Do credit ratings really affect capital structure
Do credit ratings really affect capital structure
... commercial Electronic copy available at: http://ssrn.com/abstract=2254037 1 Do Credit Ratings Really Affect Capital Structure? Kristopher J. Kemper * University of Wisconsin-Eau Claire Ramesh ... into the role credit ratings play in the marginal financing behavior of firms. While it has long been documented that credit ratings may be an important determinant of f...
Ngày tải lên: 24/04/2014, 15:44
Credit Ratings and Capital Structure doc
... time-series credit rating variation within firms to identify the relationship between credit ratings and capital structure. The Credit Ratings and Capital Structure 1055 Table IV Credit Rating ... the influence of credit ratings on capital struc- ture decisions. The impact of credit ratings on capital structure decisions has not been formally investigated in t...
Ngày tải lên: 06/03/2014, 08:20
corporate capital structure full paper
... complication does not affect the outcome: personal taxes do not change when equity income is substituted by debt income. However, if these tax rates are different from each other, they may affect capital ... volatility of EPS Survey Results Target capital structures are rarer than we imagined. 68% of firms say that they have a target capital structure, but 32% do not ...
Ngày tải lên: 29/04/2013, 14:06
ON THE DETERMINANTS OF CAPITAL STRUCTURE: AN EMPIRICAL STUDY OF VIETNAMESE LISTED FIRMS
... of capital structure. Eldomiaty and Ismail (2009) examine the capital structure of Egyptian firms and find the evidence supporting Trade-off theory. Gurcharan, (2010) examines the capital structure ... of capital structure subject to specific condition in which prediction of some theories work while hypothesis of other theories do not. Likewise the behavior of firms to adj...
Ngày tải lên: 09/09/2013, 23:46
ON THE DETERMINANTS OF CAPITAL STRUCTURE: AN EMPIRICAL STUDY OF VIETNAMESE LISTED FIRMS
... go listed • Capital transfer is subject to right of first refusal • Each member’s liability is limited to the amount of its capital contribution paid to the company • Management structure: ... have a high participation rate in a sample selected randomly from a population. In experiments, bias is also less likely if subjects are randomly assigned to treatments, and if subjects and rese...
Ngày tải lên: 09/09/2013, 23:50
Chapter 13 leverage & capital structure
... basic types of capital, external assessment of capital structure and capital structure theory. Explain the optimal capital structure using a graphic view of the firm’s cost of capital functions ... approach to capital structures. Review the return and risk of alternative capital structures and their linkage to market value, and other important considerations relate...
Ngày tải lên: 16/12/2013, 14:57
CAPITAL STRUCTURE AND FIRM PERFORMANCE IN VIETNAM
... its creditors, owners, and other providers of capital, or they will invest elsewhere. 1.1.2. Capital structure and capital structure policy 1.1.2.1. Leverage, Capital Structure and Optimal Capital ... taxes Figure 1.7 The Static Theory of capital structure: Optimal capital structure and the cost of capital Figure 1.8 The Static Theory of capital structure: Optimal...
Ngày tải lên: 26/12/2013, 15:19
CẤU TRÚC vốn với rủi RO đầu tư nước NGOÀI CAPITAL STRUCTURE WITH RISKY FOREIGN INVESTMENT
... phần trăm chứng khoán có quyền biểu quyết đối với các doanh nghiệp kinh doanh cổ phần nước ngoài hoặc tương đương đối với doanh nghiệp kinh doanh không có tư cách pháp nhân của nước ngoài bởi ... RỦI RO ĐẦU TƯ NƯỚC NGOÀI - CẤU TRÚC VỐN VỚI RỦI RO ĐẦU TƯ NƯỚC NGOÀI - CAPITAL STRUCTURE WITH RISKY FOREIGN CAPITAL STRUCTURE WITH RISKY FOREIGN INVESTMENT INVESTMENT 1. Mục tiêu, ph...
Ngày tải lên: 26/12/2013, 15:19
Optimal security design and dynamic capital structure in a countinous time agency model DEMARZO & SANNIKOV
... the capital structure is incentive compatible – the agent will not steal and will pay dividends if and only if the credit line is fully repaid. Under what conditions does this capital structure ... project. The mix of debt and credit will depend on these parameters, however, as we explore next. II. Optimal Capital Structure and Security Prices The capital structure...
Ngày tải lên: 12/01/2014, 22:16
Tài liệu A Historical Primer on the Business of Credit Ratings docx
... shrank during bad times when issues were downgraded. If the downgraded issues were not sold, the capital losses were frequently paper ones, since many downgraded issues were promptly upgraded ... environmental changes would create new opportunities for the ratings agencies. 3. Globalization of Credit Ratings, 1970s-2000 Historical Parallels. Credit rating agencies expanded...
Ngày tải lên: 16/02/2014, 03:20