TAILIEUCHUNG - Lecture Financial institutions, instruments and markets (7e): Chapter 6 – Viney, Phillips

Chapter 6 - Investors in the share market. The goals of this chapter are: Consider the role of an investor in the share market and appreciate the range of investment choices available to the investor; understand the process of buying and selling shares, the risks involved, and the importance of taxation when investing; describe indicators of financial performance; | Chapter 6 Investors in the share market Websites: Learning objectives Consider the role of an investor in the share market and appreciate the range of investment choices available to the investor Understand the process of buying and selling shares, the risks involved, and the importance of taxation when investing Describe indicators of financial performance Demonstrate share pricing methods Consider the importance of share-market indices and published share information Chapter organisation Share-market investment Buying and selling shares Taxation Financial performance indicators Pricing of shares Stock-market indices and published share information Summary Share-market investment Investors buy shares to receive returns from dividends and capital gains (losses) Other factors encouraging investment in securities quoted on a stock exchange (SX) Depth of the market Overall capitalisation of corporations listed on an SX Liquidity of the market Volume of trading relative to the size of the market Efficient price discovery Speed and efficiency with which new information is reflected in the current share price (cont.) Share-market investment (cont.) The SX offers a wide range of security types to the investor Securities listed on the SX are categorised into industry groups, allowing investors a choice from a range of economic sectors (cont.) Share-market investment (cont.) Two types of risk impact on security returns 1. Systematic risk Factors that generally impact on share prices in the market; . economic growth, and changes in interest rates and exchange rates 2. Unsystematic risk Factors that impact specifically on the share price of a corporation; . resignation of the CEO, technology failure, board problems (cont.) Share-market investment (cont.) Diversified investment portfolio A portfolio containing a wide range of securities Diversifies most of the unsystematic .

• Tài chính doanh nghiệp
• Financial institutions
• Financial Instruments
• Financial markets
• Financial system
• Stock exchange investment
• Selling shares
• Lecture Financial markets and institutions
• Financial institutions markets
• Risks at financial institutions
• Market risk
• Savings institutions
• Credit unions
• Commercial banks
• Financial statements
• Financial markets and institutions
• Interest rates change
• Financial institutions exist
• Central banking
• Capital markets
• Money markets
• Interest rate fundamentals
• Interest rates
• Security valuation
• Federal reserve system
• Monetary policy
• Money market yields
• Bond markets
• Municipal bonds
• Mortgage markets
• Primary mortgage market
• Stock markets
• Common stock
• Foreign exchange markets
• Foreign exchange
• Derivative securities markets
• Futures markets
• Commercial bank liabilities
• Regulation of commercial banks
• Deposit guarantee funds
• Insurance companies
• Life insurance companies
• Securities firms
• Investment banks
• Mutual funds
• Hedge funds
• Pension funds
• Private pension funds
• Managing credit risk
• Balance sheet
• Managing liquidity risk
• Managing interest rate risk
• Insolvency risk
• Managing risk
• Loan sales
• Managing risk off the balance sheet