Fundamentals of Corporate Finance, 3rd Edition

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• Adaptive Learning: A way to enable personalized learning at scale.Not every student learns the same way and at the same rate. MyLab with Adaptive Learning continuously assesses student performance and activity in real time, and, using data and analytics, personalizes content to reinforce concepts that target each student’s strengths and weaknesses.
• Mobile Dashboard: An app that helps students stay on track. The Mobile Dashboard gives students the feedback they need to stay on target throughout the course–right on the devices they’re already using. A companion app that is available for select MyLab & Mastering products, Mobile Dashboard provides instant, 24/7 access to course announcements, assignment due dates, scores, and results.
• Enhanced eText: Engagement in lecture is essential to student success, and continuing that engagement outside of class is just as critical. The new Enhanced eText found within Pearson’s MyLab keeps students engaged in learning on their own time, while helping them achieve greater conceptual understanding of course material.

   

  Just as a great instructor brings course material to life, the immersive Enhanced eText brings reading to life – with animations, interactive tutorials, and more. In the Enhanced eText, immediate practice suited to a variety of learning styles is just a click away. The results of all exercises feed into the MyLab Study Plan, powered by Knewton, which provides an exceptional adaptive learning experience for each individual student.

   

  Combining resources that illuminate content with accessible self-assessment, Pearson’s MyLab with Enhanced eText provides students with a complete digital learning experience – all in one place.

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Note: You are purchasing a standalone product; MyFinanceLab does not come packaged with this content. If you would like to purchase both the physical text and MyFinanceLab search for ISBN-10: 0133576876/ISBN-13: 9780133576870. That package includes ISBN-10: 013350767X/ISBN-13: 9780133507676 and ISBN-10: 0133543889/ISBN-13: 9780133543889.

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Help Students Review and Apply Concepts

Provide the latest information in a logical succession: Reorganized presentation of topics. Specific highlights include:

• Reorganized flow of topics in Chapter 3 and 4: Mastering the tools for discounting cash flows is central to students' success in the introductory course. Students begin with a step-by-step look at the time value of money in Chapter 3, which provides intuition for time value concepts, introduces the Valuation Principle, and presents rules for valuing cash flows. Chapter 4 then addresses cash flow valuation for multi-period investments.

• NEW! All text discussions and figures, tables, and facts have been updated to accurately reflect exciting developments in the field of finance in the last three years.

Balance Theory and Practice. To be successful, students need to master the core concepts and learn to identify and solve problems that today’s practitioners face.

• NEW! Time value of money chapters have been reorganized to quickly build the fundamental concepts and then apply them to both annual and more frequent cash flows.

• NEW! New centralized coverage of financial ratios in a specific section in Chapter 2 provides students with the tools to analyze financial statements.

• The Valuation Principle is presented as the foundation of all financial decision making. The central idea is that a firm should take projects or make investments on the firm’s value by comparing the costs and benefits in equivalent terms.
• Guided Problem Solutions are examples that accompany every important concept using a consistent problem solving methodology that breaks the solution process into three steps: Plan, Execute, and Evaluate.
• Personal Finance GPS examples showcase the use of financial analysis in everyday life by setting problems in scenarios such as purchasing a new house or car, and saving for retirement.
• Common Mistake boxes alert students to frequently made mistakes stemming from misunderstanding core concepts and calculations—in the classroom and in the field.

Offer Applications that Reflect Real Practice. To help students make the connection between the concepts in the text and the real world of business, this text features:

• NEW! Expanded discussion of the Global Financial Crisis. Special boxes throughout tie the material to aspects of the 2007-2009 financial crisis. These boxes highlight the connection between what the students are learning and the Dodd-Frank Act, Bernie Madoff’s Ponzi scheme, teaser rates and subprime loans, yield spreads, hot and cold IPO markets, capital structure, bailouts, and more. Also included: a new interview with Kevin Warsh, a former Federal Reserve Governor.
• NEW! Data Cases and Integrative Cases have been replaced and added throughout, giving students a chance to apply the material with realistic data-analyzing exercises and problems that integrate material across chapters in each major part of the book.
  

• Chapter-Opening Interviews with recent college graduates now working in the field of finance. These interviews underscore the relevance of the concepts to students who are encountering them for the first time.
• Practitioner Interviews from notable professionals highlight leaders in the field and address the effects of the financial crisis.
• General Interest boxes highlight timely material from financial publications that shed light on business problems and real-company practices.

Get Every Student to Think Finance. Because one of the hardest parts of learning finance for non-majors is mastering the jargon, math and non-standardized notation, Fundamentals of Corporate Finance systematically uses:

• Notation Boxes
• Numbered and Labeled Equations
• Timelines
• Financial Calculator
• Spreadsheet Tables

Practice Finance, Learn Finance. Working problems is the proven way to cement and demonstrate an understanding of finance, which is why this text offers several opportunities for students to practice: 

• NEW! Over 50 new problems have been added and many others refined, with the authors again personally writing and solving each one. In addition, every single problem is available in MyFinanceLab, the groundbreaking homework and tutorial system that accompanies the book.

• • NEW! Using Excel boxes have been expanded and provide hands-on instruction of how to use Excel to solve financial problems and include screenshots to serve as a guide for students.

• Concept Check Questions at the end of each section enable students to test their understanding and target areas in which they need further review
• End-of-chapter Problems written personally by Berk/DeMarzo/Harford offer instructors the opportunity to assign first-rate materials to students for homework and practice with the confidence that the problems are consistent.
• End-of-chapter Materials that reinforce learning:
• MyFinanceLab Chapter Summary
• Data Cases
• Integrative Cases

Two-Pronged Approach to Stock Valuation.

1. Immediately following bond valuation, Chapter 7 opens with key background coverage of stock quotes, the mechanics of stock trades, and presents the dividend-discount model.
2. In Chapter 10, the discounted cash flow model is introduced by building on the concepts that were already developed in the capital budgeting chapters. Chapter 10 also discusses market efficiency and includes a new discussion of investor behavior.

Keep Your Course Current and Relevant

• NEW! All text discussions and figures, tables, and facts have been updated to accurately reflect exciting developments in the field of finance in the last three years.
• Interviews. A number of new and updated practitioner and recent graduate interviews support this text’s practical perspective and incorporate timely information.

Special Topics Section.

• The new mergers and acquisitions chapter looks at the overall market for takeovers, motivations for pursuing acquisitions, and the typical process.
• Additional chapters are also available online—leasing, insurance and risk management, and corporate governance.