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Author: Lucky Yona Publisher: AuthorHouse ISBN: 1546295585 Category : Business & Economics Languages : en Pages : 109
Book Description
The dominant capital structure studies across the globe have been concentrated in developed countries and specifically for listed companies and few on unlisted companies or mixed companies. This thesis aims to examine the extent to which company liquidity, profitability, tangibility, and company size influence the leverage of Tanzanian companies as suggested by pecking order and trade-off theory. The study findings show a negative relationship between company liquidity and company leverage as measured by debt ratio and debt-to-equity ratio. These findings show the validity of the pecking order theory in Tanzania. The postulates of the trade-off theory as far as liquidity is concerned are not valid. The study findings also reveal a positive relationship between profitability and leverage, suggesting that majority of Tanzanian companies used more debts as the means of financing their business operations despite their profitability. The study also found that the tangibility of listed companies was higher than that of the unlisted companies and that there was a negative relationship between tangibility and leverage, which is valid to pecking order but contrary to trade-off theory. As far as company size is concerned, study findings suggest that pecking order theory (POT) and trade-off theory (TOT) relevance cannot be fully supported in Tanzanian companies as the findings have revealed a negative relationship between company size and leverage. Findings reveal a negative relationship between company size and leverage. Pecking order theory (POT) and trade-off theory (TOT) relevance cannot be fully supported in Tanzanian companies, and size of listed companies was higher than that of the unlisted companies. This suggests that the size of majority of Tanzanian unlisted companies is still small as compared to the listed companies.
Author: Lucky Yona Publisher: AuthorHouse ISBN: 1546295585 Category : Business & Economics Languages : en Pages : 109
Book Description
The dominant capital structure studies across the globe have been concentrated in developed countries and specifically for listed companies and few on unlisted companies or mixed companies. This thesis aims to examine the extent to which company liquidity, profitability, tangibility, and company size influence the leverage of Tanzanian companies as suggested by pecking order and trade-off theory. The study findings show a negative relationship between company liquidity and company leverage as measured by debt ratio and debt-to-equity ratio. These findings show the validity of the pecking order theory in Tanzania. The postulates of the trade-off theory as far as liquidity is concerned are not valid. The study findings also reveal a positive relationship between profitability and leverage, suggesting that majority of Tanzanian companies used more debts as the means of financing their business operations despite their profitability. The study also found that the tangibility of listed companies was higher than that of the unlisted companies and that there was a negative relationship between tangibility and leverage, which is valid to pecking order but contrary to trade-off theory. As far as company size is concerned, study findings suggest that pecking order theory (POT) and trade-off theory (TOT) relevance cannot be fully supported in Tanzanian companies as the findings have revealed a negative relationship between company size and leverage. Findings reveal a negative relationship between company size and leverage. Pecking order theory (POT) and trade-off theory (TOT) relevance cannot be fully supported in Tanzanian companies, and size of listed companies was higher than that of the unlisted companies. This suggests that the size of majority of Tanzanian unlisted companies is still small as compared to the listed companies.
Author: Christopher Candland Publisher: Routledge ISBN: 113408921X Category : Political Science Languages : en Pages : 282
Book Description
In this first comparative study of organized labor in India and Pakistan, the author analyses the impact and role of organized labor in democratization and development. The study provides a unique comparative history of Indian and Pakistani labor politics. It begins in the early twentieth century, when permanent unions first formed in the South Asian Subcontinent. Additionally, it offers an analysis of changes in conditions of work and terms of service in India and Pakistan and of organized labor’s response. The conclusions shed new light on the influence of organized labor in national politics, economic policy, economic welfare and at the workplace. It is demonstrated that the protection of workers has desirable outcomes not only for those workers covered but also for democratic practice and for economic development.
Author: Leora Klapper Publisher: World Bank Publications ISBN: Category : Business law Languages : en Pages : 60
Book Description
"Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have high entry. Also, value added per employee in naturally "high entry" industries grows more slowly in countries with onerous regulations on entry. Interestingly, regulatory entry barriers have no adverse effect on entry in corrupt countries, only in less corrupt ones. Taken together, the evidence suggests bureaucratic entry regulations are neither benign nor welfare improving. However, not all regulations inhibit entry. In particular, regulations that enhance the enforcement of intellectual property rights or those that lead to a better developed financial sector do lead to greater entry in industries that do more R & D or industries that need more external finance"--National Bureau of Economic Research web site.
Author: Kose John Publisher: Emerald Group Publishing ISBN: 1783501219 Category : Business & Economics Languages : en Pages : 269
Book Description
Advances in Financial Economics Vol. 16 contains a set of empirical papers by a set of global scholars who examine corporate governance and market regulation from a variety of perspectives.
Author: John Gartchie Gatsi Publisher: Xlibris Corporation ISBN: 1514448297 Category : Business & Economics Languages : en Pages : 136
Book Description
This book deals extensively with theoretical, empirical, and robust methodology of capital structure in the context of debt structure in the Ghanaian financial sector. The study investigated the relationship between debt structure and financial performance of financial institutions in Ghana over the period 20022011. Using panel data methodology, it was discovered that there is a significant difference in the capital structure practices of insurance companies and banks. Short-term debts and total debt are negatively significant in determining returns on equity (ROE) and returns on asset (ROA) in the financial institutions of Ghana.
Author: Dinçer, Hasan Publisher: IGI Global ISBN: 1466646365 Category : Business & Economics Languages : en Pages : 497
Book Description
"This book explores the concept of a global industry through case studies, emerging research, and interdisciplinary perspectives applicable to a variety of fields in banking and finance"--Provided by publisher.
Author: Krishna Dayal Pandey Publisher: Taylor & Francis ISBN: 1000924971 Category : Business & Economics Languages : en Pages : 135
Book Description
This book provides empirical insights into the relationship between capital and equity-ownership structure of Indian manufacturing companies and their financial performance. It discusses and analyses the basic theories and concepts associated with capital structure, debt financing, levered and unlevered firms, the various forms of ownership, agency problem and its kind and the exploitation of minority owners by the large and largest owners. The study employs a set of the most reliable and suitable econometric estimation techniques to draw meaningful inferences on the Indian manufacturing sector. The novelty of this book lies in three particular aspects: the depth and dimension with which the topic is addressed; the robust empirical evidence that it has produced and the simple and intelligible approach with which it is authored. It communicates the crucial relevance of corporate capital structure and equity-ownership to the moderation of agency relationship and shaping the internal governance mechanism, which ultimately results in increased or decreased operational efficiency and financial performance. It will enable readers to understand whether an increased amount of debt capital would bring about positive results for firms or create an extra burden on the management of their finances, preventing them from taking productive investment decisions due to the threat of liquidation. The book will find an audience among advanced students, scholars and researchers who are interested in understanding the corporate finance practices and governance mechanism of Indian organizations.
Author: Lucky Yona
Author: Lucky Yona
Author: Christopher Candland
Author: Alexander Allan Robichek
Author: 
Author: Leora Klapper
Author: Kose John
Author: John Gartchie Gatsi
Author: 
Author: Dinçer, Hasan
Author: Krishna Dayal Pandey