Journal of Financial Economics 60 (2001) 187}243 The theory and practice of corporate "nance: evidence from the "eld John R. Graham , Campbell R. Harvey * Fuqua School of Business, Duke University, Durham, NC 27708, USA National Bureau of Economic Research, Cambridge, MA 02912, USA Received 2 August 1999; received in revised form 10 December 1999 Abstract We survey 392 CFOs about the cost of capital, capital budgeting, and capital structure. Large "rms rely heavily on present value techniques
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Journal of Financial Economics 60 (2001) 187}243 The theory and practice of corporate "nance: evidence from the "eldଝ John R. Graham , Campbell R. Harvey * Fuqua School of Business, Duke University, Durham, NC 27708, USA National Bureau of Economic Research, Cambridge, MA 02912, USA Received 2 August 1999; received in revised form 10 December 1999 Abstract We survey 392 CFOs about the cost of capital, capital budgeting, and capital structure. Large "rms rely heavily on present value
Words: 27368 - Pages: 110
2 Information Asymmetry, Signaling, and Share Repurchase Repurchasing of shares has represented a growing proportion of total U.S. corporate payouts in recent years. The ratio of expenditure on the purchase of common and preferred stocks to market value has risen from 0.19% in 1972 to 1.36% in 2000, whereas the ratio of total dividends declared on common stocks to market value has decreased from 2.19% to 1.2% over the same period (Grullon and Michaely, 2002). Moreover, both Fama and French
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total assets ratio is used to compute the investment policy of working capital management and to determine financing policy of working capital management current liabilities to total assets ratio is used. Other variables that are used in this study are quick ratio, debt to equity ratio and size of the firms. Secondary data of 117 textile firms listed on Karachi stock exchange is taken for a period of six years i.e. 2005-2010 to calculate all these variables. Results of the regression analysis show that
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Groups Bivariate Analysis: Methods for comparing two groups are special cases of bivariate statistical methods – Two variables exist: Response variable – outcome variable on which comparisons are made Explanatory variable – binary variable that specifies the groups Statistical methods analyze how the outcome on the response variable depends on or is explained by the value of the explanatory variable Independent Samples: Most comparisons of groups use independent samples from the groups, The
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The following 18 questions relate to Ethical and Professional Standards. (27 minutes) 1. York Investment Advisers, which has publicly adopted the CFA Institute. Standards of Professional Conduct, has recently published a new marketing brochure highlighting the accomplishments of its investment professionals. Which of the following statements made in York's marketing brochure is a violation of Standard VII(B) Reference to CFA Institute, the CFA Designation, and the CFA Program? A. Roger Langley, Chartered
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Non-woven geotextiles (GT) were placed at different depth of soil and the improvement in soil bearing capacity are checked by CBR and UCC test. From this study, single layer of GT introduced at the centre (mid depth) shows better performance than those samples with the GT layer at other depth. 1. INTRODUCTION In Sivakasi-Sattur State Highway-187 (SH-187), the sub grade consists of High Plasticity Inorganic Clay (CH). Because of its high swelling and shrinkage characteristics, the soil has been a challenge
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literature Research objectives Research Methodology Lintner Model: Analysis and findings Factor Analysis and Regression results on Extracted Factors Quadratic Polynomial Regression Analysis & Findings Event study: Analysis & Findings Conclusion Chapter plan Selected References Annexure Page no. 4-9 9-14 14-15 15-23 23-24 24-28 28-30 30-32 32-35 35-36 36-38 (III-XX) 2 Sujata Kapoor, JBS, JIIT,Dec’ 2009 KEY TERMS DIVIDEND PAYOUT RATIO: The percentage of earnings paid to shareholders in dividends
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interval, or ratio). You then have to be able to interpret the statistical results in the context of the given problem. When requesting SPSS procedures: a. Consider the results that you are expecting, for example, what will be the point of the results attained via a Regression Analysis, or a Means Analysis? Ask if this procedure is the best way of solving your informational need. b. ALWAYS consider the level of measurement of your variable (nominal, ordinal, interval or ratio). There are
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background, hypothesis, empirical tests, and result. Summary Al-Najjar and Hussainey found a capital structure puzzle which is involved with different definition of capital structure and determinants of corporate capital structure. They collected a sample data of 379 non-financial firms in the UK from 1991 to 2002, and investigated firms’ corporate characteristics (including firm growth rate, risk level, firm size, asset tangibility, and firm’s profitability) and corporate governance elements (including
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