The Ownership Of The Firm Corporate Finance And Derivatives

Download The Ownership Of The Firm Corporate Finance And Derivatives full books in PDF, epub, and Kindle. Read online The Ownership Of The Firm Corporate Finance And Derivatives ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

The Ownership of the Firm, Corporate Finance, and Derivatives

Author : Kuo-Ping Chang
Publisher : Springer
ISBN 13 : 9812873538
Total Pages : 82 pages
Book Rating : 4.8/5 (128 download)

DOWNLOAD NOW!

Book Synopsis The Ownership of the Firm, Corporate Finance, and Derivatives by : Kuo-Ping Chang

Download or read book The Ownership of the Firm, Corporate Finance, and Derivatives written by Kuo-Ping Chang and published by Springer. This book was released on 2015-01-02 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book clarifies several ambiguous arguments and claims in finance and the theory of the firm. It also serves as a bridge between derivatives, corporate finance and the theory of the firm. In addition to mathematical derivations and theories, the book also uses anecdotes and numerical examples to explain some unconventional concepts. The main arguments of the book are: (1) the ownership of the firm is not a valid concept, and firms’ objectives are determined by entrepreneurs who can innovate to earn excess profits; (2) the Modigliani-Miller capital structure irrelevancy proposition is a restatement of the Coase theorem, and changes in the firm’s debt-equity ratio will not affect equity-holders’ wealth (welfare), and equity-holders’ preferences toward risk (or variance) are irrelevant; (3) all firms' resources are options, and every asset is both a European call and a put option for any other asset; and (4) that a first or residual claim between debt and equity is non-existent while the first claim among fixed-income assets can actually affect the market values of these assets.

Ownership Structure as a Determinant of Capital Structure - An Empirical Study of DAX Companies

Author : Christian Funke
Publisher : GRIN Verlag
ISBN 13 : 3638702251
Total Pages : 109 pages
Book Rating : 4.6/5 (387 download)

DOWNLOAD NOW!

Book Synopsis Ownership Structure as a Determinant of Capital Structure - An Empirical Study of DAX Companies by : Christian Funke

Download or read book Ownership Structure as a Determinant of Capital Structure - An Empirical Study of DAX Companies written by Christian Funke and published by GRIN Verlag. This book was released on 2007-07 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2003 in the subject Business economics - Investment and Finance, grade: 1,1 (A), European Business School - International University Schlo Reichartshausen Oestrich-Winkel (Endowed-Chairf for Corporate Finance and Capital Markets), language: English, abstract: The idea that the general characteristics of a firm's ownership structure can affect performance has achieved considerable attention and related research brought forward relatively consistent empirical evidence e.g. on the positive impact of managerial ownership on firm performance. However, the evidence on the relation between ownership and capital structure is less consistent and numerous, although there are good reasons to believe that there may be such a relationship. Since the capital structure irrelevance propositions of MODIGLIANI/MILLER economists have devoted considerable time to studying cross-sectional and time-series variations in capital structure. More recent work following the seminal contribution by JENSEN/MECKLING has employed an agency theory perspective in the search for an explanation of capital structure variations. With this managerial perspective capital structure is not only explained by variations in internal and external contextual factors of the firm, but also by the values, goals, preferences and desires of managers. Corporate financing decisions are influenced by managers' incentives and the incentives for managers to act opportunistically can be influenced by the ownership structure of the firm. However, most empirical work analyzing a firm's capital structure in cross-sectional and time-series studies ignores the equity ownership structure as a possible explanatory variable. This can be partly explained by problems associated with the availability of ownership data, when compared to readily available accounting and market data on other relevant variables. Notwithstanding, it entails a problem of model misspecification as omitting a relevant variable

Corporate Finance: A Systematic Approach

Author : Kuo-Ping Chang
Publisher : Springer Nature
ISBN 13 : 9811991197
Total Pages : 210 pages
Book Rating : 4.8/5 (119 download)

DOWNLOAD NOW!

