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. |
From inside the book
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Page 21
... Managers A potential agency problem arises whenever the manager of a firm owns less than 100 percent of the firm's common stock . If the firm is a proprietorship managed by its owner , the owner - manager will presumably operate so as ...
... Managers A potential agency problem arises whenever the manager of a firm owns less than 100 percent of the firm's common stock . If the firm is a proprietorship managed by its owner , the owner - manager will presumably operate so as ...
Page 22
... manager agency conflicts . At one extreme , if a firm's managers were compensated solely on the basis of stock price changes , agency costs would be low because managers would have a great deal of incentive to maximize shareholder ...
... manager agency conflicts . At one extreme , if a firm's managers were compensated solely on the basis of stock price changes , agency costs would be low because managers would have a great deal of incentive to maximize shareholder ...
Page 1059
... managers within each cate- gory to invest solely within that category . The new approach , which turns over a chunk of the fund to a few broad - based managers with global reach , will reduce the time spent by GTE's staff in choosing ...
... managers within each cate- gory to invest solely within that category . The new approach , which turns over a chunk of the fund to a few broad - based managers with global reach , will reduce the time spent by GTE's staff in choosing ...
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