Capital structure decisions

This paper explores the impact of product market competition on capital structure, whether zero-leverage policy is explained by product market competition. Zero leverage behaviour is not an uncommon phenomenon that can be linked to a wide range of financial theories while product market competition plays a crucial role in formulating corporate decisions in private firms. Results show that the higher degree of product market competition, the more likely firms adopt zero-leverage policy.

10p alucardhellsing 04-05-2022 14 1   Download

Capital structure is one of the most important decision for any business because of their impact on firm’s performance. This research aims to examine the impact of firm’s capital structure on financial performance of all Vietnam non financial listed firms over the past seven-year period from 2010 to 2016. A sample with 3136 observations of 448 firms was used in the Tobit regression model.

9p vihassoplattner 07-01-2022 3 0   Download

After completing "Lecture Business finance", you will understand the knowledge about an overview of financial environment, financial statements, taxes and cash flows, time value of money and discounted cash flow valuation, valuation of stocks and bonds, net present value and other investment criteria, capital investment decision, risk and return, cost of capital, leverage and capital structure, raising capital, working capital management, dividends,...

184p bachkhinhdaluu 03-12-2021 19 0   Download

This research focuses on examining the impact of the managerial ownership on the choice of capital structure of Vietnamese firms. Managerial ownership isamong the most crucial corporate governance's componentsand are supposed to be relevant in determination of the company's financing decision.

10p vijihyo2711 25-09-2021 11 0   Download

Chapter 20 - Accounting and finance in the international business. The main goals of this chapter are to: Explain capital structure choices and their impact on the MNC, describe the process of multilateral netting and its contribution to cash flow management, describe the importance of leading and lagging in cash flow management,...

19p tradaviahe15 23-02-2021 17 0   Download

This study examines the impact of board structure on financial leverage decisions, as measured by the ratio of total debt to total assets, of nonfinancial firms listed on the Ho Chi Minh City Stock Exchange. Based on a dataset of 1,592 observations collected from 199 firms for the period from 2012 to 2019, the analysis shows a correlation between board characteristics and a firm’s financial leverage.

25p cothumenhmong9 04-01-2021 9 1   Download

Since MNCs commonly invest in long-term projects, they rely heavily on long-term financing. Once the capital structure decision has been made, the MNC must consider the possible sources of equity or debt, and the costs and risks associated with each source. Many MNCs obtain equity funding in their home country, and engage in debt financing in foreign countries.

16p koxih_kothogmih2 20-08-2020 11 2   Download

Chapter 7, risk and return. After studying this chapter you will be able to: Important bond features and types of bonds, cond values and yields and why they fluctuate, bond ratings and what they mean, the impact of inflation on interest rates, the term structure of interest rates and the determinants of bond yields.

26p nanhankhuoctai3 25-05-2020 14 1   Download

The results indicate that leverage was significantly and positively associated with the firm performance. The results obtained are thus robust across the estimation methods. The pecking order theory and the static tradeoff theory, both seem to explain Indian food processing firms’ decisions among the alternative theories of capital structure.

8p tozontozon 25-04-2020 10 0   Download

Chapter 16 - Capital structure decisions: The basics. This chapter presents the following content: Overview and preview of capital structure effects; business versus financial risk; the impact of debt on returns; capital structure theory, evidence, and implications for managers; example: choosing the optimal structure.

19p abcxyz123_04 30-03-2020 23 2   Download

This paper investigates the role of firms’ board size on capital structure decisions in an oil-based economy. Using a sample of 121 listed firms in Saudi capital Market, over the 2009-2016 period, we find a strong negative linkage between board size and debt choice. Our findings suggest that strong corporate governance practice enforce the usage of lower debt financing to promote firms’ performance. This finding provides important implications for investors and policymakers.

17p chauchaungayxua2 19-01-2020 24 0   Download

CEO equity-based compensation is designed to reduce the agency problem between top management and shareholders, which should have direct consequences on firm’s capital structure decisions as evidenced by the behaviors of new security issuances. This research paper focuses on the impact on the propensity of issuing new securities by two common CEO equity-based compensations – option compensation and restricted stock compensation.

23p chauchaungayxua2 19-01-2020 12 1   Download

The purpose of this study is to examine the impact of capital structure choice on firm’s financial performance of delisted companies on the stock market. Based on the data collected from 80 companies delisted from Vietnam stock markets (HNX and HOSE) in the period from 2012 to 2015, using quantitative research methods, we find a correlation between the capital structure and the financial performance of the firms. The study results have some implications for investors and managers in making decisions to optimize their financial performance.

13p vithomasedison2711 14-08-2019 37 0   Download

chapter 8, bond valuation and the structure of interest rates. After studying this chapter you will be able to: How stock prices depend on future dividends and dividend growth, the different ways corporate directors are elected to office, how the stock markets work.

38p shiwo_ding6 25-05-2019 22 1   Download

Chapter 7, risk and return. After studying this chapter you will be able to: Important bond features and types of bonds, cond values and yields and why they fluctuate, bond ratings and what they mean, the impact of inflation on interest rates, the term structure of interest rates and the determinants of bond yields.

50p shiwo_ding6 25-05-2019 19 0   Download

Chapter 16, capital structure policy. After studying this chapter you will be able to: Explain how financial leverage affects earnings per share (EPS) and return on equity (ROE), compute the degree of financial leverage, define and compute the indifference earnings before interest and taxes (EBIT) and explain its importance in selecting between alternative financing opportunities, define and explain the term homemade leverage, explain why determining the optimal capital structure is important,...

44p shiwo_ding6 25-05-2019 21 1   Download

The study results have implications for investors and for managers in making decisions about optimal capital structure. The results are a basis for investors to predict the health of the companies in which they intend to invest, or delisted companies that have still the capability of developing.

10p hieutinhcotu 19-06-2017 50 3   Download

This chapter presents the following content: Overview and preview of capital structure effects; business versus financial risk; the impact of debt on returns; capital structure theory, evidence, and implications for managers; example: choosing the optimal structure.

77p nomoney12 04-05-2017 33 1   Download

(BQ) Part 2 book "Corporate finance and investment" has contents: Treasury management and working capital policy, short-term asset management, short- and medium-term finance, long-term finance, capital structure and the required return, capital structure and the required return, foreign investment decisions,...and other contents.

441p bautroibinhyen27 11-05-2017 22 3   Download

(bq) part 2 book "financial management - concepts and applications" has contents: assessing the cost of capital - what return investors require; understanding financing and payout decisions; designing an optimal capital structure; measuring and creating value,... and other contents.

161p bautroibinhyen27 11-05-2017 33 5   Download