Download or read book Optimal Financing Decisions written by Alexander Allan Robichek and published by . This book was released on 1965 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Optimal Financing Decisions by Alexander A Robicheck and Stewart C Myers written by Alexander A. Robichek and published by . This book was released on 1965 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Optimal financing decisions written by Alexander A. Robichek and published by . This book was released on 1965 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Optimal Financing Decisions by Alexander A Robichek and Stewart C Meyers written by Alexander A. Robichek and published by . This book was released on 1965 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financing decision written by Florian Voigt and published by GRIN Verlag. This book was released on 2005-12-05 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2004 in the subject Business economics - Investment and Finance, grade: 85%, Stellenbosch Universitiy, language: English, abstract: The financing strategy is the mix of capital chosen by each enterprise. This strategy is of extreme importance, because it can have a profound effect on the value of the enterprise. In general, firms have different possibilities to design its capital structure. Debt can be issued in a large quantity or only in a small amount. Furthermore, warrants, convertible bonds, caps, callers or preferred stock can be issued. Firms can use lease financing, bond swaps or forward contracts. The variations in capital structures are infinite, due to the endless number of financing instruments. Variables such as demand and supply, the capital requirement, the price of capital (interest rates), types of security, etc. are given at a particular point in time. We will discuss how a firm should finance in order to establish an optimal combination of equity and debt capital in the interests of the welfare of the owners. Uncertainty and risk are central to the financing problem and therefore financing must in essence be dynamic by nature. The single most important basis for making any financial decision is prognosis. The techniques used are mainly those of budgets and analysis by means of ratios. Prognosis, income expectations and developments in the money and capital markets, play a central role as the single most important basis of each financing decision. The optimal combinations of equity capital and debt to maximise the interest of the owners, are achieved by means of the sensible use of debt. The question thus arises to what extent this approach can be utilised and therefore the determining factors of the financial structure must be considered in more detail. This paper will focus on these factors. It will not discuss sources of financing in detail, which should be treated as a separate topic.

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 The Firm s Optimal Financial Decisions written by Andrew Joseph Senchack and published by . This book was released on 1973 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investment and Financing Decisions in the Presence of Time to Build written by Haejun Jeon and published by . This book was released on 2018 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate a firm's optimal investment, financing, and default decisions when it takes an uncertain amount of time and running costs to complete a project. A firm that makes an optimal financing decision delays investment in the presence of time-to-build, whereas a highly levered firm hastens such investment despite the lags. The optimal leverage ratio is inverted U-shaped with respect to the size of the lags. Although the equity holders can choose to default before the project is completed, the default probability is lower than that in the absence of time-to-build in most cases. The probability of default before the project's completion increases as the project becomes more profitable. When a firm can shorten expected time-to-build by bearing more costs, an unlevered firm strives to reduce the lags more than an optimally levered firm does. When the firm is highly levered, however, it invests more resources to shorten the lags than the all-equity firm does.

Download or read book Tax and Optimal Capital Budgeting Decisions written by Suzanne Farrar and published by Routledge. This book was released on 2020-04-22 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1999, this volume responds to the system of corporate taxation in the UK and aims to develop mathematical programming models which determine the optimum combination of investment decisions and financing methods for capital budgeting on a post-tax basis, incorporating specific important areas not previously examined in the literature. Suzanne Farrar also aims to achieve operational experience of these models, in order to gain insights into the impact of taxation on project appraisal in complex situations where several potentially distorting tax effects operate simultaneously, and the general practical feasibility of operational use. Beginning with capital investment and the UK Corporate Tax System, Farrar moves onto capital investment appraisal, tax and optimal financing, optimisation models in capital budgeting, the mathematical programming model and operational use of that model.

Download or read book Optimal Control Theory for Financing Models of Regulated Firms written by Weerasak Suk-Anarak and published by . This book was released on 1980 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investment Decisions and Financial Strategy written by Richard Pike and published by Philip Allan. This book was released on 1986 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book considers the theory and practice of investment (including tax implications), the appraisal of specific investment decisions, financial strategy, and the investment process.

