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1 - 1 CHAPTER 1 Overview of Financial Management and the Financial Environment Financial management Forms of business organization Objective of the firm: Maximize wealth Determinants of stock pricing The financial environment Financial instruments, markets and institutions Interest rates and yield curves 1 - 2 Why is corporate finance important to all managers? Corporate managers finance provides the skills need to: Identify and select the corporate strategies and individual projects that add value to their firm. Forecast the funding requirements of their company, and devise strategies for acquiring those funds. 1 - 3 What are some forms of business organization a company might have as it evolves from a start-up to a major corporation? Sole proprietorship Partnership Corporation 1 - 4 Starting as a Sole Proprietorship Advantages: Ease of formation Subject to few regulations No corporate income taxes Disadvantages: Limited life Unlimited liability Difficult to raise capital to support growth 1 - 5 Starting as or Growing into a Partnership A partnership has roughly the same advantages and disadvantages as a sole proprietorship. ... - tailieumienphi.vn