Stock Markets and Corporate Finance

by Michael Dempsey (Author)

• New

  Paperback
  2017

  $81.45

  This book examines the nature of the stock market and its implications for corporate management. It provides an introduction to core issues in finance and differs from traditional textbooks in its recognition that finance is not physics -- in the sense that how markets behave today is not necessarily how they will behave tomorrow. Nevertheless, a certain level of physics can be recognized as underpinning the development of stock market valuations and corporate financial decision-making.

  In short, the objective of the text is to instill insight in regards to the functioning of markets and corporate behavior, as opposed to algebraic derivations from unrealistic assumptions. Rather than subscribe unthinkingly to an efficient market hypothesis, at each stage of the development of the text's conceptual framework, we also recognize the reality of market sentiment and the fundamental uncertainty that managers face in their decisions.

  Based around a teaching programme with worked questions and solutions, Stock Markets and Corporate Finance is the perfect accompaniment for MBA, undergraduate and graduate students looking for a critical textbook on the nature of the financial sector and corporate finance.