9 Best Corporate Finance Books [Updated 2021]
Corporate finance essentially deals with the capital investment and financing decisions of a corporation that have a bearing on the performance growth of the entity. Here we discuss the top 9 Best Books on Corporate Finance to read in 2021.
- Corporate Finance For Dummies (Get this book)
- Introduction to Mergers & Acquisitions (Get this book)
- Applied Corporate Finance (Get this book)
- Corporate Finance (Irwin Series in Finance) (Get this book)
- The Revolution in Corporate Finance (Get this book)
- Principles of Private Firm Valuation (Get this book)
- The Theory of Corporate Finance (Get this book)
- Corporate Restructuring (Get this book)
- Multinational Business Finance, Global Edition (Get this book)
#1 – Corporate Finance For Dummies
Author – Michael Taillard
An excellent introductory Corporate Finance Book that lays threadbare the fundamentals of corporate finance for students as well as beginners. This work elaborates on various aspects of corporate finance in a methodical manner, thus helping readers acquire a good grasp of theoretical concepts, followed by useful information on the practical application of these principles. Some of the key topics covered in this work include accounting statements, cash flow, capital management, identifying and mitigating risks along with a focus on critical areas like mergers and acquisitions (M&As) and valuation. A highly recommended work on corporate finance for those new to the field with a balanced treatment of its various aspects providing a complete overview of the field.
A commendable introductory textbook on corporate finance that stands apart for its readability, depth of clarity and highly organized approach to this complex field. It offers useful information, tools, and resources to help understand corporate finance principles and strategies along with their practical application. An ideal knowledge resource on corporate finance for laymen as well as students of the subject.<< Get this book >>
#2 – Introduction to Mergers & Acquisitions
Author – Kate Creighton, William J. Gole MBA, CPA
A highly useful Book on Corporate Finance M&As which details a complete strategic approach necessary for a corporate acquisition, aimed at minimizing any risks involved in the process and handling of unexpected issues arising out of the same. The author focuses specifically on the need for integrating corporate strategy with M&A planning. Keeping in view the significance of mergers and acquisitions, the author offers useful guidance on pre-transaction planning including insights on key documentation and complex aspects of deal structuring among other things. Complete work on M&As and their relevance to an overall corporate strategy which can help streamline the entire process to enhance functional efficiency and achieve a higher level of risk management.
A highly recommended work on M&A planning along with identifying and managing risks associated with corporate acquisitions in an effective manner. The author has dealt at length with the question of developing corporate strategy in such a way as would allow for more efficient handling of mergers and acquisitions which can play a significant role from the point of view of corporate strategy.<< Get this book >>
#3 – Applied Corporate Finance
Author – Aswath Damodaran
This corporate finance book which on the application of underlying principles in the context of six real-world companies. For the sake of clarity, three types of decision-making are recognized, investment, financing and dividend decisions depending on the nature and purpose of any specific decision. This structured approach not only makes it possible for students to grasp intricacies of practical corporate finance but the text also encourages further study with the help of live cases and concept questions. An ideal work for students as well as professionals willing to develop a detailed practical understanding of corporate decision-making.
Demystifying a complex subject like corporate finance, the author utilizes six real-world companies to explain in clear terms the process of decision-making. The sole focus is to help students apply the fundamentals of corporate finance to study real-time data of corporations and gain an in-depth understanding of how corporate decisions are made. A highly recommended book for students and professionals to get acquainted with the study of corporate finance through live case studies and real-world examples.<< Get this book >>
#4 – Corporate Finance (Irwin Series in Finance)
Author – Stephen A. Ross, Randolph W. Westerfield, Jeffrey F. Jaffe
This best corporate finance book addresses some of the most challenging aspects of the study of corporate finance, including integrating all the complex aspects into a coherent whole. The current updated edition offers updated information on critical issues along with illustrations of real-world examples and case studies. It comes with supplementary material including a student CD-ROM, S&P’s Card and Ethics in Finance Powerweb to bring added value to the readers. To offer a wider perspective on the subject, this work also includes valuable articles and opinions of leading experts in the field, which helps elucidate certain complex aspects involved. A commendable book on corporate finance and its application for students as well as practitioners.
Bringing to board the expertise at their command, the authors present an overview of corporate finance which brings together disparate aspects of the subject to help create a better understanding. Realizing the significance of practical application and the issues involved, this work heavily relies on practical illustrations of real-world examples and also offers some useful supplementary material for students we well as beginners.<< Get this book >>
#5 – The Revolution in Corporate Finance
Author – Liza H. Jacobs
This corporate finance textbook deals at length with the ongoing transformation in corporate finance, discussing the latest theoretical advances in the field and how they impact real-world corporate decisions. This updated edition offers a good deal of additional information, enhancing the overall value of the work as a highly accessible academic text for the average reader. It also features two new chapters on International Finance and International Corporate Governance along with discussing the contribution of Nobel Laureate Merton Miller to the field of finance. A must-have possession for anyone looking to get acquainted with the latest in terms of theory and practice in the field of corporate finance.
