{"id":11431,"date":"2026-09-24T09:00:00","date_gmt":"2026-09-24T00:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/?p=11431"},"modified":"2026-09-24T18:41:59","modified_gmt":"2026-09-24T09:41:59","slug":"cfa-l2-corp-glossary","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/24\/cfa-l2-corp-glossary\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L2 Corporate Finance \u7528\u8a9e\u96c6\u3011Corporate Finance \u306e\u91cd\u8981\u7528\u8a9e39\u8a9e\uff5c\u82f1\u8a9e\u30fb\u65e5\u672c\u8a9e\u8a33\u30fb\u610f\u5473\u3092\u5358\u5143\u5225\u306b\u6574\u7406"},"content":{"rendered":"<style> .cfagl-nav{background:#f6f7fb;border-radius:6px;padding:1em 1.2em;margin:1em 0;line-height:1.9;word-break:normal;overflow-wrap:anywhere} .cfagl-nav a{display:block;margin:.15em 0} .cfagl-lm{font-size:.9em;margin:.2em 0 1em} .cfagl-t{border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.75em 1em;margin:0 0 .8em;background:#fff} .cfagl-t .en{display:block;font-weight:bold;color:#172152;line-height:1.5;word-break:normal;overflow-wrap:anywhere} .cfagl-t .ja{display:block;font-size:.9em;color:#555;margin:.15em 0 .4em;line-height:1.5} .cfagl-t .df{display:block;line-height:1.75} .cfafm-c{border:1px solid #d5d9e3;border-top:4px solid #172152;border-radius:4px;padding:.9em 1em;margin:0 0 1.2em;background:#fff} .cfafm-c .nm{display:block;font-weight:bold;color:#172152;line-height:1.5} .cfafm-c .ne{display:block;font-size:.85em;color:#667;margin-bottom:.5em;word-break:normal;overflow-wrap:anywhere} .cfafm-x{background:#f6f7fb;border-radius:4px;padding:.6em .8em;margin:.4em 0 .7em;overflow-x:auto;overflow-y:hidden;-webkit-overflow-scrolling:touch} .cfafm-x .katex-display{margin:.3em 0!important} .cfafm-lg{margin:.3em 0 .6em;padding:0;font-size:.92em} .cfafm-lg div{display:flex;gap:.8em;padding:.25em 0;border-bottom:1px dotted #d5d9e3;line-height:1.6} .cfafm-lg .s{flex:0 0 auto;min-width:4.5em;max-width:45%;overflow-x:auto} .cfafm-lg .d{flex:1 1 auto} .cfafm-u{display:block;line-height:1.75;font-size:.95em} .cfafm-u b{color:#172152} .cfahub-g{display:grid;grid-template-columns:repeat(auto-fill,minmax(250px,1fr));gap:.8em;margin:1em 0} .cfahub-g a{display:block;border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.8em 1em;background:#fff;text-decoration:none;color:#172152;line-height:1.5} .cfahub-g a .n{display:block;font-weight:bold} .cfahub-g a .j{display:block;font-size:.88em;color:#555} .cfagl-t p:empty,.cfafm-c p:empty,.cfahub-g p:empty,.cfagl-nav p:empty{display:none} .cfagl-lsc{border:2px solid #c9a227;background:#fffbea;border-radius:6px;padding:.9em 1.1em;margin:1em 0 1.4em;line-height:1.75} .cfagl-lsc b{display:block;color:#8a6d1d;margin-bottom:.3em} .cfagl-lsc a{display:inline-block;margin-top:.4em;font-weight:bold} .cfahub-g a .c{display:block;font-size:.82em;color:#8a6d1d;margin-top:.3em} <\/style>\n<div class=\"box05\">CFA\u00ae\ufe0e Level 2\u300cCorporate Finance\uff08\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\uff09\u300d\u3067\u4f7f\u308f\u308c\u308b\u91cd\u8981\u7528\u8a9e\u3092\u3001\u5b66\u7fd2\u5358\u5143\uff08Learning Module\uff09\u3054\u3068\u306b<strong>\u82f1\u8a9e\u30fb\u65e5\u672c\u8a9e\u8a33\u30fb\u610f\u5473<\/strong>\u306e3\u70b9\u30bb\u30c3\u30c8\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002\u51684\u5358\u5143\u30fb39\u8a9e\u3092\u53ce\u9332\u3057\u3066\u3044\u307e\u3059\u3002\u82f1\u8a9e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u3092\u8aad\u3080\u3068\u304d\u306e\u8f9e\u66f8\u4ee3\u308f\u308a\u306b\u304a\u4f7f\u3044\u304f\u3060\u3055\u3044\u3002<\/div>\n<div class=\"cfagl-lsc\"><b>Leveraged Support Course \u3092\u3054\u5229\u7528\u306e\u65b9\u3078<\/b>FA-Academy \u306e Leveraged Support