NBER WORKING PAPER SERIES THE CAPITAL STRUCTURE DECISIONS OF NEW FIRMS Alicia M. Robb David T. Robinson Working Paper 16272 http://www.nber.org/papers/w16272 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge‚ MA 02138 August 2010 The authors are grateful to the Kauffman Foundation for generous financial support. Malcolm Baker‚ Thomas Hellmann‚ Antoinette Schoar‚ Ivo Welch‚ and seminar participants at the Kauffman/Cleveland Federal Reserve Bank Entrepreneurial Finance
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First Article Review Leon Cohen Indiana University Section I: Article Summary In the article ‘Do Gay-Friendly Corporate Policies Enhance Firm Performance?’ the potential outcomes of a firm adopting gay-friendly policies‚ such as anti-discrimination policies and the extension of benefits to couples‚ are studied. When the results of the study were assessed‚ it was found that the adoption of gay-friendly policies had improved the studied firms in multiple ways. It was observed that more employees were
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CSR PRACTICES OF INDIAN FIRMS In order to have some insight into the various practices and initiatives taken by the corporates some leading Indian firms were selected which are Hindustan Unilever Ltd‚ ACC Ltd‚ Ashok Leyland Ltd.‚ Apollo hospitals Enterprise Ltd.‚ DLF ltd.‚ Ultratech Cement‚ Pepsi Co. India. HINDUSTAN UNILIVER LTD. Hindustan Uniliver Ltd. 4 is the India’s largest Fast Moving Consumer Goods Company with a heritage of over 75 years in India. With over 35 brands spanning 20 distinct
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is solely responsible for approving major strategic and financial decisions‚ such as mergers and acquisitions and changes in capital structure‚ and also for the most important task of all‚ which is to hire and fire top executives. Effective boards build capabilities within themselves and their organizations that allow them to do both protect existing assets (compliance role). A board is a group of diverse individuals who have different biases and prejudices and whose behavior is affected by social
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ledger and con’s on the other. The case cites five different options that management has identified‚ so there is a good starting point. Students can be asked to offer both positive and negative comments on the situation and John’s behavior as a first step toward a more complete analysis of what the problems are and how best to deal with them. Next‚ students can be asked if there are alternative options that top management has not considered and if so‚ the benefits and drawbacks of each of these
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comes from‚ where it goes and how your firm monitors‚ reports and plans finances is crucial for executive directors and administrators. However‚ even a legal management professional with an accounting background may not be fluent in the nuances of accounting and finance as it pertains to your firm. While law firms are businesses‚ the inherent financial concepts taught in financial management and accounting courses may not prepare you for the reality in the firm. “There’s such a big difference in
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Committee‚ 1992). The mishaps caused by the weak corporate governance structure have caused chaos in the corporate world around the globe. Corporate governance is represented by general set of customs‚ regulations‚ habits‚ and laws that determine how a firm should be run as to maximize the wealth of its stockholders. So‚ in broader sense‚ corporate governance is maximizing the shareholder’s value by ensuring practices which are fair with regard to all stakeholders‚ customers‚ employees‚ investors‚ vendors
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Consultant Scenario CLW Consulting Firm is a leading education consulting firm dedicated to improving access to quality and affordable education in disadvantaged‚ disenfranchised communities. Founded in the midst the education crisis in America‚ CLW Consulting Firm strives to improve and increase College entrance rates in too Universities for students in inner city communities throughout the county. Description of Firm CLW Consulting Firm is an Internet based organization‚ working closely with clients
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authors found the most difficult the financial part of the plan. It is a problem to project the sales when the business is in the initial stage. Because of its nature the business plan is under continual development. This project focuses only on the first year of the business with some projections for a further-years period. Particularly useful for the project was the book: "Der Businessplan: Geschäftspläne profesionell erstellen / Mit Checklisten und Fallbeispielen" by Anna Nagl (2005) and the Information
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When planning the merger between Myrtle & Associates and Bellview Law Group‚ to one firm called MAB Law Firm‚ foresight is needed so that possible issues can be seen‚ addressed as best as possible‚ and limit the integration costs as it relates to the information technology infrastructure of both firms into one site. Differences between the two firms’ infrastructure include two different sets of network operating systems‚ servers‚ network connectivity‚ workstations‚ software‚ security configurations
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