Instructor's Solutions Manual for Principles of Managerial Finance, Global Edition

About our authors Chad J. Zutter is a finance professor and the James Allen Faculty Fellow at the Katz Graduate School of Business at the University of Pittsburgh. Dr. Zutter received his BBA from the University of Texas at Arlington and his PhD from Indiana University. His research has a practical, applied focus and has been the subject of feature stories in, among other prominent outlets, The Economist and CFO Magazine. His papers have been cited in arguments before the US Supreme Court and in consultation with companies such as Google and Intel. Dr. Zutter won the prestigious Jensen Prize for the best paper published in the Journal of Financial Economics and a best paper award from the Journal of Corporate Finance, where he is currently an Associate Editor. He has won teaching awards at the Kelley School of Business at Indiana University and the Katz Graduate School of Business at the University of Pittsburgh. Dr. Zutter also serves on the board of Lutheran SeniorLife and, prior to his career in academics, he was a submariner in the US Navy. Dr. Zutter and his wife have 4 children and live in Pittsburgh, Pennsylvania. In his free time he enjoys horseback riding and downhill skiing. Scott B. Smart is a finance professor and the Fettig/Whirlpool Finance Faculty Fellow at the Kelley School of Business at Indiana University. Dr. Smart received his BBA from Baylor University and his MA and PhD from Stanford University. His research focuses primarily on applied corporate finance topics and has been published in journals such as the Journal of Finance, the Journal of Financial Economics, the Journal of Corporate Finance, Financial Management, and others. His articles have been cited by business publications including The Wall Street Journal, The Economist, and Business Week. Winner of more than a dozen teaching awards, Dr. Smart has been listed multiple times as a top business school teacher by Business Week. He has held Visiting Professor positions at the University of Otago and Stanford University, and he worked as a Visiting Scholar for Intel Corporation, focusing on that company’s mergers and acquisitions activity during the ‘‘Dot-com’’ boom in the late 1990s. As a volunteer, Dr. Smart currently serves on the boards of the Indiana University Credit Union and Habitat for Humanity. In his spare time he enjoys outdoor pursuits such as hiking and fly fishing.

PART 1: INTRODUCTION TO MANAGERIAL FINANCE
1. The Role of Managerial Finance
2. The Financial Market Environment

PART 2: FINANCIAL TOOLS
3. Financial Statements and Ratio Analysis
4. Long and Short-term Financial Planning
5. Time Value of Money

PART 3: VALUATION OF SECURITIES
6. Interest Rates and Bond Valuation
7. Stock Valuation

PART 4: RISK AND THE REQUIRED RATE OF RETURN
8. Risk and Return
9. The Cost of Capital

PART 5: LONG-TERM INVESTMENT DECISIONS
10. Capital Budgeting Techniques
11. Capital Budgeting Cash Flows
12. Risk and Refinements in Capital Budgeting

PART 6: LONG-TERM FINANCIAL DECISIONS
13. Capital Structure
14. Payout Policy

PART 7: SHORT-TERM FINANCIAL DECISIONS
15. Working Capital and Current Assets Management
16. Current Liabilities Management

PART 8: SPECIAL TOPICS IN MANAGERIAL FINANCE
17. Hybrid and Derivative Securities
18. Mergers, LBOs, Divestitures, and Business Failure
19. International Managerial Finance