TY  - BOOK
AU  - Bodie,Zvi
AU  - Merton,Robert C.
TI  - Finance
SN  - 013310897X :
PY  - 2000///
CY  - Upper Saddle River, N.J.
PB  - Prentice Hall
KW  - Finance
N1  - One calculator guide for financial management laid in; Includes index; Finance and the Financial System -- What Is Finance? -- Defining Finance -- Why Study Finance? -- Financial Decisions of Households -- Financial Decisions of Firms -- Forms of Business Organization -- Separation of Ownership and Management -- The Goal of Management -- Market Discipline: Takeovers -- The Role of the Finance Specialist in a Corporation -- The Financial System -- What Is the Financial System? -- The Flow of Funds -- The Functional Perspective -- Financial Innovation and the "Invisible Hand" -- Financial Markets -- Financial Market Rates -- Financial Intermediaries -- Financial Infrastructure and Regulation -- Governmental and Quasi-Governmental Organizations -- Interpreting and Forecasting Financial Statements -- Functions of Financial Statements -- Review of Financial Statements -- Market Values versus Book Values -- Accounting versus Economic Measures of Income -- Returns to Shareholders versus Return on Book Equity -- Analysis Using Financial Ratios -- The Financial Planning Process -- Constructing a Financial Planning Model -- Growth and the Need for External Financing -- Working Capital Management -- Liquidity and Cash Budgeting -- Time and Resource Allocation -- The Time Value of Money and Discounted Cash Flow Analysis -- Compounding -- The Frequency of Compounding -- Present Value and Discounting -- Alternative Discounted Cash Flow Decision Rules -- Multiple Cash Flows -- Annuities -- Perpetual Annuities -- Loan Amortization -- Exchange Rates and Time Value of Money -- Inflation and Discounted Cash Flow Analysis -- Taxes and Investment Decisions -- Life-Cycle Financial Planning -- A Life-Cycle Model of Saving -- Taking Account of Social Security -- Deferring Taxes through Voluntary Retirement Plans -- Should You Invest in a Professional Degree? -- Should You Buy or Rent? -- How to Analyze Investment Projects -- The Nature of Project Analysis -- Where Do Investment Ideas Come From? -- The Net Present Value Investment Rule -- Estimating a Project's Cash Flows -- Cost of Capital -- Sensitivity Analysis Using Spreadsheets -- Analyzing Cost-Reducing Projects -- Projects with Different Lives -- Ranking Mutually Exclusive Projects -- Inflation and Capital Budgeting -- Valuation Models -- Principles of Asset Valuation -- The Relation between an Asset's Value and Its Price -- Value Maximization and Financial Decisions -- The Law of One Price and Arbitrage -- Arbitrage and the Prices of Financial Assets -- Interest Rates and the Law of One Price -- Exchange Rates and Triangular Arbitrage -- Valuation Using Comparables -- Valuation Models -- Accounting Measures of Value -- How Information Is Reflected in Security Prices -- The Efficient Markets Hypothesis -- Valuation of Known Cash Flows: Bonds -- Using Present Value Formulas to Value Known Cash Flows -- The Basic Building Blocks: Pure Discount Bonds -- Coupon Bonds, Current Yield, and Yield to Maturity -- Reading Bond Listings -- Why Yields for the Same Maturity May Differ -- The Behavior of Bond Prices over Time -- Valuation of Common Stocks -- Reading Stock Listings -- The Discounted Dividend Model -- Earnings and Investment Opportunities -- A Reconsideration of the Price/Earnings Multiple Approach -- Does Dividend Policy Affect Shareholder Wealth? -- Risk Management and Portfolio Theory -- An Overview of Risk Management -- What Is Risk? -- Risk and Economic Decisions -- The Risk-Management Process -- The Three Dimensions of Risk Transfer -- Risk Transfer and Economic Efficiency -- Institutions for Risk Management -- Portfolio Theory: Quantitative Analysis for Optimal Risk Management -- Probability Distributions of Returns -- Standard Deviation as a Measure of Risk -- Hedging, Insuring, and Diversifying -- Using Forward and Futures Contracts to Hedge Risk -- Hedging Foreign-Exchange Risk with Swap Contracts -- Hedging Shortfall Risk by Matching Assets to Liabilities -- Minimizing the Cost of Hedging -- Insuring versus Hedging -- Basic Features of Insurance Contracts -- Financial Guarantees -- Caps and Floors on Interest Rates -- Options as Insurance -- The Diversification Principle -- Diversification and the Cost of Insurance -- Choosing an Investment Portfolio -- The Process of Personal Portfolio Selection -- The Trade-Off between Expected Return and Risk -- Efficient Diversification with Many Risky Assets -- Asset Pricing -- The Capital Asset Pricing Model -- The Capital Asset Pricing Model in Brief -- Determinants of the Risk Premium on the Market Portfolio -- Beta and Risk Premiums on Individual Securities -- Using the CAPM in Portfolio Selection -- Valuation and Regulating Rates of Return -- Modifications and Alternatives to the CAPM -- Forward and Futures Prices -- Distinctions between Forward and Futures Contracts -- The Economic Function of Futures Markets -- The Role of Speculators -- Relation between Commodity Spot and Futures Prices -- Extracting Information from Commodity Futures Prices -- Forward-Spot Price Parity for Gold -- Financial Futures -- The "Implied" Riskless Rate -- The Forward Price Is Not a Forecast of the Future Spot Price -- Forward-Spot Price-Parity Relation with Cash Payouts -- "Implied" Dividends -- The Foreign-Exchange Parity Relation -- The Role of Expectations in Determining Exchange Rates -- Options and Contingent Claims -- How Options Work -- Investing with Options -- The Put-Call Parity Relation -- Volatility and Option Prices -- Two-State (Binomial) Option Pricing -- Dynamic Replication and the Binomial Model -- The Black-Scholes Model -- Implied Volatility -- Contingent Claims Analysis of Corporate Debt and Equity -- Credit Guarantees -- Other Applications of Option-Pricing Methodology -- Corporate Finance -- Capital Structure -- Internal versus External Financing -- Equity Financing -- Debt Financing -- The Irrelevance of Capital Structure in a Frictionless Environment -- Creating Value through Financing Decisions -- Reducing Costs -- Dealing with Conflicts of Interest -- Creating New Opportunities for Stakeholders -- Financing Decisions in Practice -- How to Evaluate Levered Investments -- Finance and Corporate Strategy -- Mergers and Acquisitions -- Spin-offs -- Investing in Real Options
ER  -