PPT-Current Equity Market Structure Issues

Presented by Jerry Citera Managing Director Associate General Counsel JP Morgan Chase amp Co September 2016 Outline of Presentation 1 Introduction Basic Concepts in Equity Market Structure. 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!. ”. to Breweries: Trapezium Brewing. Waukeshaw Development, INC.. May 20, 2015. INTRODUCTION. At the end of 2015, Waukeshaw will have attracted more than $75M to historic redevelopment projects in Virginia and North Carolina.. to Breweries: Trapezium Brewing. Waukeshaw Development, INC.. May 20, 2015. INTRODUCTION. At the end of 2015, Waukeshaw will have attracted more than $75M to historic redevelopment projects in Virginia and North Carolina.. 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!. ”. Chapter 13.1. Market Structure. Market structure: establishes the overall environment within which each firm operates. .. Number and size distribution of buyers and sellers. Type of product for sale. Presented by Dr. Monika Aggarwal. . Post Graduate Govt. College, CHD. 1. Objectives of the Study. Understand the theories of the . relationship. . between capital structure and the value of the firm. Are high yield spreads a canary in the coal mine or simply noise?. Andrew Fisher. Do High Yield spreads accurately predict future Equity market Volatility?. Recent market commentary by a variety of market experts has emphasized the risks of recession indicated by widening high yield spreads . Market structure – identifies how a market . is made up in terms of:. The number of firms in the industry. The nature of the product produced. The degree of monopoly power each firm has. The degree to which the firm can influence price. 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 RESTRUCTURING TROUBLED PARTNERSHIPS AND CORPORATIONS Tax Group Bracewell LLP 2016 2 TOPICS • Cancellation of Indebtedness Income • Partnership Debt for Equity Exchange ‒ Consequences to the Patricia M Dechow The Carleton H Griffin Deloitte Touche LLP Collegiate Professor of Accounting Richard G Sloan Michigan Business School Mark T Soliman PhD Candidate University of Michigan Business (. Eun. and . Resnick. chapter 13). Developed vs Emerging Markets. Factors that are used to classify the world’s financial markets . in developed and emerging markets:. the size and scope of the equity, fixed income and derivatives markets. Value . Measures. Return on Invested Capital. Economic Value Added. Market Value Added. Cash Flow Return On Investment. Cash Value Added. Market – to – Capital Ratio. Total Shareholders’ Return. Paul D. Mitchell. Goal. How to construct and interpret . common . Financial Ratios for Liquidity and Solvency. Present typical . ratio values . by farm . type. Current Ratio and . Debt:Asset. Suggestions for where .