Showing papers on "Financial risk published in 1968"
Book•
01 Jan 1968
TL;DR: In this article, the authors present a taxonomy of capital structures in the context of finance, focusing on the following: 1. Principles of Capital Investment. 2. Goals and Functions of Finance. 3. Multivariable and Factor Valuation. 4. Market Risk and Returns. 5. Dividends and Share Repurchase.
Abstract: I. FOUNDATIONS OF FINANCE. Vignette: Problems at Gillette. 1. Goals and Functions of Finance. 2. Concepts in Valuation. 3. Market Risk and Returns. 4. Multivariable and Factor Valuation. 5. Option Valuation. II. INVESTMENT IN ASSETS AND REQUIRED RETURNS. Case: Fazio Pump Corporation. 6. Principles of Capital Investment. 7. Risk and Real Options in Capital Budgeting. 8. Creating Value through Required Returns. Case: National Foods Corporation. III. FINANCING AND DIVIDEND POLICIES. Case: Restructuring the Capital Structure at Marriott. 9. Theory of Capital Structure. 10. Making Capital Structure Decisions. 11. Dividends and Share Repurchase: Theory and Practice. IV. TOOLS OF FINANCIAL ANALYSIS AND CONTROL. Case: Morley Industries, Inc. 12. Financial Ratio Analysis. 13. Financial Planning. V. LIQUIDITY AND WORKING CAPITAL MANAGEMENT. Case: Caceres Semilla S.A. de C.V. 14. Liquidity, Cash, and Marketable Securities. 15. Management of Accounts Receivable and Inventories. 16. Liability Management and Short/Medium Term Financing. VI. CAPITAL MARKET FINANCING AND RISK MANAGEMENT. Case: Dougall & Gilligan Global Agency. 17. Foundations for Longer-Term Financing. 18. Lease Financing. 19. Issuing Securities. 20. Fixed-Income Financing and Pension Liability. 21. Hybrid Financing through Equity-Linked Securities. 22. Managing Financial Risk. VII. EXPANSION AND CONTRACTION. Case: Rayovac Corporation. 23. Mergers and the Market for Corporate Control. 24. Corporate and Distress Restructuring. 25. International Financial Management. Appendix: Present-Value Tables and Normal Probability Distribution Table.
630 citations
20 citations
TL;DR: In this article, a word of caution about the potential pitfalls of computer-aided financial analysis has been expressed in recent articles in the Financial Analysts Journal (FAJ).
Abstract: A CONSIDERABLE AMOUNT of enthusiasm over the potential of computer-aided financial analysis has been evident in recent articles in the Financial Analysts Journal.' This article is not a rebuttal to these prophetic works, but rather a word of caution. The marriage of the analyst's skills with the computer's peed and computational power is undoubtedly going to be fruitful, but certain elements of the proposed manmachine interactive environment produce potential pitfalls for the unwary.
5 citations
TL;DR: The differential yield spread over Treasury bills can be explained substantially by two factors: the difference in marketability and the existence of some default risk on the alternative securities as discussed by the authors, and the fundamental reason for the attractiveness of alternatives to Treasury bills is, of course, the additional yield that the investor can obtain in substitute instruments.
Abstract: The increase in corporate liquidity over the past ten years, together with higher levels of interest rates and growing sophistication among corporate treasurers and bank portfolio managers, have contributed to the increasing importance of various money-market instruments. The relative position of the Treasury bill has declined, and bank time certificates of deposits, short-term issues of municipalities, and commercial paper have assumed greater importance. The fundamental reason for the attractiveness of alternatives to Treasury bills is, of course, the additional yield that the investor can obtain in the substitute instruments. The differential yield spread over Treasury bills can be explained substantially by two factors—the difference in marketability and the existence of some default risk on the alternative securities.
1 citations