While presenting corporate finance as the working out of a small number of interrelated and powerful intuitions, the book also introduces students to key concepts such as arbitrage pricing, market efficiency, agency theory, options and the trade off between risk and return. With a balance of theory and practical applications, the eleventh edition features many exciting new research findings, including those concerning financial crises, and an enhanced Connect Finance, with even more student learning materials.
Connect is an interactive learning platform that allows users to access a wide range of instructional resources including video, audio, images, documents, and assessments. Students can take advantage of the integrated digital tools to create a customized learning experience that meets their needs.
The late Stephen A Ross was the Franco Modigili Professor of Finance and Economics, MIT Sloan School of Management. One of the most well-published authors in finance and economics; Professor Ross was known for developing the Arbitrage Pricing Model as well as his substantial contribution to the discipline through his extensive research into signaling, agency theory, options pricing, and the theory the term structure of interest rate. Past president of the American Finance Society, he also served as associate editor of various academic journals. He was a member of the board of trustees of Caltech.
Jeffrey F. Jaffee has written extensively about financial markets, including his studies of insider trading. In addition, he has published papers on the economics of utility regulation, the pricing of stock options, the behavior of marketmakers, and the effects of monetary policy on stock prices. His best known study was an examination of the profitability of corporate insiders, who had previously been thought to earn abnormally high returns from their trades.
Randolph W. Westerfeld is dean emeritus and the Charles B Thornton professor in finance at the University of Southern california's Marshall school of business. He came to USC from the wharton school, university of pennsylvania, where he was the chair of the finance dept and a member of the finance faculty for twenty years. He is a memer of the board of trustees oaktree capital mutual funds. His areas o expertise include corporate financial policy investment management and stock market price behavior
Bradford Jordan is visiting scholar in the warrington college of business at the university of florida. He previously held the dupont endued chair in banking and financial services at the university of kentucky, where he was department head for many years. Professor jordan has published numerous articles in the top journals on issues such s cost of capital capital structure and the behavior of securities prices. He is a former presiden of the southern finance association and he is coauthor fundametns of investments valuation and management 9e a leading investments text also publised by mcgraw hill.
I needed this textbook for my MBA finance course and initially rented it. Although I regretted that decision later, because this book is a great companion to have after you graduate and start forgetting some of the finer points. It's very well-written, easy to follow, and doesn't require any background in differential equations to grasp the topics and their applications. I especially liked how the authors presented the concepts of risk and returns by first examining individual securities before moving on to a larger portfolio. They could have easily done a chapter on Modern Portfolio Theory and just talked about the Markowitz bullet, but instead they took a crawl-walk-run approach and made this important material a lot easier to digest. They also take a similar approach throughout, and just do an excellent job of presenting things in an accessible way. I'm certainly not normally one to get overly excited about textbooks, but I really enjoyed this one. Don't rent it, just purchase it. Study, understand, and apply the contents and you'll have yourself a pretty nice ROI!
The biggest problem I've found with this textbook is that the author assumes a certain level of competence on the part of the reader. For example, he defines "dividend yield" without ever defining what dividend yield means. He also assumes that his readers know how to value stocks (which they may not). And he includes a chapter on derivatives trading, which is probably beyond the scope of any introductory finance class.
I am a big fan of this textbook. While I find that the ebooks are very useful, I think that having the physical copy (and the ability to mark things) is important. That said, I really enjoyed reading through this text. It was easy to read and I feel like I learned quite a lot. I found the explanations of concepts to be pretty good, although they could have been better in places. Overall, I give this book 4 stars out of 5.
This is a bad book. Instead of clearly telling formulas and what each input means, the book focuses on a single example problem without any real explanations. The tests, quizzes, and assignments did not match the book and I had to purchase additional study materials to understand what was happening in the book. I would not recommend this book at any cost.
This book does an excellent job of explaining the material contained within it. However, when solving problems at the end of every chapter, there appears to be certain ones where the steps needed to complete them aren't covered at all, and instead require the use of Google. I understand concepts building upon each other (such as one problem having multiple steps requiring the use materials covered in previous chapters), however for some steps the material was completely absent from the book and required me to find it online. If your class also utilizes the associated Connect for homework etc., then the sections of text it states the material is derived from is only correct about 50% of the time.
I have a bachelor's degree in accounting and a minor degree in economics. I'm currently enrolled in an online MBA program. I've read a number of business and financial books through the course of my schooling. This one was definitely the worst written book I've encountered. The writing style is so choppy and disjointed that it's hard to follow along. The writing style reminds me of a severely mauled walrus struggling to free itself from quicksand; it's just too painful to watch!