MM with capital structure In 1958‚ Modigliani and Merton Miller in their classical paper “The Cost of Capital‚ Corporation Finance and the Theory of Investment”‚ talked something about capital structure as follow: Consider any company j and let Xj stand as before for the expected return on the assets owned by the company (that is‚ its expected profit before deduction of interest). Denote by Di the market value of the debts of the company; by Sj the market value of its common shares; and by V j
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by the way of some mix and match of Equity‚ Debt or Hybrid Securities. The modern thinking on capital structure is based on the Modigliani-Miller theorem given by Franco Modigliani and Merton Miller. The theorem suggests that in a perfect market the total value of the company remains the same depending upon how is that company financed. This theorem proves the importance of capital structuring by the firms throughout the globe. There are other reasons as well like bankruptcy costs‚ agency costs
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Retrieved August 23‚ 2011‚ from MorningStarNews.Com: http://news.morningstar.com/articlenet/article.aspx?id=84699&_QSBPA=Y Kent‚ M MacMinn‚ R. (2011). Theorems in Corporate Finance . Retrieved August 23‚ 2011‚ from MacMinn.ORG: http://macminn.org/Fin374/theorems/theorems.html The Coca Cola Company Villamil‚ A. P. (2010‚ March 10). The Modigliani-Miller Theorem. Retrieved August 9‚ 2011‚ from Econometrics at the University of Illinois: http://www.econ.uiuc.edu/~avillami/course-files/PalgraveRev_ModiglianiMiller_Villamil
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Capital market Of Bangladesh: Capital market is a market for securities (debt or equity)‚ where business enterprises (companies) and governments can raise long-term funds. The capital market includes the stock market (equity securities) and the bond market (debt). Bangladesh capital market is one of the smallest in Asia but the third largest in the south Asia region. It has two full-fledged automated stock exchanges namely - Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). It also
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Women in Mathematics Every human is created with a gift of some sort. Whether it is an athletic ability‚ a wonderful singing voice‚ or an ability to relate to other individuals‚ every one has a special gifting. For many women in history‚ their ability was deciphering and understanding the intricacies of math. Although various cultures discouraged women mathematicians‚ these women were able to re-define the standards for women in this field of study. Hypatia of Alexandria was born in Roman Egypt
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Y.J. Wang S.Y. Huang J. Electrical Systems x-x (2010): x-xx JES Journal of Electrical Systems Regular paper Determination of the Performance Extreme Values of a Three-phase Induction Machine Using Algebraic and Graphical Methods This paper proposes an algebraic and a graphical method for finding all the performance extreme values of a three-phase induction machine when it operates as a motor or a generator. The performance extreme include maximum efficiency‚ maximum power factor‚ maximum
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Pierre Fermat’s father was a wealthy leather merchant and second consul of Beaumont- de- Lomagne. Pierre had a brother and two sisters and was almost certainly brought up in the town of his birth. Although there is little evidence concerning his school education it must have been at the local Franciscan monastery. He attended the University of Toulouse before moving to Bordeaux in the second half of the 1620s. In Bordeaux he began his first serious mathematical researches and in 1629 he gave a
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Normal Distribution It is important because of Central Limit Theorem (CTL)‚ the CTL said that Sum up a lot of i.i.d random variables the shape of the distribution will looks like Normal. Normal P.D.F Now we want to find c This integral has been proved that it cannot have close form solution. However‚ someone gives an idea that looks stupid but actually very brilliant by multiply two of them. reminds the function of circle which we can replace them to polar coordinate Thus Mean
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5/3/2011 Lecture 1 LECTURE 1 TOPICS I. Product of Inertia for An Area Definition Parallel Axis Theorem on Product of Inertia Moments of Inertia About an Inclined Axes Principal Moments of Inertia Mohr’s Circle for Second Moment of Areas II. Unsymmetrical Bending II Unsymmetrical Bending Unsymmetrical Bending about the Horizontal and Vertical Axes of the Cross Section Unsymmetrical Bending about the Principal Axes 1 5/3/2011 Lecture 1‚ Part 1 Product of Inertia for an Area
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two major branches‚ differential calculus (concerning rates of change and slopes of curves)‚ and integralcalculus (concerning accumulation of quantities and the areas under curves); these two branches are related to each other by the fundamental theorem of calculus. Both branches make use of the fundamental notions of convergence of infinite sequences and infinite series to a well-definedlimit. Calculus has widespread uses in science‚ economics‚ and engineering and can solve many problems that algebra alone
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