Finance Interactive Wiki - User contributions [en]

Test page

2026-03-01T12:25:36Z

Rbazaes:

This is test page.

<math>100 \times \frac{\text{MarketIndex}(C) - \text{MarketIndex}(C-12) }{\text{MarketIndex}(C-12)}</math>

[[File:Random-image.jpg|thumb]]

File:Random-image.jpg

2026-03-01T12:25:24Z

Rbazaes:

test image

Test page

2026-03-01T12:16:58Z

Rbazaes:

This is test page.

<math>100 \times \frac{\text{MarketIndex}(C) - \text{MarketIndex}(C-12) }{\text{MarketIndex}(C-12)}</math>

Test page

2026-03-01T12:16:33Z

Rbazaes: Created page with "This is test page."

This is test page.

CEO Table

2025-03-27T10:16:29Z

Rbazaes: Created page with "== Description == This table appears once you click on the ''Choose new CEO'' button. It displays a list of potential CEOs not working for any company. Clicking on any row will prompt you to confirm your decision. Also, you can sort the table by any column by clicking on the respective header. The table contains the following information (see the CEO page for more details regarding the influence of the stats in the game): * Name. * Age. * Salary. * Investment h..."

== Description ==
This table appears once you click on the ''Choose new CEO'' button. It displays a list of potential CEOs not working for any company. Clicking on any row will prompt you to confirm your decision. Also, you can sort the table by any column by clicking on the respective header.

The table contains the following information (see the [[CEO|CEO page]] for more details regarding the influence of the stats in the game):

* Name.
* Age.
* Salary.
* Investment horizon.
* Investment scale.
* Revenue focus.
* Efficiency focus.
* Risk tolerance.
* Visionary level.
* ROI focus.
* Skill.
* Acquisition focus.
* Acquisition resistance.
* Debt tolerance.

== Related concepts ==

* [[Subsidiary Management Panel|Subsidiary Management Panel.]]
* [[CEO|CEO.]]

[[Category:Game Concepts]]

Change Company Symbol

2025-03-27T09:36:28Z

Rbazaes:

== Description ==
You can access this feature from the [[Management Panel]] (for changing your company symbol) or from the [[Subsidiary Management Panel]] (to change one of your subsidiaries' symbol).

When clicking on this button, you will be prompted to choose a new symbol. A valid symbol is a 1-4 alphanumerical characters (all capitalized). Note that the current symbol is set as default. If the symbol is already being used by another company, then a warning text ''Symbol is unavailable!'' will be displayed. Clicking ''confirm'' in this case won't have any effect.

Click ''confirm'' to confirm the symbol change, or cancel to keep the current name. The symbol change will appear in the [[Financial News Table]].

== Strategy tips ==

* Changing the company symbol has no effect (as of now) on the company valuation, but it can be useful to remember who is who.

== Real-world parallel ==
In the real world, changing the company symbol by itself usually has no significant impact. It usually comes with a name change.

== Related concepts ==

* [[Management Panel|Management Panel.]]
* [[Subsidiary Management Panel|Subsidiary Management Panel.]]
* [[Change Company Name|Change Company Name.]]

[[Category:Game Concepts]]

Change Company Name

2025-03-27T09:31:22Z

Rbazaes:

== Description ==
You can access this feature from the [[Management Panel]] (for changing your company name) or from the [[Subsidiary Management Panel]] (to change one of your subsidiaries' name).

When clicking on this button, you will be prompted to choose a new name. Note that the current name is set as default. If the name is already being used by another company, then a warning text ''Name is unavailable!'' will be displayed. Clicking ''confirm'' in this case won't have any effect.

Click ''confirm'' to confirm the name change, or cancel to keep the current name. The name change will appear in the [[Financial News Table]].

== Strategy tips ==

* Changing the company name has no effect (as of now) on the company valuation, but it can be useful to remember who is who.

== Real-world parallel ==
In the real world, changing the company name may impact (for good or bad) the company. See for example:

* [[wikipedia:Long_Blockchain_Corp.|A tea company name turned into blockchain.]]
* [[wikipedia:Meta_Platforms|Facebook becoming Meta.]]

== Related concepts ==

* [[Management Panel|Management Panel.]]
* [[Subsidiary Management Panel|Subsidiary Management Panel.]]
* [[Change Company Symbol|Change Company Symbol.]]

[[Category:Game Concepts]]

Change Company Symbol

2025-03-27T09:31:04Z

Rbazaes: Created page with "== Description == You can access this feature from the Management Panel (for changing your company symbol) or from the Subsidiary Management Panel (to change one of your subsidiaries' symbol). When clicking on this button, you will be prompted to choose a new symbol. A valid symbol is a 1-4 alphanumerical characters (all capitalized). Note that the current symbol is set as default. If the symbol is already being used by another company, then a warning text ''Sym..."

== Description ==
You can access this feature from the [[Management Panel]] (for changing your company symbol) or from the [[Subsidiary Management Panel]] (to change one of your subsidiaries' symbol).

When clicking on this button, you will be prompted to choose a new symbol. A valid symbol is a 1-4 alphanumerical characters (all capitalized). Note that the current symbol is set as default. If the symbol is already being used by another company, then a warning text ''Symbol is unavailable!'' will be displayed. Clicking ''confirm'' in this case won't have any effect.

Click ''confirm'' to confirm the symbol change, or cancel to keep the current name. The symbol change will appear in the [[Financial News Table]].

== Strategy tips ==

* Changing the company symbol has no effect (as of now) on the company valuation, but it can be useful to remember who is who.

== Real-world parallel ==
In the real world, changing the company symbol by itself usually has no significant impact. It usually comes with a name change.

* [[wikipedia:Long_Blockchain_Corp.|A tea company name turned into blockchain.]]
* [[wikipedia:Meta_Platforms|Facebook becoming Meta.]]

== Related concepts ==

* [[Management Panel|Management Panel.]]
* [[Subsidiary Management Panel|Subsidiary Management Panel.]]
* [[Change Company Name|Change Company Name.]]

[[Category:Game Concepts]]

Change Company Name

2025-03-27T09:27:34Z

Rbazaes:

Change Company Name

2025-03-27T09:20:41Z

Rbazaes: Created page with "== Description == You can access this feature from the Management Panel (for changing your company name) or from the Subsidiary Management Panel (to change one of your subsidiaries' name). When clicking on this button, you will be prompted to choose a new name. Note that the current name is set as default. If the name is already being used by another company, then a warning text ''Name is unavailable!'' will be displayed. Clicking ''confirm'' in this case won't..."

== Description ==
You can access this feature from the [[Management Panel]] (for changing your company name) or from the [[Subsidiary Management Panel]] (to change one of your subsidiaries' name).

When clicking on this button, you will be prompted to choose a new name. Note that the current name is set as default. If the name is already being used by another company, then a warning text ''Name is unavailable!'' will be displayed. Clicking ''confirm'' in this case won't have any effect.

Click ''confirm'' to confirm the name change, or cancel to keep the current name. The name change will appear in the [[Financial News Table]].

== Strategy tips ==

* Changing the company name has no effect (as of now) on the company valuation, but it can be useful to remember who is who.

== Related concepts ==

* [[Management Panel|Management Panel.]]
* [[Subsidiary Management Panel|Subsidiary Management Panel.]]

[[Category:Game Concepts]]

Projects Panel

2025-03-27T09:09:09Z

Rbazaes:

== Description ==
This panel consists of two windows: one showing ''current projects'' and the other showing ''potential projects''. See the [[Project]] page for details about how projects work in this simulation.

The '''current projects window''' displays the following information:

* Name: as of now, it is an ID identifier from the project database.
* Age: how many months have elapsed since its initial investment.
* Stage: a project can be in of three stages: development, growing and maturity. For projects in the first two phases, in parenthesis it is indicated how many months remain to go to the next stage.
* [[Book Value|Book value]] of capital (in $M).
* Revenue (in $M).
* Revenue growth (%): annualized rate based on last month growth.
* Gross profit (in $M).
* Operating expenses (in $M).
* Operating income (in $M).
* Expected [[Net Present Value|NPV]] (in $M).
* For projects in the maturity phase, you have the option to [[Divestment|divest]] a project. When clicking on it, you will be shown either one of two options:
** If the expected NPV is higher than the book value of capital, then you will sell the project. The proceeds are qualified as extraordinary gains in the [[Income Statement|income statement]].
** Otherwise, the project will be scrapped, the book value of capital (plus the working capital associated to the project) will be recovered as non-operating assets. These can be used for investing in new projects. In any case, the company will automatically do this when a project reaches maturity and the book value of capital is higher than the expected NPV (since by that time, the latter will be a stable, albeit not constant, number).

The '''potential projects window''' displays the following information:

* Months available: once it reaches 0, it will disappear from the table.
* Development time (in months): during this time, the project won't produce any revenue and it will incur on small operating expenses. Also, it is the number of months where the project appears in the ''development stage'' in the current projects window (once the company has invested in the project).
* Terminal age: this is the total number of months the project will be in the ''growing stage'' (assuming it succeeds). After that period, it will go to the ''maturity stage''.
* Initial investment: this is the total upfront cost of the investment.
* Capital intensity (%): this is the proportion of the initial investment that requires capital goods. Think of the investment required in machinery, buildings, etc. for the project. This is relevant for two reasons:
** First, this part of the initial investment will appear as book value of capital in the current investments window. Thus, it will be depreciated over time and not counted as expenses in the income statement (the [[depreciation]] rate is 5% per year). The rest of the investment will be considered a operating expense, and thus will be reflected immediately in the income statement.
** Second, because you can only use non-operating assets for this part of the investment. For example, if you have $100M in non-operating assets and you want to invest in a project with initial investment of $100M with 50% capital intensity, you can use $50M of the non-operating assets for the project, while for the other half you will need cash.
* Expected monthly revenue.
* Expected gross margin (%).
* Expected operating expenses (%): as a percentage of revenues.
* Failure probability: at the end of the developing stage, the project will either ''succeed or fail''. The failure probability reflects the latter. When a project fails, you recover 90% of the book value of capital as non-operating assets.
* Success expected [[Net Present Value|NPV]]: this is the expected NPV on the event of success.
* Success median NPV: this is the [[wikipedia:Median|median]] NPV on the event of success.
* Expected NPV: computed as <math display="inline">\text{expected NPV} = \text{Book value capital} \times 0.9 \times \mathbb{P}(\text{fail}) + (1-\mathbb{P}(\text{fail})) \times \text{success expected NPV}.</math>
* Profitability index: this is the ratio <math display="inline">\text{PI} = \frac{\text{expected NPV}}{\text{initial investment}}</math>.
* To invest in a project, click on the ''choose button'', if it is available. When clicking on it, you will informed about the cost and the company's cash balance. If non-operating assets are available, you will also be informed about how much can be used to offset the initial investment, and the cash needed to finance the operation. If there is not enough cash, you will be informed of how much the company will need to borrow, as well as the line of credit remaining. Click ''confirm'' to do the investment, or ''cancel'' to cancel the investment. The ''choose'' button may not be available for the following reasons:
** You've already invested in one project during the current turn (there is a one project per turn restriction).
** The company's [[Cost of Capital|cost of capital]] is "out of bounds." Each project has a (hidden) [[Discount Rate|discount rate]] which is compared with the company's cost of capital. If the cost of capital is more than 0.5% than the project discount rate, then the project won't be able to be selected. Note that this is unlikely to occur since the projects are always chosen to be in bounds with the cost of capital, but short-term shocks may disrupt this. The reason the project is not allowed to be chosen is that the expected NPV is not reliable anymore (since all the expected numbers were precomputed assuming the project's discount rate).

