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Brigham/Ehrhardt’s FINANCIAL MANAGEMENT, 15th Edition, gives you a solid foundation of financial principles that prepares you to succeed in the business world and helps you understand how the global economy works. The authors’ use of current real-world examples and their straightforward emphasis on basic principles make it easier than it has ever been to learn vital financial management skills that will last a lifetime.

The only text to strike a balance between solid financial theory and practical applications, Brigham/Ehrhardt’s FINANCIAL MANAGEMENT: THEORY AND PRACTICE, 15e gives you a thorough understanding of the essential concepts you need to develop and implement effective financial strategies. The book begins with a presentation of corporate finance fundamentals before progressing to discussions of specific techniques used to maximize the value of a firm. It also explores the recent financial and economic crises and the role of finance in the business world. With its relevant and engaging presentation, numerous examples, and emphasis on Excel usage, this text serves as a complete reference tool for you in your academic or business career. The 15th edition is also available with learning solutions such as MindTap Finance, Aplia, and CengageNOW to help you to become First in Finance.

Professor C. William Brigham’s FINANCIAL MANAGEMENT: THEORY AND PRACTICE, 16e provides a comprehensive coverage of all the core areas required for a solid understanding of financial management theory, along with relevant and recent examples and applications. The book carefully balances sound financial theory with practical applications, giving you insights into the essential strategic and tactical decisions every manager must make. Combining comprehensive coverage with exceptional clarity and examples, this text helps you grasp even the most complex concepts. New to the Eighth Edition are two streamlined chapters: Fundamentals of Financial Planning and Corporate Cash Management.

**Table of Content of Financial Management Theory And Practice 15th Edition Pdf Free**

- Brief Contents
- Contents
- Preface
- Part 1: The Company and Its Environment
- Ch 1: An Overview of Financial Management and the Financial Environment
- 1-1: The Five-Minute MBA
- 1-2: Finance from 40,000 Feet Above
- 1-3: The Corporate Life Cycle
- 1-4: Governing a Corporation
- 1-5: An Overview of Financial Markets
- 1-6: Claims on Future Cash Flows: Types of Financial Securities
- 1-7: Claims on Future Cash Flows: The Required Rate of Return (The Cost of Money)
- 1-8: The Functions of Financial Institutions
- 1-9: Financial Markets
- 1-10: Overview of the U.S. Stock Markets
- 1-11: Trading in the Modern Stock Markets
- 1-12: Finance and the Great Recession of 2007
- 1-13: The Big Picture
- e-Resources
- Summary
- Questions
- Mini Case
- Ch 2: Financial Statements, Cash Flow, and Taxes
- 2-1: Financial Statements and Reports
- 2-2: The Balance Sheet
- 2-3: The Income Statement
- 2-4: Statement of Stockholders’ Equity
- 2-5: Statement of Cash Flows
- 2-6: Net Cash Flow
- 2-7: Free Cash Flow: The Cash Flow Available for Distribution to Investors
- 2-8: Performance Evaluation
- 2-9: The Federal Income Tax System
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problems
- Mini Case
- Ch 3: Analysis of Financial Statements
- 3-1: Financial Analysis
- 3-2: Liquidity Ratios
- 3-3: Asset Management Ratios
- 3-4: Debt Management Ratios
- 3-5: Profitability Ratios
- 3-6: Market Value Ratios
- 3-7: Trend Analysis, Common Size Analysis, and Percentage Change Analysis
- 3-8: Tying the Ratios Together: The DuPont Equation
- 3-9: Comparative Ratios and Benchmarking
- 3-10: Uses and Limitations of Ratio Analysis
- 3-11: Looking beyond the Numbers
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Part 2: Fixed Income Securities
- Ch 4: Time Value of Money
- 4-1: Time Lines
- 4-2: Future Values
- 4-3: Present Values
- 4-4: Finding the Interest Rate, I
- 4-5: Finding the Number of Years, N
- 4-6: Perpetuities
- 4-7: Annuities
- 4-8: Future Value of an Ordinary Annuity
- 4-9: Future Value of an Annuity Due
- 4-10: Present Value of Ordinary Annuities and Annuities Due
- 4-11: Finding Annuity Payments, Periods, and Interest Rates
- 4-12: Uneven, or Irregular, Cash Flows
- 4-13: Future Value of an Uneven Cash Flow Stream
- 4-14: Solving for I with Irregular Cash Flows
- 4-15: Semiannual and Other Compounding Periods
- 4-16: Fractional Time Periods
- 4-17: Amortized Loans
- 4-18: Growing Annuities
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problem
- Mini Case
- Ch 5: Bonds, Bond Valuation, and Interest Rates
- 5-1: Who Issues Bonds?
