Corporate Financial Management [Hardcover]

Douglas R. Emery (Author), John D. Finnerty (Author)

Book Description

ISBN-10: 0134335333 | ISBN-13: 978-0134335339 | Publication Date: January 15, 1997 | Edition: 1st

MBA and intermediate undergraduate-level corporate finance or financial management courses. This book, from the former editors of FMA's Journal of Financial Management, is the first to integrate the major developments made in finance in the last twenty years, such as principal-agent considerations, asymmetric information considerations, and contingent claims analysis. The format parallels that of competitors, but the new material is woven into, and enriches, the traditional presentations. This is also the first corporate finance textbook to truly marry practice with theory, by having a full-time practitioner author.

Editorial Reviews

From the Publisher

This book, from the current editors of FMA's journal Financial Management, is the first to integrate the major development made in finance in the last twenty years, such as principal-agent considerations, asymmetric information considerations, and contingent claims analysis. The format parallels that of competitors, but the new material is woven into, and enriches, the traditional presentations. This is also the first corporate finance textbook to truly marry practice with theory, by having a full-time practitioner author. Examples come from the real world, and include the Netscape IPO (initial public offering), a financial statements analysis of Annheuser-Busch, Sun's offer to buy Apple Computer, and the Barings Bank Failure.

From the Back Cover

This is the first corporate finance book to truly marry practice with theory, by having a full-time practitioner author. Integrates the major developments made in finance in the last twenty years, such as principal-agent considerations, asymmetric information considerations, and contingent claims analysis. For advanced finance students and practicing financial analysts and planners.

See all Editorial Reviews

Product Details

• Hardcover: 999 pages
• Publisher: Prentice Hall; 1st edition (January 15, 1997)
• Language: English
• ISBN-10: 0134335333
• ISBN-13: 978-0134335339
• Product Dimensions: 10.1 x 8.4 x 2 inches
• Shipping Weight: 4.8 pounds
• Average Customer Review: 2.8 out of 5 stars  See all reviews (11 customer reviews)
• Amazon Best Sellers Rank: #1,335,726 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

3 of 3 people found the following review helpful:

5.0 out of 5 stars Best Corporate Finance Text available, March 21, 2007

By 

C. Hodges "bufordshighway" (Atlanta metro) - See all my reviews
(REAL NAME)   

This review is from: Corporate Financial Management (3rd Edition) (Paperback)

The third edition of EFS is the best corporate finance textbook/reference available. The text correctly does several things. First, it uses the Principles to tie the topics together. Second, the author's mix of academic and professional experience allows for a book that is both real world and theoretically correct. Third, the book's layout makes it user friendly.

I especially like the integration of agency issues and (real) options throughout the book.

Within the past year, I have taught from Brigham (et al), Ross (et al), Emery (et al) and reviewed Brealey (et al), Block and Hirt, Berk and Demarzo, and Smart (et al). I have Weaver and Weston, but have not reviewed it. Emery Finnerty and Stowe is easily the best textbook and reference. Brigham has dumbed down its text to the point where students do not have enough information to understand a topic. Ross and Brealey continue to write books of mostly theoretical correctness while ignoring usability and consistency. Berk and Demarzo is new, but trends to the Ross style.

The book is appropriate for senior, graduate, and corporate university classes. The book can be used for both core and major courses.

My only complaint as an instructor is the lack of supplemental materials (probably due to its low percent of market share) and relative lack of variation on end of chapter problems. End of chapter questions are excellent.

1 of 1 people found the following review helpful:

1.0 out of 5 stars Extremely difficult to extract knowledge from this book, August 2, 2009

By 

Tom Adkins "Doctoral student" (Moultrie, GA USA) - See all my reviews
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Amazon Verified Purchase

This review is from: Corporate Financial Management (3rd Edition) (Paperback)

I am just past half-way in my MBA program. I don't think I have ever encountered a more poorly written book in my academic career. In most every chapter, there is no "big picture" tie-in mentioned or hinted at. Each new paragraph (or new section) seems to just present more information. Attempting to learn about corporate finance by reading this book is like having someone feed you a meal one english pea at a time. Each nugget of knowledge is good, but you can't tell how anything is related. Also it seems that a different person wrote the questions at the end of each chapter. For example, I am trying to answer a question in Chapter 18 about dividend policy. The words "discretionary cash flow" are used in the question. But they are not used anywhere else in the book up to this point! I know this for a fact because I have both the printed copy and the PDF copy (which means I can let the computer search for terms for me). I am not angry at the authors or publishers of this book. But I beg any instructors who are considering this as a text book to use it only as a last resort.

5 of 7 people found the following review helpful:

4.0 out of 5 stars Great introductory level corporate finance book!, May 30, 2000

By 

Brian Duggan - See all my reviews

This review is from: Corporate Financial Management (Hardcover)

I used this book as an undergraduate at UW-Madison and a graduate at UVa. I found the material helpfull and easy to understand. Great for the undergraduate course, however it is not up to par for graduate level analysis.