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Underwriters

2006

(return on
total assets)


,
.

1. ,
. 2.
( swaps)
,

. 3.
.


.
-
.

.


,


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.
, ,
, ,
,
.

,

.



- , , -

,
.


,
, /

.
,
.
,

.

()

().

,

, .

(Capital
employed)

(property inventory)


,


,
.

(yield)

,
%,
.
, , ,
.

/

(return on equity /return on investment)


.

.


.

.




.

(yield to
maturity)



.

.

(attributable profit)

(investment

turnover)

(capital
effectiveness)


.


( , ).



.



.

.

()

().

(reserves)




.
.

(valuation reserve)


,



,

.

(amortization)


()

(, , ,
.) .

.

(consistency concept)

(going
concern basis)



.
.
,

.
(prudence concept)





.
,




.



(

).


(
/ )
(
) (
)
.


(secret reserves)



.

( ) .


,
.

.
,


,

.
(dormat
partnership)


,

,
( ),
.
.

Bed and breakfasting

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.
,


.

Black-Scholes
model)

(Black-Scholes

.
,
, ,
, ,
. Fisher
Black, Myron Scholes, Robert Merton 1973.

, .

Blue chips

blue chip

,
,

,
.

(note)

,
() ,
,
().

(capital expenditure)

,

,

(accrued charge)

(
).
(acid-test
ratio/ liquid ratio)

(return on
assets ROA)

()
(current ratio)




.

.


.




.

. ,


.

2: 1.



-return On Assets (ROA)

(fundamental
analysis).

12 ,
.
.

-return On

(fundamental
Equity (ROE)
analysis).

12 ,
. .

ROE,

.


.
(turnover ratio)
,
6


.
(capitalization
ratio)

(working
capital ratio)



,
( )
(
).



.



.

/
.
(price-Cash flow Ratio (P/CF))


(CV),

.

,
,
P/E & P/BV.
/ (Price-Earnings , /,

Ratio (P/E)) (PE ratio)

.


.
/
/


.
(solvency)

,

.


(market capitalization ratio)

.
,
.
7


.



, .

(Price / Book ,

Value)
.

.
(asset structure)

(portfolio
management)


,

.

(pre-emption
rights)

,


.

(right)

,


.




.

.

(bonus shares)


.
(
).

(quoted shares)


(capitalization issue)

.
.


.
(holding company)

,

.

(assets)


,
, , , , ,

.

. :
) Fixed assets = .


.
: ) tangible fixed assets:
,
, , ,
,
) intangible fixed assets:

, ,
.
) Current assets =
, ,
.

.

(consolidated
balance sheet)

) on-current assets =


.

,

.

(fixed assets)

,
, , ,

(takeover)

(offshore financial centers)

,


.

(capital adequacy)

To


.


()
()

().


.



.

(capitalization
rate)


(Discount rate).

,
,
,
.


,


,
.

(capital losses)

.


,
,
3.000.000 , ,

17.608.217,17

10

.
(offshore companies).
(subsidiary company)


,
.

(equity)



.

(
)


.

,
,
, ,

. (common
equity)

. (total
equity)
. (net worth)

(balance sheet)



,

.

(assets) (liabilities)
.
.

(net fixed assets)

,
.

(,
)
.

(net asset value per


share)

,

,
.

11

(net profit)

(net dividend)

(paid up
capital)

(balloon payment)

.

.


(profit and loss account)



, ,
.

(earnings per shareEPS)

.
12, .

.



.
.
( )
.
.

(capital profits)

(capital markets)
(capital expenditure)
(capital structure)

(capital gain)



.


.
.

,
(
,

).

(financial structure)

.

12

(capital ratio)

(capital)
(principal)

.


.
(

),
,
,
.

.

(working

capital)
.

.

(capitalization)

1.

,
.
2.
,

.


.

.

,
.

(position risk)


(inflation risk)



(, , ),
/
.
O
.

,

.

13

(ordinary shares)

,
.
,
,

.

,
,


.


.



,
.

LIFO (Last In First Out)



,

.
FIFO.

receivable)

(accounts ,
.

payable)

(accounts .

(book value)

1.

.
,

.
2.
,

.
3.
.

(
14

), .

.

(matching concept)

,
,

365 .

(historical
accounting)

,


. ,
,
,

,
.

.

(current cost
accounting)


.


.


.


.

Markowitz model


.
,



.
Markowitz,

(minority
shareholders)


(
).


.

15


.




.
(stock
dividend)


.
.

.

(stocks)


.
,
,
,
, ,





.
.
,
, ,
,
,
.



.
.
.



.


.

- (stock
capital)

-

.
,

16

.
(gross profit)

T ,
.
.

(gross dividend)

(break
.
even point)



.
,

.

(Money laundering)

(Blanchiment de l argent)
(
, )


.


.

(fixed rate
bonds)

(mortgage
debenture)


,


(
).

(debentures)

,
.

, ,

.

.

.

,
,
17



(,
, , ).

.

(par value)


. 100% .

.

(nominal value
of a share)


.

.


.

.


.

(nominal rate)

1. .
. 2.
,


. Face
Value.



.


, .
,

18



.



.

(nominal / authorized share
capital)


,
.

.
(
)
.

.

(revenue expenditure)

(materiality)

(liabilities)



.

.

(present Value PV)



.
1.

.

.
2. H

.

(provision)


,

.
,
( )

19

.

(discounting of accounts receivable)


.

(assigning) (pledging)
.

(preference shares)


.

.
,


(
).

,

,

.


(deferred shares)

.

.


.


,
(..,
)
.

,

.

.

. ,
, ,
.


(capital budgeting)


,

.
, ,

(cash

20

flow budget)



..




.

(liquidity)



.
,
, ,
.

(fixed charges)

,
.

(share premium)


.

,

.




, .

(associated
companies)


20%
,

.

(group
accounts)


,

.

(prudent

man investing)
,

.
.
,

.

21

,


.
(beta)


()

.

< 1

> 1


.

(articles of association)



,
,

(memorandum of
Association)

.
,

.

(portfolio
scheduling)

H
,

.

(capital
reserve)


,
.

,

.

( ).

/
(cash flow)



22


.
(current
liabilities)


.
.

(offshore)

,


.
,

.
, ,
, British Virgin Islands ...



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. ,

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.


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.
First In, First Out (
, ).
,

. (


,

).

(capital
appreciation)
(depreciation)

FIFO
(FIFO)

23

LIFO.
(goodwill)

(capital
gain taxation CGT)



.

,

,

, .


.
& ,


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.
O

(portfolio)

, ,
,
,
.

(market
capitalization)



.


,
.

:
www.dpmlab.aueb.gr
www.ase.gr
. : , ,
(. )
:
. : (. )

24

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