05 2017年CFA一级_思维导图_corporate finance

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Implementation methods
程 Best-in-class approach
Thematic investing strategies Impact investing
߁ї‫ۅ‬ாऩ
‫ۅڙ۽‬ாऩ
Capital projectঝֺ ‫ڠ‬Ӳ‫ۅ‬ாऩ
ҿѕ
ࣞॹாऩչл‫ދ‬ாऩ
Capital budgetingङ5ாԽө
Sales risk
Business risk
Operating risk
Leverageङׂߎࠢ‫ھ‬
育Financial risk
Degree of operating leverage (DOL)
ؔУՃؔУ‫ڔ‬ ઋ঑‫ڔ‬
教Leverage
Degree of financial leverage (DFL)
‫ڔڥ‬
One tier Two tier
R34 Corporate Governance and ESG: An Introduction
Board
Байду номын сангаас
Board committee
Audit committee Remuneration committee Nomination committee Governance committee Risk committee Investment committee
ઋ঑
‫ૅۅ‬
NPV
ԥЗாऩ
Ӯ‫ލ‬ ‫ך‬Зாऩ

ࣞॹாऩ л‫ދ‬ாऩ
ઋ঑
‫ૅۅ‬
R35 Capital Budgeting
IRR Ӯ‫ލ‬
ԥЗாऩ ‫ך‬Зாऩ
ࣞॹாऩ л‫ދ‬ாऩ
ாऩછѳ‫ࡣސ‬
ઋ঑
‫ૅۅ‬
PBP & DPBP
ԥЗாऩ
育 教 Corporate Finance 程 金
R36 Cost of Capital
ؔУՃؔУ‫ڔ‬ ઋ঑‫ڔ‬
Degree of total leverage (DTL)
ؔУՃؔУ‫ڔ‬ ઋ঑‫ڔ‬
程Breakeven point
Breakeven point of sales
ࠢ‫ھ‬ ઋ঑
ࠢ‫ھ‬
Operating breakeven point of sales

ઋ঑
Dividend ঝֺ
Ӯ‫ލ‬
‫ך‬Зாऩ
ࣞॹாऩ л‫ދ‬ாऩ
NPV profile
ઋ঑
‫ૅۅ‬
PI
ԥЗாऩ
Ӯ‫ލ‬ ‫ך‬Зாऩ
ࣞॹாऩ л‫ދ‬ாऩ
ДЗNPV profileсࢵխУ NPV profileЊࠦ঺ֱ߶сࢵխУ
育 教
WACC
ઋ঑ ૏ߎৈߣଣ‫ܫ‬ङѩүி‫پ‬
Cost of debt
YTM‫ࡣސ‬ Ғऀછ঴‫ࡣސ‬
Stakeholder theory
‫ࡁث‬shareholder theory ԚӣЉգstakeholders
Principal agent conflict
Between controlling and minority shareholders
Conflict of interest Between shareholders and creditors
ؔУ
Environmental Social Governance
Sustainable investing

ESG integration Social responsible investing
Impact investing
ESG
Negative screening
Positive screening
Liquidity measures
Operating cycle Cash conversion cycle
ઋ঑
Cost of trade credit
Cash dividend Stock dividend and stock split
Reverse stock split
R38 Dividends and Shares Repurchases: Basics
Dividend payment chronology
Share repurchaseङәय़Љգ‫ࡣސ‬
ઋ঑
Cost of preferred stock
ઋ঑
程 金
CAPM pure play method
country risk premium
Cost of equity DDM ‫ ࡣސ‬ઋ঑
Bond yield plus risk premium ઋ঑
‫ڧ‬րWACCҟૉ࣫ࣤङ֜প
R37 Measure of Leverage
Buy in open market Buy a fixed number of shares at a fixed price Dutch Auction
Share repurchase
Repurchase by direct negotiation
Share repurchase‫ث‬EPSљՃBVPSङ‫ڧ‬ր
Share repurchaseЊcash dividend‫ࡁث‬
R39 Working Capital Management
Primary source of liquidity
Source of liquidity Secondary source of liquidity Drags on liquidity and pulls on liquidity
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