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论文题目：CFM财务管理历年考试题
论文语种：英文
您的研究方向：金融
是否有数据处理要求：否
您的国家：英国
您的学校背景：40名
要求字数：每题完成最佳答案为好，若需提供字数450-500字左右
论文用途：硕士考试题目
是否需要盲审CFM财务管理（博士或硕士生有这个需要）：否
补充要求和说明：

2008年题目
1 (a)Discuss and demonstrate how corporate dividend policy can be used as a signaling device by firms in an attempt to distinguish themselves from less successful firms.  
(b) critically discuss the substitution explanation of La Port art al(2000) regarding the relationship between firm’s growth opportunities and their dividend payouts.    
2 (a)critically assess the role of internal corporate governance mechanisms in dealing with the agency problem arising from the separate of ownership and control. 
(b) discuss carefully the main theoretical explanations for the observed underpricing of IPOs.
2009年题目
1(a)discuss the circumstances under which agency conflicts arise with corporations. (9 marks)
(b) briefly explain https://www.51lunwen.org/Accounting/ what you understand by the separation of ownership and control. Discuss the main corporate governance mechanisms to deal with the agency problem arising from the separation of ownership and control 
(c) it is argued that presence of better shareholder protection and higher cash flow ownership(i.e. equity ownership) by controllers are associated with less expropriation of minority shareholders by controllers. Discuss.
2(a) explain the Bankruptcy Cost/Tax Shield Trade-off Theory of capital structure and assess its ability to explain the observed capital structure regularities 
(b) explain the proposition that costly bankruptcy will require higher rates of returns to shareholders
(c) how does dividend policy affect the type of shareholders that are attracted to hold a firm’s shares
(d)using the Adjusted Present Value(APV) method, discuss the ways in which a levered firm incorporates the costs and benefits associated with leverage into its capital budgeting decisions?
2010年题目
1（a）what are the main agency conflicts that may arise with corporations between shareholders and debtholders?
(b)discuss the main corporate governance mechanisms that are available to corporations to deal with the costly agency conflicts between managers and shareholders
3 (a)what do you understand from the underpricing of initial public offerings (IPOS)?why is the underpricing of IPOs said to be puzzling?
3(a)what is the different between a real option and a financial option?
(b)what determines the value of a real option?
(c) describe the benefits and costs of delaying an investment opportunity
(d) discuss the relevance of real options for the capital budgeting decision
(e) describe how you would compute the value of an option to delay an investment opportunity