Doing business in the current global market continues to become more challenging than ever as the competition has been intense and uncertainties have been around. Financial managers must be able to detect opportunities, assess investments and manage risk and uncertainties to maximize shareholder wealth and benefit stakeholders. Making sound investment decisions is critical for a company's survival and sustainable development. Proper capital budgeting, careful risk analysis, and wise financial investments generate a company'slong-term competitive advantage resulting in business value improvement and shareholder value enhancement.

The future labour force in Finance - Banking faces a fast-moving working environment which requires the next generation not only to have a strong background in corporate finance, management, accounting, and other related subjects but also the ability to make financial decisions independently and confidently. Highly qualified employees are a fundamental driving force for the development of the financial industry in the context of global integration.

This textbook "Fundamentals of capital budgeting and financial investment" is written with strong efforts to provide readers with a comprehensive and detailed picture of capital budgeting and financial investments. This textbook helps students understand the fundamental knowledge of investment appraisal and the basics of investment in financial assets.

This book consists of 4 chapters, with the first three focusing on capital bud geting for physical asset investment, and the last for financial assets. Chapter 1 introduces the definition and features of capital budgeting and the detail of cash flow estimation. Investment evaluation techniques are presented in Chapter 2, acquiring these techniques helps financial decision-makers to choose the most attractive investment proposals. Chapter 3 provides a closer look at several complications of capital budgeting in practice and introduces approaches for risk and uncertainty analysis in capital budgeting. This third chapter also discusses the sources of finance for an investment and the methods for evaluating the project with leverage. Chapter 4 concentrates on financial investment, providing a basis for bonds and stock valuation.

Despite our best attempts to provide an accurate finished textbook, it is possible that there may be small mistakes and errors due to the limits of knowledge and developments through time. We very much appreciate questions, comments and feedback from dear colleagues and readers to further improve this textbook.

With best regards and many thanks,

The chief authors

Ph.D. Pham Thi Van Anh

Ph.D. Ngo Thi Kim Hoa

And the team members:

Assoc. Prof. Vu Van Ninh, Assoc. Doan Huong Quynh, Assoc Prof. Pham Thi Thanh Hoa, Ph.D. Tran Thanh Thu, Ph.D. Dang Phuong Mai, Ph.D. Bui Thi Ha Linh, Ph.D. Nguyen Truong Giang, Ph.D. Nguyen Thu Thuong, M.Sc. Bui Thu Ha.

Cuốn sách có bán tại các cơ sở:

Nhà sách HVTC - tầng 1 - Nhà Thư viện, Học viện Tài chính, số 58 Lê Văn Hiến, Bắc Từ Liêm, Hà Nội, ĐT liên hệ: Cô Chi (0985.935.568)

Nhà sách HVTC - tầng 1 - Nhà D, Học viện Tài chính, số 69 Đức Thắng, Bắc Từ Liêm, Hà Nội, ĐT liên hệ: Cô Hương (0867.715.020)