Corporate Finance is a classic text that emphasizes the modern fundamentals of the theory of finance, while providing contemporary examples to make the theory come to life. The authors aim to present corporate finance as the working of a small number of integrated and powerful intuitions, rather than a collection of unrelated topics. They develop the central concepts of modern finance: arbitrage, net present value, efficient markets, agency theory, options, and the trade-off between risk and return, and use them to explain corporate finance with a balance of theory and application. This Twelfth Edition includes many exciting new research findings as well as the incorporation of the Tax Cuts and Jobs Act (TCJA) throughout the text. A comprehensive adaptation provides corresponding examples and new mini-cases in the Indian context. Salient Features: 1) Completely revamped edition with updated text on subject matter 2) Incorporation of Tax Cuts and Jobs Act (TCJA) throughout the text 3) In-depth coverage on Inversions, Negative interest rates, NYSE market operations, Direct listings and cryptocurrency initial coin offerings, Brexit Repatriation, Changes in lease accounting, etc. 4) Thoroughly revised portions on cases, examples, and regulatory framework in Indian context Rich and innovative pedagogy, including unique features like, ExcelMaster, In Their Own Words, Spreadsheet Applications, etc.

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