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Financial Management: Principles and Applications, 13th edition

Published by Pearson (January 12, 2017) © 2018

  • Sheridan Titman University of Texas at Austin
  • Arthur J. Keown
  • John D. Martin Baylor University

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For corporate finance and financial management courses.

Develop and begin to apply financial principles

Students often struggle to see how financial concepts relate to their daily routines and prospective careers. Financial Management: Principles and Applications gives students a big picture perspective of finance and how it's important in their personal and professional lives.

Using 5 key principles, the 13th Edition provides an approachable introduction to financial decision-making, weaving in real-world issues to demonstrate the practical applications of critical financial concepts.

Hallmark features of this title

Coverage of key financial principles

  • Relevant, contemporary examples help students easily identify relationships between 5 guiding financial principles.
  • The Business of Life boxes link important financial concepts to personal finance matters, helping students see the principles in action.

Learning aids for a deeper level of understanding

  • Concept Check boxes let students test their understanding before moving on.
  • Regardless of Your Major boxes incorporate other business school major examples to show how finance is applicable to students and their career paths.
  • Finance in a Flat World boxes show how each chapter's content applies to international business.
  • Checkpoint Worked Examples let students assess their knowledge at specific points in the text.

New and updated features of this title

Learning aids for a deeper level of understanding

  • UPDATED: Financial Analysis Tools sections provide quick reference guides for decision-making tools used in financial analysis.
  • UPDATED: Finance for Life boxes provide parallel analysis of text discussions using real-world examples to frame key financial management concepts.
  • UPDATED: End-of-chapter problems help students evaluate their skills and knowledge with the most current financial management info available.
  • UPDATED: Real examples and data incorporate actual company case studies to reflect current financial conditions.

The latest events

  • UPDATED: Discussion of major topics increases currency of the content, reflecting the most recent changes in financial markets, interest rates, and international business.
  • NEW: Section on the impact of exchange rates gives students a deeper look at how changes affect the global market and influence the profitability of multinational firms.

Highlights of the DIGITAL UPDATE for MyLab Finance (available for Spring 2021 classes)

Instructors, contact your sales rep to ensure you have the most recent version of the course.

  • NEW: Finance Simulations have students apply key finance concepts to real-world scenarios as well as receive instant feedback.

Features of MyLab Finance for the 13th Edition; published 2021

  • NEW: Using proven, field-tested technology, auto-graded Excel Projects allow instructors to seamlessly integrate Excelâ„¢ content into their course.
  • UPDATED: Lecture Capture Videos test students' comprehension and walk them through concepts and problems at checkpoints throughout the text.
  • Learning Cataytics pose questions to help students recall ideas and apply concepts. They respond on their own devices.
  • Question Help. If students get stuck on a homework or practice question in MyLab, Learning Aids, such as Help Me Solve This walk them through the problem and identify helpful info in the text.
  • Students have access to a fully functional financial calculator inside MyLab Finance and a financial calculator app that they can download to their iPhone®, iPad® or Android device.
  • Videos on challenging topics, including default risk, market efficiency, diversification, and mutual fund performance, are available for assignment or student self-study.

PART 1: INTRODUCTION TO FINANCIAL MANAGEMENT
1. Getting Started: Principles of Finance
2. Firms and the Financial Markets
3. Understanding Financial Statements
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. An Introduction to Risk and Return: History of Financial Market Returns
8. Risk and Return: Capital Market Theory
9. Debt Valuation and Interest Rates
10. Stock Valuation

PART 3: CAPITAL BUDGETING
11. Investment Decision Criteria
12. Analyzing Project Cash Flows
13. Risk Analysis and Project Evaluation
14. The Cost of Capital

PART 4: CAPITAL STRUCTURE AND DIVIDEND POLICY
15. Capital Structure Policy
16. Dividend and Share Repurchase Policy

PART 5: LIQUIDITY MANAGEMENT AND SPECIAL TOPICS IN FINANCE
17. Financial Forecasting and Planning
18. Working-Capital Management
19. International Business Finance
20. Corporate Risk Management

About our authors

Sheridan Titman holds the McAllister Centennial Chair in Financial Services at the University of Texas. He has a BS from the University of Colorado and an MS and PhD 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 to 1989 academic year in Washington, DC 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. Titman has served as both Presidents and Vice Presidents of the American Finance Association and the Western Finance Association and has served as a director of the American Finance Association, the Asia Pacific Finance Association, the Western Finance Association, and the Financial Management Association. He has published more than 50 articles in both academic and professional journals and has co-authored 2 additional books, Financial Markets and Corporate Strategy, and Valuation. 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.

Sheridan and Meg live with their 3 sons and dog (Mango) in Austin, Texas.

Arthur J. Keown is the R. B. Pamplin Professor of Finance and Finance Department Head at Virginia Polytechnic Institute and State University. He received his bachelor's degree from Ohio Wesleyan University, his MBA 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 at Virginia Tech, and he has received 5 certificates of Teaching Excellence, the W.E. Wine Award for Teaching Excellence, and the Alumni Teaching Excellence Award. In 1999, he 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, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Financial Research, Journal of Banking and Finance, Financial Management, Journal of Portfolio Management, and many others. Two of his books are widely used in college finance classes all over the country: Foundations of Finance: The Logic and Practice of Financial Management and Personal Finance, Turning Money into Wealth. Professor Keown is a Fellow of Decision Sciences Institute and head of the Finance Department. In addition, he has served as the co-editor of both the Journal of Financial Research and the Financial Management Association's Survey and Synthesis Series. He was recently inducted into Ohio Wesleyan's Hall of Fame for wrestling. His daughter and son are both married and live in Madison, Wisconsin, and Dubai, while he and his wife live in Blacksburg, Virginia, where he collects original art from Mad Magazine.

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