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Finance

by: Groppelli, A. A.

Finance

by: Groppelli, A. A.

ISBN 13:
9780764134203
ISBN 10:
0764134205
Edition: 5th
Format: Paperback
Copyright: 07/01/2006
Publisher: Barrons Educational Series Inc

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Summary

Books in this series are intended mainly for classroom use. They makexcellent supplements to main texts when included in college-level businessourses. In adult education and business brush-up programs they can serve asain textbooks. All titles in this series include review questions withnswers. Topics covered in this updated volume include capital budgeting andanagement, risk/return analysis of investment decisions, corporate mergers,nd much more.

Preface

Introduction

What is Finance All About?

(21)

The Manager as an Agent

(1)

Risk Versus Profits

(3)

Essential Skills of Financial Management

(4)

Understanding Economic Factors

(3)

Importance of Accounting

(1)

Globalization of the Firm

(2)

Implications of Outsourcing

(1)

Public Responsibility and Financial Management

(2)

Goals of Financial Planning

(1)

Know the Concepts

(1)

Answers

(3)

Business Types and Taxation Methods

(27)

Forms of Business Organizations

(2)

Basics of Taxation

(15)

Federal Income Tax for Individuals

(7)

Corporate Taxation

(2)

Basics of Depreciation

(1)

Major Methods of Depreciation

(4)

S Corporations and Tax Advantages

(1)

Small Business Administration (SBA)

(1)

Know the Concepts

(1)

Practical Application

(2)

Answers

(6)

VALUATION (TIME AND RISK)

The Value of Money Over Time

(24)

Why the Value of Money Changes over Time

(2)

Future Value and Compound Interest

(6)

Present Value and Discount Rates

(9)

Present Value of an Annuity

(2)

Present Value of Variable Cash Flows

(1)

Present Value of Perpetuities

(3)

Interim-Year Compounding

(2)

Calculating Growth Rates

(1)

Know the Concepts

(1)

Practical Application

(2)

Answers

(2)

Risk and Return

(44)

Relationship Between Risk and Return

(7)

Measuring Return

(2)

Measuring Risk

(3)

Calculating Expected Returns and Risks of Uncertain Projects

(11)

Portfolio Risk

(5)

Measuring Risk and Return with the Capital Asset Pricing Model (CAPM)

(5)

The Security Market Line (SML)

(3)

Keeping the CAPM and SML in Perspective

102

(1)

Arbitrage Pricing Theory

103

(9)

Taking Advantage of the Efficient Market

105

(2)

Divisional Risk and Returns

107

(5)

Know the Concepts

112

(1)

Practical Application

113

(2)

Answers

115

(4)

Valuation Methods

119

(20)

The Concept of Value

119

(8)

Valuation of Bonds

120

(2)

Valuation of Preferred Stock

122

(1)

Valuation of Common Stock

123

(4)

Using Price Multiples

127

(1)

Using the CAPM in Valuation Methods

128

(1)

Free Cash Flow

129

(2)

Know the Concepts

131

(1)

Practical Application

132

(1)

Answers

133

(6)

INTRODUCTION TO INVESTMENT POLICY: CAPITAL BUDGETING

Capital Budgeting: Preliminary Steps

139

(16)

What Is Capital Budgeting?

139

(2)

Determining Initial Costs

141

(4)

Determining Incremental Cash Flow

145

(3)

Know the Concepts

148

(1)

Practical Application

149

(2)

Answers

151

(4)

Capital Budgeting Methods: With No Risk

155

(19)

Average Rate of Return (ARR)

156

(1)

Payback Period

157

(2)

Net Present Value (NPV)

159

(2)

Profitability Index (PI)

161

(2)

Internal Rate of Return (IRR)

163

(3)

Why the NPV and IRR Sometimes Select Different Projects

166

(1)

When Are the NPV and IRR Reliable?

