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Principles of Managerial Finance, Brief Edition, 8th edition

Published by Pearson (February 20, 2018) © 2019

  • Chad J. Zutter University of Pittsburgh
  • Scott B. Smart Indiana University

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For introductory managerial finance courses.

Using a proven teaching and learning framework to solve real-world problems

The Teaching and Learning System, a hallmark feature of Principles of Managerial Finance, Brief, weaves pedagogy into concepts and practice, giving students a roadmap to follow through the text and supplementary tools.

Using a generous amount of examples, the 8th Edition concentrates on the latest material students need to know in order to make effective financial decisions in an increasingly competitive business environment. As such, it allows students to make the connections between a firm's action and its value, as determined in the financial market.

Hallmark features of this title

  • Learning Goals highlight the most important concepts and techniques to be covered in the chapter.
  • The overarching organization helps students make connections, with each major decision presented in terms of both risk and return factors and their potential impact on an owner's wealth.
  • Why This Chapter Matters to You boxes generate interest by discussing how the topic at hand relates to other major business disciplines and personal finance decisions.
  • Discussion of international dimensions is integrated throughout the chapters, learning goals, and end-of-chapter content. A separate chapter on international managerial finance is also available at the end of the text.
  • Personal Finance examples link the concepts, tools, and techniques of each chapter.

New and updated features of this title

  • EXPANDED: Content focuses on the goal of the firm and the broad principles that financial managers use in their pursuit of that goal (Ch. 1).
  • NEW: Discussions cover the financial market context in which firms operate, with new focus on the transactions costs that investors face when trading in secondary markets (Ch. 2).
  • NEW: In-depth ratio analysis uses real data from Whole Foods prior to its acquisition by Amazon, to spark conversations about some of the possible motives for the acquisition (Ch. 3).
  • EXPANDED: Discussions look at how and why companies have shifted their payout policies away from dividends and toward share repurchases over time (Ch. 13).
  • NEW: Chapter Introduction Videos and animations feature authors who explain the importance of the chapter content within the context of managerial finance. The animations for select in-chapter figures and examples allow students to manipulate inputs to determine outputs.
  • UPDATED: Focus On… boxes draw on actual events to highlight important business practices, ethics, and the intersection of people, planet, and profit.

Features of MyLab Finance for the 8th Edition

  • 20 NEW: Author-created, auto-graded Excel Projects let you seamlessly integrate Microsoft® Excel® content into your course without having to manually grade spreadsheets.
  • The Study Plan gives students personalized recommendations, practice opportunities and learning aids to help them stay on track.
  • Students can access a fully functional Financial Calculator inside MyLab and a financial calculator app that they can download to their iPhone®, iPad®, or Android device. They can perform financial calculations and complete assignments, all in the same place.
  • The Gradebook offers an easy way for you and your students to see their performance in your course.
  • With LMS Integration, you can link your MyLab course from Blackboard Learnâ„¢, Brightspace® by D2L®, Canvasâ„¢, or Moodle®.

PART I: INTRODUCTION TO MANAGERIAL FINANCE

  1. The Role of Managerial Finance
  2. The Financial Market Environment

PART II: FINANCIAL TOOLS

  1. Financial Statements and Ratio Analysis
  2. Long- and Short-Term Financial Planning
  3. Time Value of Money

PART III: VALUATION OF SECURITIES

  1. Interest Rates and Bond Valuation
  2. Stock Valuation

PART IV: RISK AND THE REQUIRED RATE OF RETURN

  1. Risk and Return
  2. The Cost of Capital

PART V: LONG-TERM INVESTMENT DECISIONS

  1. Capital Budgeting Techniques
  2. Capital Budgeting Cash Flows and Risk Refinements

PART VI: LONG-TERM FINANCIAL DECISIONS

  1. Leverage and Capital Structure
  2. Payout Policy

PART VII: SHORT-TERM FINANCIAL DECISIONS

  1. Working Capital and Current Assets Management
  2. Current Liabilities Management

About our authors

Chad J. Zutter is a finance professor and the James Allen Faculty Fellow at the Katz Graduate School of Business at the University of Pittsburgh. Dr. Zutter received his BBA from the University of Texas at Arlington and his PhD from Indiana University. His research has a practical, applied focus and has been the subject of feature stories in, among other prominent outlets, The Economist and CFO Magazine. His papers have been cited in arguments before the US Supreme Court and in consultation with companies such as Google and Intel. Dr. Zutter won the prestigious Jensen Prize for the best paper published in the Journal of Financial Economics and a best paper award from the Journal of Corporate Finance, where he is currently an Associate Editor. He has won teaching awards at the Kelley School of Business at Indiana University and the Katz Graduate School of Business at the University of Pittsburgh. Dr. Zutter also serves on the board of Lutheran SeniorLife and, prior to his career in academics, he was a submariner in the US Navy. Dr. Zutter and his wife have 4 children and live in Pittsburgh, Pennsylvania. In his free time he enjoys horseback riding and downhill skiing.

Scott B. Smart is a finance professor and the Fettig/Whirlpool Finance Faculty Fellow at the Kelley School of Business at Indiana University. Dr. Smart received his BBA from Baylor University and his MA and PhD from Stanford University. His research focuses primarily on applied corporate finance topics and has been published in journals such as the Journal of Finance, the Journal of Financial Economics, the Journal of Corporate Finance, Financial Management, and others. His articles have been cited by business publications including The Wall Street Journal, The Economist, and Business Week. Winner of more than a dozen teaching awards, Dr. Smart has been listed multiple times as a top business school teacher by Business Week. He has held Visiting Professor positions at the University of Otago and Stanford University, and he worked as a Visiting Scholar for Intel Corporation, focusing on that company's mergers and acquisitions activity during the ‘‘Dot-com'' boom in the late 1990s. As a volunteer, Dr. Smart currently serves on the boards of the Indiana University Credit Union and Habitat for Humanity. In his spare time he enjoys outdoor pursuits such as hiking and fly fishing.

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