These CFA® Level I Corporate Issuers Notes (2025 edition) provide a focused, well-structured 158-page guide written by a passed CFA candidate. The notes distill high-yield concepts directly aligned with the CFA Institute’s Learning Outcome Statements (LOS), ideal for exam review and concept mastery in corporate finance.
This resource outlines core knowledge areas within the Corporate Issuers curriculum, highlighting how businesses are structured, financed, governed, and evaluated. Whether you’re a self-learner or a structured exam prep student, this material simplifies complex theories and frameworks into practical, digestible insights.
Key Chapters and Topics Covered:
1. Organization Forms, Corporate Issuer Features and Ownership
Introduces business structures (sole proprietorship, partnership, corporation), legal identities, liability implications, and how ownership types (public vs private) influence corporate operations and governance models.
2. Investors and Other Stakeholders
Covers the classification of investors, stakeholder rights, and how stakeholder theory applies to business decisions. Includes debt vs. equity holders, internal vs. external stakeholders, and their influence on corporate objectives.
3. Corporate Governance: Conflicts, Mechanisms, Risks, and Benefits
This vital chapter explains agency conflicts between managers and shareholders, board structures, governance codes, control mechanisms, audit practices, and governance risks. It also addresses environmental, social, and governance (ESG) considerations.
4. Working Capital & Liquidity
Examines liquidity ratios, cash conversion cycles, and how firms manage current assets and liabilities to maintain operational efficiency. It explores trade credit, inventory turnover, and working capital strategies for various industries.
5. Capital Investments and Capital Allocation
Explores capital budgeting techniques including NPV, IRR, payback, and profitability index. It evaluates how companies analyze and select projects, emphasizing risk-adjusted returns, strategic investment decisions, and hurdle rate selection.
6. Capital Structure
Discusses optimal capital structure, debt vs. equity financing, cost of capital, leverage ratios, and how taxation, bankruptcy, and market conditions impact financing decisions. It also covers the Modigliani-Miller propositions and trade-off theory.
7. Business Models
Introduces how companies structure operations and revenue generation through value creation, pricing strategy, cost leadership, differentiation, and innovation. Business model risk and long-term sustainability are also addressed.
What Makes This Study Guide Effective:
- Summarized for Clarity: Direct-to-the-point notes, reducing prep time
- LOS-Aligned Structure: Tailored to CFA Institute’s updated 2025 syllabus
- Authored by a CFA Level I pass candidate: Practical insight for exam performance
- Visual Aids: Charts, tables, and formulas for fast memorization
- Comprehensive Coverage: Integrates real-world applications of financial theory
These notes are ideal for CFA Level I candidates, finance students, and professionals seeking a solid foundation in corporate finance and governance. Whether you’re preparing for your first attempt or reviewing key sections for deeper understanding, this Corporate Issuers summary ensures you’re exam-ready with the tools and confidence to perform.
Best for:
- CFA® Level I 2025 candidates
- Business or finance majors in undergraduate programs
- Corporate finance trainees and interns
- Professionals needing a concise corporate governance refresher
Equip your CFA study arsenal with this Corporate Issuers resource and accelerate your path to charterholder status.
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