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[转帖]Corporate Finance

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发表于 2008-12-27 17:01:00 | 显示全部楼层

[转帖]Corporate Finance

Corporate Finance: Overview
    


A career in corporate finance means you would work for a company to help it find money to run the business, grow the business, make acquistions, plan for it's financial future and manage any cash on hand. You might work for a large multinational company or a smaller player with high growth prospects. Responsibility can come fast and your problem-solving skills will get put to work quickly in corporate finance.

The job of the financial officer is to create value for a company. For example, the finance group at American Electric Power of Columbus, Ohio has four main areas of concentration: liquidity, flexibility, compliance with laws and regulatory support. The goals of the objective are met through four main activities carried out by AEP's Finance Department: 1) designing, implementing and monitoring financial policies, 2) planning and executing the financing program, 3) managing cash resources, and 4) interfacing with the financial community and investors.

Jobs in corporate finance are also relatively stable while performance in these jobs count. But it's not like your job is going to depend on whether you're selling enough this week or getting good deals finished this quarter. Rather the key to performing well in corporate finance is to work with a long view of what going to make your company successful. Many would argue that corporate finance jobs are the most desirable in the entire field of finance.

Some of the benefits of working in corporate finance are:

You generally work in teams which help you work with people It's a lot of fun to tackle business problems that really matter
You'll have many opportunities to travel and meet people and The pay in corporate finance is generally quite good.
    

 楼主| 发表于 2009-3-5 14:45:00 | 显示全部楼层

百度来的 by larry lang

投资学主要是探讨金融市场和金融资产(包括股票债券,期权和期货)定价模式。关于课程方面投资学领域可以开出如下课程------投资学(探讨金融市场的组织和特性,股票,债券和期权与期货的基本特性和基本定价),固定收益债券(专门探讨政府债券和公司债的特性和定价),国际金融市场(介绍国际金融市场的组织,运作和金融工具的运用,利率,汇率的定价和特性等等),期权与期货(专门探讨期权与期货的特性和定价) 
  
            
公司财务主要是探讨公司实物投资与财务运作的决策过程。公司财务学领域可以开出如下课程------公司财务,公司兼并与收购公司治理。公司财务课程讨论如何评估(实物)投资项目的收益与风险投资项目的融资,股利政策和破产与重组等等课题。公司兼并与收购课程探讨如何利用公司财务课程所学到的评估与融资手段进行企业或项目的收购。公司治理探讨公司财务政策对股价的影响也就是如何透过公司财务的运作以追求公司价值极大化。由于师资的缘故,因此一般学校是不开设公司治理课程的。有些学校也开国际公司财务的课程但一般反应都不太好。主要由于该课程与公司财务课程的差别不够大而且市面上的教材也不足。 
  
        

        我想读者可能也想了解一下投资学和公司财务的研究方向。投资学的研究方向是金融资产的理论定价和理论模型的实证检定。其重要课题包括资产定价模型(CAPM),风险套利模型(APT),微观结构(Microstructure),期权与期货(Options & Futures)和一般均衡定价模型(General Equilibrium)等等。投资学领域对于数学和统计的要求相当高,由于国人从小到大受到良好的数学逻辑思维的教育,因此国人在此领域较易发挥。几位较有成就的华人金融学家例如MIT的王江耶鲁的陈志武等人均在此一领域。我在此领域只能说是稍有涉猎。 
  
            
    公司财务的研究方向主要是下面六大类,股利政策,借债政策破产与重组兼并与收购多角化经营和股权结构等。公司财务的研究主要是利用实际公司资料做实证检定。理论模型虽偶尔会利用到较高深数学,但理论终究不是公司财务的主流。公司财务中较受到重视的理论反而是以逻辑推演为主,而不以数学推导为主。所以读者读到Michael Jensen, Andrei Shleifer等人的理论时,甚至看不到一条方程式。这与投资学的高深数学推导简直形成了强烈对比。 
  
            
    国内最近颇为流行的公司治理就是探讨公司财务政策对股价的影响因此我们可以说公司治理的主要目的即在于追求公司价值极大化以保护中小股民。我的研究基本上属于公司财务和公司治理的范畴。 
  
