Fundamentals of Corporate Finance

Fundamentals of Corporate Finance – Randolph W. Westerfield

Fundamentals of Corporate Finance, by Stephen A. Ross, Randolph W. Westerfield and Bradford D. Jordan, is one of the most widely used introductory textbooks in corporate finance, adopted by universities and business schools around the world. It offers students a clear, practical introduction to the key concepts and tools of financial management.

The book is built around the central idea that the goal of financial management is to create value. It begins with an overview of corporate finance and the financial environment, then introduces financial statements, cash flow and financial analysis. Students learn about the time value of money, including present and future values, annuities and loan amortization, and how these concepts are used to value bonds and stocks.

Subsequent chapters cover capital budgeting, including net present value, internal rate of return and other investment criteria, as well as making capital investment decisions and analyzing projects. The book then explores risk and return, the cost of capital, capital structure, dividend policy, short-term financial planning, working capital management and topics such as international corporate finance and mergers.

Throughout, the authors use clear explanations, real-world examples, worked problems and end-of-chapter questions to help students build understanding and practical skills. Depending on the edition, the book may have been accompanied by online resources or access codes, which may not be available with pre-owned copies.

Clear and comprehensive, Fundamentals of Corporate Finance is an essential textbook for undergraduate and MBA students, and a useful reference for professionals. As a pre-owned textbook, it may contain notes or highlighting, and students should check which edition their course requires.