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Informationen zum Autor H. Kent Baker , University Professor of Finance, is the author of more than 150 articles for academic and professional journals including the Journal of Finance, Financial Management, The Financial Review, Journal of Financial Research, the Journal of Economics and Business, Harvard Business Review and many others. Gary E. Powell is an Associate Professor of Finance at Towson University. Klappentext Designed for those who want to gain an understanding of the fundamental concepts and techniques used in financial management. An underlying premise of the book is that the objective of the firm is to maximize value or wealth. Drawing on a wealth of experience in the academic and professional worlds, the authors discuss how firms can accomplish this objective by making appropriate investment and financing decisions. Bridging the gap between financial theory and practice, the authors present fundamental concepts in an intuitive and nontechnical way, and provide numerous practical financial tips to readers. The focus is on current practice, using results from recent surveys to show the most popular techniques and approaches used by financial managers today. A range of instructor's resources are available at the accompanying website. Visit www.blackwellpublishing.com/baker for full details. Zusammenfassung Designed for those who want to gain an understanding of the fundamental concepts and techniques used in financial management. An underlying premise of the book is that the objective of the firm is to maximize value or wealth. Inhaltsverzeichnis List of Figures ix List of Tables xi About the Authors xiv Preface xvi Acknowledgments xx Part I The Foundation 1 Chapter 1 Introduction to Financial Management 3 1.1 Financial Management and the Financial Manager 4 1.2 Corporate Form of Business Organization 8 1.3 The Goal of Financial Management 10 1.4 Accounting Profit versus Economic Profit 12 1.5 The Agency Relationship 14 1.6 Organization of the Book 15 Chapter 2 Interpreting Financial Statements 18 2.1 Basics of Annual Reports and Financial Statements 18 2.2 Balance Sheet 20 2.3 Income Statement 25 2.4 Statement of Cash Flows 31 2.5 Statement of Retained Earnings 35 2.6 Common-size Statements 35 2.7 Notes to Financial Statements 39 2.8 Quality of Earnings 40 2.9 Other Issues 41 Chapter 3 Interpreting Financial Ratios 45 3.1 Financial Ratio Analysis 46 3.2 Liquidity Ratios 47 3.3 Debt Management Ratios 52 3.4 Asset Management Ratios 56 3.5 Profitability Ratios 61 3.6 Market Value Ratios 66 3.7 Uses of Financial Ratios 69 3.8 Limitations of Financial Ratio Analysis 70 Chapter 4 The Time Value of Money 73 4.1 Central Concepts in Finance 74 4.2 Future Value of a Present Amount 75 4.3 Present Value of a Future Amount 80 4.4 Future Value of an Annuity 83 4.5 Present Value of an Annuity 86 4.6 Present Value of a Perpetuity 91 4.7 Compounding Frequencies 91 4.8 Nominal and Effective Interest Rates 94 4.9 Solving for an Unknown Interest Rate 95 4.10 Other Time Value Applications 98 Chapter 5 Valuation 103 5.1 Valuation Fundamentals 104 5.2 Bond Characteristics and Features 110 5.3 Bond Valuation 115 5.4 Bond Pricing Relationships 121 5.5 Interest Rate Risk 126 5.6 Bond Yields 129 5.7 Bond Trading and Price Reporting 134 5.8 Preferred Stock Features and Valuation 136 5.9 Common Stock Characteristics and Features 140 5.10 Common Stock Valuation 142 Part II Working Capital Management Decisions 15...
