In this thesis we investigate whether firms’ relationships with non-financial stakeholders affect their financing policies. We find that the firms that place a higher value on reputation for treating employees generously maintain lower debt ratios. Furthermore, we find that the firms whose business relies on major customer-supplier relationships adopt more flexible payout policies because of relationship-specific investments. Finally, we find that the high financial distress costs rather than the hold-up problem associated with relationship-specific investments affect firms’ financing policies. Overall, our results suggest that firms’ relationships with non-financial stakeholders are important determinants of their financing policies. / Thesis (Ph.D, Management) -- Queen's University, 2011-04-17 06:13:01.556

Tax Increment Financing ('11k) is becoming an increasingly popular means of financing public investment intended to stimulate private sector growth. The Indiana legislature passed TIF enabling legislation in 1975. However, in 1980 there were no cities using TIF in Indiana. By 1989, ten cities and four counties were sponsoring TIF districts and total incremental assessed value (AV) in those districts was approximately $69,000,000. By 1992, thirty-one cities and six counties were sponsoring TIF districts,with total incremental AV amounting to over $367,000,000.Previous TIF studies have investigated the relationship between TIF and variables such as population and economic growth rates. No previous study has attempted to survey and identify various forms of TIF. The identification and understanding of the many forms of TIF is an essential component of judging the effectiveness of TIE. This study surveys all jurisdictions implementing TIP within the state of Indiana. The TIF districts are then grouped in logical fashion. Principal groupings include: method of designation; purpose; and method of finance. Once grouped into the logical categories the various forms of TIF will be analyzed from both a subjective public policy perspective and an empirical analysis of TIF's effect on local AV growth rates. / Department of Urban Planning

The rationale for this thesis stems from three interlinked issues. First, there is a general recognition of the importance of the small firm sector and the value of its contribution to the health of economies across the globe. Second, the provision of external finance for growing small firms in developed and developing countries has improved significantly over the last few years in terms of both the total of funds and the range of financial facilities available. Third, despite this rapid expansion in the range of public and private sector financial initiatives, there is widespread perception that financing difficulties continue to exist, difficulties which are perceived to be major obstacles or constraints on small firm growth. This thesis aims to contribute to a better understanding of the practices and problems of financing the growth of small firms in developed and developing countries with particular reference to the United Kingdom (U.K.) and Malaysia. In pursuing the main l objective, empirical study attempts to investigate the characteristics of small firms and their owner-managers, as well as the growth orientation of the firms and the extent to which these characteristics are associated with the need for, and use of, external sources of finance and with the existence of difficulties in obtaining the finance. Subsequently, comparative investigation between the two countries explores the similarities and differences with respect to the sources and patterns of finance as well as the difficulties in raising finance. Having identified the important variables in the theoretical framework of the study, the relationships among the variables are established and research hypotheses are generated. In order to achieve the main objective ofthe study, the empirical investigation was conducted using two research strategies: questionnaires and case studies. Nonparametric gamma and chi-square statistics are used in analysing the empirical results. Two major findings emerge from this study. First, the overall characteristics of firms and owner-managers have no association with the need for, and sources of external finance and the existence of difficulties in raising finance; whereas growth of the firms can be associated with the sources of external finance and the existence of financing difficulties. Second, whilst there is a significant difference in the need for external finance by growthoriented small firms in the U. K. and Malaysia, both the sources/patterns ofexternal finance and the difficulties experienced by small firms in the two countries are not markedly different.

Thesis (M.B.A.)--Boston University

This paper is a follow-up to the 2012 efforts of John Fife that identified Community Development Financial Institution-led food retail intervention policies as the most effective in bringing supermarkets to underserved urban areas. Specifically cited in the conclusion was the success of the Pennsylvania Fresh Food Financing Initiative. To further this research, this paper will utilize a similar structured inquiry to evaluate CDFI-led policies that were implemented during or since the FFFI program. Through five case studies (Pennsylvania (updated), California, Colorado, New Orleans, and New York) this paper examines the creation and results of several different retail intervention policies. Each case study provides the conditions predicating the need to improve food access and the policy instruments used to address the issues. The paper assesses the policies based on eight features: strategy components, aeris rating, funding stream, viability, duration, scope, cost-effectiveness, and replicability. The analysis compares the cases to determine the most successful and replicable policy used to address the food access issues plaguing urban areas commonly referred to as food deserts. The paper makes several conclusions regarding CDFI-led retail intervention policies. Successful retail intervention policies require strong and stable CDFI's administering policy funds to sustain operations. The geographic scope of the policy, in terms of statewide versus citywide, does not alter the potential of a policy so much as population density. The overall fund size and thus size of funding packages available to individual projects must be complementary to available funds on the market, which varies by area. Finally, policies are most effective with sufficient seed funding that carries few regulations or compliance requirements. / 0 / SPK / specialcollections@tulane.edu

