Ｐａｒｔ Ｏｎｅ Ｆｏｕｎｄａｔｉｏｎｓ ｏｆ Ｃｏｒｐｏｒａｔｅ Ｆｉｎａｎｃｅ (公司金融基礎) Chapter 1 Introduction(導論)…………………………………… 002 1.1 The Corporate Firm ……………………………………………… 002 1.2 What Is Corporate Finance? …………………………………… 003 1.3 The Goal of Financial Management …………………………… 005 1.4 The Agency Problem of Corporation …………………………… 008 Chapter 2 Financial Analysis(財務分析) …………………… 014 2.1 Financial Ratio Analysis ………………………………………… 014 2.2 Financial Planning and Growth ………………………………… 022 Chapter 3 The Time Value of Money (貨幣時間價值) … 035 3.1 Future Value and Compounding ………………………………… 035 3.2 Present Value and Discounting ………………………………… 037 3.3 Compounding Periods …………………………………………… 040 3.4 Annuity and Perpetuity …………………………………………… 041 3.5 Loan Amortization ………………………………………………… 046 Ｐａｒｔ Ｔｗｏ Ｉｎｖｅｓｔｍｅｎｔ Ｄｅｃｉｓｉｏｎ (投資決策) Chapter 4 Investment Rules(投資決策方法) ……………… 054 4.1 The Net Present Value …………………………………………… 055 4.2 The Payback Period ……………………………………………… 056 4.3 The Discounted Payback Period ……………………………… 058 4.4 The Internal Rate of Return ……………………………………… 059 4.5 The Profitability Index …………………………………………… 063 4.6 The Practice of Capital Budgeting …………………………… 064 Chapter 5 Capital Budgeting(資本預算) …………………… 072 5.1 Cash Flows ………………………………………………………… 072 5.2 Estimating Cash Flows …………………………………………… 075 5.3 The HWT Company: An Example ……………………………… 077 5.4 Special Cases of Discounted Cash Flow Valuation ………… 079 Chapter 6 Bond Valuation(債券估值)………………………… 092 6.1 Bond and Bond Market: Basic Concepts ……………………… 092 6.2 Bond Values and Yields ………………………………………… 094 6.3 Bond Types ………………………………………………………… 096 6.4 Inflation and Interest Rates ……………………………………… 105 Chapter 7 Stock Valuation(股票估值) ……………………… 111 7.1 Stock and Stock Market: Basic Concepts …………………… 111 7.2 Valuation of Stocks ……………………………………………… 112 7.3 Estimating the Cost of Equity Capital ………………………… 114 Ｐａｒｔ Ｔｈｒｅｅ Ｆｉｎａｎｃｉｎｇ Ｄｅｃｉｓｉｏｎ (融資決策) Chapter 8 Cost of Capital(資本成本) ………………………… 124 8.1 Cost of Capital: Basic Concepts ……………………………… 124 8.2 Return and Risk: The Capital Asset Pricing Model (CAPM)...129 Chapter 9 Capital Structure(資本結構) ……………………… 142 9.1 Capital Structure: Basic Concepts …………………………… 142 9.2 Capital Structure Theories ……………………………………… 145 9.3 Financial Leverage and Firm Value: MM with Taxes ………… 149 Chapter 10 Dividend Policy(股利政策) ……………………… 153 10.1 Dividends and Other Payouts ………………………………… 153 10.2 The Irrelevance of Dividend Policy …………………………… 161 10.3 Real- World Factors ……………………………………………… 165 Ｐａｒｔ Ｆｏｕｒ Ｓｈｏｒｔ－Ｔｅｒｍ Ｆｉｎａｎｃｅ Ｍａｎａｇｅｍｅｎｔ Ｄｅｃｉｓｉｏｎ (短期營運管理決策) Chapter 11 Short-Term Finance and Planning (短期財務和規劃) …………………………………… 176 11.1 Tracing Cash and Net Working Capital ……………………… 176 11.2 The Operating Cycle and the Cash Cycle …………………… 178 11.3 Some Aspects of Short- Term Financial Policy …………… 182 11.4 Cash Budget ……………………………………………………… 187 11.5 The Short- Term Financial Plan ……………………………… 190 Chapter 12 Cash Management(現金管理) ………………… 197 12.2 Understanding Float …………………………………………… 198 12.3 Cash Collection and Concentration ………………………… 201 12.4 Cash Disbursements and Idle Cash Investment …………… 204 Chapter 13 Credit and Inventory Management (信用和庫存管理) …………………………………… 212 13.1 Credit and Receivables ………………………………………… 212 13.2 Terms of Sale …………………………………………………… 214 13.3 Credit Policy ……………………………………………………… 218 13.4 Credit Analysis …………………………………………………… 220 13.5 Collection Policy ………………………………………………… 222 13.6 Inventory Management ………………………………………… 223 References ……………………………………………………………… 236 附錄 ………………………………………………………………………… 238 附錄 1 復利終值系數表(FVIF 表) ……………………………………… 238 附錄 2 復利現值系數表(PVIF 表) ……………………………………… 240 附錄 3 年金終值系數表(FVIFA 表) …………………………………… 242 附錄 4 年金現值系數表(PVIFA 表) …………………………………… 244