Market value: observed value of an asset in the marketplace determined by supply and demand. Liquidation value: amount that could be received if an asset were sold individually. Describes repayment provisions.ġ3 Value Book value: value of an asset as shown on a firm’s balance sheet historical cost. Lists restrictive provisions which are designed to protect bondholders. Lists all of the bond’s features: coupon, par value, maturity, etc. To avoid SEC regulations.ġ2 The Bond Indenture The bond contract between the firm and the trustee representing the bondholders. Why do this? If borrowing rates are lower in France.
denominated bonds trading in a foreign country. example - suppose Disney decides to sell $1,000 bonds in France.
Why do this?ġ1 Types of Bonds Eurobonds - bonds denominated in one currency and sold in another country. (Borrowing overseas.) example - suppose Disney decides to sell $1,000 bonds in France. High-yield bonds.ġ0 Types of Bonds Eurobonds - bonds denominated in one currency and sold in another country. Junk bonds - speculative or below-investment grade bonds rated BB and below. Zeros - bonds that pay only par value at maturity no coupons. Subordinated debentures - unsecured “junior” debt. … $ $ $ $ $ $32.50+$1000ĩ Types of Bonds Debentures - unsecured bonds. Issued by AT&T.Ĩ Example: AT&T 6 ½ 32 Par value = $1,000Ĭoupon = 6.5% or par value per year, or $65 per year ($32.50 every six months). n $I $I $I $I $I $I+$Mħ Example: AT&T 6 ½ 32 Par value = $1,000Ĭoupon = 6.5% or par value per year, or $65 per year ($32.50 every six months).
Karakteristik saham biasa Menilai saham biasa Menghitung tingkat imbal hasil yang diharapkan pemegang sahamīonds pay fixed coupon (interest) payments at fixed intervals (usually every six months) and pay the par value at maturity. Menguraikan karakterisitik dan ciri saham preferen Menghitung nilai saham preferen Menjelaskan karakteristik dan ciri saham biasa Menghitung nilai saham biasa Menghitung tingkat imbal hasil yang diharapkan dari sahamĥ Pokok Bahasan 2 Jenis dan ciri saham preferen Me nilai saham preferen Terminologi dan karakterisitik obligasi Definisi nilai Penentu nilai Proses dasar penilaian Penilaian obligasi Yield to maturity Lima hubungan penting pada penilaian obligasiĤ Tujuan Pembelajaran 2 Mahasiswa mampu untuk: Membedakan berbagai jenis obligasi dan menjelaskan beberapa karakteristik obligasi yang populer Menjelaskan definisi nilai untuk berbagai penggunaan Menjelaskan faktor-faktor yang menentukan nilai Menjelaskan proses dasar penilaian aset Menghitung nilai obligasi dan yield to maturity Menjelaskan lima hubungan penting pada penilaian obligasi Chapter 7 - Valuation and Characteristics of Bonds Chapter 8 - Stock ValuationĢ Tujuan Pembelajaran 1 Mahasiswa mampu untuk:
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