（已有10条评价）基本信息
- 原书名：Principles of Corporate Finance; 7th edition
- 原出版社： McGraw-Hill
- 作者： （英）理查德 A.布雷利（Richard A. Brealey）等
- 丛书名： 高等学校经济管理英文版教材
- 出版社：机械工业出版社
- ISBN：9787111158240
- 上架时间：2005-4-26
- 出版日期：2005 年4月
- 开本：16
- 页码：1071
- 版次：7-1
- 所属分类：经济管理 > 教材 > 专业课 > 财务管理学（公司理财）
教材 > 经济管理教材 > 专业课 > 财务管理学（公司理财）
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公司财务原理方面最具权威性的著作之一，财务理论与实践完美结合的最优秀的教科书！
内容简介
作译者
理查德A. 布雷利
(Richard A．Brealey)
伦敦商学院财务金融名誉教授，曾任欧洲金融协会主席和美国金融协会理事，英国科学院院士，长期担任英格兰银行总裁的特邀顾问和很多金融机构的董事。布雷利教授还曾著有《普通股的风险与收益引论》(Introduction to Risk and Return from Common Stocks)一书。
斯图尔特C. 迈尔斯
(Stewart C．Myers)
MIT斯隆管理学院Gordon Y. Billard财务教授。迈尔斯博士曾任美国金融协会、美国经济研究局研究协会主席，主要研究财务决策、价值评估、资本成本以及政府监管商业经营活动中的金融财务问题。迈尔斯博士现为Brattle Group的董事，并积极投身于财务咨询活动。
(Richard A．Brealey)
伦敦商学院财务金融名誉教授，曾任欧洲金融协会主席和美国金融协会理事，英国科学院院士，长期担任英格兰银行总裁的特邀顾问和很多金融机构的董事。布雷利教授还曾著有《普通股的风险与收益引论》(Introduction to Risk and Return from Common Stocks)一书。
斯图尔特C. 迈尔斯
(Stewart C．Myers)
MIT斯隆管理学院Gordon Y. Billard财务教授。迈尔斯博士曾任美国金融协会、美国经济研究局研究协会主席，主要研究财务决策、价值评估、资本成本以及政府监管商业经营活动中的金融财务问题。迈尔斯博士现为Brattle Group的董事，并积极投身于财务咨询活动。
目录
part one value
chapter 1 finance and the financial manager
chapter 2 present value and the opportunity cosy of capital
chapter 3 how to caluclate present values
chapter 4 the value of common stocks
chapter 5 why net present value leads to better investment decdisons than other criteria
chapter 6 making investment decisions with the net present value rule
part two pvk
chapter 7 inroduction to risk,return,and the opportunity cost of capital
chapter 8 risk and return
chapter 9 capital budgeting and risk
part three praticfal problem in capital budgeting
chapter 10 a project is not a black box
chapter 11 where positive net present values come from
chapter 12 making sure managers maximize npv
part four financing decixionx and market efficiency
chapter 13 corporate financing and the six lessons of market efficiency
chapter 14 an overvies of corporate financing
chapter 15 how corporations issue securities
part five dividend policy and capital tructure
chapter 1 finance and the financial manager
chapter 2 present value and the opportunity cosy of capital
chapter 3 how to caluclate present values
chapter 4 the value of common stocks
chapter 5 why net present value leads to better investment decdisons than other criteria
chapter 6 making investment decisions with the net present value rule
part two pvk
chapter 7 inroduction to risk,return,and the opportunity cost of capital
chapter 8 risk and return
chapter 9 capital budgeting and risk
part three praticfal problem in capital budgeting
chapter 10 a project is not a black box
chapter 11 where positive net present values come from
chapter 12 making sure managers maximize npv
part four financing decixionx and market efficiency
chapter 13 corporate financing and the six lessons of market efficiency
chapter 14 an overvies of corporate financing
chapter 15 how corporations issue securities
part five dividend policy and capital tructure
前言
This book describes the theory and practice of corpo-rate finance. We hardly need to explain why financial managers should master the practical aspects of their job, but we should spell out why down-to-earth, red- blooded managers need to bother with theory.
Managers learn from experience how to cope with routine problems. But the best managers are also able to respond to change. To do this you need more than time-honored rules of thumb; you must understand why companies and financial markets behave the way they do. In other words, you need a theory of finance.
Does that sound intimidating? It shouldn't. Good theory helps you grasp what is going on in the world around you. It helps you to ask the right questions when times change and new problems must be analyzed. It also tells you what things you do not need to worry about. Throughout this book we show how managers Use financial theory to solve practical problems.
