Valuation Challenges and Solutions in Contemporary Businesses

Download Valuation Challenges and Solutions in Contemporary Businesses PDF Online Free

Author :
Publisher : IGI Global
ISBN 13 : 1799810887
Total Pages : 324 pages
Book Rating : 4.7/5 (998 download)

DOWNLOAD NOW!


Book Synopsis Valuation Challenges and Solutions in Contemporary Businesses by : Köseo?lu, Sinem Derindere

Download or read book Valuation Challenges and Solutions in Contemporary Businesses written by Köseo?lu, Sinem Derindere and published by IGI Global. This book was released on 2019-11-29 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Defining the value of an entire company can be challenging, especially for large, highly competitive business markets. While the main goal for many companies is to increase their market value, understanding the advanced techniques and determining the best course of action to maximize profits can puzzle both academic and business professionals alike. Valuation Challenges and Solutions in Contemporary Businesses provides emerging research exploring theoretical and practical aspects of income-based, market-based, and asset-based valuation approaches and applications within the financial sciences. Featuring coverage on a broad range of topics such as growth rate, diverse business, and market value, this book is ideally designed for financial officers, business professionals, company managers, CEOs, corporate professionals, academicians, researchers, and students seeking current research on the challenging aspects of firm valuation and an assortment of possible solution-driven concepts.

Does capital structure influence firms value?

Download Does capital structure influence firms value? PDF Online Free

Author :
Publisher : GRIN Verlag
ISBN 13 : 3638449475
Total Pages : 12 pages
Book Rating : 4.6/5 (384 download)

DOWNLOAD NOW!


Book Synopsis Does capital structure influence firms value? by : Ulrike Messbacher

Download or read book Does capital structure influence firms value? written by Ulrike Messbacher and published by GRIN Verlag. This book was released on 2005-12-20 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2004 in the subject Business economics - Investment and Finance, grade: 1, University of Applied Sciences Kempten (University of Ulster), language: English, abstract: In accordance with the Signalling model by Ross (1977) an increase in gearing represents, in term of a company’s prospective cash flows, a positive signal to external investors. Because, due to the higher risk of financial distress, companies with less optimistic market prospective tend to avoid additional financial obligations. This implies that an increasing indebtedness means a higher quality of business and therefore better valuation. This leads, in turn, to the assumption that the corporate management can influence a firm’s value by changing its capital structure. If capital structure can affect value, how can firms identify an optimal capital structure and what will it look like? It is that mix of debt and equity that maximises the value of a firm and, at the same time, minimise overall cost of capital. In their seminal article, published in 1958 and 1963, Modigliani and Miller argue that under certain assumptions the value of a firm i s independent of its capital structure, but with tax-deductible interest payments, they are positively related. Moreover, there are other approaches with partly contradictory perceptions. For instance, Myers (1998, cited in Fairchild 2003, p.6) argues that there is no universal optimal mix of debt and equity; in fact it depends on firms or industries, and therefore should be considered on a case-by-case basis. Other researchers have added market imperfections, such as bankruptcy costs, agency costs, and gains from leverage- induced tax shields to the analysis and have maintained that an optimal capital structure may exist (Hatfieldet al.1994, p.1). First, this paper shows the basic determinants of a firm’s value in association with the impact of financial leverage on payoffs to stockholders. Secondly, it considers some arguments of capital structure theories, particularly the Modigliani and Miller theorem and the Traditional approach and contrasts them. Finally, the underlying factors of the model assumptions are examined and shown that they are important in the choice of a firm’s debt-equity ratio.

Corporate Capital Structures in the United States

Download Corporate Capital Structures in the United States PDF Online Free

Author :
Publisher : University of Chicago Press
ISBN 13 : 0226264238
Total Pages : 404 pages
Book Rating : 4.2/5 (262 download)

DOWNLOAD NOW!


Book Synopsis Corporate Capital Structures in the United States by : Benjamin M. Friedman

Download or read book Corporate Capital Structures in the United States written by Benjamin M. Friedman and published by University of Chicago Press. This book was released on 2009-05-15 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: The research reported in this volume represents the second stage of a wide-ranging National Bureau of Economic Research effort to investigate "The Changing Role of Debt and Equity in Financing U.S. Capital Formation." The first group of studies sponsored under this project, which have been published individually and summarized in a 1982 volume bearing the same title (Friedman 1982), addressed several key issues relevant to corporate sector behavior along with such other aspects of the evolving financial underpinnings of U.S. capital formation as household saving incentives, international capital flows, and government debt management. In the project's second series of studies, presented at the National Bureau of Economic Research conference in January 1983 and published here for the first time along with commentaries from that conference, the central focus is the financial side of capital formation undertaken by the U.S. corporate business sector. At the same time, because corporations' securities must be held, a parallel focus is on the behavior of the markets that price these claims.

Capital Structure and Firm Value

Download Capital Structure and Firm Value PDF Online Free

Author :
Publisher : Readworthy
ISBN 13 : 9381510830
Total Pages : 192 pages
Book Rating : 4.3/5 (815 download)

DOWNLOAD NOW!


Book Synopsis Capital Structure and Firm Value by : Dr. Maloth Raghu Ram

Download or read book Capital Structure and Firm Value written by Dr. Maloth Raghu Ram and published by Readworthy. This book was released on 2018-12-03 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital Structure decision is one of the crucial decisions to be taken by a company. There are divergent views regarding Capital Structure and Firm Value. There is dearth of studies in the area of Pharma Industry regarding Capital Structure and Firm Value. Therefore, the present study seeks to answer the following questions: what are the factors determining the Capital Structure decision in Pharma sector in India? What is the relationship between select variable and company value? What is the impact of leverage on stock price volatility of Pharma Companies? Period of the study is eleven years from 2005 to 2015. The panel data regression model has been employed. It can be concluded that Debt-Equity Ratio has negative impact on capital structure of a company. It was revealed from the findings that majority of the select variables have significant impact on the capital structure. The study also brings to light the fact that leverage effect is dominant in the stock market. Findings of the present study are useful in gaining valuable insights into the intricacies of capital structure, firm value and leverage effect. The study is useful to finance managers, investors, researchers and also to academicians doing research in the area of corporate finance.

Capital Structure and Corporate Financing Decisions

Download Capital Structure and Corporate Financing Decisions PDF Online Free

Author :
Publisher : John Wiley & Sons
ISBN 13 : 0470569522
Total Pages : 516 pages
Book Rating : 4.4/5 (75 download)

DOWNLOAD NOW!


Book Synopsis Capital Structure and Corporate Financing Decisions by : H. Kent Baker

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 2011-05-03 with total page 516 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.

Firm Value

Download Firm Value PDF Online Free

Author :
Publisher : BoD – Books on Demand
ISBN 13 : 1789234948
Total Pages : 151 pages
Book Rating : 4.7/5 (892 download)

DOWNLOAD NOW!


Book Synopsis Firm Value by : Paolo Saona Hoffmann

Download or read book Firm Value written by Paolo Saona Hoffmann and published by BoD – Books on Demand. This book was released on 2018-08-01 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume aims to discuss the most contemporary state of the determinants of the firm value. This book presents theoretical works as well as empirical studies that contrast the arguments offered by the leading, ground-breaking theories on the firm value. What variables determine the firm value? Are these determinants controllable or uncontrollable by the managers of the companies? Is the impact of corporate governance systems on the firm value symmetrical between different institutional contexts? Do the financial reports affect the value of the firm? What role does corporate social responsibility play as a determinant of the firm value? These and other questions are analyzed and scrutinized step by step throughout this book.

Capital and Its Structure

Download Capital and Its Structure PDF Online Free

Author :
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610165276
Total Pages : 148 pages
Book Rating : 4.6/5 (11 download)

DOWNLOAD NOW!


Book Synopsis Capital and Its Structure by : Ludwig M. Lachmann

Download or read book Capital and Its Structure written by Ludwig M. Lachmann and published by Ludwig von Mises Institute. This book was released on 1956 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Capital Structure and Corporate Governance

Download Capital Structure and Corporate Governance PDF Online Free

Author :
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041148515
Total Pages : 248 pages
Book Rating : 4.0/5 (411 download)

DOWNLOAD NOW!


