Fundamentals of Financial Management, 13th Edition

  • includes Thomson ONE - Business School Edition
  • Eugene F. Brigham University of Florida
  • Joel F. Houston University of Florida
  • ISBN-10: 0538482125
  • ISBN-13: 9780538482127
  • 816 Pages Hardcover 
  • Previous Editions: 2010, 2007, 2004
  • © 2013 | Published
  • List Price = $ 329.95
  • For quantity discounts, Contact your Representative
  • For single copy purchases, visit CengageBrain.com
 

About The Solution

Overview

Designed to put readers "First in Finance" today, this fully revised thirteenth edition of FUNDAMENTALS OF FINANCIAL MANAGEMENT provides readers with a focused understanding of today's corporate finance and financial management. This market-leading book offers a unique balance of clear concepts, contemporary theory, and practical applications in order to help readers understand the concepts and reasons behind corporate budgeting, financing, working capital decision making, forecasting, valuation, and Time Value of Money (TVM). The thirteenth edition has been updated to include discussions of several major events such as the BP oil spill, the European debt crisis, and the ongoing weakness in the economy and financial markets. Numerous practical examples, "Quick Questions," proven end-of-chapter applications, Integrated Cases, and real-world examples demonstrate theory in action and help readers apply what they have learned.


Additional Product Information

Features/Benefits

  • APLIA™ FOR FINANCE ENGAGES STUDENTS AND SUPPORTS INTERACTIVE LEARNING. This fastest-growing online pedagogical tool for finance saves you time while helping your students perform better in class. This trusted homework solution includes text-correlated real-time interactive tutorials, online experiments, news analyses, and Auto-graded problem sets. It is simple to ensure your students are consistently well prepared for class as this leading online system provides immediate feedback and student accountability.
  • LEARNING TOOLS ARE FOUND THROUGHOUT THE CHAPTER TO ENSURE STUDENT UNDERSTANDING. Strategically placed Self-test Problems for students appear immediately after each major section of the chapter and enable students to test their comprehension before moving ahead, instead of waiting until the conclusion of the chapter. In addition, integrated Spreadsheet Models, accompanying all but the first chapter, and guide students in developing effective techniques for financial problem solving. Spreadsheet Models serve as useful tutorials that demonstrate how to maximize Excel® as a powerful finance tool.
  • AUTHOR-WRITTEN SUPPLEMENT SUPPORT PROVIDES CONSISTENCY THROUGHOUT COMPREHENSIVE PACKAGE. You find the same level of accuracy and precision crafting that has made this text a leader throughout all of this edition's supplements. Prepared by the text authors to ensure consistency, this seamless, integrated package includes a comprehensive Instructor's Manual, Student Study Guide, and sizeable Test Bank, as well as numerous digital resources.
  • UNIQUE BALANCE OF THEORY AND PRACTICE KEEPS TODAY'S STUDENTS ENGAGED AND FOCUSED. A hallmark strength of this leading finance text, this edition clearly introduces important financial theories using a practically focused presentation. Students immediately see the impact and importance of financial theories and trends at work through proven learning features, a variety of today's most recent real financial and business world examples, practical problem sets, and integrated mini-cases.
  • PROFESSIONAL POWER OF THOMSON ONE-BUSINESS SCHOOL EDITION (BSE) LETS STUDENTS WORK WITH ACTUAL PROFESSIONAL FINANCIAL TOOLS. Thomson ONE-BSE online database, available with this edition, puts students in the role of an actual business professional -- letting them complete basic financial research and analysis using the same tool that professional brokers and analysts use every day to access leading financial data sources. Students use Thomson ONE-BSE to complete special end-of-chapter problems in the text.

What's New

  • CURRENT, RELEVANT COVERAGE: The thirteenth edition includes increased discussion of the federal debt, the Dodd-Frank Bill, and the possible takeover of the NYSE as well as updates on the ongoing weakness in the economy and financial markets and the European debt crisis.
  • NEW SETS OF "QUICK QUESTIONS": Located in key chapters, the authors placed these questions in set-aside boxes within the text. After posing the question, the exercise walks students through the process of finding its solution. The authors designed these questions to parallel the activity in a classroom setting, in which students go through an example to make concepts more concrete.
  • EXPANDED REAL-WORLD EXAMPLES: To help students bridge the gap between concept and application, the authors have included more real-life examples throughout the text including a broader discussion of the role of hedge funds and private equity of major firms, a detailed breakdown of the cash conversion cycle components for several leading companies, and an extensive updating of corporate bond ratings, yields, and dividend payouts for a broad range of companies.
  • MORE EMPHASIS ON AND CLARITY OF KEY TOPICS: The authors have clarified their discussion of free cash flow (Chapter 3) and better demonstrated its effects on the value of common stocks (Chapter 9) and the value of corporate projects (Chapters 11 and 12). They discuss the connections between derivatives and the financial crisis (Chapter 18) and also highlight recent hybrids such as Warren Buffet’s investment in Goldman Sachs (Chapter 20). They also reorganized some of the spreadsheet examples so that these have a more consistent presentation throughout the text.
  • UPDATED EXCEL MODELS: In a continuing effort to help students know and use Excel® to problem-solve, the authors have updated the spreadsheet models that parallel the discussion of each topic and have also incorporated new in-text graphics to quickly show students how many of the problems can be solved using Excel®.
  • NEW WEB APPENDICES ADDED: Two new Web Appendices on "Common Sized Balance Sheets" and "Duration" have been added and are an ideal option for instructors with advanced students.

Best Buy Packages

Other Popular Packages

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Cengage Learning representative for more information.


Bundle: Text + + Aplia with eBook Printed Access Card
ISBN-10: 1133908950  | ISBN-13: 9781133908951
List Price = $343.95


Printed Text + Aplia 2-Semester Instant Access
ISBN-10:  1305121015  | ISBN-13:  9781305121010
List Price = $356.95  | CengageBrain Price = $285.49


ePack: Text + CNOW Instant Access Code
ISBN-10:  1285477197  | ISBN-13:  9781285477190
List Price = $349.95  | CengageBrain Price = $279.49


Printed Text + Aplia Instant Access
ISBN-10:  1285579798  | ISBN-13:  9781285579795
List Price = $343.95  | CengageBrain Price = $274.99


Printed Text + Study Guide + Aplia 1-Semester Instant Access
ISBN-10:  1305130626  | ISBN-13:  9781305130623
List Price = $406.95  | CengageBrain Price = $325.49


Bundle: Text + CengageNow Printed Access Card
ISBN-10:  1285039882 | ISBN-13:  9781285039886
List Price = $343.95  | CengageBrain Price = $274.99


Table of Contents

PART I INTRODUCTION TO FINANCIAL MANAGEMENT.
1 An Overview of Financial Management.
2 Financial Markets and Institutions.
PART II FUNDAMENTAL CONCEPTS IN FINANCIAL MANAGEMENT.
3 Financial Statements, Cash Flow, and Taxes.
4 Analysis of Financial Statements.
Web Appendix 4A Common Size and Percent Change Analyses.
5 Time Value of Money.
Web Appendix 5A Continuous Compounding and Discounting, Web Appendix 5B Growing Annuities.
PART III FINANCIAL ASSETS.
6 Interest Rates.
7 Bonds and Their Valuation.
Web Appendix 7A Zero Coupon Bonds, Web Appendix 7B Bond Risk and Duration, Web Appendix 7C Bankruptcy and Reorganization.
8 Risk and Rates of Return.
Web Appendix 8A Calculating Beta Coefficients.
9 Stocks and Their Valuation.
Appendix 9A Stock Market Equilibrium.
PART IV INVESTING IN LONG-TERM ASSETS: CAPITAL BUDGETING.
10 The Cost of Capital.
Web Appendix 10A The Cost of New Common Stock and WACC.
11 The Basics of Capital Budgeting.
12 Cash Flow Estimation and Risk Analysis.
Appendix 12A Tax Depreciation.
Web Appendix 12B Refunding Operations, Web Appendix 12C Using the CAPM to Estimate the Risk-Adjusted Cost of Capital, Web Appendix 12D Techniques for Measuring Beta Risk, Web Appendix 12E Comparing Mutually Exclusive Projects with Unequal Lives, Web Appendix 12F Real Options: Investment Timing, Growth, and Flexibility.
13 Real Options and Other Topics in Capital Budgeting.
PART V CAPITAL STRUCTURE AND DIVIDEND POLICY.
14 Capital Structure and Leverage.
Web Appendix 14A Degree of Leverage.
15 Distributions to Shareholders, Dividends and Share Repurchases.
Web Appendix 15A An Example: The Residual Dividend Model.
PART VI WORKING CAPITAL MANAGEMENT, FORECASTING, AND MULTINATIONAL FINANCIAL MANAGEMENT.
16 Working Capital Management.
Web Appendix 16A Inventory Management, Web Appendix 16B Short-Term Loans and Bank Financing.
17 Financial Planning and Forecasting.
Web Appendix 17A Forecasting Financial Requirements When Financial Ratios Change.
PART VII Special Topics in Financial Management.
18 Derivatives and Risk Management.
Appendix 18A Valuation of Put Options.
19 Multinational Financial Management.
20 Hybrid Financing: Preferred Stock, Leasing, Warrants, and Convertibles.
21 Mergers and Acquisitions.
Web Appendix 21A Merger Regulation, Web Appendix 21B Holding Companies.
APPENDIX A Solutions to Self-Test Questions and Problems.
APPENDIX B Answers to Selected End-of-Chapter Problems.
APPENDIX C Selected Equations and Tables.

Supplements

Instructor Supplements

Instructor Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor's Manual  (ISBN-10: 0538482613 | ISBN-13: 9780538482615)

Find all of the time-saving tools you need for class preparation with this comprehensive Instructor's Manual, written by the text's authors to ensure continuity. The IM contains answers to all text questions and problems and detailed solutions to Integrated Cases. It also contains descriptions of other ancillaries and a sample syllabus and course schedule. A digital version is also available on the Instructor's Resource CD-ROM (IRCD) and the instructors-only section of the text companion website.


Instructor's Resource CD-ROM  (ISBN-10: 1111525188 | ISBN-13: 9781111525187)

Place the key teaching resources you need at your fingertips with this all-in-one resource. Save time as you create a dynamic course using these instructors' resources including electronic versions of the Instructor's Manual; Test Bank in Microsoft® Word; Excel® Chapter Models; spreadsheet models and solutions; and Integrated Case Models, and PowerPoint® slides. All content is arranged to maximize accessibility and minimize search time. Bring lectures to life as new colorful PowerPoint® slides cover the essential topics for each chapter. Created by the authors and updated for the 13E, all of the graphs, tables, lists, and calculations are developed sequentially for your convenience, and you can easily modify slides for your specific needs. Both regular and exhibit-only PowerPoint® slides are also available on the companion website. Easily illustrate the application of spreadsheets to finance concepts using Spreadsheet Models and the book's Integrated Case data. Much more than just Excel® templates, these spreadsheet models serve as tutorials to enhance students' understanding of how to best utilize Excel® as a powerful finance tool. Spreadsheet models are also available on the companion website.


Test Bank  (ISBN-10: 0538482621 | ISBN-13: 9780538482622)

Check your students' understanding of key concepts easily and efficiently with this proven Test Bank, written by the text authors. Updated to reflect the 13E, the Test Bank provides hundreds of class-tested questions and problems. Each question is identified by topic, level of difficulty, and correct answers as well as complete solutions for all numerical problems. The Test Bank is also available in Microsoft® Word format on the IRCD or text companion site.

List Price = $28.95  | College Bookstore Wholesale Price = $21.50


ExamView®  (ISBN-10: 1111525161 | ISBN-13: 9781111525163)

Easily check your students' understanding of concepts and applications with this easy-to-use test creation software. ExamView® computerized testing makes test preparation, scoring, and grading easy with all of the proven questions in the printed Test Bank. This easy-to-use, computerized test creation software is compatible with Microsoft® Windows®. You can add or edit questions, instructions, and answers, and select questions by previewing them on the screen, selecting them randomly, or selecting them by number. Instructors can also create and administer quizzes online, whether over the Internet, a local area network (LAN), or a wide area network (WAN). Contact your Cengage Learning representative for more information.


