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Boundless Lecture Slides

Boundless Lecture Slides. Available on the Boundless Teaching Platform. Free to share, print, make copies and changes. Get yours at www.boundless.com. Using Boundless Presentations. Boundless Teaching Platform

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Boundless Lecture Slides

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  1. Boundless Lecture Slides Available on the Boundless Teaching Platform Free to share, print, make copies and changes. Get yours at www.boundless.com

  2. Using Boundless Presentations Boundless Teaching Platform Boundless empowers educators to engage their students with affordable, customizable textbooks and intuitive teaching tools. The free Boundless Teaching Platform gives educators the ability to customize textbooks in more than 20 subjects that align to hundreds of popular titles. Get started by using high quality Boundless books, or make switching to our platform easier by building from Boundless content pre-organized to match the assigned textbook. This platform gives educators the tools they need to assign readings and assessments, monitor student activity, and lead their classes with pre-made teaching resources. Get started now at: • The Appendix The appendix is for you to use to add depth and breadth to your lectures. You can simply drag and drop slides from the appendix into the main presentation to make for a richer lecture experience. http://boundless.com/teaching-platform • Free to edit, share, and copy Feel free to edit, share, and make as many copies of the Boundless presentations as you like. We encourage you to take these presentations and make them your own. If you have any questions or problems please email: educators@boundless.com Free to share, print, make copies and changes. Get yours at www.boundless.com

  3. About Boundless • Boundless is an innovative technology company making education more affordable and accessible for students everywhere. The company creates the world’s best open educational content in 20+ subjects that align to more than 1,000 popular college textbooks. Boundless integrates learning technology into all its premium books to help students study more efficiently at a fraction of the cost of traditional textbooks. The company also empowers educators to engage their students more effectively through customizable books and intuitive teaching tools as part of the Boundless Teaching Platform. More than 2 million learners access Boundless free and premium content each month across the company’s wide distribution platforms, including its website, iOS apps, Kindle books, and iBooks. To get started learning or teaching with Boundless, visit boundless.com. Free to share, print, make copies and changes. Get yours at www.boundless.com

  4. Introducing Capital Structure Capital Structure Capital Structure Considerations Understanding the Bankruptcy Process Thinking About Operating Leverage ] Thinking About Financial Leverage Capital Structure Free to share, print, make copies and changes. Get yours at www.boundless.com

  5. Capital Structure > Introducing Capital Structure Introducing Capital Structure • Capital Structure Overview and Theory Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/finance/textbooks/boundless-finance-textbook/capital-structure-13/introducing-capital-structure-104/

  6. Capital Structure > Capital Structure Considerations Capital Structure Considerations • Optimal Capital Structure Considerations • Tax Considerations • Cost of Capital Considerations • The Marginal Cost of Capital • Trade-Off Consideration • Signaling Consideration • Constraint on Managers • Pecking Order • Window of Opportunity • Bankruptcy Considerations Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/finance/textbooks/boundless-finance-textbook/capital-structure-13/capital-structure-considerations-102/

  7. Capital Structure > Understanding the Bankruptcy Process Understanding the Bankruptcy Process • What Happens in Bankruptcy • Financial Management Before and During Bankruptcy • Striking Agreements to Avoid Bankruptcy Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/finance/textbooks/boundless-finance-textbook/capital-structure-13/understanding-the-bankruptcy-process-103/

  8. Capital Structure > Thinking About Operating Leverage Thinking About Operating Leverage • Defining Operating Leverage • Break-Even Analysis • Leverage Models • Benefits and Risks of Operating Leverage Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/finance/textbooks/boundless-finance-textbook/capital-structure-13/thinking-about-operating-leverage-105/

  9. Capital Structure > Thinking About Financial Leverage Thinking About Financial Leverage • Defining Financial Leverage • Impacts of Financial Leverage • Combining Operating Leverage and Financial Leverage Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/finance/textbooks/boundless-finance-textbook/capital-structure-13/thinking-about-financial-leverage-106/

