The central theme of this textbook is value-based financial management with the author's basic premise being that value creation should be key to making financial, strategic and operating decisions. Modern financial theory and valuation techniques are introduced to enable students to make complex business decisions when starting their careers. Corporate Finance has been revised and expanded to include new topics such as: project finance; leveraged buyouts, EVA and incentive compensation. It also includes numerous real-life case studies to illustrate the practical application of theory.