Firm Leverage Policy Decisions
Download Firm Leverage Policy Decisions full books in PDF, epub, and Kindle. Read online free Firm Leverage Policy Decisions ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
| Author | : Benjamin M. Friedman |
| Publisher | : University of Chicago Press |
| Total Pages | : 404 |
| Release | : 2009-05-15 |
| Genre | : Business & Economics |
| ISBN | : 0226264238 |
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.
| Author | : Alexander Allan Robichek |
| Publisher | : |
| Total Pages | : 182 |
| Release | : 1965 |
| Genre | : Corporations |
| ISBN | : |
| Author | : Christopher Candland |
| Publisher | : Routledge |
| Total Pages | : 282 |
| Release | : 2007-12-20 |
| Genre | : Political Science |
| ISBN | : 113408921X |
In this first comparative study of organized labor in India and Pakistan, the author analyses the impact and role of organized labor in democratization and development. The study provides a unique comparative history of Indian and Pakistani labor politics. It begins in the early twentieth century, when permanent unions first formed in the South Asian Subcontinent. Additionally, it offers an analysis of changes in conditions of work and terms of service in India and Pakistan and of organized labor’s response. The conclusions shed new light on the influence of organized labor in national politics, economic policy, economic welfare and at the workplace. It is demonstrated that the protection of workers has desirable outcomes not only for those workers covered but also for democratic practice and for economic development.
| Author | : H. Kent Baker |
| Publisher | : John Wiley & Sons |
| Total Pages | : 504 |
| Release | : 2011-03-31 |
| Genre | : Business & Economics |
| ISBN | : 1118022947 |
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.
| Author | : George M. Constantinides |
| Publisher | : Newnes |
| Total Pages | : 1732 |
| Release | : 2013-01-21 |
| Genre | : Business & Economics |
| ISBN | : 0444594655 |
This two-volume set of 23 articles authoritatively describes recent scholarship in corporate finance and asset pricing. Volume 1 concentrates on corporate finance, encompassing topics such as financial innovation and securitization, dynamic security design, and family firms. Volume 2 focuses on asset pricing with articles on market liquidity, credit derivatives, and asset pricing theory, among others. Both volumes present scholarship about the 2008 financial crisis in contexts that highlight both continuity and divergence in research. For those who seek insightful perspectives and important details, they demonstrate how corporate finance studies have interpreted recent events and incorporated their lessons. - Covers core and newly-developing fields - Explains how the 2008 financial crises affected theoretical and empirical research - Exposes readers to a wide range of subjects described and analyzed by the best scholars
| Author | : International Monetary Fund. Fiscal Affairs Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 78 |
| Release | : 2016-12-10 |
| Genre | : Business & Economics |
| ISBN | : 1498345204 |
Risks to macroeconomic stability posed by excessive private leverage are significantly amplified by tax distortions. ‘Debt bias’ (tax provisions favoring finance by debt rather than equity) has increased leverage in both the household and corporate sectors, and is now widely recognized as a significant macroeconomic concern. This paper presents new evidence of the extent of debt bias, including estimates for banks and non-bank financial institutions both before and after the global financial crisis. It presents policy options to alleviate debt bias, and assesses their effectiveness. The paper finds that thin capitalization rules restricting interest deductibility have only partially been able to address debt bias, but that an allowance for corporate equity has generally proved effective. The paper concludes that debt bias should feature prominently in countries’ tax reform plans in the coming years.
| Author | : Sebastian Kot |
| Publisher | : Springer Nature |
| Total Pages | : 1034 |
| Release | : |
| Genre | : |
| ISBN | : 9819709962 |
| Author | : Ms.Carmen Reinhart |
| Publisher | : International Monetary Fund |
| Total Pages | : 47 |
| Release | : 2015-01-21 |
| Genre | : Business & Economics |
| ISBN | : 1498338380 |
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
| Author | : Christopher Parsons |
| Publisher | : Now Publishers Inc |
| Total Pages | : 107 |
| Release | : 2009 |
| Genre | : Business & Economics |
| ISBN | : 160198202X |
Empirical Capital Structure reviews the empirical capital structure literature from both the cross-sectional determinants of capital structure as well as time-series changes.
| Author | : Adrian Alter |
| Publisher | : International Monetary Fund |
| Total Pages | : 49 |
| Release | : 2016-12-15 |
| Genre | : Business & Economics |
| ISBN | : 1475560494 |
Corporate debt in emerging markets has risen significantly in recent years amid accommodative global financial conditions. This paper studies the relationship of leverage growth in emerging market (EM) firms to U.S. monetary conditions, and more broadly, to global financial conditions. We find that accommodative U.S. monetary conditions are reliably associated with faster EM leverage growth during the past decade. Specifically, a 1 percentage point decline in the U.S. policy rate corresponds to an appreciable increase in EM leverage growth of 9 basis points, on average (relative to the sample average leverage growth of 35 basis points per year). This impact is more pronounced for sectors dependent on external financing, for SMEs, and for firms in more financially open EMs with less flexible exchange rates. The findings suggest that global financial conditions affect EM firms’ leverage growth in part by influencing domestic interest rates and by relaxing corporate borrowing constraints.
