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Al Ahliyya Amman University - ACCOUNTING - 12345
NotToUse: 1) Being,tobe(Bothareconsideredtobepassive) 2) Unnecessaryingwordsshouldberemoved,whereverpossible. 3) Passivevoiceasfaraspossible e.g.Hisapproachisdifferentfromtheapproachusedbyanyothertenorispassiveand henceincorrectonGMAT Thecorrectsentenceis
University of Macau - FST - ECTO
Chapter 26Demand-Side Equilibrium: Unemployment or Inflation?A de finiteratio, to becalle theMultiplie can bee d r, stablishe d be e incom and inve e twe n e stm nt. JOHN MAYNARD KEYNESThe Meaning Of Equilibrium GDP Assumptions Constant Price level
University of Macau - FST - ECTO
Chapter 23The Goals of Macroeconomic PolicyWhe m n aree ploye the arebe conte d. ne m d, y st nte BENJAMI N FRANKLI N I nflation is re pudiation. CALVI N COOLI DGEGoals of Macroeconomic Policy Economic growth ingredients Aggregate supply Aggregate de
University of Macau - FST - ECTO
Chapter 22An Introduction to MacroeconomicsWhe thete scopee them re le nds, icroscopebe gins. Which of thetwo has thegrande vie r w? VI CTOR HUGOMacroeconomics & Microeconomics Microeconomics Decisions of individual units No matter how large Macroe
University of Macau - FST - ECTO
Chapter 18Taxation and Resource AllocationThetaxingpowerofthegovernmentmustbeusedtoproviderevenues forlegitimategovernmentpurposes.Itmustnotbeusedtoregulate theeconomyorbringaboutsocialchange. RONALDREAGANThe Level and Types of Taxation Economists cla
University of Macau - FST - ECTO
Chapter 14The Case for Free Markets I: The Price SystemIfthereexistedtheuniversalmindthat.wouldregistersimultaneously alltheprocessesofnatureandofsociety,thatcouldforecastthe resultsoftheirinterreactions,suchamind.could.drawupa faultlessandanexhaustivee
University of Macau - FST - ECTO
Chapter 12Between Competition and Monopoly. . . ne r fish nor fowl. ithe JOHN HEYWOODMonopolistic Competition Monopolistic competition Many buyers and sellers Freedom of exit and entry Perfect information Heterogeneous products Product differentiati
University of Macau - FST - ECTO
Chapter 9Investing in Business: Stocks and BondsAbargainthatisgoingtobecomeagreaterbargainisnobargain. MARTINSHUBIKFigure 1NASDAQ Stock Market Composite Index, 199020072Corporations & Unique Characteristics Corporation Firm - legal status of a fic
University of Macau - FST - ECTO
Chapter 7Production, Inputs, and Cost: Building Blocks for Supply AnalysisOf course thats only an e ate Theactual cost will behighe , stim . r. AUTO MECHANI C TO CUSTOMERFigure 1Historical costs for long-distance telephone transmissions2Short-Run vs
University of Macau - FST - ECTO
Chapter 6Demand and ElasticityA high cross e lasticity of de and [be e two goods indicate that m twe n s t he com tein thesam m t. [This can pre nt a supplie of y] pe e arke ve r oneof theproducts] fromposse ssing m onopoly powe ove price rr . DUPONT CE
University of Macau - FST - ECTO
Chapter 5Consumer Choice: Individual and Market DemandEverythingisworthwhatitspurchaserwillpayforit. PUBLILIUSSYRUSScarcity and Demand Demand consumers Can pay Willing to pay Individual consumer Choices Constraint: income Income scarce Purchase d
University of Macau - FST - ECTO
Chapter 4Supply and Demand An Initial LookThefreeenterprisesystemisabsolutelytooimportanttobeleft tothevoluntaryactionofthemarketplace. RICHARDKELLYThe Invisible Hand Invisible hand Adam Smith People pursue own self-interests Led by an invisible hand
University of Macau - FST - ECTO
Chapter 3The Fundamental Economic Problem: Scarcity and ChoiceOur necessi ti es ar e few but our wants ar e endl ess. I N SCRI PT I ON ON A FORT U N E COOKI EScarcity, Choice, & Opportunity Cost Resources; inputs; factors of production Instruments pr
University of Macau - FST - ECTO
ECONOMICS Principles & PolicyWilliam J. Baumol & Alan S. BlinderEconomics: Principles & Policy 11e Baumol & Blinder 2009 Cengage PowerPoint slides prepared by: Andreea Chiritescu Eastern Illinois UniversityChapter 1What is Economics?Whydoespublicdisc
Miami Dade - MGMT - 489
CHILTON'S MANUALCHILTON'S MANUALSource: http:/newsgroups.derkeiler.com/Archive/Sci/sci.chem.analytical/200907/msg00015.html From: Savion Iversen <iversenopejyya1328@xxxxxxxxx> Date: Tue, 14 Jul 2009 14:14:15 0700 (PDT)**ENTER HERE:> http:/yourguid
Miami Dade - HIST - 2010
GAE LEGISLATIVE ACCOMPLISHMENTS1970 2010Historical Note: GAE was founded May 9, 1970, by a merger of the 100-year-old GeorgiaEducation Association (GEA) and the 90-year-old Georgia Teachers and EducationAssociation (GT&EA). Thus, the Georgia Associati
Miami Dade - ENGR - 4022
www.tuneyourengine.com1992 - 1995 Honda Civic ECU DiagramConnector APin #A4A21A24NameVTEC Solenoid ValveIgnition Control ModulePower GroundSignal TypeAnalogRPMGroundConnector BPin #B10NameVehicle Speed SensorSignal TypeSpeedConnector
Miami Dade - MAT - 1033
HOW TO DO THE SCORE BOOKRUNS BATTED IN1.0 (a) Credit the batter with a run batted in for every run which reaches home base because ofthe batter's safe hit, sacrifice bunt, sacrifice fly, infield out or fielder's choice; or which is forcedover the plat
Miami Dade - LAW - 18
MenuLessonPrintNAME _ DATE _ CLASS _Holt PhysicsProblem 4BNEWTONS SECOND LAWPROBLEMA 1.5 kg ball has an acceleration of 9.0 m/s2 to the left. What is the netforce acting on the ball?SOLUTIONGiven:m = 1.5 kga = 9.0 m/s2 to the leftUnknown:F=
Miami Dade - REAL - 253
Richardson High SchoolCommencement of the Class of 2011Special Events CenterGarland, TexasMonday, June 6, 2011 7:00 p.m.Presentation of Colors and National Anthem.Berkner High School Junior ROTCProcessional.Golden Eagle BandJacob Garlinger, Directo
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and Security MarketsChapter 3: Securities MarketsPrimary vs. Secondary MarketsPrimary New issues Key factor: issuer receives the proceeds from the saleSecondary Existing owner sells to another party Issuing firm d
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and Security MarketsChapter 4: Mutual Funds and Other Investment CompaniesInvestment CompaniesInvestment companies: financial intermediaries that collectfunds from individual investors and invest those funds insecuri
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 5: Risk and Return: Past and PrologueHolding Period ReturnHPR = (P1 P0 + D1) / P0Where,P1 = ending priceP0 = beginning priceD1 = cash dividendsCapital gain vs. dividend yieldHolding Pe
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 6: Efficient DiversificationDiversification and Portfolio RiskMarket risk: results from general economic conditions suchas the business cycle, inflation, interest rates, exchangerates, etc
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 7: Capital Asset Pricing and ArbitragePricing TheoryAssetPricingModelsThese are equilibrium models that describe why assetshaving different characteristics generate differentexpected retu
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 10: Bond Prices and YieldsBond CharacteristicsA bond is a security that is issued in connection with aborrowing arrangement.The borrower issues (sells) a bond to a lender for somespecifie
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 11: Managing Bond PortfoliosInterest Rate RiskThere is an inverse relationship between bond prices andyields high yields imply low prices.This relationship becomes fundamental when conside
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 13: Equity ValuationWhat is valuation?Comparable companiesanalysisPremise: Similar companies provide a relevant referencepoint for valuing a target because they share keycharacteristics
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 15: Options MarketsDerivative InstrumentsDerivatives are securities whose prices are determined by,or derived from the prices of other securities.These assets are also called contingent cl
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 16: Option ValuationPrimary Assumptions of OPMsFrictionless capital markets (e.g., no transaction costs or taxes)Information simultaneously and costlessly available to all individualsNo re
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 17: Futures Markets and RiskManagementFutures and ForwardsFutures and forward contracts are like optionsthey specifypurchase or sale of some underlying asset at some futuredate.However,
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 18: Portfolio Performance EvaluationAbnormal PerformanceWhat is abnormal performance?How to measure abnormal performance?Comparison groupsMarket adjustedMarket model / index model adjust
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 19: Globalization and InternationalInvestingBackgroundGlobal market US market is approx. 33% of all markets US market index may not adequately represent the marketportfolio Emerging mar
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and Security MarketsChapter 1: Investments Background & IssuesChapter 2: Asset Classes and Financial InstrumentsInvestments & Financial AssetsEssential nature of investment Reduced current consumption Planned later
Miami University-Oxford - FIN - 401
FIN 401 Principles of Investments and SecurityMarketsChapter 8: The Efficient Market HypothesisChapter 9: Behavioral Finance and TechnicalAnalysisMarket efficientA market is efficient if the market value of assets areunbiased estimates of their tru
Miami University-Oxford - ECO - 301
Chapter3WhatIsMoney?Copyright 2010 Pearson Addison-Wesley. All rights reserved.MeaningofMoney Whatisit? Money(orthemoneysupply):anythingthatisgenerallyacceptedinpaymentforgoodsorservicesorintherepaymentofdebts. AratherbroaddefinitionCopyright 201
Miami University-Oxford - ECO - 301
Chapter6TheRiskandTermStructureofInterestRatesCopyright 2010 Pearson Addison-Wesley. All rights reserved.FIGURE1LongTermBondYields,19192008Sources:BoardofGovernorsoftheFederalReserveSystem, BankingandMonetaryStatistics,19411970 ;FederalReserve:www
Miami University-Oxford - ECO - 301
Chapter7TheStockMarket,theTheoryofRationalExpectations,andtheEfficientMarketHypothesisCopyright 2010 Pearson Addison-Wesley. All rights reserved.OnePeriodValuationModelDiv1P1P0 =+(1 + ke ) (1 + ke )P0 = the current price of the stockDiv1 =
Miami University-Oxford - ECO - 301
Chapter8AnEconomicAnalysisofFinancialStructureCopyright 2010 Pearson Addison-Wesley. All rights reserved.FIGURE1SourcesofExternalFundsforNonfinancialBusinesses:AComparisonoftheUnitedStateswithGermany,Japan,andCanadaSource:AndreasHackethalandReinha
Miami University-Oxford - ECO - 301
Chapter10BankingandtheManagementofFinancialInstitutionsCopyright 2010 Pearson Addison-Wesley. All rights reserved.TheBankBalanceSheet LiabilitiesCheckabledepositsNontransactiondepositsBorrowingsBankcapitalCopyright 2010 Pearson Addison-Wesley.
Miami University-Oxford - ECO - 301
Chapter11EconomicAnalysisofFinancialRegulationCopyright 2010 Pearson Addison-Wesley. All rights reserved.AsymmetricInformationandBankRegulation:GovernmentSafetyNet Bankpanicsandtheneedfordepositinsurance: FDIC:shortcircuitsbankfailuresandcontagion
Miami University-Oxford - ECO - 301
Chapter13CentralBanksandtheFederalReserveSystemCopyright 2010 Pearson Addison-Wesley. All rights reserved.ThePriceStabilityGoal Lowandstableinflation Inflation Createsuncertaintyanddifficultyinplanningforthefuture Lowerseconomicgrowth Strainsso
Miami University-Oxford - ECO - 301
Chapter15ToolsofMonetaryPolicyCopyright 2010 Pearson Addison-Wesley. All rights reserved.ToolsofMonetaryPolicy Openmarketoperations Affectthequantityofreservesandthemonetarybase Changesinborrowedreserves Affectthemonetarybase Changesinreserverequ
Miami University-Oxford - ECO - 301
Chapter16TheConductofMonetaryPolicy:StrategyandTacticsCopyright 2010 Pearson Addison-Wesley. All rights reserved.MonetaryTargetingI UnitedStates Fedbegantoannouncepubliclytargetsformoneysupplygrowthin1975. PaulVolker(1979)focusedmoreinnonborrowed
Miami University-Oxford - ECO - 301
REPAIRING THE FINANCIALSYSTEMBAILOUT AND REFORMWHAT EXACTLY HAPPENED? U.S. housing bubble. Large scale diversification andsecuritization of mortgages. MBCs emerge as a popularfinancial asset. FED raises interest rates. As a result, a large number o
Miami University-Oxford - ECO - 301
THE FINANCIAL SYSTEMPART 11781-1863POST-REVOLUTION FINANCESCongress did not have the authority to levy taxes during theRevolution, nor was there any systematic way to raise financialsupport from the states.Congress paid bills by printing more paper
Miami University-Oxford - FIN - 302
Lecture Notes: Part IIFinance 302 Spring 2012CHAPTERS 9, 6, 11, 22, & 12Betas, Capital Budgeting and Risk: Chapter 9(Note: We will not be covering section 9-4)Topics: WACC Asset When you can (cant) use the WACC as a discount rate in capital budge
Miami University-Oxford - FIN - 302
Final Set of Lecture NotesChapters 16-18, 15 & 24Chapter 16: Dividends & Payout PolicyIssue: How much should a company pay out to stockholders and how much should itretain? A firms earnings are either paid out in the form of dividends or retained. Wha
Miami University-Oxford - FIN - 302
Intermediate Corporate FinanceSpring Semester, 2012REVIEWGoal of the Manager of the Firm:a)b)c)d)e)f)Maximize shareholder wealthMinimize riskMaximize profits (max dividends; max after-tax cash flows over time)Maximize his or her salaryAll of
Miami University-Oxford - FIN - 301
CHAPTER1IntroductiontoFinancialManagementPartsofFinanceFormsofBusinessesGoalsoftheCorporationStockPricesandIntrinsicValueConflictsBetweenManagersandShareholders,Bondholders11PartsofFinanceFinancialManagementCapitalMarketsWhattypeofassetstoacq
Miami University-Oxford - FIN - 301
CHAPTER2TimeValueofMoneyFuturevaluePresentvalueAnnuitiesRatesofreturnAmortization21CalculatorsettingsFormatdecimals(for5decimals)Checkdivisorssotheyareset=1[2nd][.]5[enter][2nd][I/Y](upanddownarrow)C/YandP/Yshouldbe=11[enter]tochangeClearTV
Miami University-Oxford - FIN - 301
FinancialStatements,CashFlow,andTaxesKeyFinancialStatementsBalancesheetIncomestatementsStatementofretainedearningsStatementofcashflowsAccountingincomevs.cashflowFederaltaxsystem331TheAnnualReportBalancesheetprovidesasnapshotofafirmsfinancialp
Miami University-Oxford - FIN - 301
AnalysisofFinancialStatementsRatioAnalysisDuPontsystemEffectsofimprovingratiosLimitationsofratioanalysisQualitativefactors41BalanceSheet:Assets2010ECash85,632A/R878,000Inventories1,716,480TotalCA2,680,112GrossFA1,197,160Less:Dep.380,1
Miami University-Oxford - FIN - 301
CHAPTER5FinancialMarketsandInstitutionsTheCapitalAllocationProcessFinancialmarketsFinancialinstitutionsStockMarketsandReturnsStockMarketEfficiency51TheCapitalAllocationProcessInawellfunctioningeconomy,capitalflowsefficientlyfromthosewhosupplyca
Miami University-Oxford - FIN - 301
CHAPTER6InterestRatesDeterminantsofinterestratesThetermstructureandyieldcurvesInvestingoverseas61Whatfourfactorsaffectthelevelofinterestrates?ProductionopportunitiesTimepreferencesforconsumptionRiskExpectedinflation62Nominalvs.Realratesr
Miami University-Oxford - FIN - 301
BondsandTheirValuationKeyfeaturesofbondsBondvaluation Measuringyield Assessingrisk 71Whatisabond?Alongtermdebtinstrumentinwhichaborroweragreestomakepaymentsofprincipalandinterest,onspecificdates,totheholdersofthebond.72BondmarketsPrimarilytra
Miami University-Oxford - FIN - 301
CHAPTER8RiskandRatesofReturnStandaloneriskPortfolioriskRisk&return:CAPM/SML81InvestmentreturnsTherateofreturnonaninvestmentcanbecalculatedasfollows:(AmountreceivedAmountinvested)Return=_AmountinvestedForexample,if$1,000isinvestedand$1,100isre
Miami University-Oxford - FIN - 301
intrinsic value 91TV= Terminal Value92Note: Treated as perpetuity93
Miami University-Oxford - FIN - 301
TheCostofCapitalSourcesofcapitalComponentcostsWACCAdjustingforflotationcostsAdjustingforrisk101Whatsourcesoflongtermcapitaldofirmsuse?LongTermCapitalLongTermCapitalLongTermDebtLongTermDebtPreferredStockPreferredStockCommonStockCommonStock
Miami University-Oxford - FIN - 301
NPV=0 break even; NPV<0 loss money111