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Financial Markets And Corporate Strategy
该书由公司金融界的两位牛人M Grinblatt和S Titman合著，The McGraw−Hill出版社2002年出版，英文PDF完全版892页，完全物超所值！
以下是ROSS写的Foreword：
After an introduction to corporate finance, students
generally experience the subject as fragmenting into
a variety of specialized areas, such as investments,
derivatives markets, and fixed income, to name a
few. What is often overlooked is the opportunity to
introduce these topics as integral components of corporate
finance and corporate decision making. Before
now, it was difficult to convey this important
connection between corporate finance and financial
markets. By doing just that, this book simultaneously
serves as a basis of and a practical reference
for all further study and experience in financial management.
The central corporate financial questions address
which projects to accept and how to finance them.
This text recognizes that to provide a framework to
answer these questions, along with the associated issues
of corporate finance and corporate strategy that
they raise, requires a deep understanding of the financial
markets. The book begins by describing the
financing instruments available to the firm and how
they are priced. It then develops the logic, the models,
and the intuitions of modern financial decision
making from portfolio theory through options and
on to tax effects. The treatment focuses on project
evaluation and the uses of capital and financial
structure, and it is enriched with a wealth of real
world examples. The questions raised by managerial
incentives and differences in the information held by
management and the financial markets are also taken
up in detail, supplementing the familiar treatment of
the tradeoffs between taxes and bankruptcy costs.
Lastly, and wholly appropriately, financial decision
making is shown to be an essential part of the overall
challenge of risk management.
Integrating capital structure and corporate financial
decisions with corporate strategy has been a
central area of research in finance and economics for
the last two decades, and it has clearly changed the
way we think about these matters. What is remarkable
about this book is that it can take this relatively
new material and so comfortably and seamlessly
knit it together with more traditional approaches to
give the reader such a clear understanding of corporate
finance. Anyone who wants to probe more
deeply into financial decision making and understand
its relation to corporate strategy should read
this text. Nor is this a book that will gather dust
when the course is over; it will become part of every
reader’s tool kit and they will turn back to it often. I
know that I will.
Stephen A. Ross
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