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PEMBELANJAAN PEMBELANJAAN PERUSAHAANPERUSAHAAN

PEMBELANJAAN PEMBELANJAAN PERUSAHAANPERUSAHAAN

LECTURE 1 - LECTURE 1 - INTRODUCTIONINTRODUCTION

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The Goal of the FirmThe Goal of the Firm

Better defined than profitsBetter defined than profitsConsiders timing of profitsConsiders timing of profitsConsiders risk differences between Considers risk differences between alternative courses of action.alternative courses of action.

“Maximize Shareholder Wealth”

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Three Types of Three Types of DecisionsDecisions

Investment DecisionsInvestment Decisions What assets should the firm invest in?What assets should the firm invest in?

Financing DecisionFinancing Decision How should the purchase of assets be financed?How should the purchase of assets be financed?

Managerial DecisionsManagerial Decisions How large should the firm be?How large should the firm be? How fast should it grow?How fast should it grow? Should the firm grant credit to a customer?Should the firm grant credit to a customer? How should the managers be compensated?How should the managers be compensated?

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PP/MB-IPB/10

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