Emphasizes applications to help students better understand the uses of Finance theory. End-of-chapter problems challenge students to think analytically and apply their understanding of the theory. New to This Edition NEW co-author Kuldeep Shastri, renowned scholar and teacher, joins a powerful team of authors offering further depth and mathematical sophistication to this popular, well-established book. The central paradigms of financial theory have been moved to the first 12 chapters by a reorganization of topics. Revised chapters on capital structure and dividend policy respond to immense changes in these areas. Chapter 7 includes new information on option pricing.
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International Journal of Education and Research Vol. During this phase, development of the financial management function occurred as the result of the corporate consolidation and U. Although this was a period of growth, price fluctuations and a scarcity of resources reinforced the relevance of managing the capital structure, and studies on liquidity, budgeting techniques, and financial recovery stood out, particularly after the effects of the crash Weston, In this sense, emphasis was placed on sources of resources.
However, the early s brought rapid economic expansion, pushing internal controls for accounts receivable, accounts payable, and inventory into the spotlight Weston, In addition to the raising of resources, the management of cyclic assets gained importance during this economic phase that required firms to improve their organizational performance, and financial management was forced to evolve in this aspect.
Between the late s and the early s, corporate profitability was reduced, and the appearance of new companies meant that resources became scarce for traditional firms. Project viability analysis and internationalization, the latter as a means of seeking out new investment opportunities, brought the financial management function closer to the concepts of economic theory.
It bears stressing that, until the s, the study of the financial management function was normative, in that it focused on defining improved investment and funding policies; there was no emphasis on the effect of these policies on company value. Only after the s did a change in focus occur in the finance literature, towards a positive approach, when scholars sought to understand the consequences of these decisions on company value Smith, This advancement represented the understanding of the relationship between funding and investment decisions.
Financial theory and corporate policy
Financial Theory and Corporate Policy, 4th Edition
financial theory and corporate policy von copeland weston shastri
ISBN 13: 9781292021584