Capital Structure Decisions: Which Factors Are Reliably Important? Murray Z. Frank and Vidhan K. Goyal∗ This paper examines the relative importance of many factors in the capital structure decisions of publicly traded American firms from 1950 to 2003. The most reliable factors for explaining market leverage are: median industry leverage (+ effect on leverage)‚ market-to-book assets ratio (−)‚ tangibility (+)‚ profits (−)‚ log of assets (+)‚ and expected inflation (+). In addition‚ we find
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What is meant by a positive environment? What is meant by a positive environment is a happy place. A happy environment is a setting that has structure and routine so that children can rely on a secure environment. Always looking at the positive in everything that children do can help them to be more confident. A positive environment can also help to stimulate children and in affect make the children want to learn more. There are regulatory requirements that underpin a positive environment for
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Assignment 1.1 Explain what is meant by: Diversity‚ Equality and inclusion Equality means that every human being is to be treated in the same way and once cannot differentiate between people‚ being cause of their faith‚ sexuality‚ nationality‚ gender or age. Everyone is to be treated fairly and equally. Each person has the right to be treated with respect and has the right to participate with others. Equality though does not mean identical treatment. To make each human being equally successful
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Discuss what is meant by sustainable competitive advantage Sustainable competitive is what all the companies want to gain it and maintain it‚ it can let the company to keep the position of market leadership and let the company be successful. Evans et al. (2003‚ p.225) states that “no advantage is sustainable for ever‚ as competitors will seek to imitate it. “It has told that a sustainable competitive advantage it should be unique and can’t be copy easily by the competitors‚ also Evans et
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Capital Structure‚ Profitability and Market Structure: Evidence from Textile Industries in Bangladesh. Introduction In corporate finance‚ the academic contribution of Modigliani and Miller (1958‚ 1963) about capital structure irrelevance and the tax shield advantage paved the way for the development of alternative theories and a series of empirical research initiatives on capital structure. The alternative theories include the trade-off theory‚ the pecking order/asymmetric information theory
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order to maximize profit. What is the max profit? c) What is the ratio revenue to cost Q(x) =R(x)C(x) at the optimal announcement time found in part(b). What respond when x-> 0. Interpret the result. 3/ A manufacturer can produce digital recorders at a cost of $50 apiece. It is estimated that if the recorders are sold for p dollars apiece consumers with buy q = 120 – p recorders each month. a) Express the manufacturers profit P as a function of q. b) What is the average rate of profit
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1) FIRM OBJECTIVES: The standard economic assumption underlying the analysis of firms is profit maximization. Real world firms‚ however‚ might not‚ and many times do not‚ make decisions based on the profit-maximization objective‚ or at least exclusively on the profit-maximization objective. Other objectives include: (1) sales maximization‚ (2) pursuit of personal welfare‚ and (3) pursuit of social welfare. Although firms are assumed to make decisions that increase profit in standard economic
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Creating efficient frontiers using excel. Suppose we have 3 risky assets whose net return has the mean vector and variancecovariance matrix given below: Asset Mean VarianceCovariance Matrix 1 2 3 0.06 0.12 0.03 1 0.3 0.3 0.3 1 0.3 0.3 0.3 1 Weights Ones Mean Portfolio Return 1 1 1 0.176666122 Portfolio Portfolio Portfolio Variance STD Constraint 2.42961 1.558721 1 0.079372 1.603166 -0.68254 To model the portfolio choice problem‚ I begin by highlighting the mean vector and giving
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decision making process? What is the decision making process for Metabical? 1. Who is involved in the decision making process? What is the decision making process for Metabical? 2. How should Printup think about the segmentation of potential Metabical consumers?Who is the optimal target consumer? 3. How should CSP identify and employ the differential advantages that Metabical offers to position itself in the marketplace? 4. Given the position strategy you chose‚ what would be your communications
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v Describe what Montessori meant by’ New Education’ Dr. Maria Montessori is the creator for the Montessori Education Method for a new world who devoted her life to improve children’s education excellence. Her educational method is widely used in schools or at home for children 3 t0 6 years old. Maria Montessori lived through one of the traumatic time eras of the world history‚ which changed everybody’s lives including children. It was the time of anxiety‚ cruelty‚ death‚ family separation and
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