Book 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. Richard A. Brealey and Stewart C. Myers welcome Franklin Allen as a new coauthor to this Eighth Edition. Sometimes the addition of a new coauthor means that one of the existing authors proposes to take a back seat. That is not the case with this team. Dr. Allen’s addition represents a genuine increase in capacity and brings fresh expertise and ideas to an already tremendously successful textbook and partnership.
Customer Reviews:
Just perfect........2007-09-06
Although I did not pass the exam that I took. The problem was with the exam not the book. This is an excellent book with lot of work done to ensure that the book is perfect.
The presentations available online with this book have a few mistakes.
Not great for the beginner.......2007-07-17
This book is not very clear in its explanations and does not have too many worked examples. Not sure why my MBA school prescribes this. I recommend reading Fundamentals of Corporate Finance Standard Edition by Stephen Ross, Randolph Westerfield.
Lacking Full Explanations.......2007-06-07
This book leaves me with more questions about finance than I have answers. Who do the authors think they are writing for? It surely is not the beginner MBA student. It seems like words are expensive because they do not fully or even partially explain concepts. Finance is difficult but it should not be impossible. I should not have to read and reread to figure out what the heck they are talking about. Maybe they should serve as advisors to this text and let someone who knows how to write actually write the book. These guys may be leaders and brillant but they are poor communicators. I'm not thrilled with my professor either. Is he a cheerleader or a teacher?
Good introductory finance book.......2007-04-11
This is an easy to ready comprehensive introduction to basic finance concepts. I would not recommend it to finance majors but I consider it a good choice for general MBA or other students that do not have a stong quantitative finance background.
Comprehensive text - you get your money's worth.......2007-01-09
I got this book for my Intro to Corp Finance class. The professor was aweful, but the book got me through the class. There are several other finance classes that use the same text, so for once I feel like I'll get my money's worth out of a textbook.
Book Description
WAKE UP AND SMELL THE SUCCESS!
You already know the Starbucks story. Since 1992, its stock has risen a staggering 5,000 percent! The genius of Starbucks success lies in its ability to create personalized customer experiences, stimulate business growth, generate profits, energize employees, and secure customer loyalty-all at the same time.
The Starbucks Experience contains a robust blend of home-brewed ingenuity and people-driven philosophies that have made Starbucks one of the world's “most admired” companies, according to Fortune magazine. With unique access to Starbucks personnel and resources, Joseph Michelli discovered that the success of Starbucks is driven by the people who work there-the “partners”-and the special experience they create for each customer. Michelli reveals how you can follow the Starbucks way to
- Reach out to entire communities
- Listen to individual workers and consumers
- Seize growth opportunities in every market
- Custom-design a truly satisfying experience that benefits everyone involved
Filled with real-life insider stories, eye-opening anecdotes, and solid step-by-step strategies, this fascinating book takes you deep inside one of the most talked-about companies in the world today.
For anyone who wants to learn from the best-and be the best-The Starbucks Experience is a rich, heady brew of unforgettable user-friendly ideas.
Customer Reviews:
All fluff no substance.......2007-10-05
This is a charming book and I've learned a lot about Starbucks by reading it. However, it was all fluff and no real substance and it came across as a PR piece for Starbucks.
If you're expecting a book that will give you some insight as to how to replicate the "Starbucks experience", you won't find that here. In truth, I read 1/2 to 3/4 of this book and gave up on it. After a while, it became tiresome to read anecdote after anecdote without any real substance behind it.
Highly Recommended Reading.......2007-10-03
Why has Starbuck's seen such phenomenal success and growth in a highly competitive niche? How have they becoming synonymous with coffee the way Kleenex is to tissue?
Michelli makes the case that it's partly consistent quality coffee, but much more so the whole "experience" consumers can expect at any Starbucks.
The author breaks down what makes up the Starbucks Experience into:
1) MAKE IT YOUR OWN
2) EVERYTHING MATTERS
3) SURPRISE AND DELIGHT
4) EMBRACE RESISTANCE
5) LEAVE YOUR MARK
He fills the book with stories that demonstrate the points made which makes it very readable. I did find the distinction between items 1-3 above a little vague and that many of the examples could easily have fit into one of the other categories he created.
I would be fascinated to hear more about how Starbuck's screens to get employees that give service well beyond the norm.
If your vocation involves any level of customer service this is for you and great to share with your friends, employees and business partners.
starbucks is special because it is personal.......2007-09-20
this book shows why starbucks is special. At first blush, it is so glowing in its praise that it seems like propaganda. But the sheer volume of anecdotes and the homely feel of many of them quickly sink in. One in particular sticks in my mind. A starbucks shop was hiring partners (employees) and decided to hire some local homeless people. The partners chipped in to buy them suitable clothes until they could earn enough to stand on their own. Now tell me, why can't other companies do this? good question.
Attention to Details.......2007-09-16
The Starbucks Experience provides an interesting insite as to keeping it simple and staying focused on details. From the fields to the customers, a total focus on details makes the Starbucks Experience a terrific guide on how to conduct business.
