Financial Management: Theory and PracticeContinuing the four goals from the first edition, i.e. helping students to make good financial decisions, providing a solid text for the introductory MBA course, motivating students by demonstrating finance is relevant and interesting, and presenting the material clearly, this Tenth Edition promises to be the best yet. Written by a highly-acclaimed, best selling, author team, this text remains the only MBA-level text to present a balance of financial theory and applications. |
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Page 585
... leverage , the greater the firm's business risk . To what extent can firms control their operating leverage ? To a large extent , operat- ing leverage is determined by technology . Electric utilities , telephone companies , air- lines ...
... leverage , the greater the firm's business risk . To what extent can firms control their operating leverage ? To a large extent , operat- ing leverage is determined by technology . Electric utilities , telephone companies , air- lines ...
Page 603
... leverage , the graph makes it clear that the risk of low , or even negative , EPS is also higher if debt is used . Figure 15-8 thus shows that using leverage involves a risk / return trade - off - higher leverage increases expected ...
... leverage , the graph makes it clear that the risk of low , or even negative , EPS is also higher if debt is used . Figure 15-8 thus shows that using leverage involves a risk / return trade - off - higher leverage increases expected ...
Page 635
... leverage are perfect substi- tutes . However , an individual investing in a levered firm has less loss exposure as a result of corporate limited liability than if he or she used " homemade " leverage . For example , in our earlier ...
... leverage are perfect substi- tutes . However , an individual investing in a levered firm has less loss exposure as a result of corporate limited liability than if he or she used " homemade " leverage . For example , in our earlier ...
Contents
CHAPTER | 1 |
AN OVERVIEW OF FINANCIAL MANAGEMENT | 3 |
CHAPTER | 17 |
Copyright | |
49 other sections not shown
Common terms and phrases
12 percent after-tax analysis annual annuity assume average balance sheet bank beta beta coefficient bonds capital budgeting capital gains capital structure CAPM Chapter common equity common stock company's corporate cost of capital cost of equity coupon decision depreciation discussed dividend policy dollar EBIT effect Equation estimate example expected rate expected return financial calculator Financial Management firm firm's fixed assets flotation costs forecast free cash flow funds future growth rate higher income increase inflation interest rates inventory investment investors issue lease leverage loan long-term market risk market value maturity MicroDrive MicroDrive's million NOPAT Note operating payments payout portfolio preferred stock present value problem profit rate of return ratio required rate retained earnings risk premium risk-free rate risky securities SELF-TEST QUESTIONS sell share shareholders short-term stock price stockholders tax rate WACC yield yield to maturity zero