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 332
... Values In our discussion of bonds in Chapter 8 , we found the value of a bond as the present value of interest payments over the life of the bond plus the present value of the bond's maturity ( or par ) value : VB = INT + INT ( 1 + ka ) ...
... Values In our discussion of bonds in Chapter 8 , we found the value of a bond as the present value of interest payments over the life of the bond plus the present value of the bond's maturity ( or par ) value : VB = INT + INT ( 1 + ka ) ...
Page 336
... Present Values of Dividends of a Constant Growth Stock : = Do $ 1.15 , g = 8 % , k , = 13.4 % Dividend ( $ ) 1.15 PV ... value of each future dividend is declining . For example , the dividend in Year 1 is D1 = Do ( 1 + g ) 1 = $ 1.15 ( 1.08 ) ...
... Present Values of Dividends of a Constant Growth Stock : = Do $ 1.15 , g = 8 % , k , = 13.4 % Dividend ( $ ) 1.15 PV ... value of each future dividend is declining . For example , the dividend in Year 1 is D1 = Do ( 1 + g ) 1 = $ 1.15 ( 1.08 ) ...
Page 449
... value , and that , in turn , can be determined by estimating the net present value of a set of cash flows . However , as you will see in the next chapter , the hardest part is coming up with reasonable estimates of those cash flows ...
... value , and that , in turn , can be determined by estimating the net present value of a set of cash flows . However , as you will see in the next chapter , the hardest part is coming up with reasonable estimates of those cash flows ...
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