公司理财讲义（2）--巫和懋.pptx

Capital Investment Decisions;Investment Decision;2.1 Net Present Value : FV and PV;Net Present Value;Net Present Value as the Investment Criterion;2.2 Project Evaluation in a Riskless World;(I) Saving (Financing) Decision ;Use PV to Check Feasibility of Consumption plan;(Ⅱ) Investment Opportunities;Corporate Investment Decision?Making;(Ⅲ) Investment Opportunities with Financial Markets;Project Valuation in a Riskless World;Corporate Investment Decision?Making;Optimal Investment Plan;Fisher’s Separation Principle ;Why do we use NPV or PV as investment criterion;NPV as Investment Criterion;2.3 Present Value and Compounding;How Long is the Wait?;Example 6: Assume the total cost of a college education will be $50,000 when your child enters college in 12 years. You have $5,000 to invest today. What rate of interest must you earn on your investment to cover the cost of your child’s education?;2.4 PV with Special Cash Flows;Perpetuity;Growing Perpetuity;Annuity;Growing Annuity;What Is a Firm Worth?;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。07:32:0507:32:0507:327/22/2020 7:32:05 AM 3、每天只看目标，别老想障碍。七月-2007:32:0507:32Jul-2022-Jul-20 4、宁愿辛苦一阵子，不要辛苦一辈子。07:32:0507:32:0507:32Wednesday, 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-2007:32:0507:32:05July 22, 2020 6、生活总会给你另一个机会，这个机会叫明天。22 七月 20207:32:05 上午07:32:05七月-20 7、人生就像骑单车，想保持平衡就得往前走。七月 207:32 上午七月-2007:32July 22, 2020 8、业余生活要有意义，不要越轨。2020/7/22 7:32:0507:32:0522 July 2020 9、我们必须在失败中寻找胜利，在绝望中寻求希望。7:32:05 上午7:32 上午07:32:05七月-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 7:32:05 AM07:32:0522-七月-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 7:32 AM7/22/2020 7:32 AM七月-20七月-20