Corporate Finance, 4e

David Hillier is Professor of Finance at the University of Strathclyde, teaches regularly in development programs for executives and has taught courses for a wide variety of professional clients, including the World Bank and the National Health Service in the UK. It is part of the editorial board of several international journals of finance.



Stephen A. Ross was the Franco Modigliani Professor of Financial Economics at the Sloan School of Management, Massachusetts Institute of Technology. One of the most widely published authors in finance and economics. Professor Ross is recognized for his work in developing the arbitrage pricing theory, along with his substantial contributions to the discipline through his research in signaling, agency theory, option pricing, and the theory of the term structure of interest rates, among other topics. A past president of the American Finance Association, he also served as an associate editor of several academic and practitioner journals, and was a trustee of CalTech.



Randolph W. Westerfield is Dean Emeritus of the University of Southern Californias Marshall School of Business and is the Charles B. Thornton Professor of Finance Emeritus. Professor Westerfield came to USC from the Wharton School, University of Pennsylvania, where he was the chairman of the finance department and member of the finance faculty for 20 years. He is a member of the Board of Trustees of Oaktree Capital Mutual Funds. His areas of expertise include corporate financial policy, investment management, and stock market price behavior.



Jeffrey F. Jaffe has been a frequent contributor to finance and economic literature in such journals as the quarterly economic journal, the journal of finance, the journal of financial and quantitative analysis, the journal of financial economics, and the financial analysts journal. His best-known work concerns insider trading, where he showed both that corporate insiders earn abnormal profits from their trades and that regulation has little effect on these profits. He has also made contributions concerning initial public offerings, the regulation of utilities, the behavior of market makers, the fluctuation of gold prices, the theoretical effect of inflation on the interest rate, the empirical effect of inflation on capital asset prices, the relationship between small-capitalization stocks and the January effect, and the capital structure decision.



Bradford D. Jordan is Visiting Scholar at the University of Florida. He previously held the duPont Endowed Chair in Banking and Financial Services at the University of Kentucky, where he was department chair for many years. He specializes in corporate finance and securities valuation. He has published numerous articles in leading finance journals, and he has received a variety of research awards, including the Fama/DFA Award in 2010.Dr. Jordan is coauthor of Corporate Finance 13e, Corporate Finance: Core Principles and Applic...

part i: overview
1 Introduction to Corporate Finance
2 Corporate Governance
Part II: Value and Capital Budgeting
3 Financial Statement Analysis 
4 Discounted Cash Flow Valuation
5. How to Value Bonds and Stocks
Appendices Online
6 Net Present Value and Other Investment Rules
7 Making Capital Investment Decisions
8 Risk Analysis, Real Options, and Capital Budgeting


part iii: risk
9 Risk and Return: Lessons from Market History
10 Risk and Return: The Capital Asset-Pricing Model
11 Factor Models and the Arbitrage Pricing Theory
12 Risk, Cost of Capital, and Capital Budgeting
13 Efficient Capital Markets and Behavioural Finance


part iv: long-term financing
14 Long Term Financing: An Introduction
15 Equity Financing
16 Debt Financing
17 Leasing


part v: capital structure and dividend policy
18 Capital Structure: Basic Concepts
19: Capital Structure: limits to the use of debt
20: Valuation and Capital Budgeting for the Levered Firm
21: Dividends and Other Payouts
part vi: options, futures, and corporate finance
22 Options and Corporate Finance
23 Options and Corporate Finance: Extensions and Applications
24 Warrants and Convertibles
25 Financial Risk Management with Derivatives


part vii: financial planning and short term finance
26 Short Term Finance and Planning
27 Short Term Capital Management


part viii: special topics
28 Mergers and Acquisitions
29 Financial Distress
30 International Corporate Finance