taiwan财务管理_lecture1(ch01)(PPT 29页)

,Irwin/McGraw-Hill,Chapter1,FundamentalsofCorporateFinanceThirdEdition,TheFirmandTheFinancialManager,BrealeyMyersMarcusslidesbyMatthewWill,Irwin/McGraw-Hill,TheMcGraw-HillCompanies,Inc.,2001,Irwin/McGraw-Hill,TopicsCovered,OrganizingaBusinessTheRoleofTheFinancialManagerFinancialMarketsWhoIsTheFinancialManagerCorporateGoals&IncentivesValueMaximization,Irwin/McGraw-Hill,OrganizingaBusiness,TypesofBusinessOrganizationsSoleProprietorshipsPartnershipsCorporations,Irwin/McGraw-Hill,OrganizingaBusiness,CorporateStructure,SoleProprietorships,Corporations,Partnerships,Irwin/McGraw-Hill,Financial,managers,Firms,operations,Financial,markets,TheRoleofTheFinancialManager,Irwin/McGraw-Hill,TheRoleofTheFinancialManager,InvestmentDecisions“CapitalBudgeting”Buyrealassetsthatareworthmorethantheycost,Irwin/McGraw-Hill,TheRoleofTheFinancialManager,“CapitalBudgeting”,TangibleAssetsEuroDisney$2billion,NontangibleAssetsGillettesMach3Razor$300million,Irwin/McGraw-Hill,TheRoleofTheFinancialManager,FinancingDecisionsSourceofFunds“CapitalMarkets”CapitalStructureMoneyMarketsEuros,FinancialMarkets,PrimaryMarkets,SecondaryMarkets,OTCMarkets,Money,Irwin/McGraw-Hill,FinancialMarkets,Company,IssueDebt,Cash,Investors,Irwin/McGraw-Hill,FinancialMarkets,Company,Intermediary,Investor,Irwin/McGraw-Hill,FinancialMarkets,Banks,Depositors,$2.5mil,Cash,Loan,Deposits,Company,Intermediary,Investor,Irwin/McGraw-Hill,FinancialMarkets,InsuranceCompany,Policyholders,$250mil,Cash,Loan,SellpoliciesIssueStock,Company,Intermediary,Investor,CareersinFinance,CareersinFinance,Wageweb-WallStreetJournal-BureauofLaborSWetfeet-OhioStateU/fin/osujobs.htm,ClicktoaccesswebsitesInternetconnectionrequired,WebLinks,GoalsofTheCorporation,ShareholdersdesirewealthmaximizationDomanagersmaximizeshareholderwealth?Mangershavemanyconstituencies“stakeholders”“AgencyProblems”representtheconflictofinterestbetweenmanagementandowners,GoalsofTheCorporation,AgencyProblemSolutions1-Compensationplans2-BoardofDirectors3-Takeovers4-SpecialistMonitoring5-Auditors,WhoisTheFinancialManager?,ChiefFinancialOfficer,Treasurer,Controller,WebResources,www.wiso.gwdg.de/ifbg//pages/,ClicktoaccesswebsitesInternetconnectionrequired,WebLinks,金融機構之角色,資本形成之方式,資金成本-利率,利率之組成realrisk-freerateofinterestinflationpremiumdefaultriskpremiumliquiditypremiummaturityriskpremium,資金成本-利率(續）,影響利率之因素productionopportunitiesandtimepreferencesexpectedinflationdefaultriskliquiditytermstructurematuritycentralbankpolicybalanceofpaymenttax&governmentdeficit,資金成本-利率(續）,利率期間結構與理論市場區隔理論流動性偏好理論預期理理論,外匯市場,重要性:投