Financial Conservatism, Capital Structure & their impact on Firm Value: A Comparison between UK and Italian firms - Softcover

Chakravorty, Debjyoti

 
9783659945151: Financial Conservatism, Capital Structure & their impact on Firm Value: A Comparison between UK and Italian firms
Softcover
ISBN 10: 3659945153 ISBN 13: 9783659945151
Verlag: LAP LAMBERT Academic Publishing, 2016

Inhaltsangabe

This book differentiates financially conservative firms from non-conservative firms and investigates how financially conservative and capital structure policies affect their firm values. A firm is said to be financially conservative if it has high cash holdings as a protection against future financial constraints. Using two samples of UK and Italian firms from 1995 to 2013, I have provided evidence that financially conservative firms, even though are cash rich and / or have low levels of debt, do not have the highest firm values due to the effects of tax shield associated with interest on debt. A detailed comparison has been made between active UK and Italian firms to illustrate this.

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Reseña del editor

This book differentiates financially conservative firms from non-conservative firms and investigates how financially conservative and capital structure policies affect their firm values. A firm is said to be financially conservative if it has high cash holdings as a protection against future financial constraints. Using two samples of UK and Italian firms from 1995 to 2013, I have provided evidence that financially conservative firms, even though are cash rich and / or have low levels of debt, do not have the highest firm values due to the effects of tax shield associated with interest on debt. A detailed comparison has been made between active UK and Italian firms to illustrate this.

Biografía del autor

Debjyoti Chakravorty graduated from St Xavier's College, Kolkata with Accountancy Honours in 2012 and later obtained M.Sc degree with Distinction in Banking & Finance from Queen Mary, University of London in 2014. He is currently working with Deloitte Touche Tohmatsu India LLP in Strategy & Operations - Finance Transformation Consulting practice.

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Verlag
LAP LAMBERT Academic Publishing
Erscheinungsdatum
2016
Sprache
Englisch
ISBN 10 
3659945153
ISBN 13 
9783659945151
Einband
Tapa blanda
Anzahl der Seiten
52
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Verantwortliche Person
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