Download or read book Financial Structure and Economic Growth written by Aslı Demirgüç-Kunt and published by MIT Press. This book was released on 2001 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: CD-ROM contains: World Bank data.
Download or read book Firms Contracts and Financial Structure written by Oliver Hart and published by Clarendon Press. This book was released on 1995-10-05 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a framework for thinking about economic instiutions such as firms. The basic idea is that institutions arise in situations where people write incomplete contracts and where the allocation of power or control is therefore important. Power and control are not standard concepts in economic theory. The book begins by pointing out that traditional approaches cannot explain on the one hand why all transactions do not take place in one huge firm and on the other hand why firms matter at all. An incomplete contracting or property rights approach is then developed. It is argued that this approach can throw light on the boundaries of firms and on the meaning of asset ownership. In the remainder of the book, incomplete contacting ideas are applied to understand firms' financial decisions, in particular, the nature of debt and equity (why equity has votes and creditors have foreclosure rights); the capital structure decisions of public companies; optimal bankruptcy procedure; and the allocation of voting rights across a company's shares. The book is written in a fairly non-technical style and includes many examples. It is aimed at advanced undergraduate and graduate students, academic and business economists, and lawyers as well as those with an interest in corporate finance, privatization and regulation, and transitional issues in Eastern Europe, the former Soviet Union, and China. Little background knowledge is required, since the concepts are developed as the book progresses and the existing literature is fully reviewed.
Download or read book Capital Structure and Corporate Financing Decisions written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2011-03-31 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to making better capital structure and corporate financing decisions in today's dynamic business environment Given the dramatic changes that have recently occurred in the economy, the topic of capital structure and corporate financing decisions is critically important. The fact is that firms need to constantly revisit their portfolio of debt, equity, and hybrid securities to finance assets, operations, and future growth. Capital Structure and Corporate Financing Decisions provides an in-depth examination of critical capital structure topics, including discussions of basic capital structure components, key theories and practices, and practical application in an increasingly complex corporate world. Throughout, the book emphasizes how a sound capital structure simultaneously minimizes the firm's cost of capital and maximizes the value to shareholders. Offers a strategic focus that allows you to understand how financing decisions relates to a firm's overall corporate policy Consists of contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Contains information from survey research describing actual financial practices of firms This valuable resource takes a practical approach to capital structure by discussing why various theories make sense and how firms use them to solve problems and create wealth. In the wake of the recent financial crisis, the insights found here are essential to excelling in today's volatile business environment.
Download or read book Financial Structure and Development written by Raymond William Goldsmith and published by New Haven : Yale University Press. This book was released on 1969 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Structure in Small Business written by D. van der Wijst and published by . This book was released on 1989 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: 46 4. 2 Assumptions and definitions 48 4. 3 Single period models 4. 3. 1 Introduction: the MM-position 48 4. 3. 2 The effect of risk of default and limited liability 50 53 4. 3. 3 The effect of bankruptcy costs 4. 3. 4 The effect of agency costs 58 4. 3. 5 The effect of informational differences 60 4. 4 Multi-period models 63 4. 4. 1 Introduction: additional assumptions and redefinitions 63 65 4. 4. 2 The MM-position 67 4. 4. 3 The effect of limited liability and the risk of default 4. 4. 4 The effect of bankruptcy costs 70 4. 4. 5 The Scott model 72 4. 4. 6 Some extensions of the Scott model 76 4. 5 Conclusions 79 Appendix to chapter 4 82 83 5 Determinants from the practice of small business finance 83 5. 1 Introduction and overview 5. 2 Determinants related to the firm's internal characteristics 85 5. 3 Determinants related to the firm's external relationships 91 6 A comparison and evaluation of both sources 94 6. 1 Comparison and evaluation 94 6. 2 Summary and empirical implications 98 PART III : EMPIRICAL ANALYSES IN SMALL BUSINESS 7 Analyses of samples of individual firms 103 7. 1 Introduction 103 7. 2 Data 104 7. 3 Hypotheses and variables 107 7. 4 Specification and estimation results 113 IV 8 Analyses of industry averages in retailing 131 8. 1 Introduction 131 8. 2 Data 132 8.
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 Capital and Its Structure written by Ludwig M. Lachmann and published by Ludwig von Mises Institute. This book was released on 1956 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Finance and Capital Structure written by Kentaro Asai and published by Routledge. This book was released on 2020-12-30 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise guide for students to quickly grasp the essentials of capital structure theory, providing them with a “shortcut” to the comprehension of important frameworks and a “story” that allows them to see what each model is motivated by and aimed at, especially in relation to competing models. Thereby, the book exclusively allows readers to learn capital structure theory in an efficient and unified manner. In this book, the author captures, in a succinct way, the key frameworks that persistently appear in the corporate finance arena, such as the neutrality of capital structure in a frictionless capital market, trade-off theory, agency theory, security design, and information asymmetry. Suitable both as a core textbook for post-graduate or doctoral level students and as a concise guide for practitioners and regulators.
Download or read book The Capital Structure Decision written by Harold Bierman Jr. and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1958 an academic paper on corporate finance written by two professors (Merton Miller and Frances Modigliani, who were later awarded the Nobel prize for their research efforts) was published in The American Economic Review. One prime conclusion of their paper was that the exact form of a firm's capital structure did not affect the firm's value. Later papers by the same two authors and by many others modified the assumptions and changed this conclusion. We now think that capital structure decisions do affect a firm's value and corporate managers should understand better the financing alternatives that are available. One of the most important financial decisions is the decision to buy or lease assets. The leasing industry is large and getting larger. Unfortunately, it is very easy for a firm to evaluate incorrectly lease alternatives (see Chapter 12). The capital structure decision is one of the three most important financial decisions that management make (the distribution of earnings and the capital budgeting decisions are the other two contenders). Managers should increase their understanding of capital structure alternatives and remember that choosing the best capital structure is an art and not an exact simple calculation. But applying the art can be improved with understanding.