  10. Appendix Free to share, print, make copies and changes. Get yours at www.boundless.com

  11. Capital Structure Key terms • Agency DilemmaTakes into account the difficulties in motivating one party (the "agent"), to act on behalf of another (the "principal"). • asymmetric informationState of being regarding decisions on transactions where one party has more or better information than the other. • bankruptcyLegal status of an insolvent person or an organisation, that is, one who cannot repay the debts they owe to creditors. • break-even pointThe point where total costs equal total revenue and the organization neither makes a profit nor suffers a loss. • capital gains yieldcompound rate of return of increases in a stock's price • capital rationingrestrictions on how or how much a company can invest • capital structureCapital structure is the way a corporation finances its assets, through a combination of debt, equity, and hybrid securities. • Chapter 11In bankruptcy involves rehabilitation or reorganization and is known as corporate bankruptcy. It is a form of corporate financial reorganization which typically allows companies to continue to function while they follow debt repayment plans. • Chapter 7In bankruptcy involves basic liquidation for businesses. Also known as straight bankruptcy, it is the simplest and quickest form of bankruptcy available. • cost of capitalthe rate of return that capital could be expected to earn in an alternative investment of equivalent risk • cost of capitalThe rate of return that capital could be expected to earn in an alternative investment of equivalent risk. • cost of preferred stockthe additional premium paid to have an equity security with certain additional features not present in common stock Free to share, print, make copies and changes. Get yours at www.boundless.com

  12. Capital Structure • delinquentLate or failing to pay a debt or other financial obligation, like a mortgage or loan. • dividendA pro rata payment of money by a company to its shareholders, usually made periodically (e.g., quarterly or annually). • Earnings Per ShareThe amount of earnings per each outstanding share of a company's stock. • equityOwnership, especially in terms of net monetary value, of a business. • financial distressa term used to indicate a condition when promises to creditors are broken or honored with difficulty. • fixed costbusiness expenses that are not dependent on the level of goods or services produced by the business • fixed costbusiness expenses that are not dependent on the level of goods or services produced by the business • garnishmentA judgment that a third party should pay money owed to a debtor directly to a creditor. • insolventUnable to pay one's bills as they fall due. • InterestThe price paid for obtaining, or price received for providing, money or goods in a credit transaction, calculated as a fraction of the amount or value of what was borrowed. • leverageThe ability to utilize something to gain more of something else. • leverageThe overall debt divided by shareholder equity. This borrowing allows for the multiplication of gains and losses. Free to share, print, make copies and changes. Get yours at www.boundless.com

  13. Capital Structure • leverageDebt taken on by a firm in order to finance assets. • liquidityAvailability of cash over short term: ability to service short-term debt. • Marginal Cost of CapitalThe cost of the last dollar of capital raised or the minimum acceptable rate of return or hurdle rate. • marginal tax ratethe percent paid out to the government of the last dollar (or applicable currency) earned • optimal capital structurethe amount of debt and equity that maximizes the value of the firm • Pecking OrderTheory that states that the cost of financing increases with asymmetric information. When it comes to methods of raising capital, companies prefer financing that comes from internal funds, debt, and issuing new equity, respectively. Raising equity can be considered a last resort. • SignalingThe idea that one party (termed the agent) credibly conveys some information about itself to another party (the principal). • solvencyThe state of having enough funds or liquid assets to pay all of one's debts; the state of being solvent. • structureA cohesive whole built up of distinct parts. • trade credita form of debt offered from one business to another with which it transacts • trade-offRefers to the idea that a company chooses how much debt finance and how much equity finance to use by balancing the costs and benefits. • variable costa cost that changes with the change in volume of activity experienced by an organization Free to share, print, make copies and changes. Get yours at www.boundless.com

  14. Capital Structure • variable costa cost that changes with the change in volume of activity experienced by an organization • Window of opportunityThe idea of a time when an asset or product. which is unattainable, will become available. It can be extended to a time when a certain product will be attainable at a certain price, or from an opposite perspective, the unique time a party will be able to sell a certain product at its highest price point in order to get a maximum return on investment. Free to share, print, make copies and changes. Get yours at www.boundless.com

  15. Capital Structure Too Much Credit Debt consolidation is one option for individuals owing large sums on multiple credit cards. Free to share, print, make copies and changes. Get yours at www.boundless.com Fotopedia."Too Much Credit by Andres Rueda in Credit card on Fotopedia - Images for Humanity."CC BYhttp://www.fotopedia.com/items/flickr-3274955487View on Boundless.com

