Publisher's Synopsis
Understand how financial markets, institutions, and management fit together
How do financial markets and institutions affect businesses and individuals? How do firms raise funds? How can you use markets and institutions to meet your own personal goals? To answer questions such as these, you need a broad understanding of financial markets, institutions, and management.
Ronald Melicher and Edgar Norton’s 12th Edition of Finance: Introduction to Institutions, Investments, and Management helps you understand and appreciate the interrelationships among the three different financial disciplines. The text not only equips you with a solid foundation of basic knowledge, concepts, and terms; it also offers insights into the practice of finance in large corporations, small businesses, and personal financial planning.
Now updated and revised, this 12th Edition features:
- A stronger emphasis on the four pillars of finance: money has time value, risk affects the level of expected returns, financial markets are efficient in pricing securities, and reputation matters.
- Additional material on business ethics, including corporate governance and investment practices.
- A stronger global focus, including sections on how monetary systems differ worldwide, how foreign exchange rates work and what causes them to change.
- Spreadsheet illustrations, which show how to set up spreadsheets to perform basic financial analysis and explain how to use various Excel functions.
- Updated data and examples.
- Additional end–of–chapter questions and problems.
