The facts of this case were that the taxpayer (and three others in partnership) entered a complex scheme‚ which involved the partnership‚ and annuity and loan arrangements. The scheme was financed through a series of "round robin" cheques and promised substantial deductions in the first five years of the 15-year plan. A number of documents were exchanged but no cash payments were made. This was calculated to return neutral cash flows with high tax deductions initially and high assessable income‚
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Auto Workers vs. Johnson Controls‚ Inc‚ 499 U.S. 187 (1991) FACTS The defendant‚ Johnson Controls Inc‚ manufactures batteries; these batteries contain lead as a primary ingredient in the manufacturing process. Only after 8 female employees became pregnant and were found to have lead levels in their blood higher than the recommended Occupational Safety and Health Administration standard‚ Johnson Controls‚ Inc. determined that a female employee who has been exposed to lead is putting any fetus
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Dividend Policy and Firm Performance: Hotel REITs vs. Non-REIT Hotel Companies Executive Summary. This article investigates whether the greater reliance of real estate investment trusts (REITs) relative to non-REIT corporations on external equity financing suggests greater capital market discipline of REIT management‚ or greater access to capital‚ overpaying for assets‚ overbuilding and overinvestment. Our analysis is based on a sample of sixteen hotel REITs and fifty-one non-REIT hotel corporations
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The Impact of Ownership Structure on the Dividend Policy of Japanese Firms with Free Cash Flow Problem Aristotelis Stouraitis Lingling Wu Department of Economics and Finance City University of Hong Kong September 16‚ 2004 * Contact information: Aristotelis Stouraitis (the author who will attend the conference and present the paper)‚ Tel: (852) 2788 8450‚ Fax: (852)2788 8806‚ Email: efstoura@cityu.edu.hk. Lingling Wu‚ Tel: (852)2788 7393‚ Email: 50004340@student.cityu.edu.hk. Address : Department
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Dividend Policy and Stock Price Behaviour in Indian Corporate Sector: A panel data approach Upananda Pani∗ Abstract: This paper attempts to explore the possible links between dividend policy and stock price behaviour in Indian corporate sector. A sample of 500 listed companies from BSE are examined for the years 1996-2006.Dividend policy has always been a source of controversy despite years of theoretical and empirical research both in developed countries and emerging economies. The present paper
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and Modigiliani (1961) prove that dividend policy is irrelevant to share value in perfect and efficient capital markets. In this setup‚ no rational investor has a preference between dividends and capital gains. However‚ dividend payout policy is still discussed extensively until now. In this proposal‚ I use a sample of companies from 33 countries around the world to shed light on the relationship among legal origin‚ insider holdings‚ corporate governance‚ and dividend payout policy. This idea mainly
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Hawkins‚ Ronald E. (1991) Strengthening Marital Intimacy‚ Grand Rapids‚ MI: Baker Book House. Summary: Dr. Hawkins has done a wonderful job in presenting the essential elements of what it takes to have a Biblically sound intimate and committed marriage. In Strengthening Marital Intimacy (1991)‚ he has captured the two foundational truths‚ intimacy and commitment‚ makes a good marriage into a great marriage. It is not enough to know the Word of God intellectually there must be a real surrendering
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1. Dividend Growth ModelThe basic assumption in the Dividend Growth Model is that the dividend is expected to grow at a constant rate. That this growth rate will not change for the duration of the evaluated period. As a result‚ this may skew the resultant for companies that are experiencing rapid growth. The Dividend Growth Model is better suited for those stable companies that fit the model. Those that are growing quickly or that don ’t pay dividends do not fit the assumption parameters‚ and thus
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Daisy’s part: The complicated and good idea of this article: This article is main focus on whether The Stakeholder Approach as a mainstream academic and management literature‚ is consistent with sustainable world goals and whether the application of The Stakeholder Approach at the level of the management could see sustainable world goals retarded or progressed. There are two different approaches to formulating the features of the sustainable world‚ which are reformist approach and Transformational
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From reading the history about Cisco‚ it seems like they are overate in the market field. Other than Cisco‚ let’s compare and contrast Intel and Cisco in their business to business markets with customers. According‚ to Wall Street Daily‚ “Cisco is the world’s leading supplier of data networking equipment and software. Meanwhile‚ Intel is the largest semiconductor company in the world. And neither is likely to get knocked off their perches” (Basenese‚ 2011). Even though both of the companies share
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