Part 2 Section B.3. Raising Capital 資金調達

資金調達の源泉

  1. Retained earnings
  2. Commercial bank or finance company loans
    • Term loans
    • Discounted notes
      • the bank deducts interest on a bank loan or note in advance.
    • Line of credit
    • revolving line of credit
    • Self-liquidating loans
      • a short-term working capital loan that is repaid form the liquidation of inventory.
  3. Lease financing
  4. Venture capitalists
  5. Equity (common stock) issues – IPO
  6. Preferred stock issues
  7. Bond, or debt, issues

Equity issues

Initial Public Offering (IPO)

the first issue of common shares to the public

Primary, Subsequent, and Secondary Offerings

  • primary offering – IPO
  • subsequent offering (follow-on offering)
    • newly-issued shares or existing shares owned by the company
  • secondary offering
    • a sale of existing securities by one or more major stockholders who want to liquidate all or part of their personal holdings.

Dividends, Dividend Policy, and Stock Splits 配当政策

Dividend Policy

  • the residual theory
    • a dividend is paid only if the funds are not needed for investment.

The Dividend Payment Process 配当の支払いプロセス

  1. The declaration date 配当決議日、配当宣言日
  2. The date of record 基準日
  3. The ex-dividend date 配当落ち日
  4. The payment date 支払予定日

配当の種類 (類似概念含む)

  • Cash dividends
  • Scrip dividends
  • Property dividends
  • Stock dividends
  • Liquidating dividends
  • Stock split
    • reverse stock split
  • Treasury stock

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