Capital Structure and Firm Efficiency
Capital Structure and Firm Efficiency
... 10.1111/j.1468-5957.2007.02056.x Capital Structure and Firm Efficiency Dimitris Margaritis and Maria Psillaki∗Abstract: This paper investigates the relationship between firm efficiency and leverage. Weconsider ... choice of capital structure (see Harris and Raviv,1991; and Rajan and Zingales, 1995). Firm size (SIZE) is measured by the logarithm ofthe firm s sales (see Titman and Wessels, 1988; Rajan and Zingales, ... and debentures.C2007 The AuthorsJournal compilationCBlackwell Publishing Ltd. 2007 CAPITAL STRUCTURE AND FIRM EFFICIENCY 1451Myers, 1984) and taxation (DeAngelo and Masulis, 1980; and...
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CAPITAL STRUCTURE AND FIRM PERFORMANCE IN VIETNAM
... 2013Writer Duong Hong Ngoc CHAPTER I Backgrounds on capital structure and firm performance1.1. Firm s capital and capital structure 1.1.1. Cost of capital For each project that a company invests ... (FEM) and random effect model (REM).The structure of this research is:Chapter 1: Backgrounds on Capital Structure and Firm PerformanceChapter 2: Analysis of the relationship between capital structure ... Relationship between Corporation Performance and Capital Structure. China-USA Business Review 4(4)5Zeitun, R. and Tian, G.G (2007). Capital structure and corporate performance: evidence from Jordan....
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Optimal security design and dynamic capital structure in a countinous time agency model DEMARZO & SANNIKOV
... principal structure models developed by Leland and Toft (1996), Leland (1998), and others. These papers take the form of the securities as given and derive the effect of capital structure on ... owns the firm and the investors are competitive, other possibilities are straightforward. For example, if the current owners choose the capital structure to maximize the firm s value, and the ... an expanded version of Table I. We do not include a row for λ, but it is easy to see that λ and σ have the same effects on W0, W*, and b(W*), and the effect of λ on CL and D...
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Tài liệu Discussion of Firm Efficiency Level and Equity Returns ppt
... Discussion of Firm Efficiency Level and Equity ReturnsThe term "efficient" firm is widely used in economics. For example, an efficient firm is the one producing at ... value a firm could have obtained if it were to maximize firm value. The deviation from the maximum value is defined as "inefficiency level". Hence, firms with low "inefficiency" ... "inefficiency" are classified as the "efficient" firms.Once firm efficiency levels are determined, Nguyen and Swanson proceed to examine firm performance using asset pricing techniques. Specifically,...
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Credit Ratings and Capital Structure doc
... Ratings and Capital Structure 1049Table ISample Summary Statistics—Ratings and LeverageMeans, medians, and standard deviations of debt/(debt + equity) by credit rating within the sample, and the ... should be diminished.Credit Ratings and Capital Structure 1053Table IIICredit Rating Impact on Capital Structure Decisions—Plus or Minus TestsCoefficients and standard errors from pooled time-series ... (1984)). Firms will preferto fund projects first with internal funds and then with debt, and only wheninternal funds have been extinguished and a firm has reached its debt capacitywill a firm...
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The effect of economic and accounting variables on capital structure empirical evidence from iranian companies
... “Strategic Assets, Capital Structure, and Firm Performance", Journal Of Financial And Strategic Decisions. No.3, PP. 23-36. [8] Miguel, A. and Peinado, C. 2004. "Optimal Capital Structure, ... relationship between GDP and capital structure. All accounting variables include short-term and long-term debt ratios and payable dividend have also positive relationship with capital structure. Further ... accounting variables on capital structure. References [1] Bokpin, G. A. 2009. "Macroeconomic Development and Capital Structure Decisions of Firms". Studies in Economics and Finance. Vol....
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Data Security Policy - Structure and Guidelines
... appropriate and proportionate to the values of and degree of relianceon the information systems and to the severity, probability, and extent of potentialfor direct and indirect, tangible and intangible ... Policy - Structure and Guidelines • December 200117. Records retention and backup18. Security Awareness and education19. Partner and 3rdparty connectivity20. System development and deployment21. ... monitoring and audit for policy compliance13. Firewall implementation and management14. Virus prevention and protection15. System and network ownership and management16. End user accountability and...
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International Capital Flows and Boom-Bust Cycles in the Asia Pacific Region +
... of CAP shocks on CUR and RGDP are invariant to the ordering between CUR and RGDP. On the other hand, capital flows might affect CUR and RGDP within a quarter, and the CUR and RGDP shocks may ... Philippines, and Thailand), China, Singapore, Taiwan, Hong Kong, Japan, Australia and New Zealand. Section 4 provides an empirical analysis of the relationship between capital flows and business ... correlations for capital flow shocks and cumulative capital flow shocks, with and without the crisis period, are positive, except for only two cases. This result suggests that capital flow shocks...
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Ensuring Financial Stability: Financial Structure and the Impact of Monetary Policy on Asset Prices
... Denmark, Switzerland, Spain, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway and the UK, a three-month Treasury bill rate for Belgium, Sweden and the US, and a three-month ... Australia, Finland, Ireland, the Netherlands, Norway, Spain, Sweden, the UK and the US; countries in the second group are Belgium, Canada, Denmark, France, Germany, Italy, Japan and Switzerland. ... the 95% level in Canada, Finland, the Netherlands, Norway, Sweden, Switzerland, the UK and the US. Moreover, while in some countries, (including Finland, the UK and the US) residential property...
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The relationship between an organization’s structure and culture and the effects on business performance
... Introduction: 2II. Detail: 31. Evaluate and compare different organizational structures and culture: 32. The relationship between an organization’s structure and culture and the effects on business performance: ... work well, entrepreneurialstyle and spirit, good judgment and consensus building skills…etc.2. The relationship between an organization’s structure and culture and the effects on businessperformance:As ... collective self-image and styleof the organization; its shared values and beliefs, norms and symbols”5 Each organization has different expectations, values, norms and ways to adapt and identify itsculture....
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