2.Suggested setting up four new branches in four different countries.Each branch would have its own production facilities and sales teams as a consequence of this one of ean-based production facilities will be closed.Initial cost-benefit analysis t this s would reduce costs related to production,distribution and logistics,as these branches would be closer to the sources of raw materials and also to the customers. The operations and sales directors supported the proposal,as in addition to above,this would enable sales and marketing teams in the branches to respond to any changes in nearby markets more quickly.The branches would be controlled and staffed by the local pop lation in thos untries.However,some me of the BoD expressed con that such a move would create agency issues between CMC Co's central management and the management controlling the branches.They suggested mitigation strategies would need to be established to minimise these issues. Required: Prepare a memorandum for the Board of Directors (BoD)of CMC Co which: Discusses the a agency issues related to proposal two and how these can be mitigated. (四)教学方法与手段 Teaching methods in this chapter mainly use classroom teaching,group discussion. class discussion,etc. This chapter teaching methods mainly use network-assisted teaching.multimedia teaching. (五)课程思政内容和方式：通过国内上市公司以及跨国组织经营热点案例融入 方式：从讲授现金流量折现法、期权定价理论在投资决策中的应用、估值和自由现金 流的使用、融资对投资决策和调整后的现值的影响过程中融入对于“不确定性”的理 解，引导学生在国内外经济、政治、文化、制度等环境不确定中如何更好地应对，引 导学生理解金融服务实体经济发展的内涵，树立财务人员的服务意识，构建企业组织 的核心价值观：在讲授国际投融资决策时对比不同国家制度差异，帮助学生树立正确 的世界观及民族文化自信。 第三章Acquisitions and mergers (一)目的和要求 1.Acquisitions and mergers versus other growth strategies 2.Valuation for acquisitions and mergers 3.Regulatory framework and processes 4.Financing acquisitions and mergers (二)教学内容 1.主要内容 1313 2. Suggested setting up four new branches in four different countries. Each branch would have its own production facilities and sales teams. As a consequence of this, one of the two European-based production facilities will be closed. Initial cost-benefit analysis indicated that this would reduce costs related to production, distribution and logistics, as these branches would be closer to the sources of raw materials and also to the customers. The operations and sales directors supported the proposal, as in addition to above, this would enable sales and marketing teams in the branches to respond to any changes in nearby markets more quickly. The branches would be controlled and staffed by the local population in those countries. However, some members of the BoD expressed concern that such a move would create agency issues between CMC Co’s central management and the management controlling the branches. They suggested mitigation strategies would need to be established to minimise these issues. Required: Prepare a memorandum for the Board of Directors (BoD) of CMC Co which: Discusses the agency issues related to proposal two and how these can be mitigated. （四）教学方法与手段 Teaching methods in this chapter mainly use classroom teaching, group discussion, class discussion, etc. This chapter teaching methods mainly use network-assisted teaching, multimedia teaching. （五）课程思政内容和方式：通过国内上市公司以及跨国组织经营热点案例融入 方式；从讲授现金流量折现法、期权定价理论在投资决策中的应用、估值和自由现金 流的使用、融资对投资决策和调整后的现值的影响过程中融入对于“不确定性”的理 解，引导学生在国内外经济、政治、文化、制度等环境不确定中如何更好地应对，引 导学生理解金融服务实体经济发展的内涵，树立财务人员的服务意识，构建企业组织 的核心价值观；在讲授国际投融资决策时对比不同国家制度差异，帮助学生树立正确 的世界观及民族文化自信。 第三章 Acquisitions and mergers （一）目的和要求 1. Acquisitions and mergers versus other growth strategies 2. Valuation for acquisitions and mergers 3. Regulatory framework and processes 4. Financing acquisitions and mergers （二）教学内容 第一节 1. 主要内容