Book Synopsis Capital Structure and Corporate Governance by : Lorenzo Sasso

Download or read book Capital Structure and Corporate Governance written by Lorenzo Sasso and published by Kluwer Law International B.V.. This book was released on 2013-08-01 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite a clear distinction in law between equity and debt, the results of such a categorization can be misleading. The growth of financial innovation in recent decades necessitates the allocation of control and cash-flow rights in a way that diverges from the classic understanding. Some of the financial instruments issued by companies, so-called hybrid instruments, fall into a grey area between debt and equity, forcing regulators to look beyond the legal form of an instrument to its practical substance. This innovative study, by emphasizing the agency relations and the property law claims embedded in the use of such unconventional instruments, analyses and discusses the governance regulation of hybrids in a way that is primarily functional, departing from more common approaches that focus on tax advantages and internal corporate control. The author assesses the role of hybrid instruments in the modern company, unveiling the costs and benefits of issuing these securities, recognizing and categorizing the different problem fields in which hybrids play an important role, and identifying legal and contracting solutions to governance and finance problems. The full-scale analysis compares the U.K. law dealing with hybrid instruments with the corresponding law of the most relevant U.S. jurisdictions in relation to company law. The following issues, among many others, are raised: decisions under uncertainty when the risks of opportunism of the parties is very high; contract incompleteness and ex post conflicts; protection of convertible bondholders in mergers and acquisitions and in assets disposal; use of convertible bonds to reorganise and restructure a firm; timing of the conversion and the issuer’s call option; majority-minority conflict in venture capital financing; duty of loyalty; fiduciary duties to preference shareholders; and financial contract design for controlling the board’s power in exit events. Throughout, the analysis includes discussion, comparison, and evaluation of statutory provisions, existing legal standards, and strategies for protection. It is unlikely that a more thorough or informative account exists of the complex regulatory problems created by hybrid financial instruments and of the different ways in which regulatory regimes have responded to the problems they raise. Because business parties in these jurisdictions have a lot of scope and a strong incentive to contract for their rights, this book will also be of uncommon practical value to corporate counsel and financial regulators as well as to interested academics.

The Capital Structure Decision

Download The Capital Structure Decision PDF Online Free

Author :
Publisher : Springer Science & Business Media
ISBN 13 : 1461510376
Total Pages : 230 pages
Book Rating : 4.4/5 (615 download)

DOWNLOAD NOW!


Book Synopsis The Capital Structure Decision by : Harold Bierman Jr.

Download or read book The Capital Structure Decision written by Harold Bierman Jr. and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1958 an academic paper on corporate finance written by two professors (Merton Miller and Frances Modigliani, who were later awarded the Nobel prize for their research efforts) was published in The American Economic Review. One prime conclusion of their paper was that the exact form of a firm's capital structure did not affect the firm's value. Later papers by the same two authors and by many others modified the assumptions and changed this conclusion. We now think that capital structure decisions do affect a firm's value and corporate managers should understand better the financing alternatives that are available. One of the most important financial decisions is the decision to buy or lease assets. The leasing industry is large and getting larger. Unfortunately, it is very easy for a firm to evaluate incorrectly lease alternatives (see Chapter 12). The capital structure decision is one of the three most important financial decisions that management make (the distribution of earnings and the capital budgeting decisions are the other two contenders). Managers should increase their understanding of capital structure alternatives and remember that choosing the best capital structure is an art and not an exact simple calculation. But applying the art can be improved with understanding.

The COVID-19 Impact on Corporate Leverage and Financial Fragility

Download The COVID-19 Impact on Corporate Leverage and Financial Fragility PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 1589064127
Total Pages : 51 pages
Book Rating : 4.5/5 (89 download)

DOWNLOAD NOW!


Book Synopsis The COVID-19 Impact on Corporate Leverage and Financial Fragility by : Sharjil M. Haque

Download or read book The COVID-19 Impact on Corporate Leverage and Financial Fragility written by Sharjil M. Haque and published by International Monetary Fund. This book was released on 2021-11-05 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the impact of the COVID-19 recession on capital structure of publicly listed U.S. firms. Our estimates suggest leverage (Net Debt/Asset) decreased by 5.3 percentage points from the pre-shock mean of 19.6 percent, while debt maturity increased moderately. This de-leveraging effect is stronger for firms exposed to significant rollover risk, while firms whose businesses were most vulnerable to social distancing did not reduce leverage. We rationalize our evidence through a structural model of firm value that shows lower expected growth rate and higher volatility of cash flows following COVID-19 reduced optimal levels of corporate leverage. Model-implied optimal leverage indicates firms which did not de-lever became over-leveraged. We find default probability deteriorates most in large, over-leveraged firms and those that were stressed pre-COVID. Additional stress tests predict value of these firms will be less than one standard deviation away from default if cash flows decline by 20 percent.

Capital Structure and Firm Value

Download Capital Structure and Firm Value PDF Online Free

Author :
Publisher :
ISBN 13 : 9789381510810
Total Pages : 339 pages
Book Rating : 4.5/5 (18 download)

DOWNLOAD NOW!