Course\uff08LSC\uff09\u3092\u3054\u5229\u7528\u306e\u65b9\u306b\u306f\u3001\u3053\u306e\u7528\u8a9e\u96c6\u3068\u516c\u5f0f\u96c6\u3092\u30ec\u30d9\u30eb\u5225\u306b\u6574\u7406\u3057\u305f\u8cc7\u6599\uff08PDF\uff09\u3092\u304a\u6e21\u3057\u3057\u3066\u3044\u307e\u3059\u3002\u30aa\u30d5\u30e9\u30a4\u30f3\u3067\u306e\u78ba\u8a8d\u3084\u8a66\u9a13\u76f4\u524d\u306e\u898b\u76f4\u3057\u306b\u3054\u6d3b\u7528\u304f\u3060\u3055\u3044\u3002<a href=\"https:\/\/triumphmind.com\/cfa\/side_by_side\/\">Level 2 Leveraged Support Course \u306e\u8a73\u7d30\u3092\u898b\u308b<\/a><\/div>\n<h2>\u5358\u5143\uff08LM\uff09\u4e00\u89a7<\/h2>\n<div class=\"cfagl-nav\"><a href=\"#l2-corp-g-lm1\">LM1 \u914d\u5f53\u3068\u81ea\u793e\u682a\u8cb7\u3044\u306e\u5206\u6790<\/a><a href=\"#l2-corp-g-lm2\">LM2 \u6295\u8cc7\u5206\u6790\u306b\u304a\u3051\u308bESG\u306e\u8003\u616e<\/a><a href=\"#l2-corp-g-lm3\">LM3 \u8cc7\u672c\u30b3\u30b9\u30c8\uff1a\u767a\u5c55\u7684\u30c8\u30d4\u30c3\u30af<\/a><a href=\"#l2-corp-g-lm4\">LM4 \u4f01\u696d\u518d\u7de8<\/a><\/div>\n<h2>Corporate Finance \u306e\u91cd\u8981\u7528\u8a9e\uff08LM\u5225\uff09<\/h2>\n<h3 id=\"l2-corp-g-lm1\">LM1 Analysis of Dividends and Share Repurchases\uff08\u914d\u5f53\u3068\u81ea\u793e\u682a\u8cb7\u3044\u306e\u5206\u6790\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l2-corp-lm1\/\">LM1 \u914d\u5f53\u3068\u81ea\u793e\u682a\u8cb7\u3044\u306e\u5206\u6790<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Special Dividend<\/div>\n<div class=\"ja\">\u7279\u5225\u914d\u5f53<\/div>\n<div class=\"df\">\u696d\u7e3e\u304c\u597d\u8abf\u306a\u6642\u671f\u306a\u3069\u306b\u3001\u901a\u5e38\u914d\u5f53\u3068\u306f\u5225\u306b\u4e00\u6642\u7684\u306b\u652f\u6255\u3046\u914d\u5f53\u3002\u7d99\u7d9a\u7684\u306a\u652f\u6255\u3044\u3092\u7d04\u675f\u3057\u306a\u3044\u70b9\u3067\u901a\u5e38\u914d\u5f53\u3068\u7570\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Stock Dividend<\/div>\n<div class=\"ja\">\u682a\u5f0f\u914d\u5f53<\/div>\n<div class=\"df\">\u73fe\u91d1\u306e\u4ee3\u308f\u308a\u306b\u65b0\u682a\u3092\u65e2\u5b58\u682a\u4e3b\u306b\u6301\u682a\u6570\u306b\u5fdc\u3058\u3066\u4ea4\u4ed8\u3059\u308b\u3082\u306e\u3002\u682a\u5f0f\u6570\u3068\u682a\u4fa1\u304c\u6bd4\u4f8b\u3057\u3066\u5909\u308f\u308b\u3060\u3051\u3067\u3001\u682a\u4e3b\u306e\u5bcc\u3084\u8ca1\u52d9\u6bd4\u7387\u306f\u5909\u308f\u3089\u306a\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Dividend Irrelevance Theory<\/div>\n<div class=\"ja\">\u914d\u5f53\u7121\u95a2\u9023\u547d\u984c\uff08MM\u7406\u8ad6\uff09<\/div>\n<div class=\"df\">\u7a0e\u3084\u53d6\u5f15\u30b3\u30b9\u30c8\u306e\u306a\u3044\u5b8c\u5168\u5e02\u5834\u3067\u306f\u3001\u682a\u4e3b\u304c\u4fdd\u6709\u682a\u306e\u58f2\u5374\u3067\u81ea\u5bb6\u88fd\u914d\u5f53\u3092\u4f5c\u308c\u308b\u305f\u3081\u3001\u914d\u5f53\u653f\u7b56\u306f\u4f01\u696d\u4fa1\u5024\u306b\u5f71\u97ff\u3057\u306a\u3044\u3068\u3059\u308b\u7406\u8ad6\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Bird-in-the-Hand Argument<\/div>\n<div class=\"ja\">\u624b\u4e2d\u306e\u9ce5\u7406\u8ad6<\/div>\n<div class=\"df\">\u78ba\u5b9f\u306a\u914d\u5f53\u3092\u4e0d\u78ba\u5b9f\u306a\u5c06\u6765\u306e\u5024\u4e0a\u304c\u308a\u76ca\u3088\u308a\u9ad8\u304f\u8a55\u4fa1\u3059\u308b\u3068\u3057\u3001\u914d\u5f53\u306e\u5897\u52a0\u304c\u682a\u4e3b\u306e\u8981\u6c42\u53ce\u76ca\u7387\u3092\u4e0b\u3052\u3066\u682a\u4fa1\u3092\u9ad8\u3081\u308b\u3068\u3059\u308b\u8003\u3048\u65b9\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Dividend Signaling<\/div>\n<div class=\"ja\">\u914d\u5f53\u306e\u30b7\u30b0\u30ca\u30ea\u30f3\u30b0\u52b9\u679c<\/div>\n<div class=\"df\">\u60c5\u5831\u3092\u591a\u304f\u6301\u3064\u7d4c\u55b6\u8005\u306e\u914d\u5f53\u5909\u66f4\u304c\u3001\u5c06\u6765\u306e\u898b\u901a\u3057\u3092\u793a\u3059\u60c5\u5831\u3068\u3057\u3066\u53d7\u3051\u53d6\u3089\u308c\u308b\u3053\u3068\u3002\u5897\u914d\u306f\u6b63\u3001\u6e1b\u914d\u306f\u8ca0\u306e\u30b7\u30b0\u30ca\u30eb\u3068\u306a\u308a\u3084\u3059\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Imputation Tax System<\/div>\n<div