Deneme Sınavı Soruları

Exporting

Licensing

Franchising

Contract Manufacturing and Service Provision

International Joint Venture

Stock dividend


Stock split


Purchase date

Stock repurchase

ex-dividend date

İnternational trade

İnvestments and credits

Speculation

Balancing

Loan

Buyer Effect

Customer Effect

Clientele Effect

Patron Effect

Purchaser Effect

Declaration date

Payment date

Ex-dividend rate

Record date

Optimal payout date

accidents

equity risk

credit spread risk

interest rate risk

default risk

Franchising

Vertically integrated multinational corporation

Oligopolistic structure

Conglomerate multinational corporation

Horizontally integrated multinational corporation

It is the need for integrating in order to benefit from synergy is characterized as low or high

It refers to the degree of how well merged companies integrate their activities, operations and culture

It refers to failure of management in the post acquisition integration process

It refers to capability of a negotiating party to change the deal in accordance with their request, or affect the outcome of negotiation

It is the managing capabilities of financial managers and success/failure of M&A deal

Quantifying Risk 

Liquidity Risk 

Operational Risk 

Credit Risk 

Market Risk

It states that a company’s value will be maximized by setting a high dividend payout ratio.

It states that MM’s argument holds both for any increase and decrease in dividends.

It states that there are no conflicts of interest between managers and owners.

It states that there are no taxes and transaction costs.

It states that the markets are perfectly efficient.

Distribution ratio

Payout ratio

Price/earning ratio

Earning per share ratio

Price to book value ratio

Acquisition Premium

Net Asset Value

Liquidation Value

Tender Offer

Fair Value

A decentralized corporation with a strong presence in its home country

A global, centralized corporation that acquires a cost advantage where cheap resources are available

A global company that builds on the parent corporation’s research and development
efforts

A transnational enterprise that uses all three categories mentioned above.

local, centerless corporation that acquires a cost advantage where cheap resources are available

Internal cash flow is generated from retained earnings and depreciation.  

Internal cash flow is existing capital structure of the company,

Internal cash flow is availability of security.

These are generally in the forms of bank borrowing,

Internal cash flow is capital expenditures.

Payback period

Discounted payback period

Net present value

Initial rate of return

Modified internal rate of return

I and II

I, II and III

I, IV and V

I, II, IV and V

II, III, IV and V

Bankruptcy risk negatively affects the value of a firm.

The before-tax cost of debt increases which makes debt financing more costly.

The stockholders holding residual claims in sharing the earnings and assets demand a higher yield.

The cost of the funds raised by the company reduces the weighted average cost of capital (WACC).

The rising probability of bankruptcy heighten the risk borne by the stockholders.

By the time the changing interest environment in the international financial markets, floating rate bonds (floaters) began to be issued in which, the coupon payments are adjustable.

A floating rate bond, where the bond has five years until maturity.

Some characteristics of the floaters have been developed in order to protect the investors.

A floating rate fund is a fund that invests in financial instruments paying but a fixed interest rate.

Floating rate notes  are bonds that have a variable coupon, equal to a money market reference rate.

Government bonds

Callable bonds

Convertable bonds 

Premium bonds

Securitized bonds 

Capital markets are perfect with rational investors that can freely buy and sell assets.

Investors have homogenous expectations.

Investors and companies can borrow at the same rate with no restrictions.

Operating income (EBIT) is increasing by the use of debt.

Well-informed investors have the option to arbitrage.