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ROA = Net income / Total assets = $253.6 / $3,497 = 7.3% ROE = Net income / Total common equity = $253.6 / $1,952 = 13.0%
37 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 760 | Lượt tải: 0
When someone buys an option as an opening transaction, the owner of an option will ultimately do one of three things with it: Sell it to someone else Let it expire Exercise it For example, buying a ticket to an athletic event
45 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 790 | Lượt tải: 0
FCF = OCF – Gross capital investment - OR - FCF02 = NOPAT – Net capital investment = -$78,569 – ($1,852,832 - $1,187,200) = -$744,201 Is negative free cash flow always a bad sign?
30 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 755 | Lượt tải: 0
Managers are naturally inclined to act in their own best interests. But the following factors affect managerial behavior: Managerial compensation plans Direct intervention by shareholders The threat of firing The threat of takeover
17 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 682 | Lượt tải: 0
The underlying asset is that which you have the right to buy or sell (with options) or the obligation to buy or deliver (with futures) Listed derivatives trade on an organized exchange such as the Chicago Board Options Exchange or the Chicago Board of Trade
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Other services may include: discount brokerage service - purchase/sale of individual direct securities, such as stocks and bonds. Transaction Accounts - check writing and/or debit card relationship to mutual fund. Pension fund management for businesses
39 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 674 | Lượt tải: 0
The brokerage function is to bring a buyer and seller together. Dealer function - buying (bid) and selling (ask) from an inventory of securities owned by the seller. Providing loans to customers, who invest the margin proportion and borrow the rest. Dealer security inventories and customer credit are financed by bank call loans and repurchase ag...
34 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 731 | Lượt tải: 0
Popular in the 1990’s with rapid growth in equity values. Fixed-premium Insured direct investment of cash values Guaranteed death benefit No guaranteed cash value
29 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 752 | Lượt tải: 0
Mutual institutions organized much like a club with each member(share owner) having a vote to elect the board of directors. Membership requires a common bond (e.g., same employer, church, trade association). Credit Union Assets have grown steadily in recent years.
34 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 770 | Lượt tải: 0
Insurance Agencies as “Police”: Depositors aren’t worried. They have no incentive to withdraw funds from an institution even if it is taking many risks. Deposit insurance funds must thus have a “police” mentality—try to protect the public who no longer protect themselves. This is a major reason institutions must be regularly examined. Stockholders...
39 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 703 | Lượt tải: 0
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