演講人：日期：金融相關(guān)英文演講目錄CONTENTSIntroductiontoFinanceFinancialMarketsandInstrumentsBankingandFinancialIntermediationInvestmentsandPortfolioManagementCorporateFinanceandValuationInternationalFinanceandGlobalization01IntroductiontoFinanceFinanceisthestudyofhowindividuals,businesses,andgovernmentsmanagemoneyandinvestmentsItencompassesvariousactivitiessuchassaving,investing,borrowing,lending,andforecastingfuturefinancialneedsFinancealsoinvolvestheeffectiveallocationofresources,riskmanagement,andthemaximizationofreturnsoninvestmentsDefinitionandOverviewofFinanceFinanceplaysacriticalroleintheeconomybyfacilitatingtheflowoffundsfromsaverstoinvestorsFinancealsoaidsinriskmanagementbyadvancingtoolsandtechniquestomitigatepotentiallossesThefinancialsectoremployeeshaveasignificantnumberofpeopleandcontributionstotheoveralleconomicdevelopmentofacountryIthelpsinthecreationofwealthandeconomicgrowththroughtheeffectiveallocationofcapitalImportanceofFinanceintheEconomyBasicConceptsinFinanceCapitalMoneyorwealthusedtogeneratemoremoneyorwealththroughinvestmentsInterestThecostofborrowingmoneyorthereturnearnedonsavingorinvestingRiskThepotentialforlossoradverseoutcomesassociatedwithaninvestmentorfinancialdecisionReturnThegainorlossrealizedonaninvestmentoveraspecifiedperiod,commonlyexpressedasapercentageoftheoriginalinvestment02FinancialMarketsandInstrumentsTypesofFinancialMarketsCapitalMarketsWherebusinessesandgovernmentsraiselongtermfundsthroughthesaleofsecuritieslikestocksandbondsMoneyMarketsShorttermfinancialmarketswhereparticipantsborrowandlendmoneyforperiodsofuptooneyear,usinginstrumentssuchascommercialpaperandtreasurybillsDerivativesMarketsMarketswherethevalueoftheunderlyingasset,suchascommodities,currencies,interestrates,orstocks,isderivedfromthepricemovementsofthoseassetsForeignExchangeMarketsGlobaldecentralizedmarketswherecurrenciesaretradedagainsteachotherTypesofFinancialMarketsStocksRepresentownershipinacompanyandtitletheholdertoashareofthecompany'sprofitsBondsDebtsecuritiesissuedbygovernmentsorcorporationstoraisecapital,withapromisetopaybacktheprincipalplusinterestataspecifieddateMutualFundsInvestmentvehiclesthatpoolmoneyfrommanyinvestorstopurchaseaportfolioofstocks,bonds,orothersecuritiesDerivativesFinancialcontractswhosevalueisderivedfromtheperformanceofanunderlyingassetorgroupofassets01020304FinancialInstrumentsandTheirUsesPriceDiscoveryFinancialmarketsfacilitatetheprocessofpricediscovery,wherebuyersandsellersinteracttodeterminethefairmarketvalueofanassetLiquidityMarketsprovideliquidity,whichallowsparticipantstobuyandsellassetsquicklyandatareasonablepriceRiskManagementFinancialmarketsofferavarietyoftoolsandstrategiesformanagingrisk,includingdiversification,hedging,andinsuranceCapitalAllocationMarketsallocatecapitaltoitsmosteffectiveusebydirectinginvestmenttowhereitismostneededandliketogeneratethehighestreturnHowFinancialMarketsWork03BankingandFinancialIntermediationFacilitatingPaymentsBanksplayacriticalroleinfacilitatingpaymentsbetweenindividualsandbusinesses,reducingtheneedforcashtransactionsMobilizingSavingsBanksmobilesavingsbyofferingdepositaccountsthatpayinterest,encodingindividualstosavemorethanspendtheirincomeimmediatelyAllocatingCreditBanksallocatecreditbyassessingthecreditworthinessofborrowersanddeterminingthetermsandconditionsofloans,ensuringthatfundsaredirectedtoproductiveusesRoleofBanksintheEconomyManagingRiskBanksmanageriskbydiversifyingtheirloanportfolios,engaginginhedgingactivities,andrequiringcollateralorguaranteesfromborrowersRoleofBanksintheEconomyRetailBanksRetailbanksfocusonprovidingfinancialservicestoindividualsandsmallbusinesses,includingcheckingandsavingsaccounts,mortgages,andpersonalloansCommercialBanksCommercialbanksprovideawiderangeoffinancialservicestobusinesses,includingbusinessloans,internationaltradefinancing,andtreasurymanagementservicesInvestmentBanksInvestmentbanksspecializeinraisingcapitalandadvisingonmerchantsandacquisitions,aswellastradingsecuritiesandmanagingassetsforclientsTypesofBanksandTheirFunctionsCentralBanksCentralbanksareresponsibleformonetarypolicyandregulatingthebankingsystem,includingsettinginterestratesandcontrollinginflationTypesofBanksandTheirFunctionsFinancialintermediationFinancialintermediationinvolvestheprocessofchannelingfundsfromsaverstoborrowersthroughfinancialinstitutionssuchasbanksAssessmentofCreditworthinessBanksassessthecreditworthinessofpotentialborrowersbyconsideringfactorssuchastheirincome,assets,liabilities,andcredithistoryDeterminationofLoanTermsBasedontheassessmentofcreditworthiness,banksdeterminethetermsandconditionsofloans,includingtheinterestrate,loanamount,andpaymentscheduleFinancialMediationProcessMonitoringandCollectionAfterdeburringloans,banksmonitortheuseoffundsbyborrowersandcollectpaymentsaccordingtotheagreedtermsFinancialMediationProcess04InvestmentsandPortfolioManagementStocksRepresentownershipinacompanyandofferthepotentialforcapitalapplicationanddividendsBondsRepresentativedebtobligationsofgovernmentsorcorporationsandprovideregularinterestpaymentsMutualFundsPoolsofmoneyfrommanyinvestorsthatareinvestedinadiversifiedportfolioofstocks,bonds,orothersecuritiesExchangeTradedFunds(ETFs)SimilartomultiplefundsbuttradelikestocksonanexchangeandofferintradaypricingTypesofInvestmentsAvailableRebalancingAdjustingtheassetallocationofaportfolioperiodicallytomaintainthedesiredriskandreturnprofileActiveManagementInvoicesongingbuyingandsellingdecisionsbyaportfoliomanagertoperformabenchmarkindexPassiveManagementAimstomatchtheperformanceofabenchmarkindexbyholdingallorarepresentativesampleofthesecuritiesintheindexAssetAllocationTheprocessofdividinginvestmentsamongdifferentassetclasses(e.g.,stocks,bonds,cash)tobalanceriskandreturnPortfolioManagementStrategiesRiskandreturnarepositivelycorrelatedHigherpotentialreturnsgenerallycomewithhigherriskDiversificationcanreduceriskSpreadinginvestmentsacrossdifferentassetclassesandgeographicregionscanhelpmitigatetheimpactofanysingleinvestment'spoorperformanceRisktolerancevariablesbyinvestorsDifferentinvestorshavedifferentlevelsofcomfortwithrisk,whichshouldbeconsideredwhendetermininganappropriateinvestmentstrategyRiskandReturnTradeoffRiskandReturnTradeoffRiskcanbemanagedthroughhedgingstrategiesHedginginvestmentstakingoffsettingpositionstoreducetheriskofadversepricemovementsinaspecificassetormarket05CorporateFinanceandValuationAllocatingFinancialResourcesCorporatefinanceplaysacriticalroleinallocatingfinancialresourceswithinafirm,ensuringthatfundsareusedeffectivelyandeffectivelytosupportbusinessoperationsandgrowthManagingRiskItinvolvesidentifying,assessing,andmanagingfinancialriskstoprotectthecompany'sassetsandmaintainfinancialstabilityMaximizingShareholderValueCorporatefinanceaimstomaximizeshareholdervaluebymakingstrategicdecisionsaboutinvesting,financing,anddividingpoliciesRoleofCorporateFinanceinBusinessDiscountedCashFlow(DCF)AnalysisThismethodestimatesthevalueofabusinessbydiscountingitsfuturecashflowstothepresentvalue,takingintoaccountthetimevalueofmoneyandtherisksassociatedwithfuturecashflowsComparativeCompanyAnalysisThisapproachinvolvesvaluingabusinessbycomparingittosimilarcompaniesinthesameindustry,usingmetricssuchaspricetoearningsrates,enterprisevaluetoEBITDA,andotherrelevantfinancialratesPriorTransactionsAnalysisThistechnologyinvolvesanalyzingpasttransactionsofsimilarbusinessestodetermineavaluationrangeforthetargetbusinessValuationTechniquesforBusinesses010203Debtvs.EquityFinancingFirmsneedtodecideontheappropriatemixofdebtandequityfinancingtofundtheiroperationsandgrowth,consideringfactorssuchascostofcapital,financialflexibility,andriskLevelandFinancialRiskLevelreferstotheuseofdebttofinancialassetsandcanincreaseafirm'sfinancialriskFirmsneedtostrikeabalancebetweenleveragingtheiroperationsforgrowthandmaintainingfinancialstabilityDividedPolicyFirmsalsoneedtodecideontheirdividedpolicy,whichinvolvesdetermininghowmanyoftheirearningsshouldbepaidouttoshareholdersversusretainedforfutureinvestmentsandgrowthCapitalStructureDecisions06InternationalFinanceandGlobaliz