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Nave Umae [aes Sort Reg,.No: : Boll --ay- 3343- SuBiecr: CoeporaTE Frnancé: A son goes h Capital Structure theory: Net mame approach a- Net pesaleg income approach = Madiqhaa~ Miller gpprudh (4M approach) 4- Tad Yonall appiaach Met incane wppreach: Accerclns ~ 4s yypitech tl Strochve Hision is aatie Ughtaken 4 jn 4 igher Abt conte? in cgath Z stuchre wll rel! in Aecline_ in fhe cverall Or weight QV ast a i tell a well Wekeae. Ti voll dy a 7 conspeonty (néseax in yale g ey Shares 4d aoa [veloe 9 fem= Mx Me ] =< a Mes Laming availehle Jeg. shareholers > ¢ WG tm 2 AE 2 z Ko 5 overall cost 9 apital a a- Net Gperaling income approach: ys Aecarchrg te tis he 7 ' ae Velie 4 pum. inet tah. oe fed. Hy goth stocker Charger: The market wale te Z je i aocerfain bt capifale oy opele: aR neaome. an He ee f Y oy rr (be) “chith v._cansidered fs Be tamper? Valve gy pirm= EOIT ko Mie Vale 9. Jim MA 2 Median — Miler ggprach (MAA approach) ke is ch Oo chen. 2% Net eating mame eee ae nach. Net speaelirg ntome 6 20th in pure Wisma ein dete povk by a While MM apreach suppsib He net TO hil oii Cae. oo oe whe Wiles ae oe HO whan and “ke ast fos Jom ih _tapitah shuche: ae “Approech a S i i Fe tadlbornal gyros. or the nktoxolete armel suey belaieen tenet _cyprach andl net aes are P Dividend “Theory: - Releunce theory: ~ fg adie OF ion + Wellfers Model ‘ Gor dbn 5 Model he aviderol abcistans abuts PTIre 2- |rrelevance theory: cs Fre dwiclrd choses cbnot (ee elect He valve g jn Residual theory - Mille $ Mid glans Hypelhes's (MM appraich, (). Relevant theories } dividend: [oy Walleres Medel theory: ” Tha model 4 Seseel on ) Behn on _invetmen_ or intra rate y yeturn (“) 4 » Gost y Gphl oO repuire wale g yeh () p- {erlEMie) — EN YS oie ke ae shore te a fe TICS Poona eh I = Gorcoms Model : : Acordng tr Hin model shae piece i Aependert on fay oot pr a B bre3)“ Shae 2 per Sate EB £tE® ti lowe sae he - br Kez Cost FY eq'ty Gpite bt =— Greate rate in—r | 2 Irrelevant — Hheories ) diviclend: Ea Residual Approach: __ eanirs s _avatade mm be ehined in He husinen ot 10 invoth Sut 7 pod are pot wrt in bosiress hoy me te atilutet 20 cbvidhids, This Heorg “assures teat inves ee Ajpratiat delice Aviclrd, aw wefrPar oY pm 2) MM theory Dito! fbeg faut cpect tn market fre J share ad te yale g. te fee ed. er Be aa. Whee satis bBenhorPPRRPPPPPP?P?? RE fe Marleh price fr spor at He Syneg poral De Diihad 4 be wuss! af mel pod ™ a ees Market price fe stare at He od it Bove = Caste BIN epity expt Hak 9 cop tg

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