Abstract The global outsourcing has becoming the sense from various industries; Taiwan is especially the one of ideal manufacturing base which manages production costs and with demonstrating dynamic strength from the world. However, while the branding companies from Europe and Japan still dominate innovation and technologies, sequentially consider to apply local material suppliers in developments and productions. Taiwan uses to be the competitive manufacturing place, the materials are usually nominated from developers, and thus the localization of the material manufacturing shall be the trend. The material manufacturers are required to pass through necessary certificates and production procedures to establish its own design technology and production bases. Therefore the capital of material manufactures uses to be fairly high compares to the other industries. Dining into such technology era, the investments of technical¡Bfinancial resources, plus combining the unpredictable economy¡Bconsumer requirements¡Binventory¡Bproperty usage making the material manufactures challenged ever. The listed company towards the permanent operation¡Brisk management¡Bfinancial managements, the managing levels need to review internal resources and apply its core competences to achieve the financial balancing¡Brisk control to make longer run business. The motivation of this research is to apply self -industrial experiences from the past and integrate associated literatures into one. Starting from an individual new business, lead the company to integrate internal resources and apply such competences to achieve diversification .This is the investigation of a studied company which demonstrates its core competences from the industry. Last to focus on the current and the new business in which to discuss and analyze below subjects:

The business corporation is an important engine for the creation of wealth and it plays a vital role in promoting economic development and social progress in both domestic and international economies. Hence companies must operate within a governance framework that keeps them focused on their objectives and accountable for their actions. There is the need to establish adequate and credible governance arrangements. The degree of observance to the basic principles of good corporate governance is an important factor for investment decisions. / Traditional corporate doctrine has taken the separation of ownership from control as the core problem of corporate governance. On this view, the principal function of corporate law is to devise strategies and mechanisms to ensure that corporate decision-making is based only on shareholders' interests. However, corporate managers are subject to influence from many other sources. Thus, the study of corporate governance must take account of all factors that affect managerial decision-making. / In this thesis, I examine the influence that debt financing brings to bear on corporate governance and examine whether debt-holders should be beneficiaries of corporate fiduciary duties. I conclude that any such duty should be narrowly cast.

The purpose of this study was to determine if a set of twelve financial ratios developed from revenue and expenditure characteristics of Indiana public school corporations in 1998, 1999, and 2000 could forecast a district's financial condition in 2001 and 2002. The study was limited to the statutory general fund which finances a district's day-to-day instructional expenditures. A district's financial status was determined by computing a composite financial status ratio (CFSR) using the district's annual net revenues and expenditures for 2001 and 2002. The relationship of twelve independent variables was examined with the CFSR continuum using multiple linear regression analyses. The population of the study included 286 of the 293 public school corporations in Indiana. The findings of the study found: (1) 94.4 percent of Indiana's public school corporations were considered non-financially distressed and 5.6 percent were considered financially distressed; (2) four independent variables were identified as significant and practical predictors of a district's financial condition: annual spending, December 31st encumbered cash balance, biannual spending, and annual expenditures/ADM ratios; (3) three independent variables were significant; however, the variables were not considered functional predictors of a district's financial condition: personnel/annual expenditure, certified instruction/personnel expenditure, and local property tax/annual revenue; and (4) four independent variables were not significant and were unable to predict a school district's financial condition: December 31S` net cash balance, employee benefit/annual expenditure, student growth, and school size impact factor ratios. The conclusions indicate: (1) financial ratios can be utilized by administrators to forecast a district's financial condition; (2) several financial ratios capable of forecasting a district's financial condition are under the management control of administrators; (3) financial ratios vary in the period of time they are capable of predicting a district's financial condition; (4) all statistically significant financial ratios may not be consistent predictors of a district's financial condition; (5) not all financial ratios serve as predictors of a district's financial condition even though the ratios provide important financial information; and (6) combined multiple year financial data, in addition to single year data, can be utilized to enhance the model's ability to predict a district's financial condition. / Department of Educational Leadership

Thesis (Ph. D.)--University of Chicago, Graduate School of Business, August 2000. / Includes bibliographical references. Also available on the Internet.

My Diploma Thesis is focused on the various means of financing of own housing in the Slovak and Czech Republic. The definition of the legislation and methods are characterized including those necessary for the accommodation funding via building savings, mortgage, state development and housing funds and lastly, the newlywed funds. Followed-up it is necessary to define the environment, which the estates are located at, technical condition of building for the newly-wedded couple. For the paper is vital the similarity of properties for truly comparison. In conclusion the major results of the most favorable housing products when purchasing an property are aligned for both countries.

