Tài liệu Corporate finance Part 4- Chapter 2 pptx

... Association of Corporate Treasurers: www.treasurers.org General: J. Graham, C. Harvey, The theory and practice of corporate finance: Evidence from the field, Journal of Financial Economics, 60 (2 3), 179–185, ... implications of corporate cash holdings, Journal of Financial Economics, 52, 3–46, 1999. 955 Chapter 46 Managing cash flows S UMMARY @ download B IBLIOGRAPHY We will also co...

Ngày tải lên: 24/12/2013, 02:17

... MARGIN 9,773 41.6 11, 023 45.6 7 ,23 6 28 .6 5,146 32. 3 4,763 37.1 À Selling and marketing 3 ,27 6 13.9 2, 900 12. 0 3,367 13.3 2, 229 14.0 1,306 10 .2 costs À General and 1 ,23 1 5 .2 1,310 5.4 1,355 5.4 ... OPERATING PROFIT 1,893 8.1 2, 371 9.8 2, 911 11.5 2, 167 À13.6 À1,199 À9.3 À Financial expense 324 1.4 534 2. 2 719 2. 8 6 32 4.0 530 4.1 þ Financial income 24 8 1.1 404 1.7 5...

Ngày tải lên: 24/12/2013, 02:17

... end after after earnings of tax tax period 1 100 100 20 0 20 8 12 2 10 110 2 110 140 25 0 25 12 13 1 12 122 3 122 190 3 12 28 17 11 0 11 133 4 133 25 8 391 31 26 5 0 5 138 5 138 350 488 34 35 À10À1 137 6 ... period equity of period 1 100 15 15.0% 5 10 110 (þ10.0%) 2 110 18 16.4% 6 12 122 ( 20 %) ( 20 %) (þ10.9%) 3 122 21 .6 17.7% 7 .2 14.4 136.4 ( 20 %) ( 20 %) (þ11.8%) Alt...

Ngày tải lên: 24/12/2013, 02:17

... of Corporate Finance, 7, 341–366, December 20 01. M. Faccio, L. Lang, The ultimate ownership of Western European corporations, Journal of Financial Economics, 65( ¯ 3), 365–395, September 20 03. D. ... Policy, 8, 45–57, 19 92. On IPO: A. Subrahmanyam, S. Titman, The going public decision and the development of financial markets, Journal of Finance, 54(3), 1045–10 82, June 1999. 8 72 V...

Ngày tải lên: 24/12/2013, 02:17

... Shipping 22 222 222 22 222 2 424 À Interest expense 1 0.9 1.9 1.5 1.1 À Capital expenditure 30 30 þ New borrowings 20 20 À Repayment of 2 2 4 4 4 borrowings Change in cash À16 À6 À6 À1 42 1 022 221 .1 29 .9 ... Aug Sep Oct Nov Dec 20 05 20 06 20 07 20 05 20 05 20 05 20 05 20 05 20 05 20 05 20 05 20 05 20 05 20 05 20 05 Operating inflows Sales 12 12 12 12 12 12 12...

Ngày tải lên: 14/12/2013, 15:15

... 1984–1997 1 02 þ9.9 France 1984–1995 22 8 20 .9 (Second Marche ´ ) 19 92 1998 26 4 þ13 .2 Germany 1970–1993 180 þ9 .2 Greece 1987–1994 129 þ51.7 Hong Kong 1980–1996 334 þ15.9 India 19 92 1994 386 þ 72. 3 Indonesia ... 1984–1990 28 þ10.1 Brazil 1979–19 92 66 þ74.1 Canada 1971–19 92 258 þ5.4 Chile 19 82 1997 55 þ8.8 China 1990–1996 22 6 þ388.0 (A-shares) 1987–1995 57 þ37.1 (B-shares) D...

Ngày tải lên: 24/12/2013, 02:17

... (%) Nokia 68 Ericsson 29 Royal Bank of Scotland 28 Telefo ´ nica 27 BBV Argentaria 24 Banco Santander 24 Vodafone 23 ING 22 ENI 21 Roche 20 HSBC 20 BNP Paribas 19 Total 19 UBS 17 Siemens 17 Credit ... 3 ,23 4,000 2, 593,080 1,976,503 1,660 ,26 3 EBIT 570,000 704,000 518,580 306,178 21 2,855 Interest expenses ( 120 ,000) (79,800) (14,964) — — Earnings before tax 450,000 6...

Ngày tải lên: 24/12/2013, 02:17

... follow: @Eðr P Þ @a ¼ Eðr i ÞÀEðr M Þ @ðr P Þ @a ¼ 1 2 ½a 2  2 i þð1 À aÞ 2  2 M þ 2að1 À aÞ i m  À1 =2 ½2a 2 i À 2 2 M þ 2a 2 M þ 2 i M À 4a i M  Sharpe and Treynor’s insight is that ... April 20 00 to April 20 05 (% values): Ericsson 37.14 Roche 25 .25 Novartis 33.37 Vodafone 43.49 Nestle ´ 27 . 02 ENI 26 .70 Total 27 .05 GlaxoSmithKline 29 .05 UBS 30....

Ngày tải lên: 24/12/2013, 02:17

... trade finance and documentation, consult: Curmi, G. (20 01): International Trade Finance and Documentation, in Reuvid, J. (ed): A Handbook of World Trade, Kogan Page, London. 62 Debt Finance 2. 4 Legal ... against payment. Assuming that full sets Finance for Foreign Trade 57 2. 1 Structured Finance John Bagley NMB-Heller Introduction Traditionally, corporate finance was the...

Ngày tải lên: 14/12/2013, 15:15

... capital reserves of N2 million. Supervised by the Belgian Banking and Finance Commission and regulated by the Belgian Ministry of Finance, EASDAQ had 62 companies listed at the end of 20 00 with a total market ... 20 00 are compared in Figures 4 .2. 1 and 4 .2. 2 below. Consolidation of European stock exchanges With the acquisition of the London International Financial Futures Exchang...

Ngày tải lên: 14/12/2013, 15:15