Corporate Finance (Third Edition)

朱叶Peking University Press · ChinaAug 2025

Rating 4.1
Word count
395K words
Chapters
99
ISBN
9787301276310

Tags

Finance and Economics Corporate FinanceBusiness ManagementBusiness DecisionsInvestment DecisionsDuPont AnalysisWorking CapitalFinancing DecisionsFinancial PlanningCapital StructureValue Assessment

Summary

The third edition of Corporate Finance takes the "first principle of corporate finance" as its throughline, focusing on valuation, investment decisions, financing decisions, financial planning, working capital management, and selected special topics in corporate finance. This edition expands and reorganizes several chapters in the investment decisions section, adds content on "target capital structure," "dividend payment methods and procedures," and "restatement of financial statements and improvement of the DuPont analysis," making the book more responsive to problems in actual management and remedying the disconnect between classroom learning and practice. One third of the cases have been updated, end-of-chapter exercises are more targeted, and answers to some exercises are provided. In the third edition, the former "Profile" and "Knowledge" columns have been converted to QR-code reading, better suited to readers' mobile reading and learning habits.

Editor's review

As the third edition of a corporate finance textbook, this revision shows its sincerity in structure rather than slogans. Taking the "first principle of corporate finance" as its throughline, the book links valuation, investment decisions, financing decisions, financial planning, and working capital management into a logical chain, so readers are less likely to get lost between chapters. The third edition reorganizes the investment decisions section, adds content on target capital structure and dividend payment methods and procedures, and improves the restatement of financial statements and the DuPont analysis. These adjustments bring theory closer to real management problems. One third of the cases have been updated, end-of-chapter exercises are more targeted, and answers to some exercises are included, making it easier for self-learners to check their understanding. The Profile and Knowledge columns have become QR-code reading, suited to fragmented mobile learning. Overall, this is a textbook that emphasizes the connection between classroom knowledge and practice, suitable for working through chapter by chapter and practicing repeatedly with exercises and cases rather than reading through in one sitting.

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Reading tips

  1. Read in chapter order, and after each chapter do the end-of-chapter exercises before checking the answers.
  2. When reaching investment decisions and capital structure, plug in a company you know and work through the calculations.
  3. Use the QR-code columns as supplementary material, reading them in scattered moments during commutes rather than all at once.
  4. For the cases, form your own judgment first and then compare it with the book's analysis instead of going straight to the conclusion.

About the publisher

Peking University Press China · Founded in 1979

Peking University Press is a comprehensive university press whose publishing areas cover classical literature, popular science, social culture, world history, Western philosophy, and culture. Its catalogue contains 6,031 titles, with representative books including A Dream of Red Mansions, Relativity: The Special and General Theory (15th Edition) (with Einstein's classic papers on unified field theory and other topics), Elements, Conics, The Aristocratic Families of the Eastern Jin, The Philosophy of Mythology (Volume I), The Philosophy of Mythology (Volume II), and The Origin of Continents and Oceans. Representative authors include Cao Xueqin, Zhou Ruchang, Albert Einstein, Euclid, Apollonius, Tian Yuqing, Schelling, and Xian Gang. The press has developed distinctive strengths in classical Chinese literature and in the translation of Western philosophical classics, while also covering scientific classics and social and cultural studies. As public information is limited, this description is based only on the books in the catalogue and offers no further extrapolation.

