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We survey 392 CFOs about the cost of capital, capital budgeting, and capital structure. Large firms rely heavily on present value techniques and the capital asset pricing model, while small firms are relatively likely to use the payback criterion. We find that a surprising number of firms use their firm risk rather than project risk in evaluating new investments. Firms are concerned about maintaining financial flexibility and a good credit rating when issuing debt, and earnings per share dilution and recent stock price appreciation when issuing equity. We find some support for the pecking-order and trade-off capital structure hypotheses but little evidence that executives are concerned about asset substitution, asymmetric information, transactions costs, free cash flows, or personal taxes. Key words: capital structure, cost of capital, cost of equity, capital budgeting, discount rates, project valuation, survey. 1 We thank Franklin Allen for his detailed comments on the survey instrument and the overall project. We

-ment may have formflated, furnished, or in any way supplied the said drawings, specifications, or other data is not to be regarded by implication or other-wise as in any manner licensing the holder or any other person or corporation, or conveying any rights or permission to manufacture, use or sell any

protocols for a single channel wireless LAN being developed at Xerox Corporation’s Palo Alto Research Center. We start with the MACA media access protocol first proposed by Karn [9] and later refined by Biba [3] which uses an RTS-CTS-DATA packet exchange and binary exponential backoff. Using packet

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Etymology of "Foo" Status of this Memo This memo provides information for the Internet community. It does not specify an Internet standard of any kind. Distribution of this memo is unlimited. Copyright Notice Copyright (C) The Internet Society (2001). All Rights Reserved. Approximately 212 RFCs so far, starting with RFC 269, contain the terms ‘foo’, ‘bar’, or ‘foobar ’ as metasyntactic variables without any proper explanation or definition. This document rectifies that

(but decreasing marginal) productivity of labor, reduced growth rates of labor income, excess capacity, and the requirement for downsizing and exit. The last two decades indicate corporate internal control systems have failed to deal effectively with these changes, especially slow growth

This paper analyzes the survival of organizations in which decision agents do not bear a major share of the wealth effects of their decisions. This is what the literature on large corporations calls separation of “ownership” and “control.” Such separation of decision and risk bearing

This paper summarizes the empirical and theoretical research on executive compensation and provides a comprehensive and up-to-date description of pay practices (and trends in pay practices) for chief executive officers (CEOs). Topics discussed include the level and structure of CEO pay (including