This presentation is an overview of Capital Structure Theories.
Dr. Soheli Ghose ( Ph.D (University of Calcutta), M.Phil, M.Com, M.B.A., NET (JRF), B. Ed).
Assistant Professor, Department of Commerce,St. Xavier's College, Kolkata.
Guest Faculty, M.B.A. Finance, University of Calcutta, Kolkata
This presentation is an overview of Capital Structure Theories.
Dr. Soheli Ghose ( Ph.D (University of Calcutta), M.Phil, M.Com, M.B.A., NET (JRF), B. Ed).
Assistant Professor, Department of Commerce,St. Xavier's College, Kolkata.
Guest Faculty, M.B.A. Finance, University of Calcutta, Kolkata
VENTURECAPITAL FINANCING
- By Dr. Ratna Sinha, Associate Professor, ISBR Business School, Bangalore
Venture capital funding is one of the important options for entrepreneurs to secure funding. Venture capital (VC) means risk capital. The risk envisaged may be very high or may be so high as to result in total loss or very less so as to result in high gains. This 35 slides power point presentation on Venture Capital Financing explains how the Venture Capital Funds are organized. The other objectives of the presentation intended to provide students with the terminology of VC and knowledge of the key industry facts. This presentation help to understand types of venture capital funds, mode of operations and industry- standard technique for the valuation of VC investments.
VENTURECAPITAL FINANCING
- By Dr. Ratna Sinha, Associate Professor, ISBR Business School, Bangalore
Venture capital funding is one of the important options for entrepreneurs to secure funding. Venture capital (VC) means risk capital. The risk envisaged may be very high or may be so high as to result in total loss or very less so as to result in high gains. This 35 slides power point presentation on Venture Capital Financing explains how the Venture Capital Funds are organized. The other objectives of the presentation intended to provide students with the terminology of VC and knowledge of the key industry facts. This presentation help to understand types of venture capital funds, mode of operations and industry- standard technique for the valuation of VC investments.
Corporate Finance – A Study On Idea CellularSarang Bhutada
A Corporate Finance Perspective on Idea Cellular, a listed company in India (IDEA) by traditional methods like leverage analysis, EBIT-EPS Analysis, Dividend Policy Analysis and Alternate Funding Policy Analysis
The effects of tax shelters on debt policy zeynZeynullah Gider
This paper examines the impact of subsidiaries in tax shelters and determines whether it effects a firms’ debt policy. A comparison is done on firms with and without subsidiaries in tax shelters. The study will take a closer look at each company and find the breakpoint where the firm begins to utilize subsidiaries in tax shelters.
This presentation covers the key learning & insights of the renowned OTA goibibo.com. This presentation was made during SIP program & was considered for best Summer Internship Report during final evaluation.
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The white paper presents easiest way to understand the mode of choosing a capital structure of Debt versus Equity.
It also talks on the numerical implications of Leverage and Returns. I hope it will be helpful for students, novices and capital markets professionals !
Optimization Of Capital Structure Of Firm To Improve Profitability Complete DeckSlideTeam
This template will help the organization in optimizing debt ratio to maximize firm value and reducing cost of capital. The current scenario of firm depicts various sources of capital funding such as debt, equity capital, etc. The firms capital structure is analyzed on the basis of debt equity ratio, WACC, cost of equity and debt, present debt and equity pattern, etc. The debt equity ratio of the firm determines that firm is aggressively financed through debt which puts the firm in potential risk of financial distress or bankruptcy. The Chief Financial Officer will present this template to higher level management. The over levered firm will search different ways to shift to optimal debt ratio at minimum cost of capital by estimating optimal debt ratio on different rates with respect to cost of capital and firm value. The firm can alter its financial mix through ways such as equity recapitalization, divestiture and use of proceeds, new investment financing. The firm will raise capital funding through equity by initial public offerings process and leveraged buyout process. The alteration of financial mix will impact debt and equity pattern by reducing debt and increasing equity resulting lower debt equity ratio at minimum cost of capital. https://bit.ly/38bJcPg
CFO Insight For Business Owners: How to Utilize Financial StatementsChase R. Morrison
CFO Insight: This is a primer on how to use financial statements to more effectively operate a privately held business and was used to educate new entrepreneurs at the Valley Economic Development Corporation in Sherman Oaks, CA.
A cognitive process: lets a person make sense of stimuli from the environment• Affects all senses: sight, touch, taste, smell, hearing• Includes inputs to person and choice of inputs to which the person attends• Stimulus sources: people, events, physical objects, ideas• Helps adaptation to a changing environment
Mudarabah is a special kind of partnership where one partner providers the capital (rabb-ul-maal) to the other (mudarib) for investment in a commercial enterprise.
