包括資金成本,股利政策,租賃決策與衍生性金融商品之定價等主題.此外,將投資、籌資、股利及現金管理四大決策中，資本預算決策是創造公司價值最重要且最核心的決策，將公司有限資源用於最具競爭力的發展方向上，為公司創造最大的價值。財務管理就是提供一個清楚的概念以及完善的架構，讓財務管理人做出正確的資本預算決策。It includes themes such as capital cost, dividend policy, lease decision and pricing of derivative financial commodities. In addition, among the four major decisions of investment, capital, dividend and cash management, capital budget decision is the most important and core decision to create the company's value. It uses the company's limited resources to be used in the most competitive development direction to create the largest value for the company. Financial management is to provide a clear concept and a complete structure to allow financial managers to make correct capital budget decisions.
介绍公司之資本預算，融資決策的理論基礎與實務技術.包括資金成本,股利政策,租賃決策與衍生性金融商品之定價等主題.此外,將介紹一些新發展之課題,包括風險管理,選擇權,及公司併購等.主要內容分四大領域：
（1）資本預算決策：公司應投資多少？購置何種固定資產或無形資產？
資本預算決策決定了資產負債表左邊所呈現的價值大小及內涵。
（2）籌資決策：公司如何籌措資本預算所需的資金？
此涉及資產負債表右邊項目的變動。亦即，籌資決策會影響公司的資本結構（capital structure，或稱財務結構）。
（3）股利政策：公司如何將投資與營運所創造的淨收益分配給股東？有多少保留在公司以便支應未來投資所需的資金。
（3）現金管理：公司短期營運資金如何管理？
營運過程中，由於營運現金流入與營運現金流出的金額大小及時點經常不一致，致時而產生不確定性。第四個主要課題就是對現金流入與流出金額差距以及時點不一致性做最適的管理。
投資、籌資、股利及現金管理四大決策中，資本預算決策是創造公司價值最重要且最核心的決策，將公司有限資源用於最具競爭力的發展方向上，為公司創造最大的價值。財務管理就是提供一個清楚的概念以及完善的架構，讓財務管理人做出正確的資本預算決策。
Introduce the theoretical basis and practical technology of the company's capital budget, financing decisions, including fund costs, dividend policies, lease decisions and pricing for derivative financial commodities. In addition, some new development topics will be introduced, including risk management, choice, and company mergers. The main contents are divided into four major areas:
(1) Capital budget decision: How much should the company invest? What kind of fixed or intangible assets should be purchased?
The capital budget decision determines the value size and connotation presented on the left side of the asset debt table.
(2) Capital decision: How can a company take measures to solve the funds required for capital budgets?
This involves changes to the items on the right side of the asset debt table. That is, capital structure (or financial structure) of the company.
(3) Dividend policy: How does a company distribute the pure income created by investment and operation to shareholders? How much money is retained in the company to support future investments.
(3) Cash management: How to manage the company's short-term operation funds?
During the operation process, there are often inconsistent amounts and timings of cash inflows and cash outflows in operation, which leads to uncertainty. The fourth main topic is to manage the gap between cash inflows and outflows and the inconsistency between time points.
Among the four major decisions of investment, capital, dividend and cash management, capital budget decisions are the most important and core decisions to create the company's value. They use the company's limited resources in the most competitive development direction to create the greatest value for the company. Financial management is to provide a clear concept and a complete structure to allow financial managers to make correct capital budget decisions.
1.廖國宏編著,Financial Decision Analysis,2011,講義.
1.Editored by Liao Guohong, Financial Decision Analysis, 2011, Lecture.
| 評分項目 Grading Method | 配分比例 Grading percentage | 說明 Description |
|---|---|---|
| 期中與期末各50%期中與期末各50% 50% each in the mid-term and end-term |
100 |
