...2012 Orientation for MGT 575 F3B 5:30 p.m.-6 p.m. MGT 575 F3B Information Systems for Managers 5 3 Jan. 31, 2012 Feb. 14–April 24 Orientation for MGT 571 F3B 5:30 – 6:00 p.m. MGT 571 F3B Executive Economic Analysis 10 3 No Class No Class Feb. 7 April 3 Rev. 09/19/11 TERM 3 (40) COURSES 05/01/12-08/21/12 April 24, 2012 May 1–June 5 Orientation for MPM 500 F5B 5:30 p.m.-6 p.m. MPM 500 F5B Introduction to Project Management WEEKS/CREDITS (9 credits = full time) No Class May 29 June 5, 2012 June 12–Aug. 21 3 10 Orientation for MGT 555 F5B 5:30 p.m.-6 p.m. MGT 555 F5B Managerial Finance 5 3 No Class July 3 TERM 4 (10) COURSES 08/28/12-12/18/12 Aug. 21, 2012 Aug. 28–Oct. 2 Orientation for MGT 580...
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...Power crash in india The investment opportunities in the Indian power sector are immense. The power ministry has set a target for adding 76,000 MW of electricity capacity in the 12th Plan (2012-17) and 93,000 MW in the 13th Five-Year Plan (2017-2022). As per the funding requirement of the 12th five year plan, a capital requirement of Rs. 13, 72, 580 crores is estimated to arise. The main sources of financing are commercial banks, public financial institutions, dedicated infrastructure/power finance institutions, insurance companies, overseas markets, bilateral/multilateral credit, bond markets and equity markets. The power sector was one of the first sectors to be opened up to private investment in the 1990s. Today it is the sixth largest attracter of Foreign Direct Investment (FDI) with upto 100 per cent FDI being allowed under automatic routes for projects of electricity generation, transmission, distribution and power trading. Along with this there are several government initiated policies to promote and garner investments in the power sector. For eg. The National Electricity Policy which aims at power for all and annual per capita consumption of electricity to rise by end of 2012. However, even today the country is faced with major challenges in the form of a persistent demand supply gap of approximately 9% and culmination of the same has come in the form of two massive power grid failures in the month of July. India suffered from the biggest power outage...
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...Emerson. It was then known as the School for Commerce, Finance, and Accounting, and prepared students for careers in the financial markets of New York City. In 1988, following a $30 million gift from alumnus Leonard N. Stern (MBA 1959), the school improved its facilities, and was renamed the Leonard N. Stern School of Business. Ten years later, in 1998, a $10 million gift from Henry Kaufman (PhD 1958) supported a major upgrade of Stern’s facilities. In 1999 came a similar gift from Kenneth Langone (MBA 1960). In 2000, Stern celebrated its centenary with the launch of a $100 million Centennial Campaign, which helped the school double its endowment, enhance the number of named professorships, and increase financial aid to students. Here are more facts about the school, with a focus on its full-time MBA program. Location: NYU Stern is located in the center of Greenwich Village, near Washington Square Park...
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...Jiaci He Finance 445 Assignment 4 Calculate the proportion of cash and marketable investments as a proportion of total assets: ABT: 18.8% (2013) MSFT: 54.08% (2013) KR: 1.4% (2014) GOOG: 51.3% (2013) What do these companies state as a reason for this level of cash+investments? ABT: Net cash from operating activities amounted to $9.3 billion, $9.0 billion and $8.7 billion in 2012, 2011 and 2010, respectively. Trade accounts payable and other liabilities in Net cash from operating activities in 2012 includes the payment of approximately $1.5 billion related to a litigation accrual recorded in 2011. This was partially offset by increases in other liabilities, primarily restructuring reserves. Income taxes payable in 2012 and 2011 includes $408 million and $580 million, respectively, of tax benefits related to the favorable resolution of various tax positions pertaining to prior years. MSFT: Cash, cash equivalents, and short-term investments totaled $77.0 billion as of June 30, 2013, compared with $63.0 billion as of June 30, 2012. Equity and other investments were $10.8 billion as of June 30, 2013, compared with $9.8 billion as of June 30, 2012. Our short-term investments are primarily to facilitate liquidity and for capital preservation. They consist predominantly of highly liquid investment-grade fixed-income securities, diversified among industries and individual issuers. KR: The global economy and financial markets have experienced volatility due...
