Finance Theory
The Signaling Role of Financing Decisions
Instructor: Chyi-Mei Chen
(TEL) 3366-1086
(Email) [email protected]
1. Modigliani and Millers (1958) Proposition 1 shows that when perfect
nancial markets are in equilibrium, rms holding the same ass
Undergraduate Econometrics, Spring 2016
Problem Set 1
Shih-Wei Chao
Due: 2:10PM, March 10, 2016
1. Let X be a random variable where
1 < X < 1. Dene M (t) = E etX where t is a real
number. In addition, let M 0 (t) = dM (t)=dt and M 00 (t) = d2 M (t)=dt2 .
Undergraduate Econometrics, Spring 2016
Problem Set 1 Answer Key
Shih-Wei Chao
1. The goal of this question is to introduce the moment generating function.
(a) It is clear that M 0 (t) = E XetX . Thus M 0 (0) = E (X), which is the mean of
X.
(b) Note that
The SK-II Decision: A Global Brand?
After 6 months in Japan, the turnaround had pulled off.
Reviewed the opportunities, De Cesare found 3 alternatives that
1. Success in Taiwan & Hong Kong encouraged enter Great China.
2. To bring SK-II into the large W
Lessons from the case to Cam
pagnolo
Matt
Does it matter where Campagn
olo parts are made?
Background: Campagnolo aims
to enter Japanese Market.
In 2001, Campagnolo agreed to have a join
t venture with Japan-based Company.
It is called CatEye. A world
Chagas Project - Facts
Chagas Disease ( ):
Caused by a related parasite
A disease without a vaccine
Transmitted to humans and other mammals mostly by blood-sucking bugs.
Genzyme Brazil:
Key Person - Rogerio Vivaldi, head of Latin America
Opened in 199
Lessons from the case to
Campagnolo
CESAR
MATT
WAIT! WHAT IS CAMPAGNOLO?
MAIN COMPETITORS
SHIMANO
SRAM
Problems in Campagnolo
Bad in outsourcing strategies
Diversification of products
Business model not adapted to current global demands
Lesson 1 Broa
Cesar
Mat
Profile of Founder
Gerard Philips and his father
founded the first light bulb
factory in 1892, Eindhoven.
Anton, his brother, is a salesman
and manager.
1892- 1912
Centralized
One-product
focused
(light-bulbs)
Significant
innovation
Expand
o
McKinsey & Company:
Managing Knowledge and Learning
100071023 James
101071006 Abel
101071016 Mat
James Mckinsey
(1889 1937)
Background: The Founders Lagacy
Founded in 1926 by James Mckinsey, University of Chicago professor.
Mckinseys General Survey Outl
Actions & After the case
Actions & After the case
Cesar
Mat
After the case
Review of Schindler Group in India
Focus on
Standard Elevators
Have difficulties meeting
local demands and
customization for products
Review of Schindler Group in India
The Outso
Finance Theory
Name:
Solutions to Quiz 1
ID:
Instructor: Chyi-Mei Chen
(TEL) (02) 3366-1086
(Email) [email protected]
This page is the answer sheet to be submitted at the end of
this quiz. Make sure that you have written down your name and ID before
g
Finance Theory
Solutions to the Midterm Exam
Name:
ID:
This page is the answer sheet to be submitted at the end of
this exam. This is an open-book exam. Do not ask questions during the
exam.
Fill in your solutions in this table:
Question No.
No. 1
No. 2
N
Finance Theory
A Quick Review of Game Theory
Instructor: Chyi-Mei Chen
Room 1102, Management Building 2
(02) 3366-1086
(email) [email protected]
1. Denition 1. A game can be described by:
Who are the players?
What strategies are available to each pl
Finance Theory
Practice Questions for quiz 1, Part I.
Instructor: Chyi-Mei Chen
(TEL) 3366-1086
(email) [email protected]
1. (NE) Consider the following strategic game:
player 1/player 2
U
D
L
1,1
0,0
R
0,0
3,2
Any NE can be represented by (p, q), whe
Finance Theory
Practice Questions for the Midterm Exam
1. We shall use the model of Bagnoli and Lipman (1996) to discuss here
the role of noise trading in mitigating the free-rider problem facing a
potential acquirer in a tender oer game. 1
First consider
Finance Theory
The Kyle (1985, Econometrica) and Glosten-Milgrom-Easley-OHara
(1985-1987, JFE) Models
Instructor: Chyi-Mei Chen
Room 1102, Management Building 2
(02) 3366-1086
(email) [email protected]
1. Consider the order-driven model in Kyle (1985,
Finance Theory
CSV and Agency Models of Debt Financing
1. The rst two sections will review and practice several concepts related
to the costly-state-verication (CSV) model. The third section will
discuss the two agency costs pertaining to the use of nanci
723 M2000 Finance Theory
Course Syllabus, Spring 2012
Class meet: 6:30-9:20pm, Thursday, Room 203 of Management Building 1
Instructor: Chyi-Mei Chen, R1102
(TEL) (02) 3366-1086
(Email) [email protected]
(Website) http:/www.n.ntu.edu.tw/cchen/
This is
Finance Theory
Practice Questions for quiz 1, Part II.
Instructor: Chyi-Mei Chen
(TEL) 3366-1086
(email) [email protected]
1. (Multi-variate Normal Random Variables) Given a random vec
tor xn1 , let its mean vector be
en1 =
E[1 ]
x
E[2 ]
x
.
.
.
E[n ]
Lessons from the case to Cam
pagnolo
Cesar
Matt
Review
Its headquarter is located in Vicenza, Italy.
Only two factories in Bulgaria.
Focus on techniques and designing.
Current rivals: Shimano & SRAM
Lesson 1: Acquisition
(1) The purpose of Acquisition
a
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101071016
Invitation Letter
[]
Dear Jacky,
I am Matt Lee.Do you recognize me?I hope this letter finds you well.
I am the guy who is interested in playing badminton,and furthermore,I have a strong
passion in Accounting.I am pretty confident with m