Introduction to Corporate Finance, 4th Edition

Laurence Booth, DBA, MBA, MA (Indiana University); BS (London School of Economics), is Professor of Finance and holds the CIT chair in structured finance at the Rotman School of Management, University of Toronto. His major research interests are in corporate finance and the behaviour of regulated industries. He has published over 70 articles in numerous journals including Journal of Finance and Journal of Financial and Quantitative Analysis, has co‐authored a textbook on international business and two on corporate finance, and is on the editorial board of several academic journals.

At the University of Toronto since 1978, Professor Booth has taught graduate courses in business finance, international financial management, corporate financing, mergers and acquisitions, financial management, financial markets, applied asset management, and financial theory, as well as many short executive courses. He has been the primary doctoral supervisor for 16 students at the University of Toronto. His advice is frequently sought by the media, and he has appeared as an expert financial witness in both civil cases and before various regulatory tribunals in Canada.

Sean Cleary, CFA, is the BMO Professor of Finance at the Smith School of Business, Queen’s University. Dr. Cleary holds a PhD in finance from the University of Toronto, an MBA, is a Chartered Financial Analyst (CFA) charter holder, and is a former board member of both the Atlantic Canada and Toronto CFA societies. He has also completed the Professional Financial Planning Course (PFPC), the Canadian Securities Course (CSC), and the Investment Funds Institute of Canada (IFIC) Mutual Fund Course. Dr. Cleary has taught numerous university finance courses as well as courses and seminars in many programs designed to prepare students to write exams for all three levels of the CFA program and the CSC. He is the Canadian author of the first three editions of Investments: Analysis and Management and the co‐author of the sixth edition of Finance in a Canadian Setting, both published by John Wiley & Sons Canada, Ltd. He is also the author of the first four editions of The Canadian Securities Exam Fast Track Study Guide, also published by Wiley.

Dr. Cleary has published numerous research articles in various journals, including Journal of Finance, Journal of Financial and Quantitative Analysis, Financial Management, Journal of Banking and Finance, and Journal of Financial Research among others. He has received several major research grants from the Social Sciences and Humanities Research Council of Canada (SSHRC). He currently serves as associate editor (Finance) of Canadian Journal of Administrative Sciences and associate editor of European Journal of Finance. Dr. Cleary makes frequent appearances on television and the radio and has been featured in several newspapers.

Ian Rakita, CFA, started teaching in the Department of Finance at Concordia University’s John Molson School of Business in 1993 after extensive industry experience. He received his Bachelor of Science degree from McGill University, where he majored in mathematics, and his MBA from Concordia University. He earned his PhD from Concordia in 2000. During 1997–1998 he taught at Wilfrid Laurier University in Waterloo, Ontario, where he received a commendation for teaching excellence. Dr. Rakita teaches courses at the undergraduate and graduate level in corporate finance, fixed income securities, and derivatives. He has also taught courses in operations research and business statistics. His research interests are in the microstructure of new and secondary equity offerings as well as the efficiency of Canadian capital markets.

Dr. Rakita has published articles in Journal of Banking and Finance, Multinational Finance Journal, The Engineering Economist, Canadian Investment Review, and Journal of the Operational Research Society. He is the only two‐time winner of the Gold Prize for outstanding paper awarded in an annual contest sponsored by the Montreal Society of Financial Analysts, where he has also served on the board of directors. Dr. Rakita completed the requirements for the Chartered Financial Analyst designation in 2001. He is currently the Director of the MBA program at Concordia University’s Goodman Institute of Investment Management. This specialized MBA program links the requirements of the CFA curriculum with the academic requirements of a traditional MBA degree.