Corporate FinanceA Focused Approach 企业融资 一种集中的方法.pdf

FREQUENTLY USED SYMBOLS ACP Average collection period ADR American Depository Receipt APR Annual percentage rate AR Accounts receivable b Beta coefficient, a measure of an asset’s market risk bL Levered beta bU Unlevered beta BEP Basic earning power BVPS Book value per share CAPM Capital Asset Pricing Model CCC Cash conversion cycle CF Cash flow; CFt is the cash flow in Period t CFPS Cash flow per share CR Conversion ratio CV Coefficient of variation Δ Difference, or change (uppercase delta) Dps Dividend of preferred stock Dt Dividend in Period t DCF Discounted cash flow D/E Debt-to-equity ratio DPS Dividends per share DRIP Dividend reinvestment plan DRP Default risk premium DSO Days sales outstanding EAR Effective annual rate, EFF% EBIT Earnings before interest and taxes; net operating income EBITDA Earnings before interest, taxes, depreciation, and amortization EPS Earnings per share EVA Economic Value Added F (1) Fixed operating costs (2) Flotation cost FCF Free cash flow FVN Future value for Year N FVAN Future value of an annuity for N years g Growth rate in earnings, dividends, and stock prices I Interest rate; also denoted by r I/YR Interest rate key on some calculators INT Interest payment in dollars IP Inflation premium IPO Initial public offering IRR Internal rate of return LP Liquidity premium M (1) Maturity value of a bond (2) Margin (profit margin) M/B Market-to-book ratio MIRR Modified Internal Rate of Return MRP Maturity risk premium MVA Market Value A