英文版公司理財(cái)課件cha(1)-wenkub
2023-05-23 14:02:09 本頁面
【正文】 0% Debt 50% Equity 25% Debt 75%70% 30% Equity 16 ShortTerm Asset Management How should shortterm assets be managed and financed? Net Working Capital Shareholders’ Equity Current Liabilities LongTerm Debt Current Assets Fixed Assets 1 Tangible 2 Intangible 17 SelfTest ? Are the following capital budgeting or financing decisions? Hint: In one case the answer is “both” a. Intel decides to spend $1 billion to develop a new microprocessor b. Volkswagen borrows 350 million euros from Deutsche Bank c. BP (British Petroleum) constructs a pipeline to bring natural gas onshore from a production platform in the Gulf of Mexico d. Budweiser spends 200 million euros to launch a new brand of beer in European markets e. Pfizer issues new shares to buy a small biotech pany 18 Financing and investment decisions are separated and connected ? The amount of investment determines the amount of financing that has to be raised ? The investors who contribute financing today expect a return on that investment in the future ? Thus, the investments that the firm makes today have to generate future returns for payout to investors 19 ? To carry on business, corporations need an almost endless variety of real assets. ? Many of these assets are tangible, such as machinery, factories, and offices。 (4a) cash reinvested。 (2) cash invested in the firm’s operations and used to purchase real assets。1 Fundamentals of Corporate Finance 2 ? Grades ? Assignments (25%) ? Class participation (15%) ? Final exam (60%) ? Email: 3 Chapter 1 The Corporation and the Financial Manager 4 Objectives 1. Give examples of the investment and financing decisions that financial managers make, and explain the responsibilities of the CFO, treasurer, and controller 2. Cite some of the advantages and disadvantages of anizing a business as a corporation 3. Explain why maximizing market value is the logical financial goal for the c
環(huán)評公示相關(guān)推薦
鄂ICP備17016276號-1