‘The Cost of Capital, Corporation Finance and the Theory of Investment’ 3 Modigliani & Miller 2 6 Modigliani and Miller 3 7 Modigliani & Miller – 1958 4 12 Fama & French (1998) ‘Taxes, Financing Decisions, and Firm Value’ 18 FAMA FRENCH 2 20 Fama & French 3 21 Fama & French – 1998 4 22 Graham (2000) ‘How Big Are the Tax Benefits of Debt?’ 25 GRAHAM (2000) 2 28 Graham 3 29 How big are the tax benefits of debt? John Graham – 2002 4 29 Lecture 2 32 Myers (1984) ‘The Capital Structure Puzzle’
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41 Asia-Pacific Business Review Vol. VI, No. 2, April - June 2010 pp. 41-49, ISSN: 0973-2470 Capital Structure and Product Market Determinants: Empirical Evidence from the Indian Automobile Industry Himanshu Joshi This paper provides insights into the way in which the capital structure is determined by product market determinants, research and development activity and profitability. This paper is an attempt to test relevance of empirical evidences found in matured markets to the Indian market
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324–343 Operation of management control practices as a package—A case study on control system variety in a growth firm context Mikko Sandelin ∗ Helsinki School of Economics, Department of Accounting and Finance, P.O. Box 1210, FIN-00101 Helsinki, Finland Abstract This empirical case study examines the operation of management control practices as a package in a growth firm context by paying particular attention to the couplings among cultural, personnel, action and results controls. The analysis
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9 percent. Innovation and the capacity to innovate are among the most important factors that affect an organizations competitiveness and performance SMEs due their small size, limited managerial capabilities, as well as limited resources do face a challenging task in innovating. SMEs as compared to larger firms are weakly structured in innovation, low market power and scarcity of resources in order to appropriate the benefit of their innovation. In nature, SMEs do not require a statutory audit
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Principles of Managerial Finance Solution Lawrence J. Gitman PART 1 Introduction to Managerial Finance CHAPTERS IN THIS PART 1 2 3 The Role and Environment of Managerial Finance Financial Statements and Analysis Cash Flow and Financial Planning INTEGRATIVE CASE 1: TRACK SOFTWARE, INC. CHAPTER 1 The Role and Environment of Managerial Finance INSTRUCTOR’S RESOURCES Overview This chapter introduces the student to the field of finance and explores career opportunities in
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[Special Issue - October 2011] Perceived Relationship between Corporate Capital Structure and Firm Value in Nigeria Semiu Babatunde ADEYEMI Department of Accounting University of Lagos Lagos, Nigeria Collins Sankay OBOH Department of Accounting University of Lagos Lagos, Nigeria Abstract This study examined the empirical effects of corporate capital structure (financial leverage) on the market value of a selection of firms listed on the Nigerian Stock Exchange. Both primary and secondary data were
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2005 LEASING, CAPITAL STRUCTURE AND DEBT DISPLACEMENT MARIA – ANDRADA GEORGESCU1 ABSTRACT. Brealy and Young (1980, p. 1249) remind us: “…the use of any lease valuation model involves a general theory of capital structure”. If a user purchase an asset with a given combination of cash and borrowing, there is a clear impact on corporate capital. The impact is not so clear if the user leases the asset. A brief review of the evolution of theories on corporate capital structure – presented by Myers
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example, expatriates who are unable to adjust are more likely to perform poorly. Poor performance on the assignment has costly implications for expatriates (such as low self-esteem, self-confidence, and loss of prestige among co-workers), for the parent firm (such as lost business opportunities), and for the
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among Wall Street’s differently. Its profits had been declining, but in 1995 the company was offered an opportunity to sell its premium ice cream in the lucrative Japanese market. However, Ben & Jerry’s turned down the business because the Japanese firm that would
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Central Oklahoma ABSTRACT This paper attempts reconciliation between the two somewhat extreme views espoused by the shareholder wealth maximization paradigm and the stakeholder theory. The stakeholder theory challenges the basic premise built into corporate finance theory, teaching and practice. Corporate finance theory, teaching and the typically recommended practice are all built on the premise that the primary goal of a corporation should be shareholder wealth value maximization. Extant theoretical
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