Request for consultation

Thanks for your request. You’ll soon be chatting with a consultant to get the answers you need.
Your form is submitting...
{{formPostErrorMessage.message}} [{{formPostErrorMessage.code}}]
Email Address is required. 'Email Address' must contain at least 0 characters 'Email Address' cannot exceed 0 characters Please enter a valid Email Address
First Name is required. 'First Name' must contain at least 0 characters 'First Name' cannot exceed 0 characters Please enter a valid First Name
Last Name is required. 'Last Name' must contain at least 0 characters 'Last Name' cannot exceed 0 characters Please enter a valid Last Name
Institution is required.
Discipline is required.
Cengage, at your service! How can we best meet your needs? is required.
Why are you contacting us today? is required. 'Why are you contacting us today?' must contain at least 0 characters 'Why are you contacting us today?' cannot exceed 0 characters Please enter a valid Why are you contacting us today?

Financial Management: Theory and Practice, 3rd Edition |

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

  • {{checkPublicationMessage('Published', '2016-01-18T00:00:00+0000')}}
Starting At $77.95 See pricing and ISBN options
Financial Management: Theory and Practice 3rd Edition by Eugene F. Brigham/Michael C. Ehrhardt/Jerome Gessaroli/Richard R. Nason

Overview

The third Canadian edition of Brigham’s Financial Management: Theory and Practice delivers solid financial theory and practical applications, preparing students for future careers in business and finance in an engaging manner that makes the content come alive. This resource emphasizes the actions that a manager should take to increase the value of the firm. Structuring the book around valuation and cash flows enhances continuity and helps students see how topics relate to one another. The hallmark of this resource is “The Corporate Valuation Framework”, a pedagogical feature presented early in each chapter. By highlighting specific parts of the framework, the model explicitly shows how each chapter relates to corporate valuation.

The book begins with fundamental concepts, including background on the economic and financial environment, financial statements (with an emphasis on cash flows), the time value of money, financial forecasting, bond valuation, risk analysis, and stock valuation. With this background, students then learn specific techniques and decision rules that can be used to help maximize the value of the firm.

MindTap raises the bar with multimedia, Concept Clips and Aplia problem sets: providing the ideal solution for keeping students on track and prepared for tests and exams. Highly customizable, instructors can add RSS feeds, YouTube videos, Google docs and more to further increase student engagement and achieve deeper learning.