- 5-2: Key Characteristics of Bonds
- 5-3: Bond Valuation
- 5-4: Changes in Bond Values over Time
- 5-5: Bonds with Semiannual Coupons
- 5-6: Bond Yields
- 5-7: The Pre-Tax Cost of Debt: Determinants of Market Interest Rates
- 5-8: The Risk-Free Interest Rate: Nominal (rRF) and Real (r*)
- 5-9: The Inflation Premium (IP)
- 5-10: The Maturity Risk Premium (MRP)
- 5-11: The Default Risk Premium (DRP)
- 5-12: The Liquidity Premium (LP)
- 5-13: The Term Structure of Interest Rates
- 5-14: Financing with Junk Bonds
- 5-15: Bankruptcy and Reorganization
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Part 3: Stocks and Options
- Ch 6: Risk and Return
- 6-1: Investment Returns and Risk
- 6-2: Measuring Risk for Discrete Distributions
- 6-3: Risk in a Continuous Distribution
- 6-4: Using Historical Data to Estimate Risk
- 6-5: Risk in a Portfolio Context
- 6-6: The Relevant Risk of a Stock: The Capital Asset Pricing Model (CAPM)
- 6-7: The Relationship between Risk and Return in the Capital Asset Pricing Model
- 6-8: The Efficient Markets Hypothesis
- 6-9: The Fama-French Three-Factor Model
- 6-10: Behavioral Finance
- 6-11: The CAPM and Market Efficiency: Implications for Corporate Managers and Investors
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problems
- Mini Case
- Selected Additional Cases
- Ch 7: Corporate Valuation and Stock Valuation
- 7-1: Legal Rights and Privileges of Common Stockholders
- 7-2: Types of Common Stock
- 7-3: Stock Market Reporting
- 7-4: Valuing Common Stocks-Introducing the Free Cash Flow (FCF) Valuation Model
- 7-5: The Constant Growth Model: Valuation When Expected Free Cash Flow Grows at a Constant Rate
- 7-6: The Multistage Model: Valuation When Expected Short-Term Free Cash Flow Grows at a Nonconstant
- 7-7: Application of the FCF Valuation Model to MicroDrive
- 7-8: Do Stock Values Reflect Long-Term or Short-Term Cash Flows?
- 7-9: Value-Based Management: Using the Free Cash Flow Valuation Model to Identify Value Drivers
- 7-10: Why are Stock Prices So Volatile?
- 7-11: Valuing Common Stocks with the Dividend Growth Model
- 7-12: The Market Multiple Method
- 7-13: Comparing the FCF Valuation Model, the Dividend Growth Model, and the Market Multiple Method
- 7-14: Preferred Stock
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problems
- Mini Case
- Selected Additional Cases
- Ch 8: Financial Options and Applications in Corporate Finance
- 8-1: Overview of Financial Options
- 8-2: The Single-Period Binomial Option Pricing Approach
- 8-3: The Single-Period Binomial Option Pricing Formula
- 8-4: The Multi-Period Binomial Option Pricing Model
- 8-5: The Black-Scholes Option Pricing Model (OPM)
- 8-6: The Valuation of Put Options
- 8-7: Applications of Option Pricing in Corporate Finance
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problem
- Mini Case
- Part 4: Projects and Their Valuation
- Ch 9: The Cost of Capital
- 9-1: The Weighted Average Cost of Capital
- 9-2: Choosing Weights for the Weighted Average Cost of Capital
- 9-3: After-Tax Cost of Debt: rd(1-T) and rstd(1-T)
- 9-4: Cost of Preferred Stock, rps
- 9-5: Cost of Common Stock: The Market Risk Premium, RPM
- 9-6: Using the CAPM to Estimate the Cost of Common Stock, rs
- 9-7: Using the Dividend Growth Approach to Estimate the Cost of Common Stock
- 9-8: The Weighted Average Cost of Capital (WACC)
- 9-9: Adjusting the Cost of Equity for Flotation Costs
- 9-10: Privately Owned Firms and Small Businesses
- 9-11: The Divisional Cost of Capital
- 9-12: Estimating the Cost of Capital for Individual Projects
- 9-13: Managerial Issues and the Cost of Capital
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Ch 10: The Basics of Capital Budgeting: Evaluating Cash Flows
- 10-1: An Overview of Capital Budgeting
- 10-2: The First Step in Project Analysis
- 10-3: Net Present Value (NPV)
- 10-4: Internal Rate of Return (IRR)
- 10-5: Modified Internal Rate of Return (MIRR)
- 10-6: Profitability Index (PI)
- 10-7: Payback Period
- 10-8: How to Use the Different Capital Budgeting Methods
- 10-9: Other Issues in Capital Budgeting
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Ch 11: Cash Flow Estimation and Risk Analysis
- 11-1: Identifying Relevant Cash Flows
- 11-2: Analysis of an Expansion Project
- 11-3: Risk Analysis in Capital Budgeting
- 11-4: Measuring Stand-Alone Risk
- 11-5: Sensitivity Analysis
- 11-6: Scenario Analysis
- 11-7: Monte Carlo Simulation
- 11-8: Project Risk Conclusions
- 11-9: Replacement Analysis
- 11-10: Real Options
- 11-11: Phased Decisions and Decision Trees
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Appendix 11A: Tax Depreciation
- Part 5: Corporate Valuation and Governance
- Ch 12: Corporate Valuation and Financial Planning
- 12-1: Overview of Financial Planning
- 12-2: Financial Planning at MicroDrive, Inc.
- 12-3: Forecasting Operations
- 12-4: Evaluating MicroDrive’s Strategic Initiatives
- 12-5: Projecting MicroDrive’s Financial Statements
- 12-6: Analysis and Selection of a Strategic Plan
- 12-7: The CFO’s Model
- 12-8: Additional Funds Needed (AFN) Equation Method
- 12-9: Forecasting When the Ratios Change
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problems
- Mini Case
- Selected Additional Cases
- Ch 13: Corporate Governance
- 13-1: Agency Conflicts
- 13-2: Corporate Governance
- 13-3: Employee Stock Ownership Plans (ESOPs)
- Summary
- Questions
- Mini Case
- Part 6: Cash Distributions and Capital Structure
- Ch 14: Distributions to Shareholders: Dividends and Repurchases
- 14-1: An Overview of Cash Distributions
- 14-2: Procedures for Cash Distributions
- 14-3: Cash Distributions and Firm Value
- 14-4: Clientele Effect
- 14-5: Signaling Hypothesis
- 14-6: Implications for Dividend Stability
- 14-7: Setting the Target Distribution Level: The Residual Distribution Model
- 14-8: The Residual Distribution Model in Practice
- 14-9: A Tale of Two Cash Distributions: Dividends versus Stock Repurchases
- 14-10: The Pros and Cons of Dividends and Repurchases
- 14-11: Other Factors Influencing Distributions
- 14-12: Summarizing the Distribution Policy Decision
- 14-13: Stock Splits and Stock Dividends
- 14-14: Dividend Reinvestment Plans
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Ch 15: Capital Structure Decisions
- 15-1: An Overview of Capital Structure
- 15-2: Business Risk and Financial Risk
- 15-3: Capital Structure Theory: The Modigliani and Miller Models
- 15-4: Capital Structure Theory: Beyond the Modigliani and Miller Models
- 15-5: Capital Structure Evidence and Implications
- 15-6: Estimating the Optimal Capital Structure
- 15-7: Anatomy of a Recapitalization
- 15-8: Risky Debt and Equity as an Option
- 15-9: Managing the Maturity Structure of Debt
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problems
- Mini Case
- Selected Additional Cases
- Part 7: Managing Global Operations
- Ch 16: Supply Chains and Working Capital Management
- 16-1: Overview of Supply Chain Management
- 16-2: Using and Financing Operating Current Assets
- 16-3: The Cash Conversion Cycle
- 16-4: Inventory Management
- 16-5: Receivables Management
- 16-6: Accruals and Accounts Payable (Trade Credit)
- 16-7: The Cash Budget
- 16-8: Cash Management and the Target Cash Balance
- 16-9: Cash Management Techniques
- 16-10: Managing Short-Term Investments
- 16-11: Short-Term Financing
- 16-12: Short-Term Bank Loans
- 16-13: Commercial Paper
- 16-14: Use of Security in Short-Term Financing
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Ch 17: Multinational Financial Management
- 17-1: Multinational, or Global, Corporations
- 17-2: Multinational versus Domestic Financial Management
- 17-3: Exchange Rates
- 17-4: Exchange Rates and International Trade
- 17-5: The International Monetary System and Exchange Rate Policies
- 17-6: Trading in Foreign Exchange
- 17-7: Interest Rate Parity
- 17-8: Purchasing Power Parity
- 17-9: Inflation, Interest Rates, and Exchange Rates
- 17-10: International Money and Capital Markets
- 17-11: Multinational Capital Budgeting
- 17-12: International Capital Structures
- 17-13: Multinational Working Capital Management
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Case
- Part 8: Tactical Financing Decisions
- Ch 18: Public and Private Financing: Initial Offerings, Seasoned Offerings, and Investment Banks
- 18-1: The Financial Life Cycle of a Start-Up Company
- 18-2: The Decision to Go Public
- 18-3: The Process of Going Public: An Initial Public Offering
- 18-4: Equity Carve-Outs: A Special Type of IPO
- 18-5: Other Ways to Raise Funds in the Capital Markets
- 18-6: Investment Banking Activities
- 18-7: The Decision to Go Private
- 18-8: Refunding Operations
- 18-9: Managing the Risk Structure of Debt with Project Financing
- Summary
- Questions
