Relationships with Shareholders and Creditors Financial Leverage (Relaciones con Accionistas y Acreedores. Apalancamiento Financiero) (Spanish)

13 Pages Posted: 16 Feb 2011 Last revised: 23 Feb 2011

See all articles by Ignacio Velez-Pareja

Ignacio Velez-Pareja

Grupo Consultor CAV Capital Advisory & Valuation

Miguel Ricardo Davila

Pontifical University Javeriana Cali

Date Written: February 14, 2011

Abstract

This is a teaching material for a module of Financial Analysis at Universidad Tecnológica de Bolivar. The educational material was developed with Professor Ricardo Davila from Universidad Javeriana, Bogota, Colombia. The written material has been modified several times using the feedback from students and other users. This material is an unpublished one.

This chapter deals with the relationships with shareholders, creditors and financial leverage for a firm. We include an appraisal factor for shares AFS, that takes into account the growth rate for dividends and the firm reinvestment rate (1-payout factor) and assuming that they are constant. We give detailed examples for each case.

Note: Downloadable document is in Spanish.

Keywords: Accounting, Financial Management, Dividends, Share Valuation, Financial Lever

JEL Classification: M41

Suggested Citation

Velez-Pareja, Ignacio and Davila, Miguel Ricardo, Relationships with Shareholders and Creditors Financial Leverage (Relaciones con Accionistas y Acreedores. Apalancamiento Financiero) (Spanish) (February 14, 2011). Available at SSRN: https://ssrn.com/abstract=1761332 or http://dx.doi.org/10.2139/ssrn.1761332

Ignacio Velez-Pareja (Contact Author)

Grupo Consultor CAV Capital Advisory & Valuation ( email )

Ave Miramar # 18-93 Apt 6A
Cartagena
Colombia
+573112333074 (Phone)

HOME PAGE: http://cashflow88.com/decisiones/decisiones.html

Miguel Ricardo Davila

Pontifical University Javeriana Cali ( email )

Cl 40 6-23
Bogota, CO Valle del Cauca 11001
Colombia

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