社團的財政的基本原則(pdf 651頁)(英文)

his material is an introduction to corporate finance. We will discuss the
various responsibilITIEs of the corporation’s financial managers and
show you how to tackle many of the problems that these managers are
expected to solve. We begin wITh a discussion of the corporation, the financial
decisionsITneeds to make, and why they are important.

To survive and prosper, a company must satisfy its customers.ITmust also produce
and sell products and services at a profit. In order to produce,ITneeds many assets—
plant,EQuipment, offices, computers, technology, and so on. The company has to decide
(1) which assets to buy and (2) how to pay for them. The financial manager plays
a key role in both these decisions. The investment decision, that is, the decision to invest
in assets like plant,EQuipment, and know-how, is in large part a responsibilITy of
the financial manager. So is the financing decision, the choice of how to pay for such
investments.

We start by explaining how businesses are organized. We then provide a brIEf introduction
to the role of the financial manager and show you why corporate managers need
a sophisticated understanding of financial markets. Next we turn to the gOAls of the firm
and ask what makes for a good financial decision. Is the firm’s aim to maximize profITs?
To avoid bankruptcy? To be a goodcitizen? We consider some conflicts of interest
that arise in large organizations and revIEw some mechanisms that align the interests of
the firm’s managers with the interests ofITs owners. Finally, we provide an overvIEw of
what is to come.

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