AE Entrepreneurial Finance,
7th Edition

J. Chris Leach, Ronald W. Melicher

ISBN-13: 9789814986229
Copyright 2021 | Published
720 pages | List Price: USD $249.95

Master each step of the complete "life cycle" of a firm with Leach/Melicher's ENTREPRENEURIAL FINANCE, 7E. This edition vividly explains the theories, corporate finance tools and techniques you need to start, build and eventually harvest a successful entrepreneurial venture today. Using an inviting presentation, this book emphasizes sound financial management practices as you learn how to secure financing, use business cash flow models and strategically position your early-stage company. You also learn to interact effectively with financial institutions and regulatory agencies that can impact venture growth and ensure liquidity for investors. Updates throughout this edition feature real examples as well as in-depth capstone cases and mini-cases drawn from actual entrepreneurial ventures and common financial scenarios. Strengthen your entrepreneurial skills as you study key concepts, such as venture capital funds, clean tech, sustainable sales growth, strategic alliances, licensing agreements and exit strategies.


1. Introduction to Finance for Entrepreneurs.
2. Developing the Business Idea.
3. Organizing and Financing a New Venture.
4. Preparing and Using Financial Statements.
5. Evaluating Operating and Financial Performance.
6. Managing Cash Flow.
7. Types and Costs of Financial Capital.
8. Securities Law Considerations When Obtaining Venture Financing.
9. Projecting Financial Statements.
10. Valuing Early-Stage Ventures.
11. Venture Capital Valuation Methods.
12. Professional Venture Capital.
13. Other Financing Alternatives.
14. Security Structures and Determining Enterprise Values.
15. Harvesting the Business Venture Investment.
16. Financially Troubled Ventures: Turnaround Opportunities?
Case 1. Eco-Products, Inc.
Case 2. Spatial Technology, Inc.

  • J. Chris Leach

    J. Chris Leach is the W.W. Reynolds Capital Markets Chair and the former Robert H. and Beverly A. Deming Professor in Entrepreneurship at the Leeds School of Business within University of Colorado at Boulder. Dr. Leach received his Ph.D. in finance from Cornell University and began his teaching career at the Wharton School. He has served as a visiting professor at Carnegie Mellon, the Indian School of Business and the Stockholm Institute for Financial Research (at the Stockholm School of Economics). His teaching experience includes courses for undergraduates, M.B.A. and Ph.D. students, and executives. A former Graduate Professor of the Year, Dr. Leach has received multiple awards for M.B.A. teaching excellence. Dr. Leach's research on a variety of topics has been published in The Review of Financial Studies; Journal of Financial and Quantitative Analysis; Journal of Business; Journal of Accounting; Auditing and Finance; Review of Economic Dynamics and Journal of Money, Credit and Banking. His business background includes various startups dating back to the 1970s. He has also consulted in areas of business and strategic planning advising, valuation and deal structure for early-stage and small businesses. He is a faculty sponsor for M.B.A. teams that have qualified for twelve international championships for the Venture Capital Investment Competition, and he is a faculty advisor for the Deming Center Venture Fund.

  • Ronald W. Melicher

    Ronald W. Melicher is Professor Emeritus of Finance in the Leeds School of Business at the University of Colorado at Boulder. He earned his undergraduate, M.B.A. and Ph.D. from Washington University in St. Louis, Missouri. While at the University of Colorado, he received several distinguished teaching awards and was designated as a university-wide President's Teaching Scholar. A former president of the Financial Management Association, Dr. Melicher has taught entrepreneurial finance at M.B.A. and undergraduate levels, corporate finance and financial strategy in M.B.A. and Executive M.B.A. programs and investment banking to undergraduate students. While on sabbatical leave from the University of Colorado, he taught at the INSEAD Graduate School of Business in Fontainebleau, France, and at the University of Zurich in Switzerland. He has delivered numerous university-offered executive education non-credit courses and has taught in-house finance education materials for IBM and other firms. Dr. Melicher has given expert witness testimony on cost of capital in regulatory proceedings and provided consulting expertise in the areas of financial management and firm valuation. Focusing on mergers and acquisitions, corporate restructurings and the financing and valuation of early-stage firms, his research has been published in such major journals as the Journal of Finance, Journal of Financial and Quantitative Analysis and Financial Management. In addition, he is the co-author of INTRODUCTION TO FINANCE: MARKETS, INVESTMENTS, AND FINANCIAL MANAGEMENT.

  • FULL-COLOR EBOOK OR PRINTED EDITION REFLECTS THE MOST RECENT CHANGES IN TODAY'S SECURITIES AND TAX LAWS. This edition highlights the latest developments in securities and tax laws in print or within the new, inviting eBook format. Revised and reorganized chapter-opening Learning Objectives guide students through timely, prominent topics in each major section of every chapter.

  • UPDATED END-OF-CHAPTER MATERIALS WITH ENGAGING MINI-CASES PROVIDE OPPORTUNITIES TO APPLY CONCEPTS. Each chapter concludes with an extensive variety of learning features to help students review and apply the material, assess their understanding and identify any areas where they need additional clarification.

  • FROM THE HEADLINES" MINI-ARTICLES FEATURE NEW VENTURES. Students immediately understanding the importance and relevance of what they are learning with these stage-relevant recent examples of new ventures that appear throughout this edition.

  • ENGAGING, CONVERSATIONAL STYLE ENSURES AN UNDERSTANDABLE, STUDENT-FRIENDLY PRESENTATION The authors' conversational, reader-friendly tone and straightforward explanations make even complex financial concepts easier to understand, apply and retain.

  • TIME-SAVING INSTRUCTOR MATERIALS SIMPLIFY CLASS PREPARATION. This edition's robust companion website includes a wealth of resources to enhance your teaching experience, engage your students and reduce your preparation time.

  • TWO CAPSTONE CASES ENABLE STUDENTS TO SYNTHESIZE ESSENTIAL IDEAS. In addition to thorough coverage of key concepts and extensive real-world examples that bring concepts to life, this edition offers two in-depth capstone cases that give students significant and valuable hands-on experience.

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.