金融演講英文版

演講人：日期：金融演講英文版IntroductiontoFinanceFinancialMarketsandInstrumentsCorporateFinanceandInvestmentDecisionsRiskManagementinFinanceInternationalFinanceandGlobalizationInternationalFinancialCrisisandRegulation目錄01IntroductiontoFinanceFinanceplaysacriticalroleintheeconomybyfacilitatingtheflowoffundsfromsaverstoinvestorsandensuringtheeffectiveuseofscaleresourcesFinancereferstothemanagementofmoneyandotherassets,includingtheprocessesofinvestment,borrowing,lending,andriskmanagementItinvolvestheallocationofresourcesovertimeandacrossdifferenteconomicactivities,aimingtomaximizereturnsandminimizerisksDefinitionandOverviewofFinanceFinancefacilitieseconomicgrowthbyprovidingfundsforinvestmentinproductiveactivitiessuchasinfrastructure,education,andresearchItenablesindividualsandbusinessestomanagetheirrisksanduncertaintiesthroughinsurance,hedging,anddiversificationFinancealsocontributestoeconomicstabilitybyimprovingliquidityandfacilitatingpricediscoveryinfinancialmarketsImportanceofFinanceintheEconomyThescopeoffinanceencompassesawiderangeofactivities,includingbanking,investment,insurance,andriskmanagementFunctionsoffinanceincluderaisingcapital,allocatingresources,managingcashflow,andadvisingonmerchantsandacquisitionsFinancealsoinvolvesthedevelopmentandimplementationoffinancialpoliciesandstrategiestoachieveorganizationalgoalsandobjectivesScopeandFunctionsofFinance02FinancialMarketsandInstrumentsCapitalMarketsWherelongtermfundsareraisedthroughthesaleofsecuritieslikestocksandbondsShorttermfinancialmarketsforhighliquidassetssuchastreasurybills,commercialpaper,andcertificatesofdepositMarketswherethevalueofanassetisderivedfromthevalueofanotherassetorgroupofassets,suchasfuturesandoptionscontractsMarketswherecurrenciesaretradedagainsteachother,specificallyforhedgingpurposesorspecificationsMoneyMarketsDerivativesMarketsForeignExchangeMarketsTypesofFinancialMarketsDerivativesFinancialcontractswhosevalueisderivedfromtheperformanceofanunderlyingasset,suchasastock,bond,community,orcurrencyStocksRepresentownershipinacompanyandtitletheholdertoashareofthecompany'sprofitsBondsDebtsecuritiesthatobjectifytheissuertopayaspecificamountofinterestandprincipalatmaturityMutualFundsInvestmentvehiclesthatpoolmoneyfrommanyinvestorsandinvestinadiversifiedportfolioofsecuritiesFinancialInstrumentsandTheirUsesMarketParticipantsandTheirRollsIssuersEntitiesthatsellsecuritiestoraisecapitalfortheiroperationsorexpansionInvestorsIndividualsorinstitutionsthatbuysecuritiestoearnareturnontheirinvestmentIntermediariesEntitiesthatfacilitatethebuyingandsellingofsecurities,suchasbrokers,dealers,andexchangesRegulatorsGovernmentagenciesthatoverseethefinancialmarketstoensurefairness,transparency,andcompliancewithlawsandregulations03CorporateFinanceandInvestmentDecisionsCapitalBudgetingProcessInvestmentsestimatingthefuturecashflowsofapotentialinvestment,discountingthembacktothepresentvalue,andcomparingthistotheinitialinvestmentoutputInvestmentAdvisoryTechniquesIncludepaybackperiod,netpresentvalue(NPV),internalrateofreturn(IRR),andfeasibilityindextoevaluatetheattractionofaninvestmentprojectRiskAssessmentInvolvesidentifyingandquantifyingthepotentialrisksassociatedwithaninvestment,suchasmarketrisk,technicalrisk,andfinancialriskCapitalBudgetingandInvestmentAppraisalDebtFinancingCorporationscanraisefundsbyissuingbondsortakingoutloansfrombanksorotherfinancialinstitutionsInvestmentsissuingnewsharesofstocktoraisecapitalfrominvestorsCombinesdebtandequityfinancing,suchasthroughconvertiblebondsorpreferredstocksIncludeventurecapital,privateequity,andcrowdfundingplatformsthatconnectcorporationswithinvestorsEquityFinancingHybridFinancingAlternativeSourcesofFinanceSourcesofFinanceforCorporationsDividedPolicyDecisionsInvolvedeterminingtheamountandtimingofdividedpaymentstoshareholders,whichcanaffectthecompany'scashflow,investmentopportunities,andshareholdervalueDividedPolicyandShareholderValueTypesofDividedPoliciesIncluderegulardivide,stabledivide,soliddivide,andhybriddividepoliciesImpactonShareholderValueDividedpolicycanaffectshareholdervaluebyinfluencingthecompany'sabilitytoretainearningsforfuturegrowth,itscostofcapital,andthesignalsitsendstothemarketaboutitsfinancialhealthandprospectsShareholderExpectationsandPreferencesDividedpolicyshouldalsoconsidertheexpectationsandpreferencesofshareholders,whomaypreferregulardividendpaymentsorcapitalgainsfromsharepriceadmissionDividedPolicyandShareholderValue04RiskManagementinFinanceCreditRiskThelikelihoodoflossarisingfromaborrower'sfailuretorepayaloanormeetcontractualobligationsMarketRiskTheriskoflossesinpositionsarisingfrommovementsinmarketprices,suchasinterestrates,equityprices,andcurrencyexchangeratesOperationalRiskTheriskoflossresultingfrominadequateorfailedinternalprocesses,people,andsystems,orfromexternaleventsTypesandSourcesofFinancialRiskLiquidityRiskTheriskthataninstitutionwillnotbeabletomeetitsfinancialobligationsastheycomeduetoitdoesnothavesufficientcashfloworcannotacquireassetsquicklyenoughTypesandSourcesofFinancialRisk01AstatisticalmeasureofthemaximumpotentiallossthatcouldbeincurredoveraspecifiedperiodundernormalmarketconditionsValueatRisk(VaR)02Ananalyticalmethodusedtodeterminethepotentialimpactofunusualorextremeeventsonafinancialinstitution'sfinancialconditionsStressTesting03TheprocessofevaluatingpotentialoutcomesunderdifferentsetsofassessmentsorconditionstoassesstherangeofpossiblefutureeventsandtheirimpactScenarioAnalysis04QuantitativemeasuresusedtoassessandcomparetheriskofdifferentinvestmentsorportfoliosRiskMetricsRiskMeasurementandAssessmentTechniquesDiversionSpreadinginvestmentsacrossdifferentassetclasses,industries,andgeographytoreduceexposuretoanysingleriskfactorHidingTakinganoffsettingpositioninarelatedmarkettoprotectagainstpotentiallossesintheprimarymarketRiskMitigationStrategiesandToolsRiskManagementPoliciesandProceduresEstablishingclearguidelinesandcontrolsforidentifying,measuring,monitoring,andmanagingriskwithinanorganizationInsuranceTransferringtheriskofpotentiallossestoathirdparty(aninsurancecompany)inexchangeforapremiumpaymentRiskMitigationStrategiesandTools05InternationalFinanceandGlobalization010203FunctionsofForeignExchangeMarketsFacilitytheconversionofcurrencies,provideaplatformforhedgingcurrencyrisk,andenableinternationaltradeandinvestmentTypesofExchangeRatesFloatingexchangerates,fixedexchangerates,andmanagedfloatingexchangerates,eachwithitsowncharacteristicsandimpactsontheeconomyFactorsAffectingExchangeRatesEconomicfactorssuchasinflation,interestrates,andtradebalances,aswellaspoliticalandsocialfactorsForeignExchangeMarketsandRatesTypesofInternationalFinancialMarketsStockmarkets,bondmarkets,foreignexchangemarkets,andderivativemarkets,eachwithitsownuniquecharacteristicsandparticipantsInternationalFinancialInstrumentsStocks,bonds,currencies,andderivativessuchasfuturesandoptions,whichareusedbyinvestorstodiversifytheirportfoliosandhedgeagainstriskRegulationofInternationalFinancialMarketsTheroleofinternationalorganizationssuchastheInternationalMonetaryFund(IMF)andtheWorldBankinpromotingstabilityandtransparencyinglobalfinancialmarketsInternationalFinancialMarketsandInstrumentsGlobalizationandFinancialIntegrationTheincreasinginterconnectivityoffinancialmarketsaroundtheworld,drivenbyadvantagesintechnologyandregulationBenefitsofGlobalizationforFinanceGreateraccesstocapital,increasedefficiencyandcompetitioninfinancialmarkets,andtheabilitytodiversifyriskacrossawiderangeofassetsChallengesPositionedbyGlobalizationforFinanceIncreasedvulnerabilitytoglobaleconomicdownturns,currencyfluctuations,andpotentialforfinancialcontagionTheRoleofPolicymakersinManagingtheImpactofGlobalizationTheneedforcoordinatedpoliciestoaddressissuessuchascrossbordercapitalflows,financialstability,andregulatoryharmonizationImpactofGlobalizationonFinance06InternationalFinancialCrisisandRegulationCausesFinancialcrisescanbetriggeredbyarangeoffactors,includingexcessrisktakingbyfinancialinstitutions,assetpricebubbles,andmacroeconomicimbalancesThesefactorscanleadtoahiddenlossofc