SEMINAR
MANAJEMEN KEUANGAN
Prof Dr Hj.Sulastri ME,MKom
Fakultas Ekonomi UNSRI
Corporate Finance
The Objective Function
Maximize the value of the firm
Basic Corporate Financial Decisions
1. How do you allocate scarce resources across competing uses?
2. How do you rise funds to finance these projects
3. How much do you reinvest back into the business and how much do you
return to your stockholders ?
The Corporate Financial Toolbox
Accounting
Statement and Ratio
Present Value
Source : Damodaran, 1997
Risk and Return
Models
Option Pricing Model
FINANCIAL MANAGEMENT
Finance is concerned with determining value
FINANCIAL DECISIONS
MANAGERIAL DECISIONS
INVESTMENT DECISIONS
FINANCING DICISIONS
FINANCIAL FUNCTIONS
Allocation of Funds
Raising of Funds
Kegiatan Manajer Keuangan
Keputusan
Investasi
2
Aktiva
Perusahaan
3
Keputusan
Pendanaan
1
Manajer
Keuangan
4b
4a
Kebijakan
Deviden
Pasar
Keuangan
Lingkup “Finance”
Corporate
financial
Management
Investments
Financial market
and intermediaries
Careers in Corporate Financial
Management
Entry-Level Position
Financial Analyst
Credit Analyst
Cash Manager
More Senior Positions
Assistant Treasurer
Manager of Corporate
Financial Analysis
Corporate Risk Manager
Pension fund Manager
Director of Financial Reporting
Very Senior Position
Chief Financial Officer
Treasures
Controller
Vice President of
Corporate
Development
Careers in Invesments
Entry Level Positions
Security Analyst
Personal Financial Planner
More Senior Positions
Pension Fund Manager
Portofolio Manager
Very Senior Positions
(Sama dengan karir pada Corporate
Financial Mgt)
Financial Markets and
Intermediaries
Entry Level Positions
Corporate Finance Associate
Lending Officer
Debt Rating Analyst
Securities Trader
Stock Broker
Life Insurance Sales Person
Mortage Broker
More Senior Position
Branch Manager
Very Senior Positions
(Sama dengan karir
pada Corporate
Financial Mgt)
The Science Of Finance
Finance is Science
It has Fundamental Concept, Principles and Theories
Tools of Science is called Model
Models of Financial Evolution
The Investment-Vehicle Model
The Accounting Model of the Firm
The set-of-contract model of the firm
The Investment Vehicle Model
Exchanges
of Money
The
World
And real
assets
Three main
areas of
finance
THE FIRM
The
firm’s
Invesment
Decisions
The
firm’s
financing
Decisions
Corporate Financial
Management
FINANCIAL
MARKETS
INVESTORS
FINANCIAL
INTERMEDIARIES
Financial
Investments
Market &
Intermediaries
The Accounting Model Of The
Firm
The Investment decision
Cash
Marketable Securities
Account Receivables
Inventory
Current Assets
The Financing Decision
Account payable
Curent Debt
Current liabilities
Net
working
Capital
= Difference between current
assets and current liabilities
Long-term bank dept
Bonds
Long-term liabilities
Tangible fixed assets
Intangile fixed assets
Total fixed assets
Totals Assets
Shortterm
=
Common stock
Retained earning
Stockholder’s equaty
Liabilities +
Stockholder’s Equity
Longterm
The set of- contracts model of
the firm
Bondholders
Banks
Customers
Employees
Governments
Environment
FIRM
Preferred
stockholders
Commond
stockholders
Communities
Society
Suppliers
Managers
Shortterm
creditors
The Evolution Of Finance
Contemporary Trends
Globalization
Computerization and Telecomunication
Corporate Reorganization and Restructuring
Financial Principles