Deneme Sınavı Soruları

Liquidation Value

Book Value

Net Asset Value

Market Value

Terminal Value

Nominal exchange rate

Ordinal exchange rate

Real exchange rate

Real effective exhange rate

Ordinal effective exchange rate

A company can repurchase stock to distribute excess cash without changing the amount of dividends. 


When a company has more equity than its target capital structure, the company can directly change its capital structure by repurchasing. 


A company cannot repurchase stock to minimize the “dilution effect” associated with exercising the stock options that have been given to employees as bonuses. 


Due to the signaling effects, stock repurchase is perceived as a positive signal that the company’s stock is undervalued in the financial markets 


Repurchases have a tax advantage over dividends due to the deferred tax on capital gains.

Constraints on dividend payments

Investment opportunities

Alternative sources of capital

Ownership dilution

Amount of common stock about dividend share

It refers to the current state of firms

It is the direct offer of the acquiring firm to stockholders of the target firm, to buy their stocks

is the process of bargaining between the acquiring firm and the target firm aimed at coming to an agreement over the terms, needs and aims of both parties

It occurs when managements of both the acquiring firm and target firm approves the terms of merger or acquisition, and state it to stockholders

It occurs when the management of the target firm resists the merger or acquisition. The acquiring firm then needs to make a direct appeal on stockholders of the target firm

It is about risk and return tradeoff between cash and stocks

It refers to the value of all future cash flows expected from a company

It is about making rapid changes in the organization of the acquired company

It is the need for integrating in order to benefit from synergy

It is about trying to learn from the experiences of the acquired

Optimum payout policy

Birth in the hand theory

Dividend irrelevance theory

Target distribution ratio

Tax preference theory

the size of the international trade barriers

Open-market repurchase

Tender Offer

Dutch auction

Targeted Repurchase

Close-market Repurchase

Auction

Buyback

Tender offer

In-house sale

Targeted repurchase

Tax preference dividend theory

Residual dividend policy

A stable dollar dividend per share policy

I and II

II and III

I, II and IV

II, III and IV

I, II, III and IV

Market risk

Credit risk

Operational risk

Political risk

Liquidity risk

Financial leverage

Financial risk

Debt

Equity

Degree of operating leverage

When the average cost of capital is maximized, the firm value is mminimized.

The managers don't have to maximize the shareholders’ wealth by maximizing the value of the firm

Financial distress or bankruptcy costs refrain firms from abundant debt financing

agency problems may arise if managers pursue different objectives other than those of the shareholders

managerial discretion may convey signals to outside investors other than the decisions on the surface

Cost of capital

Cost of debt

Cost of equity

Cost of common equity

Mrginal cost of capital

When an equity investor agrees to invest in your company, they invest in exchange for ownership in the business.

Equity financing is the process of raising capital through the sale of shares in an enterprise, and so raised equity funds from their shareholders

Equity financing involves the sale of the company's stock and giving a portion of the ownership of the company to investors in exchange for cash.

It starts with the fact that equity is riskier than debt. Because a company typically has no legal obligation to pay dividends to common shareholders, those shareholders want a certain rate of return. 

Debt is much less risky for the investor because the firm is legally obligated to pay it.

The value of the debts

The value of the firm

The sum of the firm's equity

The net working capital of the firm

The average cost of capital of the firm

I and II

I and IV

II and III

I, III and IV

I, II, III and IV

Capital budgeting

Capital expenditure

Incremental cash flow

Opportunity cost

Sunk cost