A Theory Of Corporate Capital Structure And Investment
DOWNLOAD
Download A Theory Of Corporate Capital Structure And Investment PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get A Theory Of Corporate Capital Structure And Investment book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
A Theory Of Corporate Capital Structure And Investment
DOWNLOAD
Author : Miguel Cantillo
language : en
Publisher:
Release Date : 1995
A Theory Of Corporate Capital Structure And Investment written by Miguel Cantillo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Credit categories.
A Theory Of Corporate Capital Structure And Investment
DOWNLOAD
Author : Miguel Cantillo Simón
language : en
Publisher:
Release Date : 1995
A Theory Of Corporate Capital Structure And Investment written by Miguel Cantillo Simón and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Corporations categories.
A Theory Of Corporate Capital Structure And Investment
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2010
A Theory Of Corporate Capital Structure And Investment written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
This article uses a general equilibrium framework to explore the origins and limitations of financial intermediaries. In the model, investors have a generic lending technology that they can improve at a cost. Those who upgrade become intermediaries to exploit their advantage. However, conflicts with depositors will limit the banks` market presence, and they will only lend to moderately endowed firms while bondholders will finance cash-rich corporations. The article also analyzes the extent to which investors adopt the superior lending technique, the nature of bank competition, and how corporate and bank conditions affect interest rates and investment.
Capital Structure And Corporate Financing Decisions
DOWNLOAD
Author : H. Kent Baker
language : en
Publisher: John Wiley & Sons
Release Date : 2011-05-03
Capital Structure And Corporate Financing Decisions written by H. Kent Baker and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-03 with Business & Economics categories.
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.
A Theory Of Corporate Capital Structure And Investment
DOWNLOAD
Author : Miguel R. Cantillo
language : en
Publisher:
Release Date : 1998
A Theory Of Corporate Capital Structure And Investment written by Miguel R. Cantillo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
This paper analyzes a firm's choice of debt instruments based in a microeconomic model of costly state verification with competitive lending markets and heterogeneous borrowers. In equilibrium, firms with abundant internal funds issue bonds, firms with intermediate resources borrow from banks, and firms with scarce internal funds are credit rationed. These results are derived from two assumptions: first, that intermediaries are better at handling distressed firms than bondholders. The second assumption is that intermediaries have limited internal funds and a risky loan portfolio, and thus a higher cost of capital than bondholders. At an aggregate level, the model provides an investment function with intuitively appealing properties: investment drops with an increase in the risk free interest rate, and with a deterioration of aggregate bank or company financial health.
Corporate Finance And Capital Structure
DOWNLOAD
Author : Kentaro Asai
language : en
Publisher: Routledge
Release Date : 2020-12-30
Corporate Finance And Capital Structure written by Kentaro Asai and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-30 with Business & Economics categories.
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.
Generalized Modigliani Miller Theory
DOWNLOAD
Author : Peter Brusov
language : en
Publisher: Springer Nature
Release Date : 2022-03-28
Generalized Modigliani Miller Theory written by Peter Brusov and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-28 with Business & Economics categories.
The original theory of capital cost and capital structure put forward by Nobel Prize Winners Modigliani and Miller has since been modified by many authors, and this book discusses some of them. The book’s authors have created general theory of capital cost and capital structure – the Brusov–Filatova–Orekhova (BFO) theory, which generalizes the Modigliani–Miller theory to encompass companies of an arbitrary age (and arbitrary lifetime). Despite the availability of this more general theory, the classical Modigliani–Miller theory is still widely used in practice. In this book, the authors for the first time generalize it for cases of practical relevance: for the case of variable profit; for the case of advance tax-on-profit payments and interest on debt payments; for the case of several tax-on-profit and interest on debt payments per period; and for the combination of all three effects. These generalizations lead to valuable theoretical results as well as significantly widen of practical application this theory in practice and increase of the quality of finance management of the company. As well, the book investigates the applications of said results in corporate finance, investments, taxation and ratings, where employing a generalized Modigliani–Miller theory can be very fruitful.
Modern Corporate Finance Investments Taxation And Ratings
DOWNLOAD
Author : Peter Brusov
language : en
Publisher: Springer
Release Date : 2018-11-11
Modern Corporate Finance Investments Taxation And Ratings written by Peter Brusov and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-11 with Business & Economics categories.
This monograph is devoted to a modern theory of capital cost and capital structure created by this book’s authors, called the Brusov–Filatova–Orekhova (BFO) theory, and its application to the real economy. BFO theory promises to replace the traditional theory of capital cost and capital structure by Nobel laureates Modigliani and Miller. This new theory in particular, presents a possible explanation to the causes of the recent global financial crisis. The authors of the book describe the general theory of capital cost and capital structure that can be applied to corporations of arbitrary age (or with arbitrary lifetime) and investment projects with arbitrary duration. The authors illustrate their theory with examples from corporate practice and develop investment models that can be applied by companies in their financial operations. This updated second edition includes new chapters devoted to the application of the BFO theory in ratings, banking and other areas. The authors also provide a new approach to rating methodology highlighting the need for including financial flow discounting, the incorporation of rating parameters (in particular, financial ratios) into the modern theory of capital structure - BFO theory. This book aims to change our understanding of corporate finance, investments, taxation and rating procedures. The authors emphasize that the most used principles of financial management should be changed in accordance to BFO theory.
Modern Corporate Finance Investments And Taxation
DOWNLOAD
Author : Peter Brusov
language : en
Publisher: Springer
Release Date : 2015-06-02
Modern Corporate Finance Investments And Taxation written by Peter Brusov and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-02 with Business & Economics categories.
This monograph is devoted to the modern theory of capital cost and capital structure and its application to the real economy. In particular, it presents a possible explanation to the causes of global financial crisis. The authors of the book modify the theory of Nobel Prize winners Modigliani and Miller to describe an alternative theory of capital cost and capital structure that can be applied to corporations with arbitrary lifetime and investment projects with arbitrary duration. The authors illustrate their theory with examples from corporate practice and develop investment models that can be applied by companies in their financial operations.
Corporate Finance
DOWNLOAD
Author : Aswath Damodaran
language : en
Publisher:
Release Date : 1997
Corporate Finance written by Aswath Damodaran and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
A text with a thoroughly integrated applications orientation revolving around the philosophy that companies need to know how to finance organizations in order to reach optimal capital structure. Recognizing that every investment decision involves choosing the right amount of debt and equity, the text suggests readers look at data and ask, "What is relevant? Why is this detail important? How does it answer the question?"