公司理财教学资料 chap016知识课件.pptVIP

Chapter 16 Financial Leverage and Capital Structure Policy;Choosing a Capital Structure;The Effect of Leverage;Example: Financial Leverage, EPS and ROE – Part I;Example: Financial Leverage, EPS and ROE – Part II;Break-Even EBIT;Example: Break-Even EBIT;Example: Homemade Leverage and ROE;Capital Structure Theory;Capital Structure Theory Under Three Special Cases;Case I – Propositions I and II;Case I - Equations;Figure 16.3;Case I - Example;The CAPM, the SML and Proposition II;Business Risk and Financial Risk;Case II – Cash Flow;Case II - Example;Interest Tax Shield;Case II – Proposition I;Example: Case II – Proposition I;Figure 16.4;Case II – Proposition II;Example: Case II – Proposition II;Figure 16.5;Case III;Bankruptcy Costs;More Bankruptcy Costs;Figure 16.6;Figure 16.7;Conclusions;Figure 17.8;Managerial Recommendations;Figure 16.9;The Value of the Firm;The Pecking-Order Theory;Observed Capital Structure;Bankruptcy Process – Part I;Bankruptcy Process – Part II;Quick Quiz;Comprehensive Problem;Key Concepts and Skills