公司理财英文版课件Chap016.pptx

Chapter 16 Financial Leverage and Capital Structure Policy;Key Concepts and Skills;Chapter Outline;Capital Restructuring;Choosing a Capital Structure;The Effect of Leverage;Example: Financial Leverage, EPS and ROE – Part I;Example: Financial Leverage, EPS and ROE – Part II;Break-Even EBIT;Example: Break-Even EBIT;Example: Homemade Leverage and ROE;Capital Structure Theory;Capital Structure Theory Under Three Special Cases;Case I – Propositions I and II;Case I - Equations;Figure 16.3;Case I - Example;The CAPM, the SML and Proposition II;Business Risk and Financial Risk;Case II – Cash Flow;Case II - Example;Interest Tax Shield;Case II – Proposition I;Example: Case II – Proposition I;Figure 16.4;Case II – Proposition II;Example: Case II – Proposition II;Figure 16.5;Case III;Bankruptcy Costs;More Bankruptcy Costs;Figure 16.6;Figure 16.7;Conclusions;Figure 17.8;Managerial Recommendations;Figure 16.9;The Value of the Firm;The Pecking-Order Theory;Observed Capital Structure;Work the Web Example;Bankruptcy Process – Part I;Bankruptcy Process – Part II;Quick Quiz;Ethics Issues;Comprehensive Problem;End of Chapter;1、每一个成功者都有一个开始。勇于开始，才能找到成功的路。七月-20七月-20Wednesday, July 22, 2020 2、成功源于不懈的努力，人生最大的敌人是自己怯懦。07:31:4507:31:4507:317/22/2020 7:31:45 AM 3、每天只看目标，别老想障碍。七月-2007:31:4507:31Jul-2022-Jul-20 4、宁愿辛苦一阵子，不要辛苦一辈子。07:31:4507:31:4507:31Wednesday, July 22, 2020 5、积极向上的心态，是成功者的最基本要素。七月-20七月-2007:31:4507:31:45July 22, 2020 6、生活总会给你另一个机会，这个机会叫明天。22 七月 20207:31:45 上午07:31:45七月-20 7、人生就像骑单车，想保持平衡就得往前走。七月 207:31 上午七月-2007:31July 22, 2020 8、业余生活要有意义，不要越轨。2020/7/22 7:31:4507:31:4522 July 2020 9、我们必须在失败中寻找胜利，在绝望中寻求希望。7:31:45 上午7:31 上午07:31:45七月-20 10、一个人的梦想也许不值钱，但一个人的努力很值钱。7/22/2020 7:31:45 AM07:31:4522-七月-20 11、在真实的生命里，每桩伟业都由信心开始，并由信心跨出第一步。7/22/2020 7:31 AM7/22/2020 7:31 AM七月-20七月-20