一、上市公司分红的规则与程序 二、上市公司分红的形式与内容 三、上市公司分红水平分析 四、上市公司分红过程中的复杂状态

一、股票发行市场 二、股票的价格 三、股票的收益 四、股票发行的条件 五、股票发行的程序

The Financial Markets are Dynamic Business is“Proactive But Regulators are \Reactive\ not “Proactive The System of Regulation and Enforcement can never be completely Flexible and Dynamic Importance of Fiduciary Responsibility

Arbitrage Pricing Theory Arbitrage-arises if an investor can construct a zero investment portfolio with a sure profit Since no investment is required, an investor can create large positions to secure large levels of profit

Fourth Edition Advantages of the Single Index Model Reduces the number of inputs for diversification. Portfolio of 50 assets 50 expected returns;50 variances 1225 covariance. too difficult a task

INVESTMENTS Two-Security Portfolio: Return rp =W+W2r2 W Proportion of funds in Security 1 W2 Proportion of funds in Security 2 =Expected return on Security 1

复旦大学：《投资学原理 Investments》课程教学资源（案例讲义）案例10_中信证券的wacc和eva估计

现金流贴现法Discounted Cash Flow Method,简称 DCF),又称收入法或收入资本化法。 DCF认为任何资产的内在价值( Intrinsic value) 取决于该资产预期的现金流的现值

Capital allocation The choice of proportion in safe asset and proportion in risky asset; Most institutional investors follows top- down analysis---The first part is asset allocation and the next part is security selection decision

复旦大学：《投资学原理 Investments》课程教学资源（案例讲义）案例7_晨星公司对中国基金业绩评价