Download or read book What Do We Know About the Capital Structure of Privately Held Firms Evidence from the Surveys of Small Business Finance written by Rebel A. Cole and published by . This book was released on 2014 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study establishes a set of stylized facts about the capital-structure decisions of privately held U.S. firms, using data from four nationally representative surveys conducted from 1987-2003. Book-value firm leverage, as measured by either the ratio of total loans to total assets or the ratio of total liabilities to total assets, is negatively related to firm age and minority ownership; and is positively related to industry median leverage, the corporate legal form of organization, and to the number of banking relationships. In general, these results provide mixed support for both the Pecking Order and Trade-Off theories of capital structure.
Download or read book Capital Structure in the Modern World written by Anton Miglo and published by Springer. This book was released on 2016-07-20 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on microeconomic foundations of capital structure theory. It combines theoretical results with a large number of examples, exercises and applications. The book examines fundamental ideas in capital structure management, some of which are still not very well understood in the business community, such as Modigliani and Miller’s irrelevance result, trade-off theory, pecking-order theory, asset substitution, credit rationing and debt overhang. Chapters also cover capital structure issues that have become very important following the recent financial crisis. Miglo discusses the ways in which financial economists were forced to look critically at capital structure, as the problems faced by many companies stemmed from their financing policies following the crisis. The book also discusses links between capital structure and firm’s performance, corporate governance, firm’s strategy and flexibility, and covers such topics as life cycle approach to capital structure management, capital structure of small and start-up companies, corporate financing versus project financing and examples of optimal capital structure analyses for different companies. This comprehensive guide to capital structure theory will be of interest to all students, academics and practitioners seeking to understand this fast-developing and critical area of business management.
Download or read book The Small Business Economy 2009 A Report to the President written by and published by Government Printing Office. This book was released on 2004 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Oxford Handbook of Entrepreneurial Finance written by Douglas Cumming and published by Oxford University Press. This book was released on 2012-02-10 with total page 936 pages. Available in PDF, EPUB and Kindle. Book excerpt: The topic of Entrepreneurial Finance involves many issues, including but not limited to the risks and returns to being an entrepreneur, financial contracting, business planning, capital gaps and the availability of capital, market booms and busts, public policy and international differences in entrepreneurial finance stemming from differences in laws, institutions and culture. As these issues are so extremely broad and complex, the academic and practitioner literature on topic usually focuses on at most one or two of these issues at one time. The Oxford Handbook of Entrepreneurial Finance provides a comprehensive picture of issues dealing with different sources of entrepreneurial finance and different issues with financing entrepreneurs. The Handbook comprises contributions from 48 authors based in 12 different countries. It is organized into seven parts, the first of which introduces the issues, explains the organization of the Handbook, and briefly summarizes the contributions made by the authors in each of the chapters. Part II covers the topics pertaining to financing new industries and the returns and risk to being an entrepreneur. Part III deals with entrepreneurial capital structure. Part IV discusses business planning, funding and funding gaps in entrepreneurial finance with a focus on credit markets. Part V provides analyses of the main alternative sources of entrepreneurial finance. Part VI considers issues in public policy towards entrepreneurial finance. Part VII considers international differences in entrepreneurial finance, including analyses of entrepreneurial finance in weak institutional environments as well as microfinance.
Download or read book The Small Business Advocate written by and published by . This book was released on 2004-12 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book What Do We Know about the Capital Structure of Small Firms written by Karin Joeveer and published by . This book was released on 2008 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are no stylized facts about the capital structure of small firms. Therefore, in this paper I use firm data from 10 Western European countries to contrast the sources of leverage across small and large firms. Specifically, I jointly evaluate the explanatory power of firm-specific, country of incorporation institutional, and macroeconomic factors. Using data that is more comprehensive in coverage than that used in the existing research, I confirm the stylized facts of the capital structure literature for large and listed firms, but I obtain contrasting evidence for smaller companies: First, the country of incorporation carries much more information for small firms supporting the idea that small firms are more financially constrained and face non-firm-specific hurdles in their capital structure choice. Second, using two different leverage measures I show that the relationship of firm size and tangibility to leverage is robust to the measure used for listed, but not for unlisted, firms.
Download or read book The New Geography of Capitalism written by Adam D. Dixon and published by Oxford University Press. This book was released on 2014 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title advances a perspective rooted in economic geography for explaining the changing relationship between contemporary welfare states, firms, and global financial markets.
Download or read book Federal Register written by and published by . This book was released on 2013-11 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book De Gruyter Handbook of Personal Finance written by John E. Grable and published by Walter de Gruyter GmbH & Co KG. This book was released on 2022-03-07 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt: The De Gruyter Handbook of Personal Finance provides a robust review of the core topics comprising personal finance, including the primary models, approaches, and methodologies being used to study particular topics that comprise the field of personal finance today. The contributors include many of the world’s leading personal finance researchers, financial service professionals, thought leaders, and leading contemporary figures conducting research in this area whose work has shaped—and continues to affect—the way that personal finance is conceptualized and practiced. The first section of the handbook provides a broad introduction to the discipline of personal finance. The following two sections are organized around the core elements of personal finance research and practice: saving, investing, asset management, and financial security. The fourth section introduces future research, practice, and policy directions. The handbook concludes with a discussion on an educational and research agenda for the future. This handbook will be a core reference work for researchers, financial service practitioners, educators, and policymakers and an excellent supplementary source of readings for those teaching undergraduate and graduate-level courses in personal finance, financial planning, consumer studies, and household finance.
Download or read book Advanced Introduction to Entrepreneurship written by Robert D Hisrich and published by Edward Elgar Publishing. This book was released on 2014-09-26 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: øElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by some of the world�s leading scholars. Designed to be accessible yet rigorous, they offer concise an
Download or read book Research Anthology on Strategies for Maintaining Successful Family Firms written by Management Association, Information Resources and published by IGI Global. This book was released on 2021-08-27 with total page 1146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Family-owned businesses account for many of the small and medium-sized enterprises that exist around the world in various industries. Due to their unique make up, these firms are often heavily influenced by family dynamics that must be reconciled by family and non-family workers alike in order to ensure the sustainability of the business. As smaller businesses competing against an increasingly globalized economy and more directly impacted by economic instability, especially in the wake of the COVID-19 pandemic, these businesses must continue to improve their practices and processes in order to not only survive but thrive. The Research Anthology on Strategies for Maintaining Successful Family Firms discusses the strategies, sustainability, and human aspects of family firms in order to understand what sets them apart from other businesses and how they can survive and compete in a globalized economy. This book discusses the unique dynamic brought by family firms that offers both opportunities and challenges for a growing business. Covering topics such as corporate venturing, the family unit, and business ethics, this text is an essential resource for family firms, entrepreneurs, managers, business students, business professors, researchers, and academicians.
Download or read book Resourcing Small and Medium Sized Enterprises written by Ciarán Mac an Bhaird and published by Springer Science & Business Media. This book was released on 2010-03-17 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a world of increasing financial uncertainty and growing unemployment, the macroeconomic contribution of SMEs is more important than ever. Development of a vibrant, sustainable small firm sector is dependent on sufficient resourcing of SMEs, particularly adequate capitalisation. This book provides a timely examination of SME financing and determinants of capital structure. A special feature of this book is the novel methodological approach adopted, providing an innovative perspective on SME financing. Analysis of stated financing preferences and objectives of SME owners is combined with results of statistical analysis of firm characteristics in exploring holistic explanations for observed capital structures. The uniqueness of this approach is in the contribution of data on financing preferences to supplement and contextualise results of bivariate and multivariate statistical tests. This methodology extends the SME literature, and is of interest to academics, researchers, practitioners and policy makers.
Download or read book Optimal Management Strategies in Small and Medium Enterprises written by Vemi?, Milan B. and published by IGI Global. This book was released on 2017-01-18 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business sustainability is becoming increasingly difficult amongst the demands of today’s markets. By implementing new and dynamic practices, organizations can optimize their day-to-day operations and improve competitive advantage. Optimal Management Strategies in Small and Medium Enterprises is a key source on the latest innovations in enhancing all main management functions, such as working capital and marketing, and examines how to implement sustainable business management practices. Featuring extensive coverage across a range of relevant perspectives and topics, such as human resources development, market orientation, and knowledge management, this book is ideally designed for business managers, professionals, graduate students, and researchers working in the field of smaller-scale business development initiatives.
Download or read book The Routledge Companion to Family Business written by Franz Kellermanns and published by Routledge. This book was released on 2016-09-13 with total page 846 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Companion to Family Business offers a definitive survey of a field that has seen rapid growth in research in recent years. Edited by leading scholars with contributions from the top minds in family business from around the world, this volume provides researchers and scholars with a comprehensive understanding of the state of the discipline. Over 25 chapters address a wide variety of subjects, providing readers with a thorough review of the key research themes in the modern family firm, such as corporate social responsibility and bank debt rationing. International examples cover a wide range of economies including China, Europe, and Latin America. The book will appeal to undergraduates, postgraduates and business instructors seeking a definitive view of the issues and solutions that affect and support family business.
Download or read book Capital Structure and Firm Performance written by Arvin Ghosh and published by Routledge. This book was released on 2017-07-05 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital structure theory is one of the most dynamic areas of finance and forms the basis for modern thinking on the capital structure of firms. Much controversy has resulted from comparisons of the theory of capital structure originally developed by Franco Modigliani and Merton Miller to real-world situations. Two competing theories have emerged over the years, the optimal capital structure theory and the pecking order theory.Arvin Ghosh begins with an overview of the controversies regarding capital structure theories, and then statistically tests both the optimal capital structure and pecking order theories. Using the binomial approach he analyzes the determinants of capital structure while discussing the role of market power in determining capital structure decisions. Ghosh probes the questions of new stock offerings and stockholders' returns, and analyzes capital structure and executive compensation. He then looks into debt financing ownership structure, and the controversal relationship between capital structure and firm profitability. Finally, he discusses the latest developments in the field of capital structure.A concise overview of a major issue in business economics and finance, this volume provides a fuller understanding of capital structure influence on the financial performance of firms, and will certainly stimulate further debate. While hundreds of scholarly articles have been written on the subject this is the first book to test competing theories against measurements of firms' performance and their underlying capital structure.
Download or read book Determinants of Capital Structure in Small Privately Held Firms written by Nicos Michaelas and published by . This book was released on 1996 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategies to Sustain Small Businesses Beyond 5 Years written by Dr. Kayaso Wani and published by Christian Faith Publishing, Inc.. This book was released on 2022-08-01 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: Starting a business might sound easy, but sustaining it to be successful is challenging. People are often afraid to start new businesses because at least everyone has known someone who started a business but failed or someone struggling to sustain a business. Starting your own business and staying successful is the most exciting achievement. This book Strategies to Sustain Small Businesses Beyond 5 Years is used worldwide to help aspiring or struggling business owners succeed. The book is for anyone interested in doing business. aEURC/ You might be a passionate creator, starting your business out of love for what you do and believing that passion is a crucial quality of success; running your business gives you a sense of accomplishment and pride. aEURC/ You might be a freedom seeker, starting your small business; you value the ability to control your work experience and want to be in charge of your own schedules, career path, and work environment. aEURC/ You might be a legacy builder, starting a business to bring something new to the marketplace, practical in your approach to business ownership. aEURC/ You might be a struggling survivor profile representing the cold, hard truth of business ownership. aEURC/ You might be a Jack of all trades in your business, spreading too thin from managing directive, sales administrative duties to customer service. This book is the path to success in your business. Sometimes running a small business is more frightening than rewarding, and the fear is real, deeply rooted in you facing the challenges of ownership every day. The motivation of a small business owner is as diverse as the business itself. ItaEUR(tm)s very important to understand your category to know your strengths and weaknesses to adjust accordingly.
