Our Affiliations • Internet Resources • Glossary of Terms
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Capital
Sources of long-term financing that are available to the business firm.
Capital
Gains
Profits, either short or long term, from the sale of capital assets, chiefly
non-inventory assets.
Capital
Gains Tax
Taxes that must be paid on profits earned by sale of stock or other investments.
Lowering the capital gains tax is a perennial political cause for economic
conservatives when the federal budget is reviewed. Any serious lowering
of the capital gains would favorably impact the merger market.
Capital
Gains Distribution
Payments to mutual fund shareholders of profits from the sale of securities
in a fund's portfolio. Capital gains distributions (if any) are usually
made annually.
Capital
Markets
A place or system in which the requirements for the capital of a business
can be satisfied. Market for long-term investment funds.
Capitalization
of Earning Power
A method of determining the value of a business by dividing earnings or
operating cash flow by a discount rate.
Cash Flow
Lenders
Financial institutions that will base financing primarily on a multiple
of cash flow generally defined as EBITDA (Earnings Before Interest and
Taxes, Depreciation, and Amortization).
"Comebacks"
-Adjustments
Post closing adjustments of any future stream of payments as a result
of due diligence or post- closing negative discoveries, i.e. additional
costs or payables, uncollectable notes, erroneous accruals.
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Our Affiliations • Internet Resources • Glossary of Terms
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