Book Synopsis Corporate Finance: A Systematic Approach by : Kuo-Ping Chang

Download or read book Corporate Finance: A Systematic Approach written by Kuo-Ping Chang and published by Springer Nature. This book was released on 2023-03-20 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook takes on a systematic approach to elaborating on the different subjects within corporate finance. The chapters bring together existing concepts with examples and stories that allow students to easily understand and apply financial tools. In doing so, the book strives to clarify misconceptions in the literature on topics related to firm’s ownership and control, problems of the Modigliani-Miller first and second propositions, relationship between options and corporate finance, behavioral finance versus corporate finance, etc. The book takes into consideration the growing importance of the Asian economy and financial markets in recent years, and constructs the P-index to measure and compare the risk structures of US and China’s stocks and stock indexes. This book is a primary text written for the introductory courses in corporate finance at the M.B.A. level and for the intermediate courses in undergraduate programs, but can also be of great use to Ph.D. students as well as professionals.

International Corporate Finance, + Website

Author : Laurent L. Jacque
Publisher : John Wiley & Sons
ISBN 13 : 1118781864
Total Pages : 885 pages
Book Rating : 4.1/5 (187 download)

DOWNLOAD NOW!

Book Synopsis International Corporate Finance, + Website by : Laurent L. Jacque

Download or read book International Corporate Finance, + Website written by Laurent L. Jacque and published by John Wiley & Sons. This book was released on 2014-03-24 with total page 885 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thorough introduction to corporate finance from a renowned professor of finance and banking As globalization redefines the field of corporate finance, international and domestic finance have become almost inseparably intertwined. It's increasingly difficult to understand what is happening in capital markets without a firm grasp of currency markets, the investment strategies of sovereign wealth funds, carry trade, and foreign exchange derivatives products. International Corporate Finance offers thorough coverage of the international monetary climate, including Islamic finance, Asian banking, and cross-border mergers and acquisitions. Additionally, the book offers keen insight on global capital markets, equity markets, and bond markets, as well as foreign exchange risk management and how to forecast exchange rates. Offers a comprehensive discussion of the current state of international corporate finance Provides simple rules and pragmatic answers to key managerial questions and issues Includes case studies and real-world decision-making situations For anyone who wants to understand how finance works in today's hyper-connected global economy, International Corporate Finance is an insightful, practical guide to this complex subject.

Applied Corporate Finance

Author : Aswath Damodaran
Publisher : John Wiley & Sons
ISBN 13 : 1118808932
Total Pages : 663 pages
Book Rating : 4.1/5 (188 download)

DOWNLOAD NOW!

Book Synopsis Applied Corporate Finance by : Aswath Damodaran

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.

Capitalism With Derivatives

Author : D. Bryan
Publisher : Springer
ISBN 13 : 0230501540
Total Pages : 243 pages
Book Rating : 4.2/5 (35 download)

DOWNLOAD NOW!

Book Synopsis Capitalism With Derivatives by : D. Bryan

Download or read book Capitalism With Derivatives written by D. Bryan and published by Springer. This book was released on 2005-12-16 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the links between things as diverse as the prices of pork bellies, interest rates, and corporate stock? They are all being translated into risk and priced through the system of derivative markets. Financial derivatives are now the largest form of financial transaction in the world, and they are transforming in pervasive ways the lived experience of capitalist economies. Financial derivatives are anchoring the global financial system and challenging the conventional understanding of ownership, money and capital. These challenges are examined in this book, providing a significant reinterpretation of contemporary capitalism that will be of interest to both social scientists and conventional finance scholars.

Corporate Finance

Author : Stefan Cristian Gherghina
Publisher : MDPI
ISBN 13 : 3036505709
Total Pages : 408 pages
Book Rating : 4.0/5 (365 download)

DOWNLOAD NOW!

Book Synopsis Corporate Finance by : Stefan Cristian Gherghina

Download or read book Corporate Finance written by Stefan Cristian Gherghina and published by MDPI. This book was released on 2021-05-18 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book comprises 19 papers published in the Special Issue entitled “Corporate Finance”, focused on capital structure (Kedzior et al., 2020; Ntoung et al., 2020; Vintilă et al., 2019), dividend policy (Dragotă and Delcea, 2019; Pinto and Rastogi, 2019) and open-market share repurchase announcements (Ding et al., 2020), risk management (Chen et al., 2020; Nguyen Thanh, 2019; Štefko et al., 2020), financial reporting (Fossung et al., 2020), corporate brand and innovation (Barros et al., 2020; Błach et al., 2020), and corporate governance (Aluchna and Kuszewski, 2020; Dragotă et al.,2020; Gruszczyński, 2020; Kjærland et al., 2020; Koji et al., 2020; Lukason and Camacho-Miñano, 2020; Rashid Khan et al., 2020). It covers a broad range of companies worldwide (Cameroon, China, Estonia, India, Japan, Norway, Poland, Romania, Slovakia, Spain, United States, Vietnam), as well as various industries (heat supply, high-tech, manufacturing).

