Der russisch-japanische Krieg und die japanische Volkswirtschaft

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Monograph

Identifikator:: 882699261

URN:: urn:nbn:de:zbw-retromon-4781

Document type:: Monograph

Author:: Kanbe, Masao http://d-nb.info/gnd/11603548X

Title:: Der russisch-japanische Krieg und die japanische Volkswirtschaft

Place of publication:: Leipzig

Publisher:: A. Deichert'sche Verlagsbuchhandlung Nachf. (Georg Böhme)

Year of publication:: 1906

Scope:: 1 Online-Ressource (74 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: II. Teil. Einfluß des russisch-japanischen Krieges auf die japanische Volkswirtschaft

Collection:: Economics Books

I. THE RATIO OF LONG TERM DEBT TO TOTAL EQUITIES A good indication of the stability of the utility industry is found in the large funded debt appearing in the ordinary public utility com- pany’s financial statement. The utility industry is an industry using large fixed assets and having relatively stable earnings. To a great extent, it is these two factors which make possible the load of long term obligations. In the following pages, the proportion of the total equities which is provided by this type of financing is discussed with the aid of bar charts showing the concentration of the ratios about certain average figures. The height of these bars is proportional to the number of cases in the groups, thereby showing at which point the greatest con- centration of cases takes place. An average figure, representative of the greatest number of cases in the distribution, is then calculated and is used as an aid to discussion. This average, which is representative of a greater number of cases than any other average, is the mode. Out of a total of 1,581 cases examined, 110 had no ratios of long term debt, 4 had a ratio of less than .02, and 20 had a ratio of over .80.2 The remaining 1,447 cases, shown in Chart la, have been grouped in 6 per cent intervals, beginning with .02. The type of the distribution is of interest in that it indicates that there is a fairly uniform dis- tribution of cases in the four highest bars. The highest bar contains 15 per cent of all the cases, which means that 15 per cent of all the cases had a ratio between 44 and 499. The mode (average) is located in this bar, being .481. The degree to which this average is typical of the cases analyzed can be further measured by the percentage of cases concentrated about the mode in the three highest bars. which. for this distribution. is 44 per cent. THE GEOGRAPHICAL DISTRIBUTIONS Distributions of the data for those companies in the East, Middle West, West, and South are shown graphically in Chart 1b. Differences are at once apparent in the spread and height of the distributions — Preferred stock was classified as a long term debt in those few cases where it was preferred both as to assets and dividends. cumulative, and non- voting, ‘The cases in the class interval containing the mode and the cases in the ‘wo class intervals immediately adjacent to the modal interval are included in his percentage. In the following tables the three class intervals are included for each distribution. °For the basis of these geographical divisions see Bulletin No. 9, The Cur- ent Ratio in Public Utility Companies, Bureau of Business Research, University 01 Tilinois.

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