capital structure and solvency measurements

... Control Contests and Capital Structure , Journal of Financial Economics, Vol 20, pp 55–86 ——— ——— (1990), Capital Structure and. .. estimate efficiency under both CRS and VRS technologies ... of Banking and Finance, Vol 27, pp 2099–120 Berger, A N and E Bonaccorsi di Patti (2006), Capital Structure and Firm Performance: A New Approach to Testing Agency Theory and an Application ... Capital Structure: Theory and Evidence’, Journal of Finance, Vol 39, pp 857–78 Castanias, R (1983), ‘Bankruptcy Risk and Optimal Capital Structure , Journal... Pecking Order Theory of Capital...

Ngày tải lên: 12/06/2014, 19:26

... tangibility and capital structure, and the effect of capital structure on corporate market performance The research process was presented as figure 3: Page 18 Capital Structure and ... study of Rajan and Zingales (1995), and indicating that a firm size is an important determinant of corporate capital structure. Firm capital structure is confirmed to have positive and significant ... Vaninsky (1999), Durand and Coeuderoy (2001), and Tzelepis and Skuras... issue regarding the capital structure and firm performance are important for both academics and practitioners...

Ngày tải lên: 10/07/2014, 15:48

... resources; poor capital structure decisions lead to a possible reduction/loss in the value derived from strategic assets Strategic Management Research and Capital Structure A firm’s capital structure ... the relevance of capital structure for a firm They argued that, under certain conditions, the choice between debt and equity does not affect firm value, and, hence, the capital structure decision ... advantage from its capital structure decision Current research in both strategic management and finance has begun to examine the relationship between firm strategy and its capital structure [52]...

Ngày tải lên: 13/07/2014, 21:13

... growth and leverage. Tong and 19 Green (2005) find significant positive relationship between growth and leverage. Nguyen and Ramachandran (2006) explore the capital structure of 558 Small and Medium ... capital structure and firm performance. Extensive amount of related empirical literature was reviewed to identify the proxies and measurements for capital structure and firm performance and several ... (2007). capital structure and firm efficiency. Journal of Business Finance and Accounting, , 34, 1447-1469. Modigliani, F. and Miller, M. (1958), “The Cost of Capital, Corporation Finance and the...

Ngày tải lên: 22/10/2015, 13:28

... Trang 1CHAPTER 13Capital Structure and Leverage  Business vs financial risk  Optimal capital structure  Operating leverage  Capital structure theory Trang 2 Uncertainty ... (and EPS) swings because of fixed interest charges Its higher expected return is accompanied by higher risk Trang 16Optimal Capital Structure That capital structure (mix of debt, preferred, and ... greater at any debt level, and the optimal capital structure would be one that had less debt On the other hand, lower business risk would lead to an optimal capital structure with more debt Trang...

Ngày tải lên: 17/08/2018, 14:22

... between fixed effects model and random effects model 45 Table 4.5: Corporate performance and capital structure 47 Table 4.6: Corporate performance and optimal capital structure 49 Table ... optimal capital structure decision The reverse causality from corporate performance to capital structure, corporate performance has a significant and positive influence on capital structure in related ... Literature 2.2.1 Theories of capital structure and corporate performance 2.2.2 Theories of reverse causality from corporate performance to capital structure 12 2.3 Empirical Literature...

Ngày tải lên: 29/11/2018, 23:54

... evidence and are deemed as the best predictors for capital structure (Shyam-Sunder and Myers, 1999, Fama and French, 2002) (Shyam -Sunder and Myers, 1999; Fama and French, 2002) Myers and Majluf ... ought to substitute the value capital for outsider capital and the other way around expecting to expand its esteem and discover an aimed capital structure (Parsons and Titman, 2009) Trang 252.1.4 ... by inside and outside investors Thanks to the research on the cost of capital, funds of partnerships, and investment, capital structure stands still for a very long time (Ibrahimo and Barros,...

Ngày tải lên: 07/12/2018, 00:09

... capital structure and its effect on firm value and its performance Modigliani and Miller (1958) were the leading authors to landmark the topic of capital structure and they argued that capital structure ... between debt and equity in their capital structures (Frank & Goyal, 2009) It is rather baffling to try to logically understand capital structure literature because different capital structure ... investigate the relevance of capital structure on firm value and investigate the capital structure of firms in South Africa The results of the analysis on the relevance of capital structure on firm value...

Ngày tải lên: 06/12/2019, 11:26

... capital structure and its effect on firm value and its performance Modigliani and Miller (1958) were the leading authors to landmark the topic of capital structure and they argued that capital structure ... between debt and equity in their capital structures (Frank & Goyal, 2009) It is rather baffling to try to logically understand capital structure literature because different capital structure ... investigate the relevance of capital structure on firm value and investigate the capital structure of firms in South Africa The results of the analysis on the relevance of capital structure on firm value...

Ngày tải lên: 09/01/2020, 19:02

... capital structure and its effect on firm value and its performance Modigliani and Miller (1958) were the leading authors to landmark the topic of capital structure and they argued that capital structure ... between debt and equity in their capital structures (Frank & Goyal, 2009) It is rather baffling to try to logically understand capital structure literature because different capital structure ... investigate the relevance of capital structure on firm value and investigate the capital structure of firms in South Africa The results of the analysis on the relevance of capital structure on firm value...

Ngày tải lên: 14/01/2020, 15:56

... shareholders, creditors and depositors determines banks’ capital structure (Flannery and Sorescu, 1996; Morgan and Stiroh, 2001; Martinez Peria and Schmuckler, 2001; Calomiris and Wilson, 2004; Ashcraft, ... excluding credits and account receivables Most capital structure theories suggest that the type of assets owned by a firm affect its capital structure choice (Titman and Wessels, 1988) Myers and Majluf ... Jarrell, G.A and Kim, E.H (1984) On The Existence of an optimal capital structure: Theory and Evidence Journal of Finance, 39, 857-877 Calomiris, C., and Wilson, B (2004) Bank capital and portfolio...

Ngày tải lên: 26/03/2020, 04:17

... direct material) – (Standard direct labor + Standard direct materials – Standard scrap) ————————————————————————————— = (Standard direct labor + Standard direct materials – Standard scrap) ($145,000 ... Actual direct labor Actual direct materials Actual overhead Standard direct labor Standard direct materials Standard overhead Standard scrap $145,000 580,000 870,000 142,000 542,000 745,000 12,000 ... to the standard amount and assuming that the difference is scrap One problem is that there may be a standard scrap value already included in the bills of material that comprise the standard cost...

Ngày tải lên: 14/08/2014, 22:20

... chapter are by no means difficult The discussion is confined to the simplest and most understandable spreadsheet commands, and avoids the use of complicated macros The discussion focuses on using ... spreadsheet and adds together cells B4 and B5, which contain the cash and accounts receivable figures for the month of January The formula then divides the sum by the accounts payable and accrued ... Roehl-Anderson and Steven M Bragg (John Wiley & Sons, 2000) ch15_4711.qxd 9/13/06 1:09 PM Page 314 314 / Business Ratios and Formulas Trend of gross margins Investigate margins by both product and...

Ngày tải lên: 14/08/2014, 22:20

... Journalism A Handbook of Values and Practices for the News and Editorial Departments “ Reporters, editors, photographers and all members of the news staff of The New York Times share a common and essential ... our patriarch — and to treat readers, news sources, advertisers and others fairly and openly, and to be seen to be doing so The reputation of The Times rests upon such perceptions, and so the professional ... below.) 12 The authority to interpret and apply these guidelines is vested in department heads and ranking editors, most notably in the standards editor and the deputy editorial page editor They...

Ngày tải lên: 06/03/2014, 11:20

... capture and keep the attention (and wallet) of your target customers so your priority projects get noticed and funded for all the right reasons Read it and reap.” —Sam Horn Author of POP! Stand ... franchisees understand and win over prospects It’s a worthy addition to any customer experience training process.” —Brian Scudamore Founder and CEO, 1-800-GOT-JUNK? “ROAR! is a highly clever and entertaining ... Victorious and Profitable, and ready to help you take advantage of your Vast Potential!” —Paul Levitan President and CEO, Galaxy Desserts “Finally in ROAR! I found a book that is both inspiring and...

Ngày tải lên: 07/04/2014, 11:11

... research and development centers (FFRDCs) The research was conducted in the Safety and Justice Program within RAND Infrastructure, Safety, and Environment division The mission of RAND Infrastructure, ... its director, Andrew Morral (Andrew_Morral@rand.org) Preface v The RAND Gulf States Policy Institute The RAND Gulf States Policy Institute (RGSPI) is a collaboration among RAND and seven universities ... officers and civilians; and ways to improve the morale of the NOPD For each topic, we discuss the problem facing the NOPD and the lessons RAND has learned from previous studies and research and offer...

Ngày tải lên: 15/03/2014, 20:20

... as well as pro- • Success in the sales and marketing departments is measured differently moting the brand, and sales has the insight and selling • Sales and marketing have a different vision of ... sales and marketing closer together And, we will applications, and enabling technologies for bringing propose a closed-loop framework for sales and marketing to achieve a collaborative, unified and ... plans to drive awareness and build demand based on an ROI for lead acquisition, ad recall and response rates In the long term, marketers are spending time on branding and positioning, which is...

Ngày tải lên: 15/03/2014, 22:20

... access and information networks; the continual reengineering of work, and the growth of internal and external business partnership These challenges demand a clear focus on relevant leadership and ... Branch’s structure Vietnam Airlines’ BOM and BOD Vietnam Airlines’ BOM and BOD Region Branches (Northern) Region Branches (Northern) Cargo Cargo Dept Dept Pass Sales and Pass Sales and Promotion ... requirements and traits of task and future planning of company… All of these were the opening questions They can help the managers give their ideas and demands to complete the answers for each question And...

Ngày tải lên: 04/12/2014, 08:49

... brand-building and demand generation go hand-in-hand, we will continue to see companies embrace the idea that demandgen can build the brand and drive revenue, a shift away from the “build the brand and ... -Amanda Kahlow, CEO of 6sense Brand and direct marketing will continue to converge … We’ve seen the movement towards data-driven marketing most recently in social and content marketing While brand-building ... problems, often as they relate to demand Everyone is taking an idea and making it better and most of the innovation we see is less about who “creates” the next big thing and more about who makes the...

Ngày tải lên: 16/02/2016, 18:36

... Basics - Branding  A brand is a promise Comprised of both tangible and intangible values that form a relationship with the customer    It is always the consumer’s point of view The brand can ... our competitors  What makes us stand out and absolutely appealing  The reason we can penetrate markets 33 “Brand You” Now let’s take the marketing concepts and relate them to you Remember “You’re ... Remember “You’re all you’ve got So make the most of it.” 34 “Brand You” Think about your personal ‘brand’ – your peer review 35 Branding and selling yourself        Likeability (show a genuine...

Ngày tải lên: 18/08/2013, 12:41