8,480 research outputs found
Corporate Debt Policy Pre- and Post-financial Market Reforms: The Case of the Textile Industry of Pakistan
Corporate Debt Policy—Pre- and Post-financial Market Reforms: The Case of the Textile Industry of Pakistan
The literature provides evidence that the capital structure of
a firm is often a combination of several securities; it can arrange (1)
Bank loan (2) issue debentures/bonds, (3) issue shares (4) lease
financing, or (5) utilise its retained earnings. Eventually number of
ideas and theories has been developed to discuss the optimal capital
structure. Optimum is the trade-off between the benefit of tax and costs
of financial distress; a firm faces due to the borrowed money. Although
extensive research work has been done on the capital structure but still
it remains one of the unsettled topics in finance. Optimal capital
structure has an impact on corporate profits. Debt is considered as the
cheapest source of financing due to tax shield, higher the firm’s tax
bracket more the debt is advantageous to a firm. The trade off theory
states that higher debt is associated with higher profitability. Three
reasons support this theory; one debt allow tax shield. Second, more
trust is built on profitable companies considering more sustainable and
less prone to bankruptcy; hence high profitable companies are able to
seek more debt. Third, agency cost, for the profitable firms,
lenders/creditors give relaxation in monitoring charges, which reduces
the debt cost. This motivates profitable firms to go for more
debt
Order preserving pattern matching on trees and DAGs
The order preserving pattern matching (OPPM) problem is, given a pattern
string and a text string , find all substrings of which have the
same relative orders as . In this paper, we consider two variants of the
OPPM problem where a set of text strings is given as a tree or a DAG. We show
that the OPPM problem for a single pattern of length and a text tree
of size can be solved in time if the characters of are
drawn from an integer alphabet of polynomial size. The time complexity becomes
if the pattern is over a general ordered alphabet. We
then show that the OPPM problem for a single pattern and a text DAG is
NP-complete
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