Product Description

Principles of Corporate Finance is the worldwide leading text that describes the theory and practice of corporate finance. Throughout the book the authors show how managers use financial theory to solve practical problems and as a way of learning how to respond to change by showing not just how but why companies and management act as they do. The text is comprehensive, authoritative, and modern and yet the material is presented at a common sense level. The discussions and illustrations are unique due to the depth of detail blended with a distinct sense of humor for which the book is well known and highly regarded. This text is a valued reference for thousands of practicing financial managers.

Product Details

• Amazon Sales Rank: #87559 in Books
• Published on: 2007-10-09
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 1056 pages

About the Author
McGraw-Hill authors represent the leading experts in their fields and are dedicated to improving the lives, careers, and interests of readers worldwide

McGraw-Hill authors represent the leading experts in their fields and are dedicated to improving the lives, careers, and interests of readers worldwide

Customer Reviews

Not an easy read for newbies
I am an mba student and this book takes a long time to get use too. The authors do not help you understand concepts easily if you are new to finance in general. I wasted a lot of time trying to understand material about topics by reading the back. It lacked the essentials to point out key concepts with good examples. Look to other easier books to understand with examples. This book is unnecessarily wordy.

kia
This book is waste of moeny. I am a MBA student and had to read this book for the course. There was not a single page of this book that was easy to read. I had to read other finance books at the end. It is inadequate and does not explain many important concepts in finance. It jumps into complicated issues without explaining the basics. It lacks defenition of terms. I have compared this to other finance books and found this very inadequate and difficult to understand.

Bad emphasis on Efficient Market Hypothesis
This book is an introduction to many topics in corporate finance. It is mostly well written and easy to understand if you are familiar with the topics already. The book offers many valuable bits of knowledge and I learned many things from it.

My main complaint with this book, however, and the reason I have only rated it at 3 stars, is its emphasis and almost blind belief in the Efficient Market Hypothesis and the derived theories such as the Capital Asset Pricing Model. This belief influences many parts of the book, but the assumption that stock markets have a superior intelligence in the aggregate is clearly a fallacy in my opinion and experience, because the stock markets often do exhibit 'cascading' irrational behaviour.

Another book which may interest you is: Analysis for Financial Management by Robert Higgins, which is a shorter book that is perhaps also a little better at explaining many of the core concepts in corporate finance, although it naturally doesn't cover all the details of this much larger book.

PS: This review is for the 8th edition.