财务管理第十六章课件.pptxVIP

Chapter 16 Financial Leverage and Capital Structure Policy;Key Concepts and Skills;Chapter Outline;Capital Restructuring;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;Example: Case I;The CAPM, the SML and Proposition II;Business Risk and Financial Risk;Case II – Cash Flow;Example: Case II;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 16.8;Managerial Recommendations;Figure 16.9;The Value of the Firm;The Pecking-Order Theory;Observed Capital Structure;Work the Web Example;Bankruptcy Process – Part I;Bankruptcy Process – Part II;Quick Quiz;Ethics Issues;Comprehensive Problem;End of Chapter;9、春去春又回，新桃换旧符。在那桃花盛开的地方，在这醉人芬芳的季节，愿你生活像春天一样阳光，心情像桃花一样美丽，日子像桃子一样甜蜜。12月-2012月-20Thursday, December 17, 2020 10、人的志向通常和他们的能力成正比例。02:17:1602:17:1602:1712/17/2020 2:17:16 AM 11、夫学须志也，才须学也，非学无以广才，非志无以成学。12月-2002:17:1602:17Dec-2017-Dec-20 12、越是无能的人，越喜欢挑剔别人的错儿。02:17:1602:17:1602:17Thursday, December 17, 2020 13、志不立，天下无可成之事。12月-2012月-2002:17:1602:17:16December 17, 2020 14、Thank you very much for taking me with you on that splendid outing to London. It was the first time that I had seen the Tower or any of the other famous sights. If Id gone alone, I couldnt have seen nearly as much, because I wouldnt have known my way about. 。17 十二月 20202:17:16 上午02:17:1612月-20 15、会当凌绝顶，一览众山小。十二月 202:17 上午12月-2002:17December 17, 2020 16、如果一个人不知道他要驶向哪头，那么任何风都不是顺风。2020/12/17 2:17:1602:17:1617 December 2020 17、一个人如果不到最高峰，他就没有片刻的安宁，他也就不会感到生命的恬静和光荣。2:17:16 上午2:17 上午02:17:1612月-20