Does Firms’ Equity Financing Benefit Debtholders? Evidence from Private Placements of Equity

2021 ◽  
Author(s):  
Jun-Koo Kang ◽  
Jee Youn Koh ◽  
James Park
Keyword(s):  
Equity Financing ◽  
Private Placements

Yankee Bonds and Cross-Border Private Placements: An Update

CFA Digest ◽  
2001 ◽  
Vol 31 (3) ◽  
pp. 34-36
Author(s):  
William A. Barker
Keyword(s):  
Cross Border ◽  
Private Placements

FUNDAMENTAL CAPITAL FINANCING OF PRODUCTION

2020 ◽  
Vol 8 (3) ◽  
pp. 74-78
Author(s):  
Farrux Zulfiyev ◽  
Keyword(s):  
Raw Materials ◽  
Economic Reforms ◽  
Equity Financing ◽  
Capital Financing ◽  
The Republic ◽  
The Stability

This article is based on the principles of shared financing of the production of raw materials. The article is aimed at financing the production of capital on the basis of equity in order to further strengthen the stability of economic reforms in the republic. At the same time, the essence of equity financing, the risks associated with it, and the efficiency of raw materials are covered

Islamic Banking and Finance in Theory and Practice

2005 ◽  
Vol 22 (2) ◽  
pp. 69-86 ◽  
Author(s):  
Abdus Samad ◽  
Norman D. Gardner ◽  
Bradley J. Cook
Keyword(s):  
Financial System ◽  
Primary Objective ◽  
Theory And Practice ◽  
Islamic Banking ◽  
Relative Importance ◽  
Islamic Banks ◽  
Equity Financing ◽  
Banking And Finance ◽  
Financial Products ◽  
Islamic Bank

This paper’s primary objective is to identify the relative importance of various Islamic financial products, in theory and in practice, by examining the financing records of the Bank Islam Malaysia (Berhad) and the Bahrain Islamic Bank. Currently, seven available Islamic financing products are considered viable alternatives to interest-based conventional contracts: mudarabah (trust financing), musharakah (equity financing), ijarah (lease financing), murabahah (trade financing), qard al-hassan (welfare loan), bay` bi al-thaman al-ajil (deferred payment financing), and istisna` (progressive payments). Among these financial products, mudarabah and musharakah are the most distinct. Their unique characteristics (at least in theory) make Islamic banks and Islamic financing viable alternatives to the conventional interest-based financial system. The question before us is to determine the extent of mudarabah and musharakah in Islamic financing in practice. The data are as follows: the average mudarabah is 5% of total financing, and the average musharakah is less than 3%. The combined average of mudarabah and musharakah for the two Islamic banks is less than 4% of the total finance and advances. The average qard al- hassan is about 4%, while istisna` does not yet exist in practice. Murabahah is the most popular and dominates all other modes of Islamic financing. The average use of murabahah is over 54%. When the bay` bi al-thaman al-ajil is added to the murabahah, the percentage of total financing is shown to be 2.68%. This paper also explores some possible reasons why these two Islamic banks appear to prefer murabahah to mudarabah and musharakah.

Finance and Investment: The European Case

2018 ◽  
Keyword(s):  
Sovereign Debt ◽  
Large Body ◽  
Policy Research ◽  
Financial System ◽  
Research Programme ◽  
Policy Formulation ◽  
Contributory Factor ◽  
Data Sets ◽  
Equity Financing ◽  
Body Of Knowledge

This book is the product of a two-year research programme entitled Restarting European Long-Term Investment Finance (RELTIF), organized by Assonime and the Centre for Economic Policy Research (CEPR) in London. The programme brought together leading researchers from across the world to consider the causes of the persistently low level of investment in Europe, to examine the extent to which the financial system was a contributory factor and to identify possible policy remedies for it. It considered the relation of finance to corporate sector investment, the lending behaviour of banks, the provision of equity financing, the role of public sector institutions, regulation, and taxation. The chapters in this volume provide one of the most comprehensive and thorough analyses of any financial system that has been undertaken to date. They reflect a large body of research using new and existing data sets, employing advanced empirical tools, and exploiting the unique insights provided by the tumultuous events of the financial and sovereign debt crises. Together they comprise an exceptional body of knowledge to advance academic thinking and guide policy formulation in the future.

Private Placements in the Capital Markets Union

2018 ◽  
Author(s):  
Frank GB Graaf
Keyword(s):  
Capital Markets ◽  
Alternative Source ◽  
Private Placement ◽  
Private Placements ◽  
Capital Markets Union

This chapter looks at recent initiatives in the context of the European Commission's flagship plans for a Capital Markets Union (CMU) designed to encourage a pan-European private placement market. In reality, private placements are mainly available as a funding tool for medium-sized and larger companies. Nonetheless, private placements are regarded by CMU's policymakers as an alternative source of long-term funding, which is simple enough for smaller corporates and small and medium-sized enterprises (SME), and with benefits that they might find attractive. The Commission's initial intention in the design of a CMU was to enable a greater use by SMEs of private placements.

scholarly journals Internal risk financing with special reference to contingency funds

2003 ◽  
Vol 6 (2) ◽  
pp. 274-288
Author(s):  
F. J. Mostert
Keyword(s):  
Special Reference ◽  
Risk Control ◽  
Insurance Companies ◽  
Equity Financing ◽  
Holding Companies ◽  
Non Profit ◽  
Operating Profit ◽  
Physical Risk ◽  
Current Operating ◽  
Modelling Approach

Enterprises can manage risks in two fundamental ways, namely by physical risk control and by risk financing. The latter comprises external and internal risk financing. As this paper focuses on the latter of these concepts, due attention is paid to the main forms of internal risk financing. Charging losses to current operating profit, arranging loan facilities and implementing equity financing programmes are different forms of internal risk financing. The nature, advantages and various types of captive insurance companies are considered as holding companies can utilise this form of internal risk financing. Special attention is paid to the use of contingency funds as a way of internal risk financing by applying a modelling approach. The conclusions reached should be valuable to business enterprises in particular, but also to non-profit organisations and individuals.

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