scholarly journals Approaches to evaluation of changes in capital structure in industrial branches

2010 ◽  
Vol 58 (6) ◽  
pp. 259-268 ◽  
Author(s):  
Martin Landa ◽  
Dana Martinovičová
Keyword(s):  
Capital Structure ◽  
Manufacturing Industry ◽  
Cost Of Capital ◽  
Joint Effect ◽  
Theory And Practice ◽  
Financial Resources ◽  
Special Focus ◽  
Wide Range ◽  
The Cost ◽  
Selection Of

Capital structure is described as a relation between equity and debts while the mutual consequences among items of company’s assets and resources employed as well as the cost of capital are also taken into account. Both, the theory and practice, at evaluation of approaches to capital structure are focu­sed on creation and optimization of capital structure. Relatively less frequent approach is the analy­sis of a state and of changes in capital structure on the level of whole business branch. But on this basis, it is possible to investigate some “average” approaches to selection of financial resources. At ca­pi­tal structure optimization (the proportion between equity and debts), a wide range of criteria plays a substantial role, e.g. cost of capital, risk, expected profitability, liquidity, dividend policy. These criteria have joint effect. This way, a logic question which criteria are preferred more and which criteria are preferred less appears. The article deals with the analysis of capital structure of three branches of manufacturing industry (the branch of production of plastics, the branch of production of electric equipments, the branch of production of textile) in the years 2007–2009 with the special focus on development of financial structure, capital structure and on cost of capital.

Confirming Anomalies

2021 ◽  
pp. 2150024
Author(s):  
Peter Chinloy ◽  
Matthew Imes
Keyword(s):  
Capital Structure ◽  
Stock Returns ◽  
Cost Of Capital ◽  
Simultaneous Equations ◽  
Second Stage ◽  
Predicted Values ◽  
The Cost ◽  
Over Time ◽  
Identification Strategy

A procedure confirms whether a return-factor correlation is anomalous or results from endogenous simultaneous-equations bias. The identification strategy sorts the cost of capital components for instruments. In the first stage, the initially found factors are regressed on cost instruments. In the second stage, a confirmed anomaly has predicted value significant in returns and exogenous. Taxes, depreciation and capital structure are strong instruments, affecting 1980–2017 quarterly U.S. stock returns. Size, value and profitability decisions are significant in instruments. Returns increase in fitted profits, but not small size. Actual and predicted values have weaker correlation with returns over time.

Prescreening in large populations as a tool for identifying elevated CO2-responsive genotypes in plants

2019 ◽  
Vol 46 (1) ◽  
pp. 1 ◽  
Author(s):  
Hiroyuki Shimono ◽  
Graham Farquhar ◽  
Matthew Brookhouse ◽  
Florian A. Busch ◽  
Anthony O'Grady ◽  
...  
Keyword(s):  
Genetic Selection ◽  
Co2 Concentration ◽  
Elevated Atmospheric Co2 ◽  
High Performing ◽  
Active Selection ◽  
Wide Range ◽  
Large Populations ◽  
Increase Productivity ◽  
The Cost ◽  
Selection Of

Elevated atmospheric CO2 concentration (e[CO2]) can stimulate the photosynthesis and productivity of C3 species including food and forest crops. Intraspecific variation in responsiveness to e[CO2] can be exploited to increase productivity under e[CO2]. However, active selection of genotypes to increase productivity under e[CO2] is rarely performed across a wide range of germplasm, because of constraints of space and the cost of CO2 fumigation facilities. If we are to capitalise on recent advances in whole genome sequencing, approaches are required to help overcome these issues of space and cost. Here, we discuss the advantage of applying prescreening as a tool in large genome×e[CO2] experiments, where a surrogate for e[CO2] was used to select cultivars for more detailed analysis under e[CO2] conditions. We discuss why phenotypic prescreening in population-wide screening for e[CO2] responsiveness is necessary, what approaches could be used for prescreening for e[CO2] responsiveness, and how the data can be used to improve genetic selection of high-performing cultivars. We do this within the framework of understanding the strengths and limitations of genotype–phenotype mapping.

Capital Structure and the Cost of Capital for Untaxed Firms: The Case of REITs

1990 ◽  
Vol 18 (1) ◽  
pp. 22-39 ◽  
Author(s):  
Brian A. Marts ◽  
Fayez A. Elayan
Keyword(s):  
Capital Structure ◽  
Cost Of Capital ◽  
The Cost

A brief review on the erosion-corrosion behavior of engineering materials

2018 ◽  
Vol 36 (5) ◽  
pp. 435-447 ◽  
Author(s):  
Roshan Kuruvila ◽  
S. Thirumalai Kumaran ◽  
M. Adam Khan ◽  
M. Uthayakumar
Keyword(s):  
Adverse Effects ◽  
Industrial Process ◽  
Industrial Applications ◽  
Appropriate Technology ◽  
Material Loss ◽  
Adverse Conditions ◽  
Wide Range ◽  
Erosion Corrosion ◽  
The Cost ◽  
Selection Of