Download or read book Financing Decisions in Business written by John Freear and published by . This book was released on 1973 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Capital Structure Decisions in Small and Large Firms written by Zsuzsanna Fluck and published by . This book was released on 2008 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract This paper focuses on the dynamic capital structure of firms: Why firms choose very different capital structure in different stages of their life-cycles? In a model of optimal financial contracting, we investigate whether subsequent financing decisions of firms are affected by the outcome of previous financing decisions. We find that the initial and subsequent financing decisions of the same firm may lead to different security choices. The firms' financing decisions will differ in two respect. First, there will be equilibrium contracts that investors would reject for some small firm, but accept them for an otherwise identical large firm (i.e. when the two firms have identical projects). Secondly, even the set of the equilibrium financial contracts differs in different stages of the firm's lifecycle: some contracts which are never sustainable as an initial contract for a small firm become sustainable for large firms. The reason is the stage-dependency of the control rights of subsequent claimholders: in addition to their own rights, holders of subsequent security issues may also rely on the firm's existing investors to enforce their claims. Whether or not they can do so, depends on the priority structure of the claims.Consistent with empirical evidence, our theory implies a life-cycle pattern of financing: firms will issue outside equity, short-term debt or convertible debt first, then use their retained earnings, issue longer-term debt, or outside equity to satisfy sub-sequent financing needs. A novel result of our analysis is that, despite the presence of severe market imperfections, the Modigliani-Miller indifference result between debt and equity does hold for large firms in our model, but at the same time, it fails to hold for small firms. The intuition is again the interaction between the control rights of subsequent claimholders. Since the control rights of previous securityholders represent an externality for subsequent claimholders, the marginal decision of which security to issue next becomes irrelevant once a firm has sufficient contractual complexity in place.

Download or read book Quantitative Analysis of Financial Decisions written by James C. T. Mao and published by [New York] : Macmillan. This book was released on 1969 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Capital Structure Decisions written by Yamini Agarwal and published by John Wiley & Sons. This book was released on 2013-03-29 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inside the risk management and corporate governance issues behind capital structure decisions Practical ways of determining capital structures have always been mysterious and riddled with risks and uncertainties. Dynamic paradigm shifts and the multi-dimensional operations of firms further complicate the situation. Financial leaders are under constant pressure to outdo their competitors, but how to do so is not always clear. Capital Structure Decisions offers an introduction to corporate finance, and provides valuable insights into the decision-making processes that face the CEOs and CFOs of organizations in dynamic multi-objective environments. Exploring the various models and techniques used to understand the capital structure of an organization, as well as the products and means available for financing these structures, the book covers how to develop a goal programming model to enable organization leaders to make better capital structure decisions. Incorporating international case studies to explain various financial models and to illustrate ways that capital structure choices determine their success, Capital Structure Decisions looks at existing models and the development of a new goal-programming model for capital structures that is capable of handling multiple objectives, with an emphasis throughout on mitigating risk. Helps financial leaders understand corporate finance and the decision-making processes involved in understanding and developing capital structure Includes case studies from around the world that explain key financial models Emphasizes ways to minimize risk when it comes to working with capital structures There are a number of criteria that financial leaders need to consider before making any major capital investment decision. Capital Structure Decisions analyzes the various risk management and corporate governance issues to be considered by any diligent CEO/CFO before approving a project.

Download or read book A Decision Theoretic Approach to Optimal Investment Decisions and an Optimal Financial Structure Under Risk written by Franz Josef Sosnowski and published by . This book was released on 1971 with total page 518 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Capital Investment and Financial Decisions written by Haim Levy and published by Prentice Hall. This book was released on 1986 with total page 728 pages. Available in PDF, EPUB and Kindle. Book excerpt: