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Author : Nancy R. Little
Publisher : Real Property Probate and Trust Law American Bar Association
ISBN 13 :
Total Pages : 236 pages
Book Rating : 4.F/5 ( download)
Download or read book Synthetic Lease Financing written by Nancy R. Little and published by Real Property Probate and Trust Law American Bar Association. This book was released on 2002 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jennifer Lynne M. Altamuro
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Determinants of Synthetic Lease Financing and the Impact on the Cost of Future Debt written by Jennifer Lynne M. Altamuro and published by . This book was released on 2007 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The synthetic lease is a hybrid financing structure that allows a company to obtain many of the benefits of asset ownership, including capital lease treatment for tax purposes, while treating lease payments as operating expenses on the firm's income statement. Proponents of these off balance sheet transactions argue that the economic benefits to the firm and its shareholders outweigh the costs of complexity and opacity, while critics argue that the benefits of these transactions are the result of short-sighted opportunistic behavior by managers that lead to wealth extraction at the expense of other groups of stakeholders. I jointly examine (1) whether the structure of the synthetic lease provides favorable financing terms for firms that choose this type of transaction, and (2) the economic and financial accounting incentives that influence the manager's financing choice. I find evidence that supports both economic benefits associated with the lease, as well as managers using synthetic lease financing for opportunistic gains. Tests examining the role of the board of directors in the financing decision help to reconcile these two findings, as strong boards serve as a substitute for the opacity of the transaction, and prevent managers from opportunistic behavior. I also find that synthetic lease users have lower costs associated with future bank debt, and these savings do not appear to be the result of withholding information about the synthetic lease from lenders.
Author : Carolyn M. Callahan
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book The Valuation and Disclosure Implications of FIN 46 for Synthetic Leases written by Carolyn M. Callahan and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine whether adoption of FASB Interpretation No. 46/R (FIN 46), Consolidation of Variable Interest Entitiesndash;an Interpretation of ARB No. 51, changed the market valuation and related measurement reliability of synthetic lease liabilities. Adopted in 2003, FIN 46 requires financial statement recognition of many previously off-balance sheet structures, including synthetic leases. Synthetic leases are hybrid financing structures that, prior to FIN 46, allowed firms to maximize the benefits of asset ownership for tax purposes while retaining operating lease treatment within the firm's financial statements. We identify a sample of 125 synthetic leasing firms impacted by FIN 46. Utilizing methodology consistent with Dhaliwal et al. (2011), we constructively capitalize these lease liabilities in the period preceding FIN 46 and compare market valuation of these liabilities with capitalized leases after adoption of the standard. We find that the market places greater weight on synthetic lease obligations recognized within the body of the financial statements than it does liabilities disclosed within the associated notes. Finally, we rely on econometric procedures developed in Barth (1991) and extended in Choi et al. (1997) to examine whether the differential market valuation of lease liabilities post FIN 46 is due in part to perceived differences in measurement reliability. The results indicate there is a post FIN 46 reliability effect for all lease liabilities examined. However, while the synthetic lease amounts are the most unreliable examined, they also experience the greatest increase in reliability post FIN 46, indicating that perceived measurement reliability explains in part differential market valuation associated with FIN 46. Our findings have the potential to inform the ongoing standard setting debate surrounding the possible capitalization of all leases. Further, our study also has economic implications for managers concerned with the potential constraints on asset financing options imposed by accounting regulation.
Download or read book The Economic, Financial Accounting and Governance Determinants of Synthetic Lease Financing written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jennifer French Cookke
Publisher :
ISBN 13 :
Total Pages : 126 pages
Book Rating : 4.:/5 (5 download)
Download or read book Synthetic Leasing written by Jennifer French Cookke and published by . This book was released on 2001 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter K. Nevitt
Publisher : John Wiley & Sons
ISBN 13 : 9781883249663
Total Pages : 478 pages
Book Rating : 4.2/5 (496 download)
Download or read book Equipment Leasing written by Peter K. Nevitt and published by John Wiley & Sons. This book was released on 2000-01-15 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: Equipment Leasing is a practical reference for financial managers who need background information, and an understanding of how leasing can be utilized as a cost-effective means of equipment financing-especially under the new tax law in the United States. It explores various types of leases, including single investor leases, leveraged leases, tax requirements for true leases' and lease-buy economic analysis. This invaluable resource includes the background and basics of equipment leasing, history of leasing, synthetic leases, financial reporting of lease transactions by lessees, operating a leasing company, and much more.
Author : Chris Boobyer
Publisher : Euromoney Books
ISBN 13 : 9781855649859
Total Pages : 508 pages
Book Rating : 4.6/5 (498 download)
Download or read book Leasing and Asset Finance written by Chris Boobyer and published by Euromoney Books. This book was released on 2003 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition includes explanations of the state of the lease and asset finance industry; portfolio management and the impact of Basle capital adequacy provisions for the asset finance industry; transaction structures and synthetic leases, amongst other subjects.
Author :
Publisher :
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.0/5 ( download)
Download or read book The Journal of Equipment Lease Financing written by and published by . This book was released on 2001 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Practising Law Institute
Publisher :
ISBN 13 :
Total Pages : 612 pages
Book Rating : 4.F/5 ( download)
Download or read book Equipment Leasing--leveraged Leasing written by Practising Law Institute and published by . This book was released on 1988 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : E. Chandraiah
Publisher : Concept Publishing Company
ISBN 13 : 9788180690358
Total Pages : 360 pages
Book Rating : 4.6/5 (93 download)
Download or read book Evaluation Of Lease Financing written by E. Chandraiah and published by Concept Publishing Company. This book was released on 2004 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysis Performance Of Leasing Companies In India In The Context Of Regulatory Requirements. Impact Of Lease Financing And How Factors Have Adversely Affected The Lease Market. Evaluates Select Lease Companies, Cost Of Leasing, Use Of Leasing To Finance Capital Assets Etc. Useful For Researchers, Financial Analysis, Policy Makers.
Author : K. Karuppiah
Publisher :
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.3/5 (91 download)
Download or read book Lease Finance written by K. Karuppiah and published by . This book was released on 1988 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Harry I. Wolk
Publisher : SAGE
ISBN 13 : 1412953456
Total Pages : 697 pages
Book Rating : 4.4/5 (129 download)
Download or read book Accounting Theory written by Harry I. Wolk and published by SAGE. This book was released on 2008 with total page 697 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents complex materials in a clear and understandable manner. Incorporating the latest accounting standards and presenting the most up-to-date accounting theory from the top academic journals in accounting and finance throughout the world.
Download or read book Domestic and Cross-border Synthetic Lease Finance Conference written by and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Aswath Damodaran
Publisher : John Wiley & Sons
ISBN 13 : 1118808932
Total Pages : 663 pages
Book Rating : 4.1/5 (188 download)
Download or read book Applied Corporate Finance written by Aswath Damodaran and published by John Wiley & Sons. This book was released on 2014-10-27 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aswath Damodaran, distinguished author, Professor of Finance, and David Margolis, Teaching Fellow at the NYU Stern School of Business, has delivered the newest edition of Applied Corporate Finance. This readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or models. Like no other text of its kind, Applied Corporate Finance, 4th Edition applies corporate finance to real companies. It now contains six real-world core companies to study and follow. Business decisions are classified for students into three groups: investment, financing, and dividend decisions.
Author : Structured Finance Institute. Meeting
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (822 download)
Download or read book Latest Developments in Utilizing Synthetic and Leveraged Leasing for Off-balance Sheet Financing written by Structured Finance Institute. Meeting and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Frank J. Fabozzi
Publisher : John Wiley & Sons
ISBN 13 : 0470107804
Total Pages : 400 pages
Book Rating : 4.4/5 (71 download)
Download or read book Introduction to Structured Finance written by Frank J. Fabozzi and published by John Wiley & Sons. This book was released on 2007-01-09 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Created by the experienced author team of Frank Fabozzi, Henry Davis, and Moorad Choudhry, Introduction to Structured Finance examines the essential elements of this discipline. It is a convenient reference guide—which covers all the important transaction types in one place—and an excellent opportunity to enhance your understanding of finance.
Author : Michelle Leder
Publisher : John Wiley & Sons
ISBN 13 : 0471649376
Total Pages : 210 pages
Book Rating : 4.4/5 (716 download)
Download or read book Financial Fine Print written by Michelle Leder and published by John Wiley & Sons. This book was released on 2003-09-24 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thirty-five million individual investors jumped into the stock market for the first time during the late 1990s without asking questions about the stocks they were buying. When the bubble burst and the large number of accounting scandals began to grow, most investors didn’t know where to turn or whom to trust. Now it has become more important than ever for investors to take matters into their own hands. Financial Fine Print: Uncovering a Company’s True Value lets individual investors in on the secrets that seasoned professional investors use when they evaluate a potential investment. Buried deep in a company’s quarterly (10-Q) and annual (10-K) reports are the real clues to a company’s financial health: the footnotes. At many large companies, these footnotes can run for more than 30 pages and for some corporations have doubled in the past five years, making them simply too important for investors to ignore. Financial Fine Print spells out exactly what investors need to look for within the footnotes of a company’s reports in order to make better, more informed decisions. By using numerous examples of actual footnotes that have appeared in SEC documents, the book teaches investors in easy-to-understand language ways to spot – and avoid – future Enrons and Worldcoms (and Tycos and Adelphias and HealthSouths). For any investor who has spent the past three years watching their investments shrink and has begun to think about getting back into the market, this book provides the critical tools that investors need to know to avoid getting burned once again.
