Agency Costs of Free Cash Flow‚ Corporate Finance‚ and Takeovers Michael C. Jensen Harvard Business School MJensen@hbs.edu Abstract The interests and incentives of managers and shareholders conflict over such issues as the optimal size of the firm and the payment of cash to shareholders. These conflicts are especially severe in firms with large free cash flows—more cash than profitable investment opportunities. The theory developed here explains 1) the benefits of debt in reducing agency
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The roles of agencies that could be involved in a fire investigation There are multiple agencies that can work with fire investigators. Each of these can either help with preservation of life‚ collection of evidence and finding the cause of the fire as well as helping fix any damage made and try to prevent it. Each of the agencies that will be mentioned help out with these. Police The police are usually the first people on the scene other than the fire services‚ depending on how long it will
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agencies------------------------------------------------- Food and Agriculture Organization (FAO) The Food and Agriculture Organization of the United Nations leads international efforts to defeat hunger. Serving both developed and developing countries‚ FAO acts as a neutral forum where all nations meet as equals to negotiate agreements and debate policy. FAO’s mandate is to raise levels of nutrition‚ improve agricultural productivity‚ better the lives of rural populations and contribute to the
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In the novel‚ Their Eyes Were Watching God‚ by Zora Neale Hurston‚ she explains the journey of one woman’s pursuit to find true love‚ while trying to find her identity as well. The main protagonist‚ Janie‚ must overcome numerous hardships throughout the novel in order to find a voice for herself‚ all while living in a patriarchal society. Although Janie has been treated poorly by some‚ she certainly has proven to be a women in control of her own life‚ creating a path for women to follow in her footsteps
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Social services roles and responsibilities are: • To provide support for vulnerable children and families. NSPCC (National Society for the Prevention of Cruelty to Children) roles and responsibilities are: • Provides support for children and families in situations such as domestic violence‚ abuse. • Work with different organisations e.g. social services‚ police‚ family protection‚ education and health services. • Provide support via telephone line to home-based childcare workers on whether
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Ethics in Policing CJS/210 November 1‚ 2009 William Whitlatch‚ Instructor Ethics in Policing According to Webster’s Dictionary‚ ethics is defined “as the discipline dealing with what is good and bad and with moral duty and obligation” (Merriam-Webster Online). This concept is prevalent in the world of police work since police officers are supposed to be the “good” in whatever is considered a “bad” situation. Many police departments offer training in ethics during the time in which
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ROLE OF NURSE IN COMMUNITY MENTAL HEALTH INTRODUCTION The trend in psychiatric care is shifting from that of inpatient hospitalization to a focus of outpatient care within the community. Community mental health services include all those activities in the community connected with mental health other than the institutional or hospitalized setting. The community approach focuses on the total population of defined geographical area rather than individual patient. Emphasis is mainly on preventive services
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What grade were you in? The teacher I choose to write about is a High School educator whose name is Mrs. Wright. I had her from my sophomore through my senior year. She was the resource teacher for these grades. I have test anxiety‚ have has it since I was a young child‚ and she could get me through without having a panic attack or having to go to the ladies room to puck. This woman was always there to support me while I work through the good and tough times in school no matter what it was. A kindhearted
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union-disliking teachers who aren’t so worried about tenure. But why would teachers give unions and tenure up? Ravitch declares that teachers need their basic rights protected and states in her book‚ “That’s one important reason teachers joined unions: to protect their right to think‚ speak‚ and teach without fear” (174). Critics believe that unions are directly related to poor academic achievement‚ avoiding topics such as economy or communities that students come from. Along with this‚ they believe tenure
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Running Head: REGULATORY AGENCY 1 Regulatory Agency REGULATORY AGENCY 2 Prison health care provides the inmates with medical care from the prisons correctional health provider. There are many thoughts about why inmates should receive health care and one reason is that even though the inmates have
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