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内容大纲
本书按财务管理专业主干课程的架构共设四篇十章,具体包括财务管理概述、财务报表概述、货币时间价值、风险与收益、资本预算、资本成本、资本结构、股利政策、资产评估概述及权益估值和公司估值等内容。本书不仅列出了各章节主要概念,配有中文的拓展阅读,用于丰富和启发学生对于相关知识点的学习,而且配有适当的习题与案例,供教师教学和学生学习使用。
本书内容全面,包含了财务管理、公司理财、资产评估及企业价值评估等专业方向的基本理论介绍,特别适合用作财务管理相关专业学生的教材,也可供相关从业者学习参考。教学课件和习题答案的下载方式见前言。 -
作者介绍
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目录
Part I Basis of Financial Valuation
Chapter 1 Introduction to Financial Management
1.1 Financial Management and Financial Manager
1.1.1 Financial Management
1.1.2 Financial Manager
1.2 Objectives and Functions of Financial Management
1.2.1 Objectives of Financial Management
1.2.2 Functions of Financial Management
1.3 Financial Market and Market Efficiency
1.3.1 Financial Market
1.3.2 Market Efficiency
1.3.3 Degrees of Market Efficiency
1.4 Agency Relationships
1.4.1 Agency Problems
1.4.2 Agency Costs
1.4.3 Practical Solutions to the Agency Problems
Questions and Problems
Chapter 2 Introduction to Financial Statements
2.1 Financial Statements and Annual Reports
2.1.1 OverviewofFinancial Statements
2.1.2 Corporate Annual Reports
2.2 Analysis of Financial Statements
2.2.1 The Need for Ratios
2.2.2 Types of Accounting Ratios
2.2.3 Users of Ratios
2.2.4 Categories of Ratio
Questions and Problems
Chapter 3 Time Value of Money
3.1 Value Creation and Corporate Investment
3.2 Simple and Compound Interest
3.2.1 Simple Interest
3.2.2 Compound Interest
3.3 Future Value and Present Value
3.3.1 Future Value
3.3.2 Present Value
3.3.3 Determining the Rate of Interest
3.3.4 Annuity
Questions and Problems
Part II Capital Budgeting
Chapter 4 Risk and Return
4.1 Understanding Return
4.1.1 Return
4.1.2 Measuring Return
4.2 Understanding Risk
4.2.1 Risk
4.2.2 Measuring Risk
4.3 Portfolio Theory
4.3.1 Basic Assumptions
4.3.2 Portfolio Return and Risk
4.3.3 Minimum-Variance and Efficient Frontiers
4.3.4 The Selection of an Optimal Portfolio
4.3.5 Systematic Risk and Unsystematic Risk
4.4 Capital Asset Pricing Model (CAPM)
Questions and Problems
Chapter 5 Categories of Capital Budgeting Projects
5.1 Capital Budgeting
5.2 Project Appraisal
5.2.1 Categories of Capital Budgeting Projects
5.2.2 Are Profit Calculations Useful for Estimating Project Viability
5.2.3 Guidelines for Estimating Project Cash Flows
5.3 Project Appraisal Rules
5.3.1 Net Present Value (NPV)
5.3.2 Internal Rate of Return (IRR)
5.3.3 Payback Period and Discounted Payback Period
5.3.4 Accounting Rate of Return
5.4 The Investment Process
Questions and Problems
Chapter 6 Cost of Capital
6.1 Introduction to the Cost of Capital
6.1.1 Source of Finance
6.1.2 What is the Cost of Capital
6.1.3 General Model to Estimate the Cost of Capital
6.2 Cost of Debt
6.3 Cost of Equity
6.3.1 Cost of Preferred Stock
6.3.2 Cost of Common Equity
6.4 Weighted Average Cost of Capital
6.4.1 What is the Weighted Average Cost of Capital
6.4.2 Factors Affecting the Weighted Average Cost of Capital
Questions and Problems
Part III Financing Decision
Chapter 7 CapitalStructure
7.1 Leverage Analysis
7.1.1 Operating Leverage
7.1.2 Financial Leverage
7.1.3 Total Leverage
7.1.4 Financial Risk and Financial Leverage
7.2 Capital Structure and Cost of Capital
7.3 Capital Structure Theory
7.4 Factors that Influence a Firm's Capital Structure Decision
7.5 Features of an Optimal Capital Structure
7.6 Value of a Firm and Cost of Capital
Questions and Problems
Chapter 8 Dividend Policy
8.1 Dividend Payments
8.1.1 Dividend
8.1.2 Cash Dividend, Stock Dividend and Stock Split
8.1.3 Dividends Payment
8.2 Overview of Dividend Policy
8.2.1 Factors Affecting Dividend Policy
8.2.2 Residual Policy
8.2.3 Constant Dividend Payout Ratio
8.2.4 Stable Dividend Policy
8.3 Share Repurchase
Questions and Problems
Part IV Valuation
Chapter 9 Introduction to Asset Valuation
9.1 Asset Valuation
9.1.1 Definition of Asset Valuation
9.1.2 Characteristics of Asset Valuation
9.2 Assumptions of Asset Valuation
9.2.1 Open Market Concepts
9.2.2 Continue to Use Concepts
9.2.3 Liquidation Concepts
9.3 Types of Value
9.3.1 Market Value
9.3.2 Replacement Cost
9.3.3 Present Value
9.3.4 Liquidation Value
9.4 Procedures of Asset Valuation
9.5 Approaches of Asset Valuation
9.5.1 Market Approach
9.5.2 Income Approach
9.5.3 Cost Approach
Questions and Problems
Chapter 10 Equity & Corporate Valuation
10.1 Equity Valuation
10.1.1 Dividends Discount Model
10.1.2 Free Cash Flow to Equity Discount Model
10.2 Corporate Valuation
10.2.1 Free Cash Flow to the Firm Discount Model
10.2.2 Price-Earnings Ratio
Questions and Problems
Appendix I Future Value of $1 at Compound Interest
Appendix II Present Value of $1 at Compound Interest
Appendix III Present Value of an Annuity of $1 at Compound Interest
Appendix IV Future Value of an Annuity of $1 at Compound Interest
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