NBER WORKING PAPER SERIES DO SHAREHOLDERS OF ACQUIRING FIRMS GAIN FROM ACQUISITIONS? Sara B. Moeller Frederik P. Schlingemann René M. Stulz Working Paper 9523 http://www.nber.org/papers/w9523 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge‚ MA 02138 February 2003 We are grateful to Harry DeAngelo and Ralph Walkling for useful comments. The views expressed herein are those of the author and not necessarily those of the National Bureau of Economic Research. ©2003 by Sara
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Finance & Accounting‚ 29(7) & (8)‚ Sept./Oct. 2002‚ 0306-686X Dividend Imputation and Shareholder Wealth: The Case of New Zealand Andrew Prevost‚ Ramesh P. Rao and John D. Wagster* 1. INTRODUCTION Effective from April 1‚ 1988‚ New Zealand changed its existing two-tier `classical ’ dividend taxation regime to full dividend imputation. Corporate income is now only taxed once rather than at both the corporate and shareholder level. Concurrently‚ the New Zealand tax code was revised‚ reducing the top personal
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Theodore Geisel: a poet‚ a cartoonist‚ an author‚ and a political activist. To children‚ this man is known dearly by his pseudonym‚ Dr. Seuss. Geisel‚ considered to be the greatest of all children’s writers‚ was an alumnus of the renowned Dartmouth College‚ and Lincoln College‚ Oxford. Through senseless language‚ wild settings‚ and nonsensical plots‚ Seuss emboldens all children to grow fond and enjoy reading. His wife‚ Helen Palmer-Seuss‚ said‚ “Ted doesn’t sit down and write for children. He writes
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Later on life he adopted X‚ which became a symbol to represent his lost past‚ particularly the rejection of his “slave” name. Malcolm X was an activist and an outspoken public voice for the Black Muslim Faith who challenged the civil Rights movement and the non-violent pursuit of integration that was led by Martin Luther King Jr. Malcolm X was an activist who believed that non-violent acts would achieve nothing in receiving racial equality‚ he believed that people had to take action. He once said
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accomplishments‚ ideals‚ and lifestyles. The nation was comprised of myriad families cut from the same cookie-cutter shape. Few chose to challenge the demands of the conformed society. Among the opponents of society were youth and Civil Rights activists‚ who expressed and represented their demographic through practices that would shock and alienate them from the nation. The 1950s introduced the United States to a new term: the teenager. The teenager revolutionized youth of the period‚ who
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Exercise 2.4 SHARE ISSUE‚ OPTIONS Prepare the journal entries in the records of Jordan Ltd in relation to the equity transactions in 2014. JORDAN LTD 25/3 Cash trust – shares Dr 750 000 Application – shares Cr 750 000 (Applications for shares) Cash trust – options Dr 10 000 Application – options Cr 10 000 (Applications for options) 2/4 Cash Dr 610 000 Cash trust – shares Cr 600 000 Cash trust – options Cr 10 000 (Transfer on issue of shares and options) Application – shares
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Amy Smith Professor ashton EDEL 325 February 26‚ 2014 Unsung Heroes A hero is a person who is admired for great or brave acts or fine qualities. In Zinn’s “Unsung Heroes” he enumerates false heroes that are often found among former US presidents and military people. Zinn reminds us of the crimes each of them has committed. He suggests that the undue idols be taken off their pedestal and be replaced by real heroes. Zinn is supporting all of the “unremembered” heroes in the United States and in
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Elizabeth Cady Stanton was a political activist in more than just the abolitionist cause‚ she is also credited with being the mother of the woman’s suffrage movement. Stanton served as the president of the National Woman Suffrage Association and frequently lectured on topics of law. The education and informal legal training Stanton received through the men in her life undoubtedly aided her in her activist writing and speeches. Her father was a New York state congressman and judge and she informally
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Do Mergers and Acquisitions Create Shareholder Wealth In The Pharmaceutical Industry? Mahmud Hassan‚ Dilip K. Patro‚ Howard Tuckman and Xiaoli Wang* Purpose: This paper analyzes mergers and acquisitions (M&A) focusing on the U.S. pharmaceutical industry in the period 1981-2004. This industry is chosen because it is global‚ engages intensively in M&A which it uses to both complement and substitute for early stage research‚ and because the potential abnormal returns to blockbuster drugs are
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Summary of “Unsung Heroes.” In the article “Unsung Heroes” published in June 2000 issue of The Progressive‚ Howard Zinn argues that people must recognize unsung heroes and replace many national idols such as Andrew Jackson‚ Abraham Lincoln‚ and Theodore Roosevelt with more honorable people such as John Ross‚ Mark Twain‚ Emma Goldman‚ and Helen Keller. According to Mr. Zinn‚ historical figures‚ which are seen as national idols in America today‚ are presented to the public opinion in over-simplified
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