Financial Management: Principles and Applications, Global Edition (13^th Ed.)

For undergraduate courses in corporate finance and financial management.

Develop and begin to apply financial principles

Students often struggle to see how financial concepts relate to their personal lives and prospective careers. Financial Management: Principles and Applications gives students a big picture perspective of finance and how it is important in their personal and professional lives. Utilizing five key principles, the 13th Edition provides an approachable introduction to financial decision-making, weaving in real world issues to demonstrate the practical applications of critical financial concepts.

Also available with MyLab Finance

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Students, if interested in purchasing this title with MyLab Finance, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.

Part 1: Introduction to Financial Management

1. Getting Started—Principles of Finance

2. Firms and the Financial Markets

3. Understanding Financial Statements

4. Financial Analysis—Sizing Up Firm Performance

Part 2: Valuation of Financial Assets

5. The Time Value of Money—The Basics

6. The Time Value of Money—Annuities and Other Topics

7. An Introduction to Risk and Return—History of Financial Market Returns

8. Risk and Return—Capital Market Theory

9. Debt Valuation and Interest Rates

10. Stock Valuation

Part 3: Capital Budgeting

11. Investment Decision Criteria

12. Analyzing Project Cash Flows

13. Risk Analysis and Project Evaluation

14. The Cost of Capital

Part 4: Capital Structure and Dividend Policy

15. Capital Structure Policy

16. Dividend and Share Repurchase Policy

Part 5: Liquidity Management and Special Topics in Finance

17. Financial Forecasting and Planning

18. Working-Capital Management

19. International Business Finance

20. Corporate Risk Management

SHERIDAN TITMAN holds the McAllister Centennial Chair in Financial Services at the University of Texas. He has a BS from the University of Colorado and an MS and PhD from Carnegie Mellon University. Prior to joining the faculty at the University of Texas, Professor Titman was a Professor at UCLA, the Hong Kong University of Science and Technology, and Boston College, and spent the 1988-1989 academic year in Washington, DC as the special assistant to the Assistant Secretary of the Treasury for Economic Policy. In addition, he has consulted for a variety of financial institutions and corporations. He has served on the editorial boards of the leading academic finance and real estate journals, was an editor of the Review of Financial Studies, and was the founding editor of the International Review of Finance. Titman has served as both Presidents and Vice Presidents of the American Finance Association and the Western Finance Association and has served as a director of the American Finance Association, the Asia Pacific Finance Association, the Western Finance Association, and the Financial Management Association. He has published more than 50 articles in both academic and professional journals and has co-authored two additional books, Financial Markets and Corporate Strategy, and Valuation. He has received a number of awards for his research excellence and is a Fellow of the Financial Management Association and a Research Associate of the National Bureau of Economic Research.

Sheridan and Meg live with their three sons and dog (Mango) in Austin, Texas.

ARTHUR J. KEOWN is the R. B. Pamplin Professor of Finance and Finance Department Head at Virginia Polytechnic Institute and State University. He received his bachelor's degree from Ohio Wesleyan University, his MBA from the University of Michigan  and his doctorate from Indiana University. An award-winning tea

Tying it all together. Through relevant, contemporary examples, students can easily identify relationships between the following key financial principles:

·    Principle 1: Money has a time value.

·    Principle 2: There is a risk-return tradeoff.

·    Principle 3: Cash flows are the source of value.

·    Principle 4: Market prices reflect information

·    Principle 5: Individuals respond to incentives.

Getting the most out of the material. Essential Learning Aids help students understand concepts on a deeper level.

·    Financial Analysis Tools provide quick reference guides for decision-making tools used in financial analysis. Appearing throughout the book, these helpful boxes display names, details, and summaries of calculations and formulas.

·    Concept Checks give students chances to test themselves before moving on with two to five questions. These help clarify topics and make sure concepts are understood at the end of specific sections.

·    A running glossary appears in the margins to define key terms found within each section.

·    Finance in a Flat World boxes demonstrate how each chapter’s content applies to international business, including the ongoing global financial crisis.

·    Regardless of Your Major boxes, found at the beginning of each chapter, incorporate examples from other business school majors to show the wide range of applicability finance has to students and their career paths.

·    The Business of Life boxes link important financial concepts to personal finance matters, helping students see key principles in action.

·    Fundamental equations appear throughout each chapter so students can reference formulas for assignments an