tailieunhanh - THE BALANCE SHEET POCKET BOOK phần 2

NGUỒN QUỸ Hầu hết các doanh nghiệp cần tài chính dài hạn, ví dụ: tiền đang được đầu tư vào kinh doanh trên cơ sở lâu dài, để cho phép nó để đạt được mục tiêu của nó. Có ba loại tài chính dài hạn: Mỗi có mong đợi của nhà đầu tư khác nhau và tác động đối với các doanh nghiệp được điều hành. Hầu hết các công ty sẽ chọn để có một kết hợp của ba loại. | THE BUSINESS FINANCIAL MODEL SOURCE OF FUNDS J2 Most businesses need long-term finance ie money that is being invested in the business on a long-term basis to allow it to achieve its aims. There are three categories of long-term finance Share capital Loan capital Retained profits Each of these has different investor expectations and implications for the way the business is run. Most companies will choose to have a mix of the three types. 9 THE BUSINESS FINANCIAL MODEL SOURCE OF FUNDS SHARE CAPITAL Definition Individuals or financial institutions provide capital by buying shares in the business. They do this in anticipation of a return comprising - dividends - growth Dividends Generally paid twice a year - an interim dividend based on the half-year accounts - a final dividend dependent on the full year s result No legal obligation for the company to pay a dividend Growth The investment increases in value creating the opportunity to sell at a profit THE BUSINESS FINANCIAL MODEL SOURCE OF FUNDS IMPLICATIONS OF SHARE CAPITAL The shareholders own the business not the Chief Executive and Board of Directors Shareholder expectations therefore have to be treated with respect If the performance of the business does not meet shareholder expectations - some or all of the Board may be dismissed - investors may sell their shares leading to a fall in share prices thus - making the business vulnerable to being taken over Note To acquire the business a predator has to buy the shares not the land buildings stock etc. If the share price falls the business becomes cheaper to .