Long-TermFinancialPlanningandCorporateGrowth：长期财务规划与企业成长.pptVIP

Long-Term Financial Planning and Corporate Growth Chapter Four Basic Elements of Financial Planning Capital budgeting decision: investment in new assets Capital structure decision: degree of financial leverage Dividend policy decision: cash paid to shareholders as dividends Net working capital decision: the firm’s liquidity requirements What is Financial Planning? The financial plan identifies methods for achieving the firm’s financial goals. The appropriate goal for financial managers is maximize the shareholders’ value (i.e., maximize equity). Growth by itself is not an appropriate goal. D