Capital Structure And Corporate Performance
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Capital Structure And Corporate Performance
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Author : Veronika Koptleuova
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2011-10
Capital Structure And Corporate Performance written by Veronika Koptleuova and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10 with categories.
The objective of the current research is to investigate the effect of capital structure on corporate performance using 40 Malaysian listed companies during 2001-2008. Panel data analysis is used to investigate the relations between five measures of capital structure and corporate performance. Using various measurements of corporate performance, the results of this study suggest that firm's capital structure has a significant negative impact on the firm's accounting performance which indicates that agency cost problem can affect Malaysian companies followed by high debt policies, consequently resulting in lower firm performance. However, results also suggest that all capital structure ratios except short-term debt ratio have significant positive influence on market performance measurements, which indicates that capital structure and firm performance depend on rising share prices that affect positively on firm's market performance ratio. The main value of this study is the analysis of the impact of various capital structure measures on corporate performance of Malaysian companies.
Capital Structure And Firm Performance
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Author : Arvin Ghosh
language : en
Publisher: Transaction Publishers
Release Date : 2011-12-31
Capital Structure And Firm Performance written by Arvin Ghosh and has been published by Transaction Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-31 with Business & Economics categories.
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.
Capital Structure Equity Ownership And Corporate Performance
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Author : Krishna Dayal Pandey
language : en
Publisher: Taylor & Francis
Release Date : 2023-08-16
Capital Structure Equity Ownership And Corporate Performance written by Krishna Dayal Pandey and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-16 with Business & Economics categories.
This book provides empirical insights into the relationship between capital and equity-ownership structure of Indian manufacturing companies and their financial performance. It discusses and analyses the basic theories and concepts associated with capital structure, debt financing, levered and unlevered firms, the various forms of ownership, agency problem and its kind and the exploitation of minority owners by the large and largest owners. The study employs a set of the most reliable and suitable econometric estimation techniques to draw meaningful inferences on the Indian manufacturing sector. The novelty of this book lies in three particular aspects: the depth and dimension with which the topic is addressed; the robust empirical evidence that it has produced and the simple and intelligible approach with which it is authored. It communicates the crucial relevance of corporate capital structure and equity-ownership to the moderation of agency relationship and shaping the internal governance mechanism, which ultimately results in increased or decreased operational efficiency and financial performance. It will enable readers to understand whether an increased amount of debt capital would bring about positive results for firms or create an extra burden on the management of their finances, preventing them from taking productive investment decisions due to the threat of liquidation. The book will find an audience among advanced students, scholars and researchers who are interested in understanding the corporate finance practices and governance mechanism of Indian organizations.
Capital Structure Equity Ownership And Corporate Performance
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Author : Krishna Dayal Pandey
language : en
Publisher: Taylor & Francis
Release Date : 2023-08-16
Capital Structure Equity Ownership And Corporate Performance written by Krishna Dayal Pandey and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-16 with Business & Economics categories.
This book provides empirical insights into the relationship between capital and equity-ownership structure of Indian manufacturing companies and their financial performance. It discusses and analyses the basic theories and concepts associated with capital structure, debt financing, levered and unlevered firms, the various forms of ownership, agency problem and its kind and the exploitation of minority owners by the large and largest owners. The study employs a set of the most reliable and suitable econometric estimation techniques to draw meaningful inferences on the Indian manufacturing sector. The novelty of this book lies in three particular aspects: the depth and dimension with which the topic is addressed; the robust empirical evidence that it has produced and the simple and intelligible approach with which it is authored. It communicates the crucial relevance of corporate capital structure and equity-ownership to the moderation of agency relationship and shaping the internal governance mechanism, which ultimately results in increased or decreased operational efficiency and financial performance. It will enable readers to understand whether an increased amount of debt capital would bring about positive results for firms or create an extra burden on the management of their finances, preventing them from taking productive investment decisions due to the threat of liquidation. The book will find an audience among advanced students, scholars and researchers who are interested in understanding the corporate finance practices and governance mechanism of Indian organizations.
Capital Structure And Firm Performance
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Author : Ewelina Sokołowska
language : en
Publisher: Taylor & Francis
Release Date : 2024-12-11
Capital Structure And Firm Performance written by Ewelina Sokołowska and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-12-11 with Business & Economics categories.
