Topic2IntroductiontoFinancialManagement（2）NewsinMediawisdomMiniCasebackgroundOverview2.1typesofbusinessorganization2.1.1soloproprietorship2.1.2Partnership2.1.3corporation2.2corporatestructureofthecompany2.2.1——2.2.4Ps：2.3objectiveoffinancialmanagementps：利润表与资产负债表勾稽关系2.3.1&2.3.2利益相关者理论&（公司）价值最大化2.3.1&2.3.2利益相关者理论&（公司）价值最大化（续）涉及1.73亿违规抵押担保背信损害上市公司利益违规披露或不披露重要信息Ps：搭便车freeridingJ：中国是目前伊拉克最大的能源投资者，你是否想对中国说，中国应该成为一个“利益相关者”，而不是“搭便车”的时候了。O：我确实是这么说的。他们确实在搭便车，并且已经打了30年了，一直没什么问题。我有时候会调侃，当我收件箱堆满了邮件，我说，我们就不能学学中国吗？出事时没人指望他们做任何事情。也正因为这个原因，人们总是看着美国，而不是中国。从很多方面来说这对美国是一种劣势，但也是一种优势，是我们不一样的原因。我很高兴自己是美利坚合众国的总统。2.5agencyrelationship2.5.1whatisagencyproblem激励监督成本管理者的非货币性消费代理人和委托人目标不一致导致实际收益少于潜在收益的损失2.5.3practicalsolutionstotheagencyproblemCoreWordandExpressionsThinkingandExplorationThinkingandExplorationTranslationThankYou!Stockmarketinvestmentgivesyoutheuniqueopportunitytotakeadirectpartinthegrowthandsuccessofcompanies.Whenyoubuysharesinacompany,itmeansthatyouactuallyownaportionofthatcompany.Aspartowner,youbenefitbyreceivingpartoftheprofitsordividendsandsharinginthegrowthofthevalueofthecompany.Thecompanybenefitsbyraisingfundsorcapitalwhenyoursharesandothersharesarefirstsold.Thesefundsareusedtooperateandexpandthebusiness.Ingeneral,shareinvestmentsproducebetterreturnsthanfixedinterestinvestments,particularlywhenmoneyisinvestedlongterm.Althoughtherearerisesandfallsinthestockmarket,historyshowsthatoverthelongterm,thevalueofthestockmarketrises.IntheUS,whichhasalonghistoryofderegulatedstockmarket,theaveragerealreturnperannumafterinflationisapproximately10%.Directinvestmentinthestockmarketalsogivesyoucontroloverwhereyouputyourmoney.Youdecidewhichcompaniesyouwanttoinvestinandwhenthetimeisrightforyoutoseeyourshares.Ifyouwanttobeincontrol,stockmarketinvestmentisagoodoption.Anotherattractivefeatureofstockmarketinvestmentistheflexibilitytochangeyourinvestmentswhenyourpersonalcircumstanceschange.Forexample,ifyouneedmoneyforawell-earnedbreak,anextensiononourhouseoryourchildren'seducation,allyo