Corporate Finance

Ivo Welch is Professor of Financial Economics at Brown University, a position he has held since 2004. He previously held the same appointment at UCLA's Anderson School of Management (from 1989 to 2000) and Yale University's School of Management (from 2000 to 2004). He received his BA in computer science in 1985 from Columbia University, and both his MBA (1989) and PhD (1991) in finance from the University of Chicago. His work has been featured in many academic journals, as well as the popular press.

Chapter 1   Introduction

Chapter 2   The Time Value of Money and Net Present Value

Chapter 3   Stock and Bond Valuation: Annuities and Perpetuities

Chapter 4   A First Encounter With Capital Budgeting Rules

Chapter 5   Time-Varying Rates of Return and the Yield Curve

Chapter 6   Uncertainty, Default, and Risk

Chapter 7   A First Look at Investments

Chapter 8   Investor Choice: Risk and Reward

Chapter 9   The Capital Asset Pricing Model

Chapter 10  Market Imperfections

Chapter 11  Efficient Markets, Classical Finance, and Behavioral Finance

Chapter 12  Capital Budgeting Applications and Pitfalls

Chapter 13  From Financial Statements To Economic Cash Flows

Chapter 14  Valuation From Comparables and Some Financial Ratios

Chapter 15  Corporate Claims

Chapter 16  Capital Structure and Capital Budgeting in a Perfect Market

Chapter 17  The Weighted Cost of Capital and Adjusted Present Value in an Imperfect Market With Taxes

Chapter 18  More Market Imperfections Influencing Capital Structure

Chapter 19  Equity Payouts: Dividends and Share Repurchases

Chapter 20  Pro Forma Financial Statements

Chapter 21  Capital Structure Dynamics

Chapter 22  Capital Structure Patterns in the United States

Chapter 23  Investment Banking and M&A

Chapter 24  Corporate Governance

Chapter 25  International Finance

Chapter 26  Options (and More)