Tài liệu Thư viện số

Danh mục TaiLieu.VN

.ILPIP MembersCourse Manual Equity Valuation and Analysis2008 AZEK/ILPIP /ILPIP, Copyright ©

The most popular securities among investors throughout the world are the shares of commonstock or equity of a firm. These shares represent the residual claim on the firm’s earnings. Theterm residual claim implies that the earnings of the firm belong to the common shareholdersof the firm after satisfying all other claims. These claims are employees’ wages/salaries,interest and principal payments to creditors who have advanced short- and long-term loans tothe firm, taxes, and claims of preferred shareholders. Thus, common shares are junior to allother corporate securities. Common share capital (or common stock) represents the risk capital provided by the owners of the firm. Because of the risk borne by common shareholdersthrough their investment in the firm, they enjoy certain rights that are not available to ownersof corporate debt or preferred stock.

Từ khóa: equity markets and structures, understanding the industry life cycle, analysing the industry sector, its constituent companies, valuation model of common stock, cơ cấu vốn chủ sở hữu

147 p tieuhoa 17/01/2013 312 2

Bình luận