Strong Managers, Weak Owners

Author : Mark J Roe
Publisher :
ISBN 13 : 9781400817740
Total Pages : pages
Book Rating : 4.8/5 (177 download)

DOWNLOAD NOW!

Book Synopsis Strong Managers, Weak Owners by : Mark J Roe

Download or read book Strong Managers, Weak Owners written by Mark J Roe and published by . This book was released on 1994-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this major reinterpretation of the evolution of the American corporation, Mark Roe convincingly demonstrates that the ownership structure of large U.S. firms owes its distinctive character as much to politics as to economics and technology. His provocative examination addresses essential issues facing American businesses today as they compete in the new international marketplace.In this major reinterpretation of the evolution of the American corporation, Mark Roe convincingly demonstrates that the ownership structure of large U.S. firms owes its distinctive character as much to politics as to economics and technology. His provocative examination addresses essential issues facing American businesses today as they compete in the new international marketplace.

Journal of Corporate Finance

Author :
Publisher :
ISBN 13 :
Total Pages : 438 pages
Book Rating : 4.1/5 (199 download)

DOWNLOAD NOW!

Book Synopsis Journal of Corporate Finance by :

Download or read book Journal of Corporate Finance written by and published by . This book was released on 1999 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Three Essays on Ownership Issues in Corporate Finance Dissertation

Author : Yuan Wang
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (134 download)

DOWNLOAD NOW!

Book Synopsis Three Essays on Ownership Issues in Corporate Finance Dissertation by : Yuan Wang

Download or read book Three Essays on Ownership Issues in Corporate Finance Dissertation written by Yuan Wang and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study consists of three research topics about corporate ownership and financial issues. Existing literature focuses on overall corporate ownership structure. This study extends the existing literature by studying the impacts of different ownership types. Different types of shareholders are different in several key aspects such as investment policies, targets, and risk preference, all of which influence how they execute their screening role over the companies, and are important determinants of firms' decisions. To the extant literature, scholars have employed various perspectives to examine corporate ownership. In this study, I will be focusing on the behavior agency theory, agency theory, and socioemotional wealth theory, in the hope of bringing a more nuanced insight of the impacts of different corporate ownership on financial issues, such as, cost of bank loan, the formation of international joint venture, and CEO turnover. In the first essay, I employ a sample of U.S. public companies between 2007 and 2016 to explore the joint effects of executive inside debt (EID) and family involvement on the cost of bank loans. The empirical results indicate that the mitigating effect of EID on the cost of bank loans is attenuated for family firms. In addition, I provide evidence for the following: 1) the mitigating effect of EID on cost of debt is strengthened when a firm's performance is lower than its aspiration level and 2) the moderating effect of family involvement is significant when firm performance is above its aspiration level. Collectively, our findings support the behavioral agency prediction that family involvement shapes firms' risk-taking preference, which acts as a substitute for EID in decreasing the cost of debt. In the second essay, I examine whether family involvement in business affects firms' engagement in international joint ventures (IJVs). Building on the narrow framing perspective, I argue that family businesses are more prone to utilize risk diversifying strategies over multiple IJV choices than non-family firms, because the family firms' decisions tend to be broadly-framed. Examining the interaction between three IJV decisions (type of IJV, choice of host country, and number of partners) in a sample of 1,439 IJVs formed by publicly traded companies in the US, we found support for our predictions. In the third essay, I explore how institutional holding together with other finance factors affect the likelihood of CEO turnover and whether analyst forecast accuracy serves as a mechanism through which institutional holding influences the likelihood of CEO turnover. I find that increased institutional shareholding results in a lower likelihood of CEO turnover directly as well as indirectly (through the mechanism of analyst forecast accuracy). We also investigate the impact of CEO turnover on subsequent firm performance using market-based measures, including firm value and the cost of equity. Moreover, we examine whether different types of CEO turnover would make a difference on firm value and cost of equity. Our results reveal that after CEO turnover-especially when the previous CEO is forced to leave, and the successor is from outside the company-the firm value is higher, and the cost of equity is lower.

Handbook of Corporate Finance

Author : David J. Denis
Publisher : Edward Elgar Publishing
ISBN 13 : 1800373899
Total Pages : 709 pages
Book Rating : 4.8/5 (3 download)

DOWNLOAD NOW!

