THE GROWING ROLE Of JUNK BONDS IN CORPORATE FINANCE

1988 ◽  
Vol 1 (1) ◽  
pp. 37-45 ◽  
Author(s):  
Kevin J. Perry ◽  
Robert A. Taggart
Keyword(s):  
Author(s):  
L. V. Kislitsyna ◽  
E. S. Krikun ◽  
N. S. Suvorov

The operation of any company implies in practice the solution of a large number of issues, including the organization of the financing process. In the theory of corporate finance, there are different methods that significantly facilitate the work of financial managers in this part. At the same time, it is important and significant that in some cases, practitioners face a number of problems that are not prescribed by classical methods. The situation is exacerbated by the solution of financing issues within the complex structured companies, which have become a special result of the capital structuring. Their complex structure often combines the signs of formal and informal holdings. A large number of participants in these structures (such as subsidiaries and affiliates, affiliates, structural units), organization of relations with customers, suppliers and contractors significantly complicate most financial processes, including the financing process. In such cases, there is an urgency to clarify the qualitative characteristics of financing, necessity in determining the role and extent of the influence of "hidden" financing sources on the result and efficiency of capital use. Actually, microlending is the one of these sources.This type of financing is used by companies, being contractors of large businesses, use this resource for financial security purposes


1973 ◽  
Vol 28 (5) ◽  
pp. 1399
Author(s):  
Avery B. Cohan ◽  
Eli Shapiro ◽  
Charles R. Wolf

2013 ◽  
Vol 13 (1) ◽  
pp. 50-76 ◽  
Author(s):  
Gary D. Holt

PurposeBusiness failure has evolved a major research domain, both of corporate finance generally and of construction management, equally. Much of this attention has focused on assessing business “health” to predict longevity, but less so, on causal agents of failure. The aim of this study is to synthesise published knowledge in the subject domain to explore construction failure agents.Design/methodology/approachExtant literature drawn from both corporate finance and construction management disciplines are synthesised. Subjective, textual analysis is undertaken and causal agents thematically grouped. A failure relationship model is derived that conceptualises construction business failure in relation to its operating universe.FindingsGeneric failure agents (GFA) (ordered, based on percentage frequency among the literature observed) are shown to be: managerial, financial, company characteristics, and macroeconomic. The first three are proffered to reciprocally interact within a “universe” defined by the latter. Numerous sub‐causal agents (SCA) are attributed to each generic agent. The role of innovation is suggested to hold potential negative (as well as positive) impacts on mitigating GFA and SCA.Research limitations/implicationsLimitations relate to synthesis of contemporary published evidence, so a progressive iteration would be empirical study of identified agents within live construction environments. An implication is the call for research realignment; from emphasis on business health assessment, to that of root causal agents.Practical implicationsAdvancement of theory relating to business failure has significant implications for construction management research.Originality/valueThe failure relationship model and its linkage to innovation is novel.


Author(s):  
Wiwik Pratiwi ◽  
Wahyu Wibowo

This study aims to clarify the ethical role of an accountant who has their possessing moral eminence by reanalyzed some of the current cases of breaking ethics in Indonesia that have been done by an accountant using the study theories of accounting from accounting philosophy science. A job is said to the profession if especially closed to the public generally because people who were in the sphere of the profession need to have gotten special education in the field of the profession. Accounting which essentially is a form of an interpretation of corporate finance for measuring and outlines a certainty about the information pertaining to cash flow of company finance, relating to that profession, needs an act of ethical inevitability, remember people involved in it is lookout for an ethical value to avoid the possibility of defect ethical who would destructive of accountant integrity. By approaching the axiology who heuristic, this paper will underline the role of ethical and accountant strategic in today's global area.


2018 ◽  
pp. 179-204 ◽  
Author(s):  
Eugenio Leanza ◽  
Gianni Carbonaro

This paper presents a research agenda focusing on the role of smart, socially inclusive, sustainable cities in furthering the balanced, equitable development of the European economy. In order for cities to play this role it is necessary to start from a vision of the city as a system of interlinked assets, and from the need to manage these assets in a sustainable way using a methodology broadly based on the principles of corporate finance. This research agenda aims to span areas of expertise and policy dimensions that are often fragmented, in order to lead to improved diagnostics and strategic investing. In Europe, this vision of the city and of the urban management process will enable better bottom-up policy delivery, and address the challenges facing the European economy by facilitating the adaptation of European city systems to diverging spatial growth patterns, youth unemployment, ageing populations, migration patterns, and increasingly sharp financial divergences among different territorial systems.


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