New to This Edition

In revising Fundamentals of Corporate Finance we have improved the presentation and organization of key topics, added important new content, updated the text to reflect changes in market and business conditions since the first edition was written, improved key in-chapter pedagogical features, added to the number and quality of the end-of-chapter problem sets, and updated the ethics cases.

Improved Presentation and Organization

We have edited and extended discussions throughout the text in an effort to improve the pedagogical presentation of key topics. We also have rearranged the order of some material to improve the effectiveness of the presentation. For example, the discussion of the stock market (Section 2.4 in the first edition) has been incorporated into the section on the market for stocks in Chapter 9 and new content on international stock markets has been added to this discussion. This change improves the flow of the text and provides a more natural lead-in to the stock valuation concepts that are subsequently discussed in Chapter 9. Also, material on capital market efficiency (Section 8.1 in the first edition) has being moved to the initial discussion of financial markets in Chapter 2. This change introduces the student to the concept of market efficiency earlier in the book and improves the focus of Chapter 8, which discusses bond valuation and interest rates.

New Content

There have been numerous additions to the content of the book. Some of the most ...

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