Corporate Finance

Author: Yu Xuyin, Editor-in-Chief
Publisher:
Publishing Date: 2004-10-01
Features: In modern society, the operational mechanisms of joint-stock companies reflect the objective requirements of the market economy. As long as a market economy system is implemented, there are also commonalities across different social systems. Based on this, we believe that certain advanced corporate financial management principles, methods, and models formed under the conditions of large-scale social production and the market economy in the West should be regarded as common civilizational wealth of humanity, and should be boldly absorbed and learned from. In this book, we provide realistic evaluations of these principles, methods, and models. At the same time, we also theoretically summarize new developments, accumulated experiences, and proposed issues in the field of corporate finance that have emerged from China's market-oriented reforms over the years, making them an integral part of this book. The close integration of these two aspects will be highly beneficial for broadening perspectives, opening up new ideas, and advancing the healthy development of corporate financial reforms in China's socialist market economy. This book can serve as a teaching material for undergraduate students in higher financial and economic schools, management colleges, and related majors studying "Corporate Financial Management." It can also be used as a reference book for self-study or further study in "Corporate Financial Management" by a wide range of economic and management cadres.
The principles followed in the writing of this book (2nd Edition) are: "Rooted in the present, looking to the future; Rooted in China, embracing the world; Absorbing the strengths of others and applying them to our own needs; Vigorously digesting and absorbing the latest advancements and achievements in related fields at home and abroad, striving to achieve a balance between inheritance and innovation, practical applicability and theoretical foresight (long-term effectiveness)."
Following the above guiding principles and combining some new insights and achievements we have gained in theory over the years, the 2nd Edition of this book differs significantly from the 1st Edition in the following aspects:
1. In terms of structure, the 2nd Edition has been reorganized from 5 parts (18 chapters) in the 1st Edition to 8 parts (21 chapters). From the perspective of "parts," the 2nd Edition includes newly added Part 2 ("Investment") and Part 8 ("New Developments in Modern Corporate Financial Management"). Part 6 ("Corporate Expansion and Restructuring") has been extracted from the original Part 5 ("Several Special Fields of Corporate Financial Management") and made into a standalone part.
2. In terms of content, during the writing process, on the one hand, significant modifications, updates, and expansions were made to the aforementioned parts of the 2nd Edition. On the other hand, selected cutting-edge topics and some important issues that we believe were not covered in the original book were also incorporated into the aforementioned second part of the 2nd Edition to reflect the rich developments in corporate financial management in these areas. Financialization and globalization are important characteristics of the modern market economy and permeate all aspects of socio-economic operations. We aim to take this as a guiding principle, making the relevant content concrete in the relevant chapters to align with the overall trend of contemporary historical development. This is an important feature of the revision of this book.