Corporate Finance

This text is written for the introductory course in corporate finance at the MBA level, and for intermediate finance or the 2nd corporate finance course in many undergraduate programs. At better colleges and universities, this text could be appropriate for the undergraduate introductory course. This popular textbook 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 well-respected author team is known for their clear, accessible presentation of material that makes this text an excellent teaching tool.