《高等学校经济类双语教学推荐教材·经济学经典教材·金融系列：金融学（第2版）（全文影印）》以功能视角划分金融体系，采用统一整体的逻辑演进方式阐释金融领域涉及的问题。内容涉及金融和金融体系的基本介绍、时间与资源配置、价值评估模型、风险管理和资产组合理论、资产定价、公司金融等金融领域的基本问题。
　　《高等学校经济类双语教学推荐教材·经济学经典教材·金融系列：金融学（第2版）（全文影印）》致力于提供金融领域的全景化描述，将金融领域涉及的问题纳入逻辑严整的统一分析框架中，为使用者根据自己的喜好自行选择感兴趣的内容提供方便，并且有助于使用者迅速了解金融领域各个组成部分之间的逻辑关系。大量专栏和图表提供了丰富的背景知识，并为进一步的研究预留了充足的空间。这些专栏选取不同素材从各个角度说明理论的应用性，从而有利于加深理论的理解。

    兹维·博迪，波士顿大学管理学院的诺曼和阿黛尔·巴伦管理学讲席教授。他拥有麻省理工学院经济学博士学位，曾经供职于哈佛大学商学院以及麻省理工学院斯隆管理学院金融系。

第1部分  金融和金融体系
第1章  金融经济学
第2章  金融市场和金融机构
第3章  管控财务健康状况和经营业绩
第2部分  时间与资源配置
第4章  跨期配置资源
第5章  居民户的储蓄和投资决策
第6章  投资项目分析
第3部分  价值评估模型
第7章  市场价值评估的基本原理
第8章  已知现金流的价值评估：债券
第9章  普通股的价值评估
第4部分  风险管理和资产组合理论
第10章  风险管理的基本原理
第11章  对冲、投保以及分散化
第12章  资产组合的机会和选择
第5部分  资产定价
第13章  资本市场均衡
第14章  远期市场和期货市场
第15章  期权市场以及或有要求权市场
第6部分  公司金融
第16章  公司财务结构
第17章  实物期权
参考书目
专业术语

Of course, management still has the difficult task of estimating the impact of its deci-sion on the value of the firm's shares. Thus, in our preceding illustrations, in order tochoose between projects A and B, or between A and C, management would have to deter-mine which of them is likely to increase the value of the firm the most. This is not easy, butthe criterion for making the decision is unambiguous.
Thus, the goal of management is to make decisions so as to maximize the firm's valueto its shareholders. The main challenge in implementing this criterion is to obtain informa-tion about the likely impact of its decisions on the firm's value. Management's task is mademuch easier when it can observe market prices of its own and other firms' shares.
Indeed, in the absence of such market price information, it is difficult to see how theycan implement this criterion at all. Although it is reasonable to assume that good managerswill have as much information about their firm's production technology as anyone, suchinternal (to the firm) information is not sufficient to make effective decisions. In theabsence of a stock market, managers would require external (to the firm) information that iscostly if not impossible to obtain: namely, the wealth, preferences, and other investmentopportunities of the owners.
Thus, the existence of a stock market allows the manager to substitute one set of exter-nal information that is relatively easy to obtain--namely, stock prices--for another set thatis virtually impossible to obtain--information about the shareholders' wealth, preferences,and other investment opportunities. The existence of a well-functioning stock market,therefore, facilitates the efficient separation of the ownership and management of firms.
Note that in one respect the corporation's own senior managers and outside stock ana-lysts who follow the corporation face a common task. Both groups are concerned withanswering the question: How will the actions taken by management affect the market priceof the firm's shares? The big difference is that the managers are the ones who actually makethe decisions and have responsibility for implementing them.
One place to look for a statement of the goals of a corporation's top managers is theannual report to shareholders. Often the opening letter from the company's chief executiveofficer states what management's financial goals are and the general strategic plan forachieving them (see Box 1.6).
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