class=\"ja\">\u30a4\u30f3\u30d4\u30e5\u30c6\u30fc\u30b7\u30e7\u30f3\u65b9\u5f0f<\/div>\n<div class=\"df\">\u6cd5\u4eba\u6bb5\u968e\u3067\u8ab2\u3055\u308c\u305f\u7a0e\u984d\u3092\u682a\u4e3b\u306e\u914d\u5f53\u8ab2\u7a0e\u304b\u3089\u63a7\u9664\u3067\u304d\u308b\u7a0e\u5236\u3002\u914d\u5f53\u306b\u56de\u3063\u305f\u5229\u76ca\u306e\u5b9f\u52b9\u7a0e\u7387\u306f\u682a\u4e3b\u306e\u9650\u754c\u7a0e\u7387\u306b\u7b49\u3057\u304f\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Target Payout Adjustment Model<\/div>\n<div class=\"ja\">\u76ee\u6a19\u914d\u5f53\u6027\u5411\u8abf\u6574\u30e2\u30c7\u30eb<\/div>\n<div class=\"df\">\u4e88\u60f3\u5229\u76ca\u306b\u76ee\u6a19\u914d\u5f53\u6027\u5411\u3092\u639b\u3051\u305f\u6c34\u6e96\u306b\u5411\u3051\u3066\u3001\u524d\u671f\u306e\u914d\u5f53\u3092\u8abf\u6574\u4fc2\u6570\u306e\u5272\u5408\u3060\u3051\u6bb5\u968e\u7684\u306b\u8fd1\u3065\u3051\u3066\u914d\u5f53\u3092\u6c7a\u3081\u308b\u30e2\u30c7\u30eb\u3002\u5b89\u5b9a\u914d\u5f53\u653f\u7b56\u3092\u8868\u3059\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Constant Dividend Payout Ratio Policy<\/div>\n<div class=\"ja\">\u4e00\u5b9a\u914d\u5f53\u6027\u5411\u653f\u7b56<\/div>\n<div class=\"df\">\u6bce\u671f\u306e\u5229\u76ca\u306b\u4e00\u5b9a\u306e\u914d\u5f53\u6027\u5411\u3092\u639b\u3051\u3066\u914d\u5f53\u984d\u3092\u6c7a\u3081\u308b\u65b9\u91dd\u3002\u914d\u5f53\u304c\u5229\u76ca\u306b\u9023\u52d5\u3059\u308b\u305f\u3081\u3001\u5b89\u5b9a\u914d\u5f53\u653f\u7b56\u3088\u308a\u914d\u5f53\u306e\u5909\u52d5\u304c\u5927\u304d\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Dutch Auction<\/div>\n<div class=\"ja\">\u30c0\u30c3\u30c1\u30fb\u30aa\u30fc\u30af\u30b7\u30e7\u30f3<\/div>\n<div class=\"df\">\u4f01\u696d\u304c\u8cb7\u4ed8\u4fa1\u683c\u306e\u7bc4\u56f2\u3092\u793a\u3057\u3066\u682a\u4e3b\u304b\u3089\u58f2\u5374\u5e0c\u671b\u4fa1\u683c\u3092\u52df\u308a\u3001\u76ee\u6a19\u682a\u6570\u3092\u53d6\u5f97\u3067\u304d\u308b\u6700\u3082\u4f4e\u3044\u4fa1\u683c\u3067\u4e00\u5f8b\u306b\u8cb7\u3044\u4ed8\u3051\u308b\u81ea\u793e\u682a\u8cb7\u3044\u306e\u65b9\u6cd5\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">FCFE Coverage Ratio<\/div>\n<div class=\"ja\">FCFE\u30ab\u30d0\u30ec\u30c3\u30b8\u30fb\u30ec\u30b7\u30aa<\/div>\n<div class=\"df\">FCFE\u3092\u914d\u5f53\u3068\u81ea\u793e\u682a\u8cb7\u3044\u306e\u5408\u8a08\u3067\u5272\u3063\u305f\u6bd4\u7387\u3002\u682a\u4e3b\u9084\u5143\u3092\u4e8b\u696d\u304c\u751f\u3080\u73fe\u91d1\u3067\u3069\u308c\u3060\u3051\u8cc4\u3048\u308b\u304b\u3092\u793a\u3057\u30011\u3092\u4e0b\u56de\u308b\u3068\u8cc4\u3048\u3066\u3044\u306a\u3044\u3002<\/div>\n<\/div>\n<h3 id=\"l2-corp-g-lm2\">LM2 Environmental, Social, and Governance (ESG) Considerations in Investment Analysis\uff08\u6295\u8cc7\u5206\u6790\u306b\u304a\u3051\u308bESG\u306e\u8003\u616e\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l2-corp-lm2\/\">LM2 \u6295\u8cc7\u5206\u6790\u306b\u304a\u3051\u308bESG\u306e\u8003\u616e<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Concentrated Ownership<\/div>\n<div class=\"ja\">\u96c6\u4e2d\u578b\u6240\u6709<\/div>\n<div class=\"df\">\u5c11\u6570\u306e\u682a\u4e3b\u3084\u682a\u4e3b\u30b0\u30eb\u30fc\u30d7\u304c\u682a\u5f0f\u306e\u591a\u304f\u3092\u4fdd\u6709\u3057\u3001\u7d4c\u55b6\u3092\u652f\u914d\u3067\u304d\u308b\u6240\u6709\u69cb\u9020\u3002\u652f\u914d\u682a\u4e3b\u306f\u904e\u534a\u6570\u682a\u4e3b\u306e\u5834\u5408\u3082\u5c11\u6570\u682a\u4e3b\u306e\u5834\u5408\u3082\u3042\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Principal\u2013Principal Problem<\/div>\n<div class=\"ja\">\u30d7\u30ea\u30f3\u30b7\u30d1\u30eb\u30fb\u30d7\u30ea\u30f3\u30b7\u30d1\u30eb\u554f\u984c<\/div>\n<div class=\"df\">\u96c6\u4e2d\u578b\u6240\u6709\u306e\u3082\u3068\u3067\u3001\u652f\u914d\u682a\u4e3b\u3068\u5c11\u6570\u682a\u4e3b\u306e\u9593\u306b\u751f\u3058\u308b\u5229\u5bb3\u5bfe\u7acb\u3002\u5206\u6563\u578b\u6240\u6709\u3067\u4e2d\u5fc3\u3068\u306a\u308b\u682a\u4e3b\u3068\u7d4c\u55b6\u8005\u306e\u5bfe\u7acb\u3068\u306f\u533a\u5225\u3055\u308c\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Vertical (Pyramid) Ownership<\/div>\n<div class=\"ja\">\u5782\u76f4\u7684\uff08\u30d4\u30e9\u30df\u30c3\u30c9\u578b\uff09\u6240\u6709<\/div>\n<div class=\"df\">\u4f01\u696d\u3084\u682a\u4e3b\u30b0\u30eb\u30fc\u30d7\u304c\u3001\u3042\u308b\u4f1a\u793e\u3092\u901a\u3058\u3066\u5225\u306e\u4f1a\u793e\u3092\u652f\u914d\u3059\u308b\u591a\u5c64\u7684\u306a\u6240\u6709\u69cb\u9020\u3002\u5c11\u306a\u3044\u51fa\u8cc7\u3067\u591a\u304f\u306e\u4f1a\u793e\u3092\u652f\u914d\u3067\u304d\u3001\u652f\u914d\u95a2\u4fc2\u3092\u8907\u96d1\u306b\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Horizontal Ownership<\/div>\n<div class=\"ja\">\u6c34\u5e73\u7684\u6240\u6709\uff08\u682a\u5f0f\u6301\u3061\u5408\u3044\uff09<\/div>\n<div class=\"df\">\u4f01\u696d\u3069\u3046\u3057\u304c\u76f8\u4e92\u306b\u682a\u5f0f\u3092\u4fdd\u6709\u3057\u5408\u3046\u6240\u6709\u69cb\u9020\u3002\u4e8b\u696d\u4e0a\u306e\u95a2\u4fc2\u3092\u5f37\u3081\u308b\u4e00\u65b9\u3001\u7d4c\u55b6\u306e\u898f\u5f8b\u3092\u5f31\u3081\u652f\u914d\u95a2\u4fc2\u3092\u898b\u3048\u306b\u304f\u304f\u3059\u308b\u3053\u3068\u304c\u3042\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Dual-Class Shares<\/div>\n<div class=\"ja\">\u8907\u6570\u7a2e\u985e\u682a\u5f0f\uff08\u30c7\u30e5\u30a2\u30eb\u30fb\u30af\u30e9\u30b9\u682a\u5f0f\uff09<\/div>\n<div class=\"df\">\u8b70\u6c7a\u6a29\u306e\u6570\u304c\u7570\u306a\u308b\u8907\u6570\u306e\u7a2e\u985e\u306e\u682a\u5f0f\u3092\u767a\u884c\u3059\u308b\u69cb\u9020\u3002\u5c11\u306a\u3044\u51fa\u8cc7\u6bd4\u7387\u3067\u652f\u914d\u682a\u4e3b\u304c\u8b70\u6c7a\u6a29\u306e\u904e\u534a\u3092\u63e1\u308b\u3053\u3068\u3092\u53ef\u80fd\u306b\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Two-Tier Board<\/div>\n<div class=\"ja\">\u4e8c\u5c64\u5236\u53d6\u7de0\u5f79\u4f1a<\/div>\n<div class=\"df\">\u975e\u696d\u52d9\u57f7\u884c\u8005\u3067\u69cb\u6210\u3059\u308b\u76e3\u7763\u5f79\u4f1a\u3068\u3001\u7d4c\u55b6\u8005\u3067\u69cb\u6210\u3059\u308b\u57f7\u884c\u5f79\u4f1a\u3092\u5206\u3051\u305f\u53d6\u7de0\u5f79\u4f1a\u306e\u69cb\u9020\u3002\u4e21\u8005\u30921\u3064\u306e\u53d6\u7de0\u5f79\u4f1a\u306b\u7f6e\u304f\u306e\u304c\u4e00\u5c64\u5236\u3067\u3042\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">CEO Duality<\/div>\n<div class=\"ja\">CEO\u30c7\u30e5\u30a2\u30ea\u30c6\u30a3<\/div>\n<div class=\"df\">CEO\u304c\u53d6\u7de0\u5f79\u4f1a\u306e\u8b70\u9577\u3092\u517c\u306d\u308b\u3053\u3068\u3002\u7d4c\u55b6\u3092\u76e3\u7763\u3059\u308b\u7acb\u5834\u3068\u57f7\u884c\u3059\u308b\u7acb\u5834\u304c\u91cd\u306a\u308b\u305f\u3081\u3001\u53d6\u7de0\u5f79\u4f1a\u306e\u76e3\u7763\u6a5f\u80fd\u304c\u5f31\u307e\u308b\u61f8\u5ff5\u304c\u3042\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Materiality (ESG)<\/div>\n<div class=\"ja\">\u30de\u30c6\u30ea\u30a2\u30ea\u30c6\u30a3\uff08ESG\u306e\u91cd\u8981\u6027\uff09<\/div>\n<div class=\"df\">\u4f01\u696d\u306e\u4e8b\u696d\u904b\u55b6\u3001\u8ca1\u52d9\u696d\u7e3e\u3001\u8a3c\u5238\u306e\u8a55\u4fa1\u306b\u5f71\u97ff\u3059\u308b\u3068\u898b\u8fbc\u307e\u308c\u308bESG\u4e0a\u306e\u554f\u984c\u3002\u74b0\u5883\u30fb\u793e\u4f1a\u306e\u8ad6\u70b9\u306f\u696d\u7a2e\u306b\u3088\u3063\u3066\u5927\u304d\u304f\u7570\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">ESG Integration<\/div>\n<div class=\"ja\">ESG\u7d71\u5408<\/div>\n<div class=\"df\">ESG\u8981\u56e0\u3092\u8ca1\u52d9\u5206\u6790\u3084\u8a55\u4fa1\u306e\u904e\u7a0b\u306b\u7d44\u307f\u8fbc\u3080\u3053\u3068\u3002\u682a\u5f0f\u5206\u6790\u3067\u306f\u6a5f\u4f1a\u306e\u767a\u898b\u3068\u30ea\u30b9\u30af\u4f4e\u6e1b\u306e\u4e21\u9762\u3001\u50b5\u5238\u5206\u6790\u3067\u306f\u4e3b\u306b\u4e0b\u65b9\u30ea\u30b9\u30af\u306e\u8a55\u4fa1\u306b\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<h3 