== Strategy tips ==

* You don't need to manually choose projects every month since the [[CEO]] will pick one based on their stats. However, for maximum control, you can always choose projects yourself.
* It can be a good idea to invest in capital intensive projects if you have lots of non-operating assets since they won't cost you money (or much less than the total amount).
* A project with a high failure probability is not necessarily a bad thing. For once, you'll recover most of the capital assets, which can be reused in new projects. Also, this is compensated somehow with a higher expected [[Net Present Value|NPV]] when the project is successful.
* Following the previous point, a "successful" project can be a bad thing since you'll be tied to it at least until it matures. The fact that a project has a high expected (or averaged) NPV on success doesn't mean that every project will have a high NPV. Indeed, many projects have negative medians, meaning that at least 50% of the "successful" projects will end up being a sink of money for the company.
* Picking projects with low terminal and development times can be a good strategy at the beginning since projects can be [[Divestment|divested]], and you can use this money to invest in more projects.

== Related concepts ==

* [[Company Info Panel|Company Info Panel.]]
* [[Project|Project.]]

[[Category:Game Concepts]]

Projects Panel

2025-03-27T09:08:45Z

Rbazaes:

Projects Panel

2025-03-27T08:40:49Z

Rbazaes:

== Description ==
This panel consists of two windows: one showing ''current projects'' and the other showing ''potential projects''. See the [[Project]] page for details about how projects work in this simulation.

The '''current projects window''' displays the following information:

* Name: as of now, it is an ID identifier from the project database.
* Age: how many months have elapsed since its initial investment.
* Stage: a project can be in of three stages: development, growing and maturity. For projects in the first two phases, in parenthesis it is indicated how many months remain to go to the next stage.
* [[Book Value|Book value]] of capital (in $M).
* Revenue (in $M).
* Revenue growth (%): annualized rate based on last month growth.
* Gross profit (in $M).
* Operating expenses (in $M).
* Operating income (in $M).
* Expected [[Net Present Value|NPV]] (in $M).
* For projects in the maturity phase, you have the option to ''divest'' a project. When clicking on it, you will be shown either one of two options:
** If the expected NPV is higher than the book value of capital, then you will sell the project. The proceeds are qualified as extraordinary gains in the [[Income Statement|income statement]].
** Otherwise, the project will be scrapped, the book value of capital (plus the working capital associated to the project) will be recovered as non-operating assets. These can be used for investing in new projects. In any case, the company will automatically do this when a project reaches maturity and the book value of capital is higher than the expected NPV (since by that time, the latter will be a stable, albeit not constant, number).

The '''potential projects window''' displays the following information:

* Months available: once it reaches 0, it will disappear from the table.
* Development time (in months): during this time, the project won't produce any revenue and it will incur on small operating expenses. Also, it is the number of months where the project appears in the ''development stage'' in the current projects window (once the company has invested in the project).
* Terminal age: this is the total number of months the project will be in the ''growing stage'' (assuming it succeeds). After that period, it will go to the ''maturity stage''.
* Initial investment: this is the total upfront cost of the investment.
* Capital intensity (%): this is the proportion of the initial investment that requires capital goods. Think of the investment required in machinery, buildings, etc. for the project. This is relevant for two reasons:
** First, this part of the initial investment will appear as book value of capital in the current investments window. Thus, it will be depreciated over time and not counted as expenses in the income statement (the [[depreciation]] rate is 5% per year). The rest of the investment will be considered a operating expense, and thus will be reflected immediately in the income statement.
** Second, because you can only use non-operating assets for this part of the investment. For example, if you have $100M in non-operating assets and you want to invest in a project with initial investment of $100M with 50% capital intensity, you can use $50M of the non-operating assets for the project, while for the other half you will need cash.
* Expected monthly revenue.
* Expected gross margin (%).
* Expected operating expenses (%): as a percentage of revenues.
* Failure probability: at the end of the developing stage, the project will either ''succeed or fail''. The failure probability reflects the latter. When a project fails, you recover 90% of the book value of capital as non-operating assets.
* Success expected [[Net Present Value|NPV]]: this is the expected NPV on the event of success.
* Success median NPV: this is the [[wikipedia:Median|median]] NPV on the event of success.
* Expected NPV: computed as <math display="inline">\text{expected NPV} = \text{Book value capital} \times 0.9 \times \mathbb{P}(\text{fail}) + (1-\mathbb{P}(\text{fail})) \times \text{success expected NPV}.</math>
* Profitability index: this is the ratio <math display="inline">\text{PI} = \frac{\text{expected NPV}}{\text{initial investment}}</math>.
* To invest in a project, click on the ''choose button'', if it is available. The button may not be available for the following reasons:
** You've already invested in one project during the current turn (there is a one project per turn restriction).
** The company's [[Cost of Capital|cost of capital]] is "out of bounds." Each project has a (hidden) [[Discount Rate|discount rate]] which is compared with the company's cost of capital. If the cost of capital is more than 0.5% than the project discount rate, then the project won't be able to be selected. Note that this is unlikely to occur since the projects are always chosen to be in bounds with the cost of capital, but short-term shocks may disrupt this. The reason the project is not allowed to be chosen is that the expected NPV is not reliable anymore (since all the expected numbers were precomputed assuming the project's discount rate).

== Strategy tips ==
If applicable

== Related concepts ==

* [[Company Info Panel]]

[[Category:Game Concepts]]

Projects Panel

2025-03-27T08:21:50Z

Rbazaes:

Projects Panel

2025-03-27T08:16:08Z

Rbazaes:

Projects Panel

2025-03-27T08:00:23Z

Rbazaes: Created page with "== Description == This panel consists of two windows: one showing ''current projects'' and the other showing ''potential projects''. See the Project page for details about how projects work in this simulation. The '''current projects window''' displays the following information: * Name: as of now, it is an ID identifier from the project database. * Age: how many months have elapsed since its initial investment. * Stage: a project can be in of three stages: developm..."

Diagram of Holdings

2025-03-25T10:55:01Z

Rbazaes:

== Description ==
The diagram of holdings is a [[wikipedia:Tree_(abstract_data_type)|tree-like]] visual representation of a corporate entity. A corporate entity consists of a [[Parent Company|Parent company]] at the root of the tree, together with 0 or more [[Subsidiary|subsidiaries]]. Each subsidiary can, in turn, own 0 or more subsidiaries and so on.

In the diagram of holdings, each node shows the following information:

* Company name.
* Market Cap.
* For subsidiaries, the percentage owned by the parent. Example: Suppose Company A is at the root of the tree and has a market cap of $1B. Suppose also that Company A owns 75% of Company B, which has a market cap of $100M. Then the node corresponding Company A would show ''Company A.'' $1B'','' while the node corresponding Company B would show ''Company B (75%).'' $100M.

The Diagram of holdings can be accessed from the following places:

* The [[Financials Panel]].
* The [[Company Info Panel|Company Info Panel.]]
* Some actions in the [[Subsidiary Management Panel|Subsidiary Management Panel.]]

== Strategy tips ==

* On the diagram of holdings, clicking on any company will open their corresponding [[Company Info Panel]], while clicking on our company leads you to the [[Dashboard Panel]].
* In Finance Interactive, [[Cross Ownership|cross-holdings]] are not allowed, so the diagram is always a tree.

== Related concepts ==

* [[Financials Panel|Financials Panel.]]
* [[Company Info Panel|Company Info Panel.]]

[[Category:Game Concepts]]

Subsidiary Management Panel

2025-03-24T16:58:10Z

Rbazaes:

== Description ==
From here, you can manage your [[subsidiary]]. This panel is comprised of three parts:

* '''CEO information table:''' It shows information regarding the current CEO. See the [[CEO|CEO page]] for more details regarding the stats appearing in this table.
* '''Private company information table:''' This table shows the following data:
** Cash balance: similar to the player cash appearing in the [[Dashboard Panel]], this amounts doesn't include the subsidiaries' money.
** Non-operating assets: business assets not used in any project. They can be used for future projects.
** [[Tax Loss Carryovers|Tax loss carryovers.]]
** Total bank loans (not including subsidiaries' loans).
** Total (market value) bond debt (not including subsidiaries' bonds).
** [[Line of Credit|Line of credit.]]
** [[Debt Average Interest Rate.|Debt average interest rate.]]
** [[Duration]] of assets (in months).
** [[Duration]] of debt (in months).
** Current [[Cost of Capital|cost of capital]].
** Optimal [[Cost of Capital|cost of capital]].
** Current [[Debt-to-equity Ratio|debt/equity]] ratio.
** Optimal [[Debt-to-equity Ratio|debt/equity]] ratio.
** Borrow/repay for optimal ratio (positive value for borrowing, negative for repay).
*'''Subsidiary management action buttons:'''
**[[Capital Contribution|Capital contribution]]: Select the number of millions you wish to transfer to your subsidiary. It also shows the estimated [[duration]] of assets after the transaction. The maximum allowed to transfer is given by your current cash balance.
**[[Stock Contribution|Stock contribution]]: This action allows you to transfer one of your [[Fully-owned Subsidiary|fully-owned subsidiaries]] to the target companies. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can transfer. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if you have at least one fully-owned subsidiary different from the current company (otherwise there is no other company to transfer).
**Transfer subsidiary: This is a sort of opposite of a stock contribution. This action allows you to transfer one of the selected company's [[Fully Owned Subsidiary|fully-owned subsidiaries]] to the target companies. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can transfer to yourself. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if the current company is fully-owned, and they also have at least one fully-owned subsidiary.
**Sell subsidiary: Instruct the current subsidiary to sell the totality of one of their subsidiaries. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you sell. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if the current subsidiary has at least one subsidiary. Note that the current subsidiary receives the money, '''not''' you!
**Set [[dividend]] per share: Select the amount of dividends per share you wish to receive each quarter. You can only pay regular dividends from [[Retained Earnings|retained earnings]].
**Pay [[Extraordinary Dividend|extraordinary dividend]]: Select the number of millions you wish to receive as an immediate cash dividend. It also shows the estimated [[duration]] of assets after the transaction.
**Borrow money: Select the number of millions the company will borrow from the bank. You will be shown the estimated duration of debt after the transaction and the current interest rate on bank [[Loan|loans]]. It is important to note that bank loans have a floating [[Interest Rate|interest rate]], meaning that it gets updated every turn based on the general interest rate and the company's credit rating. The maximum allowed amount to borrow is limited by the line of credit.
**Repay loan: Select the number of millions the company will repay from bank loans. You will be shown the estimated duration of debt after the transaction. The maximum allowed to repay is given by your current cash balance and the total bank debt.
**Choose new CEO: This will open the [[CEO Table|CEO table]], from where you can select a new CEO. See the corresponding page for more details
**[[Change Company Name|Change company name.]]
**[[Change Company Symbol|Change company symbol.]]
**Issue [[Bond|bonds]]: When issuing bonds, you need to select the years to maturity (between 1 and 100 years), the amount to raise in millions, and, optionally, you can use part of the proceedings to repay some of the bank loans. When modifying those values, you will get updated information regarding the estimated new duration of debt, the interest rate on the bonds and the company's credit rating after the issuance. The minimum amount to raise is $100M and the maximum is given by the line of credit.
**Buy back bonds: This will open the [[Buy Back Bonds Table]], from where you can choose which bonds you wish to buy back, and how much. See the corresponding page for more details.
**[[Tax-free Liquidation|Tax-free liquidation]]: This action allows you to perform a tax-free liquidation of one of the current subsidiary's [[Fully-owned Subsidiary|fully-owned subsidiaries]]. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can merge into the current company. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the operation, or cancel to go back to the panel. This action is only shown if the current subsidiary has at least one fully-owned subsidiary.
**[[Issue New Shares|Issue new shares]]: Select the amount to raise in millions to raise as product of issuing new shares. By doing this, you will [[Stock Dilution|reduce your percentage of ownership]] in the current subsidiary. By changing the amount to raise, you will see the estimated percentage of ownership after the transaction. If this goes below 50%, you will be shown a warning indicating that you will lose control of the company. Once the current subsidiary issues new shares, it needs to wait at least 12 months before a new issuance of shares can be done. Also, the maximum amount to raise is limited to 5% of the subsidiary's market cap.
**[[Stock Buyback|Buy back stock]]: Select the amount in millions you wish the subsidiary to buy back from the public. This will increase your stake in the company. By changing the amount to buyback, you will see the estimated percentage of ownership after the transaction. The maximum amount to buyback is restricted by the company's cash balance and the amount of shares available to the public.
**Company strategy: You can allow or disallow the subsidiary to perform the following operations:
***Do acquisition?:If selected, the company will attempt to perform acquisitions. This is influenced by the CEO's acquisition focus. Otherwise, the company won't attempt to do any acquisitions.
***Optimize [[Cost of Capital|cost of capital]]?:If selected, the company to try to optimize their cost of capital by taking/repaying loans, issuing bonds or buying them back. This is also influenced by the CEO's debt tolerance. See the [[Cost of Capital|Cost of Capital page]] for more details.
***[[Capital Allocation Optimization|Optimize capital allocation]]?:If selected, the subsidiary will move money around with their subsidiaries to maximize the overall market value. See the [[Capital Allocation Optimization|Capital Allocation Optimization page]] for details about how is this done in the game. Regardless of the selection, this only will be attempted if the subsidiary itself has subsidiaries.
== Strategy tips ==

