NBER WORKING PAPER SERIES AND CAPITAL STRUCTURE
... but wait longer to issue additional debt. Higher volatility increases the option value of default and restructuring, which can make firms wait longer before exercising these options. One interesting prediction of the model is that upward restructuring probabilities will be more sensitive to changes ...
... but wait longer to issue additional debt. Higher volatility increases the option value of default and restructuring, which can make firms wait longer before exercising these options. One interesting prediction of the model is that upward restructuring probabilities will be more sensitive to changes ...
The Value Relevance of Regulatory Capital Components
... iv) the prudential filter on unrealised gains and losses on available for sale (AFS) securities, and v) the inclusion of minority interests. These regulatory adjustments are the most significant adjustments. Moreover, these adjustments were all the subject of intensive discussions between regulators ...
... iv) the prudential filter on unrealised gains and losses on available for sale (AFS) securities, and v) the inclusion of minority interests. These regulatory adjustments are the most significant adjustments. Moreover, these adjustments were all the subject of intensive discussions between regulators ...
The Relationship between the Equity Risk Premium
... focused primarily on its estimation. The resulting papers cover mainly the different methods of approach, which range from the use of accounting fundamentals (Tippett, 2000) to asset pricing models (Mehra and Prescott, 1985) and analyst growth forecasts (Harris, 1986), etc. [see, for instance, Arnot ...
... focused primarily on its estimation. The resulting papers cover mainly the different methods of approach, which range from the use of accounting fundamentals (Tippett, 2000) to asset pricing models (Mehra and Prescott, 1985) and analyst growth forecasts (Harris, 1986), etc. [see, for instance, Arnot ...
Entrepreneurial Valuation Techniques
... Exit: assuming the best, the company is sold for $125MM, of which the OI’s get $30MM in return for $4.5MM invested over 5 + years. 6.7X cash on cash return or, depending on the exact exit timing, approximately a 30% IRR. ...
... Exit: assuming the best, the company is sold for $125MM, of which the OI’s get $30MM in return for $4.5MM invested over 5 + years. 6.7X cash on cash return or, depending on the exact exit timing, approximately a 30% IRR. ...
Part I – Introduction - LSA
... year, suing doesn’t give creditor priority [SH: I’m not sure why it would give creditor priority anyway?]. o SH: money accumulated on a regular basis in a separate custodial account that is used to redeem debt securities or preferred stock issues. A bond indenture or preferred stock charter may spec ...
... year, suing doesn’t give creditor priority [SH: I’m not sure why it would give creditor priority anyway?]. o SH: money accumulated on a regular basis in a separate custodial account that is used to redeem debt securities or preferred stock issues. A bond indenture or preferred stock charter may spec ...
Financial and Marketing Management
... - When to raise (time) - Sources from which to raise - How much (quantum of money) - In which form (debt or equity) - Cost of raising funds ...
... - When to raise (time) - Sources from which to raise - How much (quantum of money) - In which form (debt or equity) - Cost of raising funds ...
Understanding and measuring finance for productive investment
... heavily dependent on bank funding or internal funds. The investment decisions of small firms, which account for around 30% of total business investment, are likely to be sensitive to their access to external finance. Surveys show that small firm access to finance remains an issue, but it now affects ...
... heavily dependent on bank funding or internal funds. The investment decisions of small firms, which account for around 30% of total business investment, are likely to be sensitive to their access to external finance. Surveys show that small firm access to finance remains an issue, but it now affects ...
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lincoln national corporation
... example, to adverse operating conditions or further indemnity reinsurance transactions of this nature or if dividends are approved or paid at amounts higher than recent history, the statutory earned surplus may not return to a positive position in a two year time frame. Although no assurance can be ...
... example, to adverse operating conditions or further indemnity reinsurance transactions of this nature or if dividends are approved or paid at amounts higher than recent history, the statutory earned surplus may not return to a positive position in a two year time frame. Although no assurance can be ...
The Balance Sheet
... Indicate with an I for income statement, a B for balance sheet, and an S for statement of changes in owner’s equity in which financial statement(s) you would most likely find the following. I,S I B S I B ...
... Indicate with an I for income statement, a B for balance sheet, and an S for statement of changes in owner’s equity in which financial statement(s) you would most likely find the following. I,S I B S I B ...
Money, Banking, and Capital Formation
... activity. Many of these functions have been formally analyzed in the context of general equilibrium models of growth and capital accumulation. l Yet, until now, the class of models that integrates explicit financial market structures into neoclassical growth models has been purely real in nature. In ...
... activity. Many of these functions have been formally analyzed in the context of general equilibrium models of growth and capital accumulation. l Yet, until now, the class of models that integrates explicit financial market structures into neoclassical growth models has been purely real in nature. In ...
JZCP Annual Report and Financial Statements 2016
... million in the final close for JZI Fund III, L.P. (“Fund III”), the successor fund to the EuroMicrocap Fund 2010, LP (“EMC 2010”), demonstrating the confidence investors have in JZAI’s ability to source accretive long-term investments in the region. JZCP has committed €75 million to Fund III, which ...
... million in the final close for JZI Fund III, L.P. (“Fund III”), the successor fund to the EuroMicrocap Fund 2010, LP (“EMC 2010”), demonstrating the confidence investors have in JZAI’s ability to source accretive long-term investments in the region. JZCP has committed €75 million to Fund III, which ...
Annual Report - Pershing Square Capital Management
... investment decisions, the Board is still accountable for the performance of the Investment Manager and the system of internal controls used to manage the risks to which the Company is exposed. The Board undertook a formal review of the Investment Manager’s performance in 2016, along with a review of ...
... investment decisions, the Board is still accountable for the performance of the Investment Manager and the system of internal controls used to manage the risks to which the Company is exposed. The Board undertook a formal review of the Investment Manager’s performance in 2016, along with a review of ...
Hedging and Speculating with Interest Rate Swaps
... cash flows have the opposite interest rate sensitivity. Such risk management practices make it more likely that internally generated cash flows will cover both the firm’s interest expenses and its investment needs. This evidence is consistent with the model of Froot et al. (1993), who show that firm ...
... cash flows have the opposite interest rate sensitivity. Such risk management practices make it more likely that internally generated cash flows will cover both the firm’s interest expenses and its investment needs. This evidence is consistent with the model of Froot et al. (1993), who show that firm ...
Are Growth and Value Dead?
... Another challenge comes from the intense competitive dynamics of many New Economy industries. Michael Price (XXXXXrefrenceXXX) in the Gorilla Game described this as a “winner take all” environment. It is driven by the economics of products where development costs are high but production costs are lo ...
... Another challenge comes from the intense competitive dynamics of many New Economy industries. Michael Price (XXXXXrefrenceXXX) in the Gorilla Game described this as a “winner take all” environment. It is driven by the economics of products where development costs are high but production costs are lo ...
FREE Sample Here
... 17. Shareholders' equity is equal to: a. total assets plus total liabilities. b. net fixed assets minus total liabilities. C. fixed assets minus long-term debt plus net working capital. d. net working capital plus total assets. e. total assets minus net working capital. ...
... 17. Shareholders' equity is equal to: a. total assets plus total liabilities. b. net fixed assets minus total liabilities. C. fixed assets minus long-term debt plus net working capital. d. net working capital plus total assets. e. total assets minus net working capital. ...