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In This Site Appendices Career Corner Corporate Finance Online Finance Around The World Interactive FinSims PowerPoint Presentations S&P Market Insight Self Study Software Student Video Clips Using a Financial Calculator Chapter 1 Introduction to Corporate Finance Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 2 Financial Statements, Taxes, and Cash Flow Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 3 Working with Financial Statements Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 4 Long-Term Financial Planning and Growth Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 5 Introduction to Valuation: The Time Value of Money Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 6 Discounted Cash Flow Valuation Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 7 Interest Rates and Bond Valuation Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 8 Stock Valuation Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 9 Net Present Value and Other Investment Criteria Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 10 Making Capital Investment Decisions Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 11 Project Analysis and Evaluation Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 12 Some Lessons from Capital Market History Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 13 Return, Risk, and the Security Market Line Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 14 Options and Corporate Finance Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 15 Cost of Capital Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 16 Raising Capital Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 17 Financial Leverage and Capital Structure Policy Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 18 Dividends and Dividend Policy Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 19 Short-Term Finance and Planning Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 20 Cash and Liquidity Management Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 21 Credit and Inventory Management Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 22 International Corporate Finance Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 23 Risk Management: An Introduction to Financial Engineering Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 24 Option Valuation Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 25 Mergers and Acquisitions Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 26 Leasing Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? eBook Chapter 1 Introduction to Corporate Finance Opening Vignette chbody 1.1 Corporate Finance and the Financial Manager 1.2 Forms of Business Organization 1.3 The Goal of Financial Management 1.4 The Agency Problem and Control of the Corporation 1.5 Financial Markets and the Corporation chend 1.6 Summary and Conclusions Chapter 2 Financial Statements, Taxes, and Cash Flow Opening Vignette chbody 2.1 The Balance Sheet 2.2 The Income Statement 2.3 Taxes 2.4 Cash Flow chend 2.5 Summary and Conclusions Mini-Case Chapter 3 Working with Financial Statements Opening Vignette chbody 3.1 Cash Flow and Financial Statements: A Closer Look 3.2 Standardized Financial Statements 3.3 Ratio Analysis 3.4 The Du Pont Identity 3.5 Using Financial Statement Information chend 3.6 Summary and Conclusions Chapter 4 Long-Term Financial Planning and Growth Opening Vignette chbody 4.1 What is Financial Planning? 4.2 Financial Planning Models: A First Look 4.3 The Percentage of Sales Approach 4.4 External Financing and Growth 4.5 Some Caveats Regarding Financial Planning Models chend 4.6 Summary and Conclusions Mini-Case Chapter 5 Introduction to Valuation: The Time Value of Money Opening Vignette chbody 5.1 Future Value and Compounding 5.2 Present Value and Discounting 5.3 More on Present and Future Values chend 5.4 Summary and Conclusions Chapter 6 Discounted Cash Flow Valuation Opening Vignette chbody 6.1 Future and Present Values of Multiple Cash Flows 6.2 Valuing Level Cash Flows: Annuities and Perpetuities 6.3 Comparing Rates: The Effect of Compounding 6.4 Loan Types and Loan Amortization chend 6.5 Summary and Conclusions Chapter 7 Interest Rates and Bond Valuation Opening Vignette chbody 7.1 Bonds and Bond Valuation 7.2 More on Bond Features 7.3 Bond Ratings 7.4 Some Different Types of Bonds 7.5 Bond Markets 7.6 Inflation and Interest Rates 7.7 Determinants of Bond Yields chend 7.8 Summary and Conclusions Chapter 8 Stock Valuation