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.
作者：Richard A. Brealey 現職：London Business School
作者：Stewart C. Myers 現職：Sloan School of Management Massachusetts Institute of Technology
作者：Franklin Allen 現職：Imperial College London
PART I: 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 II: 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 III: BEST PRACTICES IN CAPITAL BUDGETING Ch10 Project Analysis Ch11 How to Ensure that Projects Truly Have Positive NPVs Ch12 Agency Problems and Investment
PART IV: FINANCING DECISIONS AND MARKET EFFICIENCY Ch13 Efficient Markets and Behavioral Finance Ch14 An Overview of Corporate Financing Ch15 How Corporations Issue Securities
PART V: PAYOUT POLICY AND CAPITAL STRUCTURE Ch16 Payout Policy Ch17 Does Debt Policy Matter? Ch18 How Much Should a Corporation Borrow? Ch19 Financing and Valuation
PART VI: OPTIONS Ch20 Understanding Options Ch21 Valuing Options Ch22 Real Options
PART VII: DEBT FINANCING Ch23 Credit Risk and the Value of Corporate Debt Ch24 The Many Different Kinds of Debt Ch25 Leasing
PART VIII: RISK MANAGEMENT Ch26 Managing Risk Ch27 Managing International Risks
PART IX: FINANCIAL PLANNING AND WORKING CAPITAL MANAGEMENT Ch28 Financial Analysis Ch29 Financial Planning Ch30 Working Capital Management
PART X: MERGERS, CORPORATE CONTROL, AND GOVERNANCE Ch31 Mergers Ch32 Corporate Restructuring Ch33 Governance and Corporate Control Around the World
PART XI: CONCLUSION Ch34 Conclusion: What We Do and Do Not Know About Finance