The Society for Financial Studies Decision Processes‚ Agency Problems‚ and Information: An Economic Analysis of Capital Budgeting Procedures Author(s): Anthony M. Marino and John G. Matsusaka Source: The Review of Financial Studies‚ Vol. 18‚ No. 1 (Spring‚ 2005)‚ pp. 301-325 Published by: Oxford University Press. Sponsor: The Society for Financial Studies. Stable URL: http://www.jstor.org/stable/3598074 . Accessed: 15/11/2013 17:17 Your use of the JSTOR archive indicates your acceptance
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Revenue has become the lifeblood of the government from the moment the Philippines had been given the freedom to establish its own system of governance and formulate laws which formally states the people’s rights‚ duties and obligations. However‚ for the country to continuously sustain the needs of its citizens it has to generate revenues from the different sources available. How will the national government implement the maximization of revenues from local communities
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"America’s Airports: The threat from within" Airports are a very vulnerable place to kill thousands of people with just one try. Many terrorist see airports as vulnerable targets and take advantage of the situation. Unites States of America has received many attacks and after 9-11‚ the U.S. Department of Homeland Security decided to create the federal agency‚ Transportation Security Administration (TSA). But‚ are they taking the correct measures to secure airports? In this essay‚ I will be talking
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technology‚ training). Students to read section 4 and summarise: the difference between job and flow production (e.g. scale‚ flexibility‚ unit costs‚ volume‚ capital intensity) the key elements of the Nissan production process. How do continuous flow methods of production help to reduce costs? Employees (15 minutes) The Sunderland plant is
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IMPROVEMENT TO SKYPE Skype should undergo ongoing changes to constantly improve the reliability‚ scalability‚ and functionality of the everyday Skype experience. Peer to Peer (P2P) in a mobile Skype relied on their users’ computers to do much of the heavy lifting. These computers were typically desktop PCs connected both to power outlets and to the Internet at all times and provided the processing power and connectivity to support Skype’s peer-to-peer (P2P) capabilities. In today’s devices and
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CHAPTER 4 PART II: VALUATION AND CAPITAL BUDGETING Discounted Cash Flow Valuation The signing of big-name athletes is often accompanied by great fanfare‚ but the numbers are often misleading. For example‚ in late 2010‚ catcher Victor Martinez reached a deal with the Detroit Tigers‚ signing a contract with a reported value of $50 million. Not bad‚ especially for someone who makes a living using the “tools of ignorance” (jock jargon for a catcher’s equipment). Another example is the contract signed
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Part e. Estimate the required net working capital for each year and the cash flow due to investments in net working capital. The firm needs to increase its net working capital by 12% of incremental sales revenues. This amount is needed in the year before the sales revenue is earned. The amount for year 0 is 12% x $250‚000 = $30‚000.00‚ and that for year 1‚ 2‚ and 3 are $30‚900.00‚ $31‚827.00‚ and $32‚781.81 respectively. The cash flow due to the changes in the working capital is shown in Table 2
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Under the conditions of perfect competition‚ a market will be allocatively effi cient as long as the fi rms in that market produce at the P=MC level of output. Price is a signal from buyers to sellers‚ and the price seen by fi rms signals the marginal benefi t of consumers in the market. If the price consumers pay for a product is greater than the marginal cost to fi rms of producing it‚ then the message being sent to producers is that more output is demanded. In the pursuit of profi ts
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originally planned for the New Denver Airport‚ and their implications for airport and airline management. Theory‚ industrial experience‚ and the reality at Denver emphasize the difficulty of achieving acceptable standards of performance when novel‚ complex systems are operating near capacity. United Airlines will thus make the Denver system "work" by drastically reducing its complexity and performance. Automated baggage systems are risky. Airlines and airports considering their use should assess
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Kai Tak Airport was the international airport of Hong Kong from 1925 until 1998. It was officially known as the Hong Kong International Airport from 1954 to 6 July 1998‚ when it was closed and replaced by the new Hong Kong International Airport at Chek Lap Kok.It is often known as Hong Kong Kai Tak International Airport‚ or simply Kai Tak‚ to distinguish it from its successor which is often referred to as Chek Lap Kok Airport. With numerous skyscrapers and mountains located to the north and its
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