Sale!

Fundamentals of Corporate Finance, Canadian Edition, by Jonathan Berk EBOOK PDF Instant Download

$19.00

Category:

Description

Fundamentals of Corporate Finance, Canadian Edition, by Jonathan Berk EBOOK PDF Instant Download

Table of Contents

  • Title Page
  • Copyright Page
  • Contents
  • About the Authors
  • Preface
  • PART 1 Introduction
  • 1 Corporate Finance and the Financial Manager
  • INTERVIEW WITH Amy Kwan, Certified Management Accountants of Ontario
  • 1.1 Why Study Finance?
  • 1.2 The Three Types of Firms
  • Corporate Taxation Around the World
  • 1.3 The Financial Manager
  • 1.4 The Financial Manager’s Place in the Corporation
  • 1.5 The Stock Market
  • 1.6 Financial Institutions
  • MyFinanceLab: Summary
  • Problems
  • 2 Introduction to Financial Statement Analysis
  • INTERVIEW WITH Fatoumata Diané, CIBC World Markets
  • 2.1 Firms’ Disclosure of Financial Information
  • International Financial Reporting Standards
  • 2.2 The Balance Sheet
  • 2.3 Balance Sheet Analysis
  • 2.4 The Income Statement
  • 2.5 Income Statement Analysis
  • COMMON MISTAKE: Mismatched Ratios
  • 2.6 The Statement of Cash Flows
  • 2.7 Other Financial Statement Information
  • 2.8 Financial Reporting in Practice
  • PRACTITIONER INTERVIEW WITH Sue Frieden, Ernst & Young
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Data Case
  • PART 2 Interest Rates and Valuing Cash Flows
  • 3 The Valuation Principle: The Foundation of Financial Decision Making
  • INTERVIEW WITH Karrilyn Wilcox, Marshall & Stevens Valuation Consulting
  • 3.1 Managerial Decision Making
  • Your Personal Financial Decisions
  • 3.2 Cost-Benefit Analysis
  • 3.3 Valuation Principle
  • When Competitive Market Prices Are Not Available
  • 3.4 The Time Value of Money and Interest Rates
  • 3.5 The NPV Decision Rule
  • 3.6 The Law of One Price
  • An Old Joke
  • Transactions Costs
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • 4 NPV and the Time Value of Money
  • INTERVIEW WITH Amanda Wittick, Investors Group
  • 4.1 The Timeline
  • 4.2 Valuing Cash Flows at Different Points in Time
  • COMMON MISTAKE: Summing Cash Flows Across Time
  • Rule of 72
  • Using a Financial Calculator: Solving for Present and Future Values
  • 4.3 Valuing a Stream of Cash Flows
  • 4.4 The Net Present Value of a Stream of Cash Flows
  • 4.5 Perpetuities, Annuities, and Other Special Cases
  • Historical Examples of Perpetuities
  • COMMON MISTAKE: Discounting One Too Many Times
  • 4.6 Solving for Variables Other Than Present Value or Future Value
  • Solving for n Using Logarithms
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Data Case
  • Chapter 4 Appendix: Using a Financial Calculator
  • 5 Interest Rates
  • INTERVIEW WITH Erica Pimentel, Ernst & Young
  • 5.1 Interest Rate Quotes and Adjustments
  • COMMON MISTAKE: Using the APR or EAR in the Annuity Formula
  • 5.2 Application: Discount Rates and Loans
  • 5.3 The Determinants of Interest Rates
  • COMMON MISTAKE: Using the Annuity Formula When Discount Rates Vary
  • 5.4 The Opportunity Cost of Capital
  • Interest Rates, Discount Rates, and the Cost of Capital
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • 6 Bonds
  • INTERVIEW WITH Shaun O’Malley, RBC Dominion Securities
  • 6.1 Bond Terminology
  • 6.2 Zero-Coupon Bonds
  • 6.3 Coupon Bonds
  • Finding Bond Prices on the Web
  • 6.4 Why Bond Prices Change
