Paul Asquith - Lessons in Corporate Finance: A Case Studies Approach to Financial Tools, Financial Policies, and Valuation

1. Chapter 2
2. Chapter 3
3. Chapter 4
4. Chapter 5
5. Chapter 6
6. Chapter 7
7. Chapter 8
8. Chapter 9
9. Chapter 10
10. Chapter 11
11. Chapter 13
12. Chapter 15
13. Chapter 16
14. Chapter 17
15. Chapter 18
16. Chapter 19
17. Chapter 20
18. Chapter 21

1. Chapter 1
2. Chapter 5
3. Chapter 6
4. Chapter 7
5. Chapter 12
6. Chapter 13

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SECOND EDITION

PAUL ASQUITH

LAWRENCE A. WEISS

Copyright 2019 by Paul Asquith and Lawrence A. Weiss. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Names: Asquith, Paul, 1948 author. | Weiss, Lawrence A. (Lawrence Alan), author.

Title: Lessons in corporate finance : a case studies approach to financial tools, financial policies, and valuation / Paul Asquith, Lawrence A. Weiss.

Description: Second edition. | Hoboken : Wiley, 2019. | Series: Wiley finance | Includes index. | Revised edition of the authors' Lessons in corporate finance, [2016] |

Identifiers: LCCN 2019000078 (print) | LCCN 2019001680 (ebook) | ISBN 9781119537939 (ePDF) | ISBN 9781119537892 (ePub) | ISBN 9781119537830 (hardback)

Subjects: LCSH: CorporationsFinance. | Valuation. | BISAC: BUSINESS & ECONOMICS / Corporate Finance.

Classification: LCC HG4026 (ebook) | LCC HG4026 .A87 2019 (print) | DDC 658.15dc23

LC record available at https://lccn.loc.gov/2019000078

Cover Design: Wiley

Cover Image: wonry/Getty Images

To those who taught me.

Paul

For Marilyn, my wife and best friend; Joshua; and Daniel; all of whom I will love forever.

Larry

Paul Asquith is the Gordon Y. Billard Professor of Finance at MIT's Sloan School, where he has been on the faculty for 30 years and is also a Research Associate of the National Bureau of Economic Research.

At the Sloan School, he served as Senior Associate Dean and as Chairman of Sloan's Building Committee. He teaches in the finance area, most recently Introduction to Corporate Finance. Professor Asquith has also developed and taught three other courses at MIT: Advanced Corporate Finance, Mergers and Acquisitions, and Security Design. He previously taught at Harvard University for 10 years, at the University of Chicago, and at Duke University. He is the recipient of 14 Teaching Excellence Awards from MIT, Harvard, and Duke. He is also the inaugural recipient of MIT's Jamieson Prize for Excellence in Teaching.

Professor Asquith received his BS from Michigan State University and his AM and PhD from the University of Chicago. A member of the American Accounting Association, the American Finance Association, and the Financial Management Association, Professor Asquith was regularly a discussant at financial conferences. In 1985, he spent one semester at Salomon Brothers while on sabbatical from Harvard University. Professor Asquith was formerly a Director of Aurora National Life Assurance Company. He has advised many corporations including Citicorp, IBM, Merck, Morgan Guaranty, Price Waterhouse, Royal Bank of Canada, Salomon Brothers, Toronto Dominion Bank, and Xerox, and has also served as an expert witness in both Federal Court and the Delaware Chancery Court.

Current research interests include regulated transparency in capital markets. His published articles include Original Issue High Yield Bonds: Aging Analyses of Defaults, Exchanges, and Calls, which won the 1989 Journal of Finance's Smith-Breeden award, and Information Content of Equity Analyst Reports in the Journal of Financial Economics, as well as several articles on corporate mergers, corporate dividend policy, the timing of corporate equity issues, stock splits, corporate call policy for convertible debt, and short sales in debt and equity markets. Professor Asquith was previously Associate Editor of the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, and Financial Management. He was also director of the Financial Services Research Center at MIT.