๋ณธ๋ฌธ ๋ฐ”๋กœ๊ฐ€๊ธฐ

๋ถ„๋ฅ˜ ์ „์ฒด๋ณด๊ธฐ

(116)
[์žฌ๋ฌด๊ด€๋ฆฌ] CH6. The Basics of Capital Budgeting [The basics of Capital Budgeting] fixed assets : ๊ณ ์ •์ž์‚ฐ Normal Project : ์ญ‰ ์ฆ๊ฐ€ ์ญ‰ ๊ฐ์†Œ Nonnormal Project : ์™”๋‹ค๊ฐ”๋‹ค independent -> P(A)P(B) = P(A๊ตB) : ๋‘˜ ๋‹ค ์ƒ๊ด€์—†์ด ์‹คํ–‰ ๊ฐ€๋Šฅ mutual exclusive -> P(A๊ตB) = 0 : ๋‘˜ ์ค‘ ํ•˜๋‚˜๋งŒ ์‹คํ–‰ ๊ฐ€๋Šฅ 1. Payback Period : ์ฒซ investment๋ฅผ ์–ผ๋งˆ๋งŒ์— recoverํ•  ์ˆ˜ ์žˆ์„์ง€ [์žฅ์ ] - project์˜ risk ์™€ liquidity์— ๋Œ€ํ•œ ์ธ์‚ฌ์ดํŠธ ์คŒ - ๊ตฌํ•˜๊ธฐ ์‰ฌ์›€ [๋‹จ์ ] - Time Value ๋ฌด์‹œ - Payback ์ดํ›„ CF ์–ด์ผ€๋˜๋Š”์ง€ ๋ฌด์‹œ 2. Discounted Payback - Payback ๊ตฌํ•  ๋•Œ ๋ชจ๋“  CF..
[์žฌ๋ฌด๊ด€๋ฆฌ] CH5. Cost of Capital cost of capital = rasing fund Capital Budgeting Overview Capital budgeting(์ž๋ณธ ์˜ˆ์‚ฐ ์ฑ…์ •)์€ ์‹ค์ œ ์ž์‚ฐ ํˆฌ์ž ๊ฒฐ์ •์„ ์œ„ํ•œ ํ‰๊ฐ€ ๊ธฐ๋ฒ•๋“ค์„ ๋งํ•œ๋‹ค Capital Budgeting Steps ์ œ์•ˆ๋œ ์‹ค๋ฌผ์ž์‚ฐ ํˆฌ์ž์— ๋Œ€ํ•œ ๋ฏธ๋ž˜์˜ cash flows ์ถ”์ • ๊ธฐ์—…์˜ optimal capital structure ์„ ๊ธฐ๋ฐ˜์œผ๋กœ ํ•œ cost of capital ์ถ”์ • ์ œ์•ˆ๋œ ํˆฌ์ž๋ฅผ ๋ฐ›์„์ง€ ๊ฑฐ์ ˆํ• ์ง€ ๊ฒฐ์ •ํ•˜๊ธฐ ์œ„ํ•ด cost of capital์„ ๊ธฐ๋ฐ˜์œผ๋กœ ํ•˜๋Š” decision-making valuation technique์„ ์‚ฌ์šฉ ์ด๋Ÿฐ ๋ฐฉ๋ฒ•๋„ ์žˆ๋‹ค ํ”„๋กœ์ ํŠธ์˜ expected return์ด ํ”„๋กœ์ ํŠธ ๊ตฌ๋งค ์ž๊ธˆ์œผ๋กœ ์‚ฌ์šฉ๋˜๋Š” cost of the funds์™€ ๋น„๊ตํ–ˆ์„ ๋•Œ p..