Opening Vignette chbody 8.1 Common Stock Valuation 8.2 Some Features of Common and Preferred Stocks 8.3 The Stock Markets chend 8.4 Summary and Conclusions Mini-Case Chapter 9 Net Present Value and Other Investment Criteria Opening Vignette chbody 9.1 Net Present Value 9.2 The Payback Rule 9.3 The Discounted Payback 9.4 The Average Accounting Return 9.5 The Internal Rate of Return 9.6 The Profitability Index 9.7 The Practice of Capital Budgeting chend 9.8 Summary and Conclusions Chapter 10 Making Capital Investment Decisions Opening Vignette chbody 10.1 Project Cash Flows: A First Look 10.2 Incremental Cash Flows 10.3 Pro Forma Financial Statements and Project Cash Flows 10.4 More on Project Cash Flow 10.5 Alternative Definitions of Operating Cash Flow 10.6 Some Special Cases of Discounted Cash Flow Analysis chend 10.7 Summary and Conclusions Chapter 11 Project Analysis and Evaluation Opening Vignette chbody 11.1 Evaluating NPV Estimates 11.2 Scenario and Other What-If Analyses 11.3 Break-Even Analysis 11.4 Operating Cash Flow, Sales Volume, and Break-Even 11.5 Operating Leverage 11.6 Capital Rationing chend 11.7 Summary and Conclusions Mini-Case Chapter 12 Some Lessons from Capital Market History Opening Vignette chbody 12.1 Returns 12.2 The Historical Record 12.3 Average Returns: The First Lesson 12.4 The Variability of Returns: The Second Lesson 12.5 More on Average Returns 12.6 Capital Market Efficiency chend 12.7 Summary and Conclusions Chapter 13 Return, Risk, and the Security Market Line Opening Vignette chbody 13.1 Expected Returns and Variances 13.2 Portfolios 13.3 Announcements, Surprises, and Expected Returns 13.4 Risk: Systematic and Unsystematic 13.5 Diversification and Portfolio Risk 13.6 Systematic Risk and Beta 13.7 The Security Market Line 13.8 The SML and the Cost of Capital: A Preview chend 13.9 Summary and Conclusions Chapter 14 Options and Corporate Finance Opening Vignette chbody 14.1 Options: The Basics 14.2 Fundamentals of Option Valuation 14.3 Valuing a Call Option 14.4 Employee Stock Options 14.5 Equity as a Call Option on the Firm's Assets 14.6 Options and Capital Budgeting 14.7 Options and Corporate Securities chend 14.8 Summary and Conclusions Mini-Case Chapter 15 Cost of Capital Opening Vignette chbody 15.1 The Cost of Capital: Some Preliminaries 15.2 The Cost of Equity 15.3 The Costs of Debt and Preferred Stock 15.4 The Weighted Average Cost of Capital 15.5 Divisional and Project Costs of Capital 15.6 Flotation Costs and the Weighted Average Cost of Capital chend 15.7 Summary and Conclusions Chapter 16 Raising Capital Opening Vignette chbody 16.10 Issuing Long-Term Debt 16.11 Shelf Registration 16.1 The Financing Life Cycle of a Firm: Early-Stage Financing and Venture Capital 16.2 Selling Securities to the Public: The Basic Procedure 16.3 Alternative Issue Methods 16.4 Underwriters 16.5 IPOs and Underpricing 16.6 New Equity Sales and the Value of the Firm 16.7 The Costs of Issuing Securities 16.8 Rights 16.9 Dilution chend 16.12 Summary and Conclusions Chapter 17 Financial Leverage and Capital Structure Policy Opening Vignette chbody 17.1 The Capital Structure Question 17.2 The Effect of Financial Leverage 17.3 Capital Structure and the Cost of Equity Capital 17.4 M&M Propositions I and II with Corporate Taxes 17.5 Bankruptcy Costs 17.6 Optimal Capital Structure 17.7 The Pie Again 17.8 Observed Capital Structures 17.9 A Quick Look at the Bankruptcy Process chend 17.10 Summary and Conclusions Chapter 18 Dividends and Dividend Policy Opening Vignette chbody 18.1 Cash Dividends and Dividend Payment 18.2 Does Dividend Policy Matter? 18.3 Real-World Factors Favoring A Low Payout 18.4 Real-World Factors Favoring A High Payout 18.5 A Resolution of Real-World Factors? 18.6 Establishing a Dividend Policy 18.7 Stock Repurchase: An Alternative to Cash Dividends 18.8 Stock Dividends and Stock Splits chend 18.9 Summary and Conclusions Mini-Case Chapter 19 Short-Term Finance and Planning Opening Vignette chbody 19.1 Tracing Cash and Net Working Capital 19.2 The Operating Cycle and the Cash Cycle 19.3 Some Aspects of Short-Term Financial Policy 19.4 The Cash Budget 19.5 Short-Term Borrowing 19.6 A Short-Term Financial Plan chend 19.7 Summary and Conclusions Chapter 20 Cash and Liquidity Management Opening Vignette chbody 20.1 Reasons for Holding Cash 20.2 Understanding Float 20.3 Cash Collection and Concentration 20.4 Managing Cash Disbursements 20.5 Investing Idle Cash chend 20.6 Summary and Conclusions 20 A Determining the Target Cash