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c h n g t r n h g i n g d y k i n h t F u l b r i g h t

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N M 2 0 0 6

T S . N G U Y N M I N H K I U

G i n g v i n i h c K i n h T T P . H C M v C h n g t r n h G i n g D y K i n h T F u l b r i g h t

T I C H N H

D O A N H N G H I P

( L T H U Y T , B I T P V B I G I I )

DI HC THI N G U Y N !

T H U N T M H C L :

N H X U T B N T H N G K

N m 2 0 0 6

3

V T C G I

Tin s NGUYN MINH K I U h i n l T r n g B M n K i n h Doanh T i n T ca Khoa N g n h n g t h u c T r n g i h c K i n h t T h n h p h H C h M i n h . n g c n l g i n g v i n c h n h m n P h n t ch T i c h n h v n g G i n g v i n m n T i c h n h P h t t r i n ca C h n g T r n h G i n g D y K i n h T Fulbr ig th - C h n g t r n h l i n k t g ia Har-v a r d Unive r s i ty v i hc K i n h t T h n h p h H C h M i n h .

T t n g h i p C n h n K i n h t c h u y n n g n h N g n h n g n m 1986, n g c i hc K i n h T g i l i l m c n b g i n g d y ca t r n g t n m 1987. N m 1995 n g t r n g t u y n v t h a m gia v o C h n g T r nh P h t T r i n Q u n L T h y S - A I T - V i t N a m (SAV) v c t u y n c h n sang hc c h n g t r n h Thc s Q u n Tr K i n h Doanh ( M B A ) t i V i n C n g N g h C h u ( A U ) , T h i Lan. N m 1997 sau k h i n h n b n g M B A , n g v t i p tc g i n g d y t i i hc K i n h T n g t h i l m n g h i n c u v g i n g d y cho c h n g t r n h SAV. N m 1998 n g n h n c hc b n g ca C h n g t r n h SAV v c t u y n c h n v o hc c h n g t r nh T i n s Q u n Tr K i n h Doanh ( D B A ) t i Southern Cross Univers i ty , Austral ia . N m 2001 sau k h i n h n b n g D B A n g t r v V i t N a m g i n g d y cho i hc K i n h T v C h n g t r n h Fu lb r ig th . N g o i ra, n g c n g i n g d y T i c h n h c n g ty , Q u n tr t i c h n h v T i c h n h quc t cho cc c h n g t r n h do i hc n c n g o i m V i t N a m n h CFVG, BI, C u r t i n , Cao hc H Lan, v tham gia g i n g d y v t v n cho cc doanh n g h i p v n g n h n g t h n g m i V i t N a m .

4

L I T C G I

Lung gi i mi bt u t nm 1986 thi cc khi nim v l t h u y t q u n t r t i c h n h v t i c h n h c n g t y t c c n c p h t t r i n , c b i t l M , v o V i t N a m . T n nay, n h n g k h i n i m q u n tr v l t h u y t t i c h n h c n g ty t n g bc c hc t p v t r u y n b v o V i t N a m . T h n g t h n m n i y l m t n g g p quan t r n g , n h n g quan t r n g h n na l l m sao n g d n g c c c k h i n i m v l t h u y t t i c h n h c x y d n g v p h t t r i n t c c n c t i n t i n

v o b i c n h ca V i t N a m .

P h n l n c c s c h t i c h n h doanh n g h i p v q u n tr t i c h n h x u t b n V i t N a m t t rc n nay u c g n g v ch d n g l i m c b i n d ch v g i i t h i u c c k h i n i m v l t h u y t t i c h n h c n g ty M v o V i t N a m , c h c h a l m r v n h n m n h n c c h thc c n g n h k h n n g n g d n g cc k h i n i m v l t h u y t n y n h t h n o . K t q u l c g i , n h t l c c b n s inh v i n c h a t r i n g h i m qua thc t i n , c m t h y k h h i u v b i r i k h i v n d n g v o thc t i n . G p p h n chia s k h k h n n y , t i b ra t h i g ian v c n g sc hc t p c h t h n g qua c h n g t r n h thc s v t i n s q u n t r k i n h doanh nc n g o i , t c v n g h i n c u qua k h o n g 10 q u y n s c h v q u n tr t i c h n h (Financial Management) v t i c h n h c n g ty (Corporate Finance) t r o n g su t l o n m t r i c n g v i k i n h n g h i m t v n v l n l n v i cc doanh n g h i p V i t N a m v i t v x u t b n q u y n T i c h n h c n g ty : L t h u y t v thc h n h q u n l n g d n g cho c n g t y V i t N a m . Q u y n s c h n y n g h i n c u k tha v v n d n g c c k h i n i m v l t h u y t q u n t r t i c h n h v t i c h n h c n g ty c t r n h b y t r o n g c c t c p h m n i t i n g ca cc g i o s cc t r n g i h c M . D o

v y , n i d u n g q u y n s c h n y t h h i n s v n d n g v o V i t N a m c c k h i n i m v l t h u y t t i c h n h t :

X. Van Horne, J.c, and Wachowicz, J.M., (2001), Fundamentals of F i n a n c i a l M a n a g e m e n t , l l t h Ed i t i on , Prentice H a l l .

2. Ross, Wester f ie ld and Jordan : Fundamenta l s o f Corporate F inance , Seventh edi t ion , 2005, M c G r a w - H i l l I n v i n .

3. Ross, S.A., Wes te r f i e ld , R . w . , Jaffe, J.F., (2002), Corporate F inance , 6 t h E d i t i o n , M c G r a w - H i l l and I n v i n .

