Tài liệu Khối Ngành Kinh Tế

Commercial paper is a short-term, unsecured promissory note issued by a firm with a high credit standing. Generally only large firms in excellent financial condition can issue commercial paper. Most commercial paper has maturities ranging from 3 to 270 days, is issued in multiples of $100,000 or more, and is sold at a discount form par value. Co...

45 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 623 | Lượt tải: 0

The average collection period is the average number of days that credit sales are outstanding and has two parts: The time from sale until the customer places the payment in the mail, and The time to receive, process, and collect payment.

64 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 845 | Lượt tải: 0

A stock split is a recapitalization that affects the number of shares outstanding, par value, earnings per share, and market price. The rationale for a stock split is that it lowers the price of the stock and makes it more attractive to individual investors

51 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 593 | Lượt tải: 0

To avoid this, lenders impose various monitoring costs on the firm. Examples would of these monitoring costs would: include raising the rate on future debt issues, denying future loan requests, imposing restrictive bond provisions.

72 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 667 | Lượt tải: 0

Finally, add together the total market value of the firm’s equity to the total market value of the firm’s debt. This yields the total market value of the firm’s assets. To estimate the market value weights, simply dividend the market value of either debt or equity by the market value of the firm’s assets .

44 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 631 | Lượt tải: 0

Simulation is a statistically-based behavioral approach that applies predetermined probability distributions and random numbers to estimate risky outcomes. Figure 10.1 presents a flowchart of the simulation of the NPV of a project. The use of computers has made the use of simulation economically feasible, and the resulting output provides an exce...

59 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 570 | Lượt tải: 0

Powell Corporation, a large diversified manufacturer of aircraft components, is trying to determine the initial investment required to replace an old machine with a new, more sophisticated model. The machine’s purchase price is $380,000 and an additional $20,000 will be necessary to install it. It will be depreciated under MACRS using a 5-year reco...

39 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 773 | Lượt tải: 0

Although considerable evidence supports the concept of market efficiency, research collectively known as behavioral finance has begun to cast doubt on this notion. Behavioral finance is a growing body of research that focuses on investor behavior and its impact on investment decisions and stock prices. Throughout this book, we ignore both disbel...

62 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 700 | Lượt tải: 0

Companies and governments borrow internationally by issuing bonds in the Eurobond market and the foreign bond market. A Eurobond is issued by an international borrower and sold to investors in countries with currencies other than the currency in which the bond is denominated. In contrast, a foreign bond is issued in a host country’s financial mar...

56 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 789 | Lượt tải: 0

The coefficient of variation, CV, is a measure of relative dispersion that is useful in comparing risks of assets with differing expected returns. Equation 5.4 gives the expression of the coefficient of variation.

46 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 689 | Lượt tải: 0