Financial Management: Principles & Practice

In FINANCIAL MANAGEMENT, 3rd Edition, students get the best of both worlds with coverage that is comprehensive in tackling the difficult issues in finance, yet accessible enough for students to understand. The authors remain dedicated to putting students first by including the latest in financial theory while retaining a strong real-world connection, making learning both relevant and fun. New to This Edition: The Stock and Bond Valuation chapter, previously Chapter 9, has been moved to Chapter 12, and is now titled Business Valuation to reflect the rapidly advancing field of business appraisal. Techniques for valuing complete businesses and individual assets have been added. A numerical example of a real-world business has also been included, along with a discussion of the value of control. Expanded coverage of Real Options. This discussion has been expanded into two chapters (Chapters 10 & 11) and includes numerical examples relating to abandonment and expansion options. Decision trees are also described, and homework problems relating to real options have been added to the end-of-chapter material. Interactive Modules have been integrated throughout the book. These modules allow