Linking local business with global growth opportunities: the role of infrastructure

2016 ◽  
Vol 32 (3) ◽  
pp. 410-430 ◽  
Author(s):  
Debora Revoltella ◽  
Philipp-Bastian Brutscher ◽  
Alexandra Tsiotras ◽  
Christoph T. Weiss
Keyword(s):  
Growth Opportunities ◽  
Local Business ◽  
Global Growth

Misallocation of Investment in Europe

2018 ◽  
Author(s):  
Francesca Barbiero ◽  
Philipp-Bastian Brutscher ◽  
Atanas Kolev ◽  
Alexander Popov ◽  
Marcin Wolski
Keyword(s):  
Agency Problems ◽  
Growth Opportunities ◽  
Data Set ◽  
European Firm ◽  
Weak Evidence ◽  
Zombie Lending ◽  
Matched Data ◽  
Global Growth

Using a pan-European, firm-bank matched data set, we find weak evidence of investment misallocation in Europe. Firms with higher debt overhangs invest significantly less, in particular in sectors that are facing good global growth opportunities. We also find that firms with higher debt overhangs are more likely to invest if they borrow from undercapitalized banks, and this effect is particularly strong in industries facing good global growth opportunities, suggesting a misallocation of investment associated with ‘zombie lending’. Our results are consistent with theories of investment misallocation due to agency problems at firms and at banks.

China's economy will struggle to halt secular slowdown

2021 ◽  
Keyword(s):  
High Speed ◽  
Regression To The Mean ◽  
Content Type ◽  
Strong Force ◽  
Global Demand ◽  
The Mean ◽  
Productivity Gains ◽  
Global Growth ◽  
China’S Economy

Significance Comparisons with two formerly fast-growing Asian neighbours, Japan and South Korea, suggest that China will continue to slow for another decade. Analysis of global growth trends over 50 years points to a strong force of ‘regression to the mean’, meaning that continued high-speed growth is statistically unlikely. Impacts Continued Chinese economic slowing will reduce global demand for resources such as iron ore and coal. Achieving productivity growth will require deepening reforms to increase the role of the market, the private sector and competition. World Bank economists emphasise that imposing stricter financial discipline is a key step to enhancing market-based productivity gains.

scholarly journals IMPACT OF DIVIDEND PAYOUT ON FIRM’S PERFORMANCE UNDER LOW GROWTH OPPORTUNITIES

2021 ◽  
Vol 9 (3) ◽  
pp. 1156-1165
Author(s):  
Taymoor Ali ◽  
Muhammad Kashif Khurshid ◽  
Adnan Ali Chaudhary
Keyword(s):  
Stock Exchange ◽  
Manufacturing Sector ◽  
Secondary Data ◽  
Financial Statements ◽  
Manufacturing Firms ◽  
Growth Opportunities ◽  
Dividend Payout ◽  
Relationship Of ◽  
The Relationship

Purpose of the study: The objective of the study was to investigate the relationship of the dividend payout on a firm's performance under low growth opportunities from the manufacturing sector of Pakistan. Methodology: A sample of 251 firms out of 378 manufacturing firms listed at the Pakistan Stock Exchange (PSX), have been carefully chosen for the era of ten years from 2006 to 2015. The secondary data was obtained from the firm’s web financials and analysis of financial statements, published by the statistics department of the State Bank of Pakistan. For the persistence of investigation panel data (fixed effect) analyses were employed in this study. Main Findings: The fallouts of the analysis revealed that the dividend payout ratio has an insignificant relationship with the firm's performance in the low growth perspectives of the study. Applications of this study: The findings of the study are helpful for the financial managers of the firms facing low growth opportunities. Furthermore, the investors in capital markets can use the findings of this while investing. The originality of this study: The study focussed on the role of low growth opportunities while studying the nexus of dividend pay-out and the firm’s financial performance which inherits the novelty and originality of the study.

