02现代理财学的基础理论-精.ppt

基础理论的作用 基础理论可以指导财务管理者对现实的理财实践进行深入的分析，找出症结，制定科学、正确的财务管理政策。 科学的基础理论或模型往往是易于理解的和应用的，它们是科学理财的有效工具。 需要关注的两本书 Zvi Bodie Robert C.Merton,Finance.Pearson Education,2002.高等教育出版社影印出版，2002。 Scott Besley Eugene F.Brigham,Principles of Finance.Thomson Learning,Inc.,2003.北京大学出版社影印出版，2003。 关注点：公司理财学为现代金融学的重要组成部分。 Finance Part 1,Finance and The Financial System Part 2,Time and Resource Allocation Part 3,Valuation Models Part 4,Risk Management and Portfolio Theory Part 5,Asset Pricing Part 6,Corporate Finance(capital structure,finance and corporate strategy) Finance Finance is the study of how people allocate scarce resources over time.Two features that distinguish financial decisions from other resource allocation decisions are that the costs and benefits of financial decisions are(1)spread out over time and (2)usually not known with certainty in advance by either the decision makers or anybody else. Finance Finance theory consists of a set of concepts that help you to organize your thinking about how to allocate resources over time and a set of quantitative models to help you evaluate alternatives,make decisions,and implement them.The same basic concepts and quantitative models apply at all levels of decision making,from your decision to lease a car or to start a business,to the decision of the CFO of a major corporation to enter the telecommunications business,to the decision of the World Bank about which development projects to finance. Principles of Finance Part 1,General Finance Concepts Part 2,General Business Concepts Part 3,Fundamentals of Valuation Part 4,Corporate Decision Making(the cost of capital,capital budgeting,capital structure and dividend policy decisions,working capital management) Part 5,Investor Decision Making Principles of Finance Managerial finance,which is the broadest of the three finance areas(financial markets, investments, and corporate finance), deals with decisions that firms make concerning their cash flows. Copeland与Weston教授的观点 《Fi