an overview of corporate financing

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1、confirmingpagesPART4"""""CHAPTERFINANCINGDECISIONSANDMARKETEFFICIENCY14AnOverviewofCorporateFinancing!Wenowbeginouranalysisoflong-termfinancingpaid.Stockholders,ontheotherhand,havecompletedecisions—anundertakingwewillnotcompleteuntilcontrolofthefirm,providingthatt

2、heykeeptheirpromisesChapter25.Thischapterprovidesanintroductiontotolenders.Asownersofthebusiness,stockholderscorporatefinancing.Itreviewswithabroadbrushseveralhavetheultimatecontroloverwhatassetsthecompanytopicsthatwillbeexploredmorecarefullylateron.buys,howtheass

3、etsarefinanced,andhowtheyWestartthechapterbylookingataggregatedataareused.Ofcourse,inlargepubliccorporationstheonthesourcesoffinancing.Muchofthemoneyfornewstockholdersdelegatethesedecisionstotheboardofinvestmentscomesfromprofitsthatcompaniesretaindirectors,whointu

4、rnappointseniormanagement.Inandreinvest.Theremaindercomesfromsellingnewthesecaseseffectivecontroloftenendsupwiththedebtorequitysecurities.Thesefinancingpatternsraisecompany’smanagement.severalinterestingquestions.DocompaniesrelytooThesimpledivisionofcashflowamongd

5、ebtandheavilyoninternalfinancingratherthanonnewissuesequityglossesoverthemanydifferenttypesofdebtthatofdebtorequity?AredebtratiosofU.S.corporationscompaniesissue.Therefore,wecloseourdiscussiondangerouslyhigh?Howdopatternsoffinancingdifferofdebtandequitywithabriefc

6、anterthroughthemainacrossthemajorindustrializedcountries?categoriesofdebt.WealsopausetodescribecertainlessOursecondtaskinthechapteristoreviewsomeofcommonformsofequity,particularlypreferredstock.theessentialfeaturesofdebtandequity.LendersandThefinancialcrisisthatst

7、artedinthesummerofstockholdershavedifferentcashflowrightsandalso2007demonstratedtheimportanceofhealthyfinancialdifferentcontrolrights.Thelendershavefirstclaimonmarketsandinstitutions.Wewillreviewthecrisis,cashflow,becausetheyarepromiseddefinitecashintroduceyoutoth

8、emajorfinancialinstitutions,andlookpaymentsforinterestandprincipal.Thestockholderattherolesthatfinancialinstitutionsplayincorporatereceiveswhatevercashi