Download or read book Changing Balance Sheet Relationships in the U S Manufacturing Sector 1926 1977 written by John Ciccolo and published by . This book was released on 1981 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents trends in the sources and uses of funds, market valuations, and rates of return for a sample of U.S. manufacturing firms during the half -century ending in 1977. The major objective of the paper is to construct economic balance sheet relationships based on securities market valuations rather than on the more familiar book values used for accounting purposes. Among the more interesting long-term trends highlighted in the analysis is the finding that the widely recognized increase in debt in manufacturing firms' capitalization has come primarily at the expense of .preferred stock. A second interesting point is the contrast between the sharp fall in common equity values in 1929-32, which was entirely reversed by 1936, and the even sharper post-1968 decline which was not reversed by 1977 nor, for that matter, by 1981. This paper is an introduction to a more comprehensive study which will be part of the second stage of the Debt/Equity Research Project. [Resumen de autor]
Download or read book Changing Balance Sheet Relationships in the U S Manufacturing Sector 1926 77 written by John Henry Ciccolo and published by . This book was released on 1981 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents trends in the sources and uses of funds, market valuations, and rates of return for a sample of U.S. manufacturing firms during the half -century ending in 1977. The major objective of the paper is to construct economic balance sheet relationships based on securities market valuations rather than on the more familiar book values used for accounting purposes. Among the more interesting long-term trends highlighted in the analysis is the finding that the widely recognized increase in debt in manufacturing firms' capitalization has come primarily at the expense of .preferred stock. A second interesting point is the contrast between the sharp fall in common equity values in 1929-32, which was entirely reversed by 1936, and the even sharper post-1968 decline which was not reversed by 1977 nor, for that matter, by 1981. This paper is an introduction to a more comprehensive study which will be part of the second stage of the Debt/Equity Research Project.
Download or read book Changing Balance Sheet Relationships in the U S Manufacturing Sector 1926 77 written by John C. Ciccolo and published by . This book was released on 1981 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Changes in the Balance Sheet of the U S Manufacturing Sector 1926 1977 written by John C. Ciccolo jr. and published by . This book was released on 1981 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Capital Structures in the United States written by Benjamin M. Friedman and published by University of Chicago Press. This book was released on 2009-05-15 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: The research reported in this volume represents the second stage of a wide-ranging National Bureau of Economic Research effort to investigate "The Changing Role of Debt and Equity in Financing U.S. Capital Formation." The first group of studies sponsored under this project, which have been published individually and summarized in a 1982 volume bearing the same title (Friedman 1982), addressed several key issues relevant to corporate sector behavior along with such other aspects of the evolving financial underpinnings of U.S. capital formation as household saving incentives, international capital flows, and government debt management. In the project's second series of studies, presented at the National Bureau of Economic Research conference in January 1983 and published here for the first time along with commentaries from that conference, the central focus is the financial side of capital formation undertaken by the U.S. corporate business sector. At the same time, because corporations' securities must be held, a parallel focus is on the behavior of the markets that price these claims.
Download or read book The Changing Roles of Debt and Equity in Financing U S Capital Formation written by Benjamin M. Friedman and published by University of Chicago Press. This book was released on 2009-05-15 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, consisting of papers presented at a conference held at Williamsburg, Va., 2-3 April 1981, is a progress report on the National Bureau of Economic Research project, The Changing Roles of Debt and Equity in Financing U.S. Capital Formation. The National Bureau has undertaken this project—including the conference, the research described in this volume, and the publication of the volume itself—with the support of the American Council of Life Insurance.
