Entrance for Studies in Finance Gooblog Edition
blog for business studies
http://blog.goo.ne.jp/fu12345
 



Philip Coggan, The Money Machine: How the City Works 5th edition: Penguin Books, 2002 

Bretton Woods 

Big Bang

The collapse of communism

The bubble economy/ cross-shareholding

Japan's apparent virtues  began to reveal as vices

companies did not worry about short term profit...led them to invest in unsuitable projects

absence of takeovers...no market discipline on poor companies to perform well

friendly relationship between banks and the corporate sector...banks were saddled with bad loans

deflationary trap 

Washington consensus 

The end of the Cold War

globalization

functions of money

1) measure of money 2)store of value

Gresham's law

monetarist school 

banks can create money; cash ratio

M1 is difined as notes  and coins in circulation with the public

M2 M1 plus M1 plus deposit accounts hel dwith the dposit banks

interest rates / price of money

compound plus simple

yield: a percentage of the price of the asset

yield to redemption

yield curve (positive,upward sloping ; negative, inverted,  downward sloping)

1)liquidity theory

2)expectations theory  

3)market segmentation theory

savings  income levels

companies

self financing

1)retained earnings

2)sell assets

3)replace old and worn out assets

equity

buying back shares

debt

overdraft

term loans

syndicated loans

equity convertible if the share priceof issuing companines falls sharply...they will have to find the money to repay the bond maturity

loan facilities

debentures

fixed rate bonds

price earnings  ratio;comparison of different companies

gearing

value companines(valuation), earning per share, P/E ratio, shorter payback period

sell share of high P/R ratio

asset - debt=net asset

buy share price lower than its net asset

EBITDA



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