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Fundamentals of Financial Management, Concise 7th Edition 7th Edition

3.7 out of 5 stars 55 customer reviews
ISBN-13: 978-0538477116
ISBN-10: 0538477113
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PART I: INTRODUCTION TO FINANCIAL MANAGEMENT. 1. An Overview of Financial Management. 2. Financial Markets and Institutions. PART II: FUNDAMENTAL CONCEPTS IN FINANCIAL MANAGEMENT. 3. Financial Statements, Cash Flow, and Taxes. 4. Analysis of Financial Statements. Web Appendix 4A: Common Size and Percent Change Analyses. 5. Time Value of Money. Web Appendix 5A: Continuous Compounding and Discounting. Web Appendix 5B: Growing Annuities. PART III: FINANCIAL ASSETS. 6. Interest Rates. 7. Bonds and Their Valuation. Web Appendix 7A: Zero Coupon Bonds. Web Appendix 7B: Bond Risk and Duration. Web Appendix 7C: Bankruptcy and Reorganization. 8. Risk and Rates of Return. Web Appendix 8A: Calculating Beta Coefficients. 9. Stocks and Their Valuation. Appendix 9A: Stock Market Equilibrium. PART IV: INVESTING IN LONG-TERM ASSETS: CAPITAL BUDGETING. 10. The Cost of Capital. Web Appendix 10A: The Cost of New Common Stock and WACC. 11. The Basics of Capital Budgeting. 12. Cash Flow Estimation and Risk Analysis. Appendix 12A: Tax Depreciation. Web Appendix 12B: Refunding Operations. Web Appendix 12C: Using the CAPM to Estimate the Risk-Adjusted Cost of Capital. Web Appendix 12D: Techniques for Measuring Beta Risk. Web Appendix 12E: Comparing Mutually Exclusive Projects with Unequal Lives. Web Appendix 12F: Real Options: Investment Timing, Growth, and Flexibility. PART V: CAPITAL STRUCTURE AND DIVIDEND POLICY. 13. Capital Structure and Leverage. Web Appendix 13A: Degree of Leverage. 14. Distributions to Shareholders: Dividends and Share Repurchases. Web Appendix 14A: An Example: The Residual Dividend Model. PART VI: WORKING CAPITAL MANAGEMENT, FORECASTING, AND MULTINATIONAL FINANCIAL MANAGEMENT. 15. Working Capital Management. Web Appendix 15A: Inventory Management. Web Appendix 15B: Short-Term Loans and Bank Financing. 16. Financial Planning and Forecasting. Web Appendix 16A: Forecasting Financial Requirements When Financial Ratios Change. 17. Multinational Financial Management. APPENDIX A: Solutions to Self-Test Questions and Problems. APPENDIX B: Answers to Selected End-of-Chapter Problems. APPENDIX C: Selected Equations and Tables.

About the Author

Dr. Eugene F. Brigham is Graduate Research Professor Emeritus at the University of Florida, where he has taught since 1971. Dr. Brigham received his M.B.A. and Ph.D. from the University of California-Berkeley and his undergraduate degree from the University of North Carolina. Prior to joining the University of Florida, Dr. Brigham held teaching positions at the University of Connecticut, the University of Wisconsin, and the University of California-Los Angeles. Dr. Brigham has served as president of the Financial Management Association and has written many journal articles on the cost of capital, capital structure, and other aspects of financial management. He has authored or co-authored ten textbooks on managerial finance and managerial economics that are used at more than 1,000 universities in the United States and have been translated into 11 languages worldwide. He has testified as an expert witness in numerous electric, gas, and telephone rate cases at both federal and state levels. He has served as a consultant to many corporations and government agencies, including the Federal Reserve Board, the Federal Home Loan Bank Board, the U.S. Office of Telecommunications Policy, and the RAND Corporation. Dr. Brigham continues to teach, consult, and complete research in addition to his academic writing. He spends his spare time on the golf course, enjoying time with his family and dogs, and tackling outdoor adventure activities, such as biking through Alaska.

Joel F. Houston is the John B. Hall Professor of Finance at the University of Florida. He received his M.A. and Ph.D. from the Wharton School at the University of Pennsylvania, and his undergraduate degree from Franklin and Marshall College. Prior to his appointment at the University of Florida, Dr. Houston was an Economist at the Federal Reserve Bank of Philadelphia. Joel's research is primarily in the areas of corporate finance and financial institutions, and his work has been published in a number of top journals including THE JOURNAL OF FINANCE, JOURNAL OF FINANCIAL ECONOMICS, JOURNAL OF BUSINESS, JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS AND FINANCIAL MANAGEMENT. Professor Houston also currently serves as an Associate Editor for the JOURNAL OF MONEY, CREDIT AND BANKING, the JOURNAL OF FINANCIAL SERVICES RESEARCH and the JOURNAL OF FINANCIAL ECONOMIC POLICY. Since arriving at the University of Florida in 1987, Joel has received 19 teaching awards, and has been actively involved in both undergraduate and graduate education. In addition to co-authoring leading textbooks in financial management, Dr. Houston has participated in management education programs for the PURC/World Bank Program, Southern Company, Exelon Corporation and Volume Services America. Joel enjoys playing golf and tennis and spending time with his wife (Sherry) and two children (Chris and Meredith). He is an avid sports fan who follows the Florida Gators, and the Pittsburgh Steelers, Pirates and Penguins.
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Product Details

