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                                      4.2 Capital Structure Theories


                                CAPITAL STRUCTURE THEORIES / H¡${nQ>b ñQ´>³Ma ϶moarO

                   Q.33. Write a short note on a capital structure theories and give names of different capi-
                         tal structure theories.
                         EH$ H¡${nQ>b ñQ´>³Ma ϶moarO na em°Q>© ZmoQ> {b{IE Am¡a {d{^ÝZ H¡${nQ>b ñQ´>³Ma ϶moarO Ho$ Zm‘
                         Xr{OE&                                                                     338
                   Q.34. Explain the  assumptions and  implications of  the NI  (Net Income)  approach.
                         Illustrate your answer with examples.
                         NI (ZoQ> B§H$‘) {d{Y H$s EOåneÝg VWm BpåßbHo$eÝg H$mo g‘PmB¶o VWm AmnHo$ CÎma H$m
                         CXmhaU g{hV dU©Z H$s{OE&                                                   338

                   Q.35. Write a short note on Net Operating Income approach.
                         ZoQ> Am°naoqQ>J B§H$‘ EàmoM na g§{já {Q>ßnUr {b{IE&
                                                        OR
                         How can the value of firm be derived by Net Operating Income approach? Ex-
                         plain. / ZoQ> Am°naoqQ>J B§H$‘ EàmoM Ûmam g§ñWm H$m ‘yë¶ H¡$go n«má {H$¶m Om gH$Vm h¡? g‘PmB¶o&  346

                   Q.36. According to the traditional approach, the manner in which the overall cost of
                         capital reacts to changes in capital structure can be divided in stages, what are the
                         stages?
                         Q´>o{S>eZb EàmoM Ho$ AZwgma, {Og Vah H¡${nQ>b ñQ´>³Ma ‘| n[adV©Z Ho$ {bE ny§Or H$s g§nyU©
                         à{V{H«$¶m hmoVr h¡, Cgo ñQ>oOog ‘| {d^m{OV {H$¶m OmVm h¡, dh ñQ>oOog ³¶m h¢?
                                                        OR
                         Write a short note on traditional approach or intermediate approach.
                         Q´>o{S>eZb EàmoM ¶m B§Q>a‘r{S>EQ> EàmoM na EH$ g§{jßV ZmoQ> {b{IE&         350

                   Q.37. What are the assumption used in Modigliani-Miller approach?
                         _mo{X½bmZr-{_ba EàmoM ‘| {H$Z-{H$Z ‘mݶVmAm| H$m à¶moJ {H$¶m OmVm h¡?
                                                        OR
                         Write a short note on modigliani and miller approach.
                         _mo{X½bmZr Am¡a {_ba EàmoM na EH$ g§{jßV {Q>ßnUr {b{IE&                    354
                   Q.38. Enumerate some other capital structure theories. Explain them in brief.
                         Hw$N> Aݶ H¡${nQ>b ñQ´>³Ma ϶moarO H$m dU©Z H$s{OE& CÝh| g§jon ‘| g‘PmB¶o&  356
                  Solved Practical Questions ......................................................................  340

                  Review Questions .....................................................................................  372

                  Practical Questions ...................................................................................  373


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