'Optimal capital structure' diaporamas de présentation

Risk Management

Risk Management. Dr. Keith M. Howe Summer 2008. Definition. Risk and uncertainty. Risk management. Risk aversion. The process of formulating the benefit-cost trade-offs of risk reduction and deciding on the course of action to take (including the decision to take no action at all).

2.01k views • 161 slides

CHAPTER 16-7 Capital Structure Decisions: The Basics (Short version)

CHAPTER 16-7 Capital Structure Decisions: The Basics (Short version). Business vs. financial risk Capital structure theory Setting the optimal capital structure. Capital Structure Decisions: Extensions. MM models Miller model Financial distress and agency costs Tradeoff models.

1.49k views • 107 slides

MN50324: MAF Corporate Finance: Semester 2, 2007/8 Investment Appraisal, decision trees, and real options. Risk and Re

MN50324: MAF Corporate Finance: Semester 2, 2007/8 Investment Appraisal, decision trees, and real options. Risk and Return and Cost of Capital. Capital Structure and Value of the Firm. 4. Optimal Capital Structure - Agency Costs, Signalling. 5. Mergers and Acquisitions.

1.19k views • 92 slides

Financial Leverage and Capital Structure

Financial Leverage and Capital Structure. Chapter Seventeen. Key Concepts and Skills. Understand the effect of financial leverage on cash flows and cost of equity Understand the impact of taxes and bankruptcy on capital structure choice

1.29k views • 85 slides

CHAPTER 13 Capital Structure and Leverage

CHAPTER 13 Capital Structure and Leverage. Business vs. financial risk Optimal capital structure Operating leverage Capital structure theory. Key Concepts and Skills. Understand the effect of financial leverage on cash flows and cost of equity

1.94k views • 63 slides

A Dynamic Optimal Capital Structure Model with Costly Adjustment Mechanisms

A Dynamic Optimal Capital Structure Model with Costly Adjustment Mechanisms. Hsien-Hsing, Liao Yi-Hsuan, Tung Tsung-kang Chen Department of Finance National Taiwan University 2008.12.12. Abstract.

1.11k views • 54 slides

Capital Structure and Dividend Policy Decisions

Capital Structure and Dividend Policy Decisions. Chapter 14. Equity. Debt. Equity. Debt. Equity. Equity. Equity. Debt. Equity. Equity. Debt. Debt. Equity. Equity. Debt. Debt. Equity. Capital Structure. The combination of debt and equity used to finance a firm. Preferred Stock.

672 views • 50 slides

Capital Structure and Leverage

Capital Structure and Leverage. Business vs. financial risk Optimal capital structure Operating leverage Capital structure theory. What is business risk?. Uncertainty about future operating income (EBIT), i.e., how well can we predict operating income?

955 views • 44 slides

Financial Leverage and Capital Structure

Lecture 13. Financial Leverage and Capital Structure. Key Concepts and Skills. Understand the effect of financial leverage on cash flows and cost of equity Understand the impact of taxes and bankruptcy on capital structure choice Understand the basic components of the bankruptcy process.

1.11k views • 43 slides

PRESENTATION ON THE NAIROBI STOCK EXCHANGE Visit by Netherlands Private Sector Development Staff

PRESENTATION ON THE NAIROBI STOCK EXCHANGE Visit by Netherlands Private Sector Development Staff Mr. Chris Mwebesa Chief Executive March 29 2007 TABLE OF CONTENTS The Role of the Nairobi Stock Exchange (NSE) Current Status of the NSE Market Structure Market Performance Overview

1.41k views • 42 slides

The Cost of Capital

The Cost of Capital. Managerial Finance I Keldon Bauer, PhD. Introduction. NPV depends on the discount rate, k, which is the weighted average cost of capital. Adopting projects based on IRR depends on the discount rate, k, the weighted average cost.

573 views • 34 slides

Capital structure

Capital structure . Issues: What is capital structure? Why is it important? What are the sources of capital available to a company? What is business risk and financial risk? What are the relative costs of debt and equity? What are the main theories of capital structure?

1.92k views • 32 slides

Session 7: Capital Structure

Session 7: Capital Structure. C15.0008 Corporate Finance Topics. Outline. Distress costs Agency conflicts Finding the optimal capital structure. Financial Distress Costs. Direct costs Lawyers, accountants, consultants fees Forced asset sales Indirect costs Wasted time and energy

454 views • 27 slides

Capital Structure

Capital Structure. FIL 341 Prepared by Keldon Bauer. Target Capital Structure. Definition: The mix of debt, preferred stock, and common stock the firm plans to use over the long-run to finance its operations.

793 views • 26 slides

855 views • 21 slides

Chapter 11 - Cost of Capital

936 views • 20 slides

Capital Structure: Non-Tax Determinants Of Corporate Leverage

Capital Structure: Non-Tax Determinants Of Corporate Leverage. Professor XXXXX Course Name / Number. In perfect markets, capital structure is irrelevant. If markets are perfect except for corporate taxes, then the optimal capital structure is 100% debt. Optimal Capital Structure.

599 views • 19 slides

TCW Asset Management Company MOGA Capital Markets Update

TCW Asset Management Company MOGA Capital Markets Update. Patrick Hickey Senior Vice President May 2006. Table of Contents. Market Perspectives Mezzanine Market Overview TCW Overview Conclusions. Energy Product Prices. Energy Capital Markets. Trends in the E&P Markets.

519 views • 17 slides

Capital Structure

302 views • 15 slides

Final review

245 views • 10 slides