公司理财教材新第十八节杠杆企业的估价跟资本预算.pptVIP

课堂提问 解释杠杆是如何影响潜在项目所创造的价值。 区别何时使用调整净现值法（ APV ），何时采用权益现金流法（ FTE ），何时采用加权平均资本成本法（ WACC ）? 课后作业 P280～282的第6、7、11、12、13题以及小案例。 * Therefore, the discount rate of a project should be the expected return on a financial asset of comparable risk. * You may want to note that this example assumes expansion into projects that are similar to the existing nature of the business. * This, again, assumes independent projects. This is a good point at which to review the relation between IRR and NPV. * 3 * 16 This relation is consistent with the separation principle discussed in a prior chapter. * 17 * * Note,