This document is my quick-take on how the corporate finance books are similar and different.
Introductory corporate finance books overlap about 80%. None of the authors have special knowledge. They differ primarily in how they focus the learning experience. Brealey, Ross, and Berk are more similar to one another. Welch is somewhat different. It is less of an 'executive' take and more of a 'tutorial' take on corporate finance. It has more emphasis on the distinction between expected and promised returns, on the role of perfect markets, on benchmark-based (rather than just CAPM-based) pricing, and on pro-forma construction. It has less emphasis on options, leasing, and short-term/working-capital management. Some chapters are separate from the main book (e.g., governance, options, etc.) These are IMHO chapters that tend not to be covered by a first corporate finance course, but specialized follow-on courses, where dedicated textbooks can do a better job.
|3||Stocks and Bond Values (Perpet)||4||9||4,9||3|
|4||Capital Budgeting Main Rules||5,6||5,6||7,8||4|
|5||Time-Varying Rates of Return and Yield Curve||3||8||5,6||5|
|6||Uncertainty, Default, Risk||23||-||-||6|
|7||Historical Investment Patterns||7||10||10||7|
|8||Risk and Reward||8||11||11||8|
|12||Perfect, Efficient, Classical, Behavioral||13||14||13||12|
|15||Comparables and Ratios||28||?||19||15|
|17||Capital Structure (Perfect)||17||16||14||17|
|18||Capital Structure Taxes||18,19||18||15,18||18|
|19||Capital Structure (Imperfect)||18||17||16||19|
|20||Dividends and Repurchases||16||19||17||20|
|28||Working Capital Management||30||26,27,28||26,27||-|
Brealey = ed 12. Ross = ed 11. Berk = ed 4. Welch = ed 4.
Suggestions for changes to the coverage comparison are welcome. My understanding is based only on a cursory paging-through of the four books.