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Financial Management: Theory and Practice, 4th Edition |

Eugene F. Brigham, Michael C. Ehrhardt, Jerome Gessaroli, Richard R. Nason

  • {{checkPublicationMessage('Published', '2022-04-11T00:00:00+0000')}}
Starting At $77.95 See pricing and ISBN options
Financial Management: Theory and Practice 4th Edition by Eugene F. Brigham/Michael C. Ehrhardt/Jerome Gessaroli/Richard R. Nason

Overview

Financial Management: Theory and Practice, Fourth Canadian Edition, delivers a blend of financial theory with practical application, providing students with the information they need for a foundational introductory finance course while also showcasing the interesting and relevant side of finance to engage and motivate students. This product is structured around valuation and cash flows to enhance continuity and helps students make connections among the various topics presented as they move throughout the content. They will be taught how to increase the value of a firm through engaging, real-world content, including background on the economic financial environment, financial statements, the time value of money, financial forecasting, risk analysis, stock valuation and more. This edition has been extensively updated with more visual content, improved reading flow and clarified material. Financial Management, 4CE, is designed for the introductory finance course but will become a well-enjoyed reference guide long after graduation.

Eugene F. Brigham

Dr. Eugene F. Brigham is a graduate research professor emeritus at the University of Florida, where he has taught since 1971. He received his M.B.A. and Ph.D. from the University of California-Berkeley and his undergraduate degree from the University of North Carolina. Prior to joining the University of Florida, Dr. Brigham held teaching positions at the University of Connecticut, the University of Wisconsin and the University of California-Los Angeles. A former president of the Financial Management Association, he has written many journal articles on the cost of capital, capital structure and other aspects of financial management. He has authored or co-authored 10 textbooks on managerial finance and managerial economics that are used at more than 1,000 universities in the United States and have been translated into 11 languages worldwide. In addition to his academic writing, Dr. Brigham continues to teach, consult and complete research. He has served as a consultant to many corporations and government agencies, including the Federal Reserve Board, the Federal Home Loan Bank Board, the U.S. Office of Telecommunications Policy and the RAND Corp. He has also testified as an expert witness in numerous electric, gas and telephone rate cases at both federal and state levels. Dr. Brigham spends his spare time on the golf course, enjoying time with his family and dogs and tackling outdoor adventure activities, such as biking through Alaska.

Michael C. Ehrhardt

Dr. Michael C. Ehrhardt is a professor emeritus at the University of Tennessee. He received a B.S. in civil engineering and a B.A. in economics at Swarthmore College. After earning an M.S. in industrial management from the Georgia Institute of Technology, he worked several years as an engineer. He returned to Georgia Tech and graduated with an M.S. in operations research and Ph.D. in finance. Dr. Ehrhardt has taught extensively at the undergraduate, master's and doctoral levels in the areas of investments, corporate finance and capital markets. He has directed and served on numerous dissertation committees. Dr. Ehrhardt consults in the areas of corporate valuation, value-based compensation plans and the cost of capital. His honors include the Allen G. Keally Outstanding Teacher Award, the Tennessee Organization of M.B.A. Students Outstanding Faculty Award, the College of Business Administration Research & Teaching Award and the John B. Ross Outstanding Teaching Award in the College of Business. An author and co-author of several leading books addressing various areas of finance, Dr. Ehrhardt’s interests include corporate valuation and asset pricing models, including pricing models for interest-rate sensitive instruments. His work has been published in numerous journals, including The Journal of Finance, Journal of Financial and Quantitative Analysis, Financial Management, The Financial Review, The Journal of Financial Research and The Journal of Banking and Finance.

Jerome Gessaroli

Mr. Gessaroli is an instructor at the British Columbia Institute of Technology’s School of Business, where he teaches courses in corporate finance, security analysis, working capital management, and advanced finance. He was also a visiting lecturer at Simon Fraser University’s Beedie School of Business, teaching finance in their undergraduate and Executive MBA programs. Mr. Gessaroli has an MBA from the Sauder School of Business at the University of British Columbia. Prior to teaching, he worked in the securities industry, first trading equities and options, and later in corporate finance. Mr. Gessaroli also has international business experience, having worked for one of Canada’s largest industrial R&D companies developing overseas business opportunities in London, China, Hong Kong, Singapore, and India. He has written for the MacDonald-Laurier Institute, given interviews for newspapers, and served on the board of directors for an industry development association.

