Finance > eBook-PDF > eBook for Intermediate Financial Management 13th Edition By Eugene Brigham, Phillip Daves (All)

eBook for Intermediate Financial Management, 13th Edition By Eugene Brigham, Phillip Daves Get all 27 chapters eBook PDF. Table of Contents Part 1: Fundamental Concepts of Corporate Finance ... Chapter 1: An Overview of Financial Management and the Financial Environment 1-1 Introduction 1-2 How to Use This Text 1-3 The Corporate Life Cycle 1-4 Governing a Corporation 1-5 An Overview of Financial Markets 1-6 Claims on Future Cash Flows: Types of Financial Securities 1-7 Claims on Future Cash Flows: The Required Rate of Return (the Cost of Money) 1-8 Financial Markets 1-9 Overview of the U.S. Stock Markets 1-10 Trading in the Modern Stock Markets 1-11 Finance and the Great Recession of 2007 1-12 The Big Picture e-Resources Summary Questions Chapter 2: Risk and Return: Part I 2-1 Investment Returns and Risk 2-2 Measuring Risk for Discrete Distributions 2-3 Risk in a Continuous Distribution 2-4 Using Historical Data to Estimate Risk 2-5 Risk in a Portfolio Context 2-6 The Relevant Risk of a Stock: The Capital Asset Pricing Model (CAPM) 2-7 The Relationship between Risk and Return in the Capital Asset Pricing Model 2-8 The Efficient Markets Hypothesis 2-9 The Fama-French Three-Factor Model 2-10 Behavioral Finance 2-11 The CAPM and Market Efficiency: Implications for Corporate Managers and Investors Summary Questions Problems Spreadsheet Problem Chapter 3: Risk and Return: Part II 3-1 Efficient Portfolios 3-2 Choosing the Optimal Portfolio 3-3 The Basic Assumptions of the Capital Asset Pricing Model 3-4 The Capital Market Line and the Security Market Line 3-5 Calculating Beta Coefficients 3-6 Empirical Tests of the CAPM 3-7 Arbitrage Pricing Theory Summary Questions Problems Spreadsheet Problem Chapter 4: Bond Valuation 4-1 Who Issues Bonds? 4-2 Key Characteristics of Bonds 4-3 Bond Valuation 4-4 Changes in Bond Values over Time 4-5 Bonds with Semiannual Coupons 4-6 Bond Yields 4-7 The Pre-Tax Cost of Debt: Determinants of Market Interest Rates 4-8 The Risk-Free Interest Rate: Nominal (rRF) and Real (r*) 4-9 The Inflation Premium (IP) 4-10 The Maturity Risk Premium (MRP) 4-11 The Default Risk Premium (DRP) 4-12 The Liquidity Premium (LP) 4-13 The Term Structure of Interest Rates 4-14 Financing with Junk Bonds 4-15 Bankruptcy and Reorganization Summary Questions Problems Spreadsheet Problems Chapter 5: Financial Options 5-1 Overview of Financial Options 5-2 The Single-Period Binomial Option Pricing Approach 5-3 The Single-Period Binomial Option Pricing Formula 5-4 The Multi-Period Binomial Option Pricing Model 5-5 The Black-Scholes Option Pricing Model (OPM) 5-6 The Valuation of Put Options 5-7 Applications of Option Pricing in Corporate Finance Summary Questions Problems Spreadsheet Problem Chapter 6: Accounting for Financial Management 6-1 Financial Statements and Reports 6-2 The Balance Sheet 6-3 The Income Statement 6-4 Statement of Stockholders' Equity 6-5 Statement of Cash Flows 6-6 Net Cash Flow 6-7 Free Cash Flow: The Cash Flow Available for Distribution to Investors 6-8 Performance Evaluation 6-9 The Federal Income Tax System Summary Questions Problems Spreadsheet Problems Chapter 7: Analysis of Financial Statements 7-1 Financial Analysis 7-2 Liquidity Ratios 7-3 Asset Management Ratios 7-4 Debt Management Ratios 7-5 Profitability Ratios 7-6 Market Value Ratios 7-7 Trend