fundamental of corporate finance
Vocabulary for MBA
... the delight of his critics Chairman of the Trustees - (Noun) Head of a board, appointed by the State of North Carolina, which is responsible for and in charge of UNC "The chairman of the trustees ... a point of view Like a lot of modern sensibilities, that point of view and that use of the word got their start with the hipsters of the fifties In their mouths, it wasn't a sign of inarticulateness, ... (Phrase) To become a member of the board of directors "I've gone on the board of a couple of technology companies that I have an interest in." This is a very colloquial method of expressing: 'to become...
- 53
- 841
- 3
Microeconomics for MBAs 46
... value by spinning off some of their divisions.21 Another complaint about the spinning off of divisions and downsizing that often accompanies takeovers is that workers are laid off The claim is ... Some of the efficiencies derived from hostile takeovers (and therefore some of the benefits to corporate shareholders) are the result of workers losing their jobs But what is the extent of this ... Wealth, Profitability, and Ownership Structure,” Journal of Financial Economics, Journal of Finance, vol 20 (1988), pp 347-376 26 Michael Ryngaert and Jeffry Netter, “Shareholder Wealth Effects of the...
- 10
- 440
- 0
Microeconomics for MBAs 47
... concept of contestability is similar to that of the older theory of workable competition in the sense of the analysis of the determinants of market performance The major contribution of contestability ... objectives—improvement of the national defense, redistribution of costs of economic decisions, conservation of resources, and provision of certain public goods, such as public safety Economists’ theories of regulation ... size of generators can be increased indefinitely without producing diseconomies of scale is a matter of debate, as we will see later Proponents of large electric plants believe that economies of...
- 10
- 384
- 0
Microeconomics for MBAs 48
... little effect on the rate of profit earned by the industry; but, without the Civil Aeronautic Act and the Board, these profits would have resulted from quite a different sort of operation.”7 It was ... systematic way The Economic or Private Theory of Regulation Why has regulation so often had little (if any) effect in reducing the profitability of regulated industries? Perhaps regulators have ... investment Firms will then be allowed to make profits equal to 10 percent of the value of their plant and equipment Suppose further that the same amount of additional electricity can be generated...
- 10
- 364
- 0
Microeconomics for MBAs 60
... the supply of francs will contract from S to S The dollar price of francs will rise from ER1 , to ER2 , as the equilibrium shifts from E1 , to E2 26 Chapter 17 International Trade and Finance ... immediate impact Control of the Exchange Rate: The Fixed or Pegged Rate System So far our analysis of the international money market has assumed a floating, or flexible, system of exchange in which ... exchange rate, perhaps a fraction of a cent less than the current rate of $.10 = F1 In long-term deals, however, traders inevitably risk losing money because of changes in exchange rates 27 Chapter...
- 5
- 302
- 0
Microeconomics for MBAs 49
... to take advantage of such offers, if many customers so they will end up collectively worse off as the retailers with showrooms go out of business This is clearly an example of consumers finding ... overemphasize the difference between the costs of providing a package of extras (or frills) at expensive hotels, and the value of those extras to guests Because of competition, hotels are strongly motivated ... profitable airlines in the long run? Develop a public interest case for the regulation of barbers and beauticians If a regulatory agency determines electric prices on the basis of a fair rate of...
- 10
- 412
- 0
Microeconomics for MBAs 50
... thereby gain profit), but she will not pay more TABLE 14.1 Computing the Value of the Marginal Product of Labor Value of Each Price of Laborer to Employer Marginal Product Mousetraps (Value of the Marginal ... constant, the greater the quantity of labor demanded Theoretically, what is true of one employer must be true of all That is, the market demand curve for a given type of labor must also slope downward ... leftward shift, to D3 The Supply of Labor The supply of labor is the assumed positive relationship between the real wage rate and the number of workers (or work hours) offered for employment during...
