the cost of raising capital

Accounting Information, Disclosure, and the Cost of Capital doc

Accounting Information, Disclosure, and the Cost of Capital doc

Ngày tải lên : 06/03/2014, 21:20
... that the cost of capital of the firm depends on four factors: the risk free rate, the aggregate risk tolerance of the market, the expected cash flow of the firm, and the covariance of the firm’s ... links the disclosure of accounting information to the cost of capital. Specifically, we examine whether and how the quality of a firm’s accounting information manifests in its cost of capital, ... Again, the impact of the indirect effects on the cost of capital is ambiguous. As above, if improved disclosure shifts only the “fixed” component of managerial misappropriation, firms’ cost of capital...
  • 54
  • 592
  • 0
The impact of ''accounting and auditing enforcement release'' on firms' cost of equity capital

The impact of ''accounting and auditing enforcement release'' on firms' cost of equity capital

Ngày tải lên : 01/06/2014, 14:04
... impact of the AAER. If the restatement occurs in conjunction with, or following, the AAER issuance, it likely does not impact the change in cost of equity capital surrounding the issuance of the ... hypothesis, stated in alternative form, examines this role of severity in determining the change in cost of equity capital: H3: The increase in cost of equity capital will be greater when the ... Influence of Severity on the Change in Cost of Equity Capital 48 10. Influence of Severity on the Change in Cost of Equity Capital Individual Measures…………………………………… …… 49 11. Impact of SEC...
  • 82
  • 560
  • 0
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_2 pptx

The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_2 pptx

Ngày tải lên : 20/06/2014, 20:20
... the stock market crash of 1990, the Asian crisis of the mid-1990s, the fabulous technology boom/bust cycle at the turn of the millen- nium, and the unprecedented rise and then collapse for U.S. ... economists joined together in a cele- bration of the Goldilocks economy. With the dismal record of the 1970s as their point of comparison, mainstream analysts focused on the not-too-hot, not-too-cold ... a consequence they led their creators to assert, incor- rectly, that there was no theoretical justification for the visible hand of government to come to the rescue of banks and other financial institutions. Finally,...
  • 28
  • 356
  • 0
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_4 pot

The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_4 pot

Ngày tải lên : 20/06/2014, 20:20
... to the Fed’s list of poten- tially destabilizing excesses. Why? Sadly, it was not the force of ideas that carried the day. It was the end of the Great Moderation. The breath- taking nature of the ... excessive uses of risk and concentration of investment. And the interplay of these two flaws explains each of the major economic declines of the past 25 years. In summation, the savvy analyst must be of two ... indeed shocked by the events of 2008. Shock in hand, they can argue that their sense of the way the world works is intact. Listen to speeches from representatives of the European Central Bank, the ECB,...
  • 28
  • 345
  • 0
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_5 pot

The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_5 pot

Ngày tải lên : 20/06/2014, 20:20
... and the economy. CASH, AT LONG, LONG LAST, IS TRASH Equity ownership, or a piece of the action, is the essence of the difference between capitalist-based economies and the planned economies of the Soviet ... bubble of the proportions of Japan in the 1980s or the technology bubble in the United States in the 1990s. Indeed, in this case you could argue that the bust was as much an example of excess as the ... any fun playing the role of party pooper. What fol- lows is a piece I wrote on the eve of the collapse of Nasdaq, in the spring of 2000. 2 The Brave-New-World Boom Goes Bust: The 1990s Technology...
  • 28
  • 355
  • 0
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_6 pot

The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_6 pot

Ngày tải lên : 20/06/2014, 20:20
... handful of other Asian countries were intent on keeping their currencies pegged to the U.S. dollar. To do so, they needed to buy U.S. bonds. And they ended up buying trillions of dollars’ worth of ... in terms of global savings. I saw it as easy money emanating from the 130 • T HE C OST OF C APITALISM to the powers of the computer and the cell phone, and envisioned an extended period of serenity. ... for the timely and aggressive ease of the U.S. Fed last year. . . . Going forward, the newly emerging reality of rest -of- world recovery ends the need for booming U.S. spending. Moreover, the...
  • 28
  • 367
  • 0
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_7 pot

The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_7 pot

Ngày tải lên : 20/06/2014, 20:20
... in the soundness of the people on the other side of the table, financial business comes to a screeching halt, and the global economy is not far behind. Bear Stearns Appropriately enough, the ... neoclassical synthesis, arguing that much of the genius of Keynes was lost in the attempt to preserve the lion’s share of the classical economic tradition. To grossly oversimplify, the groups fared ... both the long run and the short run. Thus, from the perspective of conservative policy makers, the job was now done. Whatever the economic situation, it was the best of all possible worlds. The...
  • 28
  • 412
  • 0
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_8 potx

The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_8 potx

Ngày tải lên : 20/06/2014, 20:20
... brain skills. Looking through the details of the question to get to an overarching sense of the issue is at the heart of right brain thinking. Out of the Mouths of Babes The best right brain thinking ... even amidst the imposing shadow of the 2008 crisis, the record of free market capitalism over the past 50 years is striking. The postwar reality—good gains in living standards in the developed ... of course, puts me at odds with many of the most vociferous fans of Hy Minsky. What follows is a brief sketch of the experiences that led me to the prejudices that I hold. was that neither of...
  • 28
  • 342
  • 0
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_9 doc