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...Aftab Automobiles Limited Dividend Policy |Year |Earning per (EPS)share |% Cash |% Stock dividend |Dividend per share (in|Pay out ratio | | |(in taka) |dividend (in Dividend| |taka) | | |2005 |86 |20 |- |20 |23.26% | |2006 |28 |20 |- |20 |71.42% | |2007 |18 |6 |10 |6 |33.33% | |2008 |25 |- |25 |- |- | |2009 |137 |10 |40 |10 |7.3% | Dividend policy: From the chart we can say that Aftab Automobiles pays non constant payout dividend to its shareholder. In 2008, company didn’t pay any cash dividend to its shareholder. Company paid stock dividend in year 2007, 2008 and 2009. Moreover, shareholders of Aftab Automobiles were paid both cash and stock dividend in 2007 and 2009. Payout ratio: The payout ratio indicates that how much the company has paid as dividend from its earning. In 2005, the rate was 23.26% which means the company had...
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...digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. American Economic Association is collaborating with JSTOR to digitize, preserve and extend access to The American Economic Review. http://www.jstor.org This content downloaded from 14.139.224.146 on Mon, 06 Jul 2015 21:29:52 UTC All use subject to JSTOR Terms and Conditions FinancialDependence and Growth By RAGHURAM G. RAJAN AND LUIGI ZINGALES* This paper examines whetherfinancial developmentfacilitates economic growth by scrutinizing one rationale for such a relationship: thatfinancial development reduces the costs of external finance to firms. Specifically, we ask whether in-dustrial sectors that are relatively more in need of externalfinance develop disproportionately faster in countries with more-developedfinancial markets. We find this to be true in a large sample of countries over the 1980's. We show this result is unlikely to be driven by omitted variables, outliers, or reverse causality. (JEL 04, F3, G1) A large literature,dating at least as far back as Joseph A. Schumpeter ( 1911 ), emphasizes the positive influence of the...
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..."great vampire squid" sucking money instead of blood. However, Goldman Sachs denied the charges saying that the customers were appraised of those bets and those bets were used only to hedge against losses. 2 There were also charges of various misdeeds as well as decline in ethical standards. They have been accused of working with dictatorial regimes, intimate relationships with the US federal government, via a "revolving door" of former employees and driving up prices of commodities through futures speculation. 3 In 2000, the founders of Dragon, Jim and Janet Baker, filed a lawsuit against Goldman Sachs, alleging that the firm did not warn Dragon or the Bakers of the accounting problems of the acquirer, which led to the loss of around $580 million, which was paid entirely in the form of the acquirer's stock. 4 In 2010, they were accused of involvement in the European sovereign debt crisis. 5 In 1986, David Brown was charged with the act of passing inside information to Ivan Boesky on a takeover deal 6 In April 2010, Rajat Gupta, the Goldman director was accused in an insider-trading case. It was held that Gupta had "tipped off a hedge-fund billionaire", Raj Rajaratnam of Galleon Group, about the $5 billion Berkshire Hathaway investment in Goldman in September, 2008. He was further convicted in June 2012 for the same charges after he was sentenced for a two year imprisonment. Why Is Goldman Sachs Advocating For CSR and Sustainability? It is generally believed that...
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...MBA Program Course: Financial Analysis and Decision Making MBA730 Instructor: Marlena L. Akhbari Wright State University Finance and Financial Services McGraw-Hill/Irwin =>? McGraw−Hill Primis ISBN: 0−390−42334−3 Text: Case Studies in Finance: Managing for Corporate Value Creation, 4/e Bruner This book was printed on recycled paper. MBA Program http://www.mhhe.com/primis/online/ Copyright ©2003 by The McGraw−Hill Companies, Inc. All rights reserved. Printed in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without prior written permission of the publisher. This McGraw−Hill Primis text may include materials submitted to McGraw−Hill for publication by the instructor of this course. The instructor is solely responsible for the editorial content of such materials. 111 MBAP ISBN: 0−390−42334−3 MBA Program Contents Bruner • Case Studies in Finance: Managing for Corporate Value Creation, 4/e II. Financial Analysis and Forecasting 1 1 6 16 16 39 52 52 60 66 66 84 100 100 6. The Financial Detective, 1996 11. ServerVault: ‘‘Reliable, Secure, and Wicked Fast’’ III. Estimating the Cost of Capital 12. ‘‘Best Practices’’ in Estimating the Cost of Capital: Survey and Synthesis 15. Teletech Corporation, 1996 IV. Capital Budgeting and Resource Allocation 19. Diamond...