Balance Chapter 21 Credit and Inventory Management Opening Vignette chbody 21.1 Credit and Receivables 21.2 Terms of the Sale 21.3 Analyzing Credit Policy 21.4 Optimal Credit Policy 21.5 Credit Analysis 21.6 Collection Policy 21.7 Inventory Management 21.8 Inventory Management Techniques chend 21.9 Summary and Conclusions 21A More on Credit Policy Analysis Mini-Case Chapter 22 International Corporate Finance Opening Vignette chbody 22.1 Terminology 22.2 Foreign Exchange Markets and Exchange Rates 22.3 Purchasing Power Parity 22.4 Interest Rate Parity, Unbiased Forward Rates, and the International Fisher Effect 22.5 International Capital Budgeting 22.6 Exchange Rate Risk 22.7 Political Risk chend 22.8 Summary and Conclusions Chapter 23 Risk Management: An Introduction to Financial Engineering Opening Vignette chbody 23.1 Hedging and Price Volatility 23.2 Managing Financial Risk 23.3 Hedging With Forward Contracts 23.4 Hedging with Futures Contracts 23.5 Hedging with Swap Contracts 23.6 Hedging with Option Contracts chend 23.7 Summary and Conclusions Chapter 24 Option Valuation Opening Vignette chbody 24.1 Put-Call Parity 24.2 The Black-Scholes Option Pricing Model 24.3 More on Black-Scholes 24.4 Valuation of Equity and Debt in a Leveraged Firm 24.5 Options And Corporate Decisions: Some Applications chend 24.6 Summary and Conclusions Chapter 25 Mergers and Acquisitions Opening Vignette chbody 25.1 The Legal Forms of Acquisitions 25.2 Taxes and Acquisitions 25.3 Accounting for Acquisitions 25.4 Gains from Acquisition 25.5 Some Financial Side Effects of Acquisitions 25.6 The Cost of an Acquisition 25.7 Defensive Tactics 25.8 Some Evidence on Acquisitions: Does M&A Pay? 25.9 Divestitures and Restructurings chend 25.10 Summary and Conclusions Chapter 26 Leasing Opening Vignette chbody 26.1 Leases and Lease Types 26.2 Accounting and Leasing 26.3 Taxes, the IRS, and Leases 26.4 The Cash Flows from Leasing 26.5 Lease or Buy? 26.6 A Leasing Paradox 26.7 Reasons for Leasing chend 26.8 Summary and Conclusions

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In This Site Appendices Career Corner Corporate Finance Online CPS by eInstruction End of Chapter Solutions Finance Around The World Fingame Online Projects Guide to Interactive FinSims Instructor's Manual Instructor PowerPoint Presentations Interactive FinSims MH Homework Manager PageOut PowerPoint Presentations S&P Market Insight Self Study Software Solutions in Excel Student Video Clips Teaching Notes Using a Financial Calculator Video Clips Video Projects/Questions Chapter 1 Introduction to Corporate Finance Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 2 Financial Statements, Taxes, and Cash Flow Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 3 Working with Financial Statements Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 4 Long-Term Financial Planning and Growth Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 5 Introduction to Valuation: The Time Value of Money Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 6 Discounted Cash Flow Valuation Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 7 Interest Rates and Bond Valuation Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 8 Stock Valuation Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 9 Net Present Value and Other Investment Criteria Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 10 Making Capital Investment Decisions Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 11 Project Analysis and Evaluation Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 12 Some Lessons from Capital Market History Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 13 Return, Risk, and the Security Market Line Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 14 Options and Corporate Finance Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 15 Cost of Capital Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 16 Raising Capital Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 17 Financial Leverage and Capital Structure Policy Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 18 Dividends and Dividend Policy Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 19 Short-Term Finance and Planning Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 20 Cash and Liquidity Management Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 21 Credit and Inventory Management Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 22 International Corporate Finance Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 