id=\"l2-corp-g-lm3\">LM3 Cost of Capital: Advanced Topics\uff08\u8cc7\u672c\u30b3\u30b9\u30c8\uff1a\u767a\u5c55\u7684\u30c8\u30d4\u30c3\u30af\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l2-corp-lm3\/\">LM3 \u8cc7\u672c\u30b3\u30b9\u30c8\uff1a\u767a\u5c55\u7684\u30c8\u30d4\u30c3\u30af<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Weighted Average Cost of Capital (WACC)<\/div>\n<div class=\"ja\">\u52a0\u91cd\u5e73\u5747\u8cc7\u672c\u30b3\u30b9\u30c8\uff08WACC\uff09<\/div>\n<div class=\"df\">\u8ca0\u50b5\u30fb\u512a\u5148\u682a\u30fb\u666e\u901a\u682a\u306e\u5404\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u3001\u76ee\u6a19\u8cc7\u672c\u69cb\u6210\u306e\u6bd4\u7387\u3067\u52a0\u91cd\u5e73\u5747\u3057\u305f\u5024\u3002\u8ca0\u50b5\u30b3\u30b9\u30c8\u306f\u7a0e\u5f15\u5f8c\u3067\u7528\u3044\u3001\u6295\u8cc7\u5224\u65ad\u3084\u4f01\u696d\u8a55\u4fa1\u306e\u5272\u5f15\u7387\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Synthetic Credit Rating<\/div>\n<div class=\"ja\">\u5408\u6210\u683c\u4ed8\u3051<\/div>\n<div class=\"df\">\u683c\u4ed8\u3051\u306e\u306a\u3044\u4f01\u696d\u306b\u3064\u3044\u3066\u3001\u8ca1\u52d9\u6bd4\u7387\u306a\u3069\u304b\u3089\u63a8\u5b9a\u3057\u305f\u683c\u4ed8\u3051\u3002\u540c\u683c\u4ed8\u3051\u306e\u50b5\u5238\u5229\u56de\u308a\u3092\u7528\u3044\u3066\u8ca0\u50b5\u30b3\u30b9\u30c8\u3092\u63a8\u5b9a\u3059\u308b\u969b\u306b\u4f7f\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Equity Risk Premium (ERP)<\/div>\n<div class=\"ja\">\u682a\u5f0f\u30ea\u30b9\u30af\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\uff08ERP\uff09<\/div>\n<div class=\"df\">\u682a\u5f0f\u5e02\u5834\u5168\u4f53\u306e\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u304c\u30ea\u30b9\u30af\u30d5\u30ea\u30fc\u30fb\u30ec\u30fc\u30c8\u3092\u4e0a\u56de\u308b\u90e8\u5206\u3002\u904e\u53bb\u30c7\u30fc\u30bf\u306b\u3088\u308b\u65b9\u6cd5\u3068\u3001\u5c06\u6765\u4e88\u60f3\u306b\u57fa\u3065\u304f\u65b9\u6cd5\u3067\u63a8\u5b9a\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Survivorship Bias<\/div>\n<div class=\"ja\">\u751f\u5b58\u8005\u30d0\u30a4\u30a2\u30b9<\/div>\n<div class=\"df\">\u5b58\u7d9a\u3057\u3066\u3044\u308b\u4f01\u696d\u3084\u5e02\u5834\u306e\u30c7\u30fc\u30bf\u3060\u3051\u3092\u7528\u3044\u308b\u3053\u3068\u3067\u751f\u3058\u308b\u504f\u308a\u3002\u904e\u53bb\u30c7\u30fc\u30bf\u306b\u57fa\u3065\u304f\u682a\u5f0f\u30ea\u30b9\u30af\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u904e\u5927\u306b\u63a8\u5b9a\u3055\u305b\u308b\u8981\u56e0\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Build-Up Approach<\/div>\n<div class=\"ja\">\u30d3\u30eb\u30c9\u30a2\u30c3\u30d7\u6cd5<\/div>\n<div class=\"df\">\u30ea\u30b9\u30af\u30d5\u30ea\u30fc\u30fb\u30ec\u30fc\u30c8\u306b\u682a\u5f0f\u30ea\u30b9\u30af\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u3001\u898f\u6a21\u30d7\u30ec\u30df\u30a2\u30e0\u3001\u4f01\u696d\u56fa\u6709\u306e\u30ea\u30b9\u30af\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u306a\u3069\u3092\u7a4d\u307f\u4e0a\u3052\u3066\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u63a8\u5b9a\u3059\u308b\u65b9\u6cd5\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Bond Yield Plus Risk Premium Approach<\/div>\n<div class=\"ja\">\u50b5\u5238\u5229\u56de\u308a\uff0b\u30ea\u30b9\u30af\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u6cd5<\/div>\n<div class=\"df\">\u81ea\u793e\u304c\u767a\u884c\u3059\u308b\u50b5\u5238\u306e\u5229\u56de\u308a\u306b\u3001\u682a\u5f0f\u304c\u8ca0\u50b5\u3088\u308a\u9ad8\u3044\u30ea\u30b9\u30af\u3092\u8ca0\u3046\u5206\u306e\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u4e0a\u4e57\u305b\u3057\u3066\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u63a8\u5b9a\u3059\u308b\u65b9\u6cd5\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Size Premium<\/div>\n<div class=\"ja\">\u898f\u6a21\u30d7\u30ec\u30df\u30a2\u30e0<\/div>\n<div