Financial Statement Analysis and Security Valuation

Stephen H Penman

ISBN 10: 0071267808 / ISBN 13: 9780071267809

Published by McGraw-Hill Higher Education, 2009

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Bibliographic Details

• Title: Financial Statement Analysis and Security Valuation
• Publisher: McGraw-Hill Higher Education
• Publication Date: 2009
• Language: English
• ISBN 10: 0071267808
• ISBN 13: 9780071267809
• Binding: Paperback
• Edition: 4th Edition
• Condition: Used; Very Good

About this title

Synopsis

This book describes valuation as an exercise in financial statement analysis. Students learn to view a firm through its financial statements and to carry out the appropriate financial statement analysis to value the firm's debt and equity. The book takes an activist approach to investing, showing how the analyst challenges the current market price of a share by analyzing the fundamentals. With a careful assessment of accounting quality, accounting comes to life as it is integrated with the modern theory of finance to develop practical analysis and valuation tools for active investing.

About the Author

Stephen Penman is the L.H. Penney Professor of Accounting at the University of California at Berkeley. He received his Ph.D. from the University of Chicago in 1978. He has published extensively in the Journal of Accounting and Economics, the Journal of Accounting Research, and the Contemporary Accounting Research journal. he currently on the editorial board of the Review of Accounting Studies. He is known around the world for his reserch in Financial Accounting.