附註:Lectures developed and taught at the Yale School of Management and the California Institute of Technology.
Includes bibliographical references (pages 228-231) and index.
Intro; CONTENTS; Introductory Remarks; Part I Introduction to Finance; Chapter 1 Finance; 1.1 What is Finance?; 1.2 Corporate Finance; 1.3 Financial Markets; Chapter 2 Axioms of modern corporate finance; 2.1 The Axioms; 2.1.1 Financial Markets are Competitive; 2.1.2 Value Additivity; 2.1.3 No Free Lunches; 2.1.4 The Efficient Markets Hypothesis; Chapter 3 On Value Additivity; 3.1 Value Additivity; 3.2 Application To Corporate Finance: The Value of the Firm; 3.3 A Couple of Brain Teasers; Problems; Chapter 4 On the Efficient Markets Hypothesis; 4.1 The Idea
4.2 Traditional Formulation of the Efficient Markets Hypothesis4.3 What Information?; 4.4 What Does ""Correctly Reflected"" Mean?; 4.4.1 Rational Learning; 4.4.2 Unbiased Beliefs; 4.4.3 Adding Compensation for Waiting and Risk; 4.5 Empirical Evidence; 4.6 Some Implications of the Efficient Markets Hypothesis; 4.6.1 One Cannot Time the Market; 4.6.2 Average Returns in Excess of the Risk Free Rate are Solely Determined by Risk; 4.6.3 Expected Returns Can Vary Over Time; References; Problems; Part II Basic Finance; Chapter 5 Present Value; 5.1 Definition of Present Value
5.2 Pricing in Markets for Dated Riskfree Cash Flows5.3 Interest Rates; 5.4 Term Structure of Interest Rates; 5.5 Net Present Value; 5.6 Capital Budgeting; 5.7 Perpetuities; 5.8 Annuities; 5.9 Compound interest; 5.10 Valuing Fixed Income Securities; 5.11 Valuing Equities; 5.12 Risky Cash flows; References; Problems; Chapter 6 Capital Budgeting; 6.1 Capital Budgeting; 6.2 Evaluating projects using NPV; 6.2.1 Calculation of NPV; 6.2.2 Only Cash Flows; 6.2.3 Accountants; 6.2.4 After Tax Cash Flows; 6.2.5 What are Relevant Cash Flows?; 6.2.6 Inflation; 6.2.7 Projects with Different Life Lengths
6.3 Alternative Valuation Methods6.3.1 Payback Period; 6.3.2 Internal Rate of Return; 6.3.3 Profitability Index; 6.3.4 Accounting Measures of Return; 6.4 Some Fancy Acronyms; 6.4.1 EVA (Economic Value Added); 6.4.2 MVA (Market Value Added); 6.4.3 TSR (Total Shareholder Return); References; Problems; Chapter 7 Valuation Under Uncertainty: The CAPM; 7.1 Asset Pricing Theory; 7.2 Portfolio Returns; 7.3 The Distinction Between Diversifiable and Nondiversifiable Risk; 7.4 The Set of Efficient Portfolios; 7.5 The Possibility Set With a Risk Free Security; 7.6 The Capital Asset Pricing Model
7.7 Using CAPM for Pricing7.8 Using CAPM for Capital Budgeting; 7.9 Empirical Evidence; 7.10 Experimental Evidence; 7.11 The Arbitrage Pricing Theory; 7.12 When the CAPM Would Fail; References; Problems; Part III Multiperiod Pricing and Derivatives; Chapter 8 Valuing Risky Cash Flows; 8.1 Valuation of Dated, Risky Cash Flows; 8.2 States; 8.3 States and Digital Options; 8.4 Expectations and Digital Options; 8.5 Trees; 8.6 Summarizing; References; Problems; Chapter 9 Introduction to Derivatives; 9.1 Derivatives; 9.2 Definitions; 9.3 Option Cashflows; 9.4 Bounds on Option Prices
