公司理財（ppt16）（英文）-理財-全文預(yù)覽
【正文】 the shareholder’s claim is: Max[0,$X – $F] 114 Corporate Finance 169。 Professor HoMou Wu Investment Environment 110 Corporate Finance 169。 Professor HoMou Wu Capital Structure The value of the firm can be thought of as a pie. The goal of the manager is to increase the size of the pie. The Capital Structure decision can be viewed as how best to slice up a the pie. If how you slice the pie affects the size of the pie, then the capital structure decision matters. 50% Debt 50% Equity 25% Debt 75%70% 30% Equity 16 Corporate Finance 169。 Professor HoMou Wu The BalanceSheet Model of the Firm Current Assets Fixed Assets 1 Tangible 2 Intangible Total Value of Assets: Shareholders’ Equity Current Liabilities LongTerm Debt Total Firm Value to Investors: 12 Corporate Finance 169。 Professor HoMou Wu Introduction to Corporate Finance Corporate Finance addresses the following three questions: 1. What longterm investments should the firm engage in? 2. How can the firm raise money for the required investments? 3. How much shortterm cash flow does a pany need to pay its bills? (RWJ ) 11 Corporate Finance 169。 Professor HoMou Wu The BalanceSheet Model of the Firm How much shortterm cash flow does a pany need to pay its
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