  16. Capital Structure Example of Operating Leverage Factory automation with industrial robots for metal die casting. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia.CC BY-SAhttp://upload.wikimedia.org/wikipedia/commons/8/8a/Automation_of_foundry_with_robot.jpgView on Boundless.com

  17. Capital Structure Variable Costs and Contribution After filtering out the fixed costs, increases in volume will increase both the overall variable expense and the overall contribution. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."CVP-Sales-Contrib-VC.svg.png."CC BY-SA 3.0https://upload.wikimedia.org/wikipedia/commons/1/1e/CVP-Sales-Contrib-VC.svgView on Boundless.com

  18. Capital Structure Financial Leverage Firm Value Implications This graph illustrates a theoretical firm value maximizing curve when it comes to a debt-to-equity ratio. All this means is that each organization has the ideal balance between debt and equity, and finding the 'sweet spot' is a useful strategic aspect of financial leverage decisions. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."TradeOff.png."CC BY-SA 3.0https://upload.wikimedia.org/wikipedia/commons/7/79/TradeOff.pngView on Boundless.com

  19. Capital Structure Total Leverage Equation 3 TL = Total Leverage. P = Unit Revenue. V = Unit Variable Cost. X = Units Sold. FC = Fixed Costs. I = Interest Expense. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Financial leverage."GNU FDLhttp://en.wikipedia.org/wiki/Financial_leverage%23cite_note-13View on Boundless.com

  20. Capital Structure Chapter 9 Bankruptcy Jefferson County, Alabama underwent Chapter 9 bankruptcy in 2009. Free to share, print, make copies and changes. Get yours at www.boundless.com Fotopedia.CC BYhttp://www.fotopedia.com/items/flickr-6331925743View on Boundless.com

  21. Capital Structure Signaling Education credentials, such as diplomas, can send a positive signal to potential employers regarding a workers talents and motivation. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."All sizes | Man and diploma | Flickr - Photo Sharing!."CC BYhttp://www.flickr.com/photos/49024304@N00/4399589516/sizes/m/in/photostream/View on Boundless.com

  22. Capital Structure Chapter 9 Bankruptcy Jefferson County, Alabama underwent Chapter 9 bankruptcy in 2009. Free to share, print, make copies and changes. Get yours at www.boundless.com Fotopedia.CC BYhttp://www.fotopedia.com/items/flickr-6331925743View on Boundless.com

  23. Capital Structure The expected return on an asset is compared to the cost of capital to invest in the asset. Cost of capital is an important way of determining whether or not a firm is a worthwhile investment. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Permanent University Fund Assets."Public domainhttp://commons.wikimedia.org/wiki/File:Permanent_University_Fund_Assets.PNGView on Boundless.com

  24. Capital Structure Taxes A company's decision makers must take taxes into consideration when determining a firm's capital structure. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."All sizes | taxes | Flickr - Photo Sharing!."CC BY-SAhttp://www.flickr.com/photos/68751915@N05/6869765923/sizes/m/in/photostream/View on Boundless.com

  25. Capital Structure Fixed and Variable Costs Fixed costs and variable costs, together, comprise total costs. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Operating leverage."GNU FDLhttp://en.wikipedia.org/wiki/Operating_leverageView on Boundless.com

  26. Capital Structure Total Leverage Equation 1 Total leverage = DOL x DOF Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Financial leverage."GNU FDLhttp://en.wikipedia.org/wiki/Financial_leverage%23cite_note-13View on Boundless.com

  27. Capital Structure Structural Considerations Trade-off considerations are important factors in deciding appropriate capital structure for a firm since they weigh the cost and benefits of extra capital through debt vs. equity. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."New york skyline | Flickr - Photo Sharing!."CC BY 2.0http://www.flickr.com/photos/rakkhi/5336451546/View on Boundless.com

  28. Capital Structure Total Leverage Equation 2 Total leverage = DOL x DOF Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Financial leverage."GNU FDLhttp://en.wikipedia.org/wiki/Financial_leverage%23cite_note-13View on Boundless.com

  29. Capital Structure Breakeven Example FC = 1,000. P = 20. VC = 5. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Break-even (economics)."GNU FDLhttp://en.wikipedia.org/wiki/Break-even_(economics)View on Boundless.com

  30. Capital Structure Unit Contribution Margin Contribution margin (C) is the unit net revenue (P = price) minus unit variable cost (V = variable cost). Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Contribution margin."GNU FDLhttp://en.wikipedia.org/wiki/Contribution_marginView on Boundless.com

