财务管理基础（第6版）理查德·A·布雷利-chap001.pptVIP

19 4 3 3 3 3 3 17 18 4 3 3 3 3 3 18 1- * 1- * McGraw Hill/Irwin Copyright ? 2009 by The McGraw-Hill Companies, Inc. All rights reserved Fundamentals of Corporate Finance Sixth Edition Richard A. Brealey Stewart C. Myers Alan J. Marcus Slides by Matthew Will Chapter 1 McGraw Hill/Irwin Copyright ? 2009 by The McGraw-Hill Companies, Inc. All rights reserved Goals and Governance of the Firm Topics Covered Investment and Financing Decisions What is a Corporation? Who Is The Financial Manager? Goals of the Corporation Careers in Finance The Role of The Financial Manager Capital Budgeting Decision Decision to invest in tangible or intangible assets. …also called the Investment Decision The Role of The Financial Manager “Capital Budgeting” Tangible Assets Toyota Plants @ $3 billion new debt Intangible Assets Gillette’s Fusion Razor @ $200 million The Role of The Financial Manager Financing Decision The form and amount of financing of a firm’s investments. Capital Structure The mix of long term debt and equity financing. Financial Manager Firms operations Investors (1) Cash raised from investors (1) (2) Cash invested in firm (2) (3) Cash generated by operations (3) (4a) Cash reinvested (4a) (4b) Cash returned to investors (4b) The Role of The Financial Manager Real assets Investment assets The Role of The Financial Manager Real Assets Assets used to produce goods and services. Financial Assets Financial claims to the income generated by the firm’s real assets. What is a Corporation? Corporation A business organized as a separate legal entity owned by stockholders. Types of Corporations Public Companies Private Corporations Limited Liability Corporations (LLC) Organizing a Business Types of Business Organizations Sole Proprietorships Partnerships Corporations Limited Liability Options Limited Liability Partnerships Limited Liability Corporations Professional Corporations Organizing a Business Corporate Structure Sole Proprietorships Corporations Partnerships Lim