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was and still is the top selling financial textbook in French speaking countries and is the forebear of Corporate Finance Theory and Practice The authors of this
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Financially, a business decision reduces to valuation of assets • Valuation is the central issue of finance Fall 2006 c J Wang 15401 Lecture Notes
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corporate finance can be summarized in Figure 1, which also lays out a site map for the book Every section of this book relates to some part of this picture, and each chapter is introduced with it, with emphasis on that portion that will be analyzed in that chapter (Note the chapter numbers below each section) Put another way, there are no sections of this book that are not traceable to
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Chapter 1 Introduction to Finance 1-17 Conclusions: 1 Managers should maximize firm’s current market value 2 Shareholder differences can be settled in financial markets by trading on their own account 3 Perfect financial markets allow separation of ownership and management Practical Issues: • Agency problems - Management may put their own interest first • Other stakeholders Taille du fichier : 60KB
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Basics of Finance Authors Gábor Kürthy (Chapter 1, Chapter 2) József Varga (Chapter 3) Tamás Pesuth (Chapter 4) Ágnes Vidovics-Dancs (Chapter 5 1 - 5 3) Ildikó Gelányi (Chapter 5 4) Géza Sebestyén (Chapter 5 5) Eszter Boros (Chapter 6) Gábor Sztanó (Chapter 7) Erzsébet Varga (Chapter 8) Editor Gábor Kürthy Reviewers Ágnes Vidovics-Dancs (Chapter 1) György Surányi (Chapter 2
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when you do look for finance, that will be seen as a huge vote for confidence in your business Can you barter your services? What other ideas can you have? Stages of Finance Equity is invested in stages or rounds A successful business will pass through all of these Seed capital for the feasibility and design comes from personal savings, and contacts Start-up – commencing trading - will
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2 How can the firm raise cash for required capital expenditures? 3 How should short term operating cash flows be managed? 3 Financial Statement Analysis
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11 What is corporate finance? 12 The goal of financial management 13 The agency problem and control of the corporation 14 Ethics and corporate governance
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The basics of corporate financial management decisions and the role of the financial manager; The goal of corporate financial management Dual accounting and finance function, preparation of financial statements Page 10 In Textbook
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