Basic financial management

by J. William Petty II

This text balances a conceptual understanding of the material with rigour in building an understanding of the financial decision-making process, rather than just an introduction to the tools and techniques. Building the presentation around the 10 Axioms of Finance as an intuitive framework for understanding 'the big picture', the text provides a cohesive and enduring understanding of the tools of modern theory while developing the logic behind their use. *Concludes each chapter with a section on 'How Financial Managers Use This Material'; that ties the chapter material to students' future job setting and to real world companies. *Features unique treatment of Value Based Management - VBM - the set of management tools designed to help firms manage their operations in such a way as to enhance shareholder value. *Integrates examples of international finance throughout. *Focuses on the creation of wealth. *Emphasizes actual business practices throughout - to demonstrate both the relevance of topics discussed and the implementation of theory. *Weaves coverage of international finance throughout the text and includes an optional full chapter that deals directly with the topic.

684 pages, Hardcover

First published August 1, 1979

About the author

J. William Petty, PhD, University of Texas at Austin, is Professor of Finance and W. W. Caruth Chair of Entrepreneurship. Dr. Petty teaches entrepreneurial finance, both at the undergraduate and graduate levels. He is a University Master Teacher. In 2008, the Acton Foundation for Entrepreneurship Excellence selected him as the National Entrepreneurship Teacher of the Year. His research interests include the financing of entrepreneurial firms and shareholder value-based management. He has served as the co-editor for the Journal of Financial Research and the editor of the Journal of Entrepreneurial Finance. He has published articles in various academic and professional journals including Journal of Financial and Quantitative Analysis, Financial Management, Journal of Portfolio Management, Journal of Applied Corporate Finance, and Accounting Review. Dr. Petty is co-author of a leading textbook in small business and entrepreneurship, Small Business Management: Launching and Growing Entrepreneurial Ventures. He also co-authored Value-Based Management: Corporate America’s Response to the Shareholder Revolution (2010). He serves on the Board of Directors of a publicly traded oil and gas firm. Finally, he has served as the Executive Director of the Baylor Angel Network, a network of private investors who provide capital to startups and early-stage companies.