UDC: 658.14 Keywords: determinants of capital structure – extent of leverage – listed companies in the Czech Republic Determinants of Capital Structure Empirical Evidence from the Czech Republic Patrik BAUER* The modern theory of capital structure was established by Modigliani and Miller (1958). Thirty-seven years later‚ Rajan and Zingales (1995‚ p. 1421) stated: “Theory has clearly made some progress on the subject. We now understand the most important departures from the Modigliani and
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Back ground of Study Working Capital refers to that part of the firm’s capital‚ which is required for financing short-term or current assets such a cash marketable securities‚ debtors and inventories. Funds thus‚ invested in current assets keep revolving fast and are constantly converted into cash and this cash flow out again in exchange for other current assets. Working Capital is also known as revolving or circulating capital or short-term capital. Therefore‚ working capital management is the
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ADAM BAIN AND THE PRICE MOMENTUM STRATEGY In February 1995‚ Adam Bain‚ investment advisor in the London‚ Ontario branch of RBC Dominion Securities Inc. (RBC DS)‚ was considering whether or not to implement a price momentum strategy for his clients. Trend and Cycle‚ DS’s technical research department‚ had recently circulated a copy of a study which described a simple price momentum model and referred to its “startling results” based on back testing the strategy over a 15 year period. The Trend
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I. TIME CONTEXT Current Situation II. POINTOF VIEW This presentation is in the point of view of the manager-owner. In this case‚ it is in the point of view of Miss Rose Malabanan‚ the proprietress of ROMA Bakery – a bakeshop that started in 1970 and until now‚ is still in the business after 38 years of continuous operation. Due to increase in demands‚ the owner is planning to expand the business by opening another branch. III. CENTRAL PROBLEM Does the plan of the owner-manager to open
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Clarkson Lumber Company 1. Identify the key problem in the case and explain why it is the key problem. Clarkson Lumber Company’ sales have been growing quickly over the last couple of years. Growths in working capital necessities have surpassed the capacity of the company to produce funds by itself. Also‚ part of the finances was used to buy out a partner‚ further raising the pressure. The company couldn’t appreciate discounts on accounts payable and started borrowing larger funds from the bank
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.................................................................. 2 Ratio Analysis ....................................................................................................................................................... 3 Valuation ................................................................................................................................................................ 4 Risk Analysis (Beta) ....................................................................
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Working Capital Management Strategies for Improving Working Capital Management by Dorothy Rule‚ Director and Global Head of Liquidity and Investments‚ Citigroup Global Transaction Services n 2004‚ treasurers worldwide continue to strive to manage working capital more efficiently. They are under pressure to reduce Days Sales Outstanding‚ to measure Days Payable Outstanding‚ and to find alternatives for enhancing yield management due to record low interest rates. Other factors are impacting corporate
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Case Study Analysis Paper Prepare a 1‚400 to 1‚750-word case study analysis paper based on the University of Phoenix Material‚ “Case Study for Student Analysis‚” located in Week Two of the COMM/215 [pic] page. Below is a detailed description explaining how to prepare a case study analysis paper. ____________________________________________________________ _________________ Typically written in narrative form‚ a case sets forth‚ in a factual manner‚ the events and organizational circumstances
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June 4‚ 2008 Case Study Analysis Summary The definition of a case study analysis is an integral part of a course in strategic management. It is used to teach students about the problems that real businesses deal with regularly. Case studies gives a detailed summary of what happened to businesses or industries over periods of time. They are extremely valuable for students because they present situations to students that they have not yet been able to experience. Cases also show theory
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Case Analysis of Nike‚ Inc.: Cost of Capital Apparently‚ the issue of Nike’s case is to control and check the calculation cost of capital done by Joanna Cohen who is the assistant of a portfolio manager at NorthPoint Group. But I am willing to tell you that it can be a complex case in which we can doubt about sensitivity analysis done by Kimi Ford (portfolio manager) because her assumptions such as Revenue Growth Rate‚ COGS / Sales‚ S &A / Sales‚ Current Assets / Sales‚ and Current Liability
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