CapitalStructureCapitalStructure DeterminationDetermination 1. CapitalStructure Determination •AConceptualLook •TheTotal-ValuePrinciple •PresenceofMarketImperfectionsand IncentiveIssues •TheEffectofTaxes •TaxesandMarketImperfectionsCombined •FinancialSignaling 2. CapitalStructure –Concernedwiththeeffectofca...
资本结构(Capital Structure).ppt,Capital Structure 资本结构 Definition of Capital Structure Concept of Capital Structure Features of Modern Firms’ Capital Structure Concept of Capital Structure Broad Sense Proportion of equity capital to debt capital Nar
1、Capital Structure资本结构 2022/7/1812Capital StructureBrief contents :Definition of Capital StructureDriving Forces for Capital StructureReview of Capital Structure TheoriesOptimal Capital Structure DecisionsEffects of Capital Structure 2022/7/182Definition of Capital StructureConcept of Capital Structu 2、...
CAPITAL STRUCTURE DECISION PPTcapital structure decision
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2. Factors affect Target capital structure: --Cost of capital of all sources ; --Profitability and ability of gaining cash flows ; --Growth opportunities; --Tax rate; --How assets structure matches capital structure; --Operating risks; ...
Summary of capital structure theory “Optimal” capital structure is a complex decision. No single theory adequately describes how firms set capital structure, but all have merit. Trade-off theory is very difficult to empirically test properly. Pecking order and market timing theories describe how fi...
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CorporateFinance(Econ906)Lecture CapitalStructureRead: Hillier,Grinblatt&TitmanChapters14-17 Copeland/Weston–Chapter15 BrealeyandMyersChapter16-19 ModiglianiandMiller,“TheCostofCapital,CorporationFinance,andtheTheoryofInvestment,AmericanEconomicRev
13 Capital Structure Management in Practice. Figure 13.1 Behavior of (a) Variable, (b) Fixed, and (c) Semivariable Costs CONTEMPORARY FINANCIAL MANAGMENT / MOYER © 2003 South-Western