Chapter_01WhyFinanceMatters(公司金融,英文版)..ppt

Slides by Matthew Will Topics Covered What Is A Corporation? The Role of The Financial Manager Who Is The Financial Manager? Separation of Ownership and Management Financial Markets Corporate Structure Role of The Financial Manager Who is The Financial Manager? Ownership vs. Management Difference in Information Stock prices and returns Issues of shares and other securities Dividends Financing Different Objectives Managers vs. stockholders Top mgmt vs. operating mgmt Stockholders vs. banks and lenders 1- * McGraw Hill/Irwin Copyright ? 2003 by The McGraw-Hill Companies, Inc. All rights reserved Irwin/McGraw Hill Copyright ? 2003 by The McGraw-Hill Companies, Inc. All rights reserved Why Finance Matters Principles of Corporate Finance Seventh Edition Richard A. Brealey Stewart C. Myers Chapter 1 McGraw Hill/Irwin Copyright ? 2003 by The McGraw-Hill Companies, Inc. All rights reserved Sole Proprietorships Corporations Partnerships Limited Liability Corporate tax on profits + Personal tax on dividends Unlimited Liability Personal tax on profits Financial manager Firms operations Financial markets (1) Cash raised from investors (1) (2) Cash invested in firm (2) (3) Cash generated by operations (3) (4a) Cash reinvested (4a) (4b) Cash returned to investors (4b) Chief Financial Officer Comptroller Treasurer