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Lecture I Introduction to Internantinal Finance Management Learning Objectives ? Define the field of corporate finance ? Describe the three major types of corporate financial management decisions ? Compare and contrast the three different view of corporation ? Identify the conflicts of interest between various stakeholders. What is Internantional Finance Management ? Internantional Finance Management focuses on how a corporation can create and maintain value. ? Investment decisions ? The time value of money ? Cost of capital ? Capital budgeting using NPV ? Capital budgeting under uncertainty What is Internatinal Finance Management ? Financing decisions ? The relevance of capital structure ? The optimal capital structure ? Payout policy ? Longterm debt financing ? IPO ? Managerial decisions ? Working capital management ? Shortterm financial planning ? Special topics ? Mergeamp。Acquisitions ? Risk management ? International corporate finance Course Assessment ? Two cases (40%) ? Work in group up to six students ? Class presentation is encouraged ? Final Exam (60%) ? Final exam is closedbook Careers in Finance Management ? EntryLevel Positions ? Financial analyst ? Credit analyst ? Cash manager ? Senior positions ? Assistant Treasurer ? Corporate risk manager ? Pension fund manager ? Very Senior Positions ? Chief financial officer(CFO) The investment vehicle model ? The investment vehicle model: the firm is an investment vehicle, investors provide funds in exchange for financial securities. Under this model,