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.
  • MindTap raises the bar with multimedia, Concept Clips and Aplia problem sets: the ideal solution for keeping students on track and prepared for tests and exams. Highly customizable, instructors can add RSS feeds, YouTube videos, Google docs and more to further increase student engagement and achieve deeper learning.
  • Increased visual representations throughout the text, including graphs and figures help students understand challenging concepts.
  • Instructors now have access to a “Web Extension” on the Monte Carlo Simulation. “Web Extensions” are chapter appendices that provide more detailed coverage of topics addressed in the chapter, as downloadable PDF files, and are designed just like the text chapters. See the Table of Contents for a full listing of Web extensions.
  • New vignettes ensure that examples are current and interesting to students. Examples include: Payday lenders (Chapter 4), how Apple distributes cash to shareholders (Chapter 13), Crowdfunding to Raise Capital (Chapter 14), and Blackberry’s decision to use convertible debenture financing (Chapter 16).
  • New topics include: Fisher Separation Theorem, Behavioural Finance and the COSO framework for enterprise risk management.
  • Chapter 20: Derivatives and Risk Management (previously Chapter 21) has been substantially revised to focus on enterprise risk management with applications of derivatives as a tool in managing risk.
  • The hallmark of this resource is the Corporate Valuation Framework, a pedagogical feature that is presented early in each chapter. These diagrams make it clear how the chapter’s materials relate to the corporate valuation model. They do so by highlighting the specific parts of the model that are relevant to the chapter. This illustrative framework is a simple yet powerful learning tool.
  • Substantial Excel Integration: The application of finance requires extensive use of Excel. Brigham has taken the integration of teaching finance and Excel to a new level. Illustrations, examples, and formulas are developed using Excel, and point-by-point explanations are provided for using Excel to model the various concepts. End-of-chapter Excel problems provide opportunities to work with finance problems in a much more practical manner than by simply using a calculator. Further information on Excel integration is described later on in the “Excel Tool Kits” and “Build a Model” sections.
  • Excel Tool Kits: Excel Tool Kits enhance student proficiency with spreadsheets. Created for each chapter (except Chapter 1), these models include explanations and screen shots that show students how to use many of the features and functions of Excel. We have integrated the models into the text so that many figures and tables in the textbook are drawn right from the Excel model, including the Excel row and column headings so that students can see exactly how the problem is worked in Excel. The Tool Kits are available on the textbook’s website.
  • Canadian Content: Brigham has been thoroughly adapted for the Canadian market by carefully reviewing the Canadian coverage in every chapter. Three criteria are used for updating the text with Canadian content: (1) Canadian institutions, laws, financial markets, and tax rules are fully reflected in the text. (2) Given the importance of the U.S. markets and institutions to Canada, especially in the area of finance, discussions of key U.S. financial markets and research findings are kept in place where appropriate, along with illustrations. (3) Details with little relevance to Canada, and those of a tertiary nature, have been deleted to maintain focus and clarity.
  • Corporate Ethics: With corporate ethics and governance issues making headlines, we have provided a discussion of ethical abuses throughout the book. In Chapter 22: “Corporate Valuation and Governance” we specifically address corporate governance and the actions that both firms and government bodies can take to minimize such events in the future.
  • The 2007–2009 Credit Crisis: Coverage of the credit crisis is delivered in a straightforward and accessible manner, including discussion of the financial instruments the popular press often refers to – as well as the implications of the crisis for the broader economy. This issue is covered in Chapter 16: “Capital Market Financing: Hybrid and Other Securities.” In a number of other chapters, specific elements of the financial crisis are included as they relate directly to the chapter’s topic.
  • Textbook “Web Extensions”: instructors have access to 27 additional specialized topics that are important but not essential for every introductory finance course. Identical in formatting and layout to the text itself and delivered in Adobe PDF files on the textbook’s website, these features provide instructors with the flexibility to customize their courses and provide robust coverage without making the actual textbook too large or cumbersome.
  • Practical Application of Theory: As happens in most academic disciplines, theory is not always consistent with real life. Brigham provides students with brief discussions (such as “Capital Structure Theory: Our View” in Chapter 12, and “Current Status of the CAPM” in Chapter 7) on how the theory fits with reality. Common errors that students may make when applying financial theory or tools are also covered.
Part 1: Fundamental Concepts
Chapter 1: An Overview of Financial Management and the Financial Environment
Chapter 2: Financial Statements, Cash Flow, and Taes
Chapter 3: Analysis of Financial Statements
Chapter 4: Time Value of Money
Chapter 5: Financial Planning and Forecasting Financial Statements
Part 2: 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 3: 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 4: Financing Activities
Chapter 12: Capital Structure Decisions
Chapter 13: Distributions to Shareholders: Dividends and Repurchases
Chapter 14: Initial Public Offerings, Investment Banking, and Financial Restructuring
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 5: Derivative Techniques
Chapter 19: Financial Options and Applications in Corporate Finance
Chapter 20: Enterprise Risk Management
Part 6: 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 Topics
Appendix A: Answers to End-of-Chapter Problems
Appendix B: Selected Equations and Data
Appendix C: Values of the Areas under the Standard Normal Distribution Function
Glossary
Name Index
Subject Index
Web Appendix: Solutions to Concept Review Problems
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

Recommended and most popular

  • ISBN-10: 0176596623
  • ISBN-13: 9780176596620
  • RETAIL $99.95

  • ISBN-10: 0176596631
  • ISBN-13: 9780176596637
  • RETAIL $99.95

Textbook Only Options

Traditional eBook and Print Options

{{collapseContainerClosed['detail_0'] ? 'Show More' : 'Show Less'}}

  • ISBN-10: 177474676X
  • ISBN-13: 9781774746769
  • RETAIL $77.95

  • ISBN-10: 017658305X
  • ISBN-13: 9780176583057
  • RETAIL $194.95

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.

FOR INSTRUCTORS

MindTap Instant Access (12 Months/Multi Term) for Financial Management: Theory and Practice

ISBN: 9780176596637

FOR STUDENTS

MindTap Instant Access (6 Months/Single Term) for Brigham's Financial Management: Theory and Practice

ISBN: 9780176596620

MindTap Instant Access (12 Months/Multi Term) for Financial Management: Theory and Practice

ISBN: 9780176596637