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Financial Management Didi Sundiman sundiman.didi@gmail didi.unda.ac.id

Financial Management Didi Sundiman sundiman.didi@gmail.com didi.unda.ac.id Hp . 081250832204. Chapter 2 : Financial Markets and Institutions. OBJECTIVES. Identify types of financial markets & institutions and Different types of stock markets.

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Financial Management Didi Sundiman sundiman.didi@gmail didi.unda.ac.id

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  1. Financial Management Didi Sundiman sundiman.didi@gmail.com didi.unda.ac.id Hp. 081250832204

  2. Chapter 2: Financial Markets and Institutions

  3. OBJECTIVES • Identify typesof financial markets & institutions and • Differenttypes of stock markets. • Explain how the stock market has performed in recent years. • why some markets are more efficient than others.

  4. THE CAPITAL ALLOCATION PROCESS

  5. CLASSIFY MARKETS • Physical asset markets versus financial asset markets • Spotmarkets versus futuresmarkets. • Money markets versus capital markets. • Primary markets versus secondary markets. • Private markets versus public markets.

  6. FINANCIAL INSTITUTIONS • Investment banks • Commercial banks • Others …p.59

  7. THE STOCK MARKET • the most active secondary market—and the most important • Physical location exchanges, NYSE, the American Stock Exchange (AMEX) • electronic dealer-based markets, which include the Nasdaq

  8. THE MARKET FOR COMMON STOCK • Outstanding shares of established : the secondary market. • Additionalsharessold • Initial public offerings

  9. STOCK MARKETS AND RETURNS • expected and realized • Stock MarketReporting: The Wall Street Journal • Stock MarketReturns, next

  10. STOCK MARKET EFFICIENCY • Market price • Intrinsicvalue • Equilibriumprice • Efficient market

  11. STOCK MARKET EFFICIENCY

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