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ID:43196555
大小:300.00 KB
页数:29页
时间:2019-10-02
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1、CorporateFinanceRossWesterfieldJaffeSixthEdition1ChapterOneIntroductiontoCorporateFinancePreparedbyGadyJacobyUniversityofManitobaandSebouhAintablianAmericanUniversityofBeirutChapterOutline1.1WhatisCorporateFinance?1.2CorporateSecuritiesasContingentClaimsonTotalFirmValue1.3TheCor
2、porateFirm1.4GoalsoftheCorporateFirm1.5FinancialInstitutions,FinancialMarkets,AndTheCorporation1.6TrendsinFinancialMarketsandManagement1.7OutlineoftheTextWhatisCorporateFinance?CorporateFinanceaddressesthefollowingthreequestions:Whatlong-terminvestmentsshouldthefirmengagein?Howcan
3、thefirmraisethemoneyfortherequiredinvestments?Howmuchshort-termcashflowdoesacompanyneedtopayitsbills?TheBalance-SheetModeloftheFirmCurrentAssetsFixedAssets1Tangible2IntangibleTotalValueofAssets:Shareholders’EquityCurrentLiabilitiesLong-TermDebtTotalFirmValuetoInvestors:TheBalance-
4、SheetModeloftheFirmCurrentAssetsFixedAssets1Tangible2IntangibleShareholders’EquityCurrentLiabilitiesLong-TermDebtWhatlong-terminvestmentsshouldthefirmengagein?TheCapitalBudgetingDecisionTheBalance-SheetModeloftheFirmHowcanthefirmraisethemoneyfortherequiredinvestments?TheCapitalStr
5、uctureDecisionCurrentAssetsFixedAssets1Tangible2IntangibleShareholders’EquityCurrentLiabilitiesLong-TermDebtTheBalance-SheetModeloftheFirmHowmuchshort-termcashflowdoesacompanyneedtopayitsbills?TheNetWorkingCapitalInvestmentDecisionNetWorkingCapitalShareholders’EquityCurrentLiabili
6、tiesLong-TermDebtCurrentAssetsFixedAssets1Tangible2IntangibleCapitalStructureThevalueofthefirmcanbethoughtofasapie.Thegoalofthemanageristoincreasethesizeofthepie.TheCapitalStructuredecisioncanbeviewedashowbesttosliceupthepie.Ifhowyouslicethepieaffectsthesizeofthepie,thenthecapital
7、structuredecisionmatters.50%Debt50%Equity25%Debt75%Equity70%Debt30%EquityHypotheticalOrganizationChartChairmanoftheBoardandChiefExecutiveOfficer(CEO)BoardofDirectorsPresidentandChiefOperatingOfficer(COO)TreasurerControllerCashManagerCapitalExpendituresCreditManagerFinancialPlann
8、ingTaxManagerFinancialAccountingC
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