Accruals, Financial Distress, and Debt Covenants Troy D. Janes
... This paper documents that accruals provide information that is useful for predicting financial distress and examines the use of this information by commercial lenders in setting debt covenants. Controlling for the level of earnings, firms with extreme accruals are more likely to experience financial ...
... This paper documents that accruals provide information that is useful for predicting financial distress and examines the use of this information by commercial lenders in setting debt covenants. Controlling for the level of earnings, firms with extreme accruals are more likely to experience financial ...
The Leverage Effect on Stock Returns-EFMA
... implied cost of capital. They find that although the cost of equity capital increases with leverage when corporate taxes are introduced, it reduces the risk premium. Following their work, this paper includes corporate effective tax rates and finds that the returns decrease in leverage where firms’ t ...
... implied cost of capital. They find that although the cost of equity capital increases with leverage when corporate taxes are introduced, it reduces the risk premium. Following their work, this paper includes corporate effective tax rates and finds that the returns decrease in leverage where firms’ t ...
RTF - Vornado Realty Trust
... Accounting Principles (“GAAP”), excluding extraordinary items as defined under GAAP and gains or losses from sales of previously depreciated operating real estate assets, plus specified non-cash items, such as real estate asset depreciation and amortization, and after adjustments for unconsolidated ...
... Accounting Principles (“GAAP”), excluding extraordinary items as defined under GAAP and gains or losses from sales of previously depreciated operating real estate assets, plus specified non-cash items, such as real estate asset depreciation and amortization, and after adjustments for unconsolidated ...
Atresmedia Corporación de Medios de Comunicación, S.A. (formerly
... financial statements and evaluation of whether their presentation, the accounting principles and policies applied and the estimates made comply with the applicable regulatory financial reporting framework. In our opinion, the accompanying financial statements for 2013 present fairly, in all material ...
... financial statements and evaluation of whether their presentation, the accounting principles and policies applied and the estimates made comply with the applicable regulatory financial reporting framework. In our opinion, the accompanying financial statements for 2013 present fairly, in all material ...
SYSCO CORP (Form: 10-Q, Received: 05/05/2015 06:07:42)
... over periods of up to three years only in the event that certain operating results are attained. As of March 28, 2015 , aggregate contingent consideration amounts outstanding relating to completed acquisitions were $ 38.8 million, of which $ 33.3 million was recorded as earnout liabilities as of Mar ...
... over periods of up to three years only in the event that certain operating results are attained. As of March 28, 2015 , aggregate contingent consideration amounts outstanding relating to completed acquisitions were $ 38.8 million, of which $ 33.3 million was recorded as earnout liabilities as of Mar ...
Financial Intermediation as a Beliefs
... informationally-advanced economies like the U.S. Moreover, the current theories also predict that Þnancial intermediaries would play a larger role in developing countries where credit transactions are plagued by all sorts of information problems and publicly available information is limited. Boyd an ...
... informationally-advanced economies like the U.S. Moreover, the current theories also predict that Þnancial intermediaries would play a larger role in developing countries where credit transactions are plagued by all sorts of information problems and publicly available information is limited. Boyd an ...
Risk Management and Value Creation in Financial Institutions
... rom an empirical as well as a personal point of view, risk management in the financial industry has been one of the most exciting and most researched areas over the last decade. Depositors and regulators claim that risk management is necessary, and many banks argue that superior risk management can ...
... rom an empirical as well as a personal point of view, risk management in the financial industry has been one of the most exciting and most researched areas over the last decade. Depositors and regulators claim that risk management is necessary, and many banks argue that superior risk management can ...
Horizons US 7-10 Year Treasury Bond CAD
... perceived relative safety of government bonds. Meanwhile, June saw the lead-up to the referendum in the United Kingdom, and subsequent reaction to the vote to leave the European Union, which created another spike in equity market volatility that had investors turning to the relative safety of fixed ...
... perceived relative safety of government bonds. Meanwhile, June saw the lead-up to the referendum in the United Kingdom, and subsequent reaction to the vote to leave the European Union, which created another spike in equity market volatility that had investors turning to the relative safety of fixed ...
A purely theoretical study on economic growth in small open
... In section 1 we give a discussion on the development of economic growth theory starting from the neoclassical growth models to the endogenous growth models in a closed economy context. The purpose of this section is to give a descriptive picture of basic economic growth models and also provide us so ...
... In section 1 we give a discussion on the development of economic growth theory starting from the neoclassical growth models to the endogenous growth models in a closed economy context. The purpose of this section is to give a descriptive picture of basic economic growth models and also provide us so ...
words
... The aggregate market value of the voting and non-voting common equity of the registrant held by non-affiliates, computed by reference to the closing price of the Class A Common Stock on the New York Stock Exchange, as of August 24, 2012 (the last day of the registrant’s most recently completed secon ...
... The aggregate market value of the voting and non-voting common equity of the registrant held by non-affiliates, computed by reference to the closing price of the Class A Common Stock on the New York Stock Exchange, as of August 24, 2012 (the last day of the registrant’s most recently completed secon ...
Annual Report 2014 - British American Tobacco
... This is the Annual Report of British American Tobacco p.l.c. (the Company) and the British American Tobacco Group, comprising the Strategic Report, Directors’ Report and the audited Financial Statements, for the year ended 31 December 2014. It has been drawn up and is presented in accordance with, a ...
... This is the Annual Report of British American Tobacco p.l.c. (the Company) and the British American Tobacco Group, comprising the Strategic Report, Directors’ Report and the audited Financial Statements, for the year ended 31 December 2014. It has been drawn up and is presented in accordance with, a ...
printmgr file
... in accordance with accounting principles generally accepted (“GAAP” or “R.O.C. GAAP”) in the Republic of China (“R.O.C.” or “Taiwan”) have not been included below. In addition to preparing financial statements in accordance with IFRSs as issued by the IASB included in this annual report, we also pre ...
... in accordance with accounting principles generally accepted (“GAAP” or “R.O.C. GAAP”) in the Republic of China (“R.O.C.” or “Taiwan”) have not been included below. In addition to preparing financial statements in accordance with IFRSs as issued by the IASB included in this annual report, we also pre ...
Risk and Capital Management
... a lesser degree, the Group assumes option risks. During periods with high market volatility, positions involving market risk are reduced to the extent necessary for the stated VaR to remain within an acceptable level. ...
... a lesser degree, the Group assumes option risks. During periods with high market volatility, positions involving market risk are reduced to the extent necessary for the stated VaR to remain within an acceptable level. ...
- Zodiac Aerospace
... -€34.4 million. Restated to account for the impact of the amortization of setting-up expenses or those of the syndicated loan rider, it amounted to -€32.4 million compared with -€29.1 million, an increase of €3.3 million generated by the increase in our needs after the acquisitions of Heath Tecna an ...
... -€34.4 million. Restated to account for the impact of the amortization of setting-up expenses or those of the syndicated loan rider, it amounted to -€32.4 million compared with -€29.1 million, an increase of €3.3 million generated by the increase in our needs after the acquisitions of Heath Tecna an ...
Capital Flows are Fickle: Anytime, Anywhere 183 WP/13/
... Compiling a dataset of both gross and net flows, we analyze the evolving nature of flows for a sample of 147 economies during 1980–2011, looking at their trends, composition, volatility, persistence and sensitivity to global conditions. Net flows are the financial counterpart to the current account ...
... Compiling a dataset of both gross and net flows, we analyze the evolving nature of flows for a sample of 147 economies during 1980–2011, looking at their trends, composition, volatility, persistence and sensitivity to global conditions. Net flows are the financial counterpart to the current account ...
STRATEGIC REPORT - Highlights Financial highlights
... For example, our data clearly shows how a cooling in demand on Rightmove across London at the end of 2014 led to an increase in stock, increased time on market through to lower price growth rates into 2015. We saw a similar pattern emerging again at the beginning of 2016, however this time demand co ...
... For example, our data clearly shows how a cooling in demand on Rightmove across London at the end of 2014 led to an increase in stock, increased time on market through to lower price growth rates into 2015. We saw a similar pattern emerging again at the beginning of 2016, however this time demand co ...