AbstractThe efficiency of industry depends upon the working conditions of the equipment and components used in the industrial process. The biggest problems faced by the industries are the problems of erosion and corrosion. The harmful effects of corrosion will lead to material loss, which results from the degradation of the equipment. The degradation of the equipment will cause the breakdown of the plant; moreover, it is a threat to the safety of people, and also from the point of conservation, it can cause the exploitation of available resources. The cost of replacing equipment increases the expense, and it can also result in the temporary shutdown of the plant. The protection of surfaces from the adverse effects of corrosion and erosion-corrosion is a matter of great concern in most industrial applications. Advancements in technology provides a wide range of techniques to overcome adverse conditions. The selection of appropriate technology must be from the viewpoint of their interaction with the environment. This review paper addresses the adverse effects of erosion-corrosion in the present scenario.

scholarly journals Do Strict Capital Requirements Raise the Cost of Capital? Bank Regulation, Capital Structure, and the Low-Risk Anomaly

2015 ◽  
Vol 105 (5) ◽  
pp. 315-320 ◽  
Author(s):  
Malcolm Baker ◽  
Jeffrey Wurgler
Keyword(s):  
Capital Structure ◽  
Stock Returns ◽  
Cost Of Capital ◽  
Weighted Average ◽  
Capital Requirements ◽  
Structure Theory ◽  
Treasury Bills ◽  
Percentage Point Increase ◽  
Point Increase ◽  
The Cost

Traditional capital structure theory predicts that reducing banks' leverage reduces the risk and cost of equity but does not change the weighted average cost of capital, and thus the rates for borrowers. We confirm that the equity of better-capitalized banks has lower beta and idiosyncratic risk. However, over the last 40 years, lower risk banks have not had lower costs of equity (lower stock returns), consistent with a stock market anomaly previously documented in other samples. A calibration suggests that a binding ten percentage point increase in Tier 1 capital to risk-weighted assets could double banks' risk premia over Treasury bills.

Industrial construction. Buildings and constructions. Corrosion protection and ecology

2020 ◽  
Author(s):  
Aleksey Zhukov ◽  
Vladimir Astashkin ◽  
Vil'en Zholudov ◽  
Vyacheslav Semenov
Keyword(s):  
Corrosion Protection ◽  
Building Materials ◽  
Training System ◽  
Industrial Construction ◽  
Technical Schools ◽  
Industrial Buildings ◽  
Wide Range ◽  
Modern Experience ◽  
The Cost ◽  
Selection Of

This monograph summarizes the modern experience of protection of industrial buildings and structures against aggressive impacts are considered characteristic of corrosion processes under the action of liquid, solid and gaseous environments on the main building materials. Provides a system of regulating the degree of aggressiveness for different parts of buildings and constructions basic provisions for the selection of chemically resistant structures and materials, design methodology section corrosion protection. Systematic design methods of protecting groundwater and soil against aggressive and toxic media, the methods of accounting for the cost of corrosion protection as applied to building elements. Designed for a wide range of engineering-technical workers (ITR), related to design, construction and exploitation of constructions and structures. Can also be used as a textbook for technical schools, colleges and training system engineers.

scholarly journals Analysis of the structure and cost of capital in mining enterprises

2017 ◽  
Vol 33 (1) ◽  
pp. 77-92 ◽  
Author(s):  
Robert Ranosz
Keyword(s):  
Capital Structure ◽  
Cost Of Capital ◽  
Cost Of Debt ◽  
Cost Of Equity ◽  
Mining Company ◽  
Optimal Capital Structure ◽  
Mining Companies ◽  
Debt Capital ◽  
Capital Funding ◽  
The Cost

AbstractThis article focuses on the analysis of the structure and cost of capital in mining companies. Proper selection of appropriate levels of equity and debt capital funding of investment has a significant impact on its value. Thus, to maximize the value of the company, the capital structure of the company should be composed to minimize the weighted average cost of capital. T he objective of the article is to present the capital structure of selected Polish and world’s mining companies and estimate their cost of equity and debt capital. In the paper the optimal capital structure for the Polish mining company (KGHM SA) was also estimated. It was assumed that both Polish and world’s mining companies, have no debt exceeding 45% in the financing structure. For the most of analyzed cases, the level of financing with debt capital is in the range between 10% and 35%. T he cost of equity exceeds the cost of debt capital and is in the range between 8% and 20%, while the cost of debt capital reaches the range between 1.9% and 12%. T he analysis of the optimal capital structure determining, performed for the selected mining company, showed that debt capital funding for the company should be in the range between 5.7% and 7.4%.

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