Study Guide  (ISBN-10: 0538482605 | ISBN-13: 9780538482608)

Earn the grade you want in your course with the help of this invaluable tool. This Study Guide lists key learning objectives for each chapter, outlines key sections, provides self-test questions, and offers a set of problems similar to those in the text and Test Bank with fully worked-out solutions.

List Price = $63.95  | CengageBrain Price = $63.49  | College Bookstore Wholesale Price = $47.00


Aplia 1-Semester Instant Access  (ISBN-10: 1133494048 | ISBN-13: 9781133494041)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for FUNDAMENTALS OF FINANCIAL MANAGEMENT, 13th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


CengageNOW Instant Acces  (ISBN-10: 1133494013 | ISBN-13: 9781133494010)

Succeed in your finance course with CengageNOW, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade

List Price = $124.00  | CengageBrain Price = $124.00  | College Bookstore Wholesale Price = $124.00


MindTap Finance Instant Access  (ISBN-10: 1285381823 | ISBN-13: 9781285381824)

MindTap was created to harness the power of technology to drive student success. This cloud-based platform integrates a number of learning applications (“apps”) into an easy-to-use and easy to access tool that supports a personalized learning experience. MindTap combines student learning tools-readings, multimedia, activities and assessments-into a singular Learning Path that guides you through your finance course.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


MindTap™ Finance Printed Access Card for Brigham/Houston's Fundamentals of Financial Management  (ISBN-10: 1285382528 | ISBN-13: 9781285382524)

MindTap is a fully online, highly personalized learning experience built upon Cengage Learning content. MindTap combines student learning tools - readings, multimedia, activities and assessments - into a singular Learning Path that guides students through their course. Instructors personalize the experience by customizing authoritative Cengage Learning content and learning tools, including the ability to add their own content in the Learning Path via apps that integrate into the MindTap framework seamlessly with Learning Management Systems.

List Price = $131.95  | College Bookstore Wholesale Price = $97.75


MindTap Finance Instant Access with Selections from Brigham/Houston's Fundamentals of Financial Management  (ISBN-10: 1133998976 | ISBN-13: 9781133998976)

MindTap is a fully online, highly personalized learning experience built upon Cengage Learning content. MindTap combines student learning tools - readings, multimedia, activities and assessments - into a singular Learning Path that guides students through their course. Instructors personalize the experience by customizing authoritative Cengage Learning content and learning tools, including the ability to add their own content in the Learning Path via apps that integrate into the MindTap framework seamlessly with Learning Management Systems.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


Instructor's Edition (with Thomson ONE - Business School Edition)  (ISBN-10: 111153022X | ISBN-13: 9781111530228)

With the same contemporary approach and dynamic examples that made previous editions so popular, this fully revised thirteenth edition of FUNDAMENTALS OF FINANCIAL MANAGEMENT continues to provide students with a focused understanding of today's corporate finance and financial management. This market-leading text offers a unique balance of clear concepts, contemporary theory, and practical applications in order to help students understand the concepts and reasons behind corporate budgeting, financing, working capital decision making, forecasting, valuation, and Time Value of Money (TVM). The thirteenth edition has been updated to include discussions of several major events such as the BP oil spill, the European debt crisis, and the ongoing weakness in the economy and financial markets. Numerous practical examples, "Quick Questions," proven end-of-chapter applications, Integrated Cases, and real-world examples demonstrate theory in action. A comprehensive support package –-prepared by the text authors -- connects closely with the book to reduce preparation time and reinforce students understanding. You can also engage your students with a variety of tools including Thomson One Business School Edition, the same financial online database professionals use every day; updated Excel® spreadsheets models; today's leading online homework solution, Aplia™ for Finance; and CengageNOW course management system.



Student Supplements

Student Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

Study Guide  (ISBN-10: 0538482605 | ISBN-13: 9780538482608)

Earn the grade you want in your course with the help of this invaluable tool. This Study Guide lists key learning objectives for each chapter, outlines key sections, provides self-test questions, and offers a set of problems similar to those in the text and Test Bank with fully worked-out solutions.

