Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | German |
| Veröffentlicht: |
Wiesbaden
VS Verlag für Sozialwissenschaften
1978
|
| Schriftenreihe: | Rheinisch-Westfälischen Akademie der Wissenschaften Natur-, Ingenieur- und Wirtschaftswissenschaften
Vorträge N ; 276 |
| Schlagworte: | |
| Online-Zugang: | FLA01 FHN01 Volltext |
| Beschreibung: | The paper deals with the problem, how the profits of a firm are influenced by inflation; some conclusions are drawn for the firm's investment and financing policy. Profit is defined as the part of cash flow which may be distributed to owners without impairing the firm's real capital. For a firm with a positive profit stream under constant prices it is shown that inflation may cause negative profits, even if all prices rise with the same rate. This means that it is not sufficient for the preservation of real capital if rises in factor prices result in proportional rises of sales prices. This ist due to two effects: The first effect is caused by the necessity to hold cash and other monetary assets for current transactions; the growth of these assets, which is roughly proportional to the price level, has to be financed out of the cash flow thus reducing profit. The second effect is due to taxation; accounting profits are calculated on the basis of historical prices for inventories and depreciation. Financial planning must take into consideration the effects of inflation and try to find counter-strategies. Further the analysis permits some conclusions on the value of the firm and the rate of return on shares. It is shown, that the rate of return on shares will be higher than the rate of inflation (i. e |
| Beschreibung: | 1 Online-Ressource (60S.) |
| ISBN: | 9783322864321 9783531082769 |
| DOI: | 10.1007/978-3-322-86432-1 |
Internformat
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| 245 | 1 | 0 | |a Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe |
| 264 | 1 | |a Wiesbaden |b VS Verlag für Sozialwissenschaften |c 1978 | |
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| 490 | 1 | |a Rheinisch-Westfälischen Akademie der Wissenschaften Natur-, Ingenieur- und Wirtschaftswissenschaften : Vorträge N |v 276 | |
| 500 | |a The paper deals with the problem, how the profits of a firm are influenced by inflation; some conclusions are drawn for the firm's investment and financing policy. Profit is defined as the part of cash flow which may be distributed to owners without impairing the firm's real capital. For a firm with a positive profit stream under constant prices it is shown that inflation may cause negative profits, even if all prices rise with the same rate. This means that it is not sufficient for the preservation of real capital if rises in factor prices result in proportional rises of sales prices. This ist due to two effects: The first effect is caused by the necessity to hold cash and other monetary assets for current transactions; the growth of these assets, which is roughly proportional to the price level, has to be financed out of the cash flow thus reducing profit. The second effect is due to taxation; accounting profits are calculated on the basis of historical prices for inventories and depreciation. Financial planning must take into consideration the effects of inflation and try to find counter-strategies. Further the analysis permits some conclusions on the value of the firm and the rate of return on shares. It is shown, that the rate of return on shares will be higher than the rate of inflation (i. e | ||
| 650 | 4 | |a Economics | |
| 650 | 4 | |a Economics/Management Science | |
| 650 | 4 | |a Economics/Management Science, general | |
| 650 | 4 | |a Management | |
| 650 | 4 | |a Wirtschaft | |
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| 249 | |a Finanzwirtschaftliche Planung in der Unternehmung bei Geldentwertung |v Herbert Hax | ||
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Datensatz im Suchindex
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| author | Fels, Gerhard 1939- |
| author_GND | (DE-588)121510670 |
| author_facet | Fels, Gerhard 1939- |
| author_role | aut |
| author_sort | Fels, Gerhard 1939- |
| author_variant | g f gf |
| building | Verbundindex |
| bvnumber | BV042457638 |
| collection | ZDB-2-SGR ZDB-2-BAD ZDB-2-SWI |
| ctrlnum | (OCoLC)915600763 (DE-599)BVBBV042457638 |
| dewey-full | 330 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 330 - Economics |
| dewey-raw | 330 |
| dewey-search | 330 |
| dewey-sort | 3330 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1007/978-3-322-86432-1 |
| format | Electronic eBook |
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| id | DE-604.BV042457638 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T01:22:17Z |
| institution | BVB |
| isbn | 9783322864321 9783531082769 |
| language | German |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-027892845 |
| oclc_num | 915600763 |
| open_access_boolean | |
| owner | DE-634 DE-860 DE-706 DE-92 |
| owner_facet | DE-634 DE-860 DE-706 DE-92 |
| physical | 1 Online-Ressource (60S.) |
| psigel | ZDB-2-SGR ZDB-2-BAD ZDB-2-SWI ZDB-2-SGR_Archive ZDB-2-SWI_1844/1989 ZDB-2-SWI_Archive |
| publishDate | 1978 |
| publishDateSearch | 1978 |
| publishDateSort | 1978 |
| publisher | VS Verlag für Sozialwissenschaften |
| record_format | marc |
| series | Rheinisch-Westfälischen Akademie der Wissenschaften Natur-, Ingenieur- und Wirtschaftswissenschaften |
| series2 | Rheinisch-Westfälischen Akademie der Wissenschaften Natur-, Ingenieur- und Wirtschaftswissenschaften : Vorträge N |
| spelling | Fels, Gerhard 1939- Verfasser (DE-588)121510670 aut Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe Wiesbaden VS Verlag für Sozialwissenschaften 1978 1 Online-Ressource (60S.) txt rdacontent c rdamedia cr rdacarrier Rheinisch-Westfälischen Akademie der Wissenschaften Natur-, Ingenieur- und Wirtschaftswissenschaften : Vorträge N 276 The paper deals with the problem, how the profits of a firm are influenced by inflation; some conclusions are drawn for the firm's investment and financing policy. Profit is defined as the part of cash flow which may be distributed to owners without impairing the firm's real capital. For a firm with a positive profit stream under constant prices it is shown that inflation may cause negative profits, even if all prices rise with the same rate. This means that it is not sufficient for the preservation of real capital if rises in factor prices result in proportional rises of sales prices. This ist due to two effects: The first effect is caused by the necessity to hold cash and other monetary assets for current transactions; the growth of these assets, which is roughly proportional to the price level, has to be financed out of the cash flow thus reducing profit. The second effect is due to taxation; accounting profits are calculated on the basis of historical prices for inventories and depreciation. Financial planning must take into consideration the effects of inflation and try to find counter-strategies. Further the analysis permits some conclusions on the value of the firm and the rate of return on shares. It is shown, that the rate of return on shares will be higher than the rate of inflation (i. e Economics Economics/Management Science Economics/Management Science, general Management Wirtschaft Rheinisch-Westfälischen Akademie der Wissenschaften Natur-, Ingenieur- und Wirtschaftswissenschaften Vorträge N ; 276 (DE-604)BV044200803 276 https://doi.org/10.1007/978-3-322-86432-1 Verlag Volltext Finanzwirtschaftliche Planung in der Unternehmung bei Geldentwertung Herbert Hax |
| spellingShingle | Fels, Gerhard 1939- Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe Rheinisch-Westfälischen Akademie der Wissenschaften Natur-, Ingenieur- und Wirtschaftswissenschaften Economics Economics/Management Science Economics/Management Science, general Management Wirtschaft |
| title | Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe |
| title_auth | Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe |
| title_exact_search | Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe |
| title_full | Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe |
| title_fullStr | Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe |
| title_full_unstemmed | Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe |
| title_short | Wiederbelebung der privaten Investitionstätigkeit als wirtschaftspolitische Aufgabe |
| title_sort | wiederbelebung der privaten investitionstatigkeit als wirtschaftspolitische aufgabe |
| topic | Economics Economics/Management Science Economics/Management Science, general Management Wirtschaft |
| topic_facet | Economics Economics/Management Science Economics/Management Science, general Management Wirtschaft |
| url | https://doi.org/10.1007/978-3-322-86432-1 |
| volume_link | (DE-604)BV044200803 |
| work_keys_str_mv | AT felsgerhard wiederbelebungderprivateninvestitionstatigkeitalswirtschaftspolitischeaufgabe |