Corporate Finance

10th Edition
1265658919 · 9781265658915
Emphasizing modern fundamentals of the theory of finance, Corporate Finance, Tenth Canadian Edition, presents corporate finance as the collaboration of a small number of integrated and powerful institutions. Ross develops the central concepts of mode… Read More
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Financial modeling accreditation programs for finance and accounting professionals.Financial modeling accreditation programs for finance and accounting professionals.

Boost Student Career Readiness with FMI's Financial Modeling Course 

With McGraw Hill Connect for Finance in Canada, students get all the powerful learning tools you know and trust — auto-graded assignments, interactive content, robust analytics, and more. Now, they also receive exclusive access to the Foundations in Financial Modeling course from the Financial Modeling Institute (FMI), a professional credentialing course typically valued at $270 — included at no additional cost.

This introductory course equips students with essential financial modeling skills, including building pro-forma statements, projecting growth, and mastering Excel for career readiness. 

The program includes 12 hours of video instruction, a multiple-choice exam, and a personalized digital badge upon completion. Designed by industry experts, it bridges the gap between academic learning and employer expectations, preparing students for roles in investment banking, corporate finance, private equity, and aligns curriculum of the CFA Program Financial Modeling Practical Skills Module (PSM), and more. 

This partnership reflects McGraw Hill’s commitment to enhancing student success by integrating practical, industry-relevant skills into academic resources—all at no additional cost to students using McGraw Hill Connect! 

Empowering Students with Industry Ready Skills

Tom Holloway, finance professor at the University of Calgary and Canadian Author of Ross, Fundamentals of Corporate Finance, 12th edition, has taught over 800 students annually in the core second-year finance course. For the past three years, Professor Tom Holloway has utilized McGraw Hill Connect, and for the last two years, he has incorporated the FMI Foundations in Financial Modeling module.  

Professor Holloway emphasizes that the FMI Foundations program has addressed a critical gap between academic learning and employer expectations. It equips students with essential financial modeling skills, such as building pro-forma statements, projecting growth, and understanding Excel interactions—skills highly valued in fields like investment banking, corporate finance, and private equity. Holloway notes that over 99% of his students complete the program, despite its rigor, because they recognize its significant career benefits. Many students proudly display their FMI credentials on LinkedIn, showcasing their readiness for industry demands. 

Holloway states, Our experiment with FMI Foundations was motivated by an identified gap between what we were delivering to employers and their expectations. The small number of students that taught themselves financial modeling in Excel were in high demand. 

He highlights the value of the McGraw Hill partnership, which makes the FMI program accessible at no cost to students. Holloway believes this initiative seamlessly integrates practical skills into academic courses, preparing students for success in the finance industry. 

PART ONE Overview

1. Introduction to Corporate Finance

Appendix 1A Taxes

Appendix 1B Finance Professional Careers (Available on Connect)

2. Accounting Statements and Cash Flow

Appendix 2A Financial Statement Analysis

Appendix 2B Statement of Cash Flows

3. Financial Planning and Growth

 

PART TWO Value and Capital Budgeting

4. Financial Markets and Net Present Value: First Principles of Finance

5. The Time Value of Money

Appendix 5A Using Financial Calculators (Available on Connect)

6. How to Value Bonds and Stocks

Appendix 6A The Term Structure of Interest Rates

7. Net Present Value and Other Investment Rules

8. Net Present Value and Capital Budgeting

Appendix 8A Capital Cost Allowance

Appendix 8B Derivation of the Present Value of the Capital Cost Allowance Tax Shield Formula

9. Risk Analysis, Real Options, and Capital Budgeting

 

PART THREE Risk

10. Risk and Return: Lessons From Market History

Appendix 10A The U.S. Equity Risk Premium:

Historical and International Perspectives (Available on Connect)

11. Risk and Return: The Capital Asset Pricing Model

Appendix 11A Is Beta Dead? (Available on Connect)

12. An Alternative View of Risk and Return: The Arbitrage Pricing Theory

13. Risk, Return, and Capital Budgeting

Appendix 13A Economic Value Added and the Measurement of Financial Performance

 

PART FOUR Capital Structure and Dividend Policy

14. Corporate Financing Decisions and Efficient Capital Markets

15. Long-Term Financing: An Introduction

16. Capital Structure: Basic Concepts

17. Capital Structure: Limits to the Use of Debt

Appendix 17A Some Useful Formulas of Financial Structure (Available on Connect)

Appendix 17B The Miller Model and the Graduated Income Tax (Available on Connect)

18. Valuation and Capital Budgeting for the Levered Firm

Appendix 18A The Adjusted Present Value Approach to Valuing Leveraged Buyouts (Available on Connect)

19. Dividends and Other Payouts

 

PART FIVE Long-Term Financing

20. Issuing Equity Securities to the Public

21. Long-Term Debt

22. Leasing

Appendix 22A Adjusted Present Value Approach to Leasing (Available on Connect)

 

PART SIX Options, Futures, and Corporate Finance

23. Options and Corporate Finance: Basic Concepts

24. Options and Corporate Finance: Extensions and Applications

25. Warrants and Convertibles

26. Derivatives and Hedging Risk

 

PART SEVEN Financial Planning and Short-Term Finance

27. Short-Term Finance and Planning

28. Cash Management

29. Credit Management

Appendix 29A Inventory Management (Available on Connect)

 

PART EIGHT Special Topics

30. Mergers and Acquisitions

31. Financial Distress

Appendix 31A Predicting Corporate Bankruptcy: The Z-Score Model (Available on Connect)

32. International Corporate Finance

Appendix A: Mathematical Tables (Available on Connect)

Appendix B: Answers to Selected End-of-Chapter Problems (Available on Connect)

Emphasizing modern fundamentals of the theory of finance, Corporate Finance, Tenth Canadian Edition, presents corporate finance as the collaboration of a small number of integrated and powerful institutions. Ross develops the central concepts of modern finance: arbitrage, net present value, efficient markets, agency theory, options, and the trade-off between risk and return, and uses them to explain corporate finance with a balance of theory and application.

The Tenth Canadian Edition has been thoroughly updated to include current examples, mini-cases and problem material that will help students understand and apply the material.

Meeting you and your students where you are.

Using a personalized approach to teaching and learning, Connect is powered by adaptive technologies so your students learn more efficiently, retain more and achieve better outcomes and you can provide the engagement and expertise for more ‘aha’ moments. 

Emphasizing modern fundamentals of the theory of finance, Corporate Finance, Tenth Canadian Edition, presents corporate finance as the collaboration of a small number of integrated and powerful institutions. Ross develops the central concepts of modern finance: arbitrage, net present value, efficient markets, agency theory, options, and the trade-off between risk and return, and uses them to explain corporate finance with a balance of theory and application.

The Tenth Canadian Edition has been thoroughly updated to include current examples, mini-cases and problem material that will help students understand and apply the material.

Meeting you and your students where you are.

Using a personalized approach to teaching and learning, Connect is powered by adaptive technologies so your students learn more efficiently, retain more and achieve better outcomes and you can provide the engagement and expertise for more ‘aha’ moments. 

CURRENCY. Enhanced coverage of business sustainability through examples on green bonds and green projects. New and recent Canadian examples on mortgages, bond and equity securities issuance, stock options, and warrants have been added. In addition, new spreadsheet applications for calculating bond prices, NPV, and IRR have been introduced.

RELEVANCE. Enhanced coverage of Fintech and emerging business trends through examples on Bitcoin and Artificial Intelligence. This edition includes revised examples on cryptocurrency and AI technology investments, as well as examination of the recent high-profile governance issue at OpenAI. Expanded discussion of corporate governance throughout the text, particularly in Chapters 1, 15, and 19.

NEW SUSTAINABLE FINANCE COVERAGE. Examples include greater coverage of green bonds and their recent development in the global bond market, and new green project investments in Canada highlighted, including SK Ecoplant Co.’s recent expansion of a green hydrogen project in Newfoundland.

New AI Reader. McGraw Hill's AI Reader provides students with an embedded AI learning tool that promotes active reading to drive meaningful engagements and conceptual understanding of course content, not just rote memorization. AI Reader allows instructors to maintain control over how students are using AI in their courses, with trusted materials and guardrails.

Tableau Dashboard Activities. Tableau Dashboard Activities allow students to explore live Tableau dashboards directly within Connect and include auto-graded questions focused on both calculations and analysis. Students can check their understanding and apply what they are learning within the framework of analytics and critical thinking

MARKET LEADERSHIP. Ross, Corporate Finance leads the market in Canada due to trusted content, wealth of end-of-chapter problem material, and innovative Connect technology.

CURRENCY. Corporate Finance includes up-to-date discussions of the credit crisis, new research and examples of real-world challenges as they relate to the financial changes that have impacted the world.

REAL WORLD RELEVANCE. Each chapter begins with an Executive Summary featuring real company examples. In addition, the In Their Own Words boxes consisting of articles written by distinguished scholars or practitioners on key topics, are located throughout the chapters.

WEALTH OF PROBLEM MATERIAL. Corporate Finance offers rich examples and a wealth of problem material that challenges and engages students helping them to develop problem solving skills.

MINI-CASES. Located in most chapters, the Minicases apply what is learned in a number of chapters to a real-world scenario. After presenting the facts, the case gives students guidance in rationalizing a sound business decision.

STEP-BY-STEP EXAMPLES. Separate called-out examples are integrated throughout the chapters. Each example illustrates an intuitive or mathematical application in a step-by-step format. There is enough detail in the explanations that students don’t have to look elsewhere for additional information.

Connect. Connect is McGraw Hill's award-winning digital teaching and learning solution designed to enhance your teaching style. It allows you to deliver, personalize and measure your course with ease. Plus, Connect can integrate with your LMS system to provide a seamless experience for you and your students. Within Connect, students have access to SmartBook, an adaptive learning and reading tool that personalizes content to each student's unique needs. Because SmartBook creates the ideal study path for each student, every minute they spend studying is the most effective minute possible.

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McGraw-Hill Connect is an award-winning digital teaching and learning solution that empowers students to achieve better outcomes and enables instructors to improve course management efficiency.

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Connect features a question bank that you can select from to create homework, practice tests and quizzes. Dramatically reduce the amount of time you spend reviewing homework and grading quizzes, freeing up your valuable time to spend on teaching.

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Monitor progress and improve focus with Connect’s visual and actionable dashboards. Reports are available to empower both instructors and students with real-time performance analytics.

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Link your Learning Management with Connect for single sign-on and gradebook synchronization, with all-in-one ease for you and your students.

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