财务管理资料整理.doc

《财务管理资料整理.doc》由会员上传分享，免费在线阅读，更多相关内容在工程资料-天天文库。

1、一、名称解释（1）机会成本OpportunityCost（DOpportunitycost:Thediffereneebetweenthevalueofoneactionandthevalueofthebestalternativeaction.%1Whentheopportunitycostissmall,thecostofanincorrectchoiceissmall・%1Whentheopportunitycostislarge,thecostofnotmakingthebestchoiceislarge.（2）AgencyTheory代理

2、理论AnimportantapplicationofthePrincipleofSelf-1nterestedBehaviorAgencyTheory%1AgencyTheory:Theanalysisofparticipantbehaviorinaprincipal-agentrelationship（委托代理关系）Principal-AgentRelationship:Asituationinwhichoneparticipant,theagent,makesdecisionsthataffectanotherparticipant,thepr

3、incipal.%1Agent（代于里人）:Oneoftheparticipantsinaprincipal-agentrelationships・%1Principal（委托人）:Oneoftheparticipantsinaprincipal-agentrelationship.（3）MoralHazard道德风险%1MoralHazard:Asituationinwhichanagentcantakeunseenactions（不可观测的行为）forpersonalbenefiteventhoughsuchactionsarecostlyto

4、theprincipal.%1Agencytheoryhelpsusdevelopmoreeffectiveprovisions（条款）forcontracts（契约）betweenaprincipalandanagent・%1Atypicalgoalofsuchcontractprovisionistoreduceconflictsofinterest（利益冲突）,therebyreducingmoralhazardproblem・（4）TheSignalingPrinciple:ActionsConveyInformation信号原则：行为传递

5、信息CDTheSignalingPrincipleisantherextensionofthePrincipleofSelf-InterestedBehavior.©Assumingself-interestedbehavior,wecanguessattheinformationoroptionsbehindthedecisionsthatweobserve・（5）ProbabilityandStatistics（概率统计）CDTheriskofanassetsisthelikelihooditsrealizedreturnwillvarysub

6、stantiallyfromitsexpectedreturn.%1RandomVariables（随机变量）:Arandomvariableisnotperfectlypredictable.%1Probabilities（概率）:Probabilitiesmustsatisfytwoconditions:（1）Aprobabilitycan'tbenegative（2）.Theprobabilitiesofallpossibleoutcomesmustsumto1.0.（1）概率不为负（2）概率之和为1（6）Beta贝塔系数Beta:Theco

7、varianeeofanasset'sreturnwiththemarketportfolio'sreturndividedbythevarianceofthemarketportfolio'sreturn.Betaisameasureofnondiversifiableormarketrisk（不可分散风险和市场风险）.（7）TheAssumptionsoftheCapitalPricingModel资本资产定价模型的假设Assumption1:Investorscanchoosebetweenportfoliosonthebasisofexpe

8、ctedreturnandvarianee.假设1:投资者能够从基于期望收益和方差的投资组合中选择Assumption2: