现代理财学的基础理论

  1. 1、下载文档前请自行甄别文档内容的完整性,平台不提供额外的编辑、内容补充、找答案等附加服务。
  2. 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
  3. 3、如文档侵犯您的权益,请联系客服反馈,我们会尽快为您处理(人工客服工作时间:9:00-18:30)。
《The Modern Theory of Corporate Finance》,1990. 理财学的基础理论有: 有效市场理论 组合理论 期权定价理论 资本资产定价模型(CAPM) 代理理论
E.F.Brigham教授的观点
《Intermediate Financial Management》,1996. 理财学的基础理论有:
Managerial finance,which is the broadest of the three finance areas(financial markets, investments, and corporate finance), deals with decisions that firms make concerning their cash flows.
Theory Part 5,Asset Pricing Part 6,Corporate Finance(capital
structure,finance and corporate strategy)
Finance
Finance is the study of how people allocate scarce resources over time.Two features that distinguish financial decisions from other resource allocation decisions are that the costs and benefits of financial decisions are(1)spread out over time and (2)usually not known with certainty in advance by either the decision makers or anybody else.
Copeland与Weston教授的观点
《Financial Theory and Corporate Policy》,1988. 理财学的基础理论有:
☆效用理论 ☆状态偏好理论 ☆均值方差理论 ☆资本资产定价模型 ☆套利定价理论 ☆期权定价理论 ☆MM理论
Clifford.W.Smith,Jr教授的观点
Finance
Finance theory consists of a set of concepts that help you to organize your thinking about how to allocate resources over time and a set of quantitative models to help you evaluate alternatives,make decisions,and implement them.The same basic concepts and quantitative models apply at all levels of decision making,from your decision to lease a car or to start a business,to the decision of the CFO of a major corporation to enter the telecommunications business,to the decision of the World Bank about which development projects to finance.
Scott Besley & Eugene F.Brigham,Principles of Finance.Thomson Learning,Inc.,2003.北京大学 出版社影印出版,2003。
关注点:公司理财学为现代金融学的重要组成 部分。
Finance
Part 1,Finance and The Financial System Part 2,Time and Resource Allocation Part 3,Valuation Models Part 4,Risk Management and Portfolio
完全资本市场 贴现现金流量模型(DCFM) MM资本结构理论 MM股利理论 组合理论和资本资产定价模型( CAPM) 期权定价理论 有效市场理论 风险与收益的权衡理论 代理理论 不对称信息理论
《Corporate Finance Theory》
William L.Megginson,associate professor of banking and finance,Terry College of Business at the University of Georgia
Principles of Finance
Part 1,General Finance Concepts Part 2,General Business Concepts Part 3,Fundamentals of Valuation Part 4,Corporate Decision Making(the cost
of capital,capital budgeting,capital structure and dividend policy decisions,working capital management) Part 5,Investor Decision Making
Principles of Finance
基础理论的作用
基础理论可以指导财务管理者对现实的 理财实践进行Fra Baidu bibliotek入的分析,找出症结, 制定科学、正确的财务管理政策。
科学的基础理论或模型往往是易于理解 的和应用的,它们是科学理财的有效工 具。
需要关注的两本书
Zvi Bodie & Robert C.Merton,Finance.Pearson Education,2002.高等教育出版社影印出版, 2002。
相关文档
最新文档