❖ The process of personal portfolio selection ❖ The trade-off between expected return and risk ❖ Efficient diversification with many risky assets

 利润分配的内容  股利支付的程序和方式  股利分配政策  股票股利和股票分割

演示演讲PPT成功案例：财务管理与生活

 投资项目现金流量及其构成  项目投资决策的实务  投资风险决策

Term loans Characteristics of Term Loans Secured loans 1-to 10-year maturity Repaid in periodic installments

• 7.1银行借款 • 7.2债券筹资 • 7.3融资租赁 • 7.4短期负债筹资

一、传统方法 二、总价值原则 三、市场缺陷的存在和激励问题 四、税收的影响 五、税和市场缺陷相结合 六、融资信号

6.1吸收直接投资 6.2普通股筹资 6.3优先股筹资 6.4留存收益筹资

Corporate restructuring 1960s- Mergers of unrelated firms formed huge conglomerates 1980s-Investors purchased conglomerates and sold off the pieces as independent companies. 1990s- Strategic mergers of related firms to create synergies

资本成本 是各种类型融资的预期报 酬率。综合资本成本是各单独的预 期报酬率（成本)的加权平均