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CORPORATE FINANCE

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The text emphasizes the modern fundamentals of the theory of finance while providing contemporary examples to make the theory come to life. The authors aim to present corporate finance as the working of a small number of integrated and powerful intuitions rather than a collection of unrelated topics. They develop the central concepts of modern finance: arbitrage, net present value, efficient markets, agency theory, options, and the trade-off between risk and return, and use them to explain corporate finance with a balance of theory and application. The 13th edition also welcomes a special contributor, Professor Kelly Shue of Yale University.

There are five primary areas of change reflected in the 13th edition:
1. Personal taxes. Entities other than C corporations still face progressive taxation at the personal tax level. Discussion of marginal versus average tax rates is examined.
2. COVID-19. The 2020-2021 COVID-19 pandemic affected corporate operations in numerous ways, including capital budgeting, long-term and short-term financial planning, capital structure, supply chain management, and risk management. We have incorporated discussions around these shocks and their impact on different types of corporations.
3. Discussion of levered versus unlevered beta. We have added a more in-depth discussion of levering and unlevering beta, including a discussion of when to unlever beta and when not to do so.
4. Venture capital. We added a much updated and expanded discussion of entrepreneurship and venture capital, including the different venture capital funding stages.
5. Comparables valuation for stocks. We added an expanded discussion of comparable valuation for stocks, including price ratios for various industries.

With the 13th edition, we've also included coverage of:
• Tax advantages of share repurchases.
• Empirical evidence of behavioral challenges to market efficiency.
• Fintech.
• Updated discussion of executive stock options.
• More detailed discussion of the Chaneg to WACC approach.
• Cross-selling, leveraged recapitalizations, and debt overhang.
• Using forward rates to implement the home currency approach.
In addition, each chapter has been updated and, where relevant, "internationalized." We try to capture the excitement of corporate finance with current examples, chapter vignettes, and openers. Spreadsheet applications are spread throughout.

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Availability

10000225

658 ROS c 13th

RLC MM (Rak Buku Wajib)

Available

Detail Information

Series Title

-

Statement of Responsibility

Stephen A. Ross

Call Number

658 ROS c 13th

Publisher

New York : McGraw-Hill., 2022

Collation

xxxii, 1022 p. : ill. ; 25 cm.

Language

English

ISBN/ISSN

978-1-265-53319-9

Classification

658

Content Type

-

Edition

13th. ed.

Subject(s)

Buku Wajib
Corporate Finance

Specific Detail Info

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