Modigliani – Miller The most important building block of the contemporary understanding of capital structure is the Modigliani-Miller proposition about the irrelevance of capital structure. It argues that under the assumptions listed below‚ capital structure does not affect company value (Frank and Goyal‚ 2007). Modigliani and Miller based their theorem on the following assumptions: “(i) neutral taxes‚ (ii) no capital market frictions (i.e.‚ no transaction costs‚ asset trade restrictions or bankruptcy
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Executive Summary California Pizza Kitchen (CPK) was founded in 1985 by Larry Flax and Rick Rosenfield with a vision of offering customers designer pizza at reasonable prices. CPK’s target market is geared towards affluent customers making $75‚000 annually‚ and over the span of 2 decades the business was able to grow from a single location into 213 locations across 28 states and 6 foreign countries. CPK generates revenue from 3 main sources: company restaurants‚ franchises‚ and royalties. CPK stands
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L1 - Modigliani & Miller (1958) ‘The Cost of Capital‚ Corporation Finance and the Theory of Investment’ This article mainly discusses the cost of capital‚ the required return necessary to make a capital budgeting project worthwhile. Cost of capital includes the cost of debt and the cost of equity. Theorist conclude that the cost of capital to the owners of a firm is simply the rate of interest on bonds. In a world without uncertainty the rational approach would be (1) to maximize profits and (2)
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THE SANITATION PRACTICES IN THE DINING AREA OF CALIFORNIA PIZZA KITCHEN RESTAURANT: AN ASSESSMENT A Thesis Proposal Submitted to the College of International Hospitality Management San Sebastian College – Recoletos In Partial Fulfillment of the Requirements For the Degree of Bachelor of Science in Hotel and Restaurant Management Ralph Ryan D. Vergara Gil Louie B. Baldecir Roxlee S. Parreño Jean Ludwinson Lapuz September 22‚ 2011 CHAPTER 1 THE PROBLEM AND ITS BACKGROUND
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Report on Case analysis of California Pizza Kitchen Course (506): Cases in Financial Decision Making SUBMITTED TO: Dr. M. Sadiqul Islam Professor Department of Finance University of Dhaka SUBMITTED BY: Group 21 MBA 16th Batch Department of Finance University of Dhaka Date of Submission April 08‚ 2015 Group No: 21 Serial Name BBA ID MBA ID 1 Farhana Bondhon 16-004 16-615 2 Farha Farzana 16-006 16- 727 3 Marufa Akhter 16-132 16- 657 Letter of Transmittal April 08‚ 2015 Dr. M. Sadiqul
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INTRODUCTION The California Pizza Kitchen was founded in 1985 by attorneys Rick Rosenfield and Larry Flax. The two lawyers worked together to fulfill their desire to enter the restaurant business. They created innovative toppings for their menu with recipes such as the Jamaican Jerk Chicken and the Pear & Gorgonzola pizzas. According to their website‚ they operate “more than 250 CPKs in 32 states and nine foreign countries.” (California Pizza Kitchen‚ unk.) The company opened
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CALIFORNIA PIZZA KITCHEN The case we studied this time is CPK‚ which is a restaurant with creative menu‚ high quality of foods‚ nice dinning environment‚ good dinning atmosphere‚ convenient traffic location and etc. The case discussion this time was more focused on the numerical data instead of strategy analysis. Although it’s not so easy for me to catch up with all information that the present group show‚ I think it’s really interesting. The main problem we need to discuss is how to raise the declining
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California Pizza Kitchen Case California Pizza Kitchen has been operating since 1985 predominantly in California. As of June 2007‚ they had 213 retail locations in the US and abroad. Analysts have put estimates on the potential of 500 full service locations. CPK ’s strategy includes the opening of 16 to 18 new locations this year including the closing of one location. In the second quarter of 2007‚ revenue increased 16% while comparable restaurant sales grew by 5%. Performing comparatively well against
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Professor Ballone 14 February 2014 Obscenity in Miller v. California Today in our criminal justice system there exists a policy known as “The Miller Test”. The purpose of this test is to determine whether or not a given substance is obscene or not. It is a test that is frequently used today by police‚ and its significance is clearly obvious. The “Miller Test” is a direct result from the outcome of the U.S Supreme Court decision‚ Miller v. California. In this case‚ a local business owner who specialized
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company’s capital structure is an indication of a well-managed and successful company and should be a goal for most corporations. Beverly Flax and Rick Rosenfield founded California Pizza Kitchen (CPK) in 1985 in Beverly Hills‚ California. It is a casual dining‚ full service restaurant concept that specializes in gourmet pizzas with unique topping combinations. They operated 213 locations in 28 states and 6 foreign countries by the end of the second quarter of 2007. Almost all of the firms revenue
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