PART ONE VALUE 1(150)

Finance and the Financial Manager 3(12)

Present Value and the Opportunity Cost of Capital 15(20)

How to Calculate Present Values 35(26)

The Value of Common Stocks 61(32)

Why Net Present Value Leads to Better Investment Decisions than Other Criteria 93(28)

Making Investment Decisions with the Net Present Value Rule 121(30)
PART TWO RISK 151(106)

Introduction to Risk, Return, and the Opportunity Cost of Capital 153(34)

Risk and Return 187(34)

Capital Budgeting and Risk 221(36)
PART THREE PRACTICAL PROBLEMS IN CAPITAL BUDGETING 257(92)

A Project is not a Black Box 259(32)

Where Positive Net Present Values Come From 291(24)

Making Sure Managers Maximize NPV 315(34)
PART FOUR FINANCING DECISIONS AND MARKET EFFICIENCY 349(88)

Corporate Financing and the Six Lessons of Market Efficiency 351(32)

An Overview of Corporate Financing 383(22)

How Corporations Issue Securities 405(32)
PART FIVE DIVIDEND POLICY AND CAPITAL STRUCTURE 437(144)

The Dividend Controversy 439(34)

Does Debt Policy Matter? 473(26)

How Much Should a Firm Borrow? 499(42)

Financing and Valuation 541(40)
PART SIX OPTIONS 581(86)

Spotting and Valuing Options 583(36)

Real Options 619(26)

Warrants and Convertibles 645(22)
PART SEVEN DEBT FINANCING 667(92)

Valuing Debt 669(40)

The Many Different Kinds of Debt 709(26)

Leasing 735(24)
PART EIGHT RISK MANAGEMENT 759(60)

Managing Risk 760(30)

Managing International Risks 790(29)
PART NINE FINANCIAL PLANNING AND SHORT-TERM FINANCIAL MANAGEMENT 819(120)

Financial Analysis and Planning 820(35)

Short-Term Financial Planning 855(24)

Credit Management 879(20)

Cash Management 899(18)

Short-Term Lending and Borrowing 917(22)
PART TEN MERGERS, CORPORATE CONTROL, AND GOVERNANCE 939(66)

Mergers 940(36)

Control, Governance, and Financial Architecture 976(29)
PART ELEVEN CONCLUSIONS 1005

Conclusion: What We Do and Do Not Know About Finance 1006