أثر قرار التمویل في المؤسسة الإقتصادیة على العائد و المخاطرة دراسة

Abstract

The importance of the funding-decision selection lies on the impact of owners’ income and the financial risk, so the enterprise’s financial management needs to set a balance between the available funding-decisions to reach the perfect financial structure, which at that point the cost of funds and the degree of risk will be reduced to the lowest level, the result will be positive on the owners’ income and the market value of the share. In the case of the enterprise overuse a funding source “a funding leverage " for example, the leverage funding will drag the average cost of the financial structure to a high level in the long term despite the low level in the near term, and taking higher financial risks, this is what puts the enterprise in a financial deficit situation and the difficulty to depend on external funding resources, so the enterprise should not be over-depending on the concept of the financial leverage impact, if it can raise the profitability of the ownership funds compared with the economic viability, it can have the opposite effect if the economic viability decreased compared with the debt cost, which leads the financial leverage to obtain a deficit and charged on The Owners Funds. The overfinancing of the enterprise’s investments by the owners’ funds, which is considered a highly-cost may reduce the owners’ income as a result of the large number of shareholders, and lack of administration attention to the use of these resources