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Intermediate Financial Management, 14th Edition by Brigham Test Bank

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Test Bank for Intermediate Financial Management, 14th Edition, 14e by Eugene F. Brigham, Phillip R. Daves TEST BANK ISBN-13: 9780357516775 FULL CHAPTERS INCLUDED Chapter 1: An Overview of Finan... cial 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: The Functions of Financial Institutions 1.9: Financial Markets 1.10: Overview of the U.S. Stock Markets 1.11: Trading in the Modern Stock Markets 1.12: Finance and the Great Recession of 2007 1.13: The Big Picture 1.14: e-Resources 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 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 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 (r) 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 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 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: Corporate Income Taxes 6.10: Personal Taxes Chapter 7: Analysis of Financial Statements 7.1: Financial Analysis 7.2: Profitability Ratios 7.3: Asset Management Ratios 7.4: Liquidity Ratios 7.5: Debt Management 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 Part 2: Corporate Valuation Chapter 8: Corporate Valuation and Stock Valuation 8.1: Legal Rights and Privileges of Common Stockholders 8.2: Classified Stock and Tracking 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 8.7: Application of the FCF Valuation Model to MicroDrive 8.8: Do Stock Values Reflect LongTerm 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: Dividend Valuation Models 8.12: The Market Multiple Method 8.13: Comparing the FCF Valuation Model, the Dividend Growth Model, and the Market Multiple Method 1.14: Preferred Stock 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 9.7: The CFO’s Model 9.8: Additional Funds Needed (AFN) Equation 9.9: Forecasting When the Ratios Change Chapter 10: Corporate Governance 10.1: Agency Conflicts 10.2: Corporate Governance 10.3: Employee Stock Ownership Plans (ESOPs) Chapter 11: 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: The Cost of Debt 11.4: Cost of Preferred Stock, r 11.5: Cost of Common Stock: The Market Risk Premium, RP 11.6: Using the CAPM to Estimate the Cost of Common Stock, r 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 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 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 Analysis 13.8: Project Risk Conclusions 13.9: Replacement Analysis 13.10: Phased Decisions and Decision Trees 13.11: Other Real Options Chapter 13A: Depreciation for Tax Purposes 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 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 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 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 Part 5: Tactical Financing Decisions Chapter 18: Initial Public Offerings, Investment Banking, and Financial Restructuring 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 Chapter 19: Lease Financing 19.1: Types of Leases 19.2: Reporting Leases on Financial Statements 19.3: Lease Analysis: Determination of Tax Status by the Internal Revenue Service (IRS) 19.4: Lease Analysis: Non-TaxOriented Leases 19.5: Lease Analysis: Tax-Oriented Lease 19.6: Evaluation by the Lessor 19.7: Leases, Taxes, and the 2017 Tax Cuts and Jobs Act 19.8: Other Issues in Lease Analysis 19.9: Other Reasons for Leasing 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 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 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 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 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 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 25.8: Other Motivations for Bankruptcy 25.9: Some Criticisms of Bankruptcy Laws Chapter 26: Mergers and Corporate Control 26.1: Rationale for Mergers 26.2: Types of Mergers: Business Types, Acquisition Methods, and Hidden Liabilities 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: Merger Tax Treatments 26.14: Financial Reporting for Mergers 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: Forward Exchange Rates and Risk Management 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 [Show More]

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