mukt nakadi pravaah

corporate vitt mein, mukt nakadi pravaah (aff. see. aff.) yaa 
firm mein mukt nakadi pravaah (aff. see. aff. aff.) vaha raashi haye jisake dwara ack vyavasaay kaa parichaalan nakadi pravaah usaki kaaryasheel poonji kii jarooraton aur nishchit parisampattiyon (jise poonji vyay key roop mein jaanaa jaataa haye) parr vyay seey adhik hotaa haye. yeh nakadi pravaah kaa vaha hissa haye jise kissy company seey nikala jaa sakata haye aur usake sanchaalan mein samasya paida kiye binaa lendaaron aur pratibhooti dharakon koo vitarit kiya jaa sakata haye. iss prakaar, yeh company key vittiya lachilepan kaa ack sanketak haye aur company key equity, rinn, pasandida stock aur parivartaniya pratibhootiyon key dharakon key saath-saath sambhaavit rinadaataon aur niveshakon key liye byaaj kaa haye.
darshakon aur upalabdh aankadon key aadhar parr mukt nakadi pravaah kii ganana vibhinn tarikon seey kii jaa sakati haye. ack samanya upaay byaaj aur karon seey pahale kii aaya koo lena, mulyahras aur parishodhan jodana, aur phir karon koo ghataana, kaaryasheel poonji aur poonjigat vyay mein parivartan karna haye. darshakon key aadhar parr, vikritiyon koo khatm karane kii koshish karane key liye kaee parishkaran aur samaayojan bhee kiye jaa sakate hain.
mukt nakadi pravaah shuddh aaya seey alag hoe sakata haye, kyonki mukt nakadi pravaah poonjigat vastuon kii khareed aur kaaryasheel poonji mein parivartan koo dhyaan mein rakhta haye.
ganana.
mukt nakadi pravaah kii ganana karane key liye ack samanya vidhi neeche dee gaee haih
dhyaan dein kii uparokt pahali teen panktiyon kii ganana nakadi pravaah key maanak vivaran parr kii jaati haye.
jaba shuddh laabh aur lagu curr darr dee jaati haye, tou aap ise laker bhee ganana curr sakate hainh
kahaan
jaba curr key baad laabh aur rinn/equity anupaat upalabdh honh
jahan dee-rinn/equity anupaat haye. ee.jee.: 3hah4 mishran key liye yeh 3/7 hoga.
isaliye,
shuddh aaya key saath antar.
shuddh aaya aur mukt nakadi pravaah key beach dou antar hain. pahala haye poonjigat vastuon kii khareed key liye lekha. shuddh aaya mulyahras kii katauti karati haye, jabaki mukt nakadi pravaah upaay pichhali avadhi kii shuddh poonji khareed kaa upayog kartaa haye.
doosara antar yeh haye kii mukt nakadi pravaah maap shuddh kaaryasheel poonji mein parivartan key liye samaayojan kartaa haye, jahaan shuddh aaya drishtikon naheen haye. aam taur parr, praaptiyon key liye 30-divasiya sangrah avadhi, khareed key liye 30-divasiya bhugtan avadhi aur saptahik vetan-soochi key saath ack badhati company mein, badhati praapya shesh raashi mein antarnihit shram aur laabh ghatakon koo vittaposhit karane key liye adhik kaaryasheel poonji kii aavashyakta hogi.
jaba kissy company kii bikri mein nakaratmak vriddhi hoti haye, tou isake apane poonjigat kharch koo cumm karane kii sambhavana hoti haye. praaptiyan, basharte unhein samay parr ekatra kiya jaa rhaa hoe, way bhee cumm hoe jaayengi. yeh sub "mandee" mukt nakadi pravaah mein parivardhan key roop mein dikhaai dega. haalaanki, lambi avadhi mein, bikri key rujhaanon mein girawat antatah pakad banaayegi.
shuddh mukt nakadi pravaah paribhasha mein company key alpakaalik rinn kaa bhugtan karane key liye nakad upalabdh karaane kii bhee anumati dee jaani chaahiye. ise kissy bhee labhansh koo bhee dhyaan mein rakhna chaahiye jiska bhugtan company karna chaahati haye.
shuddh mukt nakadi pravaah = sanchaalan nakadi pravaah-sanchaalan key vartamaan star koo banaae rakhane key liye poonjigat kharch-labhansh-deerghakaalik rinn kaa vartamaan hissa-mulyahras
yahaan capex paribhasha mein nae upkaranon parr atirikt nivesh shamil naheen honah chaahiye. halanki rakharkhaav laagat jodee jaa sakati haye.
labhansh-yeh aadhar labhansh hoga jise company apane sharedharakon koo vitarit karane kaa irada rakhti haye.
ell. tii. dee. kaa vartamaan hissa-yeh nyuntam rinn hoga jise company koo chook naa karane key liye bhugtan karane kii aavashyakta haye.
mulyahras-ise baahar nikala jaanaa chaahiye kyonki yeh vartamaan ppe koo badalane key liye bhavishya key nivesh key liye jimmedaar hoga.
yadi shuddh aaya shreni mein bund kiye gaye sanchaalan seey aaya aur asadharan aaya shamil haye tou sunishchit karein kii yeh mukt nakadi pravaah kaa hissa naheen haye.
uparokt sabhi kaa shuddh laabh adhik rinn liye binaa sanchaalan mein punah nivesh karane key liye muft nakad upalabdh karaata haye.
vaikalpik sootra.
aff. see. aff. upaayah
prateekon menh
kahaan
nivesh kewal ack avadhi key anta seey agali avadhi key anta taka firm kii poonji mein shuddh vriddhi (kamee) haih
jahan "key" tii "avadhi" tii "key anta mein firm kii niveshit poonji kaa pratinidhitva kartaa haye. gair-nakad vartamaan parisampattiyon mein vriddhi, yaa tou ghataai jaa sakati haye yaa naheen, iss baat parr nirbhar karati haye kii unhein yathaasthiti banaae rakhane key liye maanaa jaataa haye, yaa vikas key liye nivesh maanaa jaataa haye.
mukt nakadi pravaah (i.ee.byaaj bhugtan seey pahale nakadi pravaah) koo ebita-capex-shuddh kaaryasheel poonji-karon mein parivartan key roop mein paribhaashit kiya gayaa haye. yeh aam taur parr sweekrit paribhasha haye. yadi rinn kaa anivarya punarbhugataan hotaa haye, tou kuchh vishleshak mukt nakadi pravaah kaa upayog karate hain, joe kii oopar diyaa gayaa ack hii sootra haye, lekin cumm byaaj aur anivarya mooldhan punarbhugataan. binaa nakadi key pravaah (yuu. aff. see. aff.) kaa upayog aamtaur parr udyog maanak key roop mein kiya jaataa haye, kyonki yeh vibhinn companiyon key nakadi pravaah kii tulanaa karane mein aasaani detaa haye. company parr vibhinn poonji sanrachanaon key prabhaav kaa pareekshan karane key liye vishleshan karate samay ise leavered kaish flow parr bhee pasand kiya jaataa haye.
nivesh banker nimnalikhit sootron kaa upayog karke mukt nakadi pravaah kii ganana karate hainh
aff. see. aff. aff. = curr parichaalan aaya key baad + gair-nakad shulk (jaise dee. aind aeye)-poonjigat vyay-kaaryasheel poonji vyay = firm key liye mukt nakadi pravaah (aff. see. aff. aff.)
aff. see. aff. ee. = shuddh aaya + gair-nakad shulk (jaise dee. aind. aeye.)-poonjigat vyay-gair-nakad kaaryasheel poonji mein parivartan + shuddh udhaar = equity mein mukt nakadi pravaah (aff. see. aff. ee.)
yaa basah
aff. see. aff. ee. = aff. see. aff. + shuddh udhaar-byaaj * (1-tii)
agency kii laagat.
americi aarthik sameeksha" mein 1986 key ack pepper mein, michael genson ney nott kiya kii mukt nakadi pravaah ney farmon key prabandhakon koo cumm return arjit karane vaali pariyojanaon koo vittaposhit karane kii anumati dee, isaliye, equity yaa bonned baajaron dwara vitt poshit naheen kiya jaa sakata haye. americi tail udyog kii jaanch karate hue, jisane 1970 aur 1980 key dashak kii shuruat mein paryaapt mukt nakadi pravaah arjit kiya thaa, unhone likhaa kih
[1984 mein duss sabse badee tail companiyon kaa nakadi pravaah $48.5 billion thaa, joe dunn key vyaapaar maheene key sarvekshan mein sheersh 200 farmon key ranco cordova seey baahar nikalane vaale kull nakadi pravaah kaa 28 pratishat thaa. mukt nakadi pravaah kii agency lagaton key anuroop, prabandhan ney sharedharakon koo atirikt sansadhanon kaa bhugtan naheen kiya. isake bajaay, udyog ney [anveshan aur vikas] gatividhi parr bhaari kharch karna jaari rakhaa, bhale hii ausat laabh poonji kii laagat seey cumm thaa.
gensen ney anveshan ghoshanaon aur inn farmon key bajar mulyankan key beach ack nakaratmak sahsambandh koo bhee nott kiya-anya udyogon mein anusandhaan ghoshanaon key vipareet prabhaav.