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...MBA Program Course: Financial Analysis and Decision Making MBA730 Instructor: Marlena L. Akhbari Wright State University Finance and Financial Services McGraw-Hill/Irwin =>? McGraw−Hill Primis ISBN: 0−390−42334−3 Text: Case Studies in Finance: Managing for Corporate Value Creation, 4/e Bruner This book was printed on recycled paper. MBA Program http://www.mhhe.com/primis/online/ Copyright ©2003 by The McGraw−Hill Companies, Inc. All rights reserved. Printed in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without prior written permission of the publisher. This McGraw−Hill Primis text may include materials submitted to McGraw−Hill for publication by the instructor of this course. The instructor is solely responsible for the editorial content of such materials. 111 MBAP ISBN: 0−390−42334−3 MBA Program Contents Bruner • Case Studies in Finance: Managing for Corporate Value Creation, 4/e II. Financial Analysis and Forecasting 1 1 6 16 16 39 52 52 60 66 66 84 100 100 6. The Financial Detective, 1996 11. ServerVault: ‘‘Reliable, Secure, and Wicked Fast’’ III. Estimating the Cost of Capital 12. ‘‘Best Practices’’ in Estimating the Cost of Capital: Survey and Synthesis 15. Teletech Corporation, 1996 IV. Capital Budgeting and Resource Allocation 19. Diamond...
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...Instructor’s Manual Fundamentals of Financial Management twelfth edition James C. Van Horne John M. Wachowicz JR. ISBN 0 273 68514 7 Pearson Education Limited 2005 Lecturers adopting the main text are permitted to photocopy the book as required. © Pearson Education Limited 2005 Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk Previous editions published under the Prentice-Hall imprint Twelfth edition published under the Financial Times Prentice Hall imprint 2005 © 2001, 1998 by Prentice-Hall, Inc. © Pearson Education Limited 2005 The rights of James C. Van Horne and John M. Wachowicz JR. to be identified as authors of this work have been asserted by them in accordance with the Copyright, Designs and Patent Act 1988. ISBN: 0 273 68514 7 All rights reserved. Permission is hereby given for the material in this publication to be reproduced for OHP transparencies and student handouts, without express permission of the Publishers, for educational purposes only. In all other cases, no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the Publishers or a licence permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, 90 Tottenham Court Road...
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...Instructor’s Manual Fundamentals of Financial Management twelfth edition James C. Van Horne John M. Wachowicz JR. ISBN 0 273 68514 7 Pearson Education Limited 2005 Lecturers adopting the main text are permitted to photocopy the book as required. © Pearson Education Limited 2005 Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk Previous editions published under the Prentice-Hall imprint Twelfth edition published under the Financial Times Prentice Hall imprint 2005 © 2001, 1998 by Prentice-Hall, Inc. © Pearson Education Limited 2005 The rights of James C. Van Horne and John M. Wachowicz JR. to be identified as authors of this work have been asserted by them in accordance with the Copyright, Designs and Patent Act 1988. ISBN: 0 273 68514 7 All rights reserved. Permission is hereby given for the material in this publication to be reproduced for OHP transparencies and student handouts, without express permission of the Publishers, for educational purposes only. In all other cases, no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the Publishers or a licence permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, 90 Tottenham Court Road...
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...Instructor’s Manual Fundamentals of Financial Management twelfth edition James C. Van Horne John M. Wachowicz JR. ISBN 0 273 68514 7 Pearson Education Limited 2005 Lecturers adopting the main text are permitted to photocopy the book as required. © Pearson Education Limited 2005 Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk Previous editions published under the Prentice-Hall imprint Twelfth edition published under the Financial Times Prentice Hall imprint 2005 © 2001, 1998 by Prentice-Hall, Inc. © Pearson Education Limited 2005 The rights of James C. Van Horne and John