The capital structure paradigm: evolution of debt/equity choices
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Westport, Conn. [u.a.]
Praeger
2003
|
| Ausgabe: | 1. publ. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XIV, 237 S. graph. Darst. |
| ISBN: | 1567206166 |
Internformat
MARC
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| 264 | 1 | |a Westport, Conn. [u.a.] |b Praeger |c 2003 | |
| 300 | |a XIV, 237 S. |b graph. Darst. | ||
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| 650 | 4 | |a Debt-to-equity ratio | |
| 650 | 4 | |a Capital | |
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| 650 | 0 | 7 | |a Kapitalstruktur |0 (DE-588)4125993-2 |2 gnd |9 rswk-swf |
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| 689 | 0 | 3 | |a Eigenkapitalquote |0 (DE-588)4125998-1 |D s |
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| 700 | 1 | |a Seetharaman, Ananth |e Verfasser |4 aut | |
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Datensatz im Suchindex
| _version_ | 1804143346954797056 |
|---|---|
| adam_text | Contents
Preface xi
Central Tenet: The analysis of paradigm shifts provides a
worthwhile means of thinking about capital structure
decision making.
1. Introduction 1
Central Tenet: Why then do economists keep trying to
develop models that assume rational behavior by firms?
—Merton Miller (1977)
2. Foundations—Is the Debt/Equity Decision Irrelevant? 13
Central Tenet: Under MM (1958) assumptions including no
taxes, the debt/equity decision is irrelevant.
3. Impact of Corporate Tax 29
Central Tenet: With corporate taxes and no personal taxes,
the optimum debt level shifts to 100 percent.
4. The Modifying Impact of Personal Taxes on Investors 43
Central Tenet: With corporate and personal taxes, the
optimum debt level shifts to one of two extremes—
vi Contents
either 0 or 100 percent—but non-debt tax shields
can move it to an interior optimum point.
5. Bankruptcy Cost s Effect 67
Central Tenet: With bankruptcy cost and taxes, the optimal
debt-to-equity ratio will be at an interior point, not at
an extreme point.
6. Effect of Agency Costs 93
Central Tenet: With agency costs, bankruptcy costs, and
taxes, the relationships become more complicated and
the proportion of equity in the optimal capital structure
increases.
7. Signaling 111
Central Tenet: With signaling, agency costs, bankruptcy
costs, and taxes, the relationships become contingent on
the full set of firm characteristics.
8. Capital Structure as One of Many Simultaneously
Determined Variables 129
Central Tenet: The firm is a nexus of contracts. Capital
structure decisions are made simultaneously with
other decisions that can be solved by simultaneous
equations to compute maximum firm value.
9. Executive Survey Interview Information 145
Central Tenet: The current practice of capital structure
decision making has considerable variation.
10. Current State of Research Frontier and Opportunities 155
Central Tenet: The current state of research still leaves
many questions unanswered.
11. Summary and Conclusions 181
Central Tenet: The major capital structure decision
factors are known, but the complexity remains largely
unresolved.
Appendixes
1. Does the Spread between the Cost of Debt and Equity Provide
Incremental Information to Earnings-Returns Relations? 183
Zone Swanson and John N. Kissinger
2. Analytical Agency Model of Debt/Equity Tradeoff 209
3. Leverage Information for Stocks during a Deleveraging
Period 213
Zane Swanson
Contents vii
4. Interview Questions 225
Index 231
|
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| id | DE-604.BV036705131 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T22:46:13Z |
| institution | BVB |
| isbn | 1567206166 |
| language | English |
| lccn | 2003058006 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-020623467 |
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| physical | XIV, 237 S. graph. Darst. |
| publishDate | 2003 |
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| spelling | Swanson, Zane Verfasser aut The capital structure paradigm evolution of debt/equity choices Zane Swanson, Bin Srinidhi, and Ananth Seetharaman 1. publ. Westport, Conn. [u.a.] Praeger 2003 XIV, 237 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Corporations Finance Debt-to-equity ratio Capital Unternehmen (DE-588)4061963-1 gnd rswk-swf Kapitalstruktur (DE-588)4125993-2 gnd rswk-swf Finanzierungstheorie (DE-588)4154418-3 gnd rswk-swf Eigenkapitalquote (DE-588)4125998-1 gnd rswk-swf Unternehmen (DE-588)4061963-1 s Kapitalstruktur (DE-588)4125993-2 s Finanzierungstheorie (DE-588)4154418-3 s Eigenkapitalquote (DE-588)4125998-1 s b DE-604 Srinidhi, Bindiganavale N. Verfasser aut Seetharaman, Ananth Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020623467&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Swanson, Zane Srinidhi, Bindiganavale N. Seetharaman, Ananth The capital structure paradigm evolution of debt/equity choices Corporations Finance Debt-to-equity ratio Capital Unternehmen (DE-588)4061963-1 gnd Kapitalstruktur (DE-588)4125993-2 gnd Finanzierungstheorie (DE-588)4154418-3 gnd Eigenkapitalquote (DE-588)4125998-1 gnd |
| subject_GND | (DE-588)4061963-1 (DE-588)4125993-2 (DE-588)4154418-3 (DE-588)4125998-1 |
| title | The capital structure paradigm evolution of debt/equity choices |
| title_auth | The capital structure paradigm evolution of debt/equity choices |
| title_exact_search | The capital structure paradigm evolution of debt/equity choices |
| title_full | The capital structure paradigm evolution of debt/equity choices Zane Swanson, Bin Srinidhi, and Ananth Seetharaman |
| title_fullStr | The capital structure paradigm evolution of debt/equity choices Zane Swanson, Bin Srinidhi, and Ananth Seetharaman |
| title_full_unstemmed | The capital structure paradigm evolution of debt/equity choices Zane Swanson, Bin Srinidhi, and Ananth Seetharaman |
| title_short | The capital structure paradigm |
| title_sort | the capital structure paradigm evolution of debt equity choices |
| title_sub | evolution of debt/equity choices |
| topic | Corporations Finance Debt-to-equity ratio Capital Unternehmen (DE-588)4061963-1 gnd Kapitalstruktur (DE-588)4125993-2 gnd Finanzierungstheorie (DE-588)4154418-3 gnd Eigenkapitalquote (DE-588)4125998-1 gnd |
| topic_facet | Corporations Finance Debt-to-equity ratio Capital Unternehmen Kapitalstruktur Finanzierungstheorie Eigenkapitalquote |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020623467&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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