Financial Management: Principles and Applications eBook, 8th Edition

Sheridan Titman all

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Financial Management: Principles and Applications eBook, 8th Edition

By Sheridan Titman, Tony Martin, Arthur J. Keown, John D. Martin
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Sheridan Titman all
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Financial Management is a total learning package that reflects the vitality of an ever-expanding discipline, building on the foundations of economics and accounting.

Adapted for the Australian market, students are presented with a cohesive, inter-related subject that they can use when approaching problems. Building on the strengths of the previous edition, this edition refines content, creating a modern teaching approach.

Five key principles are woven throughout the text using multiple teaching methods, forming a rationalised, coherent, integrated and intuitive problem-solving approach.

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Sheridan Titman holds the McAllister Centennial Chair in Financial Services at the University of Texas.

He has a B.S. from the University of Colorado and an M.S. and Ph.D. from Carnegie Mellon University. Prior to joining the faculty at the University of Texas, Professor Titman was a Professor at UCLA, the Hong Kong University of Science and Technology, and Boston College and spent the 1988–89 academic year in Washington, D.C., as the special assistant to the Assistant Secretary of the Treasury for Economic Policy. In addition, he has consulted for a variety of financial institutions and corporations.

He has served on the editorial boards of the leading academic finance and real estate journals, was an editor of the Review of Financial Studies, and was the founding editor of the International Review of Finance. He has served as President of the American Finance Association and the Western Finance Association, and as a director of the American Finance Association, the Asia Pacific Finance Association, the Western Finance Association, and the Financial Management Association and as the President of the Western Finance Association.

He has received a number of awards for his research excellence and is a Fellow of the Financial Management Association and a Research Associate of the National Bureau of Economic Research.

Tony Martin has been a lecturer in Finance for more than 20 years. He is currently a lecturer at La Trobe University in Melbourne and has previously lectured at RMIT University. He has a Bachelor of Science from Monash University and a Master of Finance from RMIT. Tony has authored a number of textbooks on corporate finance and financial institutions. His research interests include technical analysis, behavioural finance, evolutionary computing (as applied to the development of trading strategies) and teaching and learning of Finance.

Arthur J. Keown is the Department Head and R. B. Pamplin Professor of Finance at Virginia Polytechnic Institute and State University. He received his bachelor’s degree from Ohio Wesleyan University, his M.B.A. from the University of Michigan, and his doctorate from Indiana University.

An award-winning teacher, he is a member of the Academy of Teaching Excellence; has received five Certificates of Teaching Excellence at Virginia Tech, the W. E. Wine Award for Teaching Excellence, and the Alumni Teaching Excellence Award; and in 1999 received the Outstanding Faculty Award from the State of Virginia. Professor Keown is widely published in academic journals. His work has appeared in the Journal of Finance, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, the Journal of Financial Research, the Journal of Banking and Finance, the Journal of Portfolio Management, and many others.

Professor Keown is a Fellow of the Decision Sciences Institute, was a member of the Board of Directors of the Financial Management Association, and is the head of the finance department at Virginia Tech. In addition, he served as the co-editor of the Journal of Financial Research and as the co-editor of the Financial Management Association’s Survey and Synthesis.

John D. Martin holds the Carr P. Collins Chair in Finance in the Hankamer School of Business at Baylor University, where he teaches in the Baylor EMBA programs and has three times been selected as the outstanding teacher. John joined the Baylor faculty in 1998 after spending 17 years on the faculty of the University of Texas at Austin.

Over his career he has published over 50 articles in the leading finance journals, including papers in the Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Monetary Economics, and Management Science. His recent research has spanned issues related to the economics of unconventional energy sources, the hidden cost of venture capital, and the valuation of firms filing Chapter 11.

  • To enhance the relevance of the topics discussed, extensive use has been made of real-world examples.
  • Stock symbols are provided in square brackets following the names of companies listed on Australian or overseas stock exchanges. This enables students to easily recognise examples that deal with actual listed companies, and to look up stock information themselves if they wish.


Table of contents
  • Part 1 Introduction to Financial Management
  • 1 Getting started—Principles of finance
  • 2 Firms and the financial market
  • 3 Understanding financial statements, taxes and cash flows
  • 4 Financial analysis—Sizing up firm performance
  • Part 2 Valuation of Financial Assets
  • 5 The time value of money—The basics
  • 6 The time value of money—Annuities and other topics
  • 7 Risk and return—An introduction—History of financial market returns
  • 8 Risk and return—Capital market theory
  • 9 Debt valuation and interest rates
  • 10 Share valuation
  • Part 3 Capital Budgeting
  • 11 Investment decision criteria
  • 12 Analysing project cash flows
  • 13 Risk analysis and project evaluation
  • 14 The cost of capital
  • Part 4 Capital Structure and Dividend Policy
  • 15 Analysis and impact of leverage
  • 16 Capital-structure policy
  • 17 Dividend and share buyback policy
  • Part 5 Liquidity Management and Special Topics in Finance
  • 18 Financial forecasting and planning
  • 19 Working capital management
  • 20 International business finance
  • 21 Corporate risk management
  • Glossary
  • Organisation Index
  • Subject Index

Download the detailed table of contents from Financial Management: Principles and Applications