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Test Bank for Corporate Finance: A Focused Approach, 7th Edition Michael C. Ehrhardt Eugene F. Brigham

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Test Bank for Corporate Finance: A Focused Approach, 7th Edition, Michael C. Ehrhardt, Eugene F. Brigham

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This is completed downloadable of Test Bank for Corporate Finance: A Focused Approach, 7th Edition, Michael C. Ehrhardt, Eugene F. Brigham

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ISBN-10 ‏ : ‎ 1337909742
ISBN-13 ‏ : ‎ 978-1337909747
Author: Michael C. Ehrhardt, Eugene F. Brigham

Relevant, engaging and packed with real-world examples, Ehrhardt/Brigham’s CORPORATE FINANCE: A FOCUSED APPROACH, Seventh Edition, emphasizes the financial concepts, skills and technological applications you need to succeed in today’s workplace. It covers the latest financial developments while teaching you how to maximize a firm’s value in a changing business environment. Completely up to date, the text thoroughly integrates the 2017 Tax Cut and Jobs Act throughout. Numerous hands-on activities and step-by-step instruction help you master the many features and functions of Excel spreadsheets. In addition, the MindTap Finance digital learning solution empowers you to learn on your own terms. Innovative learning tools coupled with the text’s focused presentation of corporate finance fundaments will help you quickly become “First in Finance.”

Table of Content:

