"The book combines academic rigour (in the explanation of theory) with practical application (explaining how companies apply theory in real life). There are lots of numerical examples to help with understanding of the concepts covered." Dr Rob Jones, Newcastle University Business School



The sixth edition of this highly respected text is comprehensive yet accessible, with real-world case studies to ground you in the application of important concepts.



Written with authority by authors steeped in the financial world, the book offers a comprehensive survey of the theory and practice of corporate finance for anyone studying the topic by itself or within business, accounting, finance, banking or economics courses, teaching you how to make informed, successful financial decisions that are crucial for a career in business.



It explores topics such as investment appraisal, risk and return, sources of finance, and risk management, including derivatives, and gives a unique treatment of corporate value.



Key features



Financial techniques are illustrated in practical terms, using clear accessible language.
New Financial Times articles help you see the relevance of the theory to the real world
Finance is presented as a dynamic subject that is open to theoretical re-evaluation
Extensive range of examples and case studies, with statistics and data ranging from the number of corporate mergers to the default rates on corporate bonds
Easy-to-follow mathematical explanations

Glen Arnold runs an investment fund and previously held positions as professor of finance and professor of investing. In addition to the textbook Modern Financial Markets and Institutions he has authored leading investment and banking books including The Financial Times Guide to Investment, The FT Guide to Banking and The FT Guide to Value Investing.