167

(1)

Know the Concepts

167

(1)

Practical Application

168

(2)

Answers

170

(4)

Capital Budgeting Methods: With Risk

174

(21)

Risk in Capital Budgeting

174

(1)

Certainty Equivalent Approach (CEA)

175

(2)

Sensitivity Analysis

177

(1)

The CAPM in Capital Budgeting

178

(2)

Simulation Techniques

180

(2)

Adjusting for Inflation

182

(2)

Know the Concepts

184

(1)

Practical Application

184

(3)

Answers

187

(8)

INVESTING, FINANCING, AND DIVIDEND DECISIONS

Cost of Capital

195

(38)

Basic Concepts

195

(5)

Cost of Capital as a Benchmark for Investment Decisions

196

(1)

Cost of Capital as a Measure of Profitability

196

(4)

Using Internal and External Sources to Raise Capital

200

(1)

Risk and the Cost of Capital

200

(13)

Cost of Long-Term Debt

202

(5)

Cost of Preferred Stock

207

(1)

Cost of Common Stock

208

(2)

CAPM and the Cost of Common Stock

210

(2)

Cost of Retained Earnings

212

(1)

Measuring the Weighted Average Cost of Capital (WACC)

213

(4)

Measuring the Weighted Marginal Cost of Capital (WMCC)

217

(5)

CAPM and the Cost of Capital

220

(2)

Divisional Cost of Capital

222

(2)

Globalization and the Cost of Capital

224

(1)

Know the Concepts

225

(2)

Practical Application

227

(1)

Answers

228

(5)

Capital Structure

233

(29)

Basic Concepts

233

(4)

Explaining Financial Leverage

234

(3)

Capital Structure

237

(5)

Capital Structure and Value of the Firm's Stock

237

(3)

Capital Structure and the Total Value of the Firm

240

(2)

Capital Structure Controversy

242

(13)

The Net Income (NI) Approach

243

(1)

The Net Operating Income (NOI) Approach

244

(2)

The Modigliani-Miller Theory

246

(2)

MM Model with Corporate Taxes

248

(1)

Current Interpretation of Capital Structure

249

(6)

Know the Concepts

255

(1)

Practical Application

256

(1)

Answers

257

(5)

Dividend Policy

262

(39)

Significance of Dividend Policy

262

(1)

Role of Dividends in the Valuation Process

263

(11)

Noncash Dividend Payouts

269

(1)

Effects of Noncash Dividends on the Balance Sheet

270

(2)

Limitations on Dividend Payments

272

(2)

Dividend Policy and the Price of Stocks

274

(13)

The Net Residual Approach

278

(3)

Free Cash Flow Approach to Valuation

281

(1)

Earnings Approach to Stock Valuation

282

(5)

Stock Repurchases

287

(3)

Why Buy Back Stock?

287

(3)

Know the Concepts

290

(2)

Practical Application

292

(1)

Answers

293

(8)

INVESTMENT DECISIONS BASED ON FINANCIAL DERIVATIVES

Options and Futures

301

(36)

Options

303

(8)

How Calls and Puts Work

305

(3)

Option Valuation and the Black and Scholes Model

308

(3)

The Binomial Model

311

(6)

Futures

317

(9)

Know the Concepts

326

(1)

Practical Application

327

(1)

Answers

328

(9)

SHORT- AND LONG-TERM CAPITAL SOURCES

Leases

337

(20)

Basics of Leasing

337

(3)

Types of Leases

340

(2)

FASB and IRS Rules

341

(1)

Is a Lease an Asset or a Liability?

342

(1)

Cash Flows of a Lease

342

(9)

Calculating Annual Rental Charges

344

(3)

Lease Versus Purchase: A Present Value Approach

347

(4)

Know the Concepts

351

(1)

Practical Application

352

(1)

Answers

353

(4)

Warrants and Convertibles

357

(19)

Warrants

358

(5)

Theoretical Value of Warrants

358

(2)

The Leverage Effect

360

(1)

Fair Value of Warrants (FVw)

360

(3)

What Happens When Warrants Are Exercised

363

(1)

Convertible Bonds

363

(7)

Value of Convertibles

364

(4)

Benefits to the Firm

368

(1)

Differences Between Warrants and Convertible Bonds

369

(1)

Know the Concepts

370

(1)

Practical Application

371

(1)

Answers

372

(4)

Short- and Long-Term Financing

376

(39)

Short-Term Financing

377

(7)

The Cash Cycle

384

(2)

