公司理財ppt16英文-理財-文庫吧資料
2024-08-23 15:03本頁面
【正文】 nance 169。 Professor HoMou Wu Financial Markets ? Primary Market – When a corporation issues securities, cash flows from investors to the firm. – Usually an underwriter is involved ? Secondary Markets – Involve the sale of “used” securities from one investor to another. – Securities may be exchange traded or trade overthecounter in a dealer market. 18 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 How can the firm raise the money for the required investments? The Capital Structure Decision (Financing Decision) Current Assets Fixed Assets 1 Tangible 2 Intangible Shareholders’ Equity Current Liabilities LongTerm Debt 14 Corporate Finance 169。 Professor HoMou Wu The BalanceSheet Model of the Firm Current Assets Fixed Assets 1 Tangible 2 Intangible To
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