PPT-Chapter 16 Financial Leverage and Capital Structure Policy

What is meant by capital restructuring What is the primary goal of financial managers Can leverage help in achieving such goals Capital Restructuring Capital Restructuring We are going to look at how changes in capital structure affect the value of the firm . And 57375en 57375ere Were None meets the standard for Range of Reading and Level of Text Complexity for grade 8 Its structure pacing and universal appeal make it an appropriate reading choice for reluctant readers 57375e book also o57373ers students 21. 21. .1. . Explain how business and financial risk affect a firm’s ROE and EPS and identify the financial break-even points.. 21. .2. . Identify the factors that influence capital structure.. 21. Capital budgeting considering risk and leverage. Introduction. Today we will discuss three approaches to valuing a . risky. asset for which both . debt and equity financing. are used.. Initial Simplifying Assumptions:. Global Financial Management. Campbell R. Harvey. Fuqua School of Business. Duke University. charvey@mail.duke.edu. http://www.duke.edu/~charvey. Overview. “. Capital Structure does not matter!. ”. Corporate Finance 36. Capital structure: further considerations. Capital structure in a world with tax. Financial distress. Agency costs. Borrowing capacity. Managerial preferences. Pecking order. Financial slack. Sections. Cost of capital. Segmentation vs. integration. Differential costs of capital. Cross-border share listing . Foreign equity ownership restrictions. Subsidiaries’ capital structure. Cost of capital. Leverage diartikan sebagai penggunaan assets atau dana dengan beban tetap atau membayar beban tetap. . Operating leverage : ditentukan oleh hubungan antara sales revenue (penerimaan dari penjualan) yang diperoleh perusahaan dengan laba sebelum bunga dan sebelum pajak(EBIT).. ACEC of Indiana. Annual Environmental Business & Funding Sources Conference. September 12, 2017. Presentation Outline. Bond market update. Financial planning for capital needs. State-wide rate comparison information. Stock Market crashes. Zhiguo He. Professor of Finance. University of Chicago, Booth School of Business; and NBER. Joint with . Jiangze. . Bian. ,. Kelly Shue, and . Hao. . Zhou. Excessive Leverage and fire sales are considered to be the underlying mechanism of many crises in financial markets. ACEC of Indiana. Annual Environmental Business & Funding Sources Conference. September 12, 2017. Presentation Outline. Bond market update. Financial planning for capital needs. State-wide rate comparison information. Chapter 18. outline. T. arget . leverage ratio. Southwest:. Fixed . versus Random levels of Debt. The WACC method. Avco. Industries. Project valuation using WACC . The . WACC/APV . link. Project . based . Capital Structure in a Perfect Market Chapter 14 outline Equity and or debt financing Return on levered equity Modigliani-Miller theorems: MM1: firm value not affected MM2: expected returns are affected Free to share, print, make copies and changes. Get yours at . www.boundless.com. Available on the Boundless Teaching Platform. Using Boundless Presentations. The Appendix. The appendix is for you to use to add depth and breadth to your lectures. You can simply drag and drop slides from the appendix into the main presentation to make for a richer lecture experience.. Capital budgeting considering risk and leverage. Introduction. Today we will discuss three approaches to valuing a . risky. asset for which both . debt and equity financing. are used.. Initial Simplifying Assumptions:.