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1 of 1 people found the following review helpful
4.0 out of 5 stars updating a classic
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...
Published on 5 Nov 2009 by braveheartengr

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1 of 2 people found the following review helpful
2.0 out of 5 stars 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. It's all about the Net Present Value Rule which in itself is fine, but the concept is so simple that it hardly requires several chapters of explanations. Yet there are no real life examples (the...
Published on 10 Jun 2010 by N. Dulcic


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1 of 1 people found the following review helpful
4.0 out of 5 stars updating a classic, 5 Nov 2009
This review is from: Principles of Corporate Finance with S&P bind-in card (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.
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14 of 18 people found the following review helpful
4.0 out of 5 stars Comprehensive, 30 Sep 2008
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This review is from: Principles of Corporate Finance with S&P bind-in card (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!
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4.0 out of 5 stars Very good condition and indeed 'used like new', 4 Nov 2012
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This review is from: Principles of Corporate Finance with S&P bind-in card (Paperback)
the condition of the book is actually as desrcibed, 'used like new' and with few scratches on the cover. However, it was advertised that is comes with an S&P bind-in card which I didnt receive it. Nonetheless it is value for money so I would recommend this seller.
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5.0 out of 5 stars Exellent service, 18 Oct 2011
This review is from: Principles of Corporate Finance with S&P bind-in card (Paperback)
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 books.
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5.0 out of 5 stars Essential reading, 25 May 2011
This review is from: Principles of Corporate Finance with S&P bind-in card (Paperback)
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 of corporations that surrounds us. Clearly a must read for any student but also very useful to job training and still a reference for practicing financial managers.
I strongly recommend it to anyone who is willing to build a sound basic knowledge of corporate finance.
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4.0 out of 5 stars quite suitable for undergraduates and postgraduates, 7 Nov 2010
This review is from: Principles of Corporate Finance with S&P bind-in card (Paperback)
Principles means principles. Basic concepts in corporate finance are being taught sometimes relished with mathematical derivations but not too much. This book is very suitable for undergraduates and partially for postgrads. Many references to real-life case studies, many self-study exercises and many links to useful websites -not bad at all.
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1 of 2 people found the following review helpful
2.0 out of 5 stars Not very useful in real life, 10 Jun 2010
By 
N. Dulcic - See all my reviews
(REAL NAME)   
This review is from: Principles of Corporate Finance with S&P bind-in card (Paperback)
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. It's all about the Net Present Value Rule which in itself is fine, but the concept is so simple that it hardly requires several chapters of explanations. Yet there are no real life examples (the ones that are given are simplified to the point of being useless). This book is fine for someone that has no background in finance, but by no means is it master level stuff. Also insisting on perfect markets is quite outdated since everyone in the industry can tell you that it's a joke (Goldman has made a profit in every single day of the first quarter, hardly random and we're talking hundreds of millions - per day).
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1 of 2 people found the following review helpful
2.0 out of 5 stars First ten chapters are difficult to follow if you're a beginner, 25 May 2010
This review is from: Principles of Corporate Finance with S&P bind-in card (Paperback)
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. What's also annoying is that the actually useful questions for you to practice require you to pay an additional fee to have access to answers.
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0 of 1 people found the following review helpful
5.0 out of 5 stars excellent condition, 9 Nov 2011
This review is from: Principles of Corporate Finance with S&P bind-in card (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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0 of 1 people found the following review helpful
5.0 out of 5 stars 75% out of 100%, 7 Nov 2011
This review is from: Principles of Corporate Finance with S&P bind-in card (Paperback)
I guess it was ok. There were quite a few words missing, but the definitions inside this book is easy to understand
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Principles of Corporate Finance with S&P bind-in card
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