Sheridan Titman, Bomikazi Zeka, Arthur J. Keown and John D. Martin
9th Edition
Australian version
Financial Management reflects the vitality of an ever-expanding discipline, building on the foundations of economics and accounting.
Adapted for the Australian market, students are presented with a cohesive, inter-related subject that they can use when approaching future, as yet unknown, problems. Building on the strengths of the previous edition, this edition sees consolidation and refining of content, creating a modern teaching approach.
Part 1 Introduction to Financial Management
1. Getting started—Principles of finance
2. Firms and the financial market
3. Understanding financial statements, taxes and cash flows
4. Financial analysis—Sizing up firm performance
Part 2 Valuation of Financial Assets
5. The time value of money—The basics
6. The time value of money—Annuities and other topics
7. Risk and return—An introduction—History of financial market returns
8. Risk and return—Capital market theory
9. Share valuation
10. Debt valuation and interest rates
Part 3 Capital Budgeting
11. Investment decision criteria
12. Analysing project cash flows
13. Risk analysis and project evaluation
14. The cost of capital
Part 4 Capital Structure and Dividend Policy
15. Analysis and impact of leverage
16. Capital-structure policy
17. Dividend and share buyback policy
Part 5 Liquidity Management and Special Topics in Finance
18. Financial forecasting and planning
19. Working capital management
20. Corporate risk management
Learning aids supplemental to the text:
Solutions manual
Provides educators with detailed, accuracy-verified solutions to in-chapter and end-of-chapter problems in the book.
Test Bank
Provides a wealth of accuracy-verified testing material. Each chapter offers a wide variety of question types that can be integrated into Blackboard, Canvas or Moodle.
Lecture slides
A comprehensive set of PowerPoint slides. They include key figures and tables, as well as a summary of key concepts and examples from the course content.
Considering student's engagement, the resource is arranged around five key principles to enhance focus on the intuition behind the mechanics of solving financial problems. These principles are woven throughout the resource, forming a rationalised, coherent, integrated and intuitive problem-solving approach.
Checkpoints
Provides a consistent 5 step problem solving technique and an analysis of the solution reached for learners to apply in their own problem solving
Finance Spotlight
Provides connection of theory into practice for the learner taking into account both local and international examples
Tools of financial analysis
By providing calculations or formulas, gives students the tools they need to apply financial calculations or formulas to tasks they need to undertake
Mini-case with questions
By providing a mini case with questions at the end of each chapter, students can assess a current real world scenario and develop their critical thinking and analysis skills
By being digital only, this title offers something unique to the market as it puts digital learning and instructional design at the forefront: by considering learner outcomes and in what way they can best learn that concept with the advantages of digital, there is a balance of text, media and interactivity, whilst maintaining all the rigour to ensure students have the depth and breadth of knowledge. This creates an environment where students can have a more engaging, interactive experience, as well as learn in a way that works best for them.
Content-enriched tables and figures are captioned and labelled in detail to make them useful for reviewing the chapter and to facilitate student learning
Financial spreadsheets and calculators are integrated throughout the text, giving students access to both methods of problem solving
Flashcards, fill-in-the-blanks, multiple-choice quizzes enable students to consolidate learning and be provided with instant feedback and guidance as they work through the material
Sheridan Titman holds the McAllister Centennial Chair in Financial Services at the University of Texas.
He has a B.S. from the University of Colorado and an M.S. and Ph.D. from Carnegie Mellon University. Prior to joining the faculty at the University of Texas, Professor Titman was a Professor at UCLA, the Hong Kong University of Science and Technology, and Boston College and spent the 1988–89 academic year in Washington, D.C., as the special assistant to the Assistant Secretary of the Treasury for Economic Policy. In addition, he has consulted for a variety of financial institutions and corporations.
He has served on the editorial boards of the leading academic finance and real estate journals, was an editor of the Review of Financial Studies, and was the founding editor of the International Review of Finance. He has served as President of the American Finance Association and the Western Finance Association, and as a director of the American Finance Association, the Asia Pacific Finance Association, the Western Finance Association, and the Financial Management Association and as the President of the Western Finance Association.
He has received a number of awards for his research excellence and is a Fellow of the Financial Management Association and a Research Associate of the National Bureau of Economic Research.
Bomikazi Zeka is an Assistant Professor in Finance and Financial Planning at the University of Canberra, with over 12 years experience in higher education. She completed her PhD in retirement planning in 2017 from the Nelson Mandela University and her core body of work focuses on retirement planning research, particularly for women, people of colour, and people experiencing socio-economic vulnerabilities. She is an active researcher that has published in international peer-reviewed journals and frequently reviews journal articles. As an experienced lecturer, her teaching responsibilities have been in the following areas: Business Finance, Investments and Portfolio Analysis, Personal Financial Planning, Purchasing and Logistics Management and Retirement Planning. She has won several teaching awards including the Emerging Excellent Faculty Teacher Award in 2015 and the Dean’s Award for Excellence in Teaching and Learning in 2018. Since 2019, she has been responsible for the BCom Financial Planning at the Univeisity of Canberra and currently serves as a member of the Financial Planning Education Council of Australia.
Arthur J. Keown is the Department Head and R. B. Pamplin Professor of Finance at Virginia Polytechnic Institute and State University. He received his bachelor’s degree from Ohio Wesleyan University, his M.B.A. from the University of Michigan, and his doctorate from Indiana University.
An award-winning teacher, he is a member of the Academy of Teaching Excellence; has received five Certificates of Teaching Excellence at Virginia Tech, the W. E. Wine Award for Teaching Excellence, and the Alumni Teaching Excellence Award; and in 1999 received the Outstanding Faculty Award from the State of Virginia. Professor Keown is widely published in academic journals. His work has appeared in the Journal of Finance, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, the Journal of Financial Research, the Journal of Banking and Finance, the Journal of Portfolio Management, and many others.
Professor Keown is a Fellow of the Decision Sciences Institute, was a member of the Board of Directors of the Financial Management Association, and is the head of the finance department at Virginia Tech. In addition, he served as the co-editor of the Journal of Financial Research and as the co-editor of the Financial Management Association’s Survey and Synthesis.
John D. Martin holds the Carr P. Collins Chair in Finance in the Hankamer School of Business at Baylor University, where he teaches in the Baylor EMBA programs and has three times been selected as the outstanding teacher. John joined the Baylor faculty in 1998 after spending 17 years on the faculty of the University of Texas at Austin.
Over his career he has published over 50 articles in the leading finance journals, including papers in the Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Monetary Economics, and Management Science. His recent research has spanned issues related to the economics of unconventional energy sources, the hidden cost of venture capital, and the valuation of firms filing Chapter 11.
Pearson Australia would like to thank Tony Martin for his authorship on previous editions of Titman et al, Financial Management: Principles and Applications. Through his thought leadership, Tony has made a valuable contribution to the learning experience and knowledge acquisition of a generation of finance students who have read this work.
Digital-first eText
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Once you’ve purchased a Pearson eText and added it to your digital bookshelf, you can access it online or offline from any device, including laptops, desktop computers, iPads and Android tablets.
12-month access eTextbook
Financial Management: Principles and Applications
ISBN-13: 9780655704454
