• The Euro
what is expected with the Euro:
will increase internal trade (no more transaction costs)
will relieve most major central banks that have to pay high interest rates to attract financial investors
will increase European competiveness by making the USD increaseMaastricht convergence criterias: inflation/debt/deficit/interest rates
12 countries (Great-Britain, Sweden, and Denmark are out)• Currencies in Central and Eastern Europe in the 2000’s: 4 systems:
- float: Czech crown
- crawling peg: zloty, forint
- pegged rate: Slovakia
- currency board: Bulgaria, Estonia, BosniaAccording to the systems, different incidences on exports/imports, restructuration (ex of the French competitive desinflation), devaluation According to the Big Mac Index: most currencies in CEE countries are undervalued
Corporate financing decisions >>
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Corporate finance
The subject: corporate finance
PART ONE: CAPITAL EXPENDITURE
The present value
Investment
decisions
Practical
problems in capital budgeting
Firms evaluation
PART TWO. BASICS OF FINANCE
The financial
markets
Options
The market
efficiency
Risk
Mergers,
Acquisitions, and Corporate Control
International
Financial Management
PART THREE FINANCING DECISIONS
Corporate
financing
Dividend policy
and capital structure
PART FOUR FINANCIAL MANAGEMENT
Financial
planning
Short-term
financial management
Courses created and updated by Dr David Chelly, PhD in Management sciences from the University of Tours.
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