Why Do Firms Pay Dividends? International Evidence on the Determinants of Dividend Policy* DAVID J. DENIS** Krannert School of Management Purdue University West Lafayette‚ IN 47907 djdenis@purdue.edu IGOR OSOBOV Georgia State University Department of Finance Atlanta‚ GA 30303 iosobov@gsu.edu May‚ 2007 We thank Yakov Amihud‚ Harry DeAngelo‚ Linda DeAngelo‚ Diane Denis‚ Jim Hsieh‚ Omesh Kini‚ Erik Lie‚ John McConnell‚ Lalitha Naveen‚ Raghu Rau‚ Steve Smith‚ Jeff Wurgler‚ an anonymous referee
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relationship between public debt and economic growth the case of Portugal NAME STUDENT ID DEGREE SUPERVISOR TITLE WORD COUNT DATE CAMPUS. . Investigating the relationship between public debt and economic growth the case of Portugal 11‚499 . ABSTRACT The implications of public obligation on economic growth are very important to be researched as background to economic policies of a country. A country partly based on the comprehension of the relationship between public debt and economic growth to identify
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International Tax and Estate Planning Law Firm of Cantor & Webb Shortlisted Among Finalists to Win Two Prestigious Industry Awards (1888 PressRelease) Cantor & Webb have been shortlisted for two highly desired industry accolades recognizing the "best of breed" in the private client industry for their demonstrated innovation and excellence during the 2013 year. Miami‚ Florida - Miami based international tax planning boutique law firm of Cantor & Webb (http://www.cantorwebb.com/) has
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Debt Policy at UST Attributes and Risks of UST UST is the market leader in the moist tobacco segment. In a struggling tobacco industry‚ UST has shown consistent growth over the past few decades. Despite the decrease in demand for smoked (cigarette) tobacco‚ there is a growing demand for UST’s products. The perception that smokeless tobacco is healthier than smoked tobacco has helped the company to build a strong customer base. Therefore‚ despite some legislative setbacks‚ the company is growing
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TABLE OF CONTENT I. ABSTRACT 1 II. INTRODUCTION 2 III. BACKGROUND 4 1. Definition of debt and equity 4 a) Definition of Debt 4 b) Definition of equity 5 2. Example of mix structure capital 5 IV. TECHNICAL SECTION 11 1. Debt Financing – Pros & Cons 11 a) Definition and Classifications of Debt Financing 11 b) Advantages of Debt Financing 14 c) Disadvantages of Debt Financing 15 2. Equity Financing – Pros & Cons 16 a) Definition & Classifications of Equity Financing 16
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wrote of the individual and collective embodiment of the “entrepreneurial spirit” – the “Unternehmergeist”. One company that channels this “geist” is the Sillicon Valley‚ California-based design and consultancy firm‚ IDEO. Founded in 1991‚ this self-styled innovation and design firm balances process and product innovations grounded in a human-centred design philosophy. Through this approach IDEO elided the pitfalls of the technology push versus demand-led innovation dichotomy to produce products
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Growth This paper investigates the design of tax structures to promote economic growth. It suggests a “tax and growth” ranking of taxes‚ confirming results from earlier literature but providing a more detailed disaggregation of taxes. Corporate taxes are found to be most harmful for growth‚ followed by personal income taxes‚ and then consumption taxes. Recurrent taxes on immovable property appear to have the least impact. A revenue neutral growth-oriented tax reform would‚ therefore‚ be to shift part
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Case Study: Economic Crisis and Higher Education in the United States The 2008–2012 economic failure is considered by many economists and investors to be the worst financial crisis since the Great Depression of the 1930s. It results in the risk of total collapse from big financial firms‚ the bailout of banks by national governments‚ and downturns in stock markets around the world. The crisis also plays a significant role in the crash of key businesses and collapse of housing market‚ results in
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Australia’s foreign debt In recent years‚ Australia’s debt to the rest of the world has increased‚ and grew on average by 6.1% per year between June 1999 and June 2009‚ increasing from $15‚400 to $27‚900 in 2007-08. The growth in a country’s foreign debt can reflect several related influences. The value of its imports and other current payments to foreigners may exceed the value of its exports and other current receipts from foreigners‚ is this is the case then the nation experiences a deficit
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Definition of Tax ; The word ‘tax’ has been derived from the French word ‘taxe’ and the Latin word ‘taxare’ which means ‘to charge’. Tax is a contribution exacted by the state. It is a non-penal but compulsory and unrequited transfer of resources from the private to the public sector‚ levied on the basis of predetermined criteria. According to P. E. Taylor‚ “ Taxes are compulsory payment to government without expectation of direct return in benefit to the taxpayer. According to
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