The global securities market has been constantly evolving over the years to serve the needs of traders. Traders require markets that are liquid, with minimal transaction and delay costs, in addition to transparency and assured completion of the transaction. Based on these core requirements, a handful of securities market structures have become the dominant trade execution structures in the world. In this article, we'll take a look at some of the most popular market structures currently in use.
Securities that are purchased in order to be held for investment. This is in contrast to securities that are purchased by a broker-dealer or other intermediary for resale. Banks often purchase marketable securities to hold in their portfolios.
Because of the risk-return tradeoff, you must be aware of your personal risk tolerance when choosing investments for your portfolio. Taking on some risk is the price of achieving returns; therefore, if you want to make money, you can't cut out all risk. The goal instead is to find an appropriate balance - one that generates some profit, but still allows you to sleep at night.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
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Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
2. Introduction
• A firm’s basic financial resource is the stream of
cashflows produced by its assets and operations.
• Firm financed entirely by common stocks, all
cashflows belong to stockholders.
• Firm’s mix of securities is known as capital
structure
• If debt and equity, firm splits cashflows
– Relatively safe stream that goes to debtholders
– More risky that goes to stockholders
3. Example - River Cruises - All Equity Financed
• River Cruises is entirely equity financed.
Although it expects to have an income of
$125,000, but this income is not certain.
• Following table shows return to stockholders
under different assumptions about operating
income. Assumption no taxes.
4. M&M (Debt Policy Doesn’t Matter)
Example - River Cruises - All Equity Financed
Data
Number of shares
100,000
Price per share
$10
Market Value of Shares
$ 1 million
Outcome
State of the Economy
Slump
Operating
Income
Earnings
per share
Return on shares
Expected
Boom
$75,000
125,000
175,000
$.75
1.25
1.75
7.5%
12.5%
17.5%
5. Example - River Cruises - All Equity Financed
• River Cruises is wondering to issue $500,000
of debt at an interest rate of 10% and
repurchase 50,000 shares.
• Return to shareholder under different
assumptions about operating income
• Returns to stockholders are increased in
normal and boom times but fall in slumps.
6. M&M (Debt Policy Doesn’t Matter)
Data
Example
cont.
50% debt
Number of shares
50,000
Price per share
$10
Market Value of Shares
$ 500,000
Market val ue of debt
$ 500,000
Outcome
State of the Economy
Slump
Expected
Boom
$75,000
125,000
175,000
Interest
$50,000
50,000
50,000
Equity earnings
$25,000
75,000
125,000
Earnings
$.50
1.50
2.50
5%
15%
25%
Operating
Income
per share
Return on shares
7. Definitions
i.
Operating Risk (business risk) – Risk in the
firm’s operating income.
ii. Financial Risk - Risk to shareholders resulting
from the use of debt.
iii. Interest Tax Shield- Tax savings resulting from
deductibility of interest payments.
8. Financial Leverage
• Financial leverage refers to the extent to which a
firm relies on debt financing. The more debt a
firm uses, relative to equity, the more financial
leverage it employs.
Generally, increases in leverage result in increases
in risk and return, whereas decreases in leverage
result in decreases in risk and return.
9. C.S. & Corporate Taxes
River Cruise DOES create value in a corporate tax environment by using
debt financing. This is done by maximizing the cash flows to both equity
and bondholders.
All Equity
EBIT
1/2 Debt
125,000
125,000
Interest Pmt
0
50,000
Pretax Income
125,000
75,000
Taxes @ 35%
43,750
26,250
Net Cash Flow
81,250
48,750
10. Financial Distress
• Financial distress occurs when promises to creditors are broken or
honored with difficulty.
• Sometimes financial distress leads to bankruptcy, sometimes it
means only skating on thin ice.
• Financial distress is costly option i.e. costs of Financial distress.
• Costs arising from bankruptcy or distorted business decisions
before bankruptcy.
• Low rate of interest is charged if probability of default is minimal
11. Bankruptcy Procedures
• Workout: agreement between a company and its creditors
establishing the steps the company must take to avoid
bankruptcy.
• Bankruptcy: the reorganization or liquidation of a firm that
cannot pay its debts.
• Liquidation: sale of bankrupt firm’s assets.
• Reorganization: restructuring of financial claims on failing firm
to allow it to keep operating.
12. Bankruptcy Procedures
• A firm that cannot meet its obligations may try to arrange a
workout with its creditors to enable it to settle its debts. If this
is unsuccessful, the firm may file for bankruptcy, in which
case the business may be liquidated or reorganized.
• Liquidation means that the firm’s assets are sold and the
proceeds used to pay creditors.
• Reorganization means that firm is maintained as an ongoing
concern and creditors are compensated with securities in the
reorganized firm.
• Ideally, reorganization should be chosen over liquidation
when firm as a going concern is worth more than its
liquidation value. However, conflicting interests of the
different parties can result in violations of this principle.