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内容大纲
为确保资本市场的公开透明和供求关系的平衡,我国资本(金融)市场正在建立健全相关金融制度。本书秉承“新时代国际人文交流”的建设理念,致力培养跨学科跨专业复合型国际化人才,重点选取和阐述了金融学的经典基础理论,同时兼顾了我国资本和金融市场的发展情况和特色。
本书可以用于金融专业本科生、工商管理类本科生的基础阶段必修课程,同时适合非工商管理类研究生尤其是外语类专业学生跨专业选修复合学习之用。本书也可供具有一定外语水平和汉语基础的本科、研究生阶段来华留学生学习之用。 -
作者介绍
顾学华,男,1978年出生,先后毕业于英国诺森比亚大学、法国皮埃尔蒙代斯大学、法国格勒诺布尔大学,先后获得国际金融与会计文学学士学位、财务管理硕士学位、理学硕士学位、管理科学博士学位,现为北京第二外国语学院商学院副教授,长期从事国际教育教学、科学研究以及来华留学生教育教学工作,先后获得上海财经大学优秀教师奖、法国外交部埃菲尔奖学金(Eiffel Scholarship)、法国伊泽尔省罗阿大区管理科学研究奖学金,曾担任2010年上海世博会英语培训咨询专家;讲授的本科、硕士研究生课程有公司金融、国际营销、统计学、管理会计、管理学研究方法、SAS金融编程导论等。 -
目录
Chapter I An Overview of Finance
1.0 Introduction
1.1 Capital Market
1.1.1 What is a Capital Market
1.1.2 The Role of a Capital Market
1.1.3 Primary Market VS Secondary Market
1.2 Participants in a Capital Market
1.2.1 Financial Intermediaries
1.2.2 Financial Institutions
1.2.3 Broker-dealer
1.3 Business Organisations and Physical Assets Market
1.4 Chinese Capital Market: An Introduction
1.4.1 Shanghai Stock Exchange (SSE)
1.4.2 The STAR Market
1.4.3 Shenzhen Stock Exchange (SZSE)
1.4.4 Beijing Stock Exchange (BSE)
1.5 Share Classes and Securities in China
1.6 Capital Market Analyst Approach
Conclusion
Exercises
Chapter 2 Money and Money Market
2.0 Introduction
2.0.1 Checks/Cheques
2.0.2 Legal Tender
2.0.3 Barter
2.1 Historical Development of Money
2.1.1 Origins of Money
2.1.2 Token Money
2.1.3 A Brief History of Money in China
2.2 The Essential Qualities of Money
2.3 The Functions of Money
2.4 Defining Money in a Broader Sense
2.4.1 Money Convertibility
2.4.2 Money Defined in Theory
2.4.3 Money Defined in Macroeconomics
2.4.4 Money Defined by Money Supply
2.5 Money Market
2.5.1 The Bill Market
2.5.2 Inter-bank (Lending) Market
2.5.3 Certificates of Deposit Market
Conclusion
Exercises
Chapter 3 Basic Concepts and Theories in Finance
3.0 Introduction
3.1 Theory of Managerial Self-Interest
3.2 The Concept of Agency
3.3 The Concept of "Time Value of Money
3.3.1 Single Interest Rate
3.3.2 Compound Interest Rate
3.4 The Concept of Maximising Shareholders' Wealth
3.5 Risk Diversification and Risk Aversion
3.5.1 Systemic Risk or Market Risk
3.5.2 Risk-Aversion Theory
3.6 Information Asymmetry and Financial Signalling
3.6.1 Information Asymmetry
3.6.2 The Financial Signalling Theory
3.7 The Capital Market Efficiency Theory
Conclusion
Exercises
Chapter 4 Business Source of Finance
4.0 Introduction
4.1 Business Structure
4.1.1 Sole Proprietorship
4.1.2 Partnership
4.1.3 Unincorporated VS Incorporated Business
4.2 Equity Finance
4.2.1 Ordinary Shares
4.2.2 Preference Shares
4.3 Debt Finance
4.3.1 Types of Corporate Debt
4.3.2 Interest Coupon Rate
4.4 Convertible Securities and Warrants
4.5 International Sources of Finance
4.6 Alternative Sources of Finance
Conclusion
Exercises
Chapter 5 Time Value of Money
5.0 Introduction
5.1 Future Value
5.1.1 Future Value Table
5.1.2 The Use of Future Value
5.2 Present Value
5.3 Annuities
5.4 Perpetuity
5.5 Real Rates of Interest and Nominal Rates of Interest
Conclusion
Exercises
Chapter 6 Fixed-Interest Securities and Valuations
6.0 Introduction
6.1 What is Value
6.1.1 Book Value
6.1.2 Market Value
6.1.3 Forced-Sale Value
6.2 Government Bond Valuation
6.2.1 Risks Associated with Government Bonds
6.2.2 Calculating Market Value after an Unexpected Change in Interest Rates
6.3 Bond Yields
6.3.1 Interest (Current) Yield
6.3.2 Yield to Maturity (YTM)
6.3.3 The Valuation of Undated Government Bonds
6.4 Corporate Bond
6.4.1 Risks Associated with Debentures and Loan Stock
6.4.2 Further Explanation of Default Risk Premium
6.4.3 China Government Bond Index
6.5 The Yield Curves
6.5.1 An Introduction to Yield Curves
6.5.2 Positive Yield Curve
6.5.3 Inverted Yield Curve
6.5.4 Flat Yield Curve
Conclusion
Exercises
Chapter 7 Ordinary Share Valuation
7.0 Introduction
7.1 Information and Equity Value
7.2 Valuing Ordinary Shares
7.2.1 Absolute Valuation
7.2.2 Relative Valuation
7.2.3 Factors Affecting the Value of Ordinary Shares
7.3 Equity Valuation Models
7.3.1 Asset-based Valuation
7.3.2 Income-based Valuation Model
7.3.3 Discounted Cash Flow-based Valuation (DCFV)
Conclusion
Exercises
Chapter 8 Stock Market Investment Indicators
8.0 Introduction
8.1 Measuring Risks and Returns
8.1.1 Expected Return
8.1.2 Variance and Standard Deviation
8.1.3 Introduction to Some Technical Indicators
8.2 Financial Ratio Analysis
8.2.1 Price/Earnings (P/E) Ratio
8.2.2 Earnings Yield
8.2.3 Earnings Yield VS P/E Ratio
8.2.4 Dividend Yield
8.2.5 Dividend Coverage Ratio (DCR)
8.2.6 Solvency Ratio (Gearing)
8.2.7 Profitability Ratios
8.2.8 Working Capital Management Ratios
8.2.9 Liquidity Ratio
8.3 Comprehensive Examples
8.3.1 Stock Market Performance Analysis
8.3.2 Financial Ratios Analysis and a Comparison of Two Companies in the Same Industry
8.3.3 FRA in Action
Conclusion
Exercises
Chapter 9 Strategic Financial Management
9.0 Introduction
9.1 Business Finance
9.2 Finance in Non-profit Organisations (NPOs)
9.3 The Concept of Value, Revisited
9.4 Strategic Financial Management
9.5 Investment Decisions
9.6 Financing Decisions
Exercises
Appendix I Keys to Exercises
Appendix II Present Value and Future Value Table of I yuan
Appendix III Glossary of Finance
Appendix IV World Currency Code and Symbol
参考资料
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