- Self-Test Problems
- Problems
- Spreadsheet Problems
- Mini Case
- Selected Additional Cases
- Ch 19: Lease Financing
- 19-1: Types of Leases
- 19-2: Tax Effects
- 19-3: Financial Statement Effects
- 19-4: Evaluation by the Lessee
- 19-5: Evaluation by the Lessor
- 19-6: Other Issues in Lease Analysis
- 19-7: Other Reasons for Leasing
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Ch 20: Hybrid Financing: Preferred Stock, Warrants, and Convertibles
- 20-1: Preferred Stock
- 20-2: Warrants
- 20-3: Convertible Securities
- 20-4: A Final Comparison of Warrants and Convertibles
- 20-5: Reporting Earnings When Warrants or Convertibles are Outstanding
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Part 9: Strategic Finance in a Dynamic Environment
- Ch 21: Dynamic Capital Structures and Corporate Valuation
- 21-1: The Adjusted Present Value (APV) Approach
- 21-2: The Modigliani and Miller Models
- 21-3: The Compressed Adjusted Present Value (CAPV) Model
- 21-4: Multistage Valuation When the Capital Structure is Stable
- 21-5: Illustration of the Three Valuation Approaches for a Constant Capital Structure
- 21-6: Analysis of a Dynamic Capital Structure
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Ch 22: Mergers and Corporate Control
- 22-1: Rationale for Mergers
- 22-2: Types of Mergers
- 22-3: Level of Merger Activity
- 22-4: Hostile versus Friendly Takeovers
- 22-5: Merger Regulation
- 22-6: Overview of Merger Analysis
- 22-7: Estimating a Target’s Value
- 22-8: Setting the Bid Price
- 22-9: Analysis When the Capital Structure Changes during the Explicit Forecast Period
- 22-10: Taxes and the Structure of the Takeover Bid
- 22-11: Financial Reporting for Mergers
- 22-12: Analysis for a “True Consolidation”
- 22-13: The Role of Investment Bankers
- 22-14: Who Wins: The Empirical Evidence
- 22-15: Corporate Alliances
- 22-16: Divestitures
- 22-17: Holding Companies
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Ch 23: Enterprise Risk Management
- 23-1: Reasons to Manage Risk
- 23-2: An Overview of Enterprise Risk Management
- 23-3: A Framework for Enterprise Risk Management
- 23-4: Categories of Risk Events
- 23-5: Foreign Exchange (FX) Risk
- 23-6: Commodity Price Risk
- 23-7: Interest Rate Risk
- 23-8: Project Selection Risks
- 23-9: Managing Credit Risks
- 23-10: Risk and Human Safety
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Ch 24: Bankruptcy, Reorganization, and Liquidation
- 24-1: Financial Distress and Its Consequences
- 24-2: Issues Facing a Firm in Financial Distress
- 24-3: Settlements without Going through Formal Bankruptcy
- 24-4: Federal Bankruptcy Law
- 24-5: Reorganization in Bankruptcy (Chapter 11 of Bankruptcy Code)
- 24-6: Liquidation in Bankruptcy
- 24-7: Anatomy of a Bankruptcy: Transforming the GM Corporation into the GM Company
- 24-8: Other Motivations for Bankruptcy
- 24-9: Some Criticisms of Bankruptcy Laws
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Cases
- Part 10: Special Topics
- Ch 25: Portfolio Theory and Asset Pricing Models
- 25-1: Efficient Portfolios
- 25-2: Choosing the Optimal Portfolio
- 25-3: The Basic Assumptions of the Capital Asset Pricing Model
- 25-4: The Capital Market Line and the Security Market Line
- 25-5: Calculating Beta Coefficients
- 25-6: Empirical Tests of the CAPM
- 25-7: Arbitrage Pricing Theory
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Selected Additional Case
- Ch 26: Real Options
- 26-1: Valuing Real Options
- 26-2: The Investment Timing Option: An Illustration
- 26-3: The Growth Option: An Illustration
- 26-4: Concluding Thoughts on Real Options
- Summary
- Questions
- Self-Test Problem
- Problems
- Spreadsheet Problem
- Mini Case
- Appendix A: Solutions to Self-Test Problems
- Appendix B: Answers to End-of-Chapter Problems
- Appendix C: Selected Equations
- Appendix D: Values of the Areas under the Standard Normal Distribution Function
- Glossary
- Name Index
- Subject Index