公司理财05-债券和股票的定价.pptVIP

第5章 债券和股票的定价 5.1 债券的定义 5.2 如何对债券定价 5.3 债券的概念 5.4 普通股现值 5.5 股利折现模型中的参数估计 5.6 增长机会 5.7 股利增长模型 5.8 市盈率 5.9 股市行情 5.1 债券的定义和例子Definition and Example of a Bond 债券是在借款人和出借人依法签定的协议。A bond is a legally binding agreement between a borrower and a lender: Specifies the principal amount of the loan. Specifies the size and timing of the cash flows 例如：Consider a U.S. government bond listed as 6 3/8 of December 2009. 面值1000元 The Par Value of the bond is $1,000. 利息半年支付 Coupon payments are made semi-annually (June 30 and December 31 for this particular bond). Since the coupon rate is 6 3/8 the payme