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Corporate Finance and Investment: Decisions and Strategies: Decisions and Strategies, 9th edition

Published by Pearson (June 15, 2018) © 2018

  • Richard Pike Bradford Management Centre, Bradford University
  • Bill Neale School of Finance and Law, Bournemouth University
  • Saeed Akbar University of Hull
  • Philip Linsley University of York

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Support your students' understanding of the principles of Corporate Finance and help them develop the practical tools necessary with this leading text.

Corporate Finance and Investment: Decisions and Strategies, 9th Edition studies the discipline from an international perspective, aiming to support your journey as you introduce your students to the fundamental principles of Corporate Finance from theory to practice.

Thoroughly updated and focusing on topical issues, this must-read text uses the latest financial and accounting data, articles, and research papers, to help your students develop the career tools they need to tackle Finance cases in a real business environment.

Hallmark features of this title

Help students apply key concepts to a broad range of contemporary management and business policy issues.

  • Mini case studies: Allow your students to explore the practical applications of financial theory to well-known companies.
  • An international perspective: Access contemporary content that reflects recent developments from an international perspective.

Encourage students to examine financial issues from a managerial perspective.

  • A strategic focus: Challenge your students' thinking with a text that relates and integrates financial management with managerial decision-making and corporate planning.
  • Clear and accessible style: Engage students with a descriptive textbook, offering worked examples and illustrations to support their understanding of the concepts.

Structural Changes in the text aim to give a better overview of the principles surrounding the discipline.

  • Extended discussion and additional content on topics related to risk management, capital structure, risk and return, asset pricing, and Behavioural Finance ensure the content material is up to date for your students' research and study.
  • Considerable changes in different parts and chapters of the text include updates in financial and accounting data, removal of tired text, and inclusion of fresh discussion topics.
  • Updated Financial Times articles, as well as other media, reflect contemporary issues.
  • New research findings published in recent papers discuss relevant issues in each chapter.
  • New real-world, contemporary examples and empirical evidence debate relevant recent changes in financial theory and practice.

Introducing new co-author, Saced Akbar

This latest edition introduces the third author of this text, Saced Akbar, a Professor in Accounting and Finance at the University of Hull. With extensive experience teaching Accounting and Finance modules, Professor Akbar brings years of research to this edition. His main research areas include the relationship between accounting information and stock prices, corporate governance and risk, Empirical Finance, performance measurement, and accounting regulation.

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List of figures and tables

Preface

Authors' acknowledgements

Publisher's acknowledgements

Part I A framework for financial decisions

  1. An overview of financial management
  2. The financial environment
  3. Present values, and bond and share valuation

Part II Investment decisions and strategies

  1. Investment appraisal methods
  2. Project appraisal – applications
  3. Investment strategy and process

Part III Value, risk and the required return

  1. Analysing investment risk
  2. Relationships between investments: portfolio theory
  3. Setting the risk premium: the Capital Asset Pricing Model (CAPM)
  4. The required rate of return on investment
  5. Enterprise value and equity value
  6. Identifying and valuing options

Part IV Short-term financing and policies

  1. Risk and treasury management
  2. Working capital and short-term asset management
  3. Short- and medium-term finance

Part V Strategic financial decisions

  1. Long-term finance
  2. Returning value to shareholders: the dividend decision
  3. Capital structure and the required return
  4. Does capital structure really matter?
  5. Acquisitions and re-structuring

Part VI International financial management

  1. Managing currency risk
  2. Foreign investment decisions
  3. Key issues in modern finance: a review

Appendix A Solutions to self-assessment activities

Appendix B Solutions to selected questions

Appendix C Present value interest factor (PVIF)

Appendix D Present value interest factor for an annuity (PVIFA)

Glossary

References

Index

Richard Pike is Emeritus Professor of Finance at the School of Management, University of Bradford.

Bill Neale has lectured and researched at several UK Universities and is now freelancing.

Saeed Akbar is a Professor in Accounting and Finance at the Hull University Business School, University of Hull.

Philip Linsley is a Professor in Accounting and Finance at the University of York.

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