  31. Capital Structure Multiple Break-Even Prices R1, R2 and R3 = revenues at different chosen prices. TC = total cost curve. FC = fixed cost curve. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Break-even (economics)."GNU FDLhttp://en.wikipedia.org/wiki/Break-even_(economics)View on Boundless.com

  32. Capital Structure Cost of Money The Marginal Cost of Capital is the cost of the last dollar of capital raised. It is an important consideration the firm must take into account when making corporate decisions. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Money."CC BYhttp://en.wikipedia.org/wiki/MoneyView on Boundless.com

  33. Capital Structure Return On Equity The equation used to calculate return on equity. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Return on Equity."GNU FDLhttp://en.wikipedia.org/wiki/Return_on_EquityView on Boundless.com

  34. Capital Structure Possible Business Risks This chart represents a list of the possible risks involved in running an organic business. Risks such as these affect sales, which in turn affect the amount of operating leverage a company should utilize. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Possible-risks."CC BY-SAhttp://commons.wikimedia.org/wiki/File:Possible-risks.pngView on Boundless.com

  35. Capital Structure Capital Structure. Capital Structure shows how a company's assets are built out of debt and equity. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."File:(-)-Menthone structure.svg - Wikimedia Commons."Public domainhttp://commons.wikimedia.org/w/index.php?title=File:(-)-Menthone_structure.svg&page=1View on Boundless.com

  36. Capital Structure Capital Structure Captial structure is the assignment of the sources of company assets into equity or debt securities. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Capital market."GNU FDLhttp://en.wikipedia.org/wiki/Capital_marketView on Boundless.com

  37. Capital Structure Twitter at the New York Stock Exchange A Twitter banner hanging over the New York Stock Exchange on the day of its IPO. Free to share, print, make copies and changes. Get yours at www.boundless.com flickr."Screen Shot 2016-06-08 at 3.10.20 PM.png."CC BY 2.0https://www.flickr.com/photos/quintanomedia/10779578936View on Boundless.com

  38. Capital Structure Attribution • Wikipedia."Marginal cost of capital."CC BY-SA 3.0http://en.wikipedia.org/wiki/Marginal_cost_of_capital • Wikipedia."Hurdle rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/Hurdle_rate • Wikipedia."Rate of return."CC BY-SA 3.0http://en.wikipedia.org/wiki/Rate_of_return%23Capital_gains_and_losses • Wikipedia."marginal tax rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/marginal%20tax%20rate • Wikipedia."Marginal Cost of Capital."CC BY-SA 3.0http://en.wikipedia.org/wiki/Marginal%20Cost%20of%20Capital • Wikipedia."Capital structure."CC BY-SA 3.0http://en.wikipedia.org/wiki/Capital_structure • Wiktionary."structure."CC BY-SA 3.0http://en.wiktionary.org/wiki/structure • Wiktionary."equity."CC BY-SA 3.0http://en.wiktionary.org/wiki/equity • Wikipedia."Bankruptcy alternatives."CC BY-SA 3.0http://en.wikipedia.org/wiki/Bankruptcy_alternatives • Wikipedia."Altman Z-score."CC BY-SA 3.0http://en.wikipedia.org/wiki/Altman_Z-score • Wikipedia."Chapter 11, Title 11, United States Code."CC BY-SA 3.0http://en.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Code • Wiktionary."garnishment."CC BY-SA 3.0http://en.wiktionary.org/wiki/garnishment • Wikipedia."Bankruptcy in the United States."CC BY-SA 3.0http://en.wikipedia.org/wiki/Bankruptcy_in_the_United_States • Wikipedia."Bankruptcy."CC BY-SA 3.0http://en.wikipedia.org/wiki/Bankruptcy • Wikipedia."financial distress."CC BY-SA 3.0http://en.wikipedia.org/wiki/financial%20distress • Wikipedia."Chapter 11, Title 11, United States Code."CC BY-SA 3.0http://en.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Code • Wiktionary."insolvent."CC BY-SA 3.0http://en.wiktionary.org/wiki/insolvent Free to share, print, make copies and changes. Get yours at www.boundless.com

