Corporate Finance: A Valuation Approach by Simon Z. Benninga Oded H. Sarig   A complete, consistent, and integrated approach to the valuation of companies   Examination copy from Irwin/McGraw-Hill (faculty only)   Buy the book from Amazon:

You teach a case course or a valuation course. Your students have had a principles course; in your course they have to apply the theory to cases and valuation problems. Up to now, there was no text to show your students how to convert theory to practice. Corporate Finance: A Valuation Approach fills this gap.

Corporate Finance: A Valuation Approach is the only text which gives students an integrated, structured approach to valuation. It combines financial theory, spreadsheet techniques, and accounting aspects of valuation with easy-to-follow examples. Students will learn:

* How to build pro forma financial statements
* How to use pro formas to project cash flows
* How to estimate the cost of capital
* How to account for the valuation effects of capital structure
* How to use multiples in valuation
* How to value debt
* How to value warrants and convertible bonds

In Corporate Finance: A Valuation Approach all of the theory, techniques and tools are illustrated with easy-to-follow examples which use actual data.

• Extensively classroom tested in both case and valuation courses.
• Incorporates all aspects of valuation.
• Instructor’s package includes case solutions.

Table of contents

1. Financial valuation tools
2. Using financial reporting information
3. Valuation: processes and principles
4. Building pro forma financial statements
5. Analyzing the firm’s environment
6. Analyzing the firm’s operations
7. J.M. Smucker—projecting financial performance
8. Capital structure and the cost of capital
9. Estimating discount rates
10. Valuation by multiples
11. Valuing the firm’s debt
12. The valuation of convertible securities
13. Valuing equity cash flows directly
14. Final remarks

Instructor’s package for Corporate Finance: A Valuation Approach includes:

* Worked-out solutions to match the book’s approach for 7 major valuation cases:

• "The Super Project"
• "Brown-Forman Distillers Corporation"
• "E.I. Du Pont de Nemours & Co. (1983)"
• "Gulf Oil Corporation"
• "Hampton Machine Tools"
• "Marriott Corporation: The Cost of Capital"
• "MRC Inc. (A)"
• "Atlantic Southeast Airlines"

* Solutions to end-of-chapter problems
* Excel spreadsheets for every numerical example and for all the end-of-chapter problems

Course materials to accompany Corporate Finance: A Valuation Approach

Corporate Finance: A Valuation Approach has been extensively class-tested. We have developed a set of materials for courses which use the book. These materials include lecture slides, suggested course syllabi, sample exams with answers, and other miscellaneous materials. Click here to see some these materials.

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