Pecking Order

(noun)

Theory that states that the cost of financing increases with asymmetric information. When it comes to methods of raising capital, companies prefer financing that comes from internal funds, debt, and issuing new equity, respectively. Raising equity can be considered a last resort.

Examples of Pecking Order in the following topics:

  • Pecking Order

    • In corporate finance pecking ordering consideration takes into account the increase in the cost of financing with asymmetric information.
    • Pecking order theory basically states that the cost of financing increases with asymmetric information.
    • The pecking order theory was popularized by Stewart C.
    • Tests of the pecking order theory have not been able to show that it is of first-order importance in determining a firm's capital structure.
    • Explain the benefits and shortcomings of using the "pecking order" theory to evaluate a company's value

  • Protecting Citizens from Other Governments

    • Both centers of authority issued orders that were obeyed to some extent.
    • Subjection to more than one government is tolerable, however, only if there is a clear pecking order among them, as in the United States.

  • Trade-Off Consideration

    • It is often set up as a competitor theory to the pecking order theory of capital structure.

  • Capital Structure Overview and Theory

    • Pecking Order Theory tries to capture the costs of asymmetric information.
    • The Pecking Order Theory is popularized by Myers (1984), when he argues that equity is a less preferred means to raise capital because when managers (who are assumed to know better about true condition of the firm than investors) issue new equity, investors believe that managers think that the firm is overvalued and managers are taking advantage of this over-valuation.

  • The Fall of the Han and the Three Kingdoms Period

    • In 184 CE, two major Daoist rebellions—the Yellow Turban Rebellion and the Five Pecks of Rice Rebellion—broke out.
    • In order to fight these rebellions Emperor Ling gave military commanders control over their own provinces, but this gave way to a long power struggle.
    • In response the Emperor ordered indiscriminate killing of the eunuchs.

  • Understanding Concepting + The Creative Team

    • In order to understand how the creative department produces ad concepts, we need to review the job titles that make up the creative team.
    • At most agency departments there are a variety of job titles that establish a pecking order among its members.
    • Print production requires some technical knowledge, therefore most newcomers work under more experienced producers in order to learn the trade.
    • Therefore, the creative team will participate in brainstorming sessions focused on how to express individuality through tea in order to build affinity and increase purchase intent.
    • In essence, you were “pitching” the idea of that activity in order to solicit compliance from your friend, right?

  • Relief for the Unemployed

    • In 1933, the Administration launched the Tennessee Valley Authority, a project involving dam construction on an unprecedented scale in order to curb flooding, generate electricity, and modernize the very poor farms in the Tennessee Valley region of the southern United States.
    • Fort Peck Dam in Montana; spillway construction.

  • Second Declension

    • a) in words denoting money and measure; as, talentum, of talents; modium, of pecks; sēstertium, of sesterces.

  • The Eastern Han Period

    • A series of rebellions, including the Yellow Turban and Five Pecks of Rice, began in 184 CE.

  • Bronze Age Rock Carvings

    • This symbol consists of a concave depression, no more than a few centimeters in diameter, pecked into a rock surface and often surrounded by concentric circles also etched into the stone.