Download or read book Journal of Banking Finance written by and published by . This book was released on 1986 with total page 716 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financing Corporate Capital Formation written by Benjamin M. Friedman and published by University of Chicago Press. This book was released on 2007-12-01 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Six leading economists examine the financing of corporate capital formation in the U.S. economy. In clear and nontechnical terms, their papers provide valuable information for economists and nonspecialists interested in such questions as why interest rates are so high, why corporate debt has accelerated in recent years, and how government debt affects private financial markets. Addressing these questions, the contributors focus chiefly on three themes: the actual use of debt and equity financing by corporations in recent years; the factors that drive the financial markets' pricing of debt and equity securities; and the relationship between corporations' real investment decisions and their financial decisions. While some of the papers are primarily expository, others break new ground. Extending his previous work, Robert Taggart finds a closer relationship between corporate and government debt than has been supposed. Zvi Bodie, Alex Kane, and Robert McDonald conclude in their study that the volatility of interest rates under the Volcker regime has led to a rise in real interest rates because of investors' demand for a greater risk premium. All of the papers present empirical findings in a useful analytical framework. For its new findings and for its expert overview of issues central to an understanding of the U.S. economy, Financing Corporate Capital Formation should be of both historical and practical interest to students of economics and practitioners in the corporate and financial community.
Download or read book The C F A Digest written by Institute of Chartered Financial Analysts and published by . This book was released on 1981 with total page 968 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book EIA Data Index written by and published by . This book was released on 1980 with total page 786 pages. Available in PDF, EPUB and Kindle. Book excerpt: Indexes the tables, graphs, and formatted data presented in the statistical publications of the EIA.
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 1983 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Southern Economic Journal written by and published by . This book was released on 1986 with total page 1152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains section : Book reviews.
Download or read book Macroeconomic Planning and Disequilibrium written by Richard Portes and published by . This book was released on 1983 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Managing the U S Government Deficit in the 1980s written by Benjamin M. Friedman and published by . This book was released on 1983 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the absence of major policy changes, federal government budget deficits will probably constitute a serious impediment to any increase inthe U.S. economy's net investment rate, and may even depress the investment rate still further, during the latter 1980s. The U.S. Government's outstanding debt is now rising sharply in relation to gross national product, and, under either current legislation or the budget policies proposed by the Reagan Administration, it will continue to do so. This sustained upward movement of the government debt ratio will be unprecedented in U.S. peacetime experience. Because government debt and private-sector debt have historically moved inversely in relation to gross national production the United States, a rising government debt ratio over time implies a sustained contraction of private debt relative to the economy's size. This reduction in the private sector's relative debt position in turn implies a constriction of its ability to finance investment in net new capital formation.
Download or read book A Theory of Current Account and Exchange Rate Determinations written by Joshua Aizenman and published by . This book was released on 1983 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper Is to construct a two-period, two-country model that derives the current account, the exchange rate,the terms of trade, and real interest rates from optimal behavior principles.This is done by constructing a model that uses money mainly as a means of exchange, where the technology of exchange is flexible due to potential substitutability of time and real balances as a means of coordinating transactions. The discussion results in a framework that integrates elements of net saving theories and the monetary approach into a unified structure, in which the two approaches are complementary viewpoints.
Download or read book Longitudinal Analyses of the Effects of Trade Unions written by Richard B. Freeman and published by . This book was released on 1983 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines how measurement error biases longitudinal estimates of union effects. It develops numerical examples, statistical models, and econometric estimates which indicate that measurement error is a major problem in longitudinal data sets, so that longitudinal analyses do not provide the research panacea for determining the effects of unionism (or other economic forces) some have suggested. There are three major findings:1) The difference between the cross-section and longitudinal estimates is attributable in large part to random error in the measurement of who changes union status. Given modest errors of measurement, of the magnitudes observed, and a moderate proportion of workers changing union status, also of the magnitudes observed, measurement error biases downward estimated effects of unions by substantial amounts. 2) Longitudinal analysis of the effects of unionism on nonwage and wage outcomes tends to confirm the significant impact of unionism found in cross-section studies, with the longitudinal estimates of both nonwage and wage outcomes lover in the longitudinal analysis than in the cross-section analysis of the same data set. 3) The likely upward bias of cross-section estimates of the effect of unions and the likely downward bias of longitudinal estimates suggests that, under reasonable conditions, the two sets of estimates bound the "true" union impact posited in standard models of what unions do
Download or read book The Theory of Finance written by John D. Martin and published by Harcourt Brace College Publishers. This book was released on 1988 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt:
