CHAPTER 1
Financial Management: Scope and Objectives
LEARNING OBJECTIVES
- Explain the nature of finance and its interaction with other management functions.
- Review the changing role of the finance manager and his/her position in the management hierarchy.
- Focus on the Shareholder Wealth Maximization (SWM) principle as an operationally desirable finance decision criterion.
- Discuss agency problems in finance.
- Illustrate the organization of finance functions.
INTRODUCTION
Financial management was a branch of economics till 1890; as a separate discipline, it is of recent origin. Even now it is not an independent body of knowledge, and draws heavily on economics for its theoretical concepts. Financial management is of immense interest to both ...
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