Board Independence, Ownership Structure and Firm
... them towards entrenchment. McConnell and Servaes (1990) also conducted the curvilinear relationship working on same lines. He used Tobin‟s Q as performance measures and evaluate the performance for the period of 1976-1986 by taking into account all dimension of ownership structure; insider, individu ...
... them towards entrenchment. McConnell and Servaes (1990) also conducted the curvilinear relationship working on same lines. He used Tobin‟s Q as performance measures and evaluate the performance for the period of 1976-1986 by taking into account all dimension of ownership structure; insider, individu ...
DIVIDEND POLICY AND FIRMS` PERFORMANCE: A CASE OF
... firm size, pressure from shareholders and regulatory regimes. Dividend policy connotes to the pay-out policy, which managers pursue in deciding the size and pattern of cash distribution to shareholders over time. Managements‘ primary goal is shareholders‘ wealth maximization, which translates into m ...
... firm size, pressure from shareholders and regulatory regimes. Dividend policy connotes to the pay-out policy, which managers pursue in deciding the size and pattern of cash distribution to shareholders over time. Managements‘ primary goal is shareholders‘ wealth maximization, which translates into m ...
Long-Run Stock Returns: Participating in the
... current dividend yield plus their forecast for very low dividend growth. Arnott and Bernstein (2002) argued similarly that the forward-looking equity risk premium is near zero or negative (see also Arnott and Asness 2003). The survey results generally support somewhat higher equity risk premiums. Fo ...
... current dividend yield plus their forecast for very low dividend growth. Arnott and Bernstein (2002) argued similarly that the forward-looking equity risk premium is near zero or negative (see also Arnott and Asness 2003). The survey results generally support somewhat higher equity risk premiums. Fo ...
NBER WORKING PAPER SERIES INCOMPLETE MARKET DYNAMICS IN NEOCLASSICAL PRODUCTION ECONOMY George-Marios Angeletos
... strictly convex, and the wealth distribution has no effect on endogenous aggregates. We conduct the analysis in the GEI growth framework introduced in Angeletos and Calvet (2003). Each agent is both a consumer and a producer, who can invest in a private neoclassical technology with diminishing return ...
... strictly convex, and the wealth distribution has no effect on endogenous aggregates. We conduct the analysis in the GEI growth framework introduced in Angeletos and Calvet (2003). Each agent is both a consumer and a producer, who can invest in a private neoclassical technology with diminishing return ...
xii premio do tesouro nacional
... (SPV) 3 . SPV is responsible for the service established on the contract. Government cannot participate of that society. SPV must follow corporative governance standards and adopt standardized and transparency accounting principals. One of the advantages of SPV creation requirement is the idea of fu ...
... (SPV) 3 . SPV is responsible for the service established on the contract. Government cannot participate of that society. SPV must follow corporative governance standards and adopt standardized and transparency accounting principals. One of the advantages of SPV creation requirement is the idea of fu ...
Returns to Venture Capital - University of Colorado Boulder
... compensation, and performance and pay sensitivity do not appear to be related. Mean scores, The most important factor venture capitalists percentages of total look for in a proposed investment is the sample mentioning it experience of the management team, over the and standard projected returns and ...
... compensation, and performance and pay sensitivity do not appear to be related. Mean scores, The most important factor venture capitalists percentages of total look for in a proposed investment is the sample mentioning it experience of the management team, over the and standard projected returns and ...
PALL CORP (PLL) 10-Q Quarterly report pursuant to sections 13 or
... In April 2009, the FASB issued authoritative guidance that requires publicly traded companies to provide disclosures about fair value of financial instruments in interim financial information. This new guidance is effective with the Company's first quarter of fiscal year 2010. See Note 13, Investmen ...
... In April 2009, the FASB issued authoritative guidance that requires publicly traded companies to provide disclosures about fair value of financial instruments in interim financial information. This new guidance is effective with the Company's first quarter of fiscal year 2010. See Note 13, Investmen ...
Adjusted Free Cash Flow
... The Company also uses adjusted income from continuing operations and the related per share amounts, which amounts are also referred to as “adjusted earnings per share,” as analytical indicators to assess its performance. Management believes the presentation of adjusted income from continuing operati ...
... The Company also uses adjusted income from continuing operations and the related per share amounts, which amounts are also referred to as “adjusted earnings per share,” as analytical indicators to assess its performance. Management believes the presentation of adjusted income from continuing operati ...
Investment Decisions and Financial Standing of Portuguese Firms
... different origins of capital have different costs for firms and thus different attractiveness. The work of Stiglitz and Weiss (1981) and Myers and Majluf (1984) are references when studying the problem of asymmetric information. Stiglitz and Weiss (1981) developed a model of credit rationing where a ...
... different origins of capital have different costs for firms and thus different attractiveness. The work of Stiglitz and Weiss (1981) and Myers and Majluf (1984) are references when studying the problem of asymmetric information. Stiglitz and Weiss (1981) developed a model of credit rationing where a ...
INTEGRATED ANNUAL REPORT 2015 - New Frontier
... expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. Forward-looking statements apply only as of the date on which they are made, and New Frontier does not undertake any obligation to update or revise any of them, wheth ...
... expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. Forward-looking statements apply only as of the date on which they are made, and New Frontier does not undertake any obligation to update or revise any of them, wheth ...
Hillenbrand, Inc. (Form: 8-K, Received: 02/16/2017
... competencies to spur faster and more profitable growth. Given that strategy, it is a natural consequence to incur related expenses, such as amortization from acquired intangible assets and additional interest expense from debt-funded acquisitions. Accordingly, we use Adjusted EBITDA, among other mea ...
... competencies to spur faster and more profitable growth. Given that strategy, it is a natural consequence to incur related expenses, such as amortization from acquired intangible assets and additional interest expense from debt-funded acquisitions. Accordingly, we use Adjusted EBITDA, among other mea ...
Valuation Methods and Banks` Takeover Premium: an
... 2.1 Main issues in valuation of banks In the recent years, the topic of banks valuation has been raising a lot of interest among academics and practitioners. The financial crisis of 2007, which has struck the global banking sector, highlighted that not only the value of a bank has to be measured and ...
... 2.1 Main issues in valuation of banks In the recent years, the topic of banks valuation has been raising a lot of interest among academics and practitioners. The financial crisis of 2007, which has struck the global banking sector, highlighted that not only the value of a bank has to be measured and ...
RTX Telecom A/S
... “Company”), in particular the direction of future product development, future sales, operating profits and business expansion. Such statements are subject to risks and uncertainties as various factors, many of which are outside the control of RTX Telecom, may cause the actual development and results ...
... “Company”), in particular the direction of future product development, future sales, operating profits and business expansion. Such statements are subject to risks and uncertainties as various factors, many of which are outside the control of RTX Telecom, may cause the actual development and results ...
Dividend Policy as a Signaling Mechanism Under Different Market
... governance mechanisms are true, we should expect higher payout ratios to be associated with better stock price performance. Gompers et al. (2003) document that a strategy of buying better governed firms and selling poorly governed firms earns abnormal returns of 8.5 percent per year. We argue that ...
... governance mechanisms are true, we should expect higher payout ratios to be associated with better stock price performance. Gompers et al. (2003) document that a strategy of buying better governed firms and selling poorly governed firms earns abnormal returns of 8.5 percent per year. We argue that ...
AGNICO EAGLE MINES LTD (Form: 6-K, Received
... experience in the region. Peter Marrone, Chairman and Chief Executive Officer of Yamana commented: “At Yamana, we focus on both top-line and bottom-line growth as we strive to deliver value to shareholders, and with this acquisition we expect to deliver exceptional value to our shareholders. This ac ...
... experience in the region. Peter Marrone, Chairman and Chief Executive Officer of Yamana commented: “At Yamana, we focus on both top-line and bottom-line growth as we strive to deliver value to shareholders, and with this acquisition we expect to deliver exceptional value to our shareholders. This ac ...
Keywords: hot and cold deal market, valuation biases, real options
... this project exceeds 0 (Berk & DeMarzo, 2014). As long as the aforementioned future cash flows can be estimated with relative confidence, this is desirable. However, when this is no longer the case, a so called horizon value should be established (see Appendix A for an example of an overview of a DC ...
... this project exceeds 0 (Berk & DeMarzo, 2014). As long as the aforementioned future cash flows can be estimated with relative confidence, this is desirable. However, when this is no longer the case, a so called horizon value should be established (see Appendix A for an example of an overview of a DC ...
chapter 26: managing client portfolios
... Time Horizon. Two time horizons are applicable to Fairfax’s life. The first time horizon represents the period during which Fairfax should set up her financial situation in preparation for the balance of the second time horizon, her retirement period of indefinite length. Of the two horizons, the ...
... Time Horizon. Two time horizons are applicable to Fairfax’s life. The first time horizon represents the period during which Fairfax should set up her financial situation in preparation for the balance of the second time horizon, her retirement period of indefinite length. Of the two horizons, the ...
Slices - personal.kent.edu
... Line of credit – prearranged agreement with a bank that allows the firm to borrow up to a certain amount on a short-term basis Committed – formal legal arrangement that may require a commitment fee and generally has a floating interest rate Non-committed – informal agreement with a bank that is ...
... Line of credit – prearranged agreement with a bank that allows the firm to borrow up to a certain amount on a short-term basis Committed – formal legal arrangement that may require a commitment fee and generally has a floating interest rate Non-committed – informal agreement with a bank that is ...
NBER WORKING PAPER SERIES INTERGENERATIONAL RISKSHARING AND EQUILIBRIUM ASSET PRICES John Y. Campbell
... Important questions are how to combine pay-as-you-go with prefunded pension benefits, and how to adjust benefits and taxes to unanticipated shocks. Traditional public pension systems set fixed benefit rates to be financed by fixed rates of payroll taxation. Economic shocks may require adjustments in ...
... Important questions are how to combine pay-as-you-go with prefunded pension benefits, and how to adjust benefits and taxes to unanticipated shocks. Traditional public pension systems set fixed benefit rates to be financed by fixed rates of payroll taxation. Economic shocks may require adjustments in ...