            
    公司财务的实证检定与投资学不同。投资学的实证检定均是针对以数学推导之理论为主,数学结构性和逻辑性非常清楚,因此可以做成直接的检验。但公司财务的实证研究大部分是针对以逻辑推演之理论为主,结构性不清楚。因此,当我们想检定一个理论时,你所能收集到的公司实际资料基本上是不足的,因此我们只能做一个间接的检验,而做成直接检验的可能性不大。 
  
            
     由于公司财务的实证检验只是间接的检验,因此文字表达就相当的重要。你必须透过文字的表达将不足之资料所做成的统计结果变成一个有意义的结论。而这个结论必须对公司财务的理论模型具有相当的参考性,也就是你得把故事给说圆了。为了把故事说圆了因此国际一流的期刊对英文的要求就相当高甚至要求要达到文学化的水平否则审搞人可以因为英文不美而拒绝你的稿件。这是一个极为艰巨的任务,而特别不适合国人良好的数学逻辑思维(以及不足的英文文字表达思维)。因此公司财务领域有成就的中国人简直可以说是凤毛麟角。 

 楼主| 发表于 2009-3-5 16:18:00 | 显示全部楼层

转贴来自北美MBA

Professional Portfolio

Finance

Career Paths:  Financial Services Industry

·Investment Banking:  Investment banks underwrite (distribute securities issued by firms) and trade

financial instruments for both corporations and local governments, privately place securities and assist

corporations in mergers and acquisitions.  The main divisions of investment banking are:

·         Corporate Finance:  Provides corporations with mergers and acquisitions advice  and underwriting services; deals specifically with all types of corporate restructuring transactions and with capital markets, such as equities, bonds, derivatives etc. and with their issuance and initial pricing.

·         Institutional Sales and Trading:  Responsible for selling securities to institutional investors, where the securities are those underwritten by the bank or those bought and sold as part of the bank’s trading operation. 

·         Research:  A full service investment bank is also a serious research organization, providing sell-side research reports and buy/sell recommendations on a wide range of debt and equity securities.

 Career Paths:  Corporate Finance (Non-Financial Services Firms)

  1.  Within a corporation, Corporate Finance refers to two distinct areas, financial management and treasury functions. 
  2. Corporate Financial Analyst:  Working within a corporation, corporate finance deals with the analysis and valuation of both internally developed projects and external growth opportunities, including business development and mergers and acquisitions.
  3. Treasury Analyst:  Treasury functions include determining capital structure, raising capital in external markets and risk management. 

  1.  Within a corporation, Corporate Finance refers to two distinct areas, financial management and treasury functions. 
  2. Corporate Financial Analyst:  Working within a corporation, corporate finance deals with the analysis and valuation of both internally developed projects and external growth opportunities, including business development and mergers and acquisitions.
  3. Treasury Analyst:  Treasury functions include determining capital structure, raising capital in external markets and risk management. 

 Job Titles:Corporate Finance

  Financial Management

  • Business Development
  • Corporate Analyst
  • Corporate Accounting
  • Corporate Growth

Treasury

  • Treasury Staff
  • Planning & Budgeting Analyst
  • Long Range Planning & Investment Analyst

     

     

     

     

     

 

 

 

 

 


[此贴子已经被作者于2009/8/13 12:22:31编辑过]
发表于 2009-3-8 10:26:00 | 显示全部楼层

很受用,感谢LZ~~~

 楼主| 发表于 2009-3-12 21:47:00 | 显示全部楼层

-bu ke qi

发表于 2009-4-11 18:40:00 | 显示全部楼层

要做corporate finance需要什么条件呢

发表于 2009-8-4 23:55:00 | 显示全部楼层
还好阿 长了见识  不过CF在MASTER的Finance专业下的一个分支阿 如果出来做公司的 Accounting  那个和Accounting的MASTER有什么区别阿 两者相通咯??
发表于 2009-10-6 22:12:00 | 显示全部楼层
up
发表于 2010-3-10 13:40:39 | 显示全部楼层
谢谢~~我正在找呢,给我扫盲了
发表于 2010-5-8 03:03:04 | 显示全部楼层
非常感谢,扫盲了~~~
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