Corporate Finance — Hillier Review (European Edition)
Quick Answer: Corporate Finance by David Hillier is the leading European corporate finance textbook — specifically adapted for UK and European students with European companies, regulatory context, and examples throughout. The 5th edition (2024, ISBN 9781526849915) is current.
Yes — if your university recommends it. The most accessible of the three main corporate finance textbooks and the best adapted for UK/European students. Popular at Strathclyde, Nottingham, Leeds, Cardiff, and similar universities.
📋 In This Review
What Is Hillier Corporate Finance?
Corporate Finance by David Hillier (Executive Dean, Strathclyde Business School), Ross, Westerfield, Jaffe and Jordan is the European adaptation of the classic Ross/Westerfield/Jordan series. Now in its 5th edition (2024, McGraw-Hill), it is genuinely European-first — built around European companies, regulatory frameworks, and financial markets from the ground up.
| Lead Author: | David Hillier (University of Strathclyde) |
| Current Edition: | 5th Edition (2024) |
| Publisher: | McGraw-Hill Education |
| ISBN: | 9781526849915 |
| Used at: | Strathclyde, Nottingham, Leeds, Cardiff, Aston, Hull, Heriot-Watt |
| Best for: | Undergraduate finance, European context, accessible introduction |
What’s Inside the 5th Edition
Overview and Valuation: Gradual, well-signposted progression from time value of money through NPV and capital budgeting — more accessible than Brealey Myers or Berk DeMarzo for students new to finance.
Risk and Return: Portfolio theory and CAPM with European market data. Updated coverage of factor models in the 5th edition.
Real World Insight boxes: European companies — Siemens, Adidas, Avast, Volkswagen, HSBC, BP — illustrate concepts throughout.
FinTech: Updated 5th edition coverage of financial technology and digital currencies.
Post-Brexit: UK-EU financial relationships and the post-Brexit landscape addressed throughout.
“Hillier made corporate finance genuinely accessible. The European examples made it feel relevant — studying Siemens rather than US companies we’d never heard of.”
— Priya, Year 3 Finance, University of Nottingham
European Perspective — What’s Different
European companies throughout: Siemens, Adidas, HSBC, BP rather than US companies dominating.
UK and EU regulatory context: Companies Act, FCA regulation, and EU directives rather than US securities law.
European capital markets: London Stock Exchange and Euronext rather than NYSE and NASDAQ.
Which Edition to Buy
5th Edition (2024) — ISBN 9781526849915. Current. Updated FinTech coverage and latest post-Brexit material.
4th Edition (2021) — ISBN 9781526848086. Same core content. Used copies £20–30 on AbeBooks vs £65–75 new for the 5th — excellent value unless your module specifies the 5th.
💰 Save £35–45 Buying Used
A used 4th edition (ISBN 9781526848086) typically costs £20–30 on AbeBooks versus £65–75 new for the 5th. Core corporate finance content unchanged between editions.
Is Hillier Corporate Finance suitable for UK undergraduates?
Yes — Hillier is the most accessible of the three main corporate finance textbooks and the most specifically adapted for UK/European students. European company examples, UK regulatory context, and clear writing make it particularly suitable for undergraduate finance students.
What is the difference between Hillier and Brealey Myers?
Hillier is a European adaptation — more accessible, European-focused, and applied. Brealey Myers is more theoretically rigorous, used at LBS, Oxford, and Cambridge. Hillier suits undergraduate accessibility; Brealey Myers suits theoretical depth and MBA programmes.
Which edition of Hillier should I buy?
The 5th edition (ISBN 9781526849915, 2024) is current. The 4th edition (ISBN 9781526848086) covers the same core content and costs £20-30 used on AbeBooks. Always check your reading list first.
Does Hillier cover the same topics as Brealey Myers?
Yes — all three textbooks cover the core corporate finance curriculum: NPV, capital budgeting, risk and return, capital structure, dividend policy, options, and working capital. Differences are in depth, approach, and context rather than topic coverage.
Last Updated: Last Updated: July 2026 | Author: Textbooks.co.uk Editorial Team
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