Corporate Finance: Ameer Companies Ka Udhaar
Aap sochte honge ke Apple ya Facebook jaisi super-rich companies bhala karz (Debt) kyun leti hongi?
Corporate Finance ka aik ajeeb asool hai: 'Apna kacha paisa sambhalo, market se udhar le kar business badhao'. Kyunkay bank aam aadmi ke muqable mein badi corporation ko bohot saste interest rate par loan deta hai.
Jab Central banks Interest rate cheap karti hain, toh companies bank se billions of dollar loan leti hain. Lekin woh is paise se naye factories nahi banatin, balki us loan se apna hi Share market se wapis khareed leti hain (isay 'Stock Buyback' kehte hain).
Buyback karne se market mein company ke share kam (rare) ho jate hain, jis ki wajah se uski qeemat asmaan par chali jati hai. CEO ko unhi mehnge shares me bonus milta hai, bas debt company ke sarr pr aajata hai.
Sochiye: Jo interest rate kam kiya tha ke economy mein rozgar barhay... usko udhaar le kar, apne share ki qeemat pump kara ke sirf CEOs ne faida uthaya! System fail hua ya successfully kaam kiya?
Key Takeaway
Badi companies karz isliye nahi leteen ke unke paas paise nahi. Woh 'Taxation benefits' aur 'Stock Buybacks' se free paisa nikalnay ke liye Debt leti hain.