4. Ross, S.A., Wes te r f i e ld , R . w . , Jaffe, J.F., (2005), Corporate F inance , 7 t h E d i t i o n , M c G r a w - H i l l and I r w i n .

5. Brealey, R.A., and Myers , S.C., (1996), Pr inc ip les oi Corporate Finance , 5 t h Ed i t i on , M c G r a w - H i l l

6. Frank J. Fabozzi, Franco M o d i g l i a n i , Frank J. Jones, Michae l G. Ferr i : Founda t ions oi f i n a n c i a l markets and ins t i tu t ions , T h d ed i t ion , 2002, Prentice Hau .

7. M a d u r a , J. (2001), F inanc ia l Marke t s and Ins t i tu t ions , 5 t h ed i t ion , South-VVestern College Publishing.

8. Shapiro, A . A . , (1999), M u l t i n a t i o n a l F inanc ia l Managemen t , 6 t h ed i t ion , Prentice Ht! .

9. E u n and Resnick : I n t e r n a t o n a l F inanc ia l Managemen t , T h d E d i t i o n , 2004, I n v i n - M c G r a w - H i l l

10. M o o s a , A . . , (2004), I n t e r n a t i o n a l Pinance, 2 n d e d i t i o n , M c G r a w - H i l l .

Nt c o ca quyn sch ny khng ch dng li ch tham k h o n h i u s c h v t i c h n h ca cc tc g i n i t i n g n c n g o i m c n c h , t rc t i n , b i t ch t lc n h n g k h i n i m v l t h u y t n o p h h p v c k h n n g n g d n g V i t N a m , v , k n , t r n h b y theo t r t t v h t h n g sao cho d c , d h i u , d theo d i , v c b i t , d n g d n g i v i c g i . V i m c t i u n h v y , q u y n s c h n y c t r n h b y t h n h 6 p h n bao g m 18 c h n g :

Phn : C n b n v t i c h n h c n g ty - Phn n y c b n c h n g l n l t t r n h b y T n g quan v q u n tr t i c h n h c n g ty , Thi gi tin t v m hnh chit khu dng tin, Quan h gia li nhun v ri ro v M hnh nh gi ti sn vn. M c t i u ca p h n n y l t rang b k i n thc c n b n l m n n t n g cho v i c n g h i n c u c c p h n t i p theo Phn 2 : P h n t ch v q u y t n h u t - Phn n y c b n c h n g l n lt t r n h b y nh gi v quyt nh u t ti sn ti chnh, nh gi v

6

quyt nh u t ti sn c nh, Quyt nh tn qu v tn kho, v Quyt nh chnh sch bn chu v qun l khon phi thu. M c t i u ca p h n n y l t rang b k i n thc v c n g c p h n t ch g i p ra c c q u y t n h u t , m t t rong ba q u y t ch y u ca t i c h n h c n g ty . Phn 3 : P h n t ch v q u y t n h n g u n v n - Phn n y c n m c h n g l n l t t r n h b y n by hot ng v n by ti chnh, Quyt nh mua hay thu ti chnh, Quyt nh ngun vn ca cng ty, Cc l thuyt v c cu vn ca cng ty, v L thuyt M&M v c cu vn ca cng ty. M c t i u ca p h n n y l t rang b k i n thc v c n g c p h n t ch n h m ra q u y t n h l i n quan n h u y n g n g u n v n . N t c o ca p h n n y l b n s t i p c n m t c c h c h t h n g v i l t h u y t M & M v c c u v n . Phn 4 : Q u y t n h chnh s c h c tc p h n g nga r i ro t i c h n h - P h n n y c hai c h n g l n l t t r n h b y Quyt nh chnh sch c tc v Quyt nh gii php phng nga ri ro ti chnh. M c t i u ca c h n g n y l t rang b k i n thc v c n g c p h n t ch q u y t i n h c h n h s c h p h n p h i l i n h u n ca c n g ty . N g o i ra, c n t rang b c n g c p h n t ch n h m g i p c n g ty n g n c h n n h h n g ca r i ro t i c h n h , g p p h n l m gia t n g gi t r v l i n h u n cho c n g . Phn 5 : P h n t ch v hoch i n h t i c h n h c n g ty - Phn n y c ba c h n g l n l t t r n h b y Gii thiu cc bo co ti chnh cng ty, Phn tch cc bo co ti chnh cng ty, v Hoch nh ti chnh cng ty. M c t i u ca p h n n y l t r n h b y k i n thc v c n g c g i p b n h i u c t n h h n h t i c h n h c n g ty t rong q u k h v h i n t i hoch n h t i c h n h cho t n g l a i , n h m t m c t i u k h n g n g n g gia t n g gi t r t i sn cho c n g . Phn 6 : Bi g i i v p n g i - Phn n y x u t cc bi gii v p n gi cho cc b i t p c u i m i c h n g , n h m g i p b n n t p v n m v n g k i n thc t r n h b y t rong l t h u y t . N g o i ra, c u i m t s c h n g c n c t r n h b y cc nghin cu tnh hung n h m g i p b n c h i u c c c h thc n g d n g v a cc k h i n i m c n g n h l t h u y t t i c h n h hc t p c cc nc v o V i t N a m n h t h n o .

V i s u p h n v 18 c h n g c b cc v t r n h b y m t c c h khoa hc v c h t h n g , t i hy v n g q u y n s c h n y s l m t c m nang k h n g t h t h i u ca c c n h q u n l v g i o t r n h c a c h u n g n h t ca c c b n s inh v i n . X i n g i i t h i u v c h n t h n h c m n s n g h ca q u c g i n v i q u y n s c h n y .

7

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