The aim of this thesis was to create an overview and comparison of sources of corporate financing with regard to the synthesis of economic and legal theory and practice. The result is a brief overview of the sources of corporate financing, which is useful for one-study candidate, for whom it represents an opportunity to become acquainted with the problems that it is closely related to their focus, but often in a single-subject publications is not fully discussed. Secondly the thesis is a useful study tool t for those interested in a comprehensive familiarization with the problems on the border between the economic and legal field. Within the legal field, I have focused on a list of the most important changes in connection with the recodification of private law in the Czech Republic. The aim of this thesis is certainly not to pursue individual aspects at the highest possible detail. In the first chapter, I firstly laid terminological and theoretical basis of the work, so that the reader is already familiar in the introduction to the nomenclature, and the differences arising from differences in the use of terms within the legal and economic theories. I also explicated terms of financial management and basic types of split of financing. In the second chapter, I focused on basic economic factors...

abstract: 本文选取当前在学界和业界关注度较高的“新三板”企业作为研究对象，从融资效率和融资偏好角度实证了新三板企业当前的运行状况，补充了资本结构和融资效率的研究文献。利用二元选择回归以及分位数回归方法，探究了内部融资、债务融资以及权益融资偏好的影响因素。本文发现：1）对于内部融资，企业资产负债率越低、经营能力越强、盈利能力越好、抵押品越少以及公司成长性高的企业更倾向于使用内部融资，资产负债率对内部融资的负面影响边际增大；2）对于债务融资，资产负债率越低、盈利能力越好、经营能力越强、抵押品越多、公司成长性高的企业更倾向于使用债务融资；3）对于权益融资，盈利能力较差、经营能力较弱的企业更倾向于使用权益融资，而资本结构以及公司成长性对权益融资没有影响。分位数回归也发现，盈利能力、现金状况、总资产周转率、资产流动性、非债务税盾、民营企业以及公司成长性等变量对权益融资的影响较为稳定，提示公司的特征变量对权益融资并没有明显的主导作用。在融资效率上，本文也发现：1）于2012年挂牌新三板的企业整体融资效率不高，DEA融资效率为有效的企业占比仅为10%左右；但融资效率在逐年持续改善，表现出一个较好的发展势头。并且，对于做市转让的企业来说，2014年由协议转让改为做市转让以后，融资相对有效的企业数量增长明显快于协议转让企业，表明采用做市转让的企业融资效率优于采用协议转让的企业。2）市场整体融资规模并未达到挂牌企业的需求，导致一半以上企业尚未达到最优的生产经营状态，仍需要资金来增加生产资料的投入，以扩大生产规模获取规模收益。对于做市转让的企业来说，在2014年由协议转让改为做市转让以后，规模报酬递增的企业数量占比下降更快，表明做市转让制度要比协议转让制度从融资效率角度更能满足新三板企业的融资需求。 / Dissertation/Thesis / Doctoral Dissertation Business Administration 2019

When managers face the choice of decision-making financing tool, how to assess the status of the selected company's corporate profit and shareholder equity of the financing tool for maximizing. This study focused on the Taiwan Listed electronic industry, ownership structure and the different financing tools on the issue of the impact of corporate performance The data are using Taiwan Stock Exchange Market Observation Station of the company's financial number, Taiwan Economic Journal database of financial information of listed companies and various listed electronics company Annual Reports. The use of statistical analysis methods, including: t test, one way analysis of variance, and correlation and regression analysis. The results as below: 1. Electronic industry financing tool for the proportion of ownership structure and financing impact; 2.Electronic industry financing tool have an impact on business performance; 3. Electronic industry financing ratio will be part of the performance indicators impact; 4. Electronic industry financing tool part of the index change over time; 5. Electronic industry and mostly the equity structure will change with time; 6. Electronic industry financing percentage change over time.

