Samenvatting
Summary Corporate Financial Management IOR3
- Instelling
- Karel De Grote-Hogeschool (KdG)
Summary Corporate Financial Management IOR3 at Karel de Grote University College
[Meer zien]Voorbeeld 4 van de 115 pagina's
Voorbeeld 4 van de 115 pagina's
In winkelwagenVerkoper
Volgen
Voorbeeld van de inhoud
SUMMARYCORPORATE FINANCIAL
MANAGEMENT
,Table of contents
CHAPTER 1: Goals and governance of the corporation.....................................7
1. Investment and Financing decisions...............................................................................................7
2. What is a corporation?...................................................................................................................8
3. Who is the financial manager?.....................................................................................................10
4. Goals of the corporation...............................................................................................................11
5. Agency problems, executive compensation, and corporate governance.....................................11
6. The ethics of maximizing value.....................................................................................................12
7. Careers in finance.........................................................................................................................12
8. Preview of coming attractions......................................................................................................12
9. Snippets of financial history..........................................................................................................13
CHAPTER 2: Financial markets and institutions.............................................13
1. The importance of financial markets and institutions..................................................................13
2. The flow of savings to corporations..............................................................................................14
3. Functions of financial markets and intermediaries.......................................................................17
4. The crisis of 2007-2009.................................................................................................................17
CHAPTER 3: Accounting and finance...........................................................17
1. The Balance Sheet........................................................................................................................17
Book values and market values....................................................................................................18
2. The income statement..................................................................................................................19
Profits vs cash flows......................................................................................................................19
3. The statement of cash flows.........................................................................................................19
Free cash flow...............................................................................................................................20
4. Accounting practice and malpractice............................................................................................20
Corporate tax rates (2018)............................................................................................................21
5. Taxes.............................................................................................................................................21
CHAPTER 4: Measuring corporate performance.............................................21
1. How financial ratios relate to shareholder value..........................................................................21
2. Measuring market value and market value added.......................................................................21
3. Economic value added and accounting rates of return................................................................23
4. Measuring efficiency.....................................................................................................................24
Asset turnover ratio......................................................................................................................24
Inventory turnover.......................................................................................................................26
Receivables turnover....................................................................................................................26
5. The Du Pont system......................................................................................................................26
1
, 6. Measuring financial leverage........................................................................................................28
7. Measuring liquidity.......................................................................................................................28
8. Interpreting financial ratios..........................................................................................................29
9. The role of financial ratios............................................................................................................29
CHAPTER 5: The time value of money.........................................................29
1. Future Values and Compound Interest.........................................................................................29
Manhattan Island Sale..................................................................................................................30
2. Present Values..............................................................................................................................31
Time value of money (Applications).............................................................................................32
3. Multiple Cash Flows......................................................................................................................32
Future value of multiple cash flows..............................................................................................32
Present value of multiple cash flows............................................................................................32
4. Reducing the Chore of the Calculations: Part 1............................................................................33
Spreadsheets................................................................................................................................33
Financial calculators.....................................................................................................................34
5. Level Cash Flows: Perpetuities and Annuities...............................................................................34
Annuities Due...............................................................................................................................36
6. Reducing the Chore of the Calculations: Part 2............................................................................37
Calculations: Part 2 – Financial Calculators...................................................................................37
Calculations: part 2 – Spreadsheets..............................................................................................37
7. Effective Annual Interest Rates.....................................................................................................37
EAR and Financial Calculators.......................................................................................................38
APR and Financial Calculators.......................................................................................................38
8. Inflation & The Time Value of Money...........................................................................................38
CHAPTER 6: Valuing Bonds........................................................................39
1. The bond market..........................................................................................................................39
2. Interest rates and bond prices......................................................................................................40
3. Yield to maturity...........................................................................................................................43
Bond Yields...................................................................................................................................43
4. Bond rates of returns....................................................................................................................44
5. The yield curve..............................................................................................................................45
Nominal and real rates of interest................................................................................................46
6. Corporate bonds and the risk of default.......................................................................................47
Default risk...................................................................................................................................47
Corporate bonds...........................................................................................................................47
CHAPTER 7: Valuing Stocks.......................................................................48
2
, 1. Stocks and the Stock Market........................................................................................................48
2. Market Values, Book Values, and Liquidation Values...................................................................48
3. Valuing Common Stocks...............................................................................................................49
4. Simplifying the Dividend Discount Model.....................................................................................51
5. Valuing a Business by Discounted Cash Flow................................................................................54
Valuing non-constant growth.......................................................................................................54
6. There Are No Free Lunches on Wall Street...................................................................................54
Random walk theory.....................................................................................................................55
Another tool.................................................................................................................................55
Efficient market theory.................................................................................................................55
7. Market Anomalies and Behavioral Finance...................................................................................56
Market Anomalies........................................................................................................................56
Behavioral finance........................................................................................................................56
CHAPTER 8: Net present value and other investment criteria..........................56
1. Net Present Value.........................................................................................................................56
Valuing an office building.............................................................................................................58
Risk and present value..................................................................................................................58
2. The Internal Rate of Return Rule..................................................................................................59
3. The Profitability Index...................................................................................................................62
Capital rationing...........................................................................................................................62
4. The Payback Rule..........................................................................................................................62
Project interactions......................................................................................................................62
The investment timing decision....................................................................................................63
Equivalent annual annuity............................................................................................................63
Capital budgeting techniques.......................................................................................................64
CHAPTER 9: Using discounted cash-flow analysis to make investment decisions 64
1. Identifying Cash Flows..................................................................................................................64
Cash flow vs accounting income...................................................................................................64
Incremental cash flows.................................................................................................................64
Inflation........................................................................................................................................65
Separate investment and financing decisions...............................................................................66
Calculating cash flows...................................................................................................................66
2. Corporate Income Taxes...............................................................................................................66
3. An Example: Blooper Industries....................................................................................................67
CHAPTER 10: Project analysis....................................................................68
1. How Firms Organize the Investment Process to Draw on Their Competitive Strengths...............68
3
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
√ Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, Bancontact of creditcard voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper emmaroofthooft. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €6,49. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 79271 samenvattingen verkocht
Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen