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This book is an essential introduction to the world of financing and investment decision making. With a strong real world focus, this text aims to help you bridge the gap between the theories surrounding financial decision making and what happens in the real business world in an accessible, user-friendly way.

Alongside the book, you can visit the Business Finance companion website at www.pearsoned.co.uk/mclaney to access a comprehensive range of student-learning resources, including additional questions, web links for further reading and a glossary of key terms.

Business Finance

• Part 1 The business finance environment
• Chapter 1 Introduction
• Chapter 2 A framework for financial decision making
• Chapter 3 Financial (accounting) statements and their interpretation
• Part 2 Investment decisions
• Chapter 4 Investment appraisal methods
• Chapter 5 Practical aspects of investment appraisal
• Chapter 6 Risk in investment appraisal
• Chapter 7 Portfolio theory and its relevance to real investment decisions
• Part 3 Financing decisions
• Chapter 8 Sources of long-term finance
• Chapter 9 The secondary capital market (the stock exchange) and its efficiency
• Chapter 10 Cost of capital estimations and the discount rate
• Chapter 11 Gearing, the cost of capital and shareholders’ wealth
• Chapter 12 The dividend decision
• Part 4 Integrated decisions
• Chapter 13 Management of working capital
• Chapter 14 Corporate restructuring (including takeovers and divestments)
• Chapter 15 International aspects of business finance
• Chapter 16 Small businesses
• Glossary
• References
• Index