This dissertation assesses the importance of a specific debt instrument, the Certifi- cate of Obligation in the state of Texas. It conceptualizes the Certificate of Obligation as a type of contractual debt that enables local governments to finance their capital projects. This dissertation is guided by three research questions: (1) What are the various types of debt instruments employed by local governments and what are their relative advantages? (2) How prevalent is the use of a specific debt instrument such as Certificates of Obligation? And why would some local governments prefer to issue them while others do not? (3) To what extent does the local institutional environment, e.g., the executive authority of city managers in the council-manager form of government, affect debt financing behaviors of local governments? To examine the first research question, we created a typology to represent four ideal types of borrowing methods: (1) Contractual Debt, (2) Voter Approval/Special Tax Debt, (3) Guaranteed, and (4) Non-Guaranteed Debts. The typology examines whether or not the state mandates the referendum requirement for the use of each of these debt instruments, and at the same time determines whether each debt instrument is secured by multiple or single revenue sources. Using data we collected among municipal governments in Texas, we conducted two empirical analyses. The first analysis tests the hypothesis that Certificates of Obligation have higher borrowing costs compared to GO bonds, since a GO bond is often issued under the pledge of the bond issuers’ full-faith credit and taxing authority. We employed a two-stage least square analysis to test the general proposition in the state of Texas. Based on 741 Certificates of Obligation and GO bonds issued between 2008 and 2011, our analyses show that Certificates of Obligation are likely to incur True Interest Costs (TIC) similar to those of GO bonds. The second analysis explores factors explaining the use of Certificates of Obligation in 225 Texas charter cities. Based on Heckman’s two-stage, we found that a local government’s decision to issue Certificates of Obligation to be partly explained by the characteristics of local population, i.e., median household income, population growth, and the percentage of senior citizens living in the jurisdiction. In the case of GO bonds, we found that population size, property tax rate, debt burden, and the percentage of population with at least a college education, to be an important determinant of GO bonds. The volume of GO issuance by local governments was also related to the level of regional competition, i.e., government density. Additionally, we found that local political institutions matter and that they affect debt financing behaviors of local governments.

No description available.

Small business owners often do not possess the financial literacy to implement invoice factoring to fund their business. Despite that lack of knowledge, an increasing number of small business owners are using invoice factoring as their primary source of funding. Guided by a systems thinking approach, the purpose of this exploratory multiple case study was to understand the effect of invoice factoring of 5 small business owners, 5 small business finance managers, and 5 factoring program managers, all of whom managed factoring programs and technical services companies with less than $3 million in annual revenues. Participants were located in 6 states with data collected through semi-structured Skype and telephone interviews. Data were analyzed according to the Krippendorff method. Member checking and transcript review established trustworthiness and credibility of interpretations. Three themes emerged from interviews: owner eligibility for traditional capital sources, profit margins, and third-party relationships. The small business owners were not eligible for traditional funding options. Factoring administrators and small business owners cited that companies with better profit margins implemented invoice factoring successfully. Finance managers mentioned that factoring companies acted as a third-party to the invoicing and collection processes. Social implications include a contribution to the advancement of small business success rates and to an entrepreneur's preparation to launch a business venture properly.

The diploma thesis deals with the topic Financing of developers´ projects. The theoretical part is focused on the explanation of development financing, a description of a development project itselves and the financial methods for measuring the success of the project. The analytical part describes the processing of a real project focusing on financing methods and calculation of profit variants. The last section shows possible alternatives to project financing. Based on the success rate measurement of each variant, it provides recommendations for a suitable choice of developer financing.

Fastighetsfinansieringsmarknaden är i ständig förändring. Bolag söker kontinuerligt nya sätt att anskaffa kapital och på senare år har trenden att finansiera sig genom obligationer slagit på bred front i Sverige. På senare år har även diskussionen om klimathotet intensifierats och inte bara stater försöker vara hållbara och arbeta för en bättre omvärld. Med bakgrund av detta ämnar uppsatsen undersöka finansieringstrender på den svenska fastighetsmarknaden med fokus på gröna obligationer.För fastighetsbolag kan det finnas flera nyttor i att vara mer miljövänlig. De kan dels sänka driftkostnader och i förlängningen höja driftnettot och lönsamheten i deras fastigheter, men de kan också emittera gröna obligationer. De som emitterar gröna obligationer kan åtnjuta en något lägre premie än om den varit icke-grön och de får även möjligheten att kommunicera detta i sin hållbarhetsrapportering vilket ger företaget viss good-will. Det råder dock en viss oro på marknaden för bolag som kan utnyttja bristande information och kunskap för att emittera gröna obligationer och på så sätt ”åka snålskjuts” på denna förmånliga trend.Till denna kandidatuppsats har vi intervjuat företagsrepresentanter från fem stora svenska fastighetsbolag samt en från SFF som emitterar obligationer åt fem fastighetsbolag (varav ett vi intervjuat). Vi har även samlat in data om hur svenska fastighetsbolags kapitalstruktur förändrats sedan 2012. / The Capital Market for Real Estate is ever changing. Companies continuously try to find new ways to obtain financing and for the past years the trend has been for companies to go to the capital market and finance their projects with bonds. Furthermore, the climate-question has been intensified lately and companies are taking more responsibility when it comes to working towards a sustainable future. In view of this, this research paper aims to examine financing trends on the Swedish Real Estate Market with special focus on green bonds.The benefits that real estate companies can enjoy from being more environmentally sustainable are many, but the main benefits are that more sustainable buildings often result in lower operating and maintenance costs which in turn has a positive effect on the net operating income. Furthermore, companies that issue green bonds can enjoy a lower interest rate compared to those issuing regular bonds. Issuing a green bond also allows the company to communicate their sustainability work in a more natural way which in turn gives the company some good-will. Though some companies worry that there are other firms out there trying to capitalise on this green trend thus taking advantage of the work of others and attracting investors for the wrong reasons.The research has been conducted by interviewing representatives from five large Swedish real estate companies in addition to Svensk Fastighetsfinansiering, a bond issuer co-owned by five real estate companies, one which we have interviewed. Moreover, we have collected historical data of 26 Swedish real estate companies aggregated capital structure since 2012.