Historical Report on race Research Paper Example | Topics and Well Written Essays - 750 words

Historical Report on race - Research Paper Example Today, you hear people speaking Spanish in very street you walk through in the cities of the United States of America. Hispanic Americans or Latinos originated in the Latin America and Spain. Hispanic American refers to the people of Spanish-speaking ancestry, while Latino refers to the people of Latin American origin. The history of Hispanic Americans in the US dates back to 16th century when Spanish ships sailing through Pacific Coast to Oregon. Hispanic Americans were the first racial group to reach the Mississippi River, the Appalachian Mountains and Great Plains. Spaniards created the first local settlement in continental America at St. Augustine in Florida in 1565 while other settlements in Virginia, Plymouth Colony, San Antonio, San Diego and Los Angeles followed later in the century (Jim, 2011). During the American Revolutionary war, Spain aided America since Spain held about half of the continental America territory. Through treaties, diplomacy and the Mexican-American War, United States increased its territory at the expense of Spain and most Hispanic Americans were pushed to the Southwestern States (Jim, 2011). Hispanic Americans account for about 17 percent of the total US population which translates to over 50 million people. Hispanic Americans is the fastest growing racial group with a population growth rate of 28.6 % which is about four times the national average of 7.2 % according to 2010 statistics. Majority of Hispanic Americans live in Puerto Rico, East Los Angeles, Texas, Miami, California and Colorado. Hispanic Americans form the second largest are the second largest racial group in the US after the White Native Americans. Hispanic Americans are still a minority group. Most Hispanic Americans originated from Latin American countries like Salvador, Colombia, Cuba, Mexico and Dominica (Jim,

Capital structure and firm value Literature review

Capital structure and firm value - Literature review Example Finally, the relationship between various aspects like credit ratings, target leverage, short term financing etc and their influence on the firm’s financing policy have also been discussed. Introduction The financial managers of a company work towards achieving an optimal capital mix. In large companies there is a separate financial department that takes care of financing issues. The managers strive hard to achieve a right mix of debt and equity as the capital base of the firm determines the cost of capital. The point at which the average cost of capital is minimum, the value of the firm is maximum. This point is referred as ‘optimal’. Methodology The choice of capital structure and firm value is an important topic in financial literature. This paper examines various capital structure theories like pecking order, trade-off theory etc and its impact on capital structure decisions. Mostly, the secondary sources of data have been used to determine the relationship be tween the capital structure of the firm and its value. ... The significant components of the capital structure include both debt and equity. Back in the year 1958, Modigliani and Miller had established the modern theory of capital structure. According to this theory, the value of a firm does not depend on its capital structure decisions. The Modigliani-Miller theorem is a significant arena of contemporary corporate finance. At its centre, the theory refers to an irrelevance proposition. The Modigliani Miller theory offers cases under which the financial decision of a firm does not have an effect on its value. According to the theorem, â€Å"with well-functioning markets ... and rational investors, who can ‘undo’ the corporate financial structure by holding positive or negative amounts of debt, the market value of the firm – debt plus equity – depends only on the income stream generated by its assets† (Villamil, n.d., p.1). As per Modigliani, the firm value should not be dependent on the portion of debt withi n the financial structure. The Modigliani Miller theorem is comprised of four separate results which are fetched from a series of research papers. According to the first proposition, under some specific conditions, the debt-equity ratio of the firm would not have an impact on the market value. Among them, the first two are related to the firm’s capital structure. As per the second proposition, the leverage of any firm would not have any effect on the firm’s weighted average cost of capital. This means that cost of equity has a linear relationship with the firm’s debt equity ratio. Miller has given an example for a better understanding of the theorem. For an instance, one can think that the firm is a huge tub of