Book Synopsis Handbook of Corporate Finance by : David J. Denis

Download or read book Handbook of Corporate Finance written by David J. Denis and published by Edward Elgar Publishing. This book was released on 2024-02-12 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: Expertly surveying the realm of corporate finance, this adroitly-crafted Handbook offers a wealth of conceptual analysis and comprehensively outlines recent scholarly research and developments within the field. It not only delves into the theoretical dimensions of corporate finance, but also explores its practical implications, thereby bridging the gap between these distinct strands.

eBook: Corporate Finance 5e

Author : David Hillier
Publisher : McGraw Hill
ISBN 13 : 1526849925
Total Pages : 955 pages
Book Rating : 4.5/5 (268 download)

DOWNLOAD NOW!

Book Synopsis eBook: Corporate Finance 5e by : David Hillier

Download or read book eBook: Corporate Finance 5e written by David Hillier and published by McGraw Hill. This book was released on 2024-02-12 with total page 955 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fifth European edition of Corporate Finance takes an applied approach to cover all the latest research and topic areas important to students taking Finance courses. The new edition provides an international perspective on all areas of corporate finance and has been updated to include discussion on current trends such as the integrated nature of global supply chains, financial risk management, and key regulatory changes impacting the sector. It addresses the impact that FinTech, the climate and geopolitics are having on the development of corporate finance, considers the questions brought about by the global corona virus pandemic, and looks to the future of the industry. Understanding and Application •Clear, user-friendly style •Example boxes in every chapter provide hypothetical examples to illustrate theoretical concepts such as cash flow timing, dividend smoothing and differential growth. •Real World Insight boxes use companies like Apple, Volkswagen and Adidas to show how they have applied corporate finance theories and concepts to their business decisions. •Chapter links throughout provide quick cross-referencing to show the connections between topics. Practice and Proficiency •Mini and Practical cases present scenarios and questions to practice application and learning. •Questions and Problems in each chapter, categorised by topic and level of difficulty, allow for rigorous testing of the chapter content. •Numbered maths equations and key notation boxes listing the variables and acronyms that will be encountered in each chapter, designed to encourage mastery of Maths. •Exam Questions designed to take 45 minutes and test you on material learned in a more formal exam style. •Connect® resources include algorithmic questions designed to ensure equations and calculations are not learned by rote but by thorough understanding and practice. New to This Edition •Sustainability in Action boxes draw on issues relating to the environment, society, the economy and climate change to show how corporate finance is so important to the resolution of sustainability challenges. •Updated discussions and new sections on sustainable value added, green bonds, dividend policy and share repurchases, Islamic Financing, intangible valuation, and the differential value method. Available on McGraw Hill’s Connect®, the well-established online learning platform, which features our award-winning adaptive reading experience as well as resources to help faculty and institutions improve student outcomes and course delivery efficiency. To learn more, visit mheducation.co.uk/connect David Hillier is Associate Principal and Executive Dean of the University of Strathclyde Business School. A Professor of Finance, David was recognized as being in the top 3 per cent of the most prolific finance researchers in the world over the past 50 years (Heck and Cooley, 2009) and appears regularly in the media as a business commentator. His YouTube channel of finance lectures (professordavidhillier) has attracted nearly half a million views worldwide. This European edition is originally based on the Corporate Finance text by Stephen A. Ross, Randolph W. Westerfield, Jeffrey F. Jaffe, and Bradford D. Jordan.

The Financial Times Handbook of Corporate Finance

Author : Glen Arnold
Publisher : Pearson UK
ISBN 13 : 0273726579
Total Pages : 814 pages
Book Rating : 4.2/5 (737 download)

DOWNLOAD NOW!

Book Synopsis The Financial Times Handbook of Corporate Finance by : Glen Arnold

Download or read book The Financial Times Handbook of Corporate Finance written by Glen Arnold and published by Pearson UK. This book was released on 2011-01-24 with total page 814 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Ebook: Fundamentals of Corporate Finance

Author : Brealey; Myers;
Publisher : McGraw Hill
ISBN 13 : 0077185048
Total Pages : 802 pages
Book Rating : 4.0/5 (771 download)

DOWNLOAD NOW!

