Remarks at The Economic Club of New York, New York City.

Remarks at The Economic Club of New York, New York City.

One of the elements of company's evaluation is ratio analysis. It includes computation of bankruptcy risk metrics. There are multiple such measures, of which two seem to be quite universal and commonly applied. These are current ratio and indebtedness ratio. In this study, the accuracy of...

One of the elements of company's evaluation is an analysis of bankruptcy risk metrics. In this study, the accuracy of bankruptcy predictions generated by EBITDA-based and cash flow-based liabilities-coverage ratios is evaluated within a sample of data from the Polish market. The study is based...

This article investigates consolidation and restructuring in the banking sector in Nepal that was induced by regulatory intervention in recent years. We compare the financial performance of the overall commercial banking sector and selected commercial banks on an individual basis before and...

There can be little doubt that competition in the pharmaceutical industry has increased considerably overthe past few years. Growth in the pharmaceutical industry in South Africa has been affected adversely inrecent years by the increased competition from generic drug manufacturers. As soon as a...

This paper broadens perpetuity gain to level (GL) research by analyzing the role of growth within the capital structure model (CSM) formalized by Hull (2007). We contrast the cost of using internal equity versus external equity when expanding a firm's assets. Contrary to pecking order theory, we...

This paper broadens perpetuity gain to leverage (GL) research by analyzing the role of growth within the Capital Structure Model (CSM) formalized by Hull (2007). We demonstrate that internal equity is more expensive than external equity due to the double corporate taxation of cash flows...