REALLY LIKED IT - BOUGHT 4 MORE COPIES!.......2007-08-29
A quick read with tasty principles and mouth-watering ideas. I bought 4 copies for a church organization's staff to give them guidance as they grow to be a dynamic place in their community. (And, because Starbuck's in one of their favorite places to buy beverages!)
Book Description
With its exciting introduction of the Harley-Davidson focus company theme, this book continues to provide a solid, enduring foundation of the tools of modern theory while at the same time developing the logic behind their use. The “10 Principles of Finance” (formerly “Axioms” ) provide the framework, or “the big picture” of finance, which ties the major concepts of the book together.
A six-part organization covers the scope and environment of financial management, valuation of financial assets, investment in long-term assets, capital structure and dividend policy, working-capital management, and special topics in finance, and special topics in finance.
For an enduring understanding of the basic tools and fundamental principles upon which finance is based.
Customer Reviews:
Great textbook.......2006-10-04
I'm usually very critical of textbooks, but this one reads extremely well. It is clearly organized and progresses in a logical manner. The subject material is inherently difficult, but the authors do an excellent job explaining both the common-sense and mathematical basis for each topic. I have no formal background in finance or accounting but I'm doing well in a 300-level course with just this book to thank. Anyone who wants to educate themselves about stock/bond values, interpreting balance sheets, etc, would benefit greatly from this book.
Great Book for a hard course.......2006-03-27
The class is hard no matter what school you attend. The book is easy reading and has many great exercise for you to practice to help you understand the text. The exercises had help me tremendously.
Financial Management : Principles and Applications (10th Edition) .......2005-10-10
The Book was not plastic covered and plus there was no cd included in the book
EXCELENT BOOK.......2005-09-11
This is a very good and updated book. It brings excelent cases and is well designed and easy to read.
Book Description
Succeed in finance with PRINCIPLES OF FINANCE! With coverage of the principles of financial systems and business organizations, managerial finance, and investment fundamentals, this finance text provides you with the tools you need to be successful in this course. Student-friendly and easy to understand, PRINCIPLES OF FINANCE is the perfect way to learn financial principles.
Customer Reviews:
Good book.......2006-11-10
I find this to be a decent book. Very easy to understand the material in it.
Average customer rating:
- An excellent valuation book that should be well known by a wider audience
- Ground Up Valuation Techniques
- An ideal introduction to company valuation
- A Solid Introductory Valuation Text
- Fantastic book
|
Corporate Finance: A Valuation Approach
Simon Z. Benninga , and
Oded H Sarig
Manufacturer: McGraw-Hill/Irwin
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ASIN: 0070050996 |
Book Description
Designed for courses in corporate finance, this text is a detailed description of the valuation process, providing an integrated, comprehensive method for valuing assets, firms, and securities across a wide variety of industries. The presentation begins with a review of financial and accounting techniques, proceeds with a presentation of the valuation process, leading towards the development of pro-forma financial statements and the translation of these projections into values. A key strength of this text is teaching students how to use pro forma financial statements as a basis for valuation.
Customer Reviews:
An excellent valuation book that should be well known by a wider audience.......2007-02-08
Simon Benninga's and Oded Sarig's "Corporate Finance: A Valuation Approach" (CFaVA) is one of those secret texts that true insiders cherish while other less efficient or significant works capture limelight.
"CFaVA" is comparable to the McKinsey group authors Koller, Goedhart, Wessels's "Valuation: Measuring and Managing the Value of Companies" and also Aswath Damodaran's "Investment Valuation: Tools and Techniques for Determining the Value of Any Asset" [Full disclosure: I've taught graduate Corporate Valuation with both texts].
Benninga and Sarig's work is excellent because it is lean while not oversimplified. The key chapter of estimating discount rates is the finest one-chapter treatment of the subject I've seen in my career, and should be required reading for any M&A or LBO banker or PE associate. The chapter on valuing by multiples is also useful for relative value and comparative scenarios for deal-makers.
Chapter 12 covers convertible securities, and it would be unfair to say it is bad simply because it is compressed and incomplete (entire libraries have been written on the subject of convertible bond valuation), but also appears out of place in the content of the book until you realize that the random elements of a stock price going forward in time intersect with capital structure choices and enterprise value, so the connection and recursive element of valuation is made at once explicit with an example.
An excellent book that should be well known by a wider audience.
Ground Up Valuation Techniques.......2002-01-18
If you are new to corporate finance valuation this book will take you to the next level. Provides step by step instruction on how to value companies. Covers Excel techniques with easy to follow examples. Covers 1 full semester at most business schools.
An ideal introduction to company valuation.......2001-09-21
This book offers a very simple introduction to evaluation of companies prior to investing. The DCF method is primarily used. There is a common thread running through the chapters which makes the book easy to understand. Its not verbose, which adds to its attractiveness. But, the readers should remember that this is only an introduction, and some other advanced book like Copeland's is needed to build upon the ideas presented in the book.
A Solid Introductory Valuation Text.......2000-12-18
This book does a good job of logically explaining the step-by-step method of corporate valuation. Benninga and Sarig do a good job of focusing on the practical tools of finance. I only wish the DCF examples were less simplistic. A substantial amount of additional work is needed to apply these models to real world firms.