Part 1: The Company and Its Environment
Chapter 1: An Overview of Financial Management and the Financial Environment
1-1 The Five-Minute MBA
1-2 Finance from 40,000 Feet Above
1-3 The Corporate Life Cycle
1-4 Governing a Corporation
1-5 An Overview of Financial Markets
1-6 Claims on Future Cash Flows: Types of Financial Securities
1-7 Claims on Future Cash Flows: The Required Rate of Return (the Cost of Money)
1-8 The Functions of Financial Institutions
1-9 Financial Markets
1-10 Overview of the U.S. Stock Markets
1-11 Trading in the Modern Stock Markets
1-12 Finance and the Great Recession of 2007
1-13 The Big Picture
e-Resources
Summary
Chapter 2: Financial Statements, Cash Flow, and Taxes
2-1 Financial Statements and Reports
2-2 The Balance Sheet
2-3 The Income Statement
2-4 Statement of Stockholders’ Equity
2-5 Statement of Cash Flows
2-6 Net Cash Flow
2-7 Free Cash Flow: The Cash Flow Available for Distribution to Investors
2-8 Performance Evaluation
2-9 Corporate Income Taxes
2-10 Personal Taxes
Summary
Chapter 3: Analysis of Financial Statements
3-1 Financial Analysis
3-2 Profitability Ratios
3-3 Asset Management Ratios
3-4 Liquidity Ratios
3-5 Debt Management Ratios
3-6 Market Value Ratios
3-7 Trend Analysis, Common Size Analysis, and Percentage Change Analysis
3-8 Tying the Ratios Together: The DuPont Equation
3-9 Comparative Ratios and Benchmarking
3-10 Uses and Limitations of Ratio Analysis
3-11 Looking beyond the Numbers
Summary
Part 2: Fixed Income Securities
Chapter 4: Time Value of Money
4-1 Time Lines
4-2 Future Values
4-3 Present Values
4-4 Finding the Interest Rate, I
4-5 Finding the Number of Years, N
4-6 Perpetuities
4-7 Annuities
4-8 Future Value of an Ordinary Annuity
4-9 Future Value of an Annuity Due
4-10 Present Value of Ordinary Annuities and Annuities Due
4-11 Finding Annuity Payments, Periods, and Interest Rates
4-12 Uneven, or Irregular, Cash Flows
4-13 Future Value of an Uneven Cash Flow Stream
4-14 Solving for I with Irregular Cash Flows
4-15 Semiannual and Other Compounding Periods
4-16 Fractional Time Periods
4-17 Amortized Loans
4-18 Growing Annuities
Summary
Chapter 5: Bonds, Bond Valuation, and Interest Rates
5-1 Who Issues Bonds?
5-2 Key Characteristics of Bonds
5-3 Bond Valuation
5-4 Changes in Bond Values over Time
5-5 Bonds with Semiannual Coupons
5-6 Bond Yields
5-7 The Pre-Tax Cost of Debt: Determinants of Market Interest Rates
5-8 The Risk-Free Interest Rate: Nominal (rRF) and Real (r*)
5-9 The Inflation Premium (IP)
5-10 The Maturity Risk Premium (MRP)
5-11 The Default Risk Premium (DRP)
5-12 The Liquidity Premium (LP)
5-13 The Term Structure of Interest Rates
5-14 Financing with Junk Bonds
5-15 Bankruptcy and Reorganization
Summary
Part 3: Stocks and Options
Chapter 6: Risk and Return
6-1 Investment Returns and Risk
6-2 Measuring Risk for Discrete Distributions
6-3 Risk in a Continuous Distribution
6-4 Using Historical Data to Estimate Risk
6-5 Risk in a Portfolio Context
6-6 The Relevant Risk of a Stock: The Capital Asset Pricing Model (CAPM)
6-7 The Relationship between Risk and Return in the Capital Asset Pricing Model
6-8 The Efficient Markets Hypothesis
6-9 The Fama-French Three-Factor Model
6-10 Behavioral Finance
6-11 The CAPM and Market Efficiency: Implications for Corporate Managers and Investors
Summary
Chapter 7: Corporate Valuation and Stock Valuation
7-1 Legal Rights and Privileges of Common Stockholders
7-2 Classified Stock and Tracking Stock
7-3 Stock Market Reporting
7-4 Valuing Common Stocks – Introducing the Free Cash Flow (FCF) Valuation Model
7-5 The Constant Growth Model: Valuation When Expected Free Cash Flow Grows at a Constant Rate
7-6 The Multistage Model: Valuation When Expected Short-Term Free Cash Flow Grows at a Nonconstant R
7-7 Application of the FCF Valuation Model to MicroDrive
7-8 Do Stock Values Reflect Long-Term or Short-Term Cash Flows?
7-9 Value-Based Management: Using the Free Cash Flow Valuation Model to Identify Value Drivers
7-10 Why Are Stock Prices So Volatile?
7-11 Dividend Valuation Models
7-12 The Market Multiple Method
7-13 Comparing the FCF Valuation Model, the Dividend Growth Model, and the Market Multiple Method
7-14 Preferred Stock
Summary
Chapter 8: Financial Options and Applications in Corporate Finance
8-1 Overview of Financial Options
8-2 The Single-Period Binomial Option Pricing Approach
8-3 The Single-Period Binomial Option Pricing Formula
8-4 The Multi-Period Binomial Option Pricing Model
8-5 The Black-Scholes Option Pricing Model (OPM)
8-6 The Valuation of Put Options
8-7 A pplications of Option Pricing in Corporate Finance
Summary
Part 4: Projects and Their Valuation
Chapter 9: The Cost of Capital
9-1 The Weighted Average Cost of Capital
9-2 Choosing Weights for the Weighted Average Cost of Capital
9-3 The Cost of Debt
9-4 Cost of Preferred Stock, rps
9-6 Using the CAPM to Estimate the Costof Common Stock, rs
9-7 Using the Dividend Growth Approach to Estimate the Cost of Common Stock
9-8 The Weighted Average Cost of Capital (WACC)
9-9 Adjusting the Cost of Equity for Flotation Costs
9-10 Privately Owned Firms and Small Businesses
9-11 The Divisional Cost of Capital
9-12 Estimating the Cost of Capital for Individual Projects
9-13 Managerial Issues and the Cost of Capital
Summary
Chapter 10: The Basics of Capital Budgeting: Evaluating Cash Flows
10-1 An Overview of Capital Budgeting
10-2 The First Step in Project Analysis
10-3 Net Present Value (NPV)
10-4 Internal Rate of Return (IRR)
10-5 Modified Internal Rate of Return (MIRR)
10-6 Profitability Index (PI)
10-7 Payback Period
10-8 How to Use the Different Capital Budgeting Methods
10-9 Other Issues in Capital Budgeting
Summary
Chapter 11: Cash Flow Estimation and Risk Analysis
11-1 Identifying Relevant Cash Flows
11-2 Analysis of an Expansion Project
11-3 Risk Analysis in Capital Budgeting
11-4 Measuring Stand-Alone Risk
11-5 Sensitivity Analysis
11-6 Scenario Analysis
11-7 Monte Carlo Simulation Analysis
11-8 Project Risk Conclusions
11-9 Replacement Analysis
11-10 Phased Decisions and Decision Trees
11-11 Other Real Options
Summary
Appendix 11A: Depreciation for Tax Purposes
Part 5: Corporate Valuation and Governance
Chapter 12: Corporate Valuation and Financial Planning
12-1 Overview of Financial Planning
12-2 Financial Planning at MicroDrive Inc.
12-3 Forecasting Operations
12-4 Evaluating MicroDrive’s Strategic Initiatives
12-5 Projecting MicroDrive’s Financial Statements
12-6 Analysis and Selection of a Strategic Plan
12-7 The CFO’s Model
12-8 Additional Funds Needed (AFN) Equation
12-9 Forecasting When the Ratios Change
Summary
Chapter 13: Corporate Governance
13-1 Agency Conflicts
13-2 Corporate Governance
13-3 Employee Stock Ownership Plans (ESOPs)
Summary
Part 6: Cash Distributions and Capital Structure
Chapter 14: Distributions to Shareholders: Dividends and Repurchases
14-1 An Overview of Cash Distributions
14-2 Procedures for Cash Distributions
14-3 Cash Distributions and Firm Value
14-4 Clientele Effect
14-5 Signaling Hypothesis
14-6 Implications for Dividend Stability
14-7 Setting the Target Distribution Level: The Residual Distribution Model
14-8 The Residual Distribution Model in Practice
14-9 A Tale of Two Cash Distributions: Dividends versus Stock Repurchases
14-10 The Pros and Cons of Dividends and Repurchases
14-11 Other Factors Influencing Distributions
14-12 Summarizing the Distribution Policy Decision
14-13 Stock Splits and Stock Dividends
14-14 Dividend Reinvestment Plans
Summary
Chapter 15: Capital Structure Decisions
15-1 An Overview of Capital Structure
15-2 Business Risk and Financial Risk
15-3 Capital Structure Theory: The Modigliani and Miller Models
15-4 Capital Structure Theory: Beyond the Modigliani and Miller Models
15-5 Capital Structure Evidence and Implications
15-6 Estimating the Optimal Capital Structure
15-7 Anatomy of a Recapitalization
15-8 Risky Debt and Equity as an Option
15-9 Managing the Maturity Structure of Debt
Summary
Part 7: Managing Global Operations
Chapter 16: Supply Chains and Working Capital Management
16-1 Overview of Supply Chain Management
16-2 Using and Financing Operating Current Assets
16-3 The Cash Conversion Cycle
16-4 Inventory Management
16-5 Receivables Management
16-6 Accruals and Accounts Payable (Trade Credit)
16-7 The Cash Budget
16-8 Cash Management and the Target Cash Balance
16-9 Cash Management Techniques
16-10 Managing Short-Term Investments
16-11 Short-Term Bank Loans
16-12 Commercial Paper
16-13 Use of Security in Short-Term Financing
Summary
Chapter 17: Multinational Financial Management
17-1 Multinational, or Global, Corporations
17-2 Multinational versus Domestic Financial Management
17-3 Exchange Rates
17-4 The Fixed Exchange Rate System
17-5 Floating Exchange Rates
17-6 Government Intervention in Foreign Exchange Markets
17-7 Other Exchange Rate Systems: No Local Currency, Pegged Rates, and Managed Floating Rates
17-8 Forward Exchange Rates and Risk Management
17-9 Interest Rate Parity
17-10 Purchasing Power Parity
17-11 Inflation, Interest Rates, and Exchange Rates
17-12 International Money and Capital Markets
17-13 Multinational Capital Budgeting
17-14 International Capital Structures
17-15 Multinational Working Capital Management
Summary
Appendix A: Solutions to Self-Test Problems
Appendix B: Answers to End-of-Chapter Problems
Appendix C: Selected Equations
Glossary
Name Index
Subject Index

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Test Bank for Corporate Finance: A Focused Approach, 7th Edition Michael C. Ehrhardt Eugene F. Brigham

This is completed downloadable of Test Bank for Corporate Finance: A Focused Approach, 7th Edition, Michael C. Ehrhardt, Eugene F. Brigham

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