* The [[Debt Average Interest Rate.|Debt average interest rate]] considers the whole current company, including subsidiaries. Even though the company itself may be paying little interest on debt, this number may be higher if some of their subsidiaries may be paying more interest on their debt. Additionally, this number may be higher if the company issued bonds with a high coupon payment.
* Regarding debt, bank loans have variable interest rates, while bonds have a fixed interest based on coupon payments.Thus, you can "lock" a good interest rate by issuing bonds when interest rates are low (and your company has good credit rating), even if you may not need the money in the short term.
* New CEOs are periodically spawned, so it can be a good idea to look at it periodically if you are looking for a better CEO than the current one (or if the current CEO is about to retire. In this game, all CEOs retire at 65 years).
* A high amount of non-operating assets may be a product of a big project with high capital requirements fails. Companies can later use those assets for new projects (see the [[Projects Panel]] for details). Companies won't sell non-operating assets unless they are in [[Bankruptcy|financial distress]].
* Tax-free liquidations are very useful when you wish to consolidate your companies. Additionally, by merging two companies, the bigger company will have a higher [[Market Share|market share]], which can unlock powerful [[Economies of Scale Benefits|economies of scale benefits]]. Since companies can start at most one new project per turn, this means that by merging companies you lose "project capacity" sort of speak. Thus, it only makes sense to do tax-free liquidations when either both companies are relatively big, or one company has big [[Tax Loss Carryovers|tax loss carryovers]] that won't be used in its totality (maybe because the company shrank and has now huge tax loss carryovers which cannot use).

== Related concepts ==

* [[Company Info Panel|Company Info Panel.]]

[[Category:Game Concepts]]

Subsidiary Management Panel

2025-03-24T16:55:28Z

Rbazaes:

== Description ==
From here, you can manage your [[subsidiary]]. This panel is comprised of three parts:

* '''CEO information table:''' It shows information regarding the current CEO. See the [[CEO|CEO page]] for more details regarding the stats appearing in this table.
* '''Private company information table:''' This table shows the following data:
** Cash balance: similar to the player cash appearing in the [[Dashboard Panel]], this amounts doesn't include the subsidiaries' money.
** Non-operating assets: business assets not used in any project. They can be used for future projects.
** [[Tax Loss Carryovers|Tax loss carryovers.]]
** Total bank loans (not including subsidiaries' loans).
** Total (market value) bond debt (not including subsidiaries' bonds).
** [[Line of Credit|Line of credit.]]
** [[Debt Average Interest Rate.|Debt average interest rate.]]
** [[Duration]] of assets (in months).
** [[Duration]] of debt (in months).
** Current [[Cost of Capital|cost of capital]].
** Optimal [[Cost of Capital|cost of capital]].
** Current [[Debt-to-equity Ratio|debt/equity]] ratio.
** Optimal [[Debt-to-equity Ratio|debt/equity]] ratio.
** Borrow/repay for optimal ratio (positive value for borrowing, negative for repay).
*'''Subsidiary management action buttons:'''
**[[Capital Contribution|Capital contribution]]: Select the number of millions you wish to transfer to your subsidiary. It also shows the estimated [[duration]] of assets after the transaction. The maximum allowed to transfer is given by your current cash balance.
**[[Stock Contribution|Stock contribution]]: This action allows you to transfer one of your [[Fully-owned Subsidiary|fully-owned subsidiaries]] to the target companies. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can transfer. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if you have at least one fully-owned subsidiary different from the current company (otherwise there is no other company to transfer).
**Transfer subsidiary: This is a sort of opposite of a stock contribution. This action allows you to transfer one of the selected company's [[Fully Owned Subsidiary|fully-owned subsidiaries]] to the target companies. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can transfer to yourself. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if the current company is fully-owned, and they also have at least one fully-owned subsidiary.
**Sell subsidiary: Instruct the current subsidiary to sell the totality of one of their subsidiaries. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you sell. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if the current subsidiary has at least one subsidiary. Note that the current subsidiary receives the money, '''not''' you!
**Set [[dividend]] per share: Select the amount of dividends per share you wish to receive each quarter. You can only pay regular dividends from [[Retained Earnings|retained earnings]].
**Pay [[Extraordinary Dividend|extraordinary dividend]]: Select the number of millions you wish to receive as an immediate cash dividend. It also shows the estimated [[duration]] of assets after the transaction.
**Borrow money: Select the number of millions the company will borrow from the bank. You will be shown the estimated duration of debt after the transaction and the current interest rate on bank [[Loan|loans]]. It is important to note that bank loans have a floating [[Interest Rate|interest rate]], meaning that it gets updated every turn based on the general interest rate and the company's credit rating. The maximum allowed amount to borrow is limited by the line of credit.
**Repay loan: Select the number of millions the company will repay from bank loans. You will be shown the estimated duration of debt after the transaction. The maximum allowed to repay is given by your current cash balance and the total bank debt.
**Choose new CEO: This will open the [[CEO Table|CEO table]], from where you can select a new CEO. See the corresponding page for more details
**[[Change Company Name|Change company name.]]
**[[Change Company Symbol|Change company symbol.]]
**Issue [[Bond|bonds]]: When issuing bonds, you need to select the years to maturity (between 1 and 100 years), the amount to raise in millions, and, optionally, you can use part of the proceedings to repay some of the bank loans. When modifying those values, you will get updated information regarding the estimated new duration of debt, the interest rate on the bonds and the company's credit rating after the issuance. The minimum amount to raise is $100M and the maximum is given by the line of credit.
**Buy back bonds: This will open the [[Buy Back Bonds Table]], from where you can choose which bonds you wish to buy back, and how much. See the corresponding page for more details.
**[[Tax-free Liquidation|Tax-free liquidation]]: This action allows you to perform a tax-free liquidation of one of the current subsidiary's [[Fully-owned Subsidiary|fully-owned subsidiaries]]. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can merge into the current company. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the operation, or cancel to go back to the panel. This action is only shown if the current subsidiary has at least one fully-owned subsidiary.
**[[Issue New Shares|Issue new shares]]: Select the amount to raise in millions to raise as product of issuing new shares. By doing this, you will [[Stock Dilution|reduce your percentage of ownership]] in the current subsidiary. By changing the amount to raise, you will see the estimated percentage of ownership after the transaction. If this goes below 50%, you will be shown a warning indicating that you will lose control of the company. Once the current subsidiary issues new shares, it needs to wait at least 12 months before a new issuance of shares can be done. Also, the maximum amount to raise is limited to 5% of the subsidiary's market cap.
**[[Stock Buyback|Buy back stock]]: Select the amount in millions you wish the subsidiary to buy back from the public. This will increase your stake in the company. By changing the amount to buyback, you will see the estimated percentage of ownership after the transaction. The maximum amount to buyback is restricted by the company's cash balance and the amount of shares available to the public.
**Company strategy: You can allow or disallow the subsidiary to perform the following operations:
***Do acquisition?: If selected, the company will attempt to perform acquisitions. This is influenced by the CEO's acquisition focus. Otherwise, the company won't attempt to do any acquisitions.
***Optimize [[Cost of Capital|cost of capital]]?:If selected, the company to try to optimize their cost of capital by taking/repaying loans, issuing bonds or buying them back. This is also influenced by the CEO's debt tolerance. See the [[Cost of Capital|Cost of Capital page]] for more details.
***[[Capital Allocation Optimization|Optimize capital allocation]]?: If selected, the subsidiary will move money around with their subsidiaries to maximize the overall market value. See the [[Capital Allocation Optimization|Capital Allocation Optimization page]] for details about how is this done in the game. Regardless of the selection, this only will be attempted if the subsidiary itself has subsidiaries.
== Strategy tips ==

* The [[Debt Average Interest Rate.|Debt average interest rate]] considers the whole current company, including subsidiaries. Even though the company itself may be paying little interest on debt, this number may be higher if some of their subsidiaries may be paying more interest on their debt. Additionally, this number may be higher if the company issued bonds with a high coupon payment.
* Regarding debt, bank loans have variable interest rates, while bonds have a fixed interest based on coupon payments.Thus, you can "lock" a good interest rate by issuing bonds when interest rates are low (and your company has good credit rating), even if you may not need the money in the short term.
* New CEOs are periodically spawned, so it can be a good idea to look at it periodically if you are looking for a better CEO than the current one (or if the current CEO is about to retire. In this game, all CEOs retire at 65 years).
* A high amount of non-operating assets may be a product of a big project with high capital requirements fails. Companies can later use those assets for new projects (see the [[Projects Panel]] for details). Companies won't sell non-operating assets unless they are in [[Bankruptcy|financial distress]].
* Tax-free liquidations are very useful when you wish to consolidate your companies. Additionally, by merging two companies, the bigger company will have a higher [[Market Share|market share]], which can unlock powerful [[Economies of Scale Benefits|economies of scale benefits]]. Since companies can start at most one new project per turn, this means that by merging companies you lose "project capacity" sort of speak. Thus, it only makes sense to do tax-free liquidations when either both companies are relatively big, or one company has big [[Tax Loss Carryovers|tax loss carryovers]] that won't be used in its totality (maybe because the company shrank and has now huge tax loss carryovers which cannot use).

== Related concepts ==

* [[Company Info Panel|Company Info Panel.]]

