THE JOURNAL OF FINANCE • VOL. LIII‚ NO. 4 • AUGUST 1998 Agency Costs‚ Risk Management‚ and Capital Structure HAYNE E. LELAND* ABSTRACT The joint determination of capital structure and investment risk is examined. Optimal capital structure ref lects both the tax advantages of debt less default costs ~Modigliani and Miller ~1958‚ 1963!!‚ and the agency costs resulting from asset substitution ~Jensen and Meckling ~1976!!. Agency costs restrict leverage and debt maturity and increase yield
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1.1 Explain the benefits of knowing the purpose of communication. Communication is key in any business‚ it keeps the productivity of the business high and all colleagues feel part of the team as well as the company if they are being communicating with properly. It is also important to communicate with customers properly via phone‚ email‚ fax etc. By not communicating with customers properly we could lose their business and potentially develop a bad reputation. At Traplet it is extremely important
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TITLE: IMPLICATIONS OF INTELLECTUAL CAPITAL ON HUMAN RESOURCES MANAGEMENT TABLE OF CONTENTS 1. Introduction pg 3 2. Elements of Intellectual Capital pg. 3 3. Preserving Intellectual Capital pg. 4 4. The Importance Of Implementing Intellectual Capital Processes pg. 4-5 5. The Value Factor
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FINANCIAL MANAGEMENT: CAPITAL BUDGETING MINI CASE 1 CAPITAL BUDGETING (MINI CASE) QUESTION A What is capital budgeting? Solution: Capital budgeting is a required managerial tool. One duty of a financial manager is to choose investments with satisfactory cash flows and rates of return. Therefore‚ a financial manager must be able to decide whether an investment is worth undertaking and be able to choose intelligently between two or more alternatives. To do this‚ a sound procedure to evaluate
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CONTENTS PREFACE ACKNOWLEDGEMENT BOARD OF DIRECTORS ORGANIZATION CHART OF BPCL INTRODUCTION OF COMPANY CUSTOMER OF BPCL PRODUCT PROFILE QUALITY ASSUARANCE SWOT ANALYSIS STRATEGY FORMULATION MARKETING STRATEGY MANAGEMENT PROBLEM SEGMENTATION RECOMMENDATION PERFORMANCE HIGHLIGHT FINANCIAL AND PHYSICAL PERFORMANCE REPORT CONCLUSION CERTIFICATE OF APPRECIATION BIBLIOGRAPHY PREFACE The instrument of government owing property is
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CASH HOLDINGS‚ WORKING CAPITAL AND FIRM VALUE: EVIDENCE FROM FRANCE Ruta AUTUKAITE* – Eric MOLAY** Abstract: Although companies deal with day-to-day short term financial decisions‚ in corporate finance the emphasis is being put on long term financial issues when talking about company’s value. In this paper a sample of French listed companies was chosen to assess the importance of short term financial decisions to company’s value by testing the following hypotheses: an extra euro invested in cash
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quality; Working Capital Adequacy‚ Asset Performance and Capital Structure. Let us consider Working Capital Adequacy‚ to evaluate the investment quality of a business organization. WORKING CAPITAL; Working capital may be regarded as lifeline of a business. It provides the ability to fund business operations‚ reinvest and meet capital requirements and payments. Understanding a business’s working capital health is essential to make investment decisions. A good way to judge a company’s working capital
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2010:123) Right work space: The workplace has an important impact that on talent planning‚ as the environment is productivity. By reconfiguring the space where people work we are able to get better efficiency on bigger group at lower costs. For example‚ Capital
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Unions and Management Working Together Stephanie A. Pilgere BUS 372 Employee and Labor Relations Tika Dave March 17‚ 2014 Unions and Management Working Together Introduction Unions and organizations have had a disagreeable relationship from the very beginning; which dates back to the mid 1800s when unionization started. The reason being‚ they both had very different beliefs and perspectives on laborers‚ working conditions and benefits. In this paper‚ we will briefly discuss the start of unionization
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ITM 309 Spring‚ 2012 Exam Two Topics: Review Outline - March 21‚ 2012 Ethics and Information Security – Chapter 4 Business Ethics BW: Ethics 101 for Interns (Supplemental Reading) Information Management Policies • The protection of information from accidental or intentional misuse by persons inside or outside an organization Security Management Planning and Lines of Defense • 1st Line of Defense – People o The biggest issue regarding information security is a people issue • Insiders‚
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