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Stephen A. Ross - Fundamentals of Corporate Finance

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Stephen A. Ross Fundamentals of Corporate Finance

Fundamentals of Corporate Finance: summary, description and annotation

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The best-sellingFundamentals of Corporate Finance(FCF) has three basic themes that are the central focus of the book:
1) An emphasis on intuition the authors separate and explain the principles at work on a common sense, intuitive level before launching into any specifics.
2) A unified valuation approach net present value (NPV) is treated as the basic concept underlying corporate finance.
3) A managerial focus the authors emphasize the role of the financial manager as decision maker, and they stress the need for managerial input and judgment. The Eleventh Edition continues the tradition of excellence that has earnedFundamentals of Corporate Financeits status as market leader. McGraw-Hill s adaptive learning component,LearnSmart, provides assignable modules that help students master chapter core concepts and come to class more prepared. In addition, resources withinConnecthelp students solve financial problems and apply what they ve learned. RossFundamentalsintuitive approach, managerial focus, and strong end-of-chapter content combine with a complete digital solution to help your students achieve higher outcomes in the course.

Stephen A. Ross: author's other books


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Page i
Page ii

The McGraw-Hill/Irwin Series in Finance, Insurance, and Real Estate

Stephen A. Ross

Franco Modigliani Professor of Finance and Economics
Sloan School of Management, Massachusetts Institute of Technology, Consulting Editor

Financial Management

Block, Hirt, and Danielsen
Foundations of Financial Management Fifteenth Edition

Brealey, Myers, and Allen
Principles of Corporate Finance Eleventh Edition

Brealey, Myers, and Allen
Principles of Corporate Finance, Concise Second Edition

Brealey, Myers, and Marcus
Fundamentals of Corporate Finance Eighth Edition

Brooks
FinGame Online 5.0

Bruner
Case Studies in Finance: Managing for Corporate Value Creation Seventh Edition

Cornett, Adair, and Nofsinger
Finance: Applications and Theory Third Edition

Cornett, Adair, and Nofsinger
M: Finance
Third Edition

DeMello
Cases in Finance
Second Edition

Grinblatt (editor)
Stephen A. Ross, Mentor: Infl uence through Generations

Grinblatt and Titman
Financial Markets and Corporate Strategy Second Edition

Higgins
Analysis for Financial Management
Eleventh Edition

Kellison
Theory of Interest
Third Edition

Ross, Westerfield, and Jaffe
Corporate Finance
Tenth Edition

Ross, Westerfield, Jaffe, and Jordan
Corporate Finance: Core Principles and Applications Fourth Edition

Ross, Westerfield, and Jordan
Essentials of Corporate Finance Eighth Edition

Ross, Westerfield, and Jordan
Fundamentals of Corporate Finance Eleventh Edition

Shefrin
Behavioral Corporate Finance: Decisions that Create Value
First Edition

White
Financial Analysis with an Electronic Calculator
Sixth Edition

Investments

Bodie, Kane, and Marcus
Essentials of Investments Ninth Edition

Bodie, Kane, and Marcus
Investments
Tenth Edition

Hirt and Block
Fundamentals of Investment Management
Tenth Edition

Jordan, Miller, and Dolvin
Fundamentals of Investments: Valuation and Management
Seventh Edition

Stewart, Piros, and Heisler
Running Money: Professional Portfolio Management
First Edition

Sundaram and Das
Derivatives: Principles and Practice
Second Edition

Financial Institutions and Markets

Rose and Hudgins
Bank Management and Financial Services Ninth Edition

Rose and Marquis
Financial Institutions and Markets Eleventh Edition

Saunders and Cornett
Financial Institutions Management: A Risk Management Approach
Eighth Edition

Saunders and Cornett
Financial Markets and Institutions
Sixth Edition

International Finance

Eun and Resnick
International Financial Management
Seventh Edition

Real Estate

Brueggeman and Fisher
Real Estate Finance and Investments Fourteenth Edition

Ling and Archer
Real Estate Principles: A Value Approach Fourth Edition

Financial Planning and Insurance

Allen, Melone, Rosenbloom, and Mahoney
Retirement Plans: 401(k)s, IRAs, and Other Deferred Compensation Approaches
Eleventh Edition

Altfest
Personal Financial Planning
First Edition

Harrington and Niehaus
Risk Management and Insurance
Second Edition

Kapoor, Dlabay, and Hughes
Focus on Personal Finance: An Active Approach to Help You Achieve Financial Literacy
Fifth Edition

Kapoor, Dlabay, and Hughes
Personal Finance
Eleventh Edition

Walker and Walker
Personal Finance: Building Your Future First Edition

Page iii
Fundamentals of Corporate Finance - image 1
Page iv

Fundamentals of Corporate Finance - image 2

FUNDAMENTALS OF CORPORATE FINANCE, ELEVENTH EDITION

Published by McGraw-Hill Education, 2 Penn Plaza, New York, NY 10121. Copyright 2016 by McGraw-Hill Education. All rights reserved. Printed in the United States of America. Previous editions 2013, 2010, 2008, 2006, 2003, 2000, 1998, 1995, 1993, and 1991. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of McGraw-Hill Education, including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning.

Some ancillaries, including electronic and print components, may not be available to customers outside the United States.

This book is printed on acid-free paper.

1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5

ISBN 978-0-07-786170-4
MHID 0-07-786170-1

Senior Vice President, Products & Markets: Kurt L. Strand
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Compositor: MPS Limited
Printer: R. R. Donnelley

All credits appearing on page or at the end of the book are considered to be an extension of the copyright page.

Library of Congress Cataloging-in-Publication Data

Ross, Stephen A.

Fundamentals of corporate finance / Stephen A. Ross, Massachusetts Institute of Technology, Randolph W. Westerfield, University of Southern California, Bradford D. Jordan, University of Kentucky. -- Eleventh Edition.

pages cm. -- (The McGraw-Hill/Irwin series in finance, insurance, and real estate)

Includes index.

ISBN 978-0-07-786170-4 (alk. paper)

1. Corporations--Finance. I. Westerfield, Randolph W. II. Jordan, Bradford D. III. Title.

HG4026.R677 2016

658.15--dc23

2014039303

The Internet addresses listed in the text were accurate at the time of publication. The inclusion of a website does not indicate an endorsement by the authors or McGraw-Hill Education, and McGraw-Hill Education does not guarantee the accuracy of the information presented at these sites.

www.mhhe.com

Page v

To our families and friends with love and gratitude.

S.A.R. R.W.W. B.D.J.

Page vi

About the Authors

STEPHEN A. ROSS

Sloan School of Management, Massachusetts Institute of Technology

Stephen A Ross is the Franco Modigliani Professor of Finance and Economics at - photo 3

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