公司理财教学资料 chap007知识课件.pptVIP

Chapter 7 Interest Rates and Bond Valuation;Bonds and Bond Valuation;Bond Definitions; The Bond-Pricing Equation;Bond = Present Value of Cash Flows;Valuing a Discount Bond with Annual Coupons;Valuing a Premium Bond with Annual Coupons;;Bond Prices: Relationship Between Coupon and Yield;The Bond Pricing Equation;Example 7.1 p.196;Interest Rate Risk;Figure 7.2 p.197;Computing Yield to Maturity;YTM with Annual Coupons;YTM with Semiannual Coupons;Table 7.1;Current Yield vs. Yield to Maturity;Bond Pricing Theorems;Bond Prices with a Spreadsheet;Differences - Debt and Equity;The Bond Indenture;Sample Bond Features;Bond Classifications;Bond Characteristics and Required Returns;Bond Ratings – Investment Quality;Bond Ratings - Speculative;Default Rates vs. Rating;Government Bonds;Example 7.4 p.210;Zero Coupon Bonds;Floating-Rate Bonds;Other Bond Types;Bond Markets;Treasury Quotations;Clean vs. Dirty Prices;Inflation and Interest Rates;The Fisher Effect;Example 7.5 p.220;Term Structure of Interest Rates;Figure 7.6 – Upward-Sloping Yield Curve p.224;Figure 7.6 – Downward-Sloping Yield Curve;Figure 7.7;Factors Affecting Bond Yields;Quick Quiz;Comprehensive Problem;Key Concepts and Skills;Homework Ch. 7