THE JOURNAL OF FINANCE • VOL. LXIV‚ NO. 4 • AUGUST 2009 Agency Problems at Dual-Class Companies RONALD W. MASULIS‚ CONG WANG‚ and FEI XIE∗ ABSTRACT Using a sample of U.S. dual-class companies‚ we examine how divergence between insider voting and cash f low rights affects managerial extraction of private benefits of control. We find that as this divergence widens‚ corporate cash holdings are worth less to outside shareholders‚ CEOs receive higher compensation‚ managers make shareholder value-destroying
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Technology and Communication Paper Communication and technology are two things that are considered extremely important in a law-enforcement agency. Over the last 20 years technology has grown smarter‚ faster and has become cheaper to law-enforcement agencies as well as the public. Overtime technology has moved from pay phones to smart phones and television waves to digital high-definition picture. There are two main specialized databases that have recently been upgraded to better serve police forces
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Business and Society Review 110:1 59– 76 Applying the Agency and Stakeholder Theories to the Enron Debacle: An Ethical Perspective Blackwell Oxford‚ Business BASR © 0045-3609 O 1 110 BUSINESS CULPAN riginal 2004 Center UK Article and and Publishing‚ and TRUSSEL Society for SOCIETY Business Ltd. Review REVIEW Ethics at Bentley College REFIK CULPAN AND JOHN TRUSSEL INTRODUCTION W e examine the infamous Enron debacle from an ethical perspective by defining its theoretical underpinnings and analyzing
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Sharen P. Cupido 7-St. Therese The Philippine Drug Enforcement Agency (PDEA) (Filipino: Kawanihan ng Pilipinas Laban sa Droga) is the lead anti-drugs law enforcement agency‚ responsible for preventing‚ investigating and combating any dangerous drugs‚ controlled precursors and essential chemicals within the Philippines. The agency is tasked with the enforcement of the penal and regulatory provisions of Republic Act No. 9165 (R.A. 9165)‚ otherwise known as the Comprehensive Dangerous Drugs
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Ethics and Agency Issues in Negotiation Prof. Sungu Armagan “Bullard Houses” Negotiation DOWNTOWN‚ Inc. Downtown Reality seller representative ABSENTIA‚ Ltd Jones & Jones Reality buyer representative 2 Ethics and Agency Issues “Bullard Houses” 3 Agreements on board 4 seller buyer BATNA rp interests 5 Instructor version Going through agreements on board 6 Instructor version Bargaining Zone 7 Instructor version Debrief 8 Instructor version Debrief 9 Is it ethical
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Travel Agency Supply Chain Travel Agency Supply Chain With eCommerce technology rapidly improving and the number of people using the Internet increasing everyday‚ "brick and mortar" travel agencies are turning to non-traditional methods when developing their supply chain. Over the past 10 years the supply chain of the travel agency has evolved tremendously in order to incorporate the use of websites to promote online sales. In the following paper we will first describe the supply chain for
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Agency Costs and Financial Decision-Making The Concept An agency relationship is a contract under which one or more persons (the principal(s)) engage another person (the agent) to perform some service on their behalf which involves delegating some decision making authority to the agent. If both parties to the relationship are utility maximizers and they may have divergent goals and objectives‚ and there is good reason to believe that the agent will not always act in the best interests of the
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The agency theory deals with agency problems resulting from conflicts of interest that may emerge in contractual relationships when parties are differently informed or uncertain. The main objective of agency theory is to explain how contracting parties design contracts to minimize the costs associated with such problems. Agency theory also underscores the existence of market and institutional mechanisms that complete contracts to reduce these problems. Agency theory upon two key concepts: asymmetric
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titled as a “GO TRAVEL AGENCY”.This business plan is written as an operational guide for internal management as well as to reveal Go travel agency investment opportunity for financial investor. This business show that : 1) a significant company opportunity exists when analyzing the current market demands and competitive landscape; 2) the management team set in place is well-qualified to execute on a comprehensive operational‚ticketing and documentation plan; and lastly 3) the right capital structure
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Organizational Behavior Paper Managing organizational change in a criminal justice agency is similar to organizing change in the organizational setting but the change will be impacted by other aspects such as the due process rights of the citizen‚ a strict hierarchy‚ procedural or substantive laws‚ and the organizational culture. For example the police culture is strictly hierarchal and focused on investigating crimes within the confines of due process law. Any changes in the police culture will
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