A-First-Course-in-Corporate-Finance.pdf

(6068 KB) Pobierz
338494558 UNPDF
AFirstCoursein
CorporateFinance
Preview,Monday26 th September,2005
338494558.001.png
AFirstCourseinCorporateFinance
©2003,2004byIvoWelch.Allrightsreserved.
CartoonsarecopyrightandcourtesyofMikeBaldwin.See http://www.cornered.com/ .
ISBN:nonumberyet.
LibraryofCongress:nonumberyet.
TypesettingSystem:pdflatex.
CoverFont Y&YLucidaCasual 15,36,43pt.
MainBodyFont Y&YLucida 11pt.
OtherFonts Y&YLucidavariations
MostgraphicswerecreatedinR,open-sourceandfree: www.r-project.org .
ThereferencedspreadsheetsareExcelandOpenOce(free).
Printed:Monday26 th September,2005(bookc).
Warning:Thisbookisindevelopment.
Itisnoterror-free.
338494558.002.png
AFirstCoursein
CorporateFinance
Preview,Monday26 th September,2005
IvoWelch
ProfessorofFinanceandEconomics
YaleUniversity
338494558.003.png
Therearealargenumberofindividualswhohavehelpedmewiththisbook.Theywilleventuallybethankedhere.
Untilthen,somerandomcollection:RickAntle.DonnaBattista.RandolphBeatty.WolfgangBühler.KangbinChua.
DiegoGarcia.StanGarstka.RogerIbbotson.LudovicPhalippou.MatthewSpiegel.JohnStrong.JulieYufe.Many
anonymousvictimstudentsusingearliererror-riddendrafts.Mostimportantly,Mary-ClareMcEwinghelpedme
improvethebook.
Mostofthereviewcommentsonearlyversionofthisbookwereverygood,andIhavetriedhardtousethemall.
Thankstothereviewers,whoreallygavealotoftheirvaluabletimeandthoughtstohelpme.
TonyBernardo
BillChristie
JenniferConrad
JoshCoval
AmyDittmar
RichardFendler
DiegoGarcia
SharonGarrison
JamesGatti
SimonGervais
TomGeurtz
RobertHansen
MiltHarris
RonaldHomeister
KurtJesswin
MarkKlock
AngelineLavin
JosephMcCarthy
MichaelPagano
SarahPeck
RobertRitchey
BruceRubin
TimSullivan
ChrisStivers
MarkStohs
JohnStrong
JoelVanden
JaimeZender
Miranda(Mei)Zhang
Warning:Thisbookisindevelopment.
Itisnoterror-free.
Dedicatedtomyparents,ArthurandCharlotte.
lastfilechange:Aug23,2005(09:13h)
338494558.004.png
i
AQuickAdoptionChecklistForInstructors
ThischecklistwillnotapplyafterAFCICFispublished(withfullsupplementarymaterials)byAddison-Wesley-
Pearson.Therecommendedchecklistforthisbook(AFCICF)whileinbetatestmode:
¬ReadthisprologueandoneortwosamplechapterstodeterminewhetheryouliketheAFCICFapproach.
Althoughnotrepresentative,Irecommendthatyoualsoreadtheepilogue.
• IfyoudoliketheAFCICFapproach,thenpleasecontinue.IfyoudonotlikeAFCICF(orthechaptersyou
read),pleaseemail ivo.welch@yale.edu whyyoudidnotlikeit. IpromiseIwillnotshootthemessenger:I
wanttolearnhowtodoitbetter.
¬Youcancontinuetoassignwhateverotherfinancetextbookyouwereplanningtouse,butnowpleaseadd
AFCICF.
• AFCICFisafull-servicetextbookforanintroductoryfinancecourse.However,thisdoesnot
meanthatitcannotalsoworkasacomplementtoyourprevioustextbook.Thefactthatitis
sodierentfromthecompetitionmeansthatyouandyourstudentscanbenefitfromatest,in
whichyouassignbothbooksforoneyear.Relativetorelyingononlyyouroldtextbook,AFCICF
will not increase,butdecreaseyourstudentconfusionandworkload.SeehowwellAFCICFworks!
(TakethePepsichallenge!)Ihopethatthemajorityofyourstudents(andyou)willpreferreading
AFCICFinsteadofyouroldtextbook.
• IbelieveitshouldalsobearelativelysimplematterforyoutoplugAFCICFintoyourcurrent
class:Thechaptersaresuccinctandshouldmapeasilyintoyourcurriculum.Havingtheold
textbookisalsoyourinsuranceagainstusinganoveltextbook.Anditwillmakestudentsless
criticaloftheremainingshortcomingsinAFCICF,suchasthelimitednumberofexercises(and
theiroccasionallyerroneoussolutions).Perhapsmostimportantly,AFCICFdoesnot yet havefull
supplementarymaterials.Itwill,butuntilthen,theauxiliarymaterialsfromoldertextbookmay
help.
• Fornow,theprintingcostforAFCICFaddsonlyaround$25tostudentcost,soaordability
shouldnotbeaconcern.
YoucangowrongifyoutryoutatleastafewchaptersofAFCICFinthismanner.
¬YoucanreceivepermissiontopostAFCICFonyourclasswebsite.(Thewebsitemustbesecuredtoallowonly
university-internaldistribution).
¬Askyourcopycentertoprintandbindtheversiononyourwebsite.(Ifneedbe,Icansendyounicelybound
copiesat$50/book.Yourcopycentercanprobablydoitfor$25/book.)
• AlthoughversionsontheAFCICFwebsiteat http://welch.econ.brown.edu/book willbebetter
thantheversionyoudownload,itisgoodforyouandyourstudentstohaveonedefinitiverefer-
enceversion.
¬IfyouareusingAFCICFandyouarelookingforlecturenotes,feelfreeto“steal”andadaptmylecturenotes
(linkedat http://welch.econ.brown.edu/book ) toyourliking.(Pleaseavoidthehomeworksfornow.Likesome
oftheQ&AinAFCICF,thehomeworksarenotsolid.)
¬Attheendofthecourse,pleaseaskyourstudentswhichtextbooktheyfoundmorehelpful.Pleaseemail
yourconclusionsandimpressionsto ivo.welch@yale.edu . Anysuggestionsforimprovementareofcourse
alsoverywelcome.

Plik z chomika:

Inne pliki z tego folderu:

Inne foldery tego chomika:

Zgłoś jeśli naruszono regulamin