Equity Equity means social justice or fairness; it is an ethical concept‚ grounded in principles of distributive justice.39–[->0]42[->1] Equity in health can be—and has widely been—defined as the absence of socially unjust or unfair health disparities.1‚[->2]6[->3] However‚ because social justice and fairness can be interpreted differently by different people in different settings‚ a definition is needed that can be operationalised based on measurable criteria. For the purposes of operationalisation
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Bidding for Hertz: Leveraged Buyout Case The dual-track process used by Ford to initiate “consideration of strategic alternatives” makes the bidding process for Hertz more difficult. The bidding group has to spend more time to gather more information required for the process. To be able to give out an acceptable price‚ which maximizes the value for Ford‚ the cost the group has to put to buyout is also higher. Longer time to collect the information means the group lose its competitive advantages
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Ducati & Texas Pacific Group – A ”Wild Ride” Leveraged Buyout 1. What is the nature of the opportunity? Could the Ducati brand be expanded beyond motorcycles? Why or why not? TPG strategy is to invest in undervalued firms’ that usually have been poorly managed. The investments are made in privately hold firms that are either unlisted from the beginning or that is being delisted from the stock exchange under the LBO process. TPG wants to invest in firms with a “healthy” basis but that are experience
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A PROJECT REPORT ON EQUITIES AND PORTFOLIO MANAGEMENT Submitted in the partial fulfillment for the award of the degree of MASTER OF BUSINESS ADMINISTRATION BY A.INDU ROLL NO: 0640-60-121 Under the guidance of Mr.Mahender [pic] BHAVAN’S VIVEKANANDA COLLEGE Sainikpuri‚ Secunderabad (AFFILAITED TO OSMANIA UNIVERSITY) 2006-2008 DECLARATION I hereby declare that this Project Report titled EQUITIES AND PORTFOLIO MANAGEMENT submitted by me to the Department of Business
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HBS Case Study No. 9-294-122 Strategic Financial Management. Dividend Policy related Sealed Air Corporation’ s Leveraged Capitalisation (A) Sealed Air undertook a leveraged recapitalisation in order to provide funds necessary to pay • the special dividend‚ • refinance certain existing indebtedness‚ • pay related fees and expenses and • provide working capital A leveraged recapitalisation by Sealed Air Corp in our opinion was a good idea because the corp. has reached a stage where they
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1 The statement by Henry Kravis that private equity was in its “golden era” might sound like hubris to the unacquainted observer but may actually not be far off from the reality given the growth of private equity funds under management since the advent of large-scale leveraged buy-outs (LBOs) in the 1980s. Henry Kravis as a principal partner in Kohlberg‚ Kravis & Roberts (KKR) pioneered LBOs in the late 1970s and KKR has been a major private equity firm since having reportedly invested in over 160
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Chapter 17 Mini Case The Leveraged Buyout of Cheek Products‚ Inc (in millions) 2007 2008 2009 2010 2011 PV of UCF 2007-2011 at 14% Sales $1‚627 $1‚824 $1‚965 $2‚012 $2‚106 = (1‚735/1.14)+(1‚519/1.142)+(1‚188/1.143)+(1‚192/1.144)+(1‚251/1.145) Costs 432 568 597 645 680 4‚848 Depreciation 287 305 318 334 340 EBT 908 951 1‚050 1‚033 1‚086 UTV Less taxes (363) (380) (420) (413) (434) = (1
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volatility‚ should we expect Microsoft to have an equity cost of capital that is higher than 10%? No‚ Microsoft is diversifiable and it will not be affected by the changes in the market. We do not expect Microsoft’s equity cost of capital to be higher than 10%. Each stock carries its own weight. B. What would have to be true for Microsoft’s equity cost of capital to be equal to 10%? In order for Microsoft’s equity cost of capital to be 10% its beta will have to be 1. 4. Suppose all possible
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Private equity Private equity is a source of investment capital from high net worth individuals and institutions for the purpose of investing and acquiring equity ownership in companies. Partners at private equity firms raise funds and manage these monies for the purpose of yielding favorable returns for their shareholder clients‚ typically with an investment horizon between four and seven years. These funds can be used in the purchase of shares of private companies‚ or in public companies
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Customer equity is a result of customer relationship management. Customer equity is the total of discounted lifetime values of all of the firms customers. In layman terms‚ the more loyal a customer‚ the more is the customer equity. Firms like McDonalds‚ Apple and Facebook have very high customer equity and that is why they have an amazing and sustainable competitive advantage. Customer Equity is made up of three components. Value Equity‚ Brand Equity and Relationship Equity. Value Equity
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