Fundamentals of financial management, 13th ed.

Abstract

Financial management continues to change at a rapid pace. Advancements are occurring not only in the theory of financial management but also in its real-world practice. One result has been for financial management to take on a greater strategic focus, as managers struggle to create value within a corporate setting. In the process of value creation, financial managers are increasingly supplementing the traditional metrics of performance with new methods that encourage a greater role for uncertainty and multiple assumptions. Corporate governance issues, ethical dilemmas, conflicting stakeholder claims, a downsized corporate environment, the globalization of finance, e-commerce, strategic alliances, the growth of outsourcing, and a host of other issues and considerations now permeate the landscape of financial decision making. It is indeed a time of both challenge and opportunity. The purpose of the thirteenth edition of Fundamentals of Financial Management is to enable you to understand the financial decision-making process and to interpret the impact that financial decisions will have on value creation. The book, therefore, introduces you to the three major decision-making areas in financial management: the investment, financing, and asset management decisions.