23 Risk Management: An Introduction to Financial Engineering Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 24 Option Valuation Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 25 Mergers and Acquisitions Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? Chapter 26 Leasing Excel Template Problems Flashcards Glossary PowerWeb Articles S&P Problems Self Test Quiz Student Narrated PowerPoint (Flash) Weekly Update Archive What's On the Web? eBook Chapter 1 Introduction to Corporate Finance Opening Vignette chbody 1.1 Corporate Finance and the Financial Manager 1.2 Forms of Business Organization 1.3 The Goal of Financial Management 1.4 The Agency Problem and Control of the Corporation 1.5 Financial Markets and the Corporation chend 1.6 Summary and Conclusions Chapter 2 Financial Statements, Taxes, and Cash Flow Opening Vignette chbody 2.1 The Balance Sheet 2.2 The Income Statement 2.3 Taxes 2.4 Cash Flow chend 2.5 Summary and Conclusions Mini-Case Chapter 3 Working with Financial Statements Opening Vignette chbody 3.1 Cash Flow and Financial Statements: A Closer Look 3.2 Standardized Financial Statements 3.3 Ratio Analysis 3.4 The Du Pont Identity 3.5 Using Financial Statement Information chend 3.6 Summary and Conclusions Chapter 4 Long-Term Financial Planning and Growth Opening Vignette chbody 4.1 What is Financial Planning? 4.2 Financial Planning Models: A First Look 4.3 The Percentage of Sales Approach 4.4 External Financing and Growth 4.5 Some Caveats Regarding Financial Planning Models chend 4.6 Summary and Conclusions Mini-Case Chapter 5 Introduction to Valuation: The Time Value of Money Opening Vignette chbody 5.1 Future Value and Compounding 5.2 Present Value and Discounting 5.3 More on Present and Future Values chend 5.4 Summary and Conclusions Chapter 6 Discounted Cash Flow Valuation Opening Vignette chbody 6.1 Future and Present Values of Multiple Cash Flows 6.2 Valuing Level Cash Flows: Annuities and Perpetuities 6.3 Comparing Rates: The Effect of Compounding 6.4 Loan Types and Loan Amortization chend 6.5 Summary and Conclusions Chapter 7 Interest Rates and Bond Valuation Opening Vignette chbody 7.1 Bonds and Bond Valuation 7.2 More on Bond Features 7.3 Bond Ratings 7.4 Some Different Types of Bonds 7.5 Bond Markets 7.6 Inflation and Interest Rates 7.7 Determinants of Bond Yields chend 7.8 Summary and Conclusions Chapter 8 Stock Valuation Opening Vignette chbody 8.1 Common Stock Valuation 8.2 Some Features of Common and Preferred Stocks 8.3 The Stock Markets chend 8.4 Summary and Conclusions Mini-Case Chapter 9 Net Present Value and Other Investment Criteria Opening Vignette chbody 9.1 Net Present Value 9.2 The Payback Rule 9.3 The Discounted Payback 9.4 The Average Accounting Return 9.5 The Internal Rate of Return 9.6 The Profitability Index 9.7 The Practice of Capital Budgeting chend 9.8 Summary and Conclusions Chapter 10 Making Capital Investment Decisions Opening Vignette chbody 10.1 Project Cash Flows: A First Look 10.2 Incremental Cash Flows 10.3 Pro Forma Financial Statements and Project Cash Flows 10.4 More on Project Cash Flow 10.5 Alternative Definitions of Operating Cash Flow 10.6 Some Special Cases of Discounted Cash Flow Analysis chend 10.7 Summary and Conclusions Chapter 11 Project Analysis and Evaluation Opening Vignette chbody 11.1 Evaluating NPV Estimates 11.2 Scenario and Other What-If Analyses 11.3 Break-Even Analysis 11.4 Operating Cash Flow, Sales Volume, and Break-Even 11.5 Operating Leverage 11.6 Capital Rationing chend 11.7 Summary and Conclusions Mini-Case Chapter 12 Some Lessons from Capital Market History Opening Vignette chbody 12.1 Returns 12.2 The Historical Record 12.3 Average Returns: The First Lesson 12.4 The Variability of Returns: The Second Lesson 12.5 More on Average Returns 12.6 Capital Market Efficiency chend 12.7 Summary and Conclusions Chapter 13 Return, Risk, and the Security Market Line Opening Vignette chbody 13.1 Expected Returns and Variances 13.2 Portfolios 13.3 Announcements, Surprises, and Expected Returns 13.4 Risk: Systematic and Unsystematic 13.5 Diversification and Portfolio Risk 13.6 Systematic Risk and Beta 13.7 The Security Market Line 13.8 The SML and the Cost of Capital: A Preview chend 13.9 Summary and Conclusions Chapter 14 Options and Corporate Finance Opening Vignette chbody 14.1 Options: The Basics 14.2 Fundamentals of Option Valuation 14.3 Valuing a Call Option 14.4 Employee Stock Options 14.5 Equity as a Call Option on the Firm's Assets 14.6 Options and Capital