  39. Capital Structure • Wikipedia."Chapter 9, Title 11, United States Code."CC BY-SA 3.0http://en.wikipedia.org/wiki/Chapter_9,_Title_11,_United_States_Code • Wikipedia."Contribution margin."CC BY-SA 3.0http://en.wikipedia.org/wiki/Contribution_margin • Wikipedia."fixed cost."CC BY-SA 3.0http://en.wikipedia.org/wiki/fixed%20cost • Wiktionary."variable cost."CC BY-SA 3.0http://en.wiktionary.org/wiki/variable_cost • Wikipedia."Break-even (economics)."CC BY-SA 3.0http://en.wikipedia.org/wiki/Break-even_(economics) • Wikipedia."Operating leverage."CC BY-SA 3.0http://en.wikipedia.org/wiki/Operating_leverage • Wikipedia."Financial leverage."CC BY-SA 3.0http://en.wikipedia.org/wiki/Financial_leverage • Wiktionary."break-even point."CC BY-SA 3.0http://en.wiktionary.org/wiki/break-even_point • Wikipedia."Contribution margin."CC BY-SA 3.0http://en.wikipedia.org/wiki/Contribution_margin • Wikipedia."fixed cost."CC BY-SA 3.0http://en.wikipedia.org/wiki/fixed%20cost • Wiktionary."variable cost."CC BY-SA 3.0http://en.wiktionary.org/wiki/variable_cost • Wikipedia."Break-even (economics)."CC BY-SA 3.0http://en.wikipedia.org/wiki/Break-even_(economics) • Wikipedia."Operating margin."CC BY-SA 3.0https://en.wikipedia.org/wiki/Operating_margin • Wikinvest."Operating Leverage."CC BY-SA 3.0http://www.wikinvest.com/wiki/Operating_Leverage • Wiktionary."leverage."CC BY-SA 3.0https://en.wiktionary.org/wiki/leverage • Wikipedia."Operating leverage."CC BY-SA 3.0https://en.wikipedia.org/wiki/Operating_leverage • Wikipedia."Leverage (finance)."CC BY-SA 3.0https://en.wikipedia.org/wiki/Leverage_(finance) • Wikipedia."Return on Equity."CC BY-SA 3.0http://en.wikipedia.org/wiki/Return_on_Equity • Wikipedia."Financial leverage."CC BY-SA 3.0http://en.wikipedia.org/wiki/Financial_leverage Free to share, print, make copies and changes. Get yours at www.boundless.com

  40. Capital Structure • Wiktionary."liquidity."CC BY-SA 3.0http://en.wiktionary.org/wiki/liquidity • Wiktionary."solvency."CC BY-SA 3.0http://en.wiktionary.org/wiki/solvency • Wikipedia."Financial leverage."CC BY-SA 3.0http://en.wikipedia.org/wiki/Financial_leverage • Boundless Learning."Boundless."CC BY-SA 3.0http://www.boundless.com//finance/definition/earnings-per-share • Wikipedia."Debt-equity ratio."CC BY-SA 3.0https://en.wikipedia.org/wiki/Debt-to-equity_ratio • Wikinvest."Financial Leverage Ratio."CC BY-SA 3.0http://www.wikinvest.com/metric/Financial_Leverage_Ratio • Wiktionary."leverage."CC BY-SA 3.0https://en.wiktionary.org/wiki/leverage • Wikipedia."Capital structure - substitution theory."CC BY-SA 3.0https://en.wikipedia.org/wiki/Capital_structure_substitution_theory • Wikipedia."Trade-off theory of capital structure."CC BY-SA 3.0https://en.wikipedia.org/wiki/Trade-off_theory_of_capital_structure • Wikipedia."Capital structure."CC BY-SA 3.0https://en.wikipedia.org/wiki/Capital_structure • Wikipedia."Leverage (finance)."CC BY-SA 3.0https://en.wikipedia.org/wiki/Leverage_(finance) • Wikipedia."IPO."CC BY-SA 3.0http://en.wikipedia.org/wiki/IPO • Wikipedia."Window of opportunity."CC BY-SA 3.0http://en.wikipedia.org/wiki/Window%20of%20opportunity • Wikipedia."Managerial finance."CC BY-SA 3.0http://en.wikipedia.org/wiki/Managerial_finance • Wikipedia."Agency Dilemma."CC BY-SA 3.0http://en.wikipedia.org/wiki/Agency%20Dilemma • Wikipedia."Principal–agent problem."CC BY-SA 3.0http://en.wikipedia.org/wiki/Principal%E2%80%93agent_problem • Wikipedia."Trade credit."CC BY-SA 3.0http://en.wikipedia.org/wiki/Trade_credit • Wikipedia."Trade-off theory of capital structure."CC BY-SA 3.0http://en.wikipedia.org/wiki/Trade-off_theory_of_capital_structure • Wikipedia."trade-off."CC BY-SA 3.0http://en.wikipedia.org/wiki/trade-off Free to share, print, make copies and changes. Get yours at www.boundless.com