List Price = $63.95  | CengageBrain Price = $63.49  | College Bookstore Wholesale Price = $47.00


CourseMate Instant Access  (ISBN-10: 1133629156 | ISBN-13: 9781133629153)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Maximize your course success with the integrated eBook and chapter-specific learning tools that include flashcards, quizzes, videos, and more in your CourseMate. Key Features: Interactive eBook, Engagement Tracker, Learning Objectives, Tutorial Quizzes, Glossary and Flashcards, and Web Links and References.

List Price = $181.00  | CengageBrain Price = $181.00  | College Bookstore Wholesale Price = $181.00


MindLink for Aplia 1-Semester Instant Access  (ISBN-10: 1285323300 | ISBN-13: 9781285323305)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for FUNDAMENTALS OF FINANCIAL MANAGEMENT, 13th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


MindLink for Aplia 2-Semester Instant Access  (ISBN-10: 1285365682 | ISBN-13: 9781285365688)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for UNDERSTANDING, 6th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.

List Price = $124.00  | CengageBrain Price = $124.00  | College Bookstore Wholesale Price = $124.00


Aplia 1-Semester Instant Access  (ISBN-10: 1133494048 | ISBN-13: 9781133494041)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for FUNDAMENTALS OF FINANCIAL MANAGEMENT, 13th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


Aplia 2-Semester Instant Access  (ISBN-10: 1285061756 | ISBN-13: 9781285061757)

Succeed in your course with 2 semesters of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for FUNDAMENTALS OF FINANCIAL MANAGEMENT, 13th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.

List Price = $124.00  | CengageBrain Price = $124.00  | College Bookstore Wholesale Price = $124.00


CengageNOW Instant Acces  (ISBN-10: 1133494013 | ISBN-13: 9781133494010)

Succeed in your finance course with CengageNOW, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade

List Price = $124.00  | CengageBrain Price = $124.00  | College Bookstore Wholesale Price = $124.00


MindTap Finance Instant Access  (ISBN-10: 1285381823 | ISBN-13: 9781285381824)

MindTap was created to harness the power of technology to drive student success. This cloud-based platform integrates a number of learning applications (“apps”) into an easy-to-use and easy to access tool that supports a personalized learning experience. MindTap combines student learning tools-readings, multimedia, activities and assessments-into a singular Learning Path that guides you through your finance course.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


MindTap™ Finance Printed Access Card for Brigham/Houston's Fundamentals of Financial Management  (ISBN-10: 1285382528 | ISBN-13: 9781285382524)

MindTap is a fully online, highly personalized learning experience built upon Cengage Learning content. MindTap combines student learning tools - readings, multimedia, activities and assessments - into a singular Learning Path that guides students through their course. Instructors personalize the experience by customizing authoritative Cengage Learning content and learning tools, including the ability to add their own content in the Learning Path via apps that integrate into the MindTap framework seamlessly with Learning Management Systems.

List Price = $131.95  | College Bookstore Wholesale Price = $97.75


General MindLink for MindTap Finance Instant Access  (ISBN-10: 1285407709 | ISBN-13: 9781285407708)

List Price = $115.00  | College Bookstore Wholesale Price = $115.00


MindTap Finance Instant Access with Selections from Brigham/Houston's Fundamentals of Financial Management  (ISBN-10: 1133998976 | ISBN-13: 9781133998976)

MindTap is a fully online, highly personalized learning experience built upon Cengage Learning content. MindTap combines student learning tools - readings, multimedia, activities and assessments - into a singular Learning Path that guides students through their course. Instructors personalize the experience by customizing authoritative Cengage Learning content and learning tools, including the ability to add their own content in the Learning Path via apps that integrate into the MindTap framework seamlessly with Learning Management Systems.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


MindLink for CengageNOW Instant Access  (ISBN-10: 1285321596 | ISBN-13: 9781285321592)

Succeed in your finance course with CengageNOW, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


Flash Cards Instant Access  (ISBN-10: 1285795334 | ISBN-13: 9781285795331)

Flashcards designed to work with your text can help you to review and learn essential terms and key concepts. Interactive flashcards include terms and definitions for each chapter. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, flash cards are already included.