[[Category:Game Concepts]]

Subsidiary Management Panel

2025-03-24T16:35:40Z

Rbazaes:

== Description ==
From here, you can manage your [[subsidiary]]. This panel is comprised of three parts:

* '''CEO information table:''' It shows information regarding the current CEO. See the [[CEO|CEO page]] for more details regarding the stats appearing in this table.
* '''Private company information table:''' This table shows the following data:
** Cash balance: similar to the player cash appearing in the [[Dashboard Panel]], this amounts doesn't include the subsidiaries' money.
** Non-operating assets: business assets not used in any project. They can be used for future projects.
** [[Tax Loss Carryovers|Tax loss carryovers.]]
** Total bank loans (not including subsidiaries' loans).
** Total (market value) bond debt (not including subsidiaries' bonds).
** [[Line of Credit|Line of credit.]]
** [[Debt Average Interest Rate.|Debt average interest rate.]]
** [[Duration]] of assets (in months).
** [[Duration]] of debt (in months).
** Current [[Cost of Capital|cost of capital]].
** Optimal [[Cost of Capital|cost of capital]].
** Current [[Debt-to-equity Ratio|debt/equity]] ratio.
** Optimal [[Debt-to-equity Ratio|debt/equity]] ratio.
** Borrow/repay for optimal ratio (positive value for borrowing, negative for repay).
*'''Subsidiary management action buttons:'''
**[[Capital Contribution|Capital contribution]]: Select the number of millions you wish to transfer to your subsidiary. It also shows the estimated [[duration]] of assets after the transaction. The maximum allowed to transfer is given by your current cash balance.
**[[Stock Contribution|Stock contribution]]: This action allows you to transfer one of your [[Fully-owned Subsidiary|fully-owned subsidiaries]] to the target companies. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can transfer. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if you have at least one fully-owned subsidiary different from the current company (otherwise there is no other company to transfer).
**Transfer subsidiary: This is a sort of opposite of a stock contribution. This action allows you to transfer one of the selected company's [[Fully Owned Subsidiary|fully-owned subsidiaries]] to the target companies. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can transfer to yourself. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if the current company is fully-owned, and they also have at least one fully-owned subsidiary.
**Sell subsidiary: Instruct the current subsidiary to sell the totality of one of their subsidiaries. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you sell. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if the current subsidiary has at least one subsidiary. Note that the current subsidiary receives the money, '''not''' you!
**Set [[dividend]] per share: Select the amount of dividends per share you wish to receive each quarter. You can only pay regular dividends from [[Retained Earnings|retained earnings]].
**Pay [[Extraordinary Dividend|extraordinary dividend]]: Select the number of millions you wish to receive as an immediate cash dividend. It also shows the estimated [[duration]] of assets after the transaction.
**Borrow money: Select the number of millions the company will borrow from the bank. You will be shown the estimated duration of debt after the transaction and the current interest rate on bank [[Loan|loans]]. It is important to note that bank loans have a floating [[Interest Rate|interest rate]], meaning that it gets updated every turn based on the general interest rate and the company's credit rating. The maximum allowed amount to borrow is limited by the line of credit.
**Repay loan: Select the number of millions the company will repay from bank loans. You will be shown the estimated duration of debt after the transaction. The maximum allowed to repay is given by your current cash balance and the total bank debt.
**Choose new CEO: This will open the [[CEO Table|CEO table]], from where you can select a new CEO. See the corresponding page for more details
**[[Change Company Name|Change company name.]]
**[[Change Company Symbol|Change company symbol.]]
**Issue [[Bond|bonds]]: When issuing bonds, you need to select the years to maturity (between 1 and 100 years), the amount to raise in millions, and, optionally, you can use part of the proceedings to repay some of the bank loans. When modifying those values, you will get updated information regarding the estimated new duration of debt, the interest rate on the bonds and the company's credit rating after the issuance. The minimum amount to raise is $100M and the maximum is given by the line of credit.
**Buy back bonds: This will open the [[Buy Back Bonds Table]], from where you can choose which bonds you wish to buy back, and how much. See the corresponding page for more details.
**[[Tax-free Liquidation|Tax-free liquidation]]: This action allows you to perform a tax-free liquidation of one of the current subsidiary's [[Fully-owned Subsidiary|fully-owned subsidiaries]]. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can merge into the current company. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the operation, or cancel to go back to the panel. This action is only shown if the current subsidiary has at least one fully-owned subsidiary.
**[[Issue New Shares|Issue new shares]]: Select the amount to raise in millions to raise as product of issuing new shares. By doing this, you will [[Stock Dilution|reduce your percentage of ownership]] in the current subsidiary. By changing the amount to raise, you will see the estimated percentage of ownership after the transaction. If this goes below 50%, you will be shown a warning indicating that you will lose control of the company. Once the current subsidiary issues new shares, it needs to wait at least 12 months before a new issuance of shares can be done. Also, the maximum amount to raise is limited to 5% of the subsidiary's market cap.
**[[Stock Buyback|Buy back stock]]: Select the amount in millions you wish the subsidiary to buy back from the public. This will increase your stake in the company. By changing the amount to buyback, you will see the estimated percentage of ownership after the transaction. The maximum amount to buyback is restricted by the company's cash balance and the amount of shares available to the public.
**Company strategy: You can allow or disallow the subsidiary to perform the following operations:
***Do acquisition?: If selected, the company will attempt to perform acquisitions. This is influenced by the CEO's acquisition focus. Otherwise, the company won't attempt to do any acquisitions.
***Optimize [[Cost of Capital|cost of capital]]?:If selected, the company to try to optimize their cost of capital by taking/repaying loans, issuing bonds or buying them back. This is also influenced by the CEO's debt tolerance. See the [[Cost of Capital|Cost of Capital page]] for more details.
***[[Capital Allocation Optimization|Optimize capital allocation]]?: If selected, the subsidiary will move money around with their subsidiaries to maximize the overall market value. See the [[Capital Allocation Optimization|Capital Allocation Optimization page]] for details about how is this done in the game. Regardless of the selection, this only will be attempted if the subsidiary itself has subsidiaries.
== Strategy tips (optional) ==
If applicable

== Related concepts (optional) ==

* [[Main Menu]]
* [[Finance Interactive]]

[[Category:Game Concepts]]

Subsidiary Management Panel

2025-03-24T16:20:12Z

Rbazaes:

Subsidiary Management Panel

2025-03-24T16:13:31Z

Rbazaes:

Subsidiary Management Panel

2025-03-24T16:09:44Z

Rbazaes:

Subsidiary Management Panel

2025-03-24T16:07:45Z

Rbazaes:

Subsidiary Management Panel

2025-03-24T16:01:00Z

Rbazaes:

Subsidiary Management Panel

2025-03-24T15:51:45Z

Rbazaes:

== Description ==
From here, you can manage your subsidiary. This panel is comprised of three parts:

* '''CEO information table:''' It shows information regarding the current CEO. See the [[CEO|CEO page]] for more details regarding the stats appearing in this table.
* '''Private company information table:''' This table shows the following data:
** Cash balance: similar to the player cash appearing in the [[Dashboard Panel]], this amounts doesn't include the subsidiaries' money.
** Non-operating assets: business assets not used in any project. They can be used for future projects.
** [[Tax Loss Carryovers|Tax loss carryovers.]]
** Total bank loans (not including subsidiaries' loans).
** Total (market value) bond debt (not including subsidiaries' bonds).
** [[Line of Credit|Line of credit.]]
** [[Debt Average Interest Rate.|Debt average interest rate.]]
** [[Duration]] of assets (in months).
** [[Duration]] of debt (in months).
** Current [[Cost of Capital|cost of capital]].
** Optimal [[Cost of Capital|cost of capital]].
** Current [[Debt-to-equity Ratio|debt/equity]] ratio.
** Optimal [[Debt-to-equity Ratio|debt/equity]] ratio.
** Borrow/repay for optimal ratio (positive value for borrowing, negative for repay).
*'''Subsidiary management action buttons:'''
**[[Capital Contribution|Capital contribution]]: Inject capital to your subsidiary. It also shows the estimated [[duration]] of assets after the transaction.
**[[Stock Contribution|Stock contribution]]: This action allows you to transfer one of your [[Fully-owned Subsidiary|fully-owned subsidiaries]] to the target companies. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can transfer. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if you have at least one fully-owned subsidiary different from the current company (otherwise there is no other company to transfer).
**Transfer subsidiary: This is a sort of opposite of a stock contribution. This action allows you to transfer one of the selected company's [[Fully Owned Subsidiary|fully-owned subsidiaries]] to the target companies. When clicking on the button, you will be shown the [[Diagram of Holdings]]. In red, it is colored the current company and in green are shown the companies you can transfer to yourself. After you choose a company, you will be prompted to confirm the operation. Press ''confirm'' to confirm the transfer, or cancel to go back to the panel. This action is only shown if the current company is fully-owned, and they also have at least one fully-owned subsidiary.
**Set [[dividend]] per share: Select the amount of dividends per share you wish to receive each quarter. You can only pay regular dividends from [[Retained Earnings|retained earnings]].
**Pay [[Extraordinary Dividend|extraordinary dividend]]: Select the number of millions you wish to receive as an immediate cash dividend. It also shows the estimated [[duration]] of assets after the transaction.
**
== Strategy tips (optional) ==
If applicable

== Related concepts (optional) ==

* [[Main Menu]]
* [[Finance Interactive]]

[[Category:Game Concepts]]

Subsidiary Management Panel

2025-03-24T15:40:55Z

Rbazaes:

Subsidiary Management Panel

2025-03-24T15:31:43Z

Rbazaes: Created page with "== Description == From here, you can manage your subsidiary. This panel is comprised of three parts: * '''CEO information table:''' It shows information regarding the current CEO. See the CEO page for more details regarding the stats appearing in this table. * '''Private company information table:''' This table shows the following data: ** Cash balance: similar to the player cash appearing in the Dashboard Panel, this amounts doesn't include the subsidiaries..."

Corporate Finance

2025-03-24T15:20:29Z

Rbazaes:

== Academic definition ==
Corporate finance is a branch of finance that focuses on how corporations manage capital structure, investment decisions, and value creation for shareholders. It deals with decisions on financing (debt vs. equity), capital budgeting (which projects to invest in), and dividend policy (how profits are distributed). The goal is to maximize firm value, typically modeled via the [[Net Present Value|Net Present Value (NPV)]] of future cash flows:

<math display="block">\text{NPV} = \sum_{t=1}^{N}\frac{\text{FCF}_t}{(1+\text{WACC})^t } - I,</math>
where <math display="inline">\text{FCF}_t</math> is the free cash flow at time t, ''WACC'' is the weighted average cost of capital, and ''I'' is initial investment. Other important concepts include the Modigliani-Miller theorem, which explores capital structure irrelevance under perfect markets.

== Simplified explanation ==
Corporate finance is about how companies decide what to invest in, how to pay for it (with loans or investor money), and how to make sure the business grows and creates value.

== How it appears in the game ==
As a [[CEO]] of a company, you will have to deal with many concepts in corporate finance to maximize your profits. Understanding how everything fits together is one of the objectives of this game.

== References ==

* Arnold, G. (2005). ''Handbook of Corporate Finance: A Business Companion to Financial Markets, Decisions and Techniques''. Financial Times Prentice Hall.
* Berk, J. B., & DeMarzo, P. M. (2007). ''Corporate finance''. Pearson Education.
* Damodaran, A. (2014). ''Applied corporate finance''. John Wiley & Sons.
* [[wikipedia:Corporate_finance|Corporate Finance (Wikipedia).]]

== Related concepts ==
* [[Finance]]
* [[Finance Interactive]]

[[Category:Finance Concepts]]

Mail Inbox

2025-03-24T15:20:14Z

Rbazaes:

== Description ==
The Inbox is the place where you will receive important messages from your employees (or the [[Antitrust Regulations|government]]). At the start of the game, you will always have a Welcome message from [https://rodrigobazaes.com me].

The Inbox is split into three main columns:

* The left column is the navigation panel. There are three main sections: ''Inbox'', ''Sent'' and ''Junk & Spam''. As of now, all messages are in the ''Inbox'' category.
* The middle column allows you to choose the mail to look at.
* The right column shows the full e-mail.