Contents

  1. 版权信息
  2. 第三版前言
  3. 第二版前言
  4. 前言
  5. 第一章 导论
  6. 第一节 公司的概念
  7. 第二节 公司的金融活动及其价值创造过程
  8. 第三节 财务目标和代理冲突
  9. 第四节 公司金融理论发展脉络
  10. 本章小结
  11. 第二章 现值和价值评估
  12. 第一节 现值和贴现率
  13. 第二节 现值的计算
  14. 第三节 价值评估
  15. 本章小结
  16. 第三章 风险和收益
  17. 第一节 收益和风险概念
  18. 第二节 投资组合理论
  19. 第三节 资本资产定价模型
  20. 本章小结
  21. 第四章 资本预算的基本技术
  22. 第一节 传统资本预算方法
  23. 第二节 自由现金流估算
  24. 第三节 贴现率计算和选择
  25. 第四节 资本预算的运用
  26. 本章小结
  27. 第五章 投资风险调整方法
  28. 第一节 项目风险调整的基本分析框架
  29. 第二节 分子策略
  30. 第三节 分母策略
  31. 本章小结
  32. 第六章 实物期权和资本预算
  33. 第一节 净现值法则面临的挑战
  34. 第二节 金融期权及其价值评估
  35. 第三节 实物期权对资本预算的影响
  36. 本章小结
  37. 第七章 长期融资
  38. 第一节 资本市场有效性
  39. 第二节 普通股
  40. 第三节 公司债券
  41. 第四节 优先股
  42. 第五节 公司长期融资决策原则
  43. 本章小结
  44. 第八章 资本结构
  45. 第一节 税收、破产成本和资本结构
  46. 第二节 管理者动机、信息不对称和资本结构
  47. 第三节 目标资本结构定义、设计和管理
  48. 第四节 融资决策和资本预算
  49. 本章小结
  50. 第九章 股利政策
  51. 第一节 股利的发放方式和程序
  52. 第二节 股利政策类型和决定
  53. 第三节 传统股利政策的重要理论
  54. 第四节 现代股利政策理论
  55. 本章小结
  56. 第十章 会计报表分析
  57. 第一节 会计资料的阅读与理解
  58. 第二节 会计分析
  59. 第三节 财务分析方法
  60. 第四节 会计报表重构和杜邦分析法改进
  61. 本章小结
  62. 第十一章 公司财务规划
  63. 第一节 公司财务目标
  64. 第二节 经营现金流预测和投资规划
  65. 第三节 融资规划
  66. 第四节 编制预计财务报表
  67. 本章小结
  68. 第十二章 短期财务计划和短期融资
  69. 第一节 营运资本和营运资本政策
  70. 第二节 短期融资
  71. 本章小结
  72. 第十三章 流动资产管理
  73. 第一节 现金和有价证券管理
  74. 第二节 应收账款管理
  75. 本章小结
  76. 第十四章 并购
  77. 第一节 并购的类型和动因
  78. 第二节 并购的基本流程
  79. 第三节 杠杆收购
  80. 第四节 并购理论
  81. 第五节 反收购布防
  82. 本章小结
  83. 第十五章 公司治理
  84. 第一节 第一代代理问题
  85. 第二节 第二代代理问题
  86. 第三节 公司治理机制
  87. 第四节 绩效评估及其误区
  88. 本章小结
  89. 第十六章 财务危机和财务预警
  90. 第一节 财务危机的界定和处置
  91. 第二节 破产清算和破产改组的相关问题
  92. 第三节 财务预警
  93. 本章小结
  94. 第十七章 衍生工具和风险管理
  95. 第一节 远期合约和期货合约
  96. 第二节 期权合约
  97. 第三节 互换合约
  98. 本章小结
  99. 部分习题参考答案

FAQ

What are the main changes in the third edition compared with the first two? The third edition reorganizes the chapters in the investment decisions section, adds content on target capital structure and dividend payment methods and procedures, and improves the restatement of financial statements and the DuPont analysis. About one third of the cases have been updated, end-of-chapter exercises are more targeted, and answers to some exercises are provided. The Profile and Knowledge columns have been converted to QR-code reading, making mobile learning easier.
Do the exercises have answers? Can self-learners check their work? The third edition provides answers to some exercises, which self-learners can use to check basic understanding. Not all exercises have answers, however, so it is best to complete them independently first and then compare your reasoning with the provided answers. For questions without answers, you can work them out using the worked examples and case analyses in the chapters, or discuss them with classmates.
Will the QR-code column content interfere with normal reading? No. The Profile and Knowledge columns have been converted to QR codes to suit mobile reading habits, while the logical thread of the main text remains complete. Readers can read the main text first and treat the columns as extended material, scanning them when they need supplementary background or cases; this does not affect the overall pace of working through the chapters.

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About the author

朱叶 Author

Zhu Ye is an author about whom limited public information is available; details such as nationality, dates of birth and death, and biographical background have not been clearly recorded. According to the library's holdings, Zhu Ye has one work, Corporate Finance (Third Edition), which is classified under finance and economics and deals with the professional field of corporate finance, suggesting the nature of a textbook or systematic reader. It can therefore be inferred that Zhu Ye's writing focuses on finance, financial management, and corporate financing, with an emphasis on organizing knowledge frameworks and explaining concepts for teaching or professional study. Given the scarcity of verifiable author background, it is difficult to assess academic experience or professional positions, and readers may focus on the work itself: the appearance of a "Third Edition" indicates that the content has been revised and refined and has a certain continuity and basis of use. Overall, Zhu Ye is an author known for writing on corporate finance, offering finance readers a structured body of learning material.