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1、ILPIPMembersCourseManualCourseManualCourseManualCorporateFinanceCorporateFinanceCorporateFinanceCopyright©200Copyright©2008Copyright©200888,,,,AZEKAZEKAZEK/ILPIPAZEK/ILPIP/ILPIP,Geneva/ILPIP,Geneva,Geneva(,Geneva(((Switzerland)Switzerland)Switzerland)Switzerland)CORPORATEFINANCECOURSEMANUALCopyri
2、ght©2008,AZEK/ILPIPCORPORATEFINANCECopyrightÓ2008,AZEK/ILPIPAllrightsreserved.Nopartofthispublicationmaybereproduced,storedinaretrievalsystem,ortransmitted,inanyformorbyanymeans,electronic,mechanical,photocopying,recording,orotherwise,withoutthepriorwrittenpermissionofAZEK/ILPIP.1.)Fundamentalsof
3、CorporateFinance2.)Long-TermFinanceDecisions3.)Short-TermFinanceDecisions4.)CapitalStructureandDividendPolicy5.)MergersandAcquisitions6.)InternationalCorporateFinance7)Exercises:Questions8)Exercises:SolutionsCORPORATEFINANCEChapter1FUNDAMENTALSOFCORPORATEFINANCECopyright©2008AZEK/ILPIPCORPORATEFI
4、NANCECopyrightÓ2008,AZEK/ILPIPAllrightsreserved.Nopartofthispublicationmaybereproduced,storedinaretrievalsystem,ortransmitted,inanyformorbyanymeans,electronic,mechanical,photocopying,recording,orotherwise,withoutthepriorwrittenpermissionofAZEK/ILPIP.Tableofcontents1.Fundamentalsofcorporatefinance
5、11.1GoalsofcorporateFinance....................................................................................................................11.1.1ValueMaximisationOfShareholders...............................................................................................11.1.2CorporateGoverna
6、nceIssue.............................................................................................................31.1.2.1AgencyRelationship....................................................................................................................51.1.2.2ControlofTheFirm..............
7、......................................................................................................61.2TheFinanceFunctionAndTheFirm’sObjectives........................................................................