Numerous studies have discussed that even if fundamental for innovation and economic growth, SMEs are often financially more constrained than large firms. Therefore, venture capitalists are often the only available sources of financing to small and young companies. Through the analysis of a...

This paper used the internationalized electronic industries in the US and Taiwan from 1999 to 2008 as the subjects to compare their debt ratio and the scale of cash dividend as the reference for financing strategies and decision. The evidence showed that the debt ratio and the cash dividend...

The primary goal of this paper is to quantify the impact of financing constraints on corporate growth. For this, we use a sample of 1588 firms from the GCC and East Asia during the period 1999-2007. Specifically, we examine the relationships between growth and (1) the availability of internal...

The aim of the article is to present the method of establishing equity shares in weight average cost of capital (WACC), in which the value of loan capital results from the fixed assumptions accepted in the financial plan (for example a schedule of loan repayment) and own equity is evaluated by...

Over the last two decades, a number of financial disasters have occurred due to failure in risk management procedures. If some, as the Asian financial crisis, had a very much more muted global impact (even though they sent shock waves through global financial markets, the main damage were fairly...

This paper analyzes the determinants of governance transparency. In our model, entrepreneurs optimally decide the precision of their earning reporting by trading off the possibility of expropriating profits against the capacity to attract external funding.We find that information is only...

Company valuation is not done after having generated a few values being a result of applying different valuation methods. In many cases institutions ordering the valuation request a value which can be an equivalent of a market, transactional value. Often the one method (and the valuation...

The subject of the article is the presentation of an unconventional method of establishing the value of the company together with investment ventures basing on the concept of real options (Real Option Valuation ROV). The option calculation can be applied in many areas, such as: evaluation of...

Während manche Länder in der Europäischen Währungsunion aufgrund von Schulden- und Strukturkrisen tief in der Rezession stecken, steht die deutsche Wirtschaft derzeit glänzend da. Die Arbeitslosigkeit ist auf den niedrigsten Stand seit der Wiedervereinigung gefallen, die Wirtschaftsleistung...

Die Industrie in Deutschland hat bis zum dritten Quartal das Produktionsniveau des Vorjahres knapp halten können. Sie stand einer im Jahresverlauf stark rückläufigen Nachfrage aus dem Inland und dem Euroraum und einer leicht steigenden Nachfrage aus dem Nicht-Euroraum gegenüber. Für das...