2 resultados para Deviation from the target capital structure
em Digital Peer Publishing
Resumo:
Against the background of the emerging multicultural migration society, acquisition of intercultural competences is getting vitally important for youngsters to actively and effectively engage with intercultural dialogue in a co-existent life context. Contingencies for such intercultural dialogue and to foster intercultural competences of youngsters are opened in virtual space when youth with different ethnic, social and cultural background go online. However, differences in Internet use and competences acquisition as “digital inequality” also exist among youth with different socio-cultural background. This article reports on a quantitative survey of 300 Turkish migrant youth in Germany as empirical sample about how Internet use generally fosters their intercultural competences, what differences exist among them and which indicators can explain the differences. Preliminary findings show that the contingencies of Internet in fostering intercultural competences are still not much employed and realised by Turkish migrant youth. Four online groups connected with bonding, bridging, both (bonding and bridging) and none socio-cultural networks are found out based on the cluster analysis with SPSS. These different networks, from the perspective of social cultural capital, can explain the differences concerning development of intercultural competences among them. It is indicated in this research that many Turkish migrant youth still lack recognition and capabilities to construct their intercultural social networks or relations through using Internet and further to employ the relations as intercultural social capital or social support in their life context. This therefore poses a critical implication for youth work to help migrant youth construct and reconstruct their socio-cultural networks through using Internet so as to extend social support for competences acquisition.
Resumo:
Tax planners often choose debt over equity financing. As this has led to increased corporate debt financing, many countries have introduced thin capitalization rules to secure their tax revenues. In a general capital structure model we analyze if thin capitalization rules affect dividend and financing decisions, and whether they can partially explain why corporations receive both debt and equity capital. We model the Belgian, German and Italian rules as examples. We find that the so-called Miller equilibrium and definite financing effects depend significantly on the underlying tax system. Further, our results are useful for the treasury to decide what thin capitalization type to implement.