Richard R. Nason

Dr. Nason is an associate professor of finance at Dalhousie University in Halifax, Nova Scotia, where he teaches corporate finance, enterprise risk management, investments, and derivatives. He has been awarded several teaching awards, including several Professor of the Year awards. His research interests are in risk management, complexity, and financial education. Dr. Nason has an M.Sc. in Physics from the University of Pittsburgh and an M.B.A. and Ph.D. in Finance from Ivey Business School at Western University. He is also a Chartered Financial Analyst charter holder. Dr. Nason has an extensive background in the finance industry. His experience includes structuring derivatives and exotics at Citigroup, starting and heading the credit derivatives business for Bank of Montreal, and being head of training for the Global Markets Group at Bank of America. He is a founding partner of Derivatives Training Inc., a risk management and complexity consultancy that specializes in financial risk management for financial institutions and corporations, as well as advanced training seminars on derivatives, financial mathematics, and applications of complexity for business. He is the author of six other books on risk management and complexity, including “It’s Not Complicated: The Art and Science of Complexity in Business,” which is published by University of Toronto Press.
  • Discussion throughout the product that LIBOR will likely be replaced with Secured Overnight Funding Rate (SOFR).
  • Extensively expanded glossary, with terms clickable throughout the e-reader version of the text.
  • New material on the Accelerated Investment Incentive that was introduced a couple of years ago.
  • 29 new end-of-chapter problems have been added across the entire product.
  • This new edition has a full suite of instructor resources that have been developed in line with the Cengage Canada Teaching Advantage program. The CCTA delivers research-based instructor resources that promote student engagement and higher-order thinking to enable the success of Canadian students and educators. With a focus on quality, all of our resources are copyedited, and questions are reviewed to ensure the content is accurate and relevant to the new edition.
  • A new section on SPACs and Reverse Takeovers has been added.
  • The revised IFRS 16 rules of leasing have been accounted for.
  • Material on risk management, specifically COSO, has been expanded.
  • The information on exchange rates uses the ISO notation standard.
  • The currency pair method for exchange rate quotes is discussed.
  • Corporate Valuation Emphasis: a corporate valuation framework is located near the beginning of each chapter, highlighting specific parts of the model relevant to that chapter.​
  • This product provides a practical application of theory by providing students with brief discussions on how theory fits with reality, helping the reader make better sense of the content.
  • Extensive Excel integration is included through illustrations, examples, formulas and end-of-chapter problems. The reader will have the opportunity to work with finance problems in a practical manner.
  • This Canadian edition reflects Canadian institutions, laws, financial markets and tax rules.
  • Additional content for specialized topics will be accessible as chapter Web Extensions (PDF files) at login.cengage.com or via MindTap.
Preface

Part One: Fundamental Concepts
Chapter 1: An Overview of Financial Management and the Financial Environment
Chapter 2: Financial Statements, Cash Flow, and Taxes
Chapter 3: Analysis of Financial Statements
Chapter 4: Time Value of Money
Chapter 5: Financial Planning and Forecasting Financial Statements

Part Two: Securities and Their Valuation
Chapter 6: Bonds, Bond Valuation, and Interest Rates
Chapter 7: Risk, Return, and the Capital Asset Pricing Model
Chapter 8: Stocks, Stock Valuation, and Stock Market Equilibrium

Part Three: Projects and Their Valuation
Chapter 9: The Cost of Capital
Chapter 10: The Basics of Capital Budgeting: Evaluating Cash Flows
Chapter 11: Cash Flow Estimation and Risk Analysis

Part Four: Financing Activities
Chapter 12: Capital Structure Decisions
Chapter 13: Distributions to Shareholders: Dividends and Repurchases
Chapter 14: Public and Private Financing: Initial Offerings, Seasoned Offerings, and Investment Banks
Chapter 15: Lease Financing
Chapter 16: Capital Market Financing: Hybrid and Other Securities
Chapter 17: Working Capital Management and Short-Term Financing
Chapter 18: Current Asset Management

Part Five: Derivative Techniques
Chapter 19: Financial Options and Applications in Corporate Finance
Chapter 20: Enterprise Risk Management

Part Six: Special Topics
Chapter 21: International Financial Management
Chapter 22: Corporate Valuation and Governance
Chapter 23: Mergers, Acquisitions, and Restructuring

Web Chapter 24: Decision Trees, Real Options, and Other Capital Budgeting Techniques

Appendixes
Appendix A: Solutions to Concept Review Problems
Appendix B: Answers to Selected End-of-Chapter Problems
Appendix C: Values of the Areas Under the Standard Normal Distribution Function

Glossary
Name Index
Subject Index​
MindTap
Each MindTap product offers the full, mobile-ready textbook combined with superior and proven learning tools at one affordable price. Students who purchase digital access can add a print option at any time when a print option is available for their course.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

Standalone Digital Access — Ultimate Value

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  • ISBN-10: 0176929533
  • ISBN-13: 9780176929534
  • RETAIL $99.95

Textbook Only Options

Traditional eBook and Print Options

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  • ISBN-10: 1774747405
  • ISBN-13: 9781774747407
  • RETAIL $77.95

  • ISBN-10: 0176929509
  • ISBN-13: 9780176929503
  • RETAIL $172.95

  • ISBN-10: 1778410669
  • ISBN-13: 9781778410666
  • RETAIL $192.95

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

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ISBN: 9780176929534