Cash has been called the lifeblood ofa business. A company’s ability togenerate cash from its activities is acritical determinant of its survivaland growth. Moreover, companiesthat consume cash consistently are on the wayto disaster.This makes the cash-flow statement a vital setof information...

ENGLISH ABSTRACT: To date, there has been significant research completed on the topic of corporate financial distress. Two pioneering researchers in the field of predicting financial distress was Beaver in 1966 and Altman in 1968. More recent research, based on companies listed on the JSE has...

The primary financial objective of a firm is the maximisation of its shareholders’value. A problem faced by the shareholders of a firm is that it is difficult to determinethe effect of management decisions on the future share returns of the firm.Furthermore, it may be necessary to implement...

Advisor: Susan Vowels

Daimler Chrysler is an international auto manufacturing company. DaimlerChrysler was formed in 1998 when Daimler Benz merged with the Chrysler Corporation.This merger launched the company into an international powerhouse. Currently, DaimlerChrysler has products in over 200 countries on six...

Thesis--Columbia University.

Regression analysis has shown that recovery rates are determined by a variety of conditions at the time of default. These conditions can be broken into five major categories: (1) a security's seniority within the capital structure of the defaulting firm, (2) the type of default event, (3)...

This study investigates the importance of reduced capital misallocation in explaining the gains in corporate spinoffs. The capital misallocation hypothesis asserts that the internal capital market of a diversified firm fails to meet the needs of the relatively low growth divisions for less...

Past literature attempts to resolve the issue of the motivation behind managers' choice of a given capital structure. Despite several decades of intensive research, there is still no consensus about which theory dominates capital structure decisions. The present study empirically investigates...

This dissertation investigates one of the most critical issues in recent corporate governance research, executive compensation. It includes two essays on how executives should be paid and which parties can monitor those decisions.First essay, "Are Foreign Investors Really Beneficial? Evidence...