財(cái)務(wù)管理基礎(chǔ)（英文版·第10版）

     CONTENTS
   PREFACE XIII
    PART I
   INTRODUCTION TO FlNANCIAL MANAGEMENT
   CHAPTER 1
    THE ROLE OF FlNANCIAL MANAGEMENT
    Introduction
    What Is Financial Management?
    The Goal of the Firm
    Organization of the Financiai Management
    Function
    Organization of the Book
    Summary
    Questiona
    Selected References
   CHAPTER 2
    THE BUSINESS, TAX, AND FlNANCIAL ENVIRUNMENTS
    The Business Environment
    The Tax Environment
    The Financial Environment
    Summary
    Questions
    Self-Correction Problems
    Problems
    Sahitions to Self-Correction Problems
    Selected References
    PART II
    VALUATION
   CHAPTER 3
    TBE TlME VALUE OF MONEY
    The Interest Rate
    Simple Interest
    Compound Interest
    Compounding More Than Once a Year
    Amortizing a Loan
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 4
    FHE VALUATION OF LONG-TERM SECURMES
    DIStinctions Among Valuation Cocepts
    Bond Valuation
    Preferred Stock Valuation
    Common Stock Valuation
    Rates of Return (or Yields)
    Summary Table of Key Present Value Formulas
    for Valuing Long-Term Securtties
    Summary
    Questions
    Self-Correction Pmblems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 5
    RlSK AND RETURN
    Defining Risk and Retum
    Using Probability Distributions
    to Measure Risk
    Attitudes Toward Risk
    Risk and Retum in a Portfolio Context
    Diversification
    The Capital-Asset Pricing Model
    Summary
    Appendix A: Measuring Portfolio Risk
    Appendix B: Arbitrage Pricing Theory
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
    PART III
    TOOLS OF FINANCIAL ANALYSIS AND PLANNING
   CHAPTER 6
    FlNANClAL STATENT ANALYSIS
    Finandal Statements
    A Possible Framework for Analysis
    Balance Sheet Ratios
    Income Statement and Income
    Statement/Balance Sheet Ratios
    Trend Analysis
    Common-Size and Index Analysis
    Summary
    Summary of Key Ratios
    Appendix: Deferred Taxes and Financial
    Analysis
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 7
    FUNDS ANALYSIS, CASH-FLOW ANALYSIS
    AND FlNANCIAL PLANNING
    Flow of Funds (Sources and Uses)
    Statement
    Accounting Statement of Cash Flows
    Cash-Flow Forecashng
    Range of Cash-Flow Estimates
    Forccasting Finandal Statements
    Summary
    Appendix: Sustainable Growth
    Modeling
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
    PART IV
    WORKING CAPITAL MANAGEMENT
   CHAPTER 8
    OVERVIEW OF WORKING CAPITAL MANAGEMENT
    Introductior
    Working Capital Issues
    Finandng Current Assets: Short-Term
    and Long-Term Mix
    Combining Liability Structure
    and Current Asset Decisions
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 9
    CASH AND MARKETABLE SECURITIES MANAGEMENT
    Motives for Holding Cash
    Speeding Up Cash Receipts
    S-l-o-w-i-n-g D-o-w-n Cash Payouts
    Electronic Commerce
    Outsourcing
    Cash Balances to Maintain
    Investment in Marketable Securities
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 10
    ACCOUNTS RECEIVABLE AND INVENTORY
    MANAGEMENT
    Credit and Collection Policies
    Analyzing the Credit Applicant
    Inventory Management and Control
    Summary
    Questions
    Self-Correction Problems :
    Problems
    Solutions to Self-Correction Problems :
    Selected References
   CHAPTER 11
    SHORT-TERM FlNANCING
    Spontaneous Financing
    Negotiated Financing
    Factoring Accounts Receivable
    Composition of Short-Term Financing
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
    PART V
    INVESTMENT IN CAPITAL ASSETS
   CHAPTER 12
    CAPITAL BUDGETING AND ESTIMATING CASH FLOWS
    The Capital Budgeting Process:
    An Overview
    Generating Investment Project Proposals
    Estimating Project "After-Tax Incremental
    Operating Cash Flows"
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 13
    CAPnAL BUDGETING TECHNIQUES
    Project Evaluation and Selection:
    Altemative Methods
    Potential Difficulties
    Project Monitoring: Progress Reviews
    and Post-Completion Audits
    Summary
    Appendix A: Multiple Intemal Rates
    of Retum
    Appendix B: Replacement Chain
    Analysis
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 14
    RlSK AND MANAGERIAL OPTIONS
    IN CAPITAL BUDGETING
    The Problem of Project Risk
    Total Project Risk
    Contribution to Total Firm Risk:
    Firm-Portfolio Approach
    Managerial Options
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
    PARTVI
    THE COST OF CAPITAL, CAPITAL STRUCTURE
    AND DIVIDEND POLICY
   CHAPTER 15
    REQUIRED RETURNS AND THE COST OF CAPITAL
    Creation of Value
    Overall Cost of Capital of the Firm
    The CAPM: Project-Specific and Group-Specific
    Required Rates of Return
    Evaluation of Projects on the Basis
    of Their Total Risk
    Summary
    Appendix A: Adjushng the Beta
    for Financial Leverage
    Appendix B: Adjusted Present Value
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 16
    OPERATING AND FlNANCIAL LEVERAGE
    Operating Leverage
    Financial Leverage
    Total Leverage
    Cash-Flow Ability to Service Debt
    Other Methods of Analysis
    Combination of Methods
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 17
    CAPITAL STRUCTURE DETERMINATION
    A Conceptual Look
    The Total-Value Principle
    Presence of Market Imperfections
    and Incentive Issues
    The Effect of Taxes
    Taxes and Market Imperfections Combined
    Financial Signaling
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 18
    DlVIDEND POLICY
    Passive versus Active Dividend Policy
    Factors Influencing Dividend Policy
    Dividend Stability
    Stock Dividends and Stock Splits
    Stock Repurchase
    Administrative Considerations
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
    PART VII
    INTERMEDIATE AND LONG-TERM FINANCING
   CHAPTER 19
    THE CAPITAL MARKET
    Deja Vu All Over Again
    Public Issue
    Privileged Subscription
    Regulation of Security Offerings
    Private Placement
    Initial Financing
    Signaling Effects
    The Secondary Market
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 20
    LONG-TERM DEBT, PREFERRED STOCK
    AND COMMON STOCK
    Bonds and Their Features
    Types of Long-Term Debt Instruments
    Retirement of Bonds
    Preferred Stock and Its Features
    Common Stock and Its Features
    Rights to Common Shareholders
    Dual-Class Common Stock
    Summary
    Appendix: Refunding a Bond Issue
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 21
    TERM LOANS AND LEASES
    Term Loans
    Provisions of Loan Agreements
    Equipment Financing
    Lease Financing
    Evaluating Lease Financing in Relation
    to Debt Financing
    Summary
    Appendix: Accounting Treatment
    of Leases
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
    PART VIII
    SPECIAL AREAS OF FINANCIAL MANAGEMENT
   CHAPTER 22
    CONVERTIBLES, EXCHANGEABLES, AND WARRANTS 586
    Convertible Security Features
    Use of Convertibles
    Value of Convertible Securities
    Exchangeable Bonds
    Warrants
    Summary
    Appendix: Option Pricing
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 23
    MERGERS AND OTHER FORMS
    OF CORPORATE RESTRUCTURING
    Sources of Value
    Strategic Acquisitions Involving
    Common Stock
    Acquisitions and Capital Budgeting
    Closing the Deal
    Takeovers Tender Offers, and Defenses
    Strategic Alliances
    Divestiture
    Ownership Restructurirtg
    Leveraged Buyouts
    Summary
    Appendix: Remedies
    for a Failing Company
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   CHAPTER 24
    INTERNATIONAL FlNANCIAL MANAGEMENT
    Some Background
    Types of Exchange-Rate Risk Exposure
    Management of Exchange-Rate Risk
    Exposure
    Structuring Intemational Trade
    Transactions
    Summary
    Questions
    Self-Correction Problems
    Problems
    Solutions to Self-Correction Problems
    Selected References
   APPENOIX
    Table 1: Future value interest factor
    Table 11: Present value interest factor
    Table III: Future value interest factor of an
    (ordinary) annuity
    Table IV: Present value interest factor of an
    (ordinary) annuity
    Table V: Area of normal distribution that is Z
    standard deviations to the left or right
    of the mean
   GLOSSARY
   INDEX
    COMMONLY USEO SYMBOLS