Intermediate Financial Management, 12th Edition
- Writers: Eugene F. Brigham University of Florida
Phillip R. Daves University of Tennessee - Series: Finance Titles in the Brigham Family
- Pages: 1216 pages
- Publisher: South-Western College Pub; 12 edition (January 5, 2015)
- Language: English
- ISBN-10: 1285850033
- ISBN-13: 978-1285850030
Overview
The only book written specifically for Intermediate or Advanced Corporate Finance courses, Brigham/Daves’ INTERMEDIATE FINANCIAL MANAGEMENT, 12E couples in-depth discussions of core issues with current coverage of the topics that are reshaping finance today. This comprehensive, student-friendly text from trusted finance authors Gene Brigham and Phillip Daves provides a unique balance of theory and practical applications to help you understand the financial problems facing businesses--and the best solutions. The authors use corporate valuation as a unifying theme to emphasize the theoretic groundwork for value maximization and the practical skills to analyze business decisions. Real-world business examples, integrated Mini-Cases, end-of-chapter problems, and Excel® spreadsheet models illustrate how financial theory in practice leads to stronger financial decisions. In addition, the Twelfth Edition includes access to MindTap™, Cengage Learning’s fully online, highly personalized learning experience.
Features and Benefits
- UNIQUE BALANCE OF THEORY AND PRACTICE DIFFERENTIATES BOOK’S APPROACH. Using its signature clear, focused presentation, the text provides an in-depth introduction to core financial theories as well as emerging financial management issues. This comprehensive coverage provides the background material necessary for student success without sacrificing the rigor you need to equip advanced students.
- RELIABLE PRESENTATION PROVIDES TRUSTED ACCURACY. The author team’s meticulous attention to detail and time-tested content deliver a complete text and powerful package of author-driven supplements that you can trust with confidence in your intermediate or advanced course.
- PROVEN LEARNING FEATURES HIGHLIGHT PRACTICAL APPLICATIONS. Students see how today’s financial theories and trends are applied through the text’s wealth of engaging learning features, including real-world examples, practical problem sets, and integrated Mini-Cases.
Table of Contents
Part I: FUNDAMENTAL CONCEPTS.
1. An Overview of Financial Management.
Web Extension 1A: An Overview of Derivatives.
Web Extension 1B: A Closer Look at the Stock Markets.
2. Risk and Return: Part I.
Web Extension 2A: Continuous Probability Distributions.
Web Extension 2B: Estimating Beta with a Financial Calculator.
3. Risk and Return: Part II.
4. Bond Valuation.
Web Extension 4A: A Closer Look at Zero Coupon Bonds.
Web Extension 4B: A Closer Look at TIPS: Treasury Inflation-Protected Securities.
Web Extension 4C: A Closer Look at Bond Risk: Duration.
Web Extension 4D: The Pure Expectations Theory and Estimation of Forward Rates.
5. Financial Options.
6. Accounting for Financial Management.
Web Extension 6A: The Federal Income Tax System for Individuals.
7. Analysis of Financial Statements.
8. Basic Stock Valuation.
Web Extension 8A: Derivation of Valuation Equations.
Part II: CORPORATE VALUATION.
9. Financial Planning and Forecasting Financial Statements.
Web Extension 9A: Financing Feedbacks.
Web Extension 9B: Advanced Techniques for Forecasting Financial Statement Accounts.
10. Corporate Governance.
11. Determining the Cost of Capital.
Web Extension 11A: Estimating Growth Rates.
Web Extension 11B: The Cost of Equity in the Nonconstant Dividend Growth Model.
Part III: PROJECT VALUATION.
12. Capital Budgeting: Decision Criteria.
Web Extension 12A: The Accounting Rate of Return (ARR).
13. Capital Budgeting: Estimating Cash Flows and Analyzing Risk.
Web Extension 13A: Replacement Project Analysis.
Web Extension 13B: Certainty Equivalents and Risk-Adjusted Discount Rates.
14. Real Options.
Part IV: STRATEGIC FINANCING DECISIONS.
15. Distributions to Shareholders: Dividends and Repurchases.
16. Capital Structure Decisions.
Web Extension 16A: Degree of Leverage.
17. Dynamic Capital Structures and Corporate Valuation.
Web Extension 17A: Projecting Consistent Debt and Interest Expenses.
Part V: TACTICAL FINANCING DECISIONS.
18. Initial Public Offerings, Investment Banking, and Financial Restructuring.
Web Extension 18A: Rights Offerings.
19. Lease Financing.
Web Extension 19A: Percentage Cost Analysis.
Web Extension 19B: Leasing Feedback.
Web Extension 19C: Leveraged Leases.
20. Hybrid Financing: Preferred Stock, Warrants, and Convertibles.
Web Extension 20A: Calling Convertible Issues.
Part VI: WORKING CAPITAL MANAGEMENT.
21. Working Capital Management.
Web Extension 21A: Secured Short-Term Financing
22. Providing and Obtaining Credit.
23. Other Topics in Working Capital Management.
Part VII: SPECIAL TOPICS.
24. Derivatives and Risk Management.
Web Extension 24A: Risk Management With Insurance.
25. Bankruptcy, Reorganization, and Liquidation.
Web Extension 25A: Multiple Discriminant Analysis.
26. Mergers, LBOs, Divestitures, and Holding Companies.
27. Multinational Financial Management.
WEB CHAPTERS.
28. Time Value of Money.
Web Extension 28A: The Tabular Approach.
Web Extension 28B: Derivations of Annuity Formulas.
Web Extension 28C: Continuous Compounding.
29. Basic Financial Tools: A Review.
30. Pension Plan Management.
31. Financial Management in Not-for-Profit Businesses.
What's New
- Reflecting the latest trends, issues, and developments from real-world practice, INTERMEDIATE FINANCIAL MANAGEMENT, 12E has been thoroughly revised and updated to include the most current coverage available.
- The Twelfth Edition provides expanded coverage of corporate governance.
- You now have the option to include access to MindTap™, Cengage Learning’s fully online, highly customizable learning experience. Combining readings, multimedia, activities, and assessments into a singular Learning Path, MindTap™ helps you guide students through their course with ease and engagement. You can personalize the Learning Path for your students by pulling in content from the robust suite of Brigham/Daves 12e resources or by adding your own content, like videos, Website links, spreadsheets, RSS feeds and more. MindTap™ integrates seamlessly with most Learning Management Systems.
- New Cengage Learning Testing Powered by Cognero™ is a flexible, online system that allows you to author, edit, and manage test bank content from multiple Cengage Learning solutions. All question content is tagged according to Tier I (Business Program Interdisciplinary Learning Outcomes) and Tier II (Finance-specific) standards topic, Bloom’s Taxonomy, and difficulty level.
About the Author
Dr. Eugene F. Brigham is Graduate Research Professor Emeritus at the University of Florida, where he has taught since 1971. Dr. Brigham received his M.B.A. and Ph.D. from the University of California-Berkeley and his undergraduate degree from the University of North Carolina. Prior to joining the University of Florida, Dr. Brigham held teaching positions at the University of Connecticut, the University of Wisconsin, and the University of California-Los Angeles. Dr. Brigham has served as president of the Financial Management Association and has written many journal articles on the cost of capital, capital structure, and other aspects of financial management. He has authored or co-authored ten textbooks on managerial finance and managerial economics that are used at more than 1,000 universities in the United States and have been translated into 11 languages worldwide. He has testified as an expert witness in numerous electric, gas, and telephone rate cases at both federal and state levels. He has served as a consultant to many corporations and government agencies, including the Federal Reserve Board, the Federal Home Loan Bank Board, the U.S. Office of Telecommunications Policy, and the RAND Corporation. Dr. Brigham continues to teach, consult, and complete research in addition to his academic writing. He spends his spare time on the golf course, enjoying time with his family and dogs, and tackling outdoor adventure activities, such as biking through Alaska.
Dr. Phillip R. Daves is Associate Professor of Finance at the University of Tennessee in Knoxville. His research interests encompass health care finance, asset pricing, derivative securities, and dividend policy. He has published papers in THE JOURNAL OF FINANCE, THE INTERNATIONAL JOURNAL OF FINANCE, APPLIED FINANCIAL ECONOMICS, JOURNAL OF FINANCIAL PRACTICE AND EDUCATION, and THE JOURNAL OF FINANCIAL AND STRATEGIC DECISIONS. Dr. Daves' special interests in teaching include health care finance, investments, financial management, and asset pricing--which he teaches at the undergraduate, M.B.A., and Ph.D. levels. Consulting for a range of large and small companies as well as the state of Tennessee, he focuses on business valuation, compensation, value based management, and health care policy. He received his B.A. in economics from Davidson College, his M.S. in mathematics, and his Ph.D. in finance from the University of North Carolina at Chapel Hill.