Financial Management: Theory and Practice, An Asia Edition 1st Edition
Annie Koh | Ser-Keng Ang | Eugene F. Brigham | Michael C. Ehrhardt
ISBN-13: 9789814369527 | ISBN-10: 9814369527
© 2014 | Published |  0  Pages

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The financial markets have been undergoing dramatic changes in the last five years. The Global Financial Crisis that resulted from the sub-prime debacle in the United States, and the sovereign debt crisis across Euroland have elevated Asian economies into prominence globally. Asian economies, both in emerging markets and developed markets are poised for steady and strong growth. An in-depth understanding of the nuances and practices in these markets is essential because the operating, legal, regulatory and cultural environments are vastly different from those in the developed markets in Europe and the United States. To this end, this Asia edition of Financial Management: Theory and Practice aims to provide readers with insights into the key issues and cases that are related to the corporate scene in Asia.

While updating the book with content and examples most relevant to students in Asia, the features of the original edition have been maintained. It is the only text that presents a striking balance between solid financial theory and practical applications. Students gain a strong working knowledge of today’s financial environment as the book examines recent financial crises and the role of finance in the global economy, business, and their individuals’ personal lives. The relevant and engaging presentation, numerous examples, and emphasis on using Excel spreadsheets prepare students to make sound financial decisions in business. The book progresses from an early presentation of fundamentals to specific techniques and discussions that guide students in maximizing the value of a firm. This text is not only the ideal choice for today’s introductory MBA course, but also serves as a complete reference tool for students throughout their academic and business careers.



  • About the Authors
    Brief Contents
    Contents
    Preface

    PART 1 Fundamental Concepts of Corporate Finance
    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

    PART 2 Fixed Income Securities
    CHAPTER 4 Time Value of Money
    CHAPTER 5 Bonds, Bond Valuation, and Interest Rates

    PART 3 Stocks and Options
    CHAPTER 6 Risk, Return, and the Capital Asset Pricing Model
    CHAPTER 7 Stocks, Stock Valuation, and Stock Market Equilibrium
    CHAPTER 8 Financial Options and Applications in Corporate Finance

    PART 4 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 5 Corporate Valuation and Governance
    CHAPTER 12 Financial Planning and Forecasting Financial Statements
    CHAPTER 13 Corporate Valuation, Value-Based Management and Corporate Governance

    PART 6 Cash Distributions and Capital Structure
    CHAPTER 14 Distributions to Shareholders: Dividends and Repurchases
    CHAPTER 15 Capital Structure Decisions

    PART 7 Managing Global Operations
    CHAPTER 16 Working Capital Management
    CHAPTER 17 Multinational Financial Management

    PART 8 Tactical Financing Decisions
    CHAPTER 18 Lease Financing
    CHAPTER 19 Hybrid Financing: Preferred Stock, Warrants, and Convertibles
    CHAPTER 20 Initial Public Offerings, Investment Banking, and Financial Restructuring

    PART 9 Special Topics
    CHAPTER 21 Mergers, LBOs, Divestitures, and Holding Companies
    CHAPTER 22 Bankruptcy, Reorganization, and Liquidation
    CHAPTER 23 Derivatives and Risk Management

    PART 10 Advanced Issues
    CHAPTER 24 Portfolio Theory, Asset Pricing Models, and Behavioral Finance
    CHAPTER 25 Real Options
    CHAPTER 26 Analysis of Capital Structure Theory

    Appendixes
    Appendix A Solutions to Self-Test Problems
    Appendix B Answers to End-of-Chapter Problems
    Appendix C Selected Equations and Data
    Appendix D Values of the Areas under the Standard Normal Distribution Function
    Glossary
    Name Index
    Subject Index

    • Chapters are adapted to explain practices and nuances in Asian markets and corporate sectors different from Europe and the United States
    • Provides a more international perspective of financing issues that firms in emerging or small economies face
    • Discusses the differences in regulatory and operating environments in emerging Asia
    • Showcases successful Asian corporations that have grown substantially over the last decade
    • Uses Asian cases and examples throughout
    For more information about these supplements, or to obtain them, contact your Learning Consultant

    • CNOW 2-Semester Printed Access Card, Asia Edition for Brigham’s Financial Management: Theory and Practice
      ISBN-10: 9814524700 | ISBN-13:9789814524704
      List Price = 69.95
      CNOW 2-Semester Instant Access Card, Asia Edition for Brigham’s Financial Management: Theory and Practice
      ISBN-10: 9814524719 | ISBN-13:9789814524711
      List Price = 69.95

    • CNOW 2-Semester Printed Access Card, Asia Edition for Brigham’s Financial Management: Theory and Practice
      ISBN-10: 9814524700 | ISBN-13:9789814524704
      List Price = 69.95
      CNOW 2-Semester Instant Access Card, Asia Edition for Brigham’s Financial Management: Theory and Practice
      ISBN-10: 9814524719 | ISBN-13:9789814524711
      List Price = 69.95

    • Annie Koh is Vice President for Business Development and External Relations at the Singapore Management University (SMU). An Associate Professor of Finance, Annie also holds the position Academic Director of The Financial Training Institute (FTI), Center for Professional Studies (CPS), International Trading Center (ITC) and Business Families Institute (BFI) at SMU. Her previous portfolio includes positions as Associate Dean, Lee Kong Chian School of Business and Dean, Office of Executive & Professional Education. She received her PhD in International Finance from New York University (Stern School of Business) where she was a Fulbright scholar.