Long-Term Financing

386

(1)

Bond Financing

387

(1)

Interest Rate Determination

387

(4)

The Timing of Financing Strategies

391

(10)

The Zero Coupon Bond Alternative

392

(2)

Common Stock Features

394

(7)

Know the Concepts

401

(2)

Practical Application

403

(1)

Answers

404

(11)

INTRODUCTION TO FINANCIAL ANALYSIS

Financial Planning

415

(16)

The Importance of Financial Planning

415

(1)

Methods to Estimate Needs

416

(5)

Analysis of Sources and Uses of Funds

421

(4)

Know the Concepts

425

(1)

Practical Application

425

(1)

Answers

426

(5)

MANAGING WORKING CAPITAL

Financing Working Capital

431

(16)

Managing Current Assets

431

(3)

Managing Accounts Receivable

434

(3)

Managing Inventory

437

(3)

Managing Accounts Payable

440

(2)

Know the Concepts

442

(1)

Practical Application

443

(1)

Answers

443

(4)

ANALYZING FINANCIAL STATEMENTS

Financial Statements and Ratios

447

(46)

Financial Statements

448

(9)

Uses of Financial Statements

454

(1)

Standardizing Financial Statements

455

(2)

Financial Ratios

457

(24)

Uses and Types of Ratios

457

(17)

Using Ratios to Analyze Performance

474

(3)

The Quality of Earnings

477

(2)

Limitations of Ratio Analysis

479

(2)

Know the Concepts

481

(1)

Practical Application

482

(2)

Answers

484

(9)

SPECIAL TOPICS

Mergers

493

(37)

Types of Mergers

494

(1)

Why Companies Merge

495

(3)

Tax Benefits of Mergers

497

(1)

Some Merger Considerations

498

(11)

Methods of Acquisition

499

(1)

The Theoretical Justification of Mergers

499

(9)

Other Considerations in Merger Deals

508

(1)

Accounting Aspects of Mergers

509

(2)

Anti-Merger Strategies

511

(1)

Financing Mergers

512

(2)

Do Mergers Work?

514

(6)

Mergers in the 1990s

515

(1)

Mergers in the 2000s

516

(2)

Alternatives to Mergers

518

(1)

Corporate Restructuring

519

(1)

Tracking Stock and Reverse Mergers

520

(2)

Know the Concepts

522

(2)

Practical Application

524

(1)

Answers

525

(5)

Basics of International Finance

530

(34)

Introduction to International Finance

531

(1)

Understanding Foreign Currency

532

(3)

Exchange Rate Appreciation and Depreciation

533

(2)

What Determines the Value of a Foreign Currency?

535

(2)

Terminology and Concepts

537

(5)

Balance of Payments

539

(2)

Special Drawing Rights (SDRs)

541

(1)

Understanding Foreign Exchange

542

(14)

Instruments of Foreign Exchange

543

(5)

Arbitrage

548

(2)

Interest Rate Options

550

(2)

The Future Currency Market

552

(2)

International Financial Markets

554

(2)

Export Financing

556

(4)

Know the Concepts

560

(1)

Practical Application

561

(1)

Answers

562

(2)

Financial Software and the Internet

564

(17)

Financial Software Introduction

565

(4)

Management Files

565

(1)

Spreadsheet Analysis

566

(1)

Statistical Packages

566

(1)

Math Packages

567

(1)

Financial Data Banks

567

(2)

The Internet Revolution

569

(9)

Cost and Efficiencies

570

(1)

Security Trading and Underwriting

571

(1)

Other Internet Applications

572

(3)

Selected Financial Web Sites

575

(3)

Know the Concepts

578

(1)

Answers

579

(2)

Appendix Tables

581

(17)

Table A-1 Future Value Interest Factor

582

(4)

Table A-2 Future Value Interest Factor Annuity

586

(4)

Table A-3 Present Value Interest Factor

590

(4)

Table A-4 Present Value Interest Factor Annuity

594

(4)

Glossary

598

(12)

Index

610

Amazon no longer offers textbook rentals. We do!

Finance

Finance

9780764134203

0764134205

Summary

Table of Contents

Supplemental Materials

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