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Implemented widely in the area of corporate finance, Hamada’s Equation enables one to separate the financial risk of a levered firm from its business risk. The relationship, which results from combining the Modigliani-Miller capital structuring theorems with the Capital Asset Pricing Model, is...
Persistent link: https://www.econbiz.de/10005837485
and risky levels of debt ratios. Since debt has tax advantages over other sources of capital, this paper employs simulated … analyses three different measures of leverage; debt to asset (DAR) ratio, incremental debt to total assets ratio (DINC) and … debt to capital employed (DAR1) ratio. For each measure of leverage ratio, different specifications based on four variants …
Persistent link: https://www.econbiz.de/10011107586
firm’s leverage significantly determines its coalmining fatality: A 10% increase in the debt ratio leads, on average, to a …
Persistent link: https://www.econbiz.de/10011260832
The capital structure of a company consists of a particular combination of debt and equity issues to relieve potential … tangibility, size, growth opportunities, profitability and non-debt tax shields. Our main results reveal that there is a negative … and statistically significant relationship between non-debt tax shields and size and debt and there is a positive and …
Persistent link: https://www.econbiz.de/10011113311
This paper aims at comparing French and Californian social businesses' financial structure and their access to equity and equity-like funding. The author finds from the study of an 800-French social businesses sample that these French organizations suffer from a lack of access to this type of...
Persistent link: https://www.econbiz.de/10009294581
The authors perform an original research on the fundamentals of winning virtuous strategies creation toward the leveraged buyout transactions implementation during the private equity investment in the conditions of the resonant absorption of discrete information in the diffusion - type financial...
Persistent link: https://www.econbiz.de/10011156987
The authors perform an original research on the fundamentals of winning virtuous strategies creation toward the leveraged buyout transactions implementation during the private equity investment in the conditions of the resonant absorption of discrete information in the diffusion - type financial...
Persistent link: https://www.econbiz.de/10011107335
The authors perform an original research on the fundamentals of winning virtuous strategies creation toward the leveraged buyout transactions implementation during the private equity investment in the conditions of the resonant absorption of discrete information in the diffusion - type financial...
Persistent link: https://www.econbiz.de/10011111186
entrepreneur, focusing on three main premises: (i) debt and short term payback, (ii) capital and knowledge acquisition for a … sustainable business model (iii) new forms of – debt free - payback to fit the business ability to grow and to focus the financial …
Persistent link: https://www.econbiz.de/10011259491
This document, intended to be discuss and criticized, aims for the implementation on the city of Barreiro, Portugal, of a Local Investment Agency. The final objective of such project is to allow entrepreneurs and investors to build in the city new ventures that can create employment, build an...
Persistent link: https://www.econbiz.de/10011260164