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Finance for Executives is used on MBA and executive learning programs worldwide. The text continues to provide a clear and detailed overview of the aspects of financial practice students are likely to encounter as executives. Real examples from a range of international companies give the text a strong practical focus and help to put financial management into the context of the modern-day business environment.

The sixth edition includes a new chapter on understanding options as well as a whole new set of financial analysis examples from international companies such as GlaxoSmithKline and Sanofi.

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Part I: Financial Concepts and Techniques
1. Financial Management and Value Creation: An Overview
2. The Time Value of Money
3. Risk and Return
Part II: Evaluating Business Performance
4. Interpreting Financial Statements
5. Analyzing Operational Efficiency and Liquidity
6. Analyzing Profitability, Risk, and Growth
Part III: Making Investment Decisions
7. Using the NPV Rule to Make Value-Creating Investment Decisions
8. Alternatives to the Net Present Value Rule
9. Identifying and Estimating a Project´s Cash Flows
Part IV: Making Financial Decisions
10. Valuing Bonds and Common Stocks
11. Raising Capital and Paying Out Cash
12. Estimating the Cost of Capital
13. Designing a Capital Structure
Part V: Making Business Decisions
14. Valuing and Acquiring a Business
15. Managing Corporate Risk
16. Understanding Forward, Futures and Options and their Contribution to Corporate Finance
17. Making International Business Decisions
18. Managing for Value Creation

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Hawawini, Gabriel
Gabriel Hawawini (Ph.D., New York University) is emeritus professor of finance at INSEAD, where he served as dean and held the Henry Grunfeld Chair in Investment Banking. He taught finance at New York University, Baruch College, Columbia University, and the Wharton School of the University of Pennsylvania where he received the Helen Kardon Moss Anvil Award for Excellence in Teaching. He is the author of 12 books and more than 70 research papers on financial markets and corporate finance. He teaches value-based management seminars around the world and sits on the boards of several companies.

Viallet, Claude
Claude Viallet (Ph.D., Northwestern University) was emeritus professor of finance at INSEAD. He was visiting professor of finance at the Kellogg School of Management, Northwestern University. Before joining INSEAD, he worked as a project manager at a major oil company and as chief financial officer of a service company in Paris. Professor Viallet was president of the European Finance Association and published widely in leading academic and professional journals. He also organized, directed, and taught management-development programs in Europe, the United States, Asia and Latin America and provided consulting services to companies around the world.

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