An advanced text on the latest advances in the field of corporate finance utilizes a number of scholarly articles from the Bank of America Journal of Applied Corporate Finance for the purpose. What makes this work unique is that despite making use of visibly academic work, it comes across as a highly accessible work for the readers. In addition, this work also offers useful information on the contribution of Nobel Laureate Merton Miller to the world of finance. A gem of work for students, beginners as well as professionals.<< Get this book >>
#6 – Principles of Private Firm Valuation
Author – Stanley J. Feldman
The author presents a highly practical exposition on the valuation of private firms which combines a purely academic approach with a practical one. This work deals with several complex aspects related to firm valuation including how firms actually create value and ways to measure it with a great deal of transparency. Some of the issues discussed include valuing control, determining transaction value and valuation implications of FASB 141 (purchase price accounting) and FASB 142 (goodwill impairment). Dealing with wide-ranging legal and technical issues related to valuation and deal structure is what makes this immensely useful work for professionals who have more or less of an advisory role to play in the valuation of private firms.
An excellent corporate finance book on firm valuation and deal structuring deal with the intricacies of valuation including what apparently constitutes value and how is it measured. A number of topical issues are discussed in the work with a focus on technical and legal issues with a view to bringing in greater transparency in the process. A must-read for financial practitioners who need to deal with the issue of valuation in any form whatsoever.<< Get this book >>
#7 – The Theory of Corporate Finance
Author – Jean Tirole
It is nothing less than an excellent book on modern corporate finance theory which brings together different aspects of this complex field with his highly organized approach and accessible language. Building his work around the incentive or contract theory approach, he goes on to address corporate governance and auditing reforms, the role of private equity, financial marketsFinancial MarketsThe term "financial market" refers to the marketplace where activities such as the creation and trading of various financial assets such as bonds, stocks, commodities, currencies, and derivatives take place. It provides a platform for sellers and buyers to interact and trade at a price determined by market forces. and corporate mergers and acquisitions among other things. He offers a comprehensive view of corporate finance in a way that makes it possible to judge its impact in both micro and macroeconomic contexts, applying advanced concepts without losing sight of the fundamentals. A highly recommended read for students as well as practitioners of corporate finance.
An advanced book on corporate finance theory which delves deeper into the complexities of this field than most other works, while retaining its accessibility for the average reader. One of the rare works which make it possible to study broader policy issues related to corporate finance along with having more of an immediate impact. A perfect read for those who would want to pick up the finer threads of corporate finance theory without losing track of the reality.<< Get this book >>
#8 – Corporate Restructuring
Author – Bryan de Caires
This best corporate finance book deals with the complex question of corporate restructuring which involves a wide range of factors and impacts corporations in a big way, to say the least. Due to intense market competition and the need for corporations to readjust their position more often has made restructuring a much more common phenomenon today. The author deals with various forms of corporate readjustments including leveraged buy-outsLeveraged Buy-outsLBO (Leveraged Buyout) analysis helps in determining the maximum value that a financial buyer could pay for the target company and the amount of debt that needs to be raised along with financial considerations like the present and future free cash flows of the target company, equity investors required hurdle rates and interest rates, financing structure and banking agreements that lenders require., buy-ins, mergers and acquisitions along with refinancing which is usually adopted for the purpose. In this highly dynamic marketplace, it has become increasingly difficult for corporations to make the right choices when it comes to restructuring despite the availability of varied options. This work is intended to fill this gap and makes for an ideal companion for students as well as financial professionals.
An evolved corporate finance book focused on the idea of corporate restructuring and how corporations can make the right kind of decisions to achieve desired results in this direction. The author deals with the corporate deals of buy-outs, buy-ins along with with M&As and other forms of restructuring activity which forms the bulk of these activities. A classic work on restructuring meant for students as well as professionals in the field who need to deal with the issue of restructuring in one form or another.<< Get this book >>
#9 – Multinational Business Finance, Global Edition
Author – David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
A comprehensive overview of international finance which offers useful insights on enterprise decision-making for managers and business leaders in general. To help readers gain a practical understanding of the issues faced in decision-making, real-world cases are presented throughout the work. The entire focus of expert authors is towards helping managers prepare to face the challenges of operating big corporations in a highly dynamic and constantly evolving marketplace. A brilliant read for students, professionals as well as business leaders to understand the intricacies of multinational corporate finance.
Authored by experts in the field, this work offers a unique understanding of decision-making and problem-solving in international corporate finance. A number of real-world cases are presented for readers to apply the principles enumerated. An ideal read for students, professionals and business managers to acquire a detailed understanding of international corporate finance.<< Get this book >>
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This has been the list of Top Best Corporate Finance Books along with their key takeaways. If you wish to learn more about Investment Banking, you may refer the following books –