Fundamentals of Corporate Finance – Stephen Ross – 8th Edition


Fundamentals of Corporate Finance continues on its tradition of excellence that has earned it its status as a market leader. The rapid and extensive changes in financial markets and instruments, has placed new burdens on the teaching of Corporate Finance in Canada. As a result, every chapter has been updated to provide the most current examples that reflect Corporate Finance in today’s world. Our text is written with one strongly held principle that Corporate Finance should be developed and taught in terms of a few integrated powerful ideas – Emphasis on Intuition, Unified Valuation Approach and Managerial Emphasis.

An Emphasis on Intuition. We are always careful to separate and explain the principles at work on an intuitive level before launching into any specifics. The underlying ideas are discussed first in very general terms and then by way of examples that illustrate in more concrete terms how a financial manager might proceed in a given situation.

A Unified Valuation Approach. We treat net present value (NPV) as the basic concept underlying corporate finance. Many texts stop well short of consistently integrating this important principle. The most basic notion?that NPV represents the excess of market value over cost?tends to get lost in an overly mechanical approach to NPV that emphasizes computation at the expense of understanding. Every concept covered is firmly rooted in valuation, and care is taken throughout the text to explain how particular decisions have valuation effects.

These three themes work together to provide a sound foundation, and a practical and workable understanding of how to evaluate and make financial decisions.

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  • PART 1- Overview of Corporate Finance
    1 Introduction to Corporate Finance
    2 Financial Statements, Taxes, and Cash Flow

    PART 2- Financial Statements and Long-Term Financial Planning
    3 Working with Financial Statements
    4 Long-Term Financial Planning and Corporate Growth

    PART 3- Valuation of Future Cash Flows
    5 Introduction to Valuation: The Time Value of Money
    6 Discounted Cash Flow Valuation
    7 Interest Rates and Bond Valuation
    8 Stock Valuation

    PART 4- Capital Budgeting
    9 Net Present Value and Other Investment Criteria
    10 Making Capital Investment Decisions
    11 Project Analysis and Evaluation

    PART 5- Risk and Return
    12 Lessons from Capital Market History
    13 Return, Risk, and the Security Market Line

    PART 6- Cost of Capital and Long-Term Financial Policy
    14 Cost of Capital
    15 Raising Capital
    16 Financial Leverage and Capital Structure Policy
    17 Dividends and Dividend Policy

    PART 7- Short-Term Financial Planning and Management
    18 Short-Term Finance and Planning
    19 Cash and Liquidity Management
    20 Credit and Inventory Management

    PART 8- Topics in Corporate Finance
    21 International Corporate Finance
    22 Leasing
    23 Mergers and Acquisitions

    PART 9- Derivative Securities and Corporate Finance
    24 Risk Management: An Introduction to Financial Engineering
    25 Options and Corporate Securities
    26 Behavioral Finance
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