Book Synopsis Capital Structure and Firm Value by : Maloth Raghu Ram

Download or read book Capital Structure and Firm Value written by Maloth Raghu Ram and published by . This book was released on 2018 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Firm Value and Optimal Levels of Liquidity

Download Firm Value and Optimal Levels of Liquidity PDF Online Free

Author :
Publisher : Psychology Press
ISBN 13 : 9780815338024
Total Pages : 176 pages
Book Rating : 4.3/5 (38 download)

DOWNLOAD NOW!


Book Synopsis Firm Value and Optimal Levels of Liquidity by : J. Edward Graham

Download or read book Firm Value and Optimal Levels of Liquidity written by J. Edward Graham and published by Psychology Press. This book was released on 2001 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 2001. Routledge is an imprint of Taylor & Francis, an informa company.

Business Environment and Firm Entry

Download Business Environment and Firm Entry PDF Online Free

Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4./5 ( download)

DOWNLOAD NOW!


Book Synopsis Business Environment and Firm Entry by : Leora Klapper

Download or read book Business Environment and Firm Entry written by Leora Klapper and published by World Bank Publications. This book was released on 2004 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have high entry. Also, value added per employee in naturally "high entry" industries grows more slowly in countries with onerous regulations on entry. Interestingly, regulatory entry barriers have no adverse effect on entry in corrupt countries, only in less corrupt ones. Taken together, the evidence suggests bureaucratic entry regulations are neither benign nor welfare improving. However, not all regulations inhibit entry. In particular, regulations that enhance the enforcement of intellectual property rights or those that lead to a better developed financial sector do lead to greater entry in industries that do more R & D or industries that need more external finance"--National Bureau of Economic Research web site.

Optimal Financing Decisions

Download Optimal Financing Decisions PDF Online Free

Author :
Publisher :
ISBN 13 :
Total Pages : 182 pages
Book Rating : 4.F/5 ( download)

DOWNLOAD NOW!


Book Synopsis Optimal Financing Decisions by : Alexander Allan Robichek

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:

Innovation, Internationalization and Entrepreneurship

Download Innovation, Internationalization and Entrepreneurship PDF Online Free

Author :
Publisher : MDPI
ISBN 13 : 3036512292
Total Pages : 166 pages
Book Rating : 4.0/5 (365 download)

DOWNLOAD NOW!


Book Synopsis Innovation, Internationalization and Entrepreneurship by : Renata Korsakienė

Download or read book Innovation, Internationalization and Entrepreneurship written by Renata Korsakienė and published by MDPI. This book was released on 2021-08-17 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past years, businesses have had to tackle the issues caused by numerous forces from political, technological and societal environment. The changes in the global market and increasing uncertainty require us to focus on disruptive innovations and to investigate this phenomenon from different perspectives. The benefits of innovations are related to lower costs, improved efficiency, reduced risk, and better response to the customers’ needs due to new products, services or processes. On the other hand, new business models expose various risks, such as cyber risks, operational risks, regulatory risks, and others. Therefore, we believe that the entrepreneurial behavior and global mindset of decision-makers significantly contribute to the development of innovations, which benefit by closing the prevailing gap between developed and developing countries. Thus, this Special Issue contributes to closing the research gap in the literature by providing a platform for a scientific debate on innovation, internationalization and entrepreneurship, which would facilitate improving the resilience of businesses to future disruptions.

Financial Reporting & Analysis

Download Financial Reporting & Analysis PDF Online Free

Author :
Publisher : South Western Educational Publishing
ISBN 13 : 9780324186437
Total Pages : 0 pages
Book Rating : 4.1/5 (864 download)

DOWNLOAD NOW!


Book Synopsis Financial Reporting & Analysis by : Charles H. Gibson

Download or read book Financial Reporting & Analysis written by Charles H. Gibson and published by South Western Educational Publishing. This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The extensively revised 8th edition thoroughly involves readers with Financial Statements by using real-world examples. The emphasis is on the analysis and interpretation of the end result of financial reporting and financial statements.

The Debt/equity Choice

Download The Debt/equity Choice PDF Online Free

Author :
Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.4/5 (91 download)

DOWNLOAD NOW!


Book Synopsis The Debt/equity Choice by : Ronald W. Masulis

Download or read book The Debt/equity Choice written by Ronald W. Masulis and published by . This book was released on 1988 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: