capital structure

This thesis examines the relationship between growth status and the cross-section of corporate capital structure. First, I propose initial growth status, a concept based on a two-way sort on firms’ market-to-book and asset tangibility in early years after IPO, not only captures the cross-sectional variations in leverage ratios, but also ...

Introduction : In order for every company to grow and expand the business they have to invest money in different assets such as personnel, machinery and buildings. These investments are often combined with high costs and the cash-flows generated from previous years are rarely enough to finance all the investments ...

This thesis contains two essays on the study of capital structure in Chinese stock market. The first essay tries to prove the validity of the newly-built market timing theory in Chinese stock market. ‘Market timing’ refers the practice to issue equity at high price and to repurchase at low price. ...

The theoretical framework includes the corporate capital structure theories and modern research work in this field. Hypotheses are formulated on the basis of theoretical background. Methodology: Regression model is used to analyze the data taken from Pakistani firms in energy sector, listed on Karachi Stock Exchange, during the period 2001-2005. Conclusion: Financing ...

Substantial parts of the literature concerning capital structure have dealt with issues regarding the leverage ratios. These leverage ratios have been analyzed in all kinds of ways, where most studies have explained observed patterns. Our research will also deal with leverage ratios but in an entirely new way. Our problem ...

The primary aim of financial management is to maximise the wealth of shareholders. Shareholders are interested in wealth maximisation which depends upon the market price of the shares. If the market price of the shares increases, there is appreciation in the shareholders' wealth and vice versa. Thus the major goal ...