【正文】
:49March 29, 2023 ? 1行動(dòng)出成果,工作出財(cái)富。Chapter 5 Fundamentals of Corporate Finance Third Edition Valuing Stocks Brealey Myers Marcus slides by Matthew Will Irwin/McGrawHill Topics Covered ?Stocks and the Stock Market ?Book Values, Liquidation Values and Market Values ?Valuing Common Stocks ?Simplifying the Dividend Discount Model ?Growth Stocks and Ine Stocks Stocks Stock Market Primary Market Place where the sale of new stock first occurs. Initial Public Offering (IPO) First offering of stock to the general public. Seasoned Issue Sale of new shares by a firm that has already been through an IPO Stocks Stock Market Common Stock Ownership shares in a publicly held corporation. Secondary Market market in which already issued securities are traded by investors. Dividend Periodic cash distribution from the firm to the shareholders. P/E Ratio Price per share divided by earnings per share. Stocks Stock Market 5 7 7 7 . 64 4 8 1 . 71 9 8 9 . 51 4 1 4 . 18 9 6 . 11 0 6 7 . 71 3 0 8 . 65 7 0 . 52223 0 5 . 21 4 3 . 201000202330004000500060001997 Trading Value ($bil) NYSENasdaqLondonParisTokyoGermanTaiwanZurichOsakaTorontoAmexSto ck M ar ketStocks Stock Market Book Value Net worth of the firm according to the balance sheet. Liquidation Value Net proceeds that would be realized by selling the firm’s assets and p