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QUESTIONAIRE

The questionnaire is intended to generate information from business

Organizations about finding the views on the interaction between capital

investment and profitability.

1) Under a perfect capital market condition, the value of a company of its


capital structure is?

Dependent Independent

Reason__________________________________________________________

2) Which model would you prefer for gearing up optimal capital structure?

Trade-off Model Pecking order Model

Reason__________________________________________________________

3) Which one would you prefer as a businessman?

Debt Finance Equity Finance

Reason__________________________________________________________

4) Which one you think is the main cause of market imperfections?

Existence of Taxes Information Asymmetries

Differing Incentives

Reason__________________________________________________________
5) The value of the Firm diminishes if?

Risk decreases Risk increases

Reason__________________________________________________________

6) In recent years have more profitable firms have increased their debt?

Yes No

If yes,

Reason__________________________________________________________

7) Managers' incentives to take risks with firm leverage?

Increase substantially Decrease substantially

Reason__________________________________________________________

8) Gearing has been persistently related to growth opportunities?

Negatively Positively

Reason__________________________________________________________

9) Does at the aggregate level balance sheet pressure cut solely the

investment spending?

Yes No

Reason__________________________________________________________
10) Rate in a broader perspective three most important points if we look at

the choice of capital structure. Which one range in scale how much?

Max Min

Tax shield advantage /_____/_____/_____/_____/_____/

Risk undertaken /_____/_____/_____/_____/_____/

The quality and type of assets /_____/_____/_____/_____/_____/

11) The relationship between gearing and company size appears to be

largely?

Negative Positive

Reason__________________________________________________________

12) According to you what allow firms to remain above their equilibrium

gearing for longer?

Low Interest Rate High Interest Rate

Reason__________________________________________________________

13) Companies clearly reflect that gearing levels are?

Persistent Frail

Positively related to company size Negatively related to

company size

Inversely correlated with growth Directly correlated with

growth
Reason__________________________________________________________

________________________________________________________________

________________________________________________________________

_____________________

14) For your company the equilibrium level of gearing has been relatively?

Stable Unstable

Reason__________________________________________________________

15) In the long run for Equilibrium arrange the sequence by setting priorities?

1-Most Important 2-Important 3- Necessary 4-Least Important 5-Not

Necessary

Low inflation Macroeconomic environment

Low interest Managerial Skills

Debt Level

Reason__________________________________________________________