• Tài chính doanh nghiệp - Corporate stockTài chính doanh nghiệp - Corporate stock

    One popular modern theory regarding the valuation of stocks is the random walk theory. According to the theory, successive changes in the price of a stock are random fluctuations around that stock’s intrinsic value, and these changes are independent of the sequence of price changes that occurred in the past. But of course, many analysts still sub...

    ppt28 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 718 | Lượt tải: 0

  • Tài chính doanh nghiệp - Business borrowingTài chính doanh nghiệp - Business borrowing

    The growth in corporate borrowing is due to: inflation the increased use of financial leverage to boost returns to corporate stockholders the development of international capital markets recent relatively-low interest rates the rash of corporate takeovers (leveraged buyouts) and mergers

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  • Tài chính doanh nghiệp - State and local governments in the financial marketsTài chính doanh nghiệp - State and local governments in the financial markets

    Many observers question the social benefit of the tax-exemption privilege. Although state and local governments can borrow more cheaply, the federal government must tax more heavily to make up for the lost revenue. Many important investor groups (such as pension funds) have little need for tax shelters.

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  • Tài chính doanh nghiệp - The treasury in the financial marketsTài chính doanh nghiệp - The treasury in the financial markets

    New Treasury bills, notes, and bonds can be bought directly from the Treasury Department or from the Treasury’s agents – the Federal Reserve banks. Many investors also place orders for new Treasury issues through a security broker or dealer, bank, or nonbank financial institution.

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  • Tài chính doanh nghiệp - The regulation of the financial institutions’ sectorTài chính doanh nghiệp - The regulation of the financial institutions’ sector

    Regulation seeks to promote the safety and stability of financial institutions in order to preserve the confidence of the public and avoid institutional failures. However, regulation can become a costly burden that significantly increases the operating costs of financial institutions and limits the cleansing effects of failure and competition.

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  • Tài chính doanh nghiệp - Chapter 18: Internatinal aspects pf financial planningTài chính doanh nghiệp - Chapter 18: Internatinal aspects pf financial planning

    Given: Canadian$ spot rate (S0) = 1.2488 C$/USD Expected U.S. inflation (hUS) = 3% per year Expected Canadian inflation (hFC) = 2% Will the USD appreciate or depreciate relative to the Canadian dollar? What is the expected exchange rate in one year?

    ppt43 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 913 | Lượt tải: 0

  • Tài chính doanh nghiệp - Mutual funds, pension funds, insurance companies, finance companies, and other financial institutionsTài chính doanh nghiệp - Mutual funds, pension funds, insurance companies, finance companies, and other financial institutions

    The majority of the close to 1,700 U.S. life insurance companies are stockholder-owned corporations. The rest are mutuals that issue ownership shares to their policyholders. The population reached a high of almost 2,350 in 1988 and has been falling ever since. Most notably, the largest life insurers today are converging with other financial insti...

    ppt43 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 861 | Lượt tải: 0

  • Tài chính doanh nghiệp - Chapter 17: Working capital managementTài chính doanh nghiệp - Chapter 17: Working capital management

    EOQ = Economic Order Quantity EOQ minimizes total inventory cost Q = inventory quantity in each order Q/2 = Average inventory T = firm’s total unit sales per year T/Q = number of orders per year CC = Inventory carrying cost per unit F = Fixed cost per order

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  • Tài chính doanh nghiệp - Nonbank thrift institutions: savings & loan associations, savings banks, credit unions, and money market fundsTài chính doanh nghiệp - Nonbank thrift institutions: savings & loan associations, savings banks, credit unions, and money market funds

    On the whole, money market funds hold high-quality assets. The short maturity of the assets results in a highly liquid security portfolio that can be adjusted quickly to suit changing market conditions. They are mostly “no load” funds – there is no commission charge for opening an account, purchasing more shares, or redeeming shares. The accounts ...

    ppt28 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 732 | Lượt tải: 0

  • Tài chính doanh nghiệp - Chapter 16: Short term finacial planningTài chính doanh nghiệp - Chapter 16: Short term finacial planning

    Accounts Receivable Financing Assigning receivables Lender has A/R as security but borrower still responsible for collection Factoring receivables A/R discounted and sold to a factor Collection = factor’s problem

    ppt35 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 812 | Lượt tải: 0