Analysis, Common Size Analysis, and Percentage Change Analysis 7-8 Tying the Ratios Together: The DuPont Equation 7-9 Comparative Ratios and Benchmarking 7-10 Uses and Limitations of Ratio Analysis 7-11 Looking beyond the Numbers Summary Questions Problems Spreadsheet Problem Part 2: Corporate Valuation Chapter 8: Basic Stock Valuation 8-1 Legal Rights and Privileges of Common Stockholders 8-2 Types of Common Stock 8-3 Stock Market Reporting 8-4 Valuing Common Stocks-Introducing the Free Cash Flow (FCF) Valuation Model 8-5 The Constant Growth Model: Valuation When Expected Free Cash Flow Grows at a Constant Rate 8-6 The Multistage Model: Valuation When Expected Short-Term Free Cash Flow Grows at a Nonconstant R 8-7 Application of the FCF Valuation Model to MicroDrive 8-8 Do Stock Values Reflect Long-Term or Short-Term Cash Flows? 8-9 Value-Based Management: Using the Free Cash Flow Valuation Model to Identify Value Drivers 8-10 Why Are Stock Prices So Volatile? 8-11 Valuing Common Stocks with the Dividend Growth Model 8-12 The Market Multiple Method 8-13 Comparing the FCF Valuation Model, the Dividend Growth Model, and the Market Multiple Method 8-14 Preferred Stock Summary Questions Problems Spreadsheet Problems Chapter 9: Corporate Valuation and Financial Planning 9-1 Overview of Financial Planning 9-2 Financial Planning at MicroDrive Inc. 9-3 Forecasting Operations 9-4 Evaluating MicroDrive's Strategic Initiatives 9-5 Projecting MicroDrive's Financial Statements 9-6 Analysis and Selection of a Strategic Plan 9-8 Additional Funds Needed (AFN) Equation Method 9-9 Forecasting When the Ratios Change Summary Questions Problems Spreadsheet Problems Chapter 10: Corporate Governance 10-1 Agency Conflicts 10-2 Corporate Governance 10-3 Employee Stock Ownership Plans (ESOPs) Summary Questions Chapter 11: Determining the Cost of Capital 11-1 The Weighted Average Cost of Capital 11-2 Choosing Weights for the Weighted Average Cost of Capital 11-3 After-Tax Cost of Debt: rd(1 - T) and rstd(1 - T) 11-4 Cost of Preferred Stock, rps 11-5 Cost of Common Stock: The Market Risk Premium, RPM 11-6 Using the CAPM to Estimate the Cost of Common Stock, rs 11-7 Using the Dividend Growth Approach to Estimate the Cost of Common Stock 11-8 The Weighted Average Cost of Capital (WACC) 11-9 Adjusting the Cost of Equity for Flotation Costs 11-10 Privately Owned Firms and Small Businesses 11-11 The Divisional Cost of Capital 11-12 Estimating the Cost of Capital for Individual Projects 11-13 Managerial Issues and the Cost of Capital Summary Questions Problems Spreadsheet Problem Part 3: Project Valuation Chapter 12: Capital Budgeting: Decision Criteria 12-1 An Overview of Capital Budgeting 12-2 The First Step in Project Analysis 12-3 Net Present Value (NPV) 12-4 Internal Rate of Return (IRR) 12-5 Modified Internal Rate of Return (MIRR) 12-6 Profitability Index (PI) 12-7 Payback Period 12-8 How to Use the Different Capital Budgeting Methods 12-9 Other Issues in Capital Budgeting Summary Questions Problems Spreadsheet Problem Chapter 13: Capital Budgeting: Estimating Cash Flows and Analyzing Risk 13-1 Identifying Relevant Cash Flows 13-2 Analysis of an Expansion Project 13-3 Risk Analysis in Capital Budgeting 13-4 Measuring Stand-Alone Risk 13-5 Sensitivity Analysis 13-6 Scenario Analysis 13-7 Monte Carlo Simulation 13-8 Project Risk Conclusions 13-9 Replacement Analysis 13-10 Real Options 13-11 Phased Decisions and Decision Trees