- Paperback
- Publisher: McGraw-Hill Higher Education; 9 edition (1 Nov 2007)
- Language English
- ISBN-10: 0071266755
- ISBN-13: 978-0071266758
- Product Dimensions: 25.4 x 20 x 3.6 cm
- Average Customer Review: 4.2 out of 5 stars See all reviews (13 customer reviews)
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Amazon Bestsellers Rank:
52,574 in Books (See Top 100 in Books)
- #7 in Books > Business, Finance & Law > Professional Finance > Corporate
- #10 in Books > Study Books > Professional > Business & Management > Banking & Finance
- See Complete Table of Contents
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Product Description
Product Description
Principles of Corporate Finance is the worldwide leading text that describes the theory and practice of corporate finance. Throughout the book the authors show how managers use financial theory to solve practical problems and as a way of learning how to respond to change by showing not just how but why companies and management act as they do. The text is comprehensive, authoritative, and modern and yet the material is presented at a common sense level. The discussions and illustrations are unique due to the depth of detail blended with a distinct sense of humor for which the book is well known and highly regarded. This text is a valued reference for thousands of practicing financial managers.
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Customer Reviews
Most Helpful Customer Reviews
1 of 1 people found the following review helpful
Format:Paperback
It was sold as a "classic" text when I bought the 2nd Ed as a student in 1984. Now I'm a lecturer and so decided to get an up-to-date edition (9th). Oh dear.. 'Bal' is spot-on with his critique and it's such a pity the publishers haven't done a better editing job. It's not a classic anymore because the publishers (probably more culpable than the authors?) missed the chance to make this, post Credit-Crunch (if there is a 'post-') a truly international student text. I have added others to my students' Reading List as a result. However, despite these faults, it's still a really good intro' to so many aspects of Finance and Funding that it stays at the top of my recommended reading to Masters degree students.
13 of 17 people found the following review helpful
Format:Paperback
I just read the book - cover to cover. It is very comprehensive and readable however I have a few gripes:
1. It reads like a book that has "evolved" and is somewhat "lumpy". Some bits are bang up-to-date - others are not; some bits are international some are very US domestic focussed; some bits are amazingly simple (does anyone not know what a direct debit is?) others are highly complex (efficient frontiers and linear programming).
2. The authors should acknowledge that not all CFOs are female and to use "she" in place of "he" whenever they refer to senior decision-makers in fictional companies is both unnecessary and patronising. Feminists will tell you, you've got this wrong - you could easily have used more neutral language (instead of he or she use "they" for example).
3. "Forecasted" is a very clumsy word (on almost every page) - doesn't everyone just say "forecast"?
4. Text refers to "blue lines" on the graphs which are always "black lines" - by the 9th edition you'd think you could have sorted that out!
More technically specific gripes:
1. I believe there are occasions when it makes sense to exercise American options early if you can't short the stock (eg US government has just banned short selling in financial stocks).
2. p649 high yield spreads declined as investors "scurried to the safe haven of high-quality debt" - forgive me but I for one can't work that out!
3. p 788 IOSC is the wrong acronmy for IOSCO (typo?).
4. Swaps are poorly explained. They derived from the arbitrages between international bond markets - which explains how they are structured.
5. The book refers only to the interest calculation basis of actual/360 which is only used in US. It is confusing to only mention this basis and not go on to refer to 30/360 (bond basis) or actual/365 as used in most international markets. In fact, there is a whole section on cash amangement that needs to be reviewed, in my opinion, to make it international and fit with the rest of the book.
Overall, I think it is a good textbook and sound primer - but someone needs a re-edit to freshen it up. The good news is that the Credit Cruch provides that opportunity to take a fresh look at the whole thing and highlight liquidity issues!
1. It reads like a book that has "evolved" and is somewhat "lumpy". Some bits are bang up-to-date - others are not; some bits are international some are very US domestic focussed; some bits are amazingly simple (does anyone not know what a direct debit is?) others are highly complex (efficient frontiers and linear programming).
2. The authors should acknowledge that not all CFOs are female and to use "she" in place of "he" whenever they refer to senior decision-makers in fictional companies is both unnecessary and patronising. Feminists will tell you, you've got this wrong - you could easily have used more neutral language (instead of he or she use "they" for example).
3. "Forecasted" is a very clumsy word (on almost every page) - doesn't everyone just say "forecast"?
4. Text refers to "blue lines" on the graphs which are always "black lines" - by the 9th edition you'd think you could have sorted that out!
More technically specific gripes:
1. I believe there are occasions when it makes sense to exercise American options early if you can't short the stock (eg US government has just banned short selling in financial stocks).
2. p649 high yield spreads declined as investors "scurried to the safe haven of high-quality debt" - forgive me but I for one can't work that out!
3. p 788 IOSC is the wrong acronmy for IOSCO (typo?).
4. Swaps are poorly explained. They derived from the arbitrages between international bond markets - which explains how they are structured.
5. The book refers only to the interest calculation basis of actual/360 which is only used in US. It is confusing to only mention this basis and not go on to refer to 30/360 (bond basis) or actual/365 as used in most international markets. In fact, there is a whole section on cash amangement that needs to be reviewed, in my opinion, to make it international and fit with the rest of the book.
Overall, I think it is a good textbook and sound primer - but someone needs a re-edit to freshen it up. The good news is that the Credit Cruch provides that opportunity to take a fresh look at the whole thing and highlight liquidity issues!
Format:Paperback
Book is like new. Really excellent condition and rapid delivery. The book itself isn't light reading but starts at first principals and explains corporate finance in detail.
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Most Recent Customer Reviews
75% out of 100%
I guess it was ok. There were quite a few words missing, but the definitions inside this book is easy to understand
Published 7 months ago by xSojix
Exellent service
The condition of the book was like a new book and delivery took no more than two days. The bind in Mcgraw Hill S n P card has a working id which works online unlike most used... Read more
Published 7 months ago by Shujja
Essential reading
This book is about the basic concepts and methods of corporate finance. Written in a language which can be understood by everyone, it is a very helpful book to understand the world... Read more
Published 12 months ago by Tedy
quite suitable for undergraduates and postgraduates
Principles means principles. Basic concepts in corporate finance are being taught sometimes relished with mathematical derivations but not too much. Read more
Published 19 months ago by andre
best ever
Am so satisfied with the product in fact it has no mark of being used at all. thanks for your attention to customers
Published 22 months ago by edielly
Not very useful in real life
I've been working in the mutual fund industry for the past 4 1/2 years and I found this book to be pretty disappointing. It was suggested as pre-course reading for my MSc Finance. Read more
Published 24 months ago by N. Dulcic
First ten chapters are difficult to follow if you're a beginner
This book is very difficult to read, particularly the first ten chapters or so. If you're starting out in finance it isn't a good place to start. Read more
Published on 25 May 2010 by Dr. S. O. Bottino Boavida
Really good purchuase
I do recommend this book for all finance and business students. Very informative and clear.
Published on 7 Nov 2009 by Greg the Gorgeous
l am glad to have this book from amazon
the book was new when i bought it. it delivered to me just in 3 days. it is also so helpful book, content is great.
this is like my head book when i do my studying. Read more
this is like my head book when i do my studying. Read more
Published on 31 Aug 2009 by Ms. Zeynep Sagir
Great value for money, explains investing decisions both for...
Very good book and a lot of value for money! The authors did a very good job in explaining complicated things in an easy to understand way. Read more
Published on 16 July 2009 by W. Creemers
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