[์žฌ๋ฌด๊ด€๋ฆฌ] CH4. Bonds and Their Valuation 1. Bond๋ž€? Bond๋Š” ์šฐ๋ฆฌ๋ง๋กœ ์ฑ„๊ถŒ์„ ์˜๋ฏธํ•œ๋‹ค. ์ •๋ถ€๋‚˜ ํšŒ์‚ฌ ๋“ฑ์ด ์ž๊ธˆ์กฐ๋‹ฌ์„ ์œ„ํ•ด ๋ฐœํ–‰ํ•˜๋ฉฐ, ์›๊ธˆ๊ณผ ์ด์ž๋ฅผ ์ •ํ•ด์ง„ ๋‚ ์งœ์— holders of the bond์—๊ฒŒ ์ง€๋ถˆํ•˜๊ธฐ๋กœ ์•ฝ์†๋œ a long-term debt instrument ์ด๋‹ค. bond์™€ ๊ด€๋ จ๋œ ์šฉ์–ด๋Š” ๋‹ค์Œ๊ณผ ๊ฐ™๋‹ค. Par Value (์•ก๋ฉด๊ฐ€์•ก : ๋ฐœํ–‰์ธ์ด ๋งŒ๊ธฐ์‹œ์— ์ง€๊ธ‰ํ•ด์•ผ ํ•˜๋Š” ๊ธˆ์•ก) Coupon Interest Rate (์•ก๋ฉด ์ด์ž์œจ : ์ฑ„๊ถŒ์•ก๋ฉด์ƒ์— ํ‘œ์‹œ๋˜์–ด ์žˆ๋Š” ์ด์ž์œจ) Coupon ($) = Coupon Rate * Par Value Maturity Date : when the par value is repaid (๋งŒ๊ธฐ์ผ : ์•ก๋ฉด๊ฐ€์•ก์„ ์ง€๋ถˆํ•ด์•ผ ํ•˜๋Š” ๋‚ ) Special Features Call provisions : ์ฑ„๊ถŒ ๊ตฌ๋งค ๊ณ„์•ฝ..
[์šด์˜์ฒด์ œ] CH4. CPU Scheduling 1. Basic Concepts Multiprogramming : ์ปดํ“จํ„ฐ์˜ CPU์—์„œ ๋™์‹œ์— ์—ฌ๋Ÿฌ ํ”„๋กœ๊ทธ๋žจ์„ ์‹คํ–‰ํ•˜๋Š” ๊ธฐ์ˆ  multiprogramming์˜ ๋ชฉ์ ์€ CPU utilization์˜ ๊ทน๋Œ€ํ™”์ž„ process๋Š” CPU execution ์ฃผ๊ธฐ์™€ I/O wain ์œผ๋กœ ๊ตฌ์„ฑ๋จ. ์ฆ‰, ํ”„๋กœ์„ธ์Šค๊ฐ€ ์ผ์ • ์‹œ๊ฐ„ ๋™์•ˆ CPU์—์„œ ์‹คํ–‰๋œ ๋‹ค์Œ, ๊ณ„์† ์‹คํ–‰๋˜๊ธฐ ์ „์— I/O ์ž‘์—…์ด ์™„๋ฃŒ๋  ๋•Œ๊นŒ์ง€ ๊ธฐ๋‹ค๋ฆผ. CPU Burst distribution์€ 1) ์งง๊ณ  ๋งŽ์€ cpu burst ์™€ 2) ๊ธธ๊ณ  ์ ์€ cpu burst ๊ฐ€ ์žˆ๋Š”๋ฐ, I/O Bound program์€ ์งง๊ณ  ๋งŽ์€ cpu burst๋ฅผ ๊ฐ€์ง€๋ฉฐ CPU-Bound program์€ ๊ธธ๊ณ  ์ ์€ cpu burst๋ฅผ ๊ฐ€์ง distribution์—์„œ ์™ผ์ชฝ์€ burst du..
[์šด์˜์ฒด์ œ] CH3. Threads & Concurrency 0. Overview 1) Thread๋ž€ : A basic unit of CPU utilization - thread ID, a program counter (PC), a register set, and a stack ์œผ๋กœ ๊ตฌ์„ฑ๋จ - ๊ฐ™์€ process์˜ ๋‹ค๋ฅธ ์“ฐ๋ ˆ๋“œ์™€ code section, data section, and other operating-system resources ๊ณต์œ ํ•จ 2) Single / Multithreaded Processes ๊ฒฝ์šฐ์— ๋”ฐ๋ผ ๋‹จ์ผ ์‘์šฉ ํ”„๋กœ๊ทธ๋žจ์ด ์—ฌ๋Ÿฌ ๊ฐœ์˜ ์œ ์‚ฌํ•œ ์ž‘์—…์„ ์ˆ˜ํ–‰ํ•ด์•ผ ํ•  ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค. ์˜ˆ๋ฅผ ๋“ค์–ด, ์›น ์„œ๋ฒ„๋Š” ์›น ํŽ˜์ด์ง€, ์ด๋ฏธ์ง€, ์†Œ๋ฆฌ ๋“ฑ์— ๋Œ€ํ•œ ์š”์ฒญ์„ ์ˆ˜๋ฝํ•ด์•ผ ํ•  ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค. ์ด๋Ÿฌํ•œ ์š”์ฒญ์„ ์ฒ˜๋ฆฌํ•˜๋Š” ํ•œ ๊ฐ€์ง€ ํ•ด๊ฒฐ ๋ฐฉ๋ฒ•์€ ์„œ๋ฒ„๋ฅผ ํด๋ผ์ด์–ธํŠธ ์š”์ฒญ์„ ์ˆ˜๋ฝ..
