State about the capital structure of financial risk, Financial Management

Assignment Help:

State about the capital structure of financial risk

Frequently the funds supplied to a firm by lenders will change its financial structure and charge for the funds would be based on the changed financial structure. In analysis of the cost, however, firm's financial structure is presumed to remain fixed. This supposition is essential in order to isolate the costs of the different forms of financing. If firm's capital structure were not held constant, it would be quite difficult to find its cost of capital, because the selection of a given source of financing would change the costs of alternate sources of financing.

Assumption of a constant capital structure implies that when a firm raises funds to finance a given project these funds are raised in same proportions as firm's existing financing. Awkwardness of this assumption is obvious as in reality a firm raises funds in 'lumps,' it doesn't raise a mixture of small amounts of various types of funds. For instance, in order to raise USD. l million a firm may sell either bonds, common stock or preferred stock in the amount of USD. l million; or it may sell USD. 400,000 worth of bonds, USD. 100,000 worth of preferred stock and USD. 500,000 worth of common stock. Most firms would use the former strategy though our analysis of cost of capital is based on the assumption that firm will follow latter strategy. More sophisticated approaches for measuring the cost of capital when a firm's capital structure is changing rare available.

 

 


Related Discussions:- State about the capital structure of financial risk

Explain closed end country fund trade at premium or discount, Why do you th...

Why do you think closed-end country funds frequently trade at a premium or discount? Answer:  CECFs (closed-end country funds) trade at a premium or discount since capital market

Explain traditional method of measurement, Q. Explain Traditional Method of...

Q. Explain Traditional Method of Measurement? Computation of yield to measure a financial asset's return is the simplest and oldest technique of measurement. Yield can be find

What do you mean by treasury bills, Q. What do you mean by Treasury Bills? ...

Q. What do you mean by Treasury Bills? Treasury bills (TBs) are short-term government securities. The usual practice in India is to sell treasury bills at a discount and redeem

Factors determining dividend policy, Q. Factors Determining Dividend Policy...

Q. Factors Determining Dividend Policy? (1) Financial Needs of the Firm: - Financial requirement of a firm are directly related to the investment opportunities available to it.

Debt securities , lso from the auditor's report, they have reported that th...

lso from the auditor's report, they have reported that the company has used funds raised on short-term basis for long-term investment. The company has purchased certain fixed asses

Secondary market, The secondary market is a market where the investor...

The secondary market is a market where the investor purchases a security from another investor rather than from the issuing corporation. This market is secondary

Market beta, The management of Nelson plc wish to estimate their firm’s equ...

The management of Nelson plc wish to estimate their firm’s equity beta. Nelson has had a stock market quotation for only two months and the financial management feels that it would

Define the term- profit, Define the term- profit The term "profit" can ...

Define the term- profit The term "profit" can be used in two senses. As an owner-oriented concept it refers to amount and share of national income that is paid to owners of bus

Company capacity to continue trading, Company capacity to continue trading ...

Company capacity to continue trading Given the preceding discussion it is unlikely that the business can continue in its current form. The trading performance is clearly very

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd