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CAPITAL BUDGETING AND LONG-TERM FINANCING DECISIONS
By Neil Seitz and Mitch Ellison
The Dryden Press, Fort Worth, Texas, 1995, xxiii + 881 pp. ISBN 0-03075477-1. List: $64.00.
Richard H. Bernhard
North Carolina State University
This is the best available book of which I am aware for a first-year, graduate-level course on Capital Budgeting and/or Long-Term Financing Decisions in first-rate programs of colleges of engineering and of business administration. Its coverage is comprehensive and thorough with stress on realistic application but with theoretical proofs included, mainly in footnotes, and with explicit citation of hundreds of up-to-date references from the entire gamut of academic literature on these topics.
The book is divided into five well-organized parts. Part I, Strategy and Value, consists of four chapters, 1) Long-Term Financial Decisions, 2) Market Imperfections and Value: Strategy Matters, 3) Measuring Wealth: Time...