  • 6.5 Corporate Bonds
  • PRACTITIONER INTERVIEW WITH Lisa Black, Teachers Insurance and Annuity Association
  • The Credit Crisis and Bond Yields
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Data Case
  • Chapter 6 Appendix A: Solving for the Yield to Maturity of a Bond Using a Financial Calculator
  • Chapter 6 Appendix B: The Yield Curve and the Law of One Price
  • PART 3 Valuation and the Firm
  • 7 Investment Decision Rules
  • INTERVIEW WITH Jeff Blake, Porter Airlines, Inc.
  • 7.1 Using the NPV Rule
  • 7.2 Alternative Decision Rules
  • COMMON MISTAKE: IRR Versus the IRR Rule
  • Why Do Rules Other Than the NPV Rule Persist?
  • 7.3 Choosing Between Projects
  • PRACTITIONER INTERVIEW WITH Dick Grannis, Qualcomm, Inc.
  • 7.4 Evaluating Projects with Different Lives
  • 7.5 Choosing Among Projects When Resources Are Limited
  • 7.6 Putting It All Together
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Data Case
  • Chapter 7 Appendix: Using Excel to Make an NPV Profile
  • 8 Fundamentals of Capital Budgeting
  • INTERVIEW WITH Miriam Waldman, TD Commercial Banking
  • 8.1 The Capital Budgeting Process
  • 8.2 Forecasting Incremental Earnings
  • 8.3 Determining Incremental Free Cash Flow
  • 8.4 Other Effects on Incremental Free Cash Flows
  • COMMON MISTAKE: The Opportunity Cost of an Idle Asset
  • COMMON MISTAKE: The Sunk Cost Fallacy
  • 8.5 Analyzing the Project
  • 8.6 Real Options in Capital Budgeting
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Data Case
  • Chapter 8 Appendix A: Using Excel for Capital Budgeting
  • 9 Valuing Stocks
  • INTERVIEW WITH Christopher Ellis-Ferrara, AllianceBersntein
  • 9.1 Stock Basics
  • 9.2 The Dividend-Discount Model
  • 9.3 Estimating Dividends in the Dividend-Discount Model
  • COMMON MISTAKE: The First Dividend
  • 9.4 Limitations of the Dividend-Discount Model
  • 9.5 Share Repurchases and the Total Payout Model
  • 9.6 The Discounted Free Cash Flow Model
  • 9.7 Valuation Based on Comparable Firms
  • PRACTITIONER INTERVIEW WITH Marilyn Fedak, Vice Chair, Investment Services
  • 9.8 Information, Competition, and Stock Prices
  • 9.9 Individual Biases and Trading
  • MyFinanceLab: Summary
  • Critical Thinking
  • Problems
  • Data Case
  • Part 3 Integrative Case
  • PART 4 Risk and Return
  • 10 Risk and Return in Capital Markets
  • INTERVIEW WITH Manmeet Bhatia, OceanRock Investments
  • 10.1 A First Look at Risk and Return
  • 10.2 Historical Risks and Returns of Stocks
  • Arithmetic Average Returns Versus Compound Annual Returns
  • COMMON MISTAKE: Mistakes When Computing Standard Deviation
  • 10.3 The Historical Tradeoff Between Risk and Return
  • 10.4 Common Versus Independent Risk
  • 10.5 Diversification in Stock Portfolios
  • COMMON MISTAKE: A Fallacy of Long-Run Diversification
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • 11 Systematic Risk and the Equity Risk Premium
  • INTERVIEW WITH Alexander Morgan, Pantheon Ventures
  • 11.1 The Expected Return of a Portfolio
  • 11.2 The Volatility of a Portfolio
  • NOBEL PRIZE: Harry Markowitz
  • 11.3 Measuring Systematic Risk
  • Index Funds
  • COMMON MISTAKE: Mixing Standard Deviation and Beta
  • 11.4 Putting It All Together: The Capital Asset Pricing Model
  • Why Not Estimate Expected Returns Directly?
  • NOBEL PRIZE: William Sharpe
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Chapter 11 Appendix: Alternative Models of Systematic Risk
