Request full copy

Corporate Financial Management, 6th edition

Published by Pearson (February 5, 2019) © 2019

  • Glen Arnold Salford University
  • Deborah Lewis

eTextbook

£43.99

  • Easy-to-use search and navigation
  • Add notes and highlights
  • Search by keyword or page
£67.99

  • A print text (hardcover or paperback)
  • Free shipping

MyLab

from£48.68

  • Reach every student with personalized support
  • Customize courses with ease
  • Optimize learning with dynamic study tools

Support your teaching on the essential principles of Corporate Finance with a complete guide in the field.

Corporate Financial Management, 6th edition is the latest version of this market-leading text that will support your teaching as you guide your students through their learning journey in Corporate Finance.

Accessible and easy to understand, this edition includes a variety of existing and updated features, along with practical applications of essential business concepts.

Designed to support your students' learning of how to make successful financial decisions, this must-have leading text will prepare them for the real financial world.

This edition includes an Instructor Resource Centre.

Hallmark Features of This Title

Clear and accessible structure and language that facilitates your students' learning.

  • The clear learning objectives and introduction at the beginning of each chapter, help you place your teaching into context and set learning expectations for your students.
  • Financial techniques are illustrated in practical terms, using accessible language.
  • Comprehensive lists of references and websites, further reading, glossary and appendices are excellent additional learning resources for your students.

Content that enables individual reflection and group discussion in class.

  • Presentation of finance as a dynamic subject that is open to theoretical re-evaluation.
  • Self-review questions based on the main elements of the topic prompt reflection and are ideal for revision.
  • Worked examples demonstrate new, updated techniques throughout the text, presenting problems for discussion with detailed answers provided.
  • Content thoroughly updated with new Financial Times articles helps your students see the relevance between theory and the real world.
  • New examples and case studies are presented throughout the text, discussing key topics in the world of business.
  • Revised end-of-chapter materials with solutions are presented, reflecting current developments in the field.
  • New skills are fully explained and illustrated in the Mathematical Explanations sections, to facilitate your students' understanding of complex learning materials.
  • New key concepts along with any jargon and equations are now simplified and summarised to facilitate your students' comprehension and learning.

Personalise teaching with MyFinanceLab® and accelerate your students' learning.

  • MyFinanceLab allows you to plan your teaching more effectively by building your own tests, quizzes, and homework assignments tailored to your students' needs.
  • A more personalised approach allows your students to set their own study plan and organise their learning, focusing on the areas they need to improve and making their study more efficient.
  • A series of worked solutions showing how to solve difficult problems offer limitless opportunities for further practice and support, aiming to improve your students' performance.
  • Your students can customise their way of studying either by following a chapter-by-chapter structure or by learning objective.

A comprehensive set of online resources, case studies, and tutorial systems are now available with MyFinanceLab®.

  • Your students can now access an online homework and tutorial system designed to test and build their understanding, with instant feedback and numerous additional resources.
  • Four new case studies are now included in MyFinanceLab, presenting each one with its learning objectives, alongside an FT article, review, and discussion questions.
  • The new section on basic Maths/Numeracy provides an extensive analysis of some of the course's essential concepts and questions for students to answer.

Brief contents

Topics covered in the book xxi

Introduction to the book xxiii

Acknowledgements xxix

Part 1 Introduction 1

  1. The financial world 2

Part 2 The investment decision 49

  1. Project appraisal: net present value and internal rate of return 50
  2. Project appraisal: cash flow and applications 89
  3. The decision-making process for investment appraisal 125
  4. Project appraisal: capital rationing, taxation and inflation 151

Part 3 Risk and return 173

  1. Risk and project appraisal 174
  2. Portfolio theory 222
  3. The Capital Asset Pricing Model and multi-factor models 268

Part 4 Sources of finance 327

  1. Stock markets 328
  2. Raising equity capital 365
  3. Long-term debt finance 422
  4. Short- and medium-term finance, treasury and working capital management 474
  5. Stock market efficiency 542

Part 5 Corporate value 611

  1. Value-based management 612
  2. Value-creation metrics 658
  3. The cost of capital 704
  4. Valuing shares 738
  5. Capital structure 787
  6. Dividend policy 840
  7. Mergers 868

Part 6 Managing risk 927

  1. Derivatives 928
  2. Managing exchange-rate risk 974

Appendices A:1

  1. Future value of £1 at compound interest A:2
  2. Present value of £1 at compound interest A:3
  3. Present value of an annuity of £1 at compound interest A:4
  4. Future value of an annuity of £1 at compound interest A:5
  5. Areas under the standardised normal distribution A:6
  6. Answers to the mathematical tools exercises in Chapter 2, Appendix 2.1 A:7

Glossary G:1

Bibliography B:1

Index I:1

Glen Arnold runs an investment fund and previously held positions as Professor of Finance and Professor of Investing. In addition to the textbook Modern Financial Markets and Institutions, he has authored leading investment and banking books, including The Financial Times Guide to Investment, The FT Guide to Banking, and The FT Guide to Value Investing.

Deborah Lewis is a Senior Teaching Fellow at the University of Bath. As a Director of Studies for the Bath MBA programme, featured in the top 100 of the FT Global MBA 2018 Ranking, she ensures the material is useful both for the student and the practitioner. Deborah's previous commercial experience allows her to blend academic theory with professional application.

Need help? Get in touch

MyLab

Reach every student with MyLab®. This flexible digital platform combines trusted author content, online assessments and customisable features so you can personalise learning and improve results, one student at a time.

Video
Play
Privacy and cookies
By watching, you agree Pearson can share your viewership data for marketing and analytics for one year, revocable by deleting your cookies.

Video transcript (PDF | 25KB) 

Empower your students, in class and beyond

Meet students where they are with MyLab®, and capture their attention in every lecture, activity, and assignment using immersive content, customized tools, and interactive learning experiences in your discipline.