Budgeting 14.7 Options and Corporate Securities chend 14.8 Summary and Conclusions Mini-Case Chapter 15 Cost of Capital Opening Vignette chbody 15.1 The Cost of Capital: Some Preliminaries 15.2 The Cost of Equity 15.3 The Costs of Debt and Preferred Stock 15.4 The Weighted Average Cost of Capital 15.5 Divisional and Project Costs of Capital 15.6 Flotation Costs and the Weighted Average Cost of Capital chend 15.7 Summary and Conclusions Chapter 16 Raising Capital Opening Vignette chbody 16.10 Issuing Long-Term Debt 16.11 Shelf Registration 16.1 The Financing Life Cycle of a Firm: Early-Stage Financing and Venture Capital 16.2 Selling Securities to the Public: The Basic Procedure 16.3 Alternative Issue Methods 16.4 Underwriters 16.5 IPOs and Underpricing 16.6 New Equity Sales and the Value of the Firm 16.7 The Costs of Issuing Securities 16.8 Rights 16.9 Dilution chend 16.12 Summary and Conclusions Chapter 17 Financial Leverage and Capital Structure Policy Opening Vignette chbody 17.1 The Capital Structure Question 17.2 The Effect of Financial Leverage 17.3 Capital Structure and the Cost of Equity Capital 17.4 M&M Propositions I and II with Corporate Taxes 17.5 Bankruptcy Costs 17.6 Optimal Capital Structure 17.7 The Pie Again 17.8 Observed Capital Structures 17.9 A Quick Look at the Bankruptcy Process chend 17.10 Summary and Conclusions Chapter 18 Dividends and Dividend Policy Opening Vignette chbody 18.1 Cash Dividends and Dividend Payment 18.2 Does Dividend Policy Matter? 18.3 Real-World Factors Favoring A Low Payout 18.4 Real-World Factors Favoring A High Payout 18.5 A Resolution of Real-World Factors? 18.6 Establishing a Dividend Policy 18.7 Stock Repurchase: An Alternative to Cash Dividends 18.8 Stock Dividends and Stock Splits chend 18.9 Summary and Conclusions Mini-Case Chapter 19 Short-Term Finance and Planning Opening Vignette chbody 19.1 Tracing Cash and Net Working Capital 19.2 The Operating Cycle and the Cash Cycle 19.3 Some Aspects of Short-Term Financial Policy 19.4 The Cash Budget 19.5 Short-Term Borrowing 19.6 A Short-Term Financial Plan chend 19.7 Summary and Conclusions Chapter 20 Cash and Liquidity Management Opening Vignette chbody 20.1 Reasons for Holding Cash 20.2 Understanding Float 20.3 Cash Collection and Concentration 20.4 Managing Cash Disbursements 20.5 Investing Idle Cash chend 20.6 Summary and Conclusions 20 A Determining the Target Cash Balance Chapter 21 Credit and Inventory Management Opening Vignette chbody 21.1 Credit and Receivables 21.2 Terms of the Sale 21.3 Analyzing Credit Policy 21.4 Optimal Credit Policy 21.5 Credit Analysis 21.6 Collection Policy 21.7 Inventory Management 21.8 Inventory Management Techniques chend 21.9 Summary and Conclusions 21A More on Credit Policy Analysis Mini-Case Chapter 22 International Corporate Finance Opening Vignette chbody 22.1 Terminology 22.2 Foreign Exchange Markets and Exchange Rates 22.3 Purchasing Power Parity 22.4 Interest Rate Parity, Unbiased Forward Rates, and the International Fisher Effect 22.5 International Capital Budgeting 22.6 Exchange Rate Risk 22.7 Political Risk chend 22.8 Summary and Conclusions Chapter 23 Risk Management: An Introduction to Financial Engineering Opening Vignette chbody 23.1 Hedging and Price Volatility 23.2 Managing Financial Risk 23.3 Hedging With Forward Contracts 23.4 Hedging with Futures Contracts 23.5 Hedging with Swap Contracts 23.6 Hedging with Option Contracts chend 23.7 Summary and Conclusions Chapter 24 Option Valuation Opening Vignette chbody 24.1 Put-Call Parity 24.2 The Black-Scholes Option Pricing Model 24.3 More on Black-Scholes 24.4 Valuation of Equity and Debt in a Leveraged Firm 24.5 Options And Corporate Decisions: Some Applications chend 24.6 Summary and Conclusions Chapter 25 Mergers and Acquisitions Opening Vignette chbody 25.1 The Legal Forms of Acquisitions 25.2 Taxes and Acquisitions 25.3 Accounting for Acquisitions 25.4 Gains from Acquisition 25.5 Some Financial Side Effects of Acquisitions 25.6 The Cost of an Acquisition 25.7 Defensive Tactics 25.8 Some Evidence on Acquisitions: Does M&A Pay? 25.9 Divestitures and Restructurings chend 25.10 Summary and Conclusions Chapter 26 Leasing Opening Vignette chbody 26.1 Leases and Lease Types 26.2 Accounting and Leasing 26.3 Taxes, the IRS, and Leases 26.4 The Cash Flows from Leasing 26.5 Lease or Buy? 26.6 A Leasing Paradox 26.7 Reasons for Leasing chend 26.8 Summary and Conclusions