[์žฌ๋ฌด๊ด€๋ฆฌ] CH3. Risk and Rates of Return 1. What is Risk? Risk : an uncertain outcome or a chance of an adverse outcome ์–ด๋–ค ๋ถˆํ™•์‹คํ•œ ๊ฒฐ๊ณผ๋‚˜ ์•ˆ์ข‹์€ ๊ฒฐ๊ณผ์— ๋Œ€ํ•œ ๊ฐ€๋Šฅ์„ฑ์ด ์žˆ๋Š” ๊ฒƒ low or negative actual return์„ ์–ป์„ ๊ฐ€๋Šฅ์„ฑ๊ณผ ์—ฐ๊ด€๋˜์–ด ์žˆ๋‹ค. ๊ทธ๋Ÿด ๊ฐ€๋Šฅ์„ฑ์ด ํฌ๋ฉด ํด ์ˆ˜๋ก ํˆฌ์ž๊ฐ€ ๋” risky ํ•ด์ง Probability distribution : ๋ชจ๋“  ๊ฐ€๋Šฅ์„ฑ์„ ์ „๋ถ€ ๋‚˜์—ดํ•ด๋†“๊ณ , ๊ฐ๊ฐ์˜ ๋ฐœ์ƒ ํ™•๋ฅ ์„ ๋‚˜ํƒ€๋‚ธ ๊ทธ๋ž˜ํ”„ ์œ„ ๊ทธ๋ž˜ํ”„์˜ ๊ฒฝ์šฐ expected rate of return, ์‰ฝ๊ฒŒ ๋งํ•ด ๊ธฐ๋Œ“๊ฐ’(ํ‰๊ท )์ด 15์ด๋ฉฐ, Firm X๋ณด๋‹ค Firm Y๊ฐ€ ๋” ๋„“๊ฒŒ ํผ์ ธ์žˆ์œผ๋ฏ€๋กœ ํ‘œ์ค€ํŽธ์ฐจ๊ฐ€ ๋” ํฌ๋‹ค. ๋‹จ๋… ์ž์‚ฐ์˜ ๊ฒฝ์šฐ, ์ผ๋ฐ˜์ ์œผ๋กœ ํ‘œ์ค€ํŽธ์ฐจ๊ฐ€ ํด ์ˆ˜๋ก, ์ฆ‰ ๋ถ„ํฌ๊ฐ€ ๋„“๊ฒŒ ํผ์ ธ์žˆ์„ ์ˆ˜๋ก ..