There are two types of e-mails:

* Text-only e-mails: these are mainly for informational purposes. For example, if a [[CEO]] of one of the companies you control retires, you will get an email informing you about that.
* Action required e-mails: these emails will ask you to make a decision. You cannot move to the the next turn until you have chosen a decision (the [[Next Turn Button|Next Turn's]] button text will say ''[[Action Required|Action required]]''). One example of those e-mails is when you own a majority of another company's bonds and it defaults. You can decide either to get whatever cash you can recover, or do a [[Debt-for-equity Swap|Debt-for-equity swap]].

== Real-world parallel ==

* [[wikipedia:Apple_Mail|Apple Mail.]]
* [[wikipedia:Outlook.com|Microsoft Outlook.]]

== Related concepts ==

* [[Middle Left Buttons]]

[[Category:Game Concepts]]

Insurance

2025-03-24T15:19:56Z

Rbazaes:

== Academic definition ==
Insurance is a financial contract wherein a policyholder pays premiums to an insurer in exchange for compensation for specified losses, contingent upon uncertain events (risk pooling). The insurer uses actuarial science to estimate expected losses, typically via the expected value:

<math display="block">\mathbb{E}[L] = \sum_{i=1}^{N} p_i \cdot L_i,</math>

where <math display="inline">p_i</math> is the probability of loss <math display="inline">L_i</math>. Insurers manage risk through diversification, reinsurance, and reserves. Premiums are priced to cover expected losses, administrative costs, and profit margins, while adhering to solvency requirements and regulatory frameworks.

== Simplified explanation ==
Insurance is a way to protect against big, unexpected costs by paying a small, regular fee so that if something bad happens, you get help covering the loss.

== How it appears in the game ==
You play as a [[CEO]] of an insurance company, so you can delve deep into the main ideas behind the insurance business: collecting money from premiums, invest it to obtain a profit while keeping an eye on staying solvent.

== References ==

* [[wikipedia:Insurance|Insurance (Wikipedia).]]

== Related concepts ==
* [[Finance]]
* [[Finance Interactive]]

[[Category:Finance Concepts]]

Financial News Table

2025-03-24T15:19:25Z

Rbazaes:

== Description ==
The Financial News is the place where you get all major events happening in the Finance Interactive Universe. Whether a company is issuing bonds, stocks, doing major investment projects or acquisitions, this will appear here. This can be the starting point when doing research about a company, or the confirmation you are doing the right decision.

For more specific information, you can use either the search bar, or the filter button. The latter has the following filters available:

* Last year’s news.
* Last 3 years' news.
* Last 5 years' news.
* News type (choose one of the following: [[Bankruptcy]], [[CEO]], Economy, Margin Calls, Projects, Financial transaction, Management decision, or [[Merger]])
* Subsidiaries and player only (namely, only show news regarding you and your current subsidiaries

TODO: maybe we should add all the possible news possible, but even I don't know at this point. I'd have to track manually all the times we add news.

== Strategy tips ==

* Companies announce their big projects, together with the time of development. You can time that to invest right before the results of the investment are published.

== Real-world parallel ==
[[wikipedia:Financial_Times|The Financial Times]], [[wikipedia:Business_Insider|Business Insider]], [[wikipedia:Forbes|Forbes Magazine]], [[wikipedia:The_Wall_Street_Journal|The Wall Street Journal]], etc.

== Related concepts ==

* [[Dashboard Panel]]

[[Category:Game Concepts]]

Trade Actions

2025-03-24T15:12:42Z

Rbazaes:

== Description ==
There are five main trade actions possible regarding [[Stock|stocks]]:

* '''Buy from public:''' This allows you to buy stock from ''The Public'' (assuming there are available shares). You can see the amount of shares owned by the public in the ''financial overview table'' located in the [[Company Info Panel|Company Info Panel.]] Once you click this button, you will be prompted to select the percentage of ownership you wish to have. You will also be shown the cost of the transaction.
* '''Acquire control from parent:''' This allows to take control a company controlled by [[Parent Company|another company.]] As a rule, companies will ask you a premium over the current market price, as well as a minimum percentage of purchase. Additionally, you will be shown the cost of the transaction. You are free to choose whatever values for the premium and the percentage to buy, but it will very unlikely that the counterparty will accept your proposal if it goes below what they are asking. There are two possible outcomes from this operation (after you click ''confirm''):
** Success: in this case, the ''financial overview table'' will be updated and your company will appears the new parent company.
** Failure: in this case, you will be shown a message regarding the parent company rejecting your offer. This won't have any cost for you, but you won't be able to try to acquire the same company in the current turn.
*'''Sell stock:''' Select the amount of percentage you wish to sell of the company. This percentage is always relative to the total company, not your relative position. Example: if you own 10% of a company and you select to sell 3%, your ownership will be now 7%. You will also be shown the cost of the transaction (in this case, the pre-tax money you will receive).
*'''Sell stock short''': Select the percentage you wish to [[Short Selling|sell short.]] You can only short shares available to the public. Shorting has an annual fee relative to the company's market cap, which increases with the proportion of available shares to the public you wish to short. The minimum fee is 1% and the maximum one is 20%, which is deducted each month. Example: If 5% of the company is available to the public and you wish to short the full 5%, then the annual fee will be 20% of the company's market cap, deducted each month.
*'''Cover short position:''' Select the percentage you wish to cover from your short position.
All stock transactions are done in percentages of the total amount of shares. The minimum non-zero transaction amounts to 0.01% of the total shares. For the action ''Acquire control from parent'', the minimum percentage to buy is 50.01%.

'''Additional remarks:'''

* When buying or shorting, the program will check whether you [[Solvency Ratio|solvency ratio]] will go below the minimum required to keep playing. If so, the transaction will be denied and it will be shown the hypothetical solvency ratio you would get from that transaction. If you are performing the ''Acquire control from parent'' action and it fails because of your solvency ratio going too low, you can still try it more times during the same turn (the one-per-turn restriction only applies if the transaction is denied due to a rejection from the parent).
* If you are shorting a company and at any point the percentage of shares available to the public is less than the percentage you are shorting, the program will automatically cover enough percentage. Example: you are shorting 10% of a company, and at some point the amount of shares available to the public drops to 6%. In that case, you will automatically have to cover 4% of your shorting position, registering a profit or loss depending on the situation. Also, the annual fee will be recalculated. In the previous example, the annual fee will be now 20% of the target company's market cap.

== Strategy tips ==

* Be careful with over-investing, specially in risky transactions such as shorting. You can become quickly insolvent if you go beyond your means.
* Shorting incurs in monthly fees, so it is usually a good idea to avoid keeping open positions for too long. Even though you may have an unrealized profit, the shorting fees may cancel and even make the whole operation unprofitable. Also, pay attention if the company you are shorting start being bought since this will affect the amount of available shares for shorting. This will increase the fees, and you may be forced to cover the position prematurely.

== Real-world parallel ==

* [[wikipedia:Interactive_Brokers|Interactive Brokers.]]
* [[wikipedia:EToro|eToro.]]
* [[wikipedia:Saxo_Bank|Saxo.]]

== Related concepts ==

* [[Company Info Panel|Company Info Panel.]]

[[Category:Game Concepts]]

Trade Actions

2025-03-24T14:58:43Z

Rbazaes:

== Description ==
There are five main trade actions possible regarding [[Stock|stocks]]:

* '''Buy from public:''' This allows you to buy stock from ''The Public'' (assuming there are available shares). You can see the amount of shares owned by the public in the ''financial overview table'' located in the [[Company Info Panel|Company Info Panel.]] Once you click this button, you will be prompted to select the percentage of ownership you wish to have. You will also be shown the cost of the transaction.
* '''Acquire control from parent:''' This allows to take control a company controlled by [[Parent Company|another company.]] As a rule, companies will ask you a premium over the current market price, as well as a minimum percentage of purchase. Additionally, you will be shown the cost of the transaction. You are free to choose whatever values for the premium and the percentage to buy, but it will very unlikely that the counterparty will accept your proposal if it goes below what they are asking. There are two possible outcomes from this operation (after you click ''confirm''):
** Success: in this case, the ''financial overview table'' will be updated and your company will appears the new parent company.
** Failure: in this case, you will be shown a message regarding the parent company rejecting your offer. This won't have any cost for you, but you won't be able to try to acquire the same company in the current turn.
*'''Sell stock:''' Select the amount of percentage you wish to sell of the company. This percentage is always relative to the total company, not your relative position. Example: if you own 10% of a company and you select to sell 3%, your ownership will be now 7%. You will also be shown the cost of the transaction (in this case, the pre-tax money you will receive).
*'''Sell stock short''': Select the percentage you wish to [[Short Selling|sell short.]] You can only short shares available to the public. Shorting has an annual fee relative to the company's market cap, which increases with the proportion of available shares to the public you wish to short. The minimum fee is 1% and the maximum one is 20%, which is deducted each month. Example: If 5% of the company is available to the public and you wish to short the full 5%, then the annual fee will be 20% of the company's market cap, deducted each month.
*'''Cover short position:''' Select the percentage you wish to cover from your short position.
All stock transactions are done in percentages of the total amount of shares. The minimum non-zero transaction amounts to 0.01% of the total shares. For the action ''Acquire control from parent'', the minimum percentage to buy is 50.01%.

'''Additional remarks:'''

* When buying or shorting, the program will check whether you [[Solvency Ratio|solvency ratio]] will go below the minimum required to keep playing. If so, the transaction will be denied and it will be shown the hypothetical solvency ratio you would get from that transaction. If you are performing the ''Acquire control from parent'' action and it fails because of your solvency ratio going too low, you can still try it more times during the same turn (the one-per-turn restriction only applies if the transaction is denied due to a rejection from the parent).
* If you are shorting and at any point the percentage of shares available to the public is less than the percentage you are shorting, the program will automatically cover enough percentage. Example: you are shorting 10% of a company, and at some point the amount of shares available to the public drops to 6%. In that case, you will automatically have to cover 4% of your shorting position, registering a profit or loss depending on the situation. Also, the annual fee will be recalculated. In the previous example, the annual fee will be now 20% of the target company's market cap.

== Strategy tips (optional) ==
If applicable

== Real-world parallel (optional) ==
If applicable. Explain differences and similitudes with the real-world version.

== Related concepts ==

* [[Company Info Panel|Company Info Panel.]]

[[Category:Game Concepts]]

Trade Actions

2025-03-24T14:12:18Z

Rbazaes: Created page with "== Description == There are four main trade actions possible regarding stocks: * '''Buy from public:''' this allows you to buy stock from ''The Public'' (assuming there are available shares). You can see the amount of shares owned by the public in the ''financial overview table'' located in the Company Info Panel. Once you click this button, you will be prompted to select the percentage of ownership you wish to con As of now, there is n..."

== Description ==
There are four main trade actions possible regarding [[Stock|stocks]]:

* '''Buy from public:''' this allows you to buy stock from ''The Public'' (assuming there are available shares). You can see the amount of shares owned by the public in the ''financial overview table'' located in the [[Company Info Panel|Company Info Panel.]] Once you click this button, you will be prompted to select the percentage of ownership you wish to con As of now, there is no transactions fees for this transaction, so you pay the current market price.
* '''Acquire control from parent:''' this allows to take control a company controlled by [[Parent Company|another company.]]

All stock transactions are done in percentages of the total amount of shares. The minimum non-zero transaction amounts to 0.01% of the total shares. For the action ''Acquire control from parent'', the minimum percentage to buy is 50.01%.

== Strategy tips (optional) ==
If applicable

== Real-world parallel (optional) ==
If applicable. Explain differences and similitudes with the real-world version.

