Principles of Market Valuation参考.pptVIP

Chapter 7:  Principles of Market Valuation Introduction Recall that the three pillars of finance are time value of money asset valuation risk management Many financial decisions are, in essence, the determination of an asset’s value Introduction (Continued) The key to asset valuation is comparison of the asset to be valued with a set of assets with similar characteristics and known values By the law of one price, the price of all equivalent assets must be the same Chapter 7 Contents 7.1 The relationship between an asset’s value its price 7.2 Value maximization financial decisions 7.3