The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_9 doc

Ngày tải lên : 20/06/2014, 20:20
... part of the mainstream formulation. The simple truth is that theorists owe this to the policy-making world. The sooner they deliver it, the better. 208 • T HE C OST OF C APITALISM Cushioning the ... leading up to the crisis of 2008, many champions of free market capitalism warned about the tenuous nature of the global credit markets. Warren Buffett, the sage of Omaha, labeled the mar- kets ... the basic responsibilities of central bankers. A worldwide commitment to keeping inflation low emerged in the aftermath of the Great Inflation of the 1970s. Central bankers, in the aftermath of the...
  • 28
  • 378
  • 0
Review Of The Cost Of Capitalism Culture Lifestyle_2 docx

Review Of The Cost Of Capitalism Culture Lifestyle_2 docx

Ngày tải lên : 21/06/2014, 12:20
... economists joined together in a cele- bration of the Goldilocks economy. With the dismal record of the 1970s as their point of comparison, mainstream analysts focused on the not-too-hot, not-too-cold ... wit- nessed the 1987 stock market crash, the S&L crisis of the early 1990s, the Long-Term Capital Management meltdown, and the spectacular technology boom and bust dynamic of the late nineties. ... when they were needed, as singular one- off events. Somehow these crises were independent from the gener- ally healthy backdrop they could point to before the serious recession of 2008 arrived. These...
  • 28
  • 347
  • 0
Review Of The Cost Of Capitalism Culture Lifestyle_3 pptx

Review Of The Cost Of Capitalism Culture Lifestyle_3 pptx

Ngày tải lên : 21/06/2014, 12:20
... lower than the value of what is owed to them—their assets. When they subtract their liabilities from their assets, the remainder is their equity. The problem for banks arises if the banks have lots of ... gone bust and the bank now owns the home. But the loan was for $588,000, and the house is worth $538,000. If lots of home loans go the way of Hanna’s loan, then the total value of the bank’s assets ... change. Indeed, if one embraces the efficient market hypothesis, the price of a capital asset is the embodiment of the present value of incomes to be received in the future. Thus, every decision...
  • 28
  • 296
  • 0
Review Of The Cost Of Capitalism Culture Lifestyle_4 doc

Review Of The Cost Of Capitalism Culture Lifestyle_4 doc

Ngày tải lên : 21/06/2014, 12:20
... excessive uses of risk and concentration of investment. And the interplay of these two flaws explains each of the major economic declines of the past 25 years. In summation, the savvy analyst must be of two ... to the Fed’s list of poten- tially destabilizing excesses. Why? Sadly, it was not the force of ideas that carried the day. It was the end of the Great Moderation. The breath- taking nature of the ... Novem- ber of 2008, on the heels of widespread evidence of economic retreat. At that time the NBER, the of cial arbiter, also declared that the United States was in recession. It set the start...
  • 28
  • 292
  • 0
Review Of The Cost Of Capitalism Culture Lifestyle_5 pptx

Review Of The Cost Of Capitalism Culture Lifestyle_5 pptx

Ngày tải lên : 21/06/2014, 12:20
... any fun playing the role of party pooper. What fol- lows is a piece I wrote on the eve of the collapse of Nasdaq, in the spring of 2000. 2 The Brave-New-World Boom Goes Bust: The 1990s Technology ... T HE C OST OF C APITALISM of these companies looked shaky. The value of bank assets, therefore, had to be reduced. And banks, in need of additional capital, curtailed their lending. Japan in the early ... and the economy. CASH, AT LONG, LONG LAST, IS TRASH Equity ownership, or a piece of the action, is the essence of the difference between capitalist-based economies and the planned economies of the Soviet...
  • 28
  • 298
  • 0
Review Of The Cost Of Capitalism Culture Lifestyle_6 docx

Review Of The Cost Of Capitalism Culture Lifestyle_6 docx

Ngày tải lên : 21/06/2014, 12:20
... even the most creative mortgage providers to lift their teaser rates the cost of money forced them to make the adjustment. 140 • T HE C OST OF C APITALISM In the United States, a vocal group of ... gripped the United States and then became a world recession. The dynamics that precipitated the U.S. recession, the global capital markets crisis, and the worldwide downturn, are the subject of the ... Fosters the Housing Bubble • 125 banks holding mortgage products had to radically reduce the values of these products on their balance sheets. The first in a succession of crises about the state of...
  • 28
  • 283
  • 0
Review Of The Cost Of Capitalism Culture Lifestyle_7 potx

Review Of The Cost Of Capitalism Culture Lifestyle_7 potx

Ngày tải lên : 21/06/2014, 12:20
... and a writer of the insurance. If things go as planned, the buyer pays the insurer the premium. If things go awry, the insurer pays the buyer. Either way, one of the two parties gets the money promised ... regulated free market capitalism does the best job of delivering growth to the citizenry of the world. 2. Financial system excesses are the root cause of many boom and bust cycles. The previous 12 ... both the long run and the short run. Thus, from the perspective of conservative policy makers, the job was now done. Whatever the economic situation, it was the best of all possible worlds. The...
  • 28
  • 246
  • 0

Xem thêm