      Annie is a frequently sought after conference speaker at the World Economic Forum, panel moderator and expert commentator. She also sits on several advisory boards, governing councils and steering committees in SMU as well as the financial services and government sectors. She chairs the Asian Bond Fund 2 Supervisory Committee of the Monetary Authority of Singapore. Currently, she is on the Advisory Boards of a number of family businesses and on the investment committee of i-Globe (a private equity firm) as well as a member of the Research and Publications Committee of the Singapore Chinese Chamber of Commerce & Industry. She was also recently appointed to the Board of Directors of k1 Ventures Limited which is listed on the Singapore Stock Exchange and which is an investment holding company of the Keppel Group. Annie is a recipient of the Public Administration Medal (Bronze), a prestigious National Day Award for 2010.

      Annie’s research interests are in Family Office and Family Business Research, Investor Behaviour, Alternative Investments, and Enterprise Risk Management. Her paper, ‘An Analysis of Extreme Price Shocks and Illiquidity Among Systematic Trend Followers’ (2010), co-written with Bernard Lee and Cheng Shih-Fen was published in the Review of Futures Markets and the Social Science Research Network.

      Ser-Keng Ang is a Senior Lecturer of Finance at the Singapore Management University (SMU). Ser-Keng was the winner of the SMU Teaching Excellence Awards in 2008 for ‘Most Promising Teacher’ and has consistently been placed on the Dean’s Honor List as top teaching faculty since 2003–04. In 2012, he won the Best Teaching Award for the MBA elective.

      Ser-Keng’s research interests are in Mergers & Acquisition (M&A), capital markets, wealth management and fixed income. His article entitled, ‘Challenges of Private Banking in Asia’ has been published by the Journal of Wealth Management in the Spring 2010 issue. Ser-Keng also authored and edited the International Enterprise Singapore’s book on Financing Internationalization – Growth Strategies for Successful Companies (2004) which has been translated into Chinese.

      Prior to his academic appointment at SMU, Ser-Keng was an investment banker. He spent nine years in London and Hong Kong, where he was involved in the origination and execution of a number of cross-order transactions in the Asia Pacific region at international banks such as Deutsche Bank, ABN AMRO and Flemings, especially in the mergers & acquisitions and capital markets. At Deutsche Bank, he was responsible for an acquisition in the United States amounting to US$5.5 billion, for a Japanese multinational corporation. As a Senior Vice President at ABN AMRO, he was also responsible for cross-selling a broader range of products to corporate clients. Ser-Keng also worked at Arthur Andersen and Credit Suisse First Boston. Ser-Keng received a MBA from the London Business School, a Master in Business Research from the University of Western Australia, and a Bachelor of Accountancy (BAcc) from the National University of Singapore. He is qualified for both CPA and ACIS. He is a PhD in Finance candidate at the University of New South Wales, Australia.

      Dr. Eugene F. Brigham is Graduate Research Professor Emeritus at the University of Florida, where he has taught since 1971. Dr. Brigham 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. Dr. Brigham has served as president of the Financial Management Association and has written many journal articles on the cost of capital, capital structure, and other aspects of financial management. He has authored or co-authored ten 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. He has testified as an expert witness in numerous electric, gas, and telephone rate cases at both federal and state levels. 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 Corporation. Dr. Brigham continues to teach, consult, and complete research in addition to his academic writing. He 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.

      Dr. Michael C. Ehrhardt is a Professor in the Finance Department and is the Paul and Beverly Castagna Professor of Investments. He completed his undergraduate work in Civil Engineering at Swarthmore College. After working several years as an engineer, he earned his M.S. in Operations Research and Ph.D. in Finance from the Georgia Institute of Technology. Dr. Ehrhardt has taught extensively at the undergraduate, masters, and doctoral levels in the areas of investments, corporate finance, and capital markets. He has directed and served on numerous dissertation committees and is a member of the team that developed and delivered the integrative first year of the MBA program. Dr. Ehrhardt teaches in Executive Education Programs and consults in the areas of corporate valuation, value-based compensation plans, financial aspects of supply-chain management, and the cost of capital.
      He has been awarded the Allen G. Keally Outstanding Teacher Award, the Tennessee Organization of MBA Students Outstanding Faculty member, the College of Business Administration Research & Teaching Award, and the John B. Ross Outstanding Teaching Award in the College of Business. Much of his research focuses on 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. He has also authored or co-authored several books addressing various areas of finance.