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Chapter 1 Introduction to Corporate Finance Self Test Quiz Chapter 2 Financial Statements, Taxes, and Cash Flow Self Test Quiz Chapter 3 Working with Financial Statements Self Test Quiz Chapter 4 Long-Term Financial Planning and Growth Self Test Quiz Chapter 5 Introduction to Valuation: The Time Value of Money Self Test Quiz Chapter 6 Discounted Cash Flow Valuation Self Test Quiz Chapter 7 Interest Rates and Bond Valuation Self Test Quiz Chapter 8 Stock Valuation Self Test Quiz Chapter 9 Net Present Value and Other Investment Criteria Self Test Quiz Chapter 10 Making Capital Investment Decisions Self Test Quiz Chapter 11 Project Analysis and Evaluation Self Test Quiz Chapter 12 Some Lessons from Capital Market History Self Test Quiz Chapter 13 Return, Risk, and the Security Market Line Self Test Quiz Chapter 14 Options and Corporate Finance Self Test Quiz Chapter 15 Cost of Capital Self Test Quiz Chapter 16 Raising Capital Self Test Quiz Chapter 17 Financial Leverage and Capital Structure Policy Self Test Quiz Chapter 18 Dividends and Dividend Policy Self Test Quiz Chapter 19 Short-Term Finance and Planning Self Test Quiz Chapter 20 Cash and Liquidity Management Self Test Quiz Chapter 21 Credit and Inventory Management Self Test Quiz Chapter 22 International Corporate Finance Self Test Quiz Chapter 23 Risk Management: An Introduction to Financial Engineering Self Test Quiz Chapter 24 Option Valuation Self Test Quiz Chapter 25 Mergers and Acquisitions Self Test Quiz Chapter 26 Leasing Self Test Quiz

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Course-wide Content Appendices Career Corner Corporate Finance Online Finance Around The World Interactive FinSims PowerPoint Presentations S&P Market Insight Self Study Software Student Video Clips Using a Financial Calculator Chapter 1 Introduction to Corporate Finance Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 2 Financial Statements, Taxes, and Cash Flow Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 3 Working with Financial Statements Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 4 Long-Term Financial Planning and Growth Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 5 Introduction to Valuation: The Time Value of Money Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 6 Discounted Cash Flow Valuation Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 7 Interest Rates and Bond Valuation Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 8 Stock Valuation Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 9 Net Present Value and Other Investment Criteria Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 10 Making Capital Investment Decisions Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 11 Project Analysis and Evaluation Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 12 Some Lessons from Capital Market History Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 13 Return, Risk, and the Security Market Line Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 14 Options and Corporate Finance Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 15 Cost of Capital Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 16 Raising Capital Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 17 Financial Leverage and Capital Structure Policy Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 18 Dividends and Dividend Policy Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 19 Short-Term Finance and Planning Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 20 Cash and Liquidity Management Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 21 Credit and Inventory Management Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 22 International Corporate Finance Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 23 Risk Management: An Introduction to Financial Engineering Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 24 Option Valuation Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 25 Mergers and Acquisitions Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web? Chapter 26 Leasing Excel Template Problems Flashcards Glossary S&P Problems Student Narrated PowerPoint (Flash) What's On the Web?

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Course-wide Content CPS by eInstruction End of Chapter Solutions Fingame Online Projects Guide to Interactive FinSims Instructor's Manual Instructor PowerPoint Presentations MH Homework Manager PageOut Solutions in Excel Teaching Notes Video Clips Video Projects/Questions

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