Of course, the theory presented in this book is not perfect and complete--no theory is. There are some famous controversies in which financial economists cannot agree on what firms ought to do. We have not glossed over these controversies. We set out the main arguments for each side and tell you where we stand.
Once understood, good theory is common sense. Therefore we have tried to present it at a common- sense level, and we have avoided proofs and heavy mathematics. There are no ironclad prerequisites for reading this book except algebra and the English lan- guage. An elementary knowledge of accounting, sta- tistics, and microeconomics is helpful, however.
CHANGES IN THE SEVENTH EDITION
This book is written for students of financial man- agement. For many readers, it is their first look at the world of finance. Therefore in each edition we strive to make the book simpler, clearer, and more fun to read. But the book is also used as a reference and guide by practicing managers around the world. Therefore we also strive to make each new edition more comprehensive and authoritative.
We believe this edition is better for both the stu-dent and the practicing manager. Here are some of the major changes:
We have streamlined and simplified the exposi-tion of major concepts, with special attention to Chapters 1 through 12, where the fundamental con- cepts of valuation, risk and return, and capital bud- geting are introduced. In these chapters we cover only the most basic institutional material. At the same time we have rewritten Chapter 14 as a free- standing introduction to the nature of the corpora- tion, to the major sources of corporate financing, and to financial markets and institutions. Some readers will turn first to Chapter 14 to see the contexts in which financial decisions are made.
We have also expanded coverage of important topics. For example, real options are now introduced in Chapter 10--you don't have to master option- pricing theory in order to grasp what real options are and why they are important. Later in the book, after Chapter 20 (Understanding Options) and Chapter 21 (Valuing Options), there is a brand-new Chapter 22 on real options, which covers valuation methods and a range of practical applications.
Other examples of expanded coverage include be-havioral finance (Chapter 13) and new international evidence on the market-risk premium (Chapter 7). We have also reorganized the chapters on financial plan- ning and working capital management. In fact we have revised and updated every chapter in the book.
This edition's international coverage is ex-panded and woven into the rest of the text. For ex-ample, international investment decisions are now introduced in Chapter 6, right alongside domestic investment decisions. Likewise the cost of capital for international investments is discussed in Chap- ter 9, and international differences in security issue procedures are reviewed in Chapter 15. Chapter 34 looks at some of the international differences in fi- nancial architecture and ownership. There is, how- ever, a separate chapter on international risk man- agement, which covers foreign exchange rates and markets, political risk, and the valuation of capital investments in different currencies. There is also a new international index.
The seventh edition is much more Web-friendly than the sixth. Web references are highlighted in the text, and an annotated list of useful websites has been added to each part of the book.
Of course, as every first-grader knows, it is easier to add than to subtract, but we have pruned judi- ciously. Some readers of the sixth edition may miss a favorite example or special topic. But new readers should find that the main themes of corporate fi- nance come through with less clutter.
MAKING LEARNING EASIER
Each chapter of the book includes an introductory preview, a summary, and an annotated list of sug- gestions for further reading. There is a quick and easy quiz, a number of practice questions, and a few challenge questions. Many questions use financial data on actual companies accessible by the reader through Standard & Poor's Educational Version of Market Insight. In total there are now over a thou- sand end-of-chapter questions. All the questions re- fer to material in the same order as it occurs in the chapter. Answers to the quiz questions may be found at the end of the book, along with a glossary and tables for calculating present values and pric- ing options.
We have expanded and revised the mini-cases and added specific questions for each mini-case to guide the case analysis. Answers to the mini-cases are available to instructors on this book's website (www. mhhe.com/bm7e).
Parts 1 to 3 of the book are concerned with valua- tion and the investment decision, Parts 4 to 8 with long-term financing and risk management. Part 9 fo- cuses on financial planning and short-term financial decisions. Part 10 looks at mergers and corporate control and Part 11 concludes. We realize that many teachers will prefer a different sequence of topics. Therefore, we have ensured that the text is modular, so that topics can be introduced in a variety of orders. For example, there will be no difficulty in reading the material on financial statement analysis and short- term decisions before the chapters on valuation and capital investment.
We should mention two matters of style now to prevent confusion later. First, the most important fi- nancial terms are set out in boldface type the first time they appear; less important but useful terms are given in italics. Second, most algebraic symbols rep- resenting dollar values are shown as capital letters. Other symbols are generally lowercase letters. Thus the symbol for a dividend payment is "DIV," and the symbol for a percentage rate of return is "r."
SUPPLEMENTS
Managers learn from experience how to cope with routine problems. But the best managers are also able to respond to change. To do this you need more than time-honored rules of thumb; you must understand why companies and financial markets behave the way they do. In other words, you need a theory of finance.