In the complex world of finance, understanding the relationship between a company's capital structure and its overall performance is crucial. This book offers a comprehensive exploration of the interdependence between capital structure decisions and business performance, with a specific focus on German-listed companies. It provides valuable insights into the intricate dynamics of corporate finance. Through a blend of theoretical frameworks, empirical research, and practical applications, the book presents readers with a thorough understanding of how capital structure decisions impact a company's profitability, risk profile, and long-term sustainability. From traditional theories of capital structure to cutting-edge empirical methodologies, the book outlines the latest developments in the field, offering practical tools and strategies for optimising financial decision-making. Moreover, the book explores how different regions and global trends influence capital structure decisions, providing a comprehensive examination of varying practices and the factors that shape them. It delves into specific aspects influencing global capital structures, including an analytical comparison of capital structures across key global markets such as the United States, the European Union, and China. This comparison highlights how economic, cultural, and market dynamics influence corporate leverage decisions. The impact of technological innovations and their role in reshaping financial strategies are also discussed. Designed for scholars, researchers, and advanced students in finance and economics, this book serves as a definitive reference for understanding the complex dynamics of corporate finance. With its rigorous analysis and practical insights, it equips readers with the knowledge and analytical tools needed to navigate the challenges of capital structure decision-making in today's dynamic business environment.
Corporate Governance Ownership Structure And Firm Performance
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Author : Hoang N. Pham
language : en
Publisher: Routledge
Release Date : 2022-01-24
Corporate Governance Ownership Structure And Firm Performance written by Hoang N. Pham and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-24 with Business & Economics categories.
The relationship between ownership structure and firm performance has been studied extensively in corporate finance and corporate governance literature. Nevertheless, the mediation (path) analysis to examine the issue can be adopted as a new approach to explain why and how ownership structure is related to firm performance and vice versa. This approach calls for full recognition of the roles of agency costs and corporate risk-taking as essential mediating variables in the bi-directional and mediated relationship between ownership structure and firm performance. Based on the agency theory, corporate risk management theory and accounting for the dynamic endogeneity in the ownership–performance relationship, this book develops two-mediator mediation models, including recursive and non-recursive mediation models, to investigate the ownership structure–firm performance relationship. It is demonstrated that agency costs and corporate risk-taking are the ‘missing links’ in the ownership structure–firm performance relationship. Hence, this book brings into attention the mediation and dynamic approach to this issue and enhances the knowledge of the mechanisms for improving firm’s financial performance. This book will be of interest to corporate finance, management and economics researchers and policy makers. Post-graduate research students in corporate governance and corporate finance will also find this book beneficial to the application of econometrics into multi-dimensional and complex issues of the firm, including ownership structure, agency problems, corporate risk management and financial performance.
Information Technology And Applications
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Author : Xiaolong Li
language : en
Publisher: CRC Press
Release Date : 2015-04-07
Information Technology And Applications written by Xiaolong Li and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-07 with Computers categories.
Information Technology (IT) is the application of computers and telecommunications equipment to store, retrieve, transmit and manipulate data, often in the context of a business or other enterprise. IT has become one of the most fundamental technologies in today‘s social life, and there are many unsolved issues related to IT and its applications.Th
Governance Led Corporate Performance
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Author : Apu Manna
language : en
Publisher: Emerald Group Publishing
Release Date : 2019-08-21
Governance Led Corporate Performance written by Apu Manna and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-21 with Business & Economics categories.
Governance-Led Corporate Performance explores the corporate governance system for developing economies, and provides a comprehensive analysis of the relationship between ownership structure, board composition, director multiplicity and CEO duality in relation to corporate performance.
Capital Structure And Corporate Performance
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Author : Rami Zeitun
language : en
Publisher:
Release Date : 2014
Capital Structure And Corporate Performance written by Rami Zeitun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
The central objective of this study is to investigate and examine the effect which capital structure has had on corporate performance using a panel data sample representing of 167 Jordanian companies during 1989-2003. This paper also examines the effect which external shocks have had on Jordanian corporate performance and industrial sectors. Our results showed that a firm's capital structure had a significantly negative impact on the firm's performance measures, in both the accounting and market's measures. This result suggests that agency issues may lead to higher debt in the capital structure than there should be. We also found that the short-term debt to total assets (STDTA) level has a significantly positive effect on the market performance measure (Tobin's Q), which could support Myers' (1977) argument that firms with a high STDTA have a high growth rate and high performance. The Gulf Crisis 1990-1991 was found to have a positive impact on Jordanian corporate performance as the Jordanian market was the only market that was open to Iraq. On the other hand, the outbreak of Intifadah in the West Bank and Gaza in September 2000 had a negative impact on corporate performance, as most of the Jordanian companies exported to the West Bank.
Capital Structure And Firm Performance
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Author : Arvin Ghosh
language : en
Publisher: Routledge
Release Date : 2017-07-05
Capital Structure And Firm Performance written by Arvin Ghosh and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-05 with Business & Economics categories.
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.