Foundations of Finance, Global Edition (10^th Ed.)

For undergraduate corporate finance courses.
The five key principles for the foundations of finance
Foundations of Finance retains its foundational approach to the key concepts of finance, bolstered by real-world vignettes, cases, and problem exercises. Utilising five principles, which are presented at the beginning of the book and applied throughout, the authors introduce a multi-step approach to financial problem solving that appeals to students? (at all levels) math and numerical skills. As with previous editions, the 10th Edition, Global Edition focuses on valuation and opens every chapter with a vignette based on financial decisions faced by contemporary, real-world companies and firms. Revised and updated, the text features new lecture videos, financial thinking, user feedback, and changes inspired by the passage of the Tax Cuts and Jobs Act of 2017 in the United States of America, so students are well equipped to effectively deal with financial problems in an ever-changing financial environment.

Comprehensive coverage of financial concepts

• Revised - Extensive updates have been made to the material in response to the continued development of financial thought, reviewer comments, and passage of the Tax Cuts and Jobs Act of 2017 in the United States of America. They include (but are not limited to):
  • recent developments in the financial markets;
  • new tax laws and their implications; and
  • changes to interest and exchange rates.
• Five principles, presented at the beginning of the book, provide students with a strong foundation of the key concepts in finance so they’re able to apply such principles outside of class to real-life situations.
  • Principle 1: Cash Flow Is What Matters
  • Principle 2: Money Has a Time Value
  • Principle 3: Risk Requires a Reward
  • Principle 4: Market Prices are Generally Right
  • Principle 5: Conflicts of Interest Can Cause Agency Problems
• A focus on valuation. Although many professors and instructors make valuation the central theme of their course, students often lose sight of this focus when reading their text. Foundations of Finance makes this key theme prominent in its discussions and examples.
• New - Streamlined presentation of chapter topics , such as the process used to evaluate a firm’s financial performance, or the discussion of cash management, makes it easier for students to review and retain the material.

Real-world context of corporate finance principles for students

• Revised and Updated - Real-World Chapter-Opening Vignettes tell a story about a current, real-world company faced with a financial decision related to the chapter material, such as Disney’s decision to build the Shanghai Disney Resort. These vignettes have been carefully prepared to stimulate student interes