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Chapter 8 - Overview of equity securities. This reading provides an overview of equity securities and their different features and establishes the background required to analyze and value equity securities in a global context. | Chapter 8 Overview of Equity Securities Presenter Venue Date This reading provides an overview of equity securities and their different features and establishes the background required to analyze and value equity securities in a global context. Section 2 provides an overview of global equity markets and their historical performance. Section 3 examines the different types and characteristics of equity securities, and Section 4 outlines the differences between public and private equity securities. Section 5 provides an overview of the various types of equity securities listed and traded in global markets. Section 6 discusses the risk and return characteristics of equity securities. Section 7 examines the role of equity securities in creating company value and the relationship between a company’s cost of equity, its return on equity, and investors’ required rate of return. Section 8 concludes and summarizes the reading. DISCLAIMER: Candidates should understand this presentation is NOT | Chapter 8 Overview of Equity Securities Presenter Venue Date This reading provides an overview of equity securities and their different features and establishes the background required to analyze and value equity securities in a global context. Section 2 provides an overview of global equity markets and their historical performance. Section 3 examines the different types and characteristics of equity securities, and Section 4 outlines the differences between public and private equity securities. Section 5 provides an overview of the various types of equity securities listed and traded in global markets. Section 6 discusses the risk and return characteristics of equity securities. Section 7 examines the role of equity securities in creating company value and the relationship between a company’s cost of equity, its return on equity, and investors’ required rate of return. Section 8 concludes and summarizes the reading. DISCLAIMER: Candidates should understand this presentation is NOT a substitute for a thorough understanding of the CFA Program curriculum. This presentation is NOT necessarily a reflection of all of the knowledge and skills needed for candidates to successfully complete questions regarding this topic area on the CFA exam. 1 EXHIBIT 8-1 Country and Regional Contributions to Global GDP and Equity Market Capitalization (2007) Source: MacroMavens, IMF World Economic Outlook 2008, Standard & Poor’s BMI Global Index weights. LOS: Discuss the importance and relative performance of equity securities in global financial markets. Pages 332-334 Exhibit 8-1 illustrates the significant value that investors attach to publicly traded equities relative to the sum of goods and services produced globally every year. It shows the continued significance, and the potential over-representation, of U.S. equity markets relative to their contribution to global GDP. That is, while U.S. equity markets contribute around 43 percent to the total capitalization of global equity .
