corporatefinanceintroductionofcorporatefinance幻灯片.pptVIP

Introduction of Finance and Corporate Finance MA RUFEI Macau University of Science and Technology 2013.9.3 馬如飛 博士（MA RUFEI PH.D） Office: A412 Office Tel: 8897 2876 E-mail: rfma@must.edu.mo Teaching area: Corporate finance, International financial management. Research area: Monetary policy and corporate finance; Supply chain finance Topics Covered What is Finance What is corporate finance The main issues of corporate finance The basic knowledge corporate finance Top three journals in financial field Financial database What is Finance What is Finance What is Finance Wealth, Money, Investment, Firms, Financing, Dividend, Bank, Interest, Risk, Time Value, Credit, Stock market, Bond market……….. What is corporate finance The main issues of corporate finance 1) Transfer pricing (this is very relevant if the company has multinational entities) 2) Managing risks 3) Dividends policy 4) Quantifying uncertainty 5) Management of working capital 6) Marketing/public image/relations 7) Project valuation The main theory Net Present Valuation and Separation Theorem (Hirshleifer, 1985) Equity Valuation Model (Gordon and Shapiro, 1956) Irrelevance of Debt-Equity Ratio (Modigliani and Miller, 1958) The main theory Agency Theory Models (Jensen and Meckling, 1976) Capital Asset Pricing Model (Sharpe, 1964; Lintner, 1965) Efficient Markets Hypothesis (Fama, 1970) The main theory Portfolio Allocation Theory (Markowitz, 1952) Option Pricing Model (Black and Scholes, 1973) The basic knowledge corporate finance Basic Knowledge of Financial Accounting Knowledge of Advanced Math Knowledge of Statistics Econometrics Top three journals in financial field Journal of finance Journal of financial economics Reviews of financial studies Financial database Datastream (Access up to 50 years of history, millions of global instruments and indicators and coverage for 175 countries in 60 global markets.) GTA（China Stock Market and Accounting Research Database. Inc