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ID:59565044
大小:277.00 KB
页数:22页
时间:2020-11-11
《商业财务001教学提纲.ppt》由会员上传分享,免费在线阅读,更多相关内容在教育资源-天天文库。
1、商业财务001ChapterOutline1.1WhatisCorporateFinance?1.2TheCorporateFirm1.3TheGoalofFinancialManagement1.4TheAgencyProblemandControloftheCorporation1.5FinancialMarkets1.1WhatisCorporateFinance?CorporateFinanceaddressesthefollowingthreequestions:Whatlong-terminvestmentsshouldthefirmchoose?
2、Howshouldthefirmraisefundsfortheselectedinvestments?Howshouldshort-termassetsbemanagedandfinanced?BalanceSheetModeloftheFirmCurrentAssetsFixedAssets1Tangible2IntangibleTotalValueofAssets:Shareholders’EquityCurrentLiabilitiesLong-TermDebtTotalFirmValuetoInvestors:TheCapitalBudgetingD
3、ecisionCurrentAssetsFixedAssets1Tangible2IntangibleShareholders’EquityCurrentLiabilitiesLong-TermDebtWhatlong-terminvestmentsshouldthefirmchoose?TheCapitalStructureDecisionHowshouldthefirmraisefundsfortheselectedinvestments?CurrentAssetsFixedAssets1Tangible2IntangibleShareholders’Eq
4、uityCurrentLiabilitiesLong-TermDebtShort-TermAssetManagementHowshouldshort-termassetsbemanagedandfinanced?NetWorkingCapitalShareholders’EquityCurrentLiabilitiesLong-TermDebtCurrentAssetsFixedAssets1Tangible2IntangibleCapitalStructureThevalueofthefirmcanbethoughtofasapie.Thegoalofthe
5、manageristoincreasethesizeofthepie.TheCapitalStructuredecisioncanbeviewedashowbesttoslicethepie.Ifhowyouslicethepieaffectsthesizeofthepie,thenthecapitalstructuredecisionmatters.50%Debt50%Equity25%Debt75%Equity70%Debt30%EquityTheFinancialManagerTheFinancialManager’sprimarygoalistoinc
6、reasethevalueofthefirmby:SelectingvaluecreatingprojectsMakingsmartfinancingdecisionsHypotheticalOrganizationChartChairmanoftheBoardandChiefExecutiveOfficer(CEO)PresidentandChiefOperatingOfficer(COO)VicePresidentandChiefFinancialOfficer(CFO)TreasurerControllerCashManagerCapitalExp
7、endituresCreditManagerFinancialPlanningTaxManagerFinancialAccountingCostAccountingDataProcessingBoardofDirectorsCashflowfromfirm(C)TheFirmandtheFinancialMarketsTaxes(D)GovernmentRetainedcashflows(F)Investsinassets(B)Dividendsanddebtpayments(E)CurrentassetsFixedassetsShort-termd
8、ebtLong-termdebtEqu
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