Financial Management 문서 원본 보기

'''Financial management'''([[재무관리]]) is the field of study that examines what rational decisions a chief executive officer (CEO) and financial managers should make to maximize [[shareholder]]'s wealth. Its central questions are:
* Capital budgeting: Where should the firm invest?
* Capital structure: Where should the firm obtain the funds to invest?
* Working capital: How should the firm handle its day-to-day financial operations?

From classical economics' point of view, a firm's objective is to maximize shareholders' wealth. Recently, however, some argue that the firm should consider the value created for a broader set of [[stakeholder]]s, not just shareholders. 

== Financial Management as a Course ==
At most universities, Financial Management is an introductory first- or second-year undergraduate course that provides the foundational concepts for later, more specialized financial studies. Key topics include financial statements, cash flows, the time value of money, risk, and portfolios. A widely used textbook is Ross, Westerfield, Jordan, [https://product.kyobobook.co.kr/detail/S000003153196 Fundamentals of Corporate Finance] (13th edition, 2021, McGraw-Hill Education, ISBN: 9781265553609). Instructors typically cover Parts 1-5 of that text in Financial Management; Part 6 and beyond are usually taken up in a follow-on [[Corporate Finance]] course. The outline below follows RWJ's organization and highlights the main concepts. 

=== Part 1. Overview of Corporate Finance === 

==== Chapter 1. Introduction to Corporate Finance ==== 

==== Chapter 2. Financial Statements, Taxes, and Cash Flow ==== 
* [[Financial statement]]s
* [[Corporate tax]]es

=== Part 2. Financial Statements and Long-Term Financial Planning ===

==== Chapter 3. Working with Financial Statements ====
* [[Financial ratio]]s

==== Chapter 4. Long-Term Financial Planning and Growth ====
* [[Percentage-of-sales approach]]
* [[Internal growth rate]]
* [[Sustainable growth rate]]

=== Part 3. Valuation of Future Cash Flows ===

==== Chapter 5. Introduction to Valuation: The Time Value of Money ==== 
* [[Present value]]
* [[Interest rate]]s

==== Chapter 6. Discounted Cash Flow Valuation ==== 
* [[Discounted cash flow valuation]]

==== Chapter 7. Interest Rates and Bond Valuation ====
* [[Bond]]s

==== Chapter 8. Stock Valuation ==== 
* [[Stock]]s

=== Part 4. Capital Budgeting ===

==== Chapter 9. Net Present Value and Other Investment Criteria ==== 
* [[Net present value]]
* [[Internal rate of return]]
* [[Profitablity index]]

==== Chapter 10. Making Capital Investment Decisions ====

==== Chapter 11. Project Analysis and Evaluation ====

=== Part 5. Risk and Return === 

==== Chapter 12. Some Lessons from Capital Market History ==== 
* [[Rate of return]]
* [[Risk]]

==== Chapter 13. Return, Risk, and the Security Market Line ====
* [[Capital Asset Pricing Model]]