Corporate Finance: A Systematic Approach

This textbook takes on a systematic approach to elaborating on the different subjects within corporate finance. The chapters bring together existing concepts with examples and stories that allow students to easily understand and apply financial tools. In doing so, the book strives to clarify misconceptions in the literature on topics related to firm's ownership and control, problems of the Modigliani-Miller first and second propositions, relationship between options and corporate finance, behavioral finance versus corporate finance, etc.

The book takes into consideration the growing importance of the Asian economy and financial markets in recent years, and constructs the P-index to measure and compare the risk structures of US and China's stocks and stock indexes.

This book is a primary text written for the introductory courses in corporate finance at the M.B.A. level and for the intermediate courses in undergraduate programs, but can also be of great use to Ph.D. students as well as professionals.

Utilizes anecdotes and examples to break down complex concepts in an easily understandable manner Elaborates on new findings in corporate finance and provides clarifications on misconceptions in the extant literature Serves as an excellent guide on corporate finance for students as well as professionals

Autorentext

Kuo-Ping Chang is a professor of Finance and Economics at the Jinhe Center for Economic Research of Xi'an Jiaotong University (Xi'an) and honorable emeritus professor at Tsing Hua University (Hsinchu). He received his Ph.D. degree in Economics & Finance from University of Pennsylvania. Dr. Chang has been teaching microeconomics, mathematical economics, and mathematical finance in both economics and finance departments for many years. He has published various papers in leading journals of management science, economics, and finance regarding productivity/efficiency analysis, regulatory economics, and quantitative finance.

Inhalt
Introduction.- Basic Concepts of Valuation.- The Ownership and Objectives of the Firm.- Financial Statements and Financial Ratios.- Opportunity Cost and Investment Criteria.- Internal Rate of Return, Profitability Index and Payback Period Methods.- Risk and Return.- Capital Structure in a Perfect Market.- Derivatives and Corporate Finance.- Behavioral Finance and Efficient Markets.- Capital Structure in an Imperfect Market.- Payout Policy.- Merges and Acquisitions.- Corporate Governance.