Corporate Finance Ivo Welch Books
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This second edition maintains the approach of building up explanations from the simplest to ever-more complex scenarios. For example, rates of return, present values, and the law of one price are first explained in a world of certainty; then in a world with risk but no risk premium; followed by a world in which higher risk comes with higher expected returns; and finally in a world with imperfect markets. Numerical examples take center stage. Each step is easy. Students learn why the fundamentals make sense. That is, this book teaches not only the traditional finance canon, but also how to think in financial terms. This book is both more advanced and easier to understand than its competitors.
Other Book Highlights
It is self-contained to help students with incomplete foundations in accounting, economics, and statistics.
Its focus is valuation. Thus, it contains novel chapters about how to read financial statements from a finance rather than an accounting perspective, how to use comparables, and how to construct pro formas.
It consistently emphasizes the difference between the default (credit) premium and the risk (aversion)premium. Stated rates of return are always higher than expected rates.
It is honest about what financiers do and do not know. It shows where mistakes are forgivable and wherethey are not.
It features many small innovations. For example, an NPV checklist prevents common errors. The relationbetween tax-adjusted APV, WACC, and other perfect-market violations is demystified. The capital structure chapters explain how non-financial liabilities can finance the firm (and break M&M), how firms should act if financial markets are not efficient, and how stock returns greatly influence debt-ratio variation.
Chapters not normally covered in a first course are laid out in a (free) companion. In this sense, this book is more like a "Fundamentals" version, albeit included free.
Corporate Finance Ivo Welch Books
As a newcomer to finance I needed a book written for the novice. It came highly recommended as part of a Coursera class that I am currently taking on finance. So far so good, the book guides my learning and the numerous questions with full solution allow me to gauge and improve my understanding. Professor Welch has a done a great job by allowing students to also use the free of charge edition while waiting for delivery which in my case is critical since I live in England and it takes a while to be delivered (still waiting by the way). Another very clever feature of the book is the use of the perfect market assumptions to explain the concepts and then move on to tackle real life situations. As such it replicates the learning style that I am familiar with as an engineering major. I highly recommend the book and its price is a tasty additional sweetener. Enjoy!!!Product details
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Tags : Amazon.com: Corporate Finance (9780984004959): Ivo Welch: Books,Ivo Welch,Corporate Finance,Ivo Welch,0984004955,BUS027000
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Corporate Finance Ivo Welch Books Reviews
I am a Finance professor and I used this book and its free testbank for my MBA level Corporate Finance. My students and I absolutely love this book for a variety of reasons.
1) There are a lot of good Corporate Finance/General Finance textbooks out there. For most of those books, they discuss finance in the order of financial statement analysis, time value of money, stocks and bonds, capital budgeting, efficient markets, etc. This book by Ivo Welch approaches finance in a different way. It begins with perfect market as a foundation, then add imperfect market and other finance topics after a good foundation is built. Since most students already use one of those other books in their 300 level finance class, this book could be a good option for 400 level and MBA level finance classes.
2) I really like the discussion of promised rate Vs. expected rate. This part of the discussion is the best among all the great finance book. The way Dr. Welch discuss the different layers of risk is also insightful.
3) The testbank (online quiz center) is a very neat tool. Dr. Welch provides questions for each chapter, and professors can choose the exact questions for the class assignments. In addition, professors can also make their own questions. It might take a little time to figure out how to add questions to the testbank, but it is really not too difficult.
4) Again, about this testbank. Numbers in most of the testbank questions are automatically updated every time students work on them. What I did was that I let students take unlimited attempts so that they can work on the questions repeatedly until they figure them out. Students' feedback to me indicates they LOVE this testbank system.
5) Last but not least, the price of this book is a bargain.
The book is fairly well -- and chapters are logically progressive--I like it.
I'm a student from the University Ca' Foscari who's attending to the Harvard summer school in this months in Venice. For my course of corporate finance i bought this book. I think it's really well-written, and it makes manageble a subject in itself very difficult.; I also appreciate the subtle humor that is as enjoyable as rare in teaching.In addition i appreciate the fact that the autor has made ''available a free consultation of your book online for those who didn't buy it, but i recommend to anyone who's interested in, to buy the book,because for a comprehensive study is necessary to "live it all". But that's just my opinion. Enjoy it! NPV > 0
This is the most easy to read business text book I have ever seen. He gives real world exampels and LOTS of homework examples.
one of the best textbooks I have read for finance, since it is very easy to read, understand and retain concepts important for financial expertise
We used the BMA book for our MBA finance course and that book turned out to be terrible. I purchased the Ivo Welch book to supplement and boy am I glad I did!!! What a fantastic book. Thanks Prof. Welch!!!!
Exactly as ordered. Great book. Really breaks down all of the fundamentals of corporate finance for my Investments class. Word of advice, brush up on Algebra/Stats prior if it’s been awhile. It made my head spin quite a bit at first glance and I had to dig deep and research a few things on my own so the book made more sense
As a newcomer to finance I needed a book written for the novice. It came highly recommended as part of a Coursera class that I am currently taking on finance. So far so good, the book guides my learning and the numerous questions with full solution allow me to gauge and improve my understanding. Professor Welch has a done a great job by allowing students to also use the free of charge edition while waiting for delivery which in my case is critical since I live in England and it takes a while to be delivered (still waiting by the way). Another very clever feature of the book is the use of the perfect market assumptions to explain the concepts and then move on to tackle real life situations. As such it replicates the learning style that I am familiar with as an engineering major. I highly recommend the book and its price is a tasty additional sweetener. Enjoy!!!
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