  • Hardcover: 688 pages
  • Publisher: South-Western College Pub; 7th edition (January 26, 2011)
  • Language: English
  • ISBN-10: 0538477113
  • ISBN-13: 978-0538477116
  • Product Dimensions: 11 x 8.7 x 1.1 inches
  • Shipping Weight: 3.6 pounds (View shipping rates and policies)
  • Average Customer Review: 3.7 out of 5 stars  See all reviews (55 customer reviews)
  • Amazon Best Sellers Rank: #15,671 in Books (See Top 100 in Books)

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Customer Reviews

Top Customer Reviews

Format: Hardcover Verified Purchase
This book was a required text for a financial management class in which the class was geared as an introductory course to finance. I found this book extremely difficult to understand as a beginner in this subject area-- the language and vocabulary used was written with the assumption that the reader has a background in finance. Many financial terms were undefined or would be explained only in the fine print of the text. I found myself constantly looking online to define words or better explain concepts because the text did a poor job. Also, went referencing figures and tables in the text, the author would analyze a table and explain it but the table would be on the next page so it made no logical sense... how can I possibly read about and reference the table at the same time? The authors of this book obviously have been around this information far too long and can no longer communicate at an introductory level.
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Fundamentals of Financial Management is geared toward courses for people either forming the base for further study in finance or for courses in finance for non-financial managers (which applies to me). If you are going to be in any type of upper management, especially a CEO or executive vice president, you'll need to have a basis for how financials work (as well as if you are in business for yourself).

I am finishing up a course in my PhD program that uses this as the assigned textbook. For the most part, explanations are thorough and I really appreciate the samples of excel calculations as well as financial calculator use. Though it is a textbook, for the most part, it's not that difficult to read.

My only complaint is that some of the explanations of certain concepts receive little attention in the chapter, but a detailed question is asked in the problems at the end of the chapter based on that concept. There were a couple of times that I had to look to external sources to figure something out from the book. Now, that isn't necessarily outlandish for doctoral courses but someone working on a bachelor's degree or a master's degree shouldn't have to do that.

Overall, it's a good textbook for the basics of the financial industry. If I was to teach an introductory financial course (not bloody likely, that's not my strong suit), I would consider using this book.
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Format: Hardcover Verified Purchase
This book provides the finance concepts you will experience in a graduate MBA program. It is relatively easy to understand, but it is best used in a class where you also have a teacher lecturing. It only provides half of the answers in the back of the book, and does not explain how it calculated those answers. It can be difficult for someone who has never taken a finance course before.
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Format: Hardcover Verified Purchase
I found Finance to be a really difficult subject. The book was really useful in breaking mostly everything down to make it understandable; however, I also needed my professor to explain a lot of it as well, as the book was still hard to comprehend sometimes for an entry level class/textbook.
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Format: Hardcover Verified Purchase
Very few solved examples, extremely tough questions, concepts are not explained clearly. Does not help at all to understand financial concepts.
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Format: Kindle Edition Verified Purchase
I would recommend considering the physical book if you are using this text for a class. With my Kindle (PC), there weren't concise page numbers, instead just location numbers inside the book. This made navigation difficult, making search the only way to pinpoint headings and important topics. If the professor assigns a specific page it is inconvenient.
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Format: Hardcover Verified Purchase
As a basic intro to Finance this book is fairly good. The problem is the Aplia homework requires you to figure out things that the book doesn't teach you how to do... so you need to spend a ton of time and frustration trying to google what it is looking for.

The Aplia subscription is also very expensive and mandatory if your professor decides to use it... $125 just to be able to submit my homework for the semester. (And that does not include book price, it is just for access to the Aplia site.) It is designed to force your grade lower than it should have been on the first attempt to give the appearance of students progressing to the professor. Occasionally all answer choices to a question will be wrong as well... so you basically have to guess what answer it wants.
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Format: Hardcover Verified Purchase
I used this book for a beginners finance class and it was like meeting death...a couple of times. Case in point, you are on page 181 and it references data from page 29. Formulas in the book out of no where and no description of what they mean and how figures were calculated. If anything, this book is for those who know finance and just need a brief refresher. This book was terrible and I am not even sure how the publishing company published such crap from these two authors.

No offense to Amazon, they got me the book on time however the way this book is laid out and some of the verbiage used is not seamless at all.
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Fundamentals of Financial Management, Concise 7th Edition
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