Thesis (Ph.D.)--Drexel University, 2010. / Includes abstract and vita. Includes bibliographical references (leaves 124-130).

Orientador: Eduardo Fagnani / Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Economia / Made available in DSpace on 2018-08-18T02:26:14Z (GMT). No. of bitstreams: 1 Neves_FernandoJunqueira_M.pdf: 2691016 bytes, checksum: 87cb3594d755a1c09d87dec0ed4af4e6 (MD5) Previous issue date: 2011 / Resumo: Os setores conservadores jamais aceitaram o notável pacto social estabelecido pela Constituição de 1988. Resistem, desde então, a aceitar o que reza a Constituição da República, sobretudo nas conquistas no campo da Seguridade Social, da qual a Previdência Social é parte integrante. O presente estudo tem como objetivo geral apresentar um contraponto à visão conservadora e refutar a tese de que o sistema previdenciário brasileiro é excessivamente oneroso para o Estado e que, em um futuro breve, será o responsável pela ingovernabilidade fiscal no país. O capítulo 1 trata das principais conquistas da Carta de 1988 e do importante papel da Seguridade Social na proteção social e na distribuição da renda - fato, esse, totalmente ignorado pelos adeptos da visão conservadora. O capítulo 2 procura desenvolver o argumento de que a natureza da questão do financiamento da Previdência Social é preponderantemente exógena, isto é, está mais relacionada ao estreitamento das fontes de financiamento do sistema, consequência das opções macroeconômicas adotadas nas últimas décadas baseadas em baixo crescimento econômico, que desorganizaram o mercado de trabalho e estreitaram as bases de financiamento da Previdência. O capítulo 3 ressalta que a trajetória de crescimento das despesas previdenciárias ocorridas nos anos 1990 e, parcialmente, na década seguinte foi atípica e que esse ritmo de crescimento não prosseguirá nas próximas décadas, como pregam os setores conservadores, o que levaria o País à catástrofe fiscal em futuro próximo. O capítulo 4 procura demonstrar como a difundida tese da falência da previdência social brasileira, devido ao seu suposto ?déficit explosivo?, não se sustenta à luz da Constituição Federal. Uma análise das contas da previdência social de acordo com os preceitos definidos em 1988 mostra como o mito do déficit na previdência social se desfaz e novas possibilidades de financiamento da previdência se abrem / Abstract: The conservative sectors have never come to terms with the remarkable social pact that was established with the Constitution of 1988. They have since resisted to accept what the Constitution of the Republic has established, especially when it comes to accomplishments in the welfare realm, which encompasses the area social security. In general terms, this study aims at presenting a counter-argument to the conservative view, and contesting the thesis that states that the Brazilian social security system is excessively burdensome to the State, and may, in the near future, become responsible for the country's fiscal ungovernableness. The first chapter deals with the main achievements of the 1988 Magna Carta, and with the important role played by the social security system in terms of social protection and income distribution - which has been completely ignored by those following the conservative point of view. The second chapter aims at developing the argument that the nature of the issue of finance is mostly exogenous, i.e., it is more closely related to the narrowing of the social security system's financing sources - a consequence of the macro-economic choices made in the last decades, with a basis on the low economic growth experienced - that disorganized the labor force and narrowed the social security financing bases. The third chapter highlights that the growth course of pension expenses which occurred in the 1990's and in part of the following decade was atypical, and that this growth rhythm will not proceed in the next decades - as the conservative sectors support -, which would lead the country to a fiscal catastrophe in the near future. The fourth chapter demonstrates that the widespread thesis of the Brazilian social security failure, due to its assumed ?explosive deficit?, is not supported under the light of the Federal Constitution. An analysis of the social security accounts as per guidelines defined in 1988 shows how the myth of the deficit comes apart, and new financing possibilities come to light for the social security system / Mestrado / Economia Social e do Trabalho / Mestre em Desenvolvimento Econômico