Summary Questions Problems Spreadsheet Problem Appendix 13A: Tax Depreciation Chapter 14: Real Options 14-1 Valuing Real Options 14-2 The Investment Timing Option: An Illustration 14-3 The Growth Option: An Illustration 14-4 Concluding Thoughts on Real Options Summary Questions Problems Spreadsheet Problem Part 4: Strategic Financing Decisions Chapter 15: Distributions to Shareholders: Dividends and Repurchases 15-1 An Overview of Cash Distributions 15-2 Procedures for Cash Distributions 15-3 Cash Distributions and Firm Value 15-4 Clientele Effect 15-5 Signaling Hypothesis 15-6 Implications for Dividend Stability 15-7 Setting the Target Distribution Level: The Residual Distribution Model 15-8 The Residual Distribution Model in Practice 15-9 A Tale of Two Cash Distributions: Dividends versus Stock Repurchases 15-10 The Pros and Cons of Dividends and Repurchases 15-11 Other Factors Influencing Distributions 15-12 Summarizing the Distribution Policy Decision 15-13 Stock Splits and Stock Dividends 15-14 Dividend Reinvestment Plans Summary Questions Problems Spreadsheet Problem Chapter 16: Capital Structure Decisions 16-1 An Overview of Capital Structure 16-2 Business Risk and Financial Risk 16-3 Capital Structure Theory: The Modigliani and Miller Models 16-4 Capital Structure Theory: Beyond the Modigliani and Miller Models 16-5 Capital Structure Evidence and Implications 16-6 Estimating the Optimal Capital Structure 16-7 Anatomy of a Recapitalization 16-8 Risky Debt and Equity as an Option 16-9 Managing the Maturity Structure of Debt Summary Questions Problems Spreadsheet Problems Chapter 17: Dynamic Capital Structures and Corporate Valuation 17-1 The Adjusted Present Value (APV) Approach 17-2 The Modigliani and Miller Models 17-3 The Compressed Adjusted Present Value (CAPV) Model 17-4 The Free Cash Flow to Equity (FCFE) Model 17-5 Multistage Valuation When the Capital Structure Is Stable 17-6 Illustration of the Three Valuation Approaches for a Constant Capital Structure 17-7 Analysis of a Dynamic Capital Structure Summary Questions Problems Spreadsheet Problem Part 5: Tactical Financing Decisions Chapter 18: Initial Public Offerings, Investment Banking, and Capital Formation 18-1 The Financial Life Cycle of a Start-Up Company 18-2 The Decision to Go Public 18-3 The Process of Going Public: An Initial Public Offering 18-4 Equity Carve-Outs: A Special Type of IPO 18-5 Other Ways to Raise Funds in the Capital Markets 18-6 Investment Banking Activities 18-7 The Decision to Go Private Summary Questions Problems Spreadsheet Problem Chapter 19: Lease Financing 19-1 Types of Leases 19-2 Tax Effects 19-3 Financial Statement Effects 19-4 Evaluation by the Lessee 19-5 Evaluation by the Lessor 19-6 Other Issues in Lease Analysis 19-7 Other Reasons for Leasing Summary Questions Problems Spreadsheet Problem Chapter 20: Hybrid Financing: Preferred Stock, Warrants, and Convertibles 20-1 Preferred Stock 20-2 Warrants 20-3 Convertible Securities 20-4 A Final Comparison of Warrants and Convertibles 20-5 Reporting Earnings When Warrants or Convertibles Are Outstanding Summary Questions Problems Spreadsheet Problem Part 6: Working Capital Management Chapter 21: Supply Chains and Working Capital Management 21-1 Overview of Supply Chain Management 21-2 Using and Financing Operating Current Assets 21-3 The Cash Conversion Cycle 21-4 Inventory Management 21-5 Receivables Management 21-6 Accruals and Accounts Payable (Trade