- 10
- 287
- 0
Microeconomics for MBAs 1
... One of the unavoidable conditions of life is the fundamental condition of scarcity Scarcity is the fact that we cannot all have everything we want all the time Put simply, there isn’t enough of ... Chapter The Economic Way of Thinking The Scope of Economics MBA students often associate economics with a rather narrow portion of the human experience: the pursuit of wealth; money and taxes; ... Economic Way of Thinking microeconomics Much of the work of economists is concerned with microeconomic analysis—that is, with the interpretation of events in the marketplace and of personal choices...
- 10
- 364
- 0
Microeconomics for MBAs 2
... efficiency of production Anarchy: A State of Disorder Property rights are so much a part of our everyday experience that we are inclined to think of them as being “natural,” a part of our birthright ... number of coconuts, but has an additional papaya Harry is better off Although relatively simple, the above example of exchange is one of economists’ most important contributions to discussions of ... the summer of 1971, it is redefining the rights that sellers have with regard to the property they sell One of the purposes of economics is to analyze the effect that a realignment of property...
- 10
- 374
- 0
Microeconomics for MBAs 51
... moderate the extent of errors in business One of the most fundamental rules of economics, and the reason d’être the discussions in the “Manager’s Corners,” is that if you offer people a greater ... rate of pay at which a lot of people will work almost any time of the day or night on any day of the year This rule for incentives is not applicable only to the workplace Parents know that one of ... produced Professors are not paid by the number of students they teach Office workers are not paid by the number of forms processed or memos sent Fast food workers are not paid by the number of burgers...
- 10
- 299
- 0
Microeconomics for MBAs 52
... that workers will not buy into them at reasonable rates of pay Another way of explaining the lack of use of piece-rate pay is that they often don’t work as might be expected Incentives still matter ... challenge of incentive pay Of course, it should follow that the demands of the incentive-paid work and the resulting curb in the supply of incentive-paid workers will press the output and wages of ... assume the risk of production variability than their employees are This is because much of the variability in the output of individual workers will be “smoothed out” within a whole group of employees...
- 10
- 361
- 0
Microeconomics for MBAs 3
... description of the seal slaughter in Canada: In 1970, the newspapers carried stories of the barbaric and cruel annual slaughter of baby seals on the ice floes off Prince Edward Island in the Gulf of St ... 1980s that by the turn of the century, a quarter of all firms listed on the American, New York, and over-the-counter Stock Exchanges will, because of distribution of shares of stock and stock options ... incentive pay can increase a firm’s rate of return and stock price, as well as the income of the affected workers One study of thousands of managers of large corporations found that adding a...
- 10
- 368
- 0
Microeconomics for MBAs 4
... must each individual be of the facts on which the working of civilization depends The very division of knowledge increases the necessary ignorance of the individual of most of this knowledge.”33 ... cedar receives six coats of lacquer Do you know all of the ingredients of lacquer? Who would think that the growers of castor beans and the refiners of castor oil are a part of it? They are Why, ... lowest decile of industry performance measured by profit and stock price increases were about 1.5 times as likely to have a change of top executives as firms in the best decile of profit and stock...
- 10
- 432
- 0
Microeconomics for MBAs 5
... are not produced locally, and some of which come thousands of miles from other parts of this country or abroad A man of modest means, with little knowledge of production processes, Fred Lieberman ... them for more purposes Although price is an important part of the definition of demand, it is not the only determinant of how much of a good people will want It may not even be the most important ... the price of substitute goods (which can be used in place of the good in question) If the price of oranges increases, the demand for grapefruit will increase A decrease in the price of complement...
- 10
- 235
- 0
Microeconomics for MBAs 53
... capable of determining, to a significant degree, the “look” and “feel” and profitability of individual store owners As a consequence, storeowners are unlikely to give a percentage of their profits ... “Overpayments” Many workers at the bottom of the typical large corporate pyramid often grumble that their companies’ executives are living off the fat of the workers’ efforts, and that the executives ... that result in the pay of executives exceeding their own individual marginal contributions to company income and profits Some of the high pay of executives is a reflection of intentional incentives...
