• Corporate Bond Market in India: Issues and Challenges - This paper was written by Amarendra Acharya and was published by Reserve Bank of India Occasional Papers (Vol.32, No.3) in winter edition of 2011. The paper focuses to minimize the difference in literature of corporate debt market in India. It delineated the recommendation given by R.H. Patil committee on corporate bond and securitization. The paper uses empirical method to analyze how corporate bond market segment responds to monetary policy transmission through Structural Vector Auto Regression during deficit liquidity conditions and is protected from foreign influences.
• The Corporate Debt Market in India- This paper was written by V.K. Sharma and C. Sinha and was published by BIS papers, No 26, 80-87 in 2006. They highlighted the limitations of supervised, regulated, capitalized and managed banking system in India. They also gave framework for some of the prerequisites for development of corporate bond market in India. They also discovered that same set of institutions act as investors and borrowers in this market. Howev...
Also, the usage of high yield bonds securities for financing became popular during the 1990s in foreign markets such as Latin America, Asia, and Europe showing the rise in international appeal for these kinds of securities. However, outside of the U.S the high yield market has taken a longer time to become popular and thus there is still room for the development of high yield bonds within financial markets in emerging countries. It is safe to determine that the market for high-yield bonds will always be in existence since it is a viable alternative for many fast growing firms to acquire financing and is a rewarding option for investors. The key to the still growing, strong market demand for high yield bonds is based on linking the [U.S.] economy’s constant desire for capital with investors’ desire for higher returns on their investment.
There is no universal theory of the debt-equity choice, and no reason to expect one. In this essay I will critically assess the Pecking Order Theory of capital structure with reference and comparison of publicly listed companies. The pecking order theory says that the firm will borrow, rather than issuing equity, when internal cash flow is not sufficient to fund capital expenditures. This theory explains why firms prefer internal rather than external financing which is due to adverse selection, asymmetry of information, and agency costs (Frank & Goyal, 2003). The trade-off theory comes from the pecking order theory it is an unintentional outcome of companies following the pecking-order theory. This explains that firms strive to achieve an optimal capital structure by using a mixture debt and equity known to act as an advantage leverage. Modigliani and Miller (1958) showed that the decisions firms make when choosing between debt and equity financing has no material effects on the value of the firm or on the cost or availability of capital. They assumed perfect and frictionless capital markets, in which financial innovation would quickly extinguish any deviation from their predicted equilibrium.
If Louis Riel who supported the Metis was alive today, which book would he choose as the best one to help improve the global quality of life? There are many great books that he can choose to remind us of the social issues the world face everyday. These books cause readers to challenge these issues to improve the global quality of life. One of these many books that would standout for Louis Riel is The Inconvenient Indian by Thomas King. In the book, King reflects on the mistreatment of Native Americans by using irony and criticisms. The book brings up the issues Native minorities in North America have faced throughout the past centuries. Riel would support these criticisms to advice the world to prevent future mistreatment of Native minorities
Technology, since the close environment and low-level of life quality. The native American usually had the life which obviously did not follow the corresponding time trend, they did not have the extensive eyesight compared with those white immigrants. Therefore, as the consequence, the native American did not have the advanced technology to develop the careers and improve their life standard. They lived with the way of originality.
Indian Wars were mostly armed conflicts experienced between the years 1860 to 1890. It was primarily between the Native Americans and the European settlers . The main cause of the war could be blamed to the greed of the settlers. The reason for blaming it on the greed is because they were always fighting for resources like land in particular.
The Mughal’s expansion of India began in 1526, when the first Mughal emperor, Babur, invaded Hindustan, known as north India during the time of the attack. Before his invasion of India, Babur, at the age of 15, conquered Samarkand, also known as “the pearl of the Eastern Muslim world”. However, Babur failed to keep the city under his regime and was disposed of by the Uzbeks. Shortly after being kicked out of his own empire, Babur gathered a large group of soldiers and set his eyes on Kabul, the capital of Afghanistan. When Babur arrived in India, he was very displeased with the foods within the land.
Even though HHSC is such a wonderful place that provided me with very fond memories, relationships that will last forever, and has shaped the person I am today, there are a few things I would add or change. One being clubs. I do like the four clubs we have but instead of each camper being in only two clubs I think every camper should participate in three clubs instead of only two. Instead of having hour long clubs like we do now, having three 40 minute clubs seems more ideal. This will ensure that the campers are focused and are more motivated in what they are doing. I felt like last year when my fellow counselors and I ran India club we had so much wasted time that could have been used on other tasks. Having three clubs periods that lasted
Debt capital refers to money borrowed. Examples of this include bonds and short-term commercial paper. Bonds are more widely used because it provides a company with years to come up with the principal while paying interest only. Bonds are rated (i.e. AAA, AA, BB, etc.), these ratings correspond to the risk of default. The higher the rating, the lower likelihood of default and therefore a lower interest rate accepted by the lender. Short-term commercial paper is typically...
[6] Kripalani, Majeet & Egnardio, Pete. The Rise Of India. Business Week Online. December 8, 2003. http://www.businessweek.com/magazine/content/03_49/b3861001_mz001.htm
Capital structure theory studies firm’s financing structure and the factors influencing capital structure. Bulk literature focus on trade-off and pecking order theory to explain firm’s debt financing decisions. These studies have already identified certain key determinants of capital structure, such as firm size, growth opportunity, profitability and tangible assets, etc. Other than these common determinants, agency theory as proposed by Jensen & Meckling (1976) argues that, agency cost arising from the conflicts of interests between managers and shareholders also influence firm’s capital structure. Regarding to the well research of other two capital structure theories, this study mainly focus on agency theory and try to find out agency costs related determinants which influence firm’s capital structure decisions.
This paper would analyze the different types of bank guarantee, i.e., conditional and unconditional bank guarantee and would also highlight the differences between general guarantee as defined under Section 126 of the Indian Contract Act, 1872 and a bank guarantee. It would also delve into the discussion about the conditions under which the courts would grant injunctions restraining a bank from enforcing a bank guarantee. Alongside, this paper would also bring to light the significant difference between the Indian law and the common law in relation to the way they deal with injunction of bank guarantee.
The fourth largest sector in the Indian economy is all set for 16% growth during 2008-09, from a base of Rs. 85470 crores, as predicted by FICCI. Going forward, as anticipated by CRISIL, FMCG sector will touch around Rs. 140000 crores by 2015 (33.4B$).
The capital structure of a firm is the way in which it decides to finance its operations from various funds, comprising debt, such as bonds and outstanding loans, and equity, including stock and retained earnings. In the long term, firms seek to find the optimal debt-equity ratio. This essay will explore the advantages and disadvantages of different capital structure mixes, and consider whether this has any relevance to firm value in theory and in reality.
Vasco da Gama landed at Calicut, sailing via the Cape of Good Hope in 1498. This marked the beginning of
Indian economy is full of investment opportunities that need to be explored to earn profits. To grab the opportunities, one of the platforms is provided by stock market.