BUSF_A01.qxd

Chapter 8 • Sources of long-term finance There is no particular reason for asset-backed finance and securitisation to be a probl ...

Leasing from the large first-year allowance. This was particularly true where recession re- stricted profitability. With leasing ...

Chapter 8 • Sources of long-term finance Only by coincidence will the appropriate discount rate be equal to the rate inherent in ...

8.12 Conclusions on long-term finance British Airways plcuses HP arrangements. At 31 March 2007, 31 per cent of the air- line’s ...

Chapter 8 • Sources of long-term finance However, the situation in real life is probably not quite as suggested by Figure 8.1 (p ...

Summary lRights issue =issue to existing shareholders at a discount on the current mar- ket value. Shares offered pro rata to ex ...

Chapter 8 • Sources of long-term finance l Loan notes easy to liquidate if listed on a stock exchange; otherwise could be diffic ...

Review questions l This too is quite like a loan secured on the asset concerned and the factors relating to loan finance also ap ...

Chapter 8 • Sources of long-term finance (Problems 8.1 to 8.3 are basic-level problems, whereas problems 8.4 and 8.5 are more ad ...

Problems There are sets of multiple-choice questionsand missing-word questions available on the website. These specifically cove ...

9.1 Introduction The capital market is a title given to the market where long-term finance is raised by businesses and by local ...

The London Stock Exchange The existence of a secondary capital market is vital to businesses wishing to raise long-term finance. ...

exchange) and its efficiency 9 The secondary capital market (the stock screening securities before authorising them is to try to ...

The London Stock Exchange When members of the investing public wish to buy or to sell a particular security, they typically e-ma ...

Chapter 9 • The secondary capital market and its efficiency course, competing with each other for investors’ business. Those giv ...

Capital market efficiency current sense is not related to ‘efficient’ in the sense of having no specific risk (see Chapter 7). I ...

Chapter 9 • The secondary capital market and its efficiency It is interesting to note that the consensus view outperforms all in ...

Tests of capital market efficiency is again explained by the portfolio effect. It may be that contestants choose to ask the audi ...

Chapter 9 • The secondary capital market and its efficiency gain plus dividend received over a period, expressed as a percentage ...

Tests of capital market efficiency this repetition of peaks and troughs; in fact there would be a very large number of us who wo ...