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International Financial Management lectures 1-4

IFM lectures and notes 1-4

IFM lectures and notes 1-4

Kartei Details

Karten 64
Sprache English
Kategorie Finanzen
Stufe Universität
Erstellt / Aktualisiert 04.01.2022 / 13.01.2022
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  • current assets 
  • non-current assets 
    • tangible ex buildings (actifs courants)
    • intangible ex trademark, logo, goodwill


= capital structure (capitaux propres ) 

  • current liabilities 
  • non-current liabilities 
  • shareholder's equity 

a bond

debt obligation, standardized "I owe you" 

long term debt for companies 

value of a firm

value of bonds + value of shares 

goal of financial management 

  • maximize share price of company -> shareholder value maximization 
  • if no traded shares, maximize market value of owner's equity 

money market vs capital market 

  • money market: short term, debt 
  • capital market: long term, equity and debt

dealer vs agency markets

  • dealer markets: dealers are firms who provide liquidity by purchasing and selling against personal inventory and at own risk
  • agency markets: agent buys and sells for customer, gets a commisson 

primary vs secondary markets 

  • primary market: company issues its own bonds 
  • secondary: people buy bonds from each other without involving company