This book presents corporate finance as an application of a small set of simple core ideas. Modern finance theory and practice is grounded in the idea of the absence of arbitrage—or the Law of One Price—as the unifying concept in valuation. We introduce the Law of One Price concept as the basis for NPV and the time value of money in Chapter€3, Financial Decision Making and the Law of One Price. In the opening of each part and as pertinent

throughout the remaining chapters, we relate major concepts to the Law of One Price, creating a framework to ground the student reader and connect theory to practice.

这本书介绍了公司财务作为一个集合简单的核心思想的应用。现代金融理论和实践的基础是无套利或一价定律作为统一的估值概念。在第三章“财务决策和一价定律”中，我们介绍了作为净现值和货币时间价值基础的一个价格概念。在接下来的几章中，我们将主要概念与一价定律联系起来，为学生读者建立一个框架，并将理论与实践联系起来。