  • 12 Determining the Cost of Capital
  • INTERVIEW WITH Elizabeth Anton, RBC
  • 12.1 A First Look at the Weighted Average Cost of Capital
  • 12.2 The Firm’s Costs of Debt and Equity Capital
  • COMMON MISTAKE: Using the Coupon Rate as the Cost of Debt
  • 12.3 A Second Look at the Weighted Average Cost of Capital
  • 12.4 Using the WACC to Value a Project
  • 12.5 Project-Based Costs of Capital
  • 12.6 When Raising External Capital Is Costly
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Data Case
  • Part 4 Integrative Case
  • PART 5 Long-Term Financing
  • 13 Raising Equity Capital
  • INTERVIEW WITH Zeke Purves-Smith, McMillan LLP
  • 13.1 Equity Financing for Private Companies
  • 13.2 Taking Your Firm Public: The Initial Public Offering
  • Google’s IPO
  • 13.3 IPO Puzzles
  • 2008–09: A Very Cold IPO Market
  • 13.4 Raising Additional Capital: The Seasoned Equity Offering
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • 14 Debt Financing
  • INTERVIEW WITH Damian Creber, RBC Capital Markets
  • 14.1 Corporate Debt
  • Debt Financing at Hertz: Bank Loans
  • Debt Financing at Hertz: Private Placements
  • Debt Financing at Hertz: Public Debt
  • 14.2 Bond Covenants
  • 14.3 Repayment Provisions
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Chapter 14 Appendix: Using a Financial Calculator to Calculate Yield to Call
  • Part 5 Integrative Case
  • PART 6 Capital Structure and Payout Policy
  • 15 Capital Structure
  • INTERVIEW WITH Eric Hassberger, Strategic Hotels & Resorts
  • 15.1 Capital Structure Choices
  • 15.2 Capital Structure in Perfect Capital Markets
  • COMMON MISTAKE: Capital Structure Fallacies
  • NOBEL PRIZE: Franco Modigliani and Merton Miller
  • 15.3 Debt and Taxes
  • 15.4 The Costs of Bankruptcy and Financial Distress
  • Bankruptcy Can Be Expensive
  • 15.5 Optimal Capital Structure: The Tradeoff Theory
  • 15.6 Additional Consequences of Leverage: Agency Costs and Information
  • Airlines Use Financial Distress to Their Advantage
  • Financial Distress and Rolling the Dice, Literally
  • 15.7 Capital Structure: Putting It All Together
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Chapter 15 Appendix: The Bankruptcy Code
  • 16 Payout Policy
  • INTERVIEW WITH Paul Asmundson, TD Securities Inc.
  • 16.1 Distributions to Shareholders
  • 16.2 Dividends Versus Share Repurchases in a Perfect Capital Market
  • COMMON MISTAKE: Repurchases and the Supply of Shares
  • COMMON MISTAKE: The Bird in the Hand Fallacy
  • 16.3 The Tax Disadvantage of Dividends
  • 16.4 Payout Versus Retention of Cash
  • 16.5 Signalling with Payout Policy
  • Royal & SunAlliance’s Dividend Cut
  • PRACTITIONER INTERVIEW WITH John Connors, Microsoft
  • 16.6 Stock Dividends, Splits, and Spinoffs
  • Berkshire Hathaway’s A and B Shares
  • 16.7 Advice for the Financial Manager
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Data Case
  • Part 6 Integrative Case
  • PART 7 Financial Planning and Forecasting
  • 17 Financial Modelling and Pro Forma Analysis
  • INTERVIEW WITH Dennis NG, PhD Student, University of Manitoba
  • 17.1 Goals of Long-Term Financial Planning
  • 17.2 Forecasting Financial Statements: The Percent of Sales Method
  • COMMON MISTAKE: Confusing Stockholders’ Equity with Retained Earnings
  • 17.3 Forecasting a Planned Expansion
  • 17.4 Growth and Firm Value
