Alex clicked "Open." The cursor flickered over the Table of Contents like a hiker looking at a mountain range. The Valley of Value

Navigating portfolio theory and the Capital Asset Pricing Model (CAPM). Key Features of the 10th Edition

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Capital budgeting is the process of evaluating and selecting investments in long-term assets, such as property, plant, and equipment (PP&E). The goal of capital budgeting is to allocate a company's resources to the most profitable projects. Various techniques are used in capital budgeting, including the net present value (NPV) method, internal rate of return (IRR) method, and payback period method. The NPV method calculates the present value of expected future cash flows from a project, while the IRR method calculates the rate of return on a project.

The 10th edition is systematically organized into eight main parts to guide readers through the financial lifecycle of a firm: