Samenvatting Wegwijs in de financiële wereld - Financiële markten
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Course
Financiële markten
Institution
Universiteit Antwerpen (UA)
Book
Wegwijs in de financiële wereld
Deze samenvatting bevat elk thema met alle bijhorende begrippen beknopt uitgelegd. De samenvatting geeft een goed overzicht. Ik behaalde een 13/20 zonder herexamen.
Inhoud
Hoofdstuk 1: Financiële architectuur ontstaat niet spontaan.................................................................7
Schuld en ruil liggen aan de wieg van onze beschaving......................................................................7
Landbouw leidt tot eigendom, handel, vermogen, belasting, geld en lenen......................................7
Munten en een eerste vorm van financiële intermediair....................................................................7
Handel doet het eerste chartaal geld en overdraagbaar handelspapier ontstaan..............................7
Het ontstaan van financiële markten..................................................................................................8
Het ontstaan van een centrale bank...................................................................................................8
Hoofdstuk 2: bouwstenen van financiële markten.................................................................................9
Financiering........................................................................................................................................9
Directe financiering via financiële markten....................................................................................9
Tussenpersonen..............................................................................................................................9
Typologie van financiële markten...................................................................................................9
Functies van financiële markten...................................................................................................10
Marktefficiëntie............................................................................................................................10
Indirecte financiering....................................................................................................................11
Verschuiven van financiële risico's....................................................................................................11
De spelers van de financiële economie.................................................................................................11
De gezinnen......................................................................................................................................11
De bedrijven.....................................................................................................................................12
Financiële sector...............................................................................................................................12
Kredietinstellingen........................................................................................................................12
Beleggingsfondsen........................................................................................................................12
Verzekeringsmaatschappijen........................................................................................................12
De Overheid......................................................................................................................................13
De tabel van bronnen en aanwendingen (flow-of-funds account)....................................................13
Eerste Principes van Waardering..........................................................................................................13
Introductie........................................................................................................................................13
Oprentren.........................................................................................................................................13
Enkelvoudige rente.......................................................................................................................13
Verdisconteren.................................................................................................................................13
Populaire Kasstroomreeksen............................................................................................................14
De Enkelvoudige Lening................................................................................................................14
De Nulcouponobligatie.................................................................................................................14
De Annuiteitenlening....................................................................................................................14
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, Rendement en intern rendement hetzelfde....................................................................................14
De prijs-intern rendement relatie.....................................................................................................14
Sensitiviteit van Obligatieprijzen.......................................................................................................14
Duration............................................................................................................................................15
Hoofdstuk 5: Determinanten van rentevoeten.....................................................................................15
Introductie........................................................................................................................................15
Determinanten van het algemene (reële) renteniveau.....................................................................16
Het mechanisme van vraag en aanbod.........................................................................................16
Vraag- en aanbod-verschuivende factoren...................................................................................16
Toepassingen................................................................................................................................16
De rol van de verwachte inflatie.......................................................................................................17
De Fisherhypothese......................................................................................................................17
Invloed van verwachte inflatie op de evenwichtsrente.................................................................17
Ex-post gerealiseerde rente..........................................................................................................17
De rentestructuur van de nominale risicoloze rentevoeten..............................................................18
Concept van de rentestructuur.....................................................................................................18
Termijnpremie..............................................................................................................................18
Determinanten van het renteniveau voor individuele kredieten......................................................18
Kredietrisicopremie......................................................................................................................18
Hoofdstuk 6: Risico...............................................................................................................................18
Financiële Risico's.............................................................................................................................18
Kredietrisico..................................................................................................................................18
Marktrisico....................................................................................................................................18
Operationeel Risico.......................................................................................................................19
Liquiditeitsrisico............................................................................................................................19
Andere Risico's..............................................................................................................................19
Portefeuillerisico...............................................................................................................................19
Hoofdstuk 7: Betalen............................................................................................................................20
Intro..................................................................................................................................................20
Vormen van geld...............................................................................................................................20
Betalingsinstrumenten......................................................................................................................21
Hoofdstuk 8: Vermogensopbouw.........................................................................................................22
Intro..................................................................................................................................................22
Vermogensopbouw onder depositogarantie....................................................................................22
Depositobescherming...................................................................................................................22
Spaarrekeningen...........................................................................................................................22
2
, Gereglementeerde spaarrekening (gewoon spaarboekje)............................................................22
Niet-gereglementeerde spaarrekeningen.....................................................................................22
Termijnrekeningen........................................................................................................................22
Kasbons.........................................................................................................................................23
Tak 21-producten..........................................................................................................................23
Vermogensopbouw zonder depositogarantie...................................................................................23
Beleggingsprofiel..........................................................................................................................23
Beleggersrekening........................................................................................................................24
Beleggen via collectieve beleggingsproducten.................................................................................24
Instrumenten................................................................................................................................24
ICB’s voor de particuliere belegger...............................................................................................25
Transparantie................................................................................................................................25
Beleggen in andere producten..........................................................................................................26
Hoofdstuk 9: Kredieten aan Gezinnen..................................................................................................26
Kredietverschaffing...........................................................................................................................26
Consumentenkredieten....................................................................................................................27
Hypothecaire Kredieten....................................................................................................................27
Hoofdstuk 10: risicoafdekking...............................................................................................................28
Woning en Auto................................................................................................................................28
Burgerrechtelijke Aansprakelijkheid.................................................................................................28
Gezondheid.......................................................................................................................................28
Arbeidsongeschiktheid en Invaliditeit...............................................................................................28
Overlijden.........................................................................................................................................28
Pensioenrisico...................................................................................................................................29
Hoofdstuk 11: betalingen.....................................................................................................................29
Intro..................................................................................................................................................29
Betalingstrategieën...........................................................................................................................29
Open account...............................................................................................................................29
Documentair incasso....................................................................................................................29
Documentair krediet.....................................................................................................................30
Deviezen...........................................................................................................................................30
Hoofdstuk 12: Aandelen.......................................................................................................................30
Aandelen en hun Kenmerken...........................................................................................................30
Vermogensrechten...........................................................................................................................31
Lidmaatschapsrechten......................................................................................................................32
Waardering van een aandeel............................................................................................................32
3
, Aandelen van Publieke Vennootschappen........................................................................................33
Beursgang.....................................................................................................................................33
Secundaire Markt.........................................................................................................................33
Aandeelindexen................................................................................................................................34
Hoofdstuk 13: bedrijfskredieten...........................................................................................................34
Bedrijfskredieten op korte termijn....................................................................................................34
Het handelskrediet.......................................................................................................................34
Het kaskrediet...............................................................................................................................34
De straight loan.............................................................................................................................34
De intercompany loan...................................................................................................................35
Het borgstellingskrediet................................................................................................................36
De warrant-ceel............................................................................................................................36
Herfinanciering door het te gelde maken van vorderingen..............................................................36
Bedrijfskredieten op lange termijn...................................................................................................36
Investeringskredieten en uitrustingsfinanciering..........................................................................36
Financieringshuur.........................................................................................................................37
De win-winlening..........................................................................................................................37
Hoofdstuk 14: Obligaties.......................................................................................................................38
Introductie........................................................................................................................................38
Obligaties en hun kenmerken...........................................................................................................38
Begrip...........................................................................................................................................38
Kenmerken....................................................................................................................................38
De emittent...................................................................................................................................38
De vergoeding voor de kredietverschaffer....................................................................................39
De looptijd....................................................................................................................................39
De terugbetalingsprijs...................................................................................................................40
De uitgifteprijs..............................................................................................................................40
Bedrijfsobligaties en euro-obligaties.............................................................................................40
Kortetermijn bedrijfseffecten........................................................................................................40
Hoofdstuk 15: Risicoafdekking..............................................................................................................41
Introductie........................................................................................................................................41
Termijncontracten............................................................................................................................41
Definitie........................................................................................................................................41
Gebruik van termijncontracten.....................................................................................................41
De kasstroom van een termijncontract.........................................................................................41
Het payoff-profiel..........................................................................................................................41
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