Fantastic book.......2000-05-22
This book serves as an excellent introduction to and/or refresher on valuation techniques. The entire valuation process (primarily DCF) is broken down into a series of steps, each of which gets its own complete chapter. Each chapter is well written and builds on its predecessors.
A particular strength of the book is the authors' reference to Excel functions and which ones are useful in valuation models. This book is not just theory; there are concrete "how to" examples throughout. Once you've finished this book, you can do more than cite valuation theory: you can build valuation models.
One of the best finance books I've ever read.
Book Description
Corporate Finance, by Ross, Westerfield, Jaffe and Jordan was written to convey the most important corporate finance concepts and applications as a level that is approachable to the widest possible audience. The concise format, managerial context and design, and student-friendly writing style are key attributes in this text. We took the best from RWJ Fundamentals and RWJ Corporate to create a book that fits an underserved need in the market. RWJJ Core Principles strikes a balance by introducing and covering the essentials, while leaving more specialized topics to follow-up courses. This text distills the subject of corporate finance down to its core, while also maintaining a deciding modern approach. The well-respected author team is known for their clear, accessible presentation of material that makes this text an excellent teaching tool.
Customer Reviews:
Corporate Finance.......2007-07-13
I purchased this textbook for a class. The class is kind of advanced and I am having to teach myself from the book. Unfortunately, the book does not give very many examples and only shows the simplest equations then expects to be able to solve the harder ones. Overall, the book is not very helpful/ user friendly.
Book Description
Offers board members a clear understanding of the concepts and principles that are at the very heart of John Carver's innovative Policy Governance model. Presents the guidelines needed to transform your board members into a unified group that consistently makes powerful contributions to its organization.
Customer Reviews:
Carver guides are very god for the non profit board.......2005-07-20
This is the secong not-for-profit organization that I have directed. I have used this guide and the subsequent Carver guides to help with organizing and direction setting. Volunteer board members always respond well to the material. It is easy to understand yet the Carver model is very comprehensive. I would recommend this to any organization that is engaged in charitable work.
Excellent overview of Carver's Policy Governance theory ........1998-10-30
This first in a 12-part series of general guides on Policy Governance is a great introduction to author John Carver's new approach to nonprofit board development. Basically, this approach clearly separates the roles of board and staff as they go about their separate but related jobs of organizational governance and management. Policy Governance clarifies these roles through policy development and permits the board---governing as a body---to control the management and direction of the organization in a global policy approach. This guide is a good start in grasping the concepts of the approach.
Customer Reviews:
The Bible, Hands Down.......2005-11-22
There is a reason every top 20 MBA program in the US uses this masterpiece.
Get ready for the ride of your life.
Nice overview.......2005-07-16
The strength of this title lies in its presentation. It earns at least one bonus star just for the example involving "Marvin Enterprises" and the production of gargleblasters. (If that statement confuses you, order Douglas Adams "The Hitch-hikers Guide to the Galaxy" now. It's better than Brealey-Myers, and cheaper.) The writing is truly exemplary for a 101-level text.
The weakness of the book is exactly that, though: it is a 101-level text. That's fine (I guess) if you're buying this for a class, or in preparation for the SOA Finanace VEE (as I was); If you're hoping for detailed explanations of CAPM, Black-Scholes, or even the efficient market hypothesis, look elsewhere.
Good, some minor critisisms.......2005-05-24
The book does a very good job in covering literally all aspects of value, risk, cap. budgeting, choosing appropriate cap. structure, and other topics in corp fin. However, what I found impracticable is the sometimes unnecessary complicated language even when it comes to explaining simple things. To me, there is no point in making corporate finance more complicated than it is.
That's why good, otherwise would be excellent.
katz.......2005-04-15
Before you buy this, ask yourself the following three questions:
1. Are you studying towards a professional qualification or an advanced degree?
2.Do you have a fundamental knowledge of finance?
3. Are you really inclined to prepare from the bible?
If you've answered "yes" to all the three question above, then don't think twice, go ahead and buy this book. However if you answered "yes" to all the above question and didn't find this book useful, then maybe corporate finance is not for you!!!
This is the ultimate book on finance for anyone who already has some knowledge of basic corporate finance. The author starts from Time Value of money and takes you to an advanced level.If this book is read(and understood)along with readings that the authors mention, then there is no doubt that you may as well write a book on corporate finance.
However Short finance area is not properly presented in this book and therefore is you want to buy a book which focuses on short term finance, then don't even think about this book.
Other than the shortage mentioned above, the book make a complete read, and is a must have for anyone interested in knowning finance to the max.
The Holy Grail of Corporate Finance..........2005-03-11
...This book runneth over with usefulness!
Every student of applied corporate finance should own this volume. This book has reared its informative head during numerous periods in my journey towards understanding financial theory effectively --from the States to industry to the hallowed halls of several European universities and beyond...
Parents: buy this book for your fledgling exotic derivatives trader or your future Wharton professor!
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