Richard Brealey – författare

Brealey: Principles of Corporate Finance bridges the gap between financial theory and practical application for corporate finance. It emphasizes the importance of understanding financial theory to adapt to non-routine situations and evolving market conditions. By explaining why companies and financial markets behave as they do, the book equips managers with the tools to make informed decisions, not just based on experience but backed by theory. The authors address controversies within financial theory, offering balanced viewpoints while emphasizing practical applications to increase company value.

Brealey, Principles of Corporate Finance, 13e, describes the theory and practice of corporate finance. We hardly need to explain why financial managers have to master the practical aspects of their job, but we should spell out why down-to-earth managers need to bother with theory. Throughout this book, we show how managers use financial theory to solve practical problems. Much of this book is concerned with understanding what financial managers do and why. But we also say what financial managers should do to increase company value.Some of the biggest changes in this edition were prompted by the tax changes enacted in the U.S. Tax Cuts and Jobs Act passed in December 2017.  In the current edition, we have also continued to augment the international content as well as a number of chapters that have been thoroughly rewritten. For example, the material on agency issues in Chapter 12 has been substantially revised. Chapter 13 on market efficiency and behavioral finance is now fresher and more up to date. Chapter 23 on credit risk focuses more on the practical issues of forecasting default probabilities.

Brealey’s Fundamentals of Corporate Finance introduces students to the core principles of financial management through a clear, consistent framework. The text explores how companies invest in assets, raise capital, and create value, while providing a broad view of today’s financial landscape. Organized around the key concepts of modern finance, it simplifies complex ideas and demonstrates their practicaluse in real-world decision-making. Students learn not just the theory, but how to apply financial tools to the critical choices faced by managers and individuals alike.

Throughout Principles of Corporate Finance, Concise the authors show how managers use financial theory to solve practical problems and as a way of learning how to respond to change by showing not just how but why companies and management act as they do. The first ten chapters mirror the Principles text, covering the time value of money, the valuation of bonds and stocks, and practical capital budgeting decisions. The remaining chapters discuss market efficiency, payout policy, and capital structure, option valuation, and financial planning and analysis.

The text is modular, so that Parts can be introduced in an alternative order.