THE JOURNAL OF FINANCE • VOL. LIII‚ NO. 4 • AUGUST 1998 Agency Costs‚ Risk Management‚ and Capital Structure HAYNE E. LELAND* ABSTRACT The joint determination of capital structure and investment risk is examined. Optimal capital structure ref lects both the tax advantages of debt less default costs ~Modigliani and Miller ~1958‚ 1963!!‚ and the agency costs resulting from asset substitution ~Jensen and Meckling ~1976!!. Agency costs restrict leverage and debt maturity and increase yield
Premium Capital structure Corporate finance Debt
TITLE: IMPLICATIONS OF INTELLECTUAL CAPITAL ON HUMAN RESOURCES MANAGEMENT TABLE OF CONTENTS 1. Introduction pg 3 2. Elements of Intellectual Capital pg. 3 3. Preserving Intellectual Capital pg. 4 4. The Importance Of Implementing Intellectual Capital Processes pg. 4-5 5. The Value Factor
Premium Human resource management Human resources
FINANCIAL MANAGEMENT: CAPITAL BUDGETING MINI CASE 1 CAPITAL BUDGETING (MINI CASE) QUESTION A What is capital budgeting? Solution: Capital budgeting is a required managerial tool. One duty of a financial manager is to choose investments with satisfactory cash flows and rates of return. Therefore‚ a financial manager must be able to decide whether an investment is worth undertaking and be able to choose intelligently between two or more alternatives. To do this‚ a sound procedure to evaluate
Premium Net present value Internal rate of return
CONTENTS PREFACE ACKNOWLEDGEMENT BOARD OF DIRECTORS ORGANIZATION CHART OF BPCL INTRODUCTION OF COMPANY CUSTOMER OF BPCL PRODUCT PROFILE QUALITY ASSUARANCE SWOT ANALYSIS STRATEGY FORMULATION MARKETING STRATEGY MANAGEMENT PROBLEM SEGMENTATION RECOMMENDATION PERFORMANCE HIGHLIGHT FINANCIAL AND PHYSICAL PERFORMANCE REPORT CONCLUSION CERTIFICATE OF APPRECIATION BIBLIOGRAPHY PREFACE The instrument of government owing property is
Premium Petroleum Compressed natural gas Marketing
CASH HOLDINGS‚ WORKING CAPITAL AND FIRM VALUE: EVIDENCE FROM FRANCE Ruta AUTUKAITE* – Eric MOLAY** Abstract: Although companies deal with day-to-day short term financial decisions‚ in corporate finance the emphasis is being put on long term financial issues when talking about company’s value. In this paper a sample of French listed companies was chosen to assess the importance of short term financial decisions to company’s value by testing the following hypotheses: an extra euro invested in cash
Premium Working capital Corporate finance Finance
quality; Working Capital Adequacy‚ Asset Performance and Capital Structure. Let us consider Working Capital Adequacy‚ to evaluate the investment quality of a business organization. WORKING CAPITAL; Working capital may be regarded as lifeline of a business. It provides the ability to fund business operations‚ reinvest and meet capital requirements and payments. Understanding a business’s working capital health is essential to make investment decisions. A good way to judge a company’s working capital
Premium Asset Inventory Generally Accepted Accounting Principles
2010:123) Right work space: The workplace has an important impact that on talent planning‚ as the environment is productivity. By reconfiguring the space where people work we are able to get better efficiency on bigger group at lower costs. For example‚ Capital
Premium Human resource management Recruitment Management
Unions and Management Working Together Stephanie A. Pilgere BUS 372 Employee and Labor Relations Tika Dave March 17‚ 2014 Unions and Management Working Together Introduction Unions and organizations have had a disagreeable relationship from the very beginning; which dates back to the mid 1800s when unionization started. The reason being‚ they both had very different beliefs and perspectives on laborers‚ working conditions and benefits. In this paper‚ we will briefly discuss the start of unionization
Premium Trade union Employment Collective bargaining
EAST TENNESSEE STATE UNIVERSITY DEPARTMENT OF SOCIAL WORK ACADEMIC PERFORMANCE REVIEW Guidelines for Retention and Termination Adopted by Social Work Department‚ 11/3/04 Final Revision: November‚ 2006 Social work education serves the function of assuring that competent persons enter the social work profession‚ and ETSU’s Department of Social Work is committed to ensuring that students from our program are well-suited for the professional demands‚ roles‚ and responsibilities of social
Premium Social work International Federation of Social Workers Sociology
Effects of Working Hours on Health Status and Health Behaviors Mar´ In´s Berniell∗ ıa e CEMFI - UIMP March‚ 2012 Abstract This study measures the effect of the amount of working hours on workers’ health status and health behaviors. To deal with the endogeneity of the number of hours worked I use a quasi-experiment: the change in the legal maximum workweek hours in France enacted in 1998. The estimated effects‚ while moderate‚ are all consistent with the idea that less working hours improves
Premium Working time