Corporate Financial Management, 6th edition

Published by Pearson (March 13, 2019) © 2019

  • Glen Arnold Salford University
  • Deborah Lewis
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The 6th Edition of this highly respected text is comprehensive yet accessible, with real-world case studies to ground you in the application of important concepts.


Written with authority by authors steeped in the financial world, the book offers a comprehensive survey of the theory and practice of corporate finance for anyone studying the topic by itself or within business, accounting, finance, banking or economics courses, teaching you how to make informed, successful financial decisions that are crucial for a career in business.

It explores topics such as investment appraisal, risk and return, sources of finance, and risk management, including derivatives, and gives a unique treatment of corporate value.

  • Part 1 Introduction
  • 1 The financial world
  • Part 2 The investment decision
  • 2 Project appraisal: net present value and internal rate of return
  • 3 Project appraisal: cash flow and applications
  • 4 The decision-making process for investment appraisal
  • 5 Project appraisal: capital rationing, taxation and inflation
  • Part 3 Risk and return
  • 6 Risk and project appraisal
  • 7 Portfolio theory
  • 8 The Capital Asset Pricing Model and multi-factor models
  • Part 4 Sources of finance
  • 9 Stock markets
  • 10 Raising equity capital
  • 11 Long-term debt finance
  • 12 Short- and medium-term finance, treasury and working capital management
  • 13 Stock market efficiency
  • Part 5 Corporate value
  • 14 Value-based management
  • 15 Value-creation metrics
  • 16 The cost of capital
  • 17 Valuing shares
  • 18 Capital structure
  • 19 Dividend policy
  • 20 Mergers
  • Part 6 Managing risk
  • 21 Derivatives
  • 22 Managing exchange-rate risk
  • Appendices
  • I Future value of £1 at compound interest
  • II Present value of £1 at compound interest
  • III Present value of an annuity of £1 at compound interest
  • IV Future value of an annuity of £1 at compound interest
  • V Areas under the standardised normal distribution
  • VI Answers to the mathematical tools exercises in Chapter 2, Appendix 2.1
  • Glossary
  • Bibliography
  • Index

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