class=\"df\">\u5c0f\u898f\u6a21\u306a\u4f01\u696d\u306e\u682a\u5f0f\u306b\u5bfe\u3057\u3066\u8ffd\u52a0\u7684\u306b\u6c42\u3081\u3089\u308c\u308b\u53ce\u76ca\u7387\u3002\u975e\u4e0a\u5834\u4f01\u696d\u3084\u5c0f\u578b\u4f01\u696d\u306e\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u63a8\u5b9a\u3059\u308b\u969b\u306b\u52a0\u7b97\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Specific-Company Risk Premium<\/div>\n<div class=\"ja\">\u4f01\u696d\u56fa\u6709\u306e\u30ea\u30b9\u30af\u30fb\u30d7\u30ec\u30df\u30a2\u30e0<\/div>\n<div class=\"df\">\u7279\u5b9a\u306e\u4f01\u696d\u306b\u56fa\u6709\u306e\u30ea\u30b9\u30af\u3092\u53cd\u6620\u3057\u3066\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c8\u306b\u4e0a\u4e57\u305b\u3059\u308b\u30d7\u30ec\u30df\u30a2\u30e0\u3002\u975e\u4e0a\u5834\u4f01\u696d\u306e\u8a55\u4fa1\u3067\u3001\u6bd4\u8f03\u4f01\u696d\u3067\u306f\u6349\u3048\u304d\u308c\u306a\u3044\u30ea\u30b9\u30af\u3092\u53cd\u6620\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Asset Beta (Unlevered Beta)<\/div>\n<div class=\"ja\">\u8cc7\u7523\u30d9\u30fc\u30bf\uff08\u30a2\u30f3\u30ec\u30d0\u30fc\u30c9\u30fb\u30d9\u30fc\u30bf\uff09<\/div>\n<div class=\"df\">\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u5f71\u97ff\u3092\u9664\u3044\u305f\u3001\u4e8b\u696d\u30ea\u30b9\u30af\u3060\u3051\u3092\u53cd\u6620\u3059\u308b\u30d9\u30fc\u30bf\u3002\u6bd4\u8f03\u4f01\u696d\u306e\u682a\u5f0f\u30d9\u30fc\u30bf\u304b\u3089\u6c42\u3081\u3001\u5bfe\u8c61\u4f01\u696d\u306e\u8cc7\u672c\u69cb\u6210\u3067\u30ea\u30ec\u30d0\u30fc\u3057\u3066\u4f7f\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Country Risk Premium (CRP)<\/div>\n<div class=\"ja\">\u30ab\u30f3\u30c8\u30ea\u30fc\u30fb\u30ea\u30b9\u30af\u30fb\u30d7\u30ec\u30df\u30a2\u30e0<\/div>\n<div class=\"df\">\u65b0\u8208\u56fd\u306a\u3069\u3078\u306e\u6295\u8cc7\u306b\u4f34\u3046\u8ffd\u52a0\u7684\u306a\u30ea\u30b9\u30af\u3092\u53cd\u6620\u3057\u3066\u3001\u682a\u5f0f\u306e\u8981\u6c42\u53ce\u76ca\u7387\u306b\u4e0a\u4e57\u305b\u3059\u308b\u30d7\u30ec\u30df\u30a2\u30e0\u3002\u56fd\u50b5\u306e\u5229\u56de\u308a\u30b9\u30d7\u30ec\u30c3\u30c9\u306a\u3069\u304b\u3089\u63a8\u5b9a\u3059\u308b\u3002<\/div>\n<\/div>\n<h3 id=\"l2-corp-g-lm4\">LM4 Corporate Restructuring\uff08\u4f01\u696d\u518d\u7de8\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l2-corp-lm4\/\">LM4 \u4f01\u696d\u518d\u7de8<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Synergy<\/div>\n<div class=\"ja\">\u30b7\u30ca\u30b8\u30fc<\/div>\n<div class=\"df\">\u7d71\u5408\u306b\u3088\u3063\u3066\u3001\u500b\u3005\u306e\u4f01\u696d\u306e\u4fa1\u5024\u306e\u5408\u8a08\u3092\u4e0a\u56de\u308b\u4fa1\u5024\u304c\u751f\u307e\u308c\u308b\u3053\u3068\u3002\u58f2\u4e0a\u306e\u5897\u52a0\u306b\u3088\u308b\u58f2\u4e0a\u30b7\u30ca\u30b8\u30fc\u3068\u3001\u8cbb\u7528\u306e\u524a\u6e1b\u306b\u3088\u308b\u30b3\u30b9\u30c8\u30fb\u30b7\u30ca\u30b8\u30fc\u304c\u3042\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Divestiture<\/div>\n<div class=\"ja\">\u4e8b\u696d\u58f2\u5374<\/div>\n<div class=\"df\">\u4e8b\u696d\u3084\u8cc7\u7523\u3092\u4ed6\u793e\u306b\u58f2\u5374\u3057\u3066\u5bfe\u4fa1\u3092\u53d7\u3051\u53d6\u308b\u518d\u7de8\u884c\u52d5\u3002\u7d4c\u55b6\u8cc7\u6e90\u306e\u96c6\u4e2d\u3001\u6210\u9577\u6027\u3084\u53ce\u76ca\u6027\u306e\u5411\u4e0a\u3001\u30ea\u30b9\u30af\u4f4e\u6e1b\u3092\u76ee\u7684\u3068\u3057\u3001\u7a0e\u8ca0\u62c5\u304c\u751f\u3058\u5f97\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Spin-Off<\/div>\n<div class=\"ja\">\u30b9\u30d4\u30f3\u30aa\u30d5<\/div>\n<div class=\"df\">\u5b50\u4f1a\u793e\u306e\u682a\u5f0f\u3092\u65e2\u5b58\u682a\u4e3b\u306b\u5206\u914d\u3057\u3066\u72ec\u7acb\u3057\u305f\u4f01\u696d\u3068\u3059\u308b\u518d\u7de8\u3002\u73fe\u91d1\u306e\u53d7\u53d6\u308a\u306f\u751f\u3058\u305a\u3001\u682a\u4e3b\u306f\u4e21\u793e\u306e\u682a\u5f0f\u3092\u4fdd\u6709\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Comparable Company Analysis<\/div>\n<div class=\"ja\">\u6bd4\u8f03\u4f1a\u793e\u5206\u6790<\/div>\n<div class=\"df\">\u985e\u4f3c\u3059\u308b\u4e0a\u5834\u4f01\u696d\u306eEV\/EBITDA\u3084P\/E\u306a\u3069\u306e\u500d\u7387\u3092\u5bfe\u8c61\u4f01\u696d\u306e\u6307\u6a19\u306b\u5f53\u3066\u306f\u3081\u3066\u4fa1\u5024\u3092\u63a8\u5b9a\u3059\u308b\u65b9\u6cd5\u3002\u652f\u914d\u6a29\u30d7\u30ec\u30df\u30a2\u30e0\u306f\u542b\u307e\u306a\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Comparable Transaction Analysis<\/div>\n<div class=\"ja\">\u6bd4\u8f03\u53d6\u5f15\u5206\u6790<\/div>\n<div class=\"df\">\u904e\u53bb\u306e\u985e\u4f3c\u3057\u305fM&amp;A\u53d6\u5f15\u3067\u6210\u7acb\u3057\u305f\u500d\u7387\u3092\u7528\u3044\u3066\u5bfe\u8c61\u4f01\u696d\u306e\u4fa1\u5024\u3092\u63a8\u5b9a\u3059\u308b\u65b9\u6cd5\u3002\u53d6\u5f15\u500d\u7387\u306b\u306f\u652f\u914d\u6a29\u30d7\u30ec\u30df\u30a2\u30e0\u304c\u542b\u307e\u308c\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Premiums Paid Analysis<\/div>\n<div class=\"ja\">\u30d7\u30ec\u30df\u30a2\u30e0\u5206\u6790<\/div>\n<div class=\"df\">\u904e\u53bb\u306e\u985e\u4f3c\u3057\u305f\u8cb7\u53ce\u3067\u3001\u516c\u8868\u524d\u306e\u682a\u4fa1\u306b\u5bfe\u3057\u3066\u652f\u6255\u308f\u308c\u305f\u30d7\u30ec\u30df\u30a2\u30e0\u306e\u6c34\u6e96\u3092\u53c2\u8003\u306b\u3001\u5bfe\u8c61\u4f01\u696d\u306e\u8cb7\u53ce\u4fa1\u683c\u3092\u63a8\u5b9a\u3059\u308b\u65b9\u6cd5\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Pro Forma Financial Statements<\/div>\n<div class=\"ja\">\u30d7\u30ed\u30d5\u30a9\u30fc\u30de\u8ca1\u52d9\u8af8\u8868<\/div>\n<div class=\"df\">\u518d\u7de8\u304c\u5b9f\u884c\u3055\u308c\u305f\u3068\u4eee\u5b9a\u3057\u3066\u4f5c\u6210\u3059\u308b\u898b\u7a4d\u308a\u306e\u8ca1\u52d9\u8af8\u8868\u3002\u518d\u7de8\u304cEPS\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u3001WACC\u306a\u3069\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u3092\u63a8\u5b9a\u3059\u308b\u305f\u3081\u306b\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Accretive \/ Dilutive Transaction<\/div>\n<div class=\"ja\">\u30a2\u30af\u30ea\u30fc\u30c6\u30a3\u30d6\uff0f\u30c0\u30a4\u30ea\u30e5\u30fc\u30c6\u30a3\u30d6\u306a\u53d6\u5f15<\/div>\n<div class=\"df\">\u8cb7\u53ce\u306a\u3069\u306e\u518d\u7de8\u306e\u7d50\u679c\u3001\u53d6\u5f97\u4f01\u696d\u306eEPS\u304c\u5897\u52a0\u3059\u308b\u53d6\u5f15\u3092\u30a2\u30af\u30ea\u30fc\u30c6\u30a3\u30d6\u3001\u6e1b\u5c11\u3059\u308b\u53d6\u5f15\u3092\u30c0\u30a4\u30ea\u30e5\u30fc\u30c6\u30a3\u30d6\u3068\u547c\u3076\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Conglomerate Discount<\/div>\n<div class=\"ja\">\u30b3\u30f3\u30b0\u30ed\u30de\u30ea\u30c3\u30c8\u30fb\u30c7\u30a3\u30b9\u30ab\u30a6\u30f3\u30c8<\/div>\n<div class=\"df\">\u591a\u89d2\u5316\u3057\u305f\u4f01\u696d\u306e\u5e02\u5834\u4fa1\u5024\u304c\u3001\u5404\u4e8b\u696d\u3092\u500b\u5225\u306b\u8a55\u4fa1\u3057\u305f\u4fa1\u5024\u306e\u5408\u8a08\uff08SOTP\uff09\u3092\u4e0b\u56de\u308b\u3053\u3068\u3002\u30b9\u30d4\u30f3\u30aa\u30d5\u3084\u4e8b\u696d\u58f2\u5374\u306e\u52d5\u6a5f\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Sale-Leaseback<\/div>\n<div class=\"ja\">\u30bb\u30fc\u30eb\u30fb\u30a2\u30f3\u30c9\u30fb\u30ea\u30fc\u30b9\u30d0\u30c3\u30af<\/div>\n<div class=\"df\">\u4fdd\u6709\u3059\u308b\u8cc7\u7523\u3092\u58f2\u5374\u3057\u3001\u540c\u3058\u8cc7\u7523\u3092\u8cb7\u3044\u624b\u304b\u3089\u8cc3\u501f\u3057\u3066\u4f7f\u3044\u7d9a\u3051\u308b\u53d6\u5f15\u3002\u8cc7\u7523\u4fdd\u6709\u3092\u898b\u76f4\u3059\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u518d\u7de8\u306e\u624b\u6cd5\u306e\u4e00\u3064\u3067\u3042\u308b\u3002<\/div>\n<\/div>\n<h2>\u3042\u308f\u305b\u3066\u4f7f\u3044\u305f\u3044\u30da\u30fc\u30b8<\/h2>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/24\/cfa-l2-corp-formulas\/\">CFA\u00ae\ufe0e Level 2 Corporate Finance \u516c\u5f0f\u96c6\uff08\u8a18\u53f7\u306e\u610f\u5473\u3068\u4f7f\u3044\u3069\u3053\u308d\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/cfa-level2-glossary\/\">CFA\u00ae\ufe0e Level 2 \u7528\u8a9e\u96c6\uff08\u5168\u79d1\u76ee\u306e\u4e00\u89a7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l2-corp\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 2 Corporate Finance\uff09<\/a><\/li>\n<\/ul>\n<h2>\u52b9\u7387\u3088\u304f\u5b66\u3076\u306b\u306f FA-Academy<\/h2>\n<p>CFA\u00ae\ufe0e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u306f\u82f1\u8a9e\u3067\u5206\u91cf\u3082\u591a\u304f\u3001\u7528\u8a9e\u3084\u516c\u5f0f\u3092\u82f1\u8a9e\u3060\u3051\u3067\u7406\u89e3\u3057\u3066\u3044\u304f\u306e\u306f\u5927\u304d\u306a\u8ca0\u62c5\u3067\u3059\u3002<\/p>\n<p>FA-Academy\uff08Financial Analyst Academy\uff09\u306f\u3001<strong>\u65e5\u672c\u8a9e\u3067\u5b66\u3079\u308b\u6570\u5c11\u306a\u3044CFA\u00ae\ufe0e\u8a66\u9a13\u30b5\u30dd\u30fc\u30c8<\/strong>\u3067\u3059\u3002\u3053\u308c\u307e\u3067 Level 1 \u304b\u3089 Level 3 \u307e\u3067\u591a\u304f\u306e\u5408\u683c\u8005\u3092\u8f29\u51fa\u3057\u3066\u304a\u308a\u3001\u5408\u683c\u8005\u306e\u65b9\u3005\u3068\u306e\u5bfe\u8ac7\u3082\u6570\u591a\u304f\u516c\u958b\u3057\u3066\u3044\u307e\u3059\u3002\u3069\u3093\u306a\u65b9\u304c\u3001\u3069\u306e\u3088\u3046\u306b\u5408\u683c\u3055\u308c\u305f\u306e\u304b\u306f<a href=\"https:\/\/triumphmind.com\/cfa\/category\/gokaku\/\" target=\"_blank\" rel=\"noopener\">\u5408\u683c\u8005\u5bfe\u8ac7\u30fb\u5408\u683c\u4f53\u9a13\u8ac7\u306e\u4e00\u89a7<\/a>\u304b\u3089\u3054\u89a7\u3044\u305f\u3060\u3051\u307e\u3059\u3002<\/p>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/present1\/\" target=\"_blank\" rel=\"noopener\">Level 1 \u65e5\u672c\u8a9e\u8981\u70b9\u96c6\u306e\u7121\u6599\u30b5\u30f3\u30d7\u30eb\u3092\u53d7\u3051\u53d6\u308b\uff087\u65e5\u9593\u30e1\u30fc\u30eb\u8b1b\u5ea7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/timerex.net\/s\/cfa.tips.slack_2a23\/e72e883e\/\" target=\"_blank\" rel=\"noopener\">\u7121\u6599\u500b\u5225\u9762\u8ac7\u3092\u4e88\u7d04\u3059\u308b\uff08\u5b66\u7fd2\u8a08\u753b\u306e\u3054\u76f8\u8ac7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/course\/\" target=\"_blank\" rel=\"noopener\">\u53d7\u8b1b\u6848\u5185\uff08\u30b3\u30fc\u30b9\u4e00\u89a7\u30fb\u53d7\u8b1b\u6599\uff09\u3092\u898b\u308b<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/side_by_side\/\" target=\"_blank\" rel=\"noopener\">Level 2 Leveraged Support Course\uff08\u7528\u8a9e\u96c6\u30fb\u516c\u5f0f\u96c6\u306e\u6574\u7406\u8cc7\u6599\u3064\u304d\uff09\u3092\u898b\u308b<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 2 Corporate Finance\uff08\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\uff09\u306e\u91cd\u8981\u7528\u8a9e39\u8a9e\u3092\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306e\u5358\u5143\uff08LM\uff09\u5225\u306b\u3001\u82f1\u8a9e\u30fb\u65e5\u672c\u8a9e\u8a33\u30fb\u610f\u5473\u306e3\u70b9\u30bb\u30c3\u30c8\u3067\u6574\u7406\u3057\u305f\u7528\u8a9e\u96c6\u3067\u3059\u3002<\/p>\n","protected":false},"author":1,"featured_media":11599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[101],"tags":[],"class_list":["post-11431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-glossary"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/11431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/comments?post=11431"}],"version-history":[{"count":2,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/11431\/revisions"}],"predecessor-version":[{"id":11552,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/11431\/revisions\/11552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11599"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=11431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=11431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=11431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}