[์žฌ๋ฌด๊ด€๋ฆฌ] 2. The Financial Environment : Interest Rates 1. Cost of Money : ์ž๋ณธ ์กฐ๋‹ฌ ๋น„์šฉ ๋ˆ์„ ๋นŒ๋ฆฌ๊ฑฐ๋‚˜ Ownedํ•ด์„œ ์“ฐ๊ธฐ ์œ„ํ•ด ์ง€๋ถˆํ•ด์•ผ ํ•˜๋Š” ๊ฐ€๊ฒฉ ๊ธฐ์—…์ด ์ž๋ณธ๊ธˆ์„ ๋งˆ๋ จํ•˜๋Š” ๋ฐฉ๋ฒ•์—๋Š” 1) Debt : ์€ํ–‰ ๋“ฑ์—์„œ ๋ˆ ๋นŒ๋ฆฌ๊ธฐ 2) Equity : ์ฃผ์ฃผ๋“ค์—๊ฒŒ ์ฃผ์‹ ๋“ฑ ํŒ”๊ธฐ ๊ฐ€ ์žˆ์Œ ์ด ๋•Œ Debt๋Š” ์ด์ž(interest) ๊ฐ€ ๋ฐœ์ƒํ•˜๊ณ , equity๋Š” ๋ฐฐ๋‹น๊ธˆ(dividence) ๋“ฑ์˜ cost๊ฐ€ ๋ฐœ์ƒํ•จ ์ด๋Ÿฌํ•œ cost๋ฅผ ํ•ฉ์ณ์„œ cost of capital ์ด๋ผ๊ณ  ํ•จ (์ฐธ๊ณ ๋กœ cost of equity > cost of debt ๋ผ๊ณ  ํ•จ) Four factors affect the cost of money Production Opportunities : ์ƒ์‚ฐ๊ธฐํšŒ ๋‹ค๋ฅธ ๊ณณ์— ๋ˆ ์“ธ๋ฐ๊ฐ€ ๋งŽ์œผ๋ฉด ๋นŒ๋ ค์ฃผ๋Š” ๊ธฐํšŒ๋น„์šฉ์ด ์˜ฌ๋ผ๊ฐ, ๋‹ค๋“ค ๋ˆ ๊ฐ€์ง€๊ณ  ์‹ถ์–ดํ•จ ์ด๊ฒŒ ์ฆ๊ฐ€..
[์žฌ๋ฌด๊ด€๋ฆฌ] 1. Time value of money 0. Overview Future Value of Single Cash Flow (Lump Sum, ํ˜„์žฌ n์›์˜ ๋ฏธ๋ž˜ ๊ฐ€์น˜) Present Value of a Single Cash Flow (๋ฏธ๋ž˜ n์›์˜ ํ˜„์žฌ ๊ฐ€์น˜) Future and Present Value of Annuities (์—ฐ๊ธˆ, ๋งค ๋…„ ๊ฐ™์€ ๊ธˆ์•ก ์ ๊ธˆ ์‹œ ๋ชจ์ด๋Š” ๋ˆ) Future and Present Value of Uneven Cash Flows (๋งค ๋…„ ๋‹ค๋ฅธ ๊ธˆ์•ก ์ ๊ธˆ) Non-annual Interenst Compounding (๋น„์—ฐ๊ฐ„ ์ด์ž๋ณต๋ฆฌ, ์—ฐ๋ณ„ ๋ง๊ณ  ๋” ์ž์ฃผ ์ ๊ธˆ) ์šฉ์–ด ์ •๋ฆฌ PV = Present Value (๋ˆ์˜ ํ˜„์žฌ ๊ฐ€์น˜) FVn = Future Value (์ง€๊ธˆ์œผ๋กœ๋ถ€ํ„ฐ n๋…„ ๋’ค์˜ ๋ˆ์˜ ๊ฐ€์น˜) i = ์—ฐ๊ฐ„ ์ด์ž์œจ n = ๋…„..
[์žฌ๋ฌด๊ด€๋ฆฌ] 0. Introduction What is Corporate Finance? ๊ธฐ์—… ์žฌ๋ฌด๋ž€? ๊ธฐ์—…์ด ํˆฌ์žํ•ด์•ผํ•  assets(์ž์‚ฐ, Liabilities+Equity), ๊ทธ๋ฆฌ๊ณ  ์ด๋Ÿฌํ•œ ํˆฌ์ž์— ์ž๊ธˆ์„ ์–ด๋–ป๊ฒŒ ์กฐ๋‹ฌํ•˜๋Š”์ง€(finance)๋ฅผ ํฌํ•จํ•˜๋Š” ๋‚ด์šฉ => ํšŒ์‚ฌ๋Š” ์‚ฌ์—…์„ ์šด์˜ํ•˜๊ณ  ๊ทธ์— ํ•„์š”ํ•œ ์ž๊ธˆ์„ ์กฐ๋‹ฌํ•˜๊ธฐ ์œ„ํ•ด ์–ด๋””์—์„œ cash๋ฅผ ์–ป์„๊นŒ? [ํšŒ๊ณ„ํ•™์›๋ฆฌ ๋Œ€์ถฉ ๋“ค์–ด์„œ ๊ธฐ์–ต ์•ˆ๋‚˜๋Š” ๋‚˜๋ฅผ ์œ„ํ•œ ์ •๋ฆฌ] Assets (์ž์‚ฐ) = Liabilities (๋ถ€์ฑ„) + Equity (์ž๋ณธ) Debt : ์€ํ–‰ ๋“ฑ์—์„œ ๋นŒ๋ฆฌ๋Š” ๋ˆ Liabilities ์ค‘, ์ง„์งœ ๋ˆ ๊ทธ ์ž์ฒด์™€ ๊ด€๋ จ๋œ '๋นš'์ด debt Equity : ์ฃผ์ฃผ๋กœ๋ถ€ํ„ฐ ๋ฐ›์€ ๋ˆ Debt ์™€ Equity๋ฅผ ํ†ตํ•ด Funds(์ž์‚ฐ)๋ฅผ ์œ ์น˜ํ•˜๊ณ , ์ด Funds๋ฅผ Assets์œผ๋กœ ์‚ฌ์šฉํ•œ๋‹ค. ์€ํ–‰ํ•œํ…Œ ๋ˆ์„ ๋นŒ๋ฆฌ๊ฑฐ..
BOJ9095 : 1, 2, 3 ๋”ํ•˜๊ธฐ (Silver 3) ๋„ˆ๋ฌด ์˜ค๋žœ๋งŒ์— DP ํ’€์—ˆ๋”๋‹ˆ ์–ด์ผ€ํ•˜๋Š”๊ฑด์ง€ ์™„์ „ ๊นŒ๋จน์—ˆ๋Š”๋ฐ ์ธํ„ฐ๋„ท์— ์น˜์ž๋งˆ์ž ๋– ์˜ค๋ฆ„ DP == ์ ํ™”์‹ ์„ธ์šฐ๊ธฐ ๊ทธ๋ž˜์„œ DP ๊ธฐ๋ณธ ๋ฌธ์ œ๋Š” ์ฝ”๋”ฉ๋ณด๋‹ค๋Š” ์ˆ˜ํ•™๋ฌธ์ œ ํ‘ธ๋Š” ๊ฒƒ ๊ฐ™์€ ๋Š๋‚Œ์ด ๋“ ๋‹ค.. ์ฒ˜์Œ์— ์ด์ƒํ•œ ์ง“ํ•˜๋‹ค๊ฐ€ ์ธํ„ฐ๋„ท์˜ ํž˜์„ ๋นŒ๋ ค ํžŒํŠธ๋ฅผ ์–ป์—ˆ๊ณ , ๊ทธ ๋‹ต์€ dp[i] = dp[i-3] + dp[i-2] + dp[i-1] ์˜ˆ๋กœ, a5๋ฅผ ๊ตฌํ•œ๋‹ค๊ณ  ํ•ด๋ณด๋ฉด a4 ์ฆ‰ 4๋ฅผ ๋งŒ๋“œ๋Š” ๋ฐฉ๋ฒ•์— ์ „๋ถ€ +1 ํ•œ ๊ฒƒ + a3 ์ฆ‰ 3์„ ๋งŒ๋“œ๋Š” ๋ฐฉ๋ฒ•์— ์ „๋ถ€ +2 ํ•œ ๊ฒƒ + a2 ์ฆ‰ 2๋ฅผ ๋งŒ๋“œ๋Š” ๋ฐฉ๋ฒ•์— ์ „๋ถ€ +3 ํ•œ ๊ฒƒ ์ด ๋ฐ”๋กœ 5๋ฅผ ๋งŒ๋“œ๋Š” ๋ฐฉ๋ฒ•์˜ ์ „๋ถ€์ด๋‹ค. (2) + 3 (3) + 2 (4) + 1 ๊ด„ํ˜ธ ์•ˆ์˜ ์ˆ˜๋ฅผ ๋‚˜ํƒ€๋‚ด๋Š” ๋ฐฉ๋ฒ•์€ ์ด๋ฏธ ์•ž์—์„œ ๊ตฌํ•ด๋†จ์œผ๋‹ˆ, ๊ทธ ๋ฐฉ๋ฒ•์—๋‹ค๊ฐ€ ๊ฐ๊ฐ 3, 2, 1์„ ๋”ํ•˜๋ฉด ๋จ #include int dp[12]..