The ultimate goal of any financial manager (as well as the firm) is the maximization of shareholders’ wealth. A good financial manager therefore should carefully consider and weigh the risk of undertaking a certain project against the profits associated with undertaking such a project. Capital Budgeting techniques enable the manager to make such decisions. The first question that comes to mind is‚ when making a capital investment decision‚ should we focus on cash flows or accounting profits
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International Research Journal of Finance and Economics ISSN 1450-2887 Issue 20 (2008) © EuroJournals Publishing‚ Inc. 2008 http://www.eurojournals.com/finance.htm The Impact of Dividend Policy on Shareholders’ Wealth R. Azhagaiah Faculty Member‚ Department of Commerce Kanchi Mamunivar Centre for Post Graduate Studies (Autonomous) (Govt. of Puducherry) Affiliated to Pondicherry Central University Puducherry – 605 008‚ South India E-mail: drrazhagaia@ yahoo.co.in Tel: ++91-0413 – 2255017; Fax:
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and Sonny are partners in‚ rather than creditors to‚ Busy Bee as represented by Rose and Mary to Friendly Bank and if they are determined to be partners‚ whether they would be liable for Busy Bee’s debts to Friendly Bank because of the agency relationship between partners in a partnership. Rules In determining whether there is a partnership‚ the essential elements of a partnership must first be satisfied‚ that is: a business is being carried on; the business is carried on ‘in common’; and
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The Federal Emergency Management Agency‚ or FEMA‚ was created to solve a dire need in America. Disasters‚ unfortunately‚ happen all the time‚ and we as a country need to be prepared to handle them and have a system in place to provide relief after the fact. Throughout the 1960s and 70s‚ a series of disasters struck the nation and those in charge realized that America was poorly suited to help. In 1964‚ the second most powerful earthquake ever recorded hit Alaska‚ killing 139 (Taylor). The Midwest
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journal is available at www.emeraldinsight.com/1755-4179.htm Shareholder and stakeholder theory: after the financial crisis Terence Tse ESCP Europe‚ London‚ UK Abstract Purpose – The recent financial crisis has restarted the debate of the value of both shareholder and stakeholder theories. This paper aims to continue this discussion. Design/methodology/approach – The paper reviews existing literature and examines the benefits and problems associated with these frameworks through the lens of the recent
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AGENCY THEORY AND ACCOUNTING CHOICE: ISSUES AND HALLENGES BY OMEJI IKECHUKWU MAT NO MGS0803060 DEPARTMENT OF ACCOUNTING FACULTY OF MANAGEMENT SCIENCES UNIVERSITY OF BENIN‚ BENIN-CITY‚ EDO STATE‚ NIGERIA. OCTOBER‚ 2012. AGENCY THEORY AND ACCOUNTING CHOICE: ISSUES AND HALLENGES BY OMEJI IKECHUKWU MAT NO MGS0803060 DEPARTMENT OF ACCOUNTING FACULTY OF MANAGEMENT
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ABSTRACT This assignment asserts that problem identification and problem solving processes can be integrated into work processes by imbedding tests that evaluate system-performance. These tests are imbedded in individual work activities‚ in the connections that link those who provide a product‚ service‚ or information with those who receive it‚ and in the overall construction of pathways over which products‚ services‚ and information take their final form. These immediate tests are possible
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1.0 Introduction At its simplest‚ ethics is a system of moral principles. They affect how people make decisions and lead their lives. Ethics is concerned with what is good for individuals and society and is also described as moral philosophy. The term is derived from the Greek word ethos which can mean custom‚ habit‚ character or disposition. Ethics covers the following dilemmas: how to live a good life our rights and responsibilities the language of right and wrong moral decisions - what is good
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than to maximize their own profit. This view is called “Shareholder Theory”. Friedman argued that a company should have no social responsibility to the public or society because it’s only concern is to increase profits for itself and for its shareholders. He states that‚ when companies concern themselves with the community rather than focusing on profits‚ it leads to totalitarianism. In this traditional view of the firm‚ the shareholders or stockholders are the owners of the company‚ and the firm
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History In 1979‚ President Jimmy Carter formed the Federal Emergency Management Agency (FEMA) by consolidating several government organizations. That same year Congress appropriated funds to transfer the Civil Defense Staff College (CDSC) and United States Fire Administration (USFA) and National Fire Academy (NFA) into FEMA. The Civil Defense Program (CDP) had been established in 1947 under the Department of Defense. Training was first offered under this authority in the spring of 1951 at three
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