Book Synopsis Ebook: Fundamentals of Corporate Finance by : Brealey; Myers;

Download or read book Ebook: Fundamentals of Corporate Finance written by Brealey; Myers; and published by McGraw Hill. This book was released on 2016-04-16 with total page 802 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ebook: Fundamentals of Corporate Finance

Accounting for Financial Instruments

Author : Emanuel Camilleri
Publisher : Routledge
ISBN 13 : 1315299410
Total Pages : 433 pages
Book Rating : 4.3/5 (152 download)

DOWNLOAD NOW!

Book Synopsis Accounting for Financial Instruments by : Emanuel Camilleri

Download or read book Accounting for Financial Instruments written by Emanuel Camilleri and published by Routledge. This book was released on 2017-05-12 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting for Financial Instruments is about the accounting and regulatory framework associated with the acquisition and disposal of financial instruments; how to determine their value; how to manage the risk connected with them; and ultimately compile a business valuation report. Specifically, the book covers the following topics, amongst others: Accounting for Investments; Bills of exchange; Management of Financial Risks; Financial Analysis (including the Financial Analysis Report); Valuation of a business (including the Business Valuation Report) and Money laundering. Accounting for Financial Instruments fills a gap in the current literature for a comprehensive text that brings together relevant accounting concepts and valid regulatory framework, and related procedures regarding the management of financial instruments (investments), which are applicable in the modern business world. Understanding financial risk management allows the reader to comprehend the importance of analysing a business concern. This is achieved by presenting an analytical framework to illustrate that an entity’s performance is greatly influenced by its external and internal environments. The analysis of the external environment examines factors that impact an entity’s operational activities, strategic choices, and influence its opportunities and risks. The analysis of the internal environment applies accounting ratio analysis to an entity’s financial statements to examine various elements, including liquidity, profitability, asset utilisation, investment, working capital management and capital structure. The objective of the book is to provide a fundamental knowledge base for those who are interested in managing financial instruments (investments) or studying banking and finance or those who wish to make financial services, particularly banking and finance, their chosen career. Accounting for Financial Instruments is highly applicable to both professional accountants and auditors and students alike.

The SAGE Encyclopedia of Business Ethics and Society

Author : Robert W. Kolb
Publisher : SAGE Publications
ISBN 13 : 148338151X
Total Pages : 4074 pages
Book Rating : 4.4/5 (833 download)

DOWNLOAD NOW!

Book Synopsis The SAGE Encyclopedia of Business Ethics and Society by : Robert W. Kolb

Download or read book The SAGE Encyclopedia of Business Ethics and Society written by Robert W. Kolb and published by SAGE Publications. This book was released on 2018-03-27 with total page 4074 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spans the relationships among business, ethics, and society by including numerous entries that feature broad coverage of corporate social responsibility, the obligation of companies to various stakeholder groups, the contribution of business to society and culture, and the relationship between organizations and the quality of the environment.

Survey Research in Corporate Finance

Author : H. Kent Baker
Publisher : Oxford University Press
ISBN 13 : 0199924198
Total Pages : 696 pages
Book Rating : 4.1/5 (999 download)

DOWNLOAD NOW!

Book Synopsis Survey Research in Corporate Finance by : H. Kent Baker

Download or read book Survey Research in Corporate Finance written by H. Kent Baker and published by Oxford University Press. This book was released on 2011-01-19 with total page 696 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate finance is a multifaceted discipline in which everything works in theory but not necessarily in practice. To bridge this gap, intelligently designed and executed surveys are essential in empirically validating conceptual hypotheses and the relative usefulness of various theories. Survey Research in Corporate Finance is a unique summary of state-of-the-art survey research in finance. Baker, Singleton, and Veit catalog and discuss the most important contributions to the field and provide a longitudinal perspective unavailable anywhere else. They offer an objective look at the role survey research in finance should play and illustrate the general and particular aspects of the form this research should take, how it is typically carried out, and how it should ideally be carried out, taking into account considerations developed throughout the book. The book provides financial researchers with a useful overview of survey methodology, synthesizes the major streams or clusters of survey research in corporate finance, and offers a valuable resource and guide for those interested in conducting and reading survey research in finance. Because a variety of views exist on the role of survey research in corporate finance, the authors present key findings from the varying perspectives of finance academics, finance journal editors, and finance practitioners. Synthesizing survey results on major issues in finance and offering knowledge learned from years of communications between academics and practitioners, Survey Research in Corporate Finance enables students and scholars of finance, as well as decision makers in many different kinds of firms, to actually determine how the theories on which their work is based actually play out in practice. This book is an essential, one-of-a-kind reference for any practitioners or academics interested in survey research in corporate finance.