Download or read book IMF Financial Operations 2018 written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2018-04-18 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: IMF Financial Operations 2018 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and provides background detail on the financial statements. It reviews the IMF's three main activities: lending, surveillance, and technical assistance.
Download or read book Strategic Corporate Finance written by Justin Pettit and published by John Wiley & Sons. This book was released on 2011-07-12 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essential guidance for the corporate finance professional — advisor, Board Director, CFO, Treasurer, business development executive, or M&A expert—to ask the right questions and make the critical decisions. Strategic Corporate Finance is a practical guide to the key issues, their context, and their solutions. From performance measurement and capital planning to risk management and capital structure, Strategic Corporate Finance, translates principles of corporate finance theory into practical methods for implementing them. Filled with in-depth insights, expert advice, and detailed case studies, Strategic Corporate Finance will prepare you for the issues involved in raising, allocating and managing capital, and its associated risks. Justin Pettit (New York, NY) draws on his 15 years of senior advisory experience as an investment banker and management consultant. He advises corporate boards and executives on matters of capital structure, financial policy, valuation, and strategy. He also lectures on topics in advanced corporate finance to graduate and undergraduate students at universities in the New York area.
Download or read book Pension Design and Structure written by Olivia S. Mitchell and published by Oxford University Press. This book was released on 2004-07-15 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employees are being given more and more decisions to make with regards to their pension and healthcare plans. Yet increasing research in the social sciences shows that the decisions 'real' people make are not those of the thoughtful and well-informed economic agent often portrayed in economic research, but are often based on flawed information and made without a full understanding of their financial implications. The contributors to Pension Design and Structure explore theassumptions behind commonly-held theories of retirement decision-making, and the consequences of the growing volume of research in behavioural finance and economics for the field of pension research. Contributors are drawn from a variety of disciplines, and include leading pensions experts.
Download or read book The Handbook of Financing Growth written by Kenneth H. Marks and published by John Wiley & Sons. This book was released on 2005-05-31 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the strategies, capital structure, and fund raising techniques for emerging growth and middle-market companies. Here is a comprehensive and practical guide to understanding and applying the basics of corporate finance to emerging growth and middle-market companies. Using empirical data and actual company cases to illustrate capital structures and financing approaches, the book provides a detailed discussion of the many funding instruments, from traditional bank loans and asset-based financing to different types of private equity and other creative solutions; the types of funding sources and their expected rates of returns; and typical deal terms.
Download or read book Financial Structure Analysis of Basic Chemical and Chemical Product Companies in India written by Dr. (CA) Pradeep D. Kamthekar and published by Lulu.com. This book was released on 2018-05 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Land, Labour Capital (i.e. Finance) and Organisation are the four basic constituents of business. Finance more particularly plays a pivotal role in every business firm. Finance here means the money required to start, carry out and continue the business. It is represented by the assets composition of the business. It is said to be the lifeline of the business.
Download or read book The Structure of Financial Regulation written by David Mayes and published by Routledge. This book was released on 2007-01-18 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the area of financial regulation in the banking sector. Editors Mayes and Wood bring together such acadmics as Charles Goodhart, Charles Calomiris and Kern Alexander whose expertise shines through this volume to provide a reference tool for researchers, students and bankers themselves which will prove invaluable.
Download or read book Project Finance in Theory and Practice written by Stefano Gatti and published by Academic Press. This book was released on 2012-08-22 with total page 495 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stefano Gatti describes the theory that underpins this cutting-edge industry, and then provides illustrations and examples from actual practice to illustrate that theory.
Download or read book Capital Structure and Shari ah Compliance of non Financial Firms written by Ramazan Yildirim and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-03-22 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the present financial world, various niche markets play an increasingly important role. One of the fastest-growing niches is, without a doubt, Islamic finance. Indeed, sustainable finance needs constantly evolving innovations, and this book offers valuable insights into Islamic capital structure and Shari’ah equity screening enriching academic discourse. "In recent years, we have witnessed the emergence of a new generation of academics and professionals specializing in various aspects of Islamic finance as knowledge and practice. This has brought about a new dynamism and also further sophistication. This book is one of such contributions, as it develops knowledge which is then transformed into practice whereby practical impact is also achieved. Being an academic book, it provokes readers’ thoughts, offering a critique of the implications of the currently applied Shari’ah screenings methodologies. As a transformative practical piece, by developing an innovative screening ratio, in this book, Dr. Yildirim extends his focus on the risk-sharing based financing hierarchy, covers thoughts and the underlying philosophy, and proposes an Islamic version of a pecking order hierarchy. This framework can be considered the foundation for developing an Islamic capital structure theory. This book will benefit academics, professionals, investors, as well as policymakers working in the Islamic finance industry and would like to explore more." (Professor Dr. Mehmet Asutay, Durham University Business School, UK) "This book offers, for the first time after the inception of Shari’ah screening methodologies, a groundbreaking new stock screening solution that is comprehensible, practical, and foremost entirely derived from the primary sources of Islam (Qur’an and Sunnah). Congratulations to Dr. Ramazan for his outstanding contribution to Islamic finance and capital markets." (Associate Professor Dr. Ahcene Lahsasna) "This excellent book is a must-have for all corporate finance students/researchers interested in the theoretical aspect of capital structure and the religious discussion of Shari’ah equity screening. This book should become a companion to those involved in a quantitative research environment and aim to conduct a comparative analysis; an ideal resource for everyone, from Shari’ah scholars to Islamic finance practitioners and beginners to experts." (Professor Dr. M. Kabir Hassan, University of New Orleans, USA)