  41. Capital Structure • Wikipedia."Bankruptcy alternatives."CC BY-SA 3.0http://en.wikipedia.org/wiki/Bankruptcy_alternatives • Wikipedia."Debt restructuring."CC BY-SA 3.0http://en.wikipedia.org/wiki/Debt_restructuring • Wiktionary."delinquent."CC BY-SA 3.0http://en.wiktionary.org/wiki/delinquent • Wikipedia."cost of capital."CC BY-SA 3.0http://en.wikipedia.org/wiki/cost%20of%20capital • Wikipedia."Cost of capital."CC BY-SA 3.0http://en.wikipedia.org/wiki/Cost_of_capital • Wikipedia."capital structure."CC BY-SA 3.0http://en.wikipedia.org/wiki/capital%20structure • Wikipedia."Optimal capital structure."CC BY-SA 3.0http://en.wikipedia.org/wiki/Optimal_capital_structure • Wikipedia."Optimal capital structure."CC BY-SA 3.0http://en.wikipedia.org/wiki/Optimal_capital_structure • Wikipedia."Optimal capital structure."CC BY-SA 3.0http://en.wikipedia.org/wiki/Optimal_capital_structure • Wiktionary."leverage."CC BY-SA 3.0http://en.wiktionary.org/wiki/leverage • Wikipedia."Signalling (economics)."CC BY-SA 3.0http://en.wikipedia.org/wiki/Signalling_(economics) • Wikipedia."asymmetric information."CC BY-SA 3.0http://en.wikipedia.org/wiki/asymmetric%20information • Wikipedia."Signaling."CC BY-SA 3.0http://en.wikipedia.org/wiki/Signaling • Wikipedia."Chapter 11."CC BY-SA 3.0http://en.wikipedia.org/wiki/Chapter%2011 • Wikipedia."Bankruptcy."CC BY-SA 3.0http://en.wikipedia.org/wiki/Bankruptcy • Wikipedia."Chapter 7."CC BY-SA 3.0http://en.wikipedia.org/wiki/Chapter%207 • Wiktionary."bankruptcy."CC BY-SA 3.0http://en.wiktionary.org/wiki/bankruptcy • Wikipedia."Capital structure."CC BY-SA 3.0http://en.wikipedia.org/wiki/Capital_structure%23Agency_Costs • Wiktionary."Interest."CC BY-SA 3.0http://en.wiktionary.org/wiki/Interest Free to share, print, make copies and changes. Get yours at www.boundless.com

  42. Capital Structure • Wiktionary."dividend."CC BY-SA 3.0http://en.wiktionary.org/wiki/dividend • Wikipedia."Optimal capital structure."CC BY-SA 3.0http://en.wikipedia.org/wiki/Optimal_capital_structure • Wikipedia."Preferred stock."CC BY-SA 3.0http://en.wikipedia.org/wiki/Preferred_stock • Wikipedia."cost of capital."CC BY-SA 3.0http://en.wikipedia.org/wiki/cost%20of%20capital • Wikipedia."Financial capital."CC BY-SA 3.0http://en.wikipedia.org/wiki/Financial_capital • Wikipedia."Cost of capital."CC BY-SA 3.0http://en.wikipedia.org/wiki/Cost_of_capital • Wikipedia."Pecking Order Theory."CC BY-SA 3.0http://en.wikipedia.org/wiki/Pecking_Order_Theory • Wikipedia."Pecking Order."CC BY-SA 3.0http://en.wikipedia.org/wiki/Pecking%20Order • Wikipedia."Capital structure."CC BY-SA 3.0http://en.wikipedia.org/wiki/Capital_structure Free to share, print, make copies and changes. Get yours at www.boundless.com

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