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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Overview Blades‚ Inc.‚ is a USA based company that has been in corporate in the United States for three years. Blade relatively is a small Company‚ with total assets of only $200 million. The company produces only a single type of roller blade. Ben Holt the CFO of the Blades Inc. Financial Information Total assets of was only $200 million and first year net income of $3.5 million. Return on asset is 7%. It stock price has fallen from high of $20 per share three years ago to $12
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GLOBAL PEACE – FROM WHAT SOURCE? Song 65 1 MULTITUDES YEARN FOR GLOBAL PEACE On 28 June 1914 a hand grenade was rolled beneath a car travelling in a motorcade in the city of Sarajevo in Yugoslavia. The grenade missed its intended target and exploded beneath the following car‚ injuring several people. The first car continued on its way and the occupants attended a welcome ceremony at the Sarajevo Town Hall. Just a short time later‚ the VIPs from the first car decided to visit the injured
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Did Cyprus Gain Independence From The UK? The Republic of Cyprus gained independence from the UK on August 16‚ 1960. From the word go‚ Cyprus’ independence was going to be thorny issue due to its ethnic composition that includes Turks and Greeks. The London and Zurich Agreements developed a constitution for an independent Cyprus after the February 19‚ 1959 agreement between the UK‚ Turkey and Greece. according to the agreement‚ the UK would maintain two sovereign bases in the country whereas the
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Advantages and Disadvantages of switching from U.S.GAAP to IFRS Nara Yoon Charles Center Summer 2009 2 Advantages and Disadvantages of switching from U.S.GAAP to IFRS In today’s business‚ markets are demanding increasing conformity. Many countries have converted to and implemented the International Accounting Standards Board (IASB)’s accounting standards. The United States‚ however‚ still maintains its own Financial Accounting Standards Board (FASB). Both IASB and FASB have created International
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Economics Outline • Thailand in Brief • Analysis Frameworks • • • • – SWOT Analysis – PEST Analysis Exclusive Interview: Thailand vs. Vietnam Investment Climate Business Implications Conclusion PART 1) THAILAND IN BRIEF THAILAND IN BRIEF • • • • • GDP Size (USD billions) 365.6 GDP PPP (% of world) = 0.78 GDP Per Capita (USD) = 5‚678 Population (millions) = 69.5 Setting: the center of the Indochina peninsula‚ Southeast Asia Comparing Thailand’s GDP with other ASEAN Countries USD 60‚000 50‚000
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standard. Foreign nations became dependent on the United States’ prosperity because economic problems‚ such as crop failures‚ were affecting their stability. This along with many other factors developed America’s strong sense of nationalism. The concept of social Darwinism was applied not only to domestic concerns‚ but to foreign concerns as well. Americans felt that their previous abilities to empower themselves over the Native Americans set as a precedent for their capability to influence foreign nations
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Outsourcing American jobs to Foreign Countries WUI student University of Phoenix COM 110 Professor Olivia Miller August 13‚ 2006 Outsourcing American Jobs to Foreign Countries Outsourcing American jobs to foreign countries is slowly destroying our economy. You hear it all the time on the news‚ and you read about it the paper. Unemployment is rising‚ the cost of living is rising‚ and our economy is on shaky ground. So what exactly is outsourcing? Well
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International Flow of Funds - Blades PLC Case Study Ben Holt‚ the finance director of Blades plc‚ has decided to counteract the decreasing demand for “Speedos” roller blades by exporting this product to Thailand. Furthermore‚ due to the low cost of rubber and plastic in Southeast Asia‚ Holt has decided to import some of the components needed to manufacture “Speedos” from Thailand. Holt feels that importing rubber and plastic components from Thailand will provide Blades with a cost advantage (the components imported
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“What Is Knowledge?” from The Meno The opinions which we believe and are right‚ are called “true opinions”. According to Plato’s dialogue from The Meno‚ when true opinions remain stable they can serve equally as well as knowledge until people forget their opinion or change their mind some time later. Knowledge is “tied down” by giving the reasons why it is so. Opinions‚ even if beautiful‚ can “escape from a man’s mind” without justification. Moreover‚ opinions lead less reliability compare with
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