Credit) 21-7 The Cash Budget 21-8 Cash Management and the Target Cash Balance 21-9 Cash Management Techniques 21-10 Managing Short-Term Investments 21-11 Short-Term Bank Loans 21-12 Commercial Paper 21-13 Use of Security in Short-Term Financing Summary Problems Spreadsheet Problem Chapter 22: Providing and Obtaining Credit 22-1 Credit Policy 22-2 Monitoring Receivables with the Uncollected Balances Schedule 22-3 Analyzing Proposed Changes in Credit Policy 22-4 Analyzing Proposed Changes in Credit Policy: Incremental Analysis 22-5 The Cost of Bank Loans 22-6 Choosing a Bank Summary Questions Problems Spreadsheet Problem Chapter 23: Other Topics in Working Capital Management 23-1 The Concept of Zero Working Capital 23-2 Setting the Target Cash Balance 23-3 Inventory Control Systems 23-4 Accounting for Inventory 23-5 The Economic Ordering Quantity (EOQ) Model 23-6 EOQ Model Extensions Summary Questions Problems Spreadsheet Problem Part 7: Special Topics Chapter 24: Enterprise Risk Management 24-1 Reasons to Manage Risk 24-2 An Overview of Enterprise Risk Management 24-3 A Framework for Enterprise Risk Management 24-4 Categories of Risk Events 24-5 Foreign Exchange (FX) Risk 24-6 Commodity Price Risk 24-7 Interest Rate Risk 24-8 Project Selection Risks 24-9 Managing Credit Risks 24-10 Risk and Human Safety Summary Questions Problems Spreadsheet Problem Chapter 25: Bankruptcy, Reorganization, and Liquidation 25-1 Financial Distress and Its Consequences 25-2 Issues Facing a Firm in Financial Distress 25-3 Settlements without Going through Formal Bankruptcy 25-4 Federal Bankruptcy Law 25-5 Reorganization in Bankruptcy (Chapter 11 of Bankruptcy Code) 25-6 Liquidation in Bankruptcy 25-7 Anatomy of a Bankruptcy: Transforming the GM Corporation into the GM Company 25-8 Other Motivations for Bankruptcy 25-9 Some Criticisms of Bankruptcy Laws Summary Questions Problems Spreadsheet Problem Chapter 26: Mergers and Corporate Control 26-1 Rationale for Mergers 26-2 Types of Mergers 26-3 Level of Merger Activity 26-4 Hostile versus Friendly Takeovers 26-5 Merger Regulation 26-6 Overview of Merger Analysis 26-7 Estimating a Target's Value 26-8 Setting the Bid Price 26-9 Who Wins: The Empirical Evidence 26-10 The Role of Investment Bankers 26-11 Other Business Combinations 26-12 Divestitures 26-13 Tax Treatment of Mergers 26-14 Financial Reporting for Mergers Summary Questions Problems Spreadsheet Problem Chapter 27: Multinational Financial Management 27-1 Multinational, or Global, Corporations 27-2 Multinational versus Domestic Financial Management 27-3 Exchange Rates 27-4 The Fixed Exchange Rate System 27-5 Floating Exchange Rates 27-6 Government Intervention in Foreign Exchange Markets 27-7 Other Exchange Rate Systems: No Local Currency, Pegged Rates, and Managed Floating Rates 27-8 Trading in Foreign Exchange: Spot Rates and Forward Rates 27-9 Interest Rate Parity 27-10 Purchasing Power Parity 27-11 Inflation, Interest Rates, and Exchange Rates 27-12 International Money and Capital Markets 27-13 Multinational Capital Budgeting 27-14 International Capital Structures 27-15 Multinational Working Capital Management Summary Questions Problems Spreadsheet Problems Appendix A: Values of the Areas under the Standard Normal Distribution Function Appendix B: Answers to End-of-Chapter Problems Appendix C: Selected Equations Glossary Name Index Subject Index [Show More]

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