- 名称：公司财务与金融（英文版 PPT讲义）
- 类型：财务管理
- 大小：483 KB
- 更新时间：05-02 20:00:02
- 下载次数：4369次
- 语言：简体中文
- 推荐度：
- 上传会员ID：22557013
《公司财务与金融（英文版 PPT讲义）》下载简介
Corporatefinance
Formsofbusinessorganization
Objectiveofthefirm:Maximizewealth
Determinantsofstockpricing
Thefinancialenvironment
Financialinstrumentsmarketsandinstitutions
Interestratesandyieldcurves
Whyiscorporatefinanceimportanttoallmanagers?
Corporatefinanceprovidestheskillsmanagersneedto:
Identifyandselectthecorporatestrategiesandindividualprojectsthataddvaluetotheirfirm.
Forecastthefundingrequirementsoftheircompanyanddevisestrategiesforacquiringthosefunds.
Soleproprietorship
Partnership
Corporation
Advantages:
Easeofformation
Subjecttofewregulations
Nocorporateincometaxes
Disadvantages:
Limitedlife
Unlimitedliability
Difficulttoraisecapital
Apartnershiphasroughlythesameadvantagesanddisadvantagesasasoleproprietorship.
Advantages:
Unlimitedlife
Easytransferofownership
Limitedliability
Easeofraisingcapital
Disadvantages:
Doubletaxation
Costofset-upandreportfiling
Theprimaryobjectiveshouldbeshareholderwealthmaximizationwhichtranslatestomaximizingstockprice.
Shouldfirmsbehaveethically?YES!
Dofirmshaveanyresponsibilitiestosocietyatlarge?YES!Shareholdersarealsomembersofsociety.
Ismaximizingstockpricegoodforsocietyemployeesandcustomers?
Employmentgrowthishigherinfirmsthattrytomaximizestockprice.Onaverageemploymentgoesupin:
firmsthatmakemanagersintoowners(suchasLBOfirms)
firmsthatwereownedbythegovernmentbutthathavebeensoldtoprivateinvestors
Consumerwelfareishigherincapitalistfreemarketeconomiesthanincommunistorsocialisteconomies.
Fortuneliststhemostadmiredfirms.Inadditiontohighstockreturnsthesefirmshave:
highqualityfromcustomers’view
employeeswholikeworkingthere
Amountofcashflowsexpectedbyshareholders
Timingofthecashflowstream
Riskofthecashflows
Salesrevenues
Currentlevel
Short-termgrowthrateinsales
Long-termsustainablegrowthrateinsales
Operatingexpenses(e.g.rawmaterialslaboretc.)
Necessaryinvestmentsinoperatingcapital(e.g.buildingsmachinesinventoryetc.)
……………………
本站免费提供《公司财务与金融（英文版 PPT讲义）》下载，我们己经对《公司财务与金融（英文版 PPT讲义）》进行全面的整理检查，以保证您安全的下载《公司财务与金融（英文版 PPT讲义）》，本站还有更多房地产资料提供下载，为下次能方便快速的找到本站，记得收藏我们的网址（
http://www.liushuye.com）哦！