Hierarchical financing and reality of the financial structure of Moroccan listed companies

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Firano Zakaria ◽  
Doughmi Salawa
Keyword(s):  
Stock Exchange ◽  
Financial Structure ◽  
Order Theory ◽  
Debt Ratio ◽  
Growth Opportunities ◽  
Pecking Order ◽  
Positive Role ◽  
Pecking Order Theory ◽  
Content Type

Purpose There is a wealth of literature on the financing structure of a company. For this reason, the authors considered it useful to present a theoretical and empirical literature review of classical and new theories of the financial structure. The purpose of this study is to realize on a panel of 15 nonfinancial Moroccan companies listed on the Casablanca Stock Exchange, over a period of 11 years. Design/methodology/approach The results obtained indicate that only a few variables from financial theory have an important role in the financing policy of Moroccan companies. The authors have presented the positive role of size and self-financing on the debt ratio. The analysis of the effects of profitability shows in this study that it is negative related on the debt ratio which asserts the predictions of the pecking order theory. Also, the age of the company and the growth opportunities explain the level of indebtedness. Findings Econometric analysis is used to ascertain the nature of the financial structure of listed companies. For this purpose, a large number of companies listed on the Casablanca stock exchange were used. Originality/value The authors have presented the positive role of size and self-financing on the debt ratio. Regarding the influence of profitability, this analysis shows that it is negative related on the debt ratio which asserts the predictions of the pecking order theory. Also, the age of the company and the growth opportunities explain the level of indebtedness.

scholarly journals Global Growth Opportunities and Market Integration

2004 ◽  
Author(s):  
Geert Bekaert ◽  
Campbell Harvey ◽  
Christian Lundblad ◽  
Stephan Siegel
Keyword(s):  
Market Integration ◽  
Growth Opportunities ◽  
Global Growth

H. J. Heinz M&A

2017 ◽  
pp. 1-25
Author(s):  
David P. Stowell ◽  
Nicholas Kawar
Keyword(s):  
Strategic Decision ◽  
Strategic Decision Making ◽  
List Type ◽  
Investment Bankers ◽  
Outstanding Debt ◽  
Future Consequences ◽  
Transaction Value ◽  
The Impact ◽  
Global Growth

During December 2012, Jorge Paulo Lemann, a co-founder and partner at 3G, proposed to Warren Buffett that 3G and Berkshire Hathaway acquire H. J. Heinz Company. Lemann and Buffett, who had known each other for years, jointly decided that the Heinz turnaround had been successful and that there was significant potential for continued global growth. 3G informed Heinz CEO William Johnson that it and Berkshire Hathaway were interested in jointly acquiring his company. Johnson then presented the investors' offer of $70.00 per share of outstanding common stock to the Heinz board.After much discussion, the Heinz board and its advisors informed 3G that without better financial terms they would not continue to discuss the possibility of an acquisition. Two days later, 3G and Berkshire Hathaway returned with a revised proposal of $72.50 per share, for a total transaction value of $28 billion (including Heinz's outstanding debt).Following a forty-day “go-shop” period, Heinz, 3G, and Berkshire Hathaway agreed to sign the deal. But was this, in fact, a fair deal? And what might be the future consequences for shareholders, management, employees, and citizens of Pittsburgh, the location of the company's headquarters? Last, what was the role of activist investors in bringing Heinz to this deal stage?After reading and analyzing the case, students will be able to: Understand the influence of investment bankers on M&A transactions Consider synergies that drive M&A Consider the role of activist investors in corporate strategic decision-making Understand the impact of M&A on key corporate stakeholders Apply core valuation techniques to support M&A valuation

A Framework for Identifying Global Growth Opportunities

1995 ◽  
Vol 4 (3) ◽  
pp. 17-24
Author(s):  
Lawrence S. Speidell
Keyword(s):  
Growth Opportunities ◽  
Global Growth
Sign in / Sign up

Export Citation Format

Share Document