Does that sound intimidating? It shouldn't. Good theory helps you grasp what is going on in the world around you. It helps you to ask the right questions when times change and new problems must be analyzed. It also tells you what things you do not need to worry about. Throughout this book we show how managers Use financial theory to solve practical problems.
Of course, the theory presented in this book is not perfect and complete--no theory is. There are some famous controversies in which financial economists cannot agree on what firms ought to do. We have not glossed over these controversies. We set out the main arguments for each side and tell you where we stand.
Once understood, good theory is common sense. Therefore we have tried to present it at a common- sense level, and we have avoided proofs and heavy mathematics. There are no ironclad prerequisites for reading this book except algebra and the English lan- guage. An elementary knowledge of accounting, sta- tistics, and microeconomics is helpful, however.
CHANGES IN THE SEVENTH EDITION
This book is written for students of financial man- agement. For many readers, it is their first look at the world of finance. Therefore in each edition we strive to make the book simpler, clearer, and more fun to read. But the book is also used as a reference and guide by practicing managers around the world. Therefore we also strive to make each new edition more comprehensive and authoritative.
We believe this edition is better for both the stu-dent and the practicing manager. Here are some of the major changes:
We have streamlined and simplified the exposi-tion of major concepts, with special attention to Chapters 1 through 12, where the fundamental con- cepts of valuation, risk and return, and capital bud- geting are introduced. In these chapters we cover only the most basic institutional material. At the same time we have rewritten Chapter 14 as a free- standing introduction to the nature of the corpora- tion, to the major sources of corporate financing, and to financial markets and institutions. Some readers will turn first to Chapter 14 to see the contexts in which financial decisions are made.
We have also expanded coverage of important topics. For example, real options are now introduced in Chapter 10--you don't have to master option- pricing theory in order to grasp what real options are and why they are important. Later in the book, after Chapter 20 (Understanding Options) and Chapter 21 (Valuing Options), there is a brand-new Chapter 22 on real options, which covers valuation methods and a range of practical applications.
Other examples of expanded coverage include be-havioral finance (Chapter 13) and new international evidence on the market-risk premium (Chapter 7). We have also reorganized the chapters on financial plan- ning and working capital management. In fact we have revised and updated every chapter in the book.
This edition's international coverage is ex-panded and woven into the rest of the text. For ex-ample, international investment decisions are now introduced in Chapter 6, right alongside domestic investment decisions. Likewise the cost of capital for international investments is discussed in Chap- ter 9, and international differences in security issue procedures are reviewed in Chapter 15. Chapter 34 looks at some of the international differences in fi- nancial architecture and ownership. There is, how- ever, a separate chapter on international risk man- agement, which covers foreign exchange rates and markets, political risk, and the valuation of capital investments in different currencies. There is also a new international index.
The seventh edition is much more Web-friendly than the sixth. Web references are highlighted in the text, and an annotated list of useful websites has been added to each part of the book.
Of course, as every first-grader knows, it is easier to add than to subtract, but we have pruned judi- ciously. Some readers of the sixth edition may miss a favorite example or special topic. But new readers should find that the main themes of corporate fi- nance come through with less clutter.
MAKING LEARNING EASIER
Each chapter of the book includes an introductory preview, a summary, and an annotated list of sug- gestions for further reading. There is a quick and easy quiz, a number of practice questions, and a few challenge questions. Many questions use financial data on actual companies accessible by the reader through Standard & Poor's Educational Version of Market Insight. In total there are now over a thou- sand end-of-chapter questions. All the questions re- fer to material in the same order as it occurs in the chapter. Answers to the quiz questions may be found at the end of the book, along with a glossary and tables for calculating present values and pric- ing options.
We have expanded and revised the mini-cases and added specific questions for each mini-case to guide the case analysis. Answers to the mini-cases are available to instructors on this book's website (www. mhhe.com/bm7e).
Parts 1 to 3 of the book are concerned with valua- tion and the investment decision, Parts 4 to 8 with long-term financing and risk management. Part 9 fo- cuses on financial planning and short-term financial decisions. Part 10 looks at mergers and corporate control and Part 11 concludes. We realize that many teachers will prefer a different sequence of topics. Therefore, we have ensured that the text is modular, so that topics can be introduced in a variety of orders. For example, there will be no difficulty in reading the material on financial statement analysis and short- term decisions before the chapters on valuation and capital investment.
We should mention two matters of style now to prevent confusion later. First, the most important fi- nancial terms are set out in boldface type the first time they appear; less important but useful terms are given in italics. Second, most algebraic symbols rep- resenting dollar values are shown as capital letters. Other symbols are generally lowercase letters. Thus the symbol for a dividend payment is "DIV," and the symbol for a percentage rate of return is "r."
SUPPLEMENTS
