With the same contemporary approach and dynamic examples that made previous editions so popular, this fully revised Fourteenth Edition of FUNDAMENTALS OF FINANCIAL MANAGEMENT continues to provide students with a focused understanding of today's corporate finance and financial management. This market-leading text offers a unique balance of clear concepts, contemporary theory, and practical applications in order to help students understand the concepts and reasons behind corporate budgeting, financing, working capital decision making, forecasting, valuation, and Time Value of Money (TVM). Offering the most cutting-edge coverage available, the Fourteenth Edition includes discussions of the federal debt, the ongoing recovery of financial markets, and the European debt crisis. Numerous practical examples, "Quick Questions", Blueprint Problems, problem-solving tutorials, and Integrated Cases demonstrate theory in action. A comprehensive support package--prepared by the text authors--connects closely with the book to reduce preparation time and reinforce students understanding.
- Updated Excel models align with each topic and include in-text graphics to show how problems can be solved using Excel.
- Quick Questions embedded in key chapters guide students through solving relevant problems step by step.
- Expanded real-world examples help bridge theory and practice, including discussions on hedge funds, private equity, and corporate financial metrics.
- Focused Self-Test Problems appear after major sections to help students check their understanding before moving on.
- Comprehensive, author-written supplements ensure consistency and include an Instructor’s Manual, Student Study Guide, Test Bank, and digital resources.
- The text maintains a unique balance of theory and practice, using real-world examples, problem sets, and mini-cases to engage students.
- Integrated Spreadsheet Models accompany nearly every chapter and teach students how to use Excel effectively for financial problem-solving.
- The Fourteenth Edition is fully updated with discussions on federal debt, financial market recovery, and the European debt crisis.
- New “Taking A Closer Look” online research exercises allow students to apply chapter concepts using real-world financial data.
- Financial analysis examples feature real companies like Whole Foods, Berkshire Hathaway, and Tesla Motors.
Part I: INTRODUCTION TO FINANCIAL MANAGEMENT.
1. An Overview of Financial Management.
2. Financial Markets and Institutions.
Part II: FUNDAMENTAL CONCEPTS IN FINANCIAL MANAGEMENT.
3. Financial Statements, Cash Flow, and Taxes.
4. Analysis of Financial Statements.
5. Time Value of Money.
Part III: FINANCIAL ASSETS.
6. Interest Rates.
7. Bonds and Their Valuation.
8. Risk and Rates of Return.
9. Stocks and Their Valuation.
Part IV: INVESTING IN LONG-TERM ASSETS: CAPITAL BUDGETING.
10. The Cost of Capital.
11. The Basics of Capital Budgeting.
12. Cash Flow Estimation and Risk Analysis.
13. Real Options and Other Topics in Capital Budgeting.
Part V: CAPITAL STRUCTURE AND DIVIDEND POLICY.
14. Capital Structure and Leverage.
15. Distributions to Shareholders: Dividends and Share Repurchases.
Part VI: WORKING CAPITAL MANAGEMENT, FORECASTING, AND MULTINATIONAL FINANCIAL MANAGEMENT.
16. Working Capital Management.
17. Financial Planning and Forecasting.
Part VII: Special Topics in Financial Management.
18. Derivatives and Risk Management.
19. Multinational Financial Management.
20. Hybrid Financing: Preferred Stock, Leasing, Warrants, and Convertibles.
21. Mergers and Acquisitions.
Eugene F. Brigham, University of Florida
Dr. Eugene F. Brigham is graduate research professor emeritus at the University of Florida, where he has taught since 1971. He received his M.B.A. and Ph.D. from the University of California-Berkeley and his undergraduate degree from the University of North Carolina.
Joel F. Houston, University of Florida
Dr. Joel F. Houston is the Eugene F. Brigham Professor of Finance at the University of Florida.