  • 17.5 Valuing the Planned Expansion
  • COMMON MISTAKE: Confusing Total and Incremental Net Working Capital
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Chapter 17 Appendix: The Balance Sheet and Statement of Cash Flows
  • 18 Working Capital Management
  • INTERVIEW WITH Jessica Rempel, Commercial Banking
  • 18.1 Overview of Working Capital
  • 18.2 Trade Credit
  • COMMON MISTAKE: Using APR Instead of EAR to Compute the Cost of Trade Credit
  • 18.3 Receivables Management
  • The 5 C’s of Credit
  • 18.4 Payables Management
  • 18.5 Inventory Management
  • Inventory Management Adds to the Bottom Line at Gap
  • 18.6 Cash Management
  • Cash Balances
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Data Case
  • 19 Short-Term Financial Planning
  • INTERVIEW WITH Elysse Dalla-Longa, GE Capital
  • 19.1 Forecasting Short-Term Financing Needs
  • 19.2 The Matching Principle
  • 19.3 Short-Term Financing with Bank Loans
  • 19.4 Short-Term Financing with Commercial Paper
  • 19.5 Short-Term Financing with Secured Financing
  • A 17th-Century Financing Solution
  • 19.6 Putting It All Together: Creating a Short-Term Financial Plan
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Part 7 Integrative Case
  • PART 8 Special Topics
  • 20 Option Applications and Corporate Finance
  • INTERVIEW WITH John Lundy, Clariter Poland sp. z o.o.
  • 20.1 Option Basics
  • Options Are for More Than Just Stocks
  • 20.2 Option Payoffs and Profits at Expiration
  • 20.3 Factors Affecting Option Prices
  • 20.4 The Black-Scholes Option Pricing Formula
  • 20.5 Put-Call Parity
  • 20.6 Options and Corporate Finance
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Data Case
  • 21 Risk Management
  • INTERVIEW WITH Ashlea Ochsner, Scotiabank
  • 21.1 Insurance
  • 21.2 Commodity Price Risk
  • Hedging Strategy Leads to Promotion . . . Sometimes
  • COMMON MISTAKE: Mistakes When Hedging Risk
  • Differing Hedging Strategies at U.S. Airlines
  • 21.3 Interest Rate Risk
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • 22 International Corporate Finance
  • INTERVIEW WITH Dave Vogt, Albert’s Controls
  • 22.1 Currency Exchange Rates
  • 22.2 Exchange Rate Risk
  • 22.3 Internationally Integrated Capital Markets
  • 22.4 Valuation of Foreign Currency Cash Flows
  • 22.5 Valuation and International Taxation
  • 22.6 Internationally Segmented Capital Markets
  • 22.7 Capital Budgeting with Exchange Rate Risk
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Data Case
  • 23 Leasing
  • INTERVIEW WITH Rennie Zegalski, CB Richard Ellis Manitoba
  • 23.1 The Basics of Leasing
  • Calculating Auto Lease Payments
  • 23.2 Accounting, Tax, and Legal Consequences of Leasing
  • Synthetic Leases
  • 23.3 The Leasing Decision
  • 23.4 Reasons for Leasing
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • 24 Mergers and Acquisitions
  • INTERVIEW WITH George Yao, Morgan Stanley
  • 24.1 Background and Historical Trends
  • 24.2 Market Reaction to a Takeover
  • 24.3 Reasons to Acquire
  • 24.4 The Takeover Process
  • 24.5 Takeover Defences
  • Weyerhaeuser’s Hostile Bid for Willamette Industries
  • 24.6 Who Gets the Value Added from a Takeover?
  • The Leveraged Buyout of RJR Nabisco by KKR
  • PRACTITIONER INTERVIEW WITH Dan MacDonald, CEO of InNOVAcorp.
  • MyFinanceLab: Summary
  • Review Questions
  • Problems
  • Index

 

 

Related products