Resumen: Essentials of Managerial Finance is intended for use in introductory finance courses. The book begins with a discussion of basic concepts, including security markets, interest rates, time value of money, risk analysis, and the basics of security valuation. Subsequent chapters explain how financial managers can help maximize their firms' values by improving decisions in such areas as capital budgeting, choice of capital structure, and working capital management. This organization has three important advantages:
1. Early in the book we explain how financial markets operate and how security prices are determined. This shows students how managerial finance can affect the value of the firm. Also, early coverage of such key concepts as time value, risk analysis, and valuation techniques permits their use and reinforcement throughout the remainder of the book.
2. The book is structured around markets and valuation, which helps students see how the various topics relate to one another.
3. Most students—even those who do not plan to major in finance—are interested in stock and bond valuation, rates of return, and other similar topics. Because learning is a function of interest and motivation, and because Essentials begins by showing the relationships between security markets, stock values, and managerial finance, this organization works well from a pedagogic standpoint.
Now in its thirteenth edition, Essentials has grown over the course of time, especially with respect to the long list of practical and theoretical developments it covers. On the recommendations of reviewers, we have restructured the discussion of a few topics that have been melded into Essentials that, because of level or simply the primary objectives of an introductory course in managerial finance, might be considered more appropriate for a more advanced book. We did not categorically omit these topics; rather, we placed some of them—such as modified internal rate of return and using interest tables to solve time value of money problems—in appendices to offer instructors the option of covering the topics in the course.

Índice: p. 793-808