-Test Problems
Appendix B: Answers to End-of-Chapter Problems
Appendix C: Selected Equations
Appendix D: Values of the Areas under the Standard Normal Distribution Function
Glossary
Name Index
Subject Index
