Foundations of Finance: The Logic and Practice of Financial Management (Prentice Hall Finance Series)

From the Back Cover Unique in its approach; this text provides students with an intuitive, conceptual understanding of the financial decision-making process, rather than just introducing them to soon-forgotten formulas and calculations of finance. And, by focusing an concept interrelationships, it explores the "big picture" and actual practice—that is, financial decision making rooted in current financial theory and in the current state of world economic conditions. Throughout, Foundations of Finance eliminates non-essential material and keeps mathematics to a minimum. It presents material at a level accessible to non-finance majors but has the strong theoretical foundation necessary for more specialized students. Some of what's new to this edition... NEW—Excel spreadsheets integrated into problems at the end of appropriate chapters. Gives students a contemporary tool for time value of money calculations, dealing with valuation of financial assets, and evaluating capital budgeting projects. NEW—Chapter 10, Cash Flows and Other Topics in Capital Budgeting, was heavily revised using a more intuitive approach. In addition, a new section on Options in Capital Budgeting was added. NEW—Thoroughly revised Chapter 2 on Financial Markets and Interest Rates reflects the impact of the economic downturn and Federal Monetary Policy on risk and return, cost of capital, corporate financing. The chapter also discusses the significant differences between nominal and real interest rates. NEW—Part-opening interviews with business professionals include a consultant who explains how a manager of any area within a firm should think about finance, and a business valuation expert who talks about the importance of an operating manager understanding what determines firm value. Gives students-in-the-trenches insights into the application of theory to practice in the real world. Provides perspective far anyone who is planning a career in business. And at the same time makes learning more interesting. NEW—Current coverage weaves "Enron Lessons" boxes throughout appropriate chapters; includes a box on the impact of September 11th on corporate finance; and discusses the impact of the 2002 Economic Stimulus Package. For more NEW information... check inside! Great study aids also available with Keown, Foundations of Finance, 4th ed. FinCoach 2.0 or FinCoach 2.0 Lite—math practice software. Mastering Finance—students participate in financial decision making through video presentations and interactive quizzes. EVA Training Tutor Express—CD-ROM developed by Stern Stewart & Co. teaches business and financial literacy using the latest interactive and multimedia techniques. Helps students to understand the basics of value-based thinking and management. Product description About the Author Arthur J. Keown is the R. B. Pamplin Professor of Finance at Virginia Polytechnic Institute and State University. He received his bachelor's degree from Ohio Wesleyan University, his M.B.A. from the University of Michigan, and his doctorate from Indiana University. An award-winning teacher, he is a member of the Academy of Teaching Excellence, has received five Certificates of Teaching Excellence at Virginia Tech, the W E. Wine Award for Teaching Excellence, the Alumni Teaching Excellence Award, and in 1999 received the Outstanding Faculty Award from the State of Virginia. Professor Keown is widely published in academic journals. His work has appeared in The Journal of Finance, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, The Journal of Financial Research, the Journal of Banking and Finance, Financial Management, the Journal of Portfolio Management, and many others. In addition to Foundations of Finance, two other of his books are widely used in college finance classes all over the country—Basic Financial Management and Personal Finance: Turning Money into Wealth. Professor Keown is a Fellow of the Decision Sciences Institute, a member of