FOREWORD

I am honored to introduce this second edition of Corporate Finance: A Practical Approach, which promises to be an important and comprehensive discourse on corporate financial management. The significant additions in this edition and revisions to the first edition build on the topic areas introduced in 2008. Furthermore, they bring much-needed practical dimensions to the complex and dynamic aspects of corporate finance.

Certainly, the global financial landscape has changed dramatically since the release of the first edition of this work. The economic drama and financial carnage injected into the marketplace starting in late 2007 have penetrated the very core of financial thought and practice and have challenged long-standing economic beliefs and relationships. The effects on corporate governance, capital structure, and budgeting caused by this extreme market volatility and economic upheaval have moved corporate treasurers and chief financial officers to the front lines in their companies’ continuing pursuits of profitability and financial security. Only those institutions that can quickly adapt their financial management and corporate structure to this “n....