- 10
- 253
- 0
Microeconomics for MBAs 54
... Graef Crystal, a prominent critic of corporate pay, boards of directors not only raised their CEO pay by an average of 21 percent in 1995 (several times the rate of inflation), but they raised pay ... “flattening” of corporate commandand-control organizational structures The probability of someone becoming a chief executive officer has simply gone down at the same time that the risk of being an ... prospect that the high pay of the top executives in a firm may be a means of driving down the pay of the workers at the bottom Indeed, that can be the purpose of the overpayment of the people at the...
- 10
- 250
- 0
Microeconomics for MBAs 55
... Inefficiencies of Democracy As a form of government, democracy has some important advantages It disperses the power of decision making among a large number of people, reducing the influence of individual ... political positions in the middle of the distribution Politicians can misinterpret the political climate, of course Even with polls, no one can be certain of the distribution of votes before an election ... Tendency of a Two -Party System In a two-party democratic system, elected officials typically take middle -of- the road positions Winning candidates tend to represent the moderate views of many...
- 10
- 291
- 0
Tài liệu Microeconomics for MBAs 6 doc
... will offer less at each price Q1 instead of Q2 at price P2 They must also have a higher price for each quantity P3 instead of P2 for quantity Q2 A few examples will illustrate the impact of ... suppliers of goods and then the suppliers of resources Similarly wholesale prices give Fred Lieberman information on suppliers’ costs of production and the relative scarcity and productivity of resources ... is the maximization of output through careful allocation of resources, given the constraints of supply (producers’ costs) and demand (consumers’ preferences) The achievement of efficiency means...
- 10
- 405
- 0
Tài liệu Microeconomics for MBAs 7 pptx
... had to put up with the abuse and threat of abuse, or be replaced The line outside the employment office was a strong signal to workers Of course, this type of heavy-handed control doesn’t work in ... know whether a research chemist, a creator of software, or a manager, is behaving in ways that make the best use of his talents in promoting the objectives of the firm? Do you knock them down if ... expected of them, immediately and down the road High pay means employers can make greater demands in terms of the scope and intensity of work assignments on their employees This is because of the...
- 10
- 379
- 0
Tài liệu Microeconomics for MBAs 8 pdf
... overpayments off What is mandatory retirement? It is a means of cutting off at some definite point the stream of overpayments It is a means of making it possible, and economically practical, for a ... suffered through years of underpayment early in their careers, but who are, at the time of the abolition of mandatory retirement policy, being overpaid will gain from the passage of the law They can ... smaller overpayments later in their careers Many, if not all, of these younger workers will not be any better off because of the abolition of mandatory retirement than they would have been with a...
- 10
- 397
- 0
Tìm thêm: hệ việt nam nhật bản và sức hấp dẫn của tiếng nhật tại việt nam xác định các mục tiêu của chương trình khảo sát các chuẩn giảng dạy tiếng nhật từ góc độ lí thuyết và thực tiễn khảo sát chương trình đào tạo gắn với các giáo trình cụ thể tiến hành xây dựng chương trình đào tạo dành cho đối tượng không chuyên ngữ tại việt nam điều tra đối với đối tượng giảng viên và đối tượng quản lí điều tra với đối tượng sinh viên học tiếng nhật không chuyên ngữ1 khảo sát các chương trình đào tạo theo những bộ giáo trình tiêu biểu xác định mức độ đáp ứng về văn hoá và chuyên môn trong ct mở máy động cơ lồng sóc mở máy động cơ rôto dây quấn các đặc tính của động cơ điện không đồng bộ hệ số công suất cosp fi p2 đặc tuyến hiệu suất h fi p2 đặc tuyến mômen quay m fi p2 đặc tuyến dòng điện stato i1 fi p2 động cơ điện không đồng bộ một pha sự cần thiết phải đầu tư xây dựng nhà máy thông tin liên lạc và các dịch vụ từ bảng 3 1 ta thấy ngoài hai thành phần chủ yếu và chiếm tỷ lệ cao nhất là tinh bột và cacbonhydrat trong hạt gạo tẻ còn chứa đường cellulose hemicellulose