List Price = $4.00  | CengageBrain Price = $4.00  | College Bookstore Wholesale Price = $4.00


Quizzing Instant Access  (ISBN-10: 1285791533 | ISBN-13: 9781285791531)

Interactive practice quizzes designed to work with your text can help you to review and learn essential terms and key concepts. True/false and multiple choice questions are included for each chapter. Check your score and take quizzes again if needed. A reference for where to find more material in the text is included with each answer. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, flash cards are already included.

List Price = $5.00  | CengageBrain Price = $5.00  | College Bookstore Wholesale Price = $5.00


Quizzing with Flash Cards Instant Access  (ISBN-10: 1285787730 | ISBN-13: 9781285787732)

Interactive practice quizzes and flashcards designed to work with your text can help you to review and learn essential terms and key concepts. Flashcards contain terms and definitions for each chapter. Practice quizzes consist of true/false and multiple choice questions for each chapter. Check your score and take quizzes again if needed. A reference for where to find more material in the text is included with each answer. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, practice quizzes and flashcards are already included.

List Price = $6.25  | CengageBrain Price = $6.25  | College Bookstore Wholesale Price = $6.25


Meet the Author

About the Author

Eugene F. Brigham

Dr. Eugene F. Brigham is Graduate Research Professor Emeritus at the University of Florida, where he has taught since 1971. Dr. Brigham received his M.B.A. and Ph.D. from the University of California-Berkeley and his undergraduate degree from the University of North Carolina. Prior to joining the University of Florida, Dr. Brigham held teaching positions at the University of Connecticut, the University of Wisconsin, and the University of California-Los Angeles. Dr. Brigham has served as president of the Financial Management Association and has written many journal articles on the cost of capital, capital structure, and other aspects of financial management. He has authored or co-authored ten textbooks on managerial finance and managerial economics that are used at more than 1,000 universities in the United States and have been translated into 11 languages worldwide. He has testified as an expert witness in numerous electric, gas, and telephone rate cases at both federal and state levels. He has served as a consultant to many corporations and government agencies, including the Federal Reserve Board, the Federal Home Loan Bank Board, the U.S. Office of Telecommunications Policy, and the RAND Corporation. Dr. Brigham continues to teach, consult, and complete research in addition to his academic writing. He spends his spare time on the golf course, enjoying time with his family and dogs, and tackling outdoor adventure activities, such as biking through Alaska.

Joel F. Houston

Joel F. Houston is the John B. Hall Professor of Finance at the University of Florida. He received his M.A. and Ph.D. from the Wharton School at the University of Pennsylvania, and his undergraduate degree from Franklin and Marshall College. Prior to his appointment at the University of Florida, Dr. Houston was an Economist at the Federal Reserve Bank of Philadelphia. Joel's research is primarily in the areas of corporate finance and financial institutions, and his work has been published in a number of top journals including THE JOURNAL OF FINANCE, JOURNAL OF FINANCIAL ECONOMICS, JOURNAL OF BUSINESS, JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS AND FINANCIAL MANAGEMENT. Professor Houston also currently serves as an Associate Editor for the JOURNAL OF MONEY, CREDIT AND BANKING, the JOURNAL OF FINANCIAL SERVICES RESEARCH and the JOURNAL OF FINANCIAL ECONOMIC POLICY. Since arriving at the University of Florida in 1987, Joel has received 19 teaching awards, and has been actively involved in both undergraduate and graduate education. In addition to co-authoring leading textbooks in financial management, Dr. Houston has participated in management education programs for the PURC/World Bank Program, Southern Company, Exelon Corporation and Volume Services America. Joel enjoys playing golf and tennis and spending time with his wife (Sherry) and two children (Chris and Meredith). He is an avid sports fan who follows the Florida Gators, and the Pittsburgh Steelers, Pirates and Penguins.

Reviews

Customer Reviews

"My goal is to have the students ready to critically read the Wall St. Journal by the latter part of the semester. This is the best book for that objective."
— Kevin Scanlon, University of Notre Dame
"I have been using Brigham and Houston for over a decade. I have tried other ones but I still like Brigham and Houston."
— Sudip Ghosh, Penn State University – Berks Campus