Principles of Managerial Finance Brief
EIGHTH EDITION Chad J. Zutter • Scott B. Smart
GLOBAL EDITION
This is a special edition of an established title widely used by colleges and universities throughout the world. Pearson published this exclusive edition for the benefit of students outside the United States and Canada. If you purchased this book within the United States or Canada, you should be aware that it has been imported without the approval of the Publisher or Author.
Pearson Global Edition
GLOBAL EDITION
GLOBAL EDITIONPrinciples of Managerial Finance BriefZutter Smart EIGHTH EDITIONThe eighth edition, Principles of Managerial Finance, Brief, continues to help students develop a variety of skills—Excel modeling, ethical reasoning, and critical thinking—to succeed in a rapidly changing financial and managerial environment. A strong pedagogy and generous use of examples, including personal finance examples, make this text an easily accessible resource for in- and out-of-class learning.
New to This Global Edition
• T ax Cuts and Jobs Act of 2017, which made sweeping changes to the American corporate and personal tax codes, has been included
• Highlights on how tax changes may alter firms’ incentives in a variety of ways
• Content and feature updates throughout the text and inclusion of global examples in the end-of-chapter homework assignments—from Britain, Scotland, Thailand, and Singapore—reflect global application in managerial finance
• MyLab Finance now includes the following features
° New chapter introduction videos and animations that explain the importance of the chapter content within the context of managerial finance
° New and updated solution videos of the author discussing or solving in-chapter examples
Zutter_08_1292267143_Final.indd 1 03/09/18 11:11 AM Prepare, Apply, Confirm and Develop Employability Skills with MyLab Finance
For additional details visit: www.pearson.com/mylab/finance86%
of students said it helped them earn higher grades on homework, exams, or the course
*Source: 2016 Student Survey, n 1317MyLabTM Finance is an online homework, tutorial, and assessment program construct-
ed to work with this text to engage students and improve results. It was designed to help students develop and assess the skills and applicable knowledge that they will need to succeed in their courses and their future careers.
See what more than 25,000 students had to say about MyLab Finance:
“MyLab Finance offers assistance WHILE doing homework rather than relying on information from class to execute later.”
— Anthony Wilent, Stockton University
Question Help MyLab homework and practice questions are correlated to the textbook, and generate algorithmically to give students unlimited opportunity for mastery of concepts. If students get stuck, Learning Aids including Help Me Solve This, View an Example, eText Pages, and a Financial Calculator walk them through the problem and identify helpful info in the text, giving them assistance when they need it most.
“MyLab Finance’s primary benefit was that it helped me gain a better understanding of the subject matter. More than just doing calculations but true understanding.”
— Robert Irish, Southern New Hampshire UniversityUsing proven, field-tested technology, auto-graded Excel Projects allow instructors to seamlessly integrate Microsoft Excel® content into their course without having to manually grade spreadsheets. Students have the opportunity to practice important finance skills in Excel, helping them to master key concepts and gain proficiency with the program.
Dynamic Study Modules help students study chapter topics effectively on their own by contin -
uously assessing their knowledge application and performance in real time. These are available as graded assignments prior to class, and acces -
sible on smartphones, tablets, and computers.
Pearson eText enhances student learning—both in and outside the classroom. Take notes, high -
light, and bookmark important content, or en -
gage with interactive lecture and example videos that bring learning to life (available with select titles). Accessible anytime, anywhere via MyLab or the app.% of students who found learning tool helpful91%93% 93%
eText Study PlanDynamic Study Modules
The MyLab Gradebook offers an easy way for students and instructors to view course performance. Item Analysis allows instruc-tors to quickly see trends by analyzing details like the number of students who answered correctly/incorrectly, time on task, and median time spend on a question by question basis. And because it’s correlated with the AACSB Standards, instructors can track students’ progress toward outcomes that the organization has deemed important in preparing students to be leaders.
of students would tell their instructor to keep using MyLab Finance88%
A01_ZUTT7142_08_GE_FM.indd 1 28/07/18 4:39 PM Berk/DeMarzo
Corporate Finance*†
Corporate Finance: The Core*†
Berk/DeMarzo/Harford
Fundamentals of Corporate Finance*†
Brooks
Financial Management: Core Concepts*†
Copeland/Weston/Shastri
Financial Theory and Corporate Policy
Dorfman/Cather
Introduction to Risk Management and Insurance
Eakins/McNally
Corporate Finance Online
Eiteman/Stonehill/Moffett
Multinational Business Finance*
†
Fabozzi
Bond Markets: Analysis and Strategies†
Foerster
Financial Management: Concepts and Applications*
†
Frasca
Personal Finance
Haugen
The Inefficient Stock Market: What Pays Off and WhyModern Investment TheoryHolden
Excel Modeling in Corporate Finance
†
Excel Modeling in Investments
Hughes/MacDonald
International Banking: Text and Cases
Hull
Fundamentals of Futures and Options Markets
†
Options, Futures, and Other Derivatives
†
Keown
Personal Finance: Turning Money into Wealth*
Keown/Martin/Petty
Foundations of Finance: The Logic and Practice of Financial Management*
†
Madura
Personal Finance*
McDonald
Derivatives MarketsFundamentals of Derivatives Markets
Mishkin/Eakins
Financial Markets and Institutions
†
Moffett/Stonehill/Eiteman
Fundamentals of Multinational Finance*
†
Pennacchi
Theory of Asset PricingRejda/McNamara
Principles of Risk Management and Insurance
†
Smart/Gitman/Joehnk
Fundamentals of Investing*†
Solnik/McLeavey
Global Investments
Titman/Keown/Martin
Financial Management: Principles and Applications*
†
Titman/Martin
Valuation: The Art and Science of Corporate Investment Decisions
Weston/Mitchell/Mulherin
Takeovers, Restructuring, and Corporate Governance
Zutter/Smart
Principles of Managerial Finance*
†
Principles of Managerial Finance—Brief Edition*
†The Pearson Series in Finance
* denotes titles with MyLab Finance: Log onto www.pearson.com/mylab/finance to learn more.
† denotes Global Edition titles.
A01_ZUTT7142_08_GE_FM.indd 2 13/08/18 11:21 AM Chad J. Zutter
University of Pittsburgh
Scott B. Smart
Indiana UniversityPrinciples of Managerial Finance
BRIEF
EIGHTH EDITION
GLOBAL EDITION
Harlow, England • London • New York • Boston • San Francisco • Toronto • Sydney • Dubai • Singapore • Hong Kong Tokyo • Seoul • Taipei • New Delhi • Cape Town • Sao Paulo • Mexico City • Madrid • Amsterdam • Munich • Paris • Milan
A01_ZUTT7142_08_GE_FM.indd 3 28/07/18 4:39 PM