== Related concepts ==

* [[Company Info Panel|Company Info Panel.]]

[[Category:Game Concepts]]

Stock Screener

2025-03-22T21:22:07Z

Rbazaes:

== Description ==
The stock screener is the first stop for trading stocks. Here, you have access to basic information regarding all the companies in the game (the only exception is your company). In contrast to the real world, you can see both private and publicly traded companies (since you can still buy private companies).

Click on any row to access its [[Company Info Panel|Company Info Panel.]]

Each row of the stock screener shows the following information:

* '''Symbol:''' The stock symbol of a company, a unique sequence of 1-4 alphanumeric characters (all capitalized).
* '''Name:''' The corporation's name. Also uniquely determined (although case sensitive). Thus, "Abc" and "ABC" are both valid company names.
* '''Price''': the company's stock price.
* '''Change ($):''' The price change relative to the previous month.
* '''Change (%)''': The price variation in percentage terms relative to the previous month. It is computed as <math display="inline">100 \times \frac{\text{Current Price} - \text{Previous Price}}{\text{Previous Price}}</math>.
* [[Market Cap|Market Cap.]]
* [[P/E Ratio|P/E Ratio.]]
* [[Debt-to-equity Ratio|Debt/Equity Ratio.]]
* [[Dividend Yield|Dividend Yield.]]
The color of the price, change ($) and change(%) will turn green or red depending on whether the change is positive or negative.

By clicking on the headers of the table, you can also sort the tables either ascending or descending.

For filtering the table, you can use either the search bar (which filters by the issuing entity) or the ''filter button''. The latter has the following filtering options:

* Price: Between min and max.
* Market cap ($M): Between min and max millions.
* P/E ratio: Between min and max.
* Debt/Equity ratio: Between min and max.
* Dividend yield (%): Between min and max.
* Credit rating: Select one or more credit ratings you want to filter.
* Own stock: Use this to select only stocks you own ([[Short Selling|shorting]] is '''not''' included).
* Not controlled: Use this to select only companies that are not controlled (a company is controlled if any single entity owns more than 50% of the company).
* Shorted by the player: Use this to select only companies you are currently shorting.
* Number of [[Subsidiary|subsidiaries]]: Between min and max.
* [[Tax Loss Carryovers|Tax loss carryovers]] ($M): Between min and max millions.
* One-year return (%): Between min% and max%.
* Three-year return (%): Between min% and max%.
* Five-year return (%): Between min% and max%.

For filtering parameters between min and max, by leaving min empty, you select all rows whose value is less or equal than max. Similarly, by leaving max empty, you select all rows whose value is larger or equal than min (leaving both empty is equal to having no filter at all).

Click ''confirm'' to filter the table or ''cancel'' to cancel the filtering. Also, you can click the ''Clear all'' button to reset all filter parameters (still, you need to click ''confirm'' to remove the filters!).

== Real-world parallel ==

* [https://finance.yahoo.com/research-hub/screener Yahoo Finance Screener.]
* [https://finviz.com/screener.ashx Finviz Screener.]

== Related concepts ==

* [[Investments Panel|Investments Panel.]]
* [[Company Info Panel|Company Info Panel.]]
* [[Bonds Table|Bonds Table.]]

[[Category:Game Concepts]]

Company Info Panel

2025-03-22T21:17:29Z

Rbazaes:

== Description ==
The Company Info Panel is an all-in-one stop where you can research and trade a given company. Additionally, if you control more than 50% of the company, you will have access to special private information, as well as managing it.

This panel is organized in the following windows:

* '''Overview window:'''
** '''Buy/Sell stock:''' See the [[Trade Actions|Trade Actions page]] for detailed information about the financial transactions available.
** '''Show price chart button:''' Clicking on it lets you see your company's stock price history. You can select between the following time frames: 1 year, 3 yeas, 5 years and 10 years. The stock chart will be colored green or red depending on whether the price went up or down during that period.
** '''Show diagram of holdings button:''' Click here to see your [[Diagram of Holdings]].
** '''Financial overview table:''' It contains the following data:
** Stock price.
** Shares outstanding.
** [[Market cap|Market cap.]]
** [[Market Share|Market share.]]
** [[P/E Ratio|P/E ratio.]]
** [[Debt-to-equity Ratio|Debt/Equity ratio.]]
** [[Credit Rating|Credit rating.]]
** Dividend Yield (%).
** Owned by player (%).
** Unrealized gain (loss): Computed as the difference between the current market value of the stock holding and the [[Cost Basis|cost basis]] of the investment.
** Owned by the public (%): The percentage of the company not owned by the player or other companies.
** Controlled by: The name of the [[Parent Company|parent company]], if exists (and "None" otherwise).
** [[Profit Margin|Profit margin]] [[Trailing Twelve Months (TTM)|(ttm).]]
** [[Operating Margin|Operating margin]] [[Trailing Twelve Months (TTM)|(ttm).]]
** [[Beta (5Y)]].
** [[Stock Return|One-year return (%).]]
** [[Stock Return|Three-year return (%).]]
** [[Stock Return|Five-year return (%).]]
** [[Compound Annual Growth Rate (CAGR)|Compound annual growth rate (5Y).]]
*'''Balance sheet window:''' This window displays both the current [[Balance Sheet|balance sheet]] as well as the historical quarterly and annual balance sheets from the last 10 years.
*'''Income statement window:''' This window displays both the current [[Income Statement|income statement]] as well as the historical quarterly and income statements sheets from the last 10 years.
*'''Cash flow statement window:''' This window displays both the current [[Cash Flow Statement|cash flow statement]] as well as the historical quarterly and annual statements of cash flows from the last 10 years.
*[[Subsidiary Management Panel|Management window (only if controlling the company).]]
*[[Projects Panel|Projects window (only if controlling the company).]]

== Real-world parallel ==

* [[wikipedia:Bloomberg_Terminal|Bloomberg Terminal.]]

== Related concepts ==

* [[Stock Screener|Stock Screener.]]

[[Category:Game Concepts]]

Diagram of Holdings

2025-03-22T21:15:52Z

Rbazaes: Created page with "== Description == The diagram of holdings is a tree-like visual representation of a corporate entity. A corporate entity consists of a Parent company at the root of the tree, together with 0 or more subsidiaries. Each subsidiary can, in turn, own 0 or more subsidiaries and so on. In the diagram of holdings, each node shows the following information: * Company name. * Market Cap. * For subsidiari..."

== Description ==
The diagram of holdings is a [[wikipedia:Tree_(abstract_data_type)|tree-like]] visual representation of a corporate entity. A corporate entity consists of a [[Parent Company|Parent company]] at the root of the tree, together with 0 or more [[Subsidiary|subsidiaries]]. Each subsidiary can, in turn, own 0 or more subsidiaries and so on.

In the diagram of holdings, each node shows the following information:

* Company name.
* Market Cap.
* For subsidiaries, the percentage owned by the parent. Example: Suppose Company A is at the root of the tree and has a market cap of $1B. Suppose also that Company A owns 75% of Company B, which has a market cap of $100M. Then the node corresponding Company A would show ''Company A. $1B,'' while the node corresponding Company B would show ''Company B (75%). $100M.''

The Diagram of holdings can be accessed from the following places:

* The [[Financials Panel]].
* The [[Company Info Panel|Company Info Panel.]]
* Some actions in the [[Subsidiary Management Panel|Subsidiary Management Panel.]]

== Strategy tips ==

* On the diagram of holdings, clicking on any company will open their corresponding [[Company Info Panel]], while clicking on our company leads you to the [[Dashboard Panel]].
* In Finance Interactive, [[Cross Ownership|cross-holdings]] are not allowed, so the diagram is always a tree.

== Related concepts ==

* [[Financials Panel|Financials Panel.]]
* [[Company Info Panel|Company Info Panel.]]

[[Category:Game Concepts]]

Company Info Panel

2025-03-22T21:02:31Z

Rbazaes:

== Description ==
The Company Info Panel is an all-in-one stop where you can research and trade a given company. Additionally, if you control more than 50% of the company, you will have access to special private information, as well as managing it.

This panel is organized in the following windows:

* '''Overview window:'''
** '''Buy/Sell stock:''' See the [[Trade Actions|Trade Actions page]] for detailed information about the financial transactions available.
** '''Show price chart button:''' Clicking on it lets you see your company's stock price history. You can select between the following time frames: 1 year, 3 yeas, 5 years and 10 years. The stock chart will be colored green or red depending on whether the price went up or down during that period.
** '''Show diagram of holdings button:''' Click here to see your [[Diagram of Holdings]].
** '''Financial overview table:''' It contains the following data:
** Stock price.
** Shares outstanding.
** [[Market cap|Market cap.]]
** [[Market Share|Market share.]]
** [[P/E Ratio|P/E ratio.]]
** [[Debt-to-equity Ratio|Debt/Equity ratio.]]
** [[Credit Rating|Credit rating.]]
** Dividend Yield (%).
** Owned by player (%).
** Unrealized gain (loss): Computed as the difference between the current market value of the stock holding and the [[Cost Basis|cost basis]] of the investment.
** Owned by the public (%): The percentage of the company not owned by the player or other companies.
** Controlled by: The name of the [[Parent Company|parent company]], if exists (and "None" otherwise).
** [[Profit Margin|Profit margin]] [[Trailing Twelve Months (TTM)|(ttm).]]
** [[Operating Margin|Operating margin]] [[Trailing Twelve Months (TTM)|(ttm).]]
** [[Beta (5Y)]].
** [[Stock Return|One-year return (%).]]
** [[Stock Return|Three-year return (%).]]
** [[Stock Return|Five-year return (%).]]
** [[Compound Annual Growth Rate (CAGR)|Compound annual growth rate (5Y).]]
*'''Balance sheet window:''' This window displays both the current [[Balance Sheet|balance sheet]] as well as the historical quarterly and annual balance sheets from the last 10 years.
*'''Income statement window:''' This window displays both the current [[Income Statement|income statement]] as well as the historical quarterly and income statements sheets from the last 10 years.
*'''Cash flow statement window:''' This window displays both the current [[Cash Flow Statement|cash flow statement]] as well as the historical quarterly and annual statements of cash flows from the last 10 years.
*[[Subsidiary Management Panel|Management window (only if controlling the company).]]
*[[Projects Panel|Projects window (only if controlling the company).]]

== Real-world parallel ==

* [[wikipedia:Bloomberg_Terminal|Bloomberg Terminal.]]

== Related concepts ==

* [[Main Menu]]
* [[Finance Interactive]]

[[Category:Game Concepts]]

Financials Panel

2025-03-22T21:01:42Z

Rbazaes:

== Description ==
This panel contains your [[Financial Statement|financial statements]], as well as a an overview of your empire. It consists of 4 main windows:

* '''Overview window:'''
** '''Show price chart button:''' Clicking on it lets you see your company's stock price history. You can select between the following time frames: 1 year, 3 yeas, 5 years and 10 years. The stock chart will be colored green or red depending on whether the price went up or down during that period.
** '''Show diagram of holdings button:''' Click here to see your [[Diagram of Holdings]].
** '''Financial overview table:''' It contains the following data:
*** Stock price.
*** Shares outstanding (fixed at 100M shares as of now).
*** [[Market cap|Market cap.]]
*** [[P/E Ratio|P/E ratio.]]
*** [[Minimum Capital Required|Minimum capital required.]]
*** [[Available Capital (Insurance)|Available capital.]]
*** [[Solvency Ratio|Solvency ratio.]]
*** [[Beta (5Y)]].
** '''Balance sheet window:''' This window displays both the current [[Balance Sheet|balance sheet]] as well as the historical quarterly and annual balance sheets from the last 10 years.
** '''Income statement window:''' This window displays both the current [[Income Statement|income statement]] as well as the historical quarterly and income statements sheets from the last 10 years.
** '''Cash flow statement window:''' This window displays both the current [[Cash Flow Statement|cash flow statement]] as well as the historical quarterly and annual statements of cash flows from the last 10 years.

== Strategy tips ==

* Since your company is private, the market cap is the hypothetical one if it were publicly traded and it is used for comparisons only.
* The insurance company balance sheet is slightly different from the rest of ("industrial") companies. See the [[Balance Sheet]] page for a detailed explanation of how it is computed.

== Related concepts ==

* [[Middle Left Buttons|Middle Left Buttons.]]
* [[Financial Statement|Financial Statement.]]

[[Category:Game Concepts]]

Company Info Panel

2025-03-22T20:56:19Z

Rbazaes:

== Description ==
The Company Info Panel is an all-in-one stop where you can research and trade a given company. Additionally, if you control more than 50% of the company, you will have access to special private information, as well as managing it.

This panel is organized in the following windows:

* '''Overview window:'''
** '''Buy/Sell stock:''' See the [[Trade Actions|Trade Actions page]] for detailed information about the financial transactions available.
** '''Show price chart button:''' Clicking on it lets you see your company's stock price history. You can select between the following time frames: 1 year, 3 yeas, 5 years and 10 years. The stock chart will be colored green or red depending on whether the price went up or down during that period.
** '''Show diagram of holdings button:''' Click here to see your [[Diagram of Holdings]].
** '''Financial overview table:''' It contains the following data:
** Stock price.
** Shares outstanding.
** [[Market cap|Market cap.]]
** [[Market Share|Market share.]]
** [[P/E Ratio|P/E ratio.]]
** [[Debt-to-equity Ratio|Debt/Equity ratio.]]
** [[Credit Rating|Credit rating.]]
** Dividend Yield (%).
** Owned by player (%).
** Unrealized gain (loss): Computed as the difference between the current market value of the stock holding and the [[Cost Basis|cost basis]] of the investment.
** Owned by the public (%): The percentage of the company not owned by the player or other companies.
** Controlled by: The name of the [[Parent Company|parent company]], if exists (and "None" otherwise).
** [[Profit Margin|Profit margin]] [[Trailing Twelve Months (TTM)|(ttm).]]
** [[Operating Margin|Operating margin]] [[Trailing Twelve Months (TTM)|(ttm).]]
** [[Beta (5Y)]].
** [[Stock Return|One-year return (%).]]
** [[Stock Return|Three-year return (%).]]
** [[Stock Return|Five-year return (%).]]
** [[Compound Annual Growth Rate (CAGR)|Compound annual growth rate (5Y).]]
*'''Balance sheet window:''' This window displays both the current [[Balance Sheet|balance sheet]] as well as the historical quarterly and annual balance sheets from the last 10 years.
*'''Income statement window:''' This window displays both the current [[Income Statement|income statement]] as well as the historical quarterly and income statements sheets from the last 10 years.
*'''Cash flow statement window:''' This window displays both the current [[Cash Flow Statement|cash flow statement]] as well as the historical quarterly and annual statements of cash flows from the last 10 years.
*

== Strategy tips ==
If applicable

== Real-world parallel ==

* [[wikipedia:Bloomberg_Terminal|Bloomberg Terminal.]]

== Related concepts ==

* [[Main Menu]]
* [[Finance Interactive]]

[[Category:Game Concepts]]

Company Info Panel

2025-03-22T20:52:33Z

Rbazaes: Created page with "== Description == The Company Info Panel is an all-in-one stop where you can research and trade a given company. Additionally, if you control more than 50% of the company, you will have access to special private information, as well as managing it. This panel is organized in the following windows: * '''Overview window:''' ** '''Buy/Sell stock:''' See the Trade Actions page for detailed information about the financial transactions available. ** '''Sho..."

== Description ==
The Company Info Panel is an all-in-one stop where you can research and trade a given company. Additionally, if you control more than 50% of the company, you will have access to special private information, as well as managing it.

This panel is organized in the following windows:

* '''Overview window:'''
** '''Buy/Sell stock:''' See the [[Trade Actions|Trade Actions page]] for detailed information about the financial transactions available.
** '''Show price chart button:''' Clicking on it lets you see your company's stock price history. You can select between the following time frames: 1 year, 3 yeas, 5 years and 10 years. The stock chart will be colored green or red depending on whether the price went up or down during that period.
** '''Show diagram of holdings button:''' Click here to see your [[Diagram of Holdings]].
** '''Financial overview table:''' It contains the following data:
** Stock price.
** Shares outstanding.
** [[Market cap|Market cap.]]
** [[Market Share|Market share.]]
** [[P/E Ratio|P/E ratio.]]
** [[Debt-to-equity Ratio|Debt/Equity ratio.]]
** [[Credit Rating|Credit rating.]]
** Dividend Yield (%).
** Owned by player (%).
** Unrealized gain (loss): Computed as the difference between the current market value of the stock holding and the [[Cost Basis|cost basis]] of the investment.
** Owned by the public (%): The percentage of the company not owned by the player or other companies.
** Controlled by: The name of the [[Parent Company|parent company]], if exists (and "None" otherwise).
** [[Profit Margin|Profit margin]] [[Trailing Twelve Months (TTM)|(ttm).]]
** [[Operating Margin|Operating margin]] [[Trailing Twelve Months (TTM)|(ttm).]]
** [[Beta (5Y)]].
** [[Stock Return|One-year return (%).]]
** [[Stock Return|Three-year return (%).]]
** [[Stock Return|Five-year return (%).]]
** [[Compound Annual Growth Rate (CAGR)|Compound annual growth rate (5Y).]]

== Strategy tips ==
If applicable

== Real-world parallel ==

* [[wikipedia:Bloomberg_Terminal|Bloomberg Terminal.]]

== Related concepts ==

* [[Main Menu]]
* [[Finance Interactive]]

[[Category:Game Concepts]]

Financials Panel

2025-03-22T20:35:23Z

Rbazaes:

== Description ==
This panel contains your [[Financial Statement|financial statements]], as well as a an overview of your empire. It consists of 4 main windows:

* '''Overview window:'''
** '''Show price chart button:''' Clicking on it lets you see your company's stock price history. You can select between the following time frames: 1 year, 3 yeas, 5 years and 10 years. The stock chart will be colored green or red depending on whether the price went up or down during that period.
** '''Show diagram of holdings button:''' Click here to see your [[Diagram of Holdings]].
** '''Financial overview table:''' It contains the following data:
*** Stock price.
*** Shares outstanding (fixed at 100M shares as of now).
*** [[Market cap|Market cap.]]
*** [[P/E Ratio|P/E ratio.]]
*** [[Minimum Capital Required|Minimum capital required.]]
*** [[Available Capital (Insurance)|Available capital.]]
*** [[Solvency Ratio|Solvency ratio.]]
*** [[Beta (5Y)]].
** '''Balance sheet window:''' This window displays both the current [[Balance Sheet|balance sheet]] as well as the historical quarterly and annual balance sheets from the last 10 years.
** '''Income statement window:''' This window displays both the current [[Income Statement|income statement]] as well as the historical quarterly and income statements sheets from the last 10 years.
** '''Cash flow statement window:''' This window displays both the current [[Cash Flow Statement|cash flow statement]] as well as the historical quarterly and annual statements of cash flows from the last 10 years.

== Strategy tips ==

* On the diagram of holdings, clicking on any company will open their corresponding [[Company Info Panel]], while clicking on our company leads you to the [[Dashboard Panel]].
* Since your company is private, the market cap is the hypothetical one if it were publicly traded and it is used for comparisons only.
* The insurance company balance sheet is slightly different from the rest of ("industrial") companies. See the [[Balance Sheet]] page for a detailed explanation of how it is computed.

== Related concepts ==

* [[Middle Left Buttons|Middle Left Buttons.]]
* [[Financial Statement|Financial Statement.]]

[[Category:Game Concepts]]

Financials Panel

2025-03-22T20:34:18Z

Rbazaes:

== Description ==
This panel contains your [[Financial Statement|financial statements]], as well as a an overview of your empire. It consists of 4 main windows:

* '''Overview window:'''
** '''Show price chart button:''' Clicking on it lets you see your company's stock price history. You can select between the following time frames: 1 year, 3 yeas, 5 years and 10 years. The stock chart will be colored green or red depending on whether the price went up or down during that period.
** '''Show diagram of holdings button:''' Click here to see your [[Diagram of Holdings]].
** '''Financial overview table:''' containing the following data:
*** Stock price.
*** Shares outstanding (fixed at 100M shares as of now).
*** [[Market cap|Market cap.]]
*** [[P/E Ratio|P/E ratio.]]
*** [[Minimum Capital Required|Minimum capital required.]]
*** [[Available Capital (Insurance)|Available capital.]]
*** [[Solvency Ratio|Solvency ratio.]]
*** [[Beta (5Y)]].
** '''Balance sheet window:''' This window displays both the current [[Balance Sheet|balance sheet]] as well as the historical quarterly and annual balance sheets from the last 10 years.
** '''Income statement window:''' This window displays both the current [[Income Statement|income statement]] as well as the historical quarterly and income statements sheets from the last 10 years.
** '''Cash flow statement window:''' This window displays both the current [[Cash Flow Statement|cash flow statement]] as well as the historical quarterly and annual statements of cash flows from the last 10 years.

== Strategy tips ==

* On the diagram of holdings, clicking on any company will open their corresponding [[Company Info Panel]], while clicking on our company leads you to the [[Dashboard Panel]].
* Since your company is private, the market cap is the hypothetical one if it were publicly traded and it is used for comparisons only.
* The insurance company balance sheet is slightly different from the rest of ("industrial") companies. See the [[Balance Sheet]] page for a detailed explanation of how it is computed.

== Related concepts ==

* [[Middle Left Buttons|Middle Left Buttons.]]
* [[Financial Statement|Financial Statement.]]

[[Category:Game Concepts]]

Stock Screener

2025-03-22T20:21:00Z

Rbazaes:

== Description ==
The stock screener is the first stop for trading stocks. Here, you have access to basic information regarding all the companies in the game (the only exception is your company). In contrast to the real world, you can see both private and publicly traded companies (since you can still buy private companies).

Click on any row to access its [[Company Info Panel|Company Info Panel.]]

Each row of the stock screener shows the following information:

* '''Symbol:''' The stock symbol of a company, a unique sequence of 1-4 alphanumeric characters (all capitalized).
* '''Name:''' The corporation's name. Also uniquely determined (although case sensitive). Thus, "Abc" and "ABC" are both valid company names.
* '''Price''': the company's stock price.
* '''Change ($):''' The price change relative to the previous month.
* '''Change (%)''': The price variation in percentage terms relative to the previous month. It is computed as <math display="inline">100 \times \frac{\text{Current Price} - \text{Previous Price}}{\text{Previous Price}}</math>.
* [[Market Cap|Market Cap.]]
* [[P/E Ratio|P/E Ratio.]]
* [[Debt-to-equity Ratio|Debt/Equity Ratio.]]
* [[Dividend Yield|Dividend Yield.]]
The color of the price, change ($) and change(%) will turn green or red depending on whether the change is positive or negative.

By clicking on the headers of the table, you can also sort the tables either ascending or descending.

For filtering the table, you can use either the search bar (which filters by the issuing entity) or the ''filter button''. The latter has the following filtering options:

* Price: Between min and max.
* Market cap ($M): Between min and max millions.
* P/E ratio: Between min and max.
* Debt/Equity ratio: Between min and max.
* Dividend yield (%): Between min and max.
* Credit rating: Select one or more credit ratings you want to filter.
* Own stock: Use this to select only stocks you own ([[Short Selling|shorting]] is '''not''' included).
* Not controlled: Use this to select only companies that are not controlled (a company is controlled if any single entity owns more than 50% of the company).
* Shorted by the player: Use this to select only companies you are currently shorting.
* Number of [[Subsidiary|subsidiaries]]: Between min and max.
* [[Tax Loss Carryovers|Tax loss carryovers]] ($M): Between min and max millions.
* One-year return (%): Between min% and max%.
* Three-year return (%): Between min% and max%.
* Five-year return (%): Between min% and max%.

For filtering parameters between min and max, by leaving min empty, you select all rows whose value is less or equal than max. Similarly, by leaving max empty, you select all rows whose value is larger or equal than min (leaving both empty is equal to having no filter at all).

Click ''confirm'' to filter the table or ''cancel'' to cancel the filtering. Also, you can click the ''Clear all'' button to reset all filter parameters (still, you need to click ''confirm'' to remove the filters!).

== Strategy tips ==

== Real-world parallel ==

* [https://finance.yahoo.com/research-hub/screener Yahoo Finance Screener.]
* [https://finviz.com/screener.ashx Finviz Screener.]

== Related concepts ==

* [[Investments Panel|Investments Panel.]]
* [[Company Info Panel|Company Info Panel.]]
* [[Bonds Table|Bonds Table.]]

[[Category:Game Concepts]]

Stock Screener

2025-03-22T20:20:30Z

Rbazaes:

== Description ==
The stock screener is the first stop for trading stocks. Here, you have access to basic information regarding all the companies in the game (the only exception is your company). In contrast to the real world, you can see both private and publicly traded companies (since you can still buy private companies).

Click on any row to access its [[Company Info Panel|Company Info Panel.]]

Each row of the stock screener shows the following information:

* '''Symbol:''' The stock symbol of a company, a unique sequence of 1-4 alphanumeric characters (all capitalized).
* '''Name:''' The corporation's name. Also uniquely determined (although case sensitive). Thus, "Abc" and "ABC" are both valid company names.
* '''Price''': the company's stock price.
* '''Change ($):''' The price change relative to the previous month.
* '''Change (%)''': The price variation in percentage terms relative to the previous month. It is computed as <math display="inline">100 \times \frac{\text{Current Price} - \text{Previous Price}}{\text{Previous Price}}</math>.
* [[Market Cap|Market Cap.]]
* [[P/E Ratio|P/E Ratio.]]
* [[Debt-to-equity Ratio|Debt/Equity Ratio.]]
* [[Dividend Yield|Dividend Yield.]]
The color of the price, change ($) and change(%) will turn green or red depending on whether the change is positive or negative.

By clicking on the headers of the table, you can also sort the tables either ascending or descending.

For filtering the table, you can use either the search bar (which filters by the issuing entity) or the ''filter button''. The latter has the following filtering options:

* Price: Between min and max.
* Market cap ($M): Between min and max millions.
* P/E ratio: Between min and max.
* Debt/Equity ratio: Between min and max.
* Dividend yield (%): Between min and max.
* Credit rating: Select one or more credit ratings you want to filter.
* Own stock: Use this to select only stocks you own ([[Short Selling|shorting]] is '''not''' included).
* Not controlled: Use this to select only companies that are not controlled (a company is controlled if any single entity owns more than 50% of the company).
* Shorted by the player: Use this to select only companies you are currently shorting.
* Number of [[Subsidiary|subsidiaries]]: Between min and max.
* [[Tax Loss Carryovers|Tax loss carryovers]] ($M): Between min and max millions.
* One-year return (%): Between min% and max%.
* Three-year return (%): Between min% and max%.
* Five-year return (%): Between min% and max%.

For filtering parameters between min and max, by leaving min empty, you select all rows whose value is less or equal than max. Similarly, by leaving max empty, you select all rows whose value is larger or equal than min (leaving both empty is equal to having no filter at all).

Click ''confirm'' to filter the table or ''cancel'' to cancel the filtering. Also, you can click the ''Clear all'' button to reset all filter parameters (still, you need to click ''confirm'' to remove the filters!).

== Strategy tips ==

== Real-world parallel ==

* [https://finance.yahoo.com/research-hub/screener Yahoo Finance Screener.]
* [https://finviz.com/screener.ashx Finviz Screener.]

== Related concepts ==

* [[Investments Panel|Investments Panel.]]
* [[Company Info Panel|Company Info Panel.]]

[[Category:Game Concepts]]

Stock Screener

2025-03-22T19:56:20Z

Rbazaes: Created page with "== Description == The stock screener is the first stop for trading stocks. Here, you have access to basic information regarding all the companies in the game. In contrast to the real world, you can see both private and publicly traded companies. Each row of the stock screener shows the following information: * '''Symbol:''' The stock symbol of a company, a unique sequence of 1-4 alphanumeric characters (all capitalized). * '''Name:''' The corporation's name. Also u..."

== Description ==
The stock screener is the first stop for trading stocks. Here, you have access to basic information regarding all the companies in the game. In contrast to the real world, you can see both private and publicly traded companies.

Each row of the stock screener shows the following information:

* '''Symbol:''' The stock symbol of a company, a unique sequence of 1-4 alphanumeric characters (all capitalized).
* '''Name:''' The corporation's name. Also uniquely determined (although case sensitive). Thus, "Abc" and "ABC" are both valid company names.
* '''Price''': the company's stock price.
* '''Change ($):''' the price change relative to the previous month.
* '''Change (%)''': the price variation in percentage terms relative to the previous month. It is computed as <math>100 \times \frac{\text{Current Price} - \text{Previous Price}}{\text{Previous Price}}</math>.
* '''[[Market Cap|Market Cap.]]'''
* '''[[P/E Ratio|P/E ratio.]]'''
* [[Debt-to-equity Ratio|'''Debt/Equity ratio.''']]

== Strategy tips ==

== Real-world parallel ==

== Related concepts ==

* [[Main Menu]]
* [[Finance Interactive]]

[[Category:Game Concepts]]

Bonds Table

2025-03-22T16:16:45Z

Rbazaes:

== Description ==
Welcome to the [[bond]] market! Here, you can access all available bonds for purchase, as well as selling any of the ones you currently hold. In Finance Interactive, there are both government bonds and corporate bonds. The former are always issued by the [[Government]] entity, while corporate bonds are issued by the corresponding company that wishes to raise [[debt]] money from [[Capital Market|capital markets.]]

Each row represents an individual bond issuance by either the government or a corporation. Each row contains the following data:

* '''Initial Maturity (Years):''' The time, in years, from bond issuance to its maturity date.
* '''Months to maturity:''' The number of months on which a bond’s principal is repaid and interest payments cease.
* '''Issuing entity:''' Either ''the government'' or a corporation.
* '''Available to public''': The amount (in face value terms) of bonds that are available to purchase.
* '''Credit rating:''' The [[Credit Rating|credit rating]] of the issuer entity.
* '''Coupon rate:''' The annual rate of coupon payment relative to its face value. For example, a coupon rate of 5% over a $100M in face value amounts to $5M of coupon payments per year. Depending on the issuer, it is split into 2 or 4 payments (twice a year or quarterly).
* '''Yield:''' The annual return on a bond (see the [[Bond]] page for details about how it is computed).
* '''Price:''' The price of each individual bond. All bonds in this game have a face value of $10,000 and it is the initial price. This means that if a company issues $10M in bonds, it has to issue 1,000 bonds.
* '''Owned:''' The amount of individual bonds held by you.
* '''Unrealized profit (loss)''': Computed as the difference between the current market value of the bonds you hold and the [[Cost Basis|cost basis]] of the investment.
* '''Buy button:''' Click on this button to buy the selected type of bond. Use the slider or the input field to select the amount of ''face value'' to buy in millions. You will also get the actual cost of buying the bonds.
* '''Sell button:''' Click on this button to sell the selected type of bond. Use the slider or the input field to select the amount of face value to sell in millions. You will also get the actual cost of selling the bonds.
By clicking on the headers of the table, you can also sort the tables either ascending or descending.

For filtering the table, you can use either the search bar (which filters by the issuing entity) or the ''filter button''. The latter has the following filtering options:

* Initial maturity (years): Between min and max years.
* Months to maturity: Between min and max months.
* Only junk bonds: Use this to select only bonds with credit rating BB or worse.
* Only investment grade bonds: Use this to select only bonds with credit rating BBB or better.
* Issuing amount ($M): Between min and max millions.
* Credit rating: Select one or more credit ratings you want to filter.
* Coupon rate (%): Between min% and max%.
* Yield (%): Between min% and max%.
* Price: Between min and max.
* Own bonds: selects only bonds you own.
* Available to the public ($M): Between min and max millions.

For filtering parameters between min and max, by leaving min empty, you select all rows whose value is less or equal than max. Similarly, by leaving max empty, you select all rows whose value is larger or equal than min (leaving both empty is equal to having no filter at all).

Click ''confirm'' to filter the table or ''cancel'' to cancel the filtering. Also, you can click the ''Clear all'' button to reset all filter parameters (still, you need to click ''confirm'' to remove the filters!).

== Strategy tips ==

* As a rule of thumb, the longer the time to maturity of a bond, the wilder the price fluctuations will be. So, you may find really cheap chunk bonds if the maturity is long enough. If the company's credit rating recovers, you can make a solid profit (or lose all your investment...)
* The riskier the bond (in credit rating terms), the more capital you will need to comply with insurance regulations. See the [[Minimum Capital Required]] page for details.

== Real-world parallel ==

* [https://markets.businessinsider.com/bonds/finder Markets Insider bond screener.]
* [https://public.com/bonds/screener Public.com bond screener.]

== Related concepts ==

* [[Bond]]
* [[Investments Panel|Investments Panel.]]
* [[Stock Screener|Stock Screener.]]

[[Category:Game Concepts]]

Bonds Table

2025-03-22T15:27:31Z

Rbazaes: Created page with "== Description == Welcome to the bond market! Here, you can access all available bonds for purchase, as well as selling any of the ones you currently hold. In Finance Interactive, there are both government bonds and corporate bonds. The former are always issued by the Government entity, while corporate bonds are issued by the corresponding company that wishes to raise debt money from capital markets. Each row represents an individual bond..."

Bond

2025-03-22T15:10:49Z

Rbazaes: Created page with "TODO: fill the rest == Academic definition == FILL == Simplified explanation == FILL == How it appears in the game == Here is a brief overview of how bonds are issued in Finance Interactive: * '''Government''': the government issues, at the start of every year, $1T in one-year (zero-coupon) bonds, $1T in ten-year bonds and $1T in twenty-year bonds. For coupon bonds, the coupon rate is equal to the current yield for the corresponding interest appearing in the Econom..."

TODO: fill the rest

== Academic definition ==
FILL

== Simplified explanation ==
FILL

== How it appears in the game ==
Here is a brief overview of how bonds are issued in Finance Interactive:

* '''Government''': the government issues, at the start of every year, $1T in one-year (zero-coupon) bonds, $1T in ten-year bonds and $1T in twenty-year bonds. For coupon bonds, the coupon rate is equal to the current yield for the corresponding interest appearing in the [[Economic Data Table]]. Zero-coupon bonds don't pay a coupon, but they are sold at a discount. Government bonds have always a AAA [[Credit Rating|credit rating]] and never default (as of now).
* '''Corporations''': FILL

== References ==
FILL

== Related concepts ==
[[Category:Finance Concepts]]