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Spice Boy - david bhekam
Yiyi: A One and a Two (2000)
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Know your topic. The better you understand what you're talking about and the mor
e you care about the topic the less likely you'll make a mistake or get off trac
k. And if you do get lost, you'll be able to recover quickly. Take some time to
consider what questions the audience may ask and have your responses ready.
Get organized. Ahead of time, carefully plan out the information you want to pre
sent, including any props, audio or visual aids you'll use. The more organized y
ou are, the less nervous you'll be. Use an outline on a small card to keep yours
elf on track. If possible, take time to visit the place where you'll be speaking
and review available equipment before your presentation.
Practice, and then practice some more. Practice your complete presentation sever
al times. Do it for a few people you're comfortable with. Ask them to give you f
eedback. Or, record it with a video camera and watch it so that you can see oppo
rtunities for improvement.
Visualize your success. Imagine that your presentation will go well. Positive th
oughts can help decrease some of your negativity about your social performance a
nd relieve some anxiety.
Do some deep breathing. This can be very calming. Take two or more deep, slow br
eaths before you get up to the podium and during your speech.
Focus on your material, not on your audience. People mainly pay attention to new
information not how it's presented. They may not notice your nervousness. If au
dience members do notice that you're nervous, they may root for you and want you
r presentation to be a success.
Don't be afraid of a moment of silence. If you lose track of what you're saying
or you begin to feel nervous and your mind goes blank, it can seem like you've s
topped talking for an eternity. But in reality, it's probably only a few seconds
. Even if it's longer, it's likely your audience won't mind a pause to consider
what you've been saying. This might be a good time to take a few slow, deep brea
ths.
Recognize your success. After your speech or presentation, give yourself a pat o
n the back. It may not have been perfect, but chances are you're far more critic
al of yourself than your audience is. Everyone makes mistakes during speeches or
presentations. Look at any mistakes you made as an opportunity to improve your
skills.
Get support. Join a group that offers support for people who have difficulty wit
h public speaking. One effective resource is Toastmasters, a nonprofit organizat
ion with local chapters that focuses on training people in speaking and leadersh
ip skills.
Criticism of the Modigliani and Miller hypothesis:
On the basis of the arbitrage process, M-M conclude that the market value of fir
ms are not affected by leverage but due to the existence of imperfections in the
capital market, arbitrage may fail to work and may give rise to differences bet
ween the market values of levered and unlevered firms. The arbitrage process may
fail to bring equilibrium in the capital market for the following reasons:
Lending and borrowing rates differences:
Based on the assumption that firms and individuals can borrow and lend at the sa
me rate of interest does not hold good in practice. This is so because firms whi
ch hold a substantial amount of fixed assets will have a higher credit standing,
thus they will be able to borrow at a lower rate of interest than individuals.
Non-substitutability of personal and corporate leverages:
It is incorrect to say that personal leverage and corporate leverage are perfect
substitute because of the existence of limited liability a firms hold compare t
o the unlimited liability of individuals hold. For examples, if a levered firm g
oes bankrupt, all investors will lose the amount of the purchase price of the sh
ares. But if an investor creates personal leverage, in the event of a unlevered
firms insolvency, he would lose not only his principal in the shares but also be
liable to return the amount of his personal loan.
Transaction costs:
Transaction cost interfere with the working of the arbitrage. Due to the cost in
volved in the buying and selling of securities, it is necessary to invest a larg
er amount in order to earn the same return. As a result , the levered firm will
have a higher market value.
Institutional restrictions:
Personal leverage are not feasible as a number of investors would not be able to
substitute personal leverage for corporate leverage and thus affecting the work
of arbitrage process.
Corporate taxation and personal taxation:
M-M theory is also criticize for the reason that it ignores the corporate taxati
on and personal taxation.
Retained earnings:
It also ignores personal aspect of financing through retained earnings. In real
world , corporate will not pay out the entire earnings in the form of dividends.
Investors willingness:
Investors will not show much interest in purchasing low rated issued by highly g
eared firms.
Read more: http://www.ukessays.com/essays/finance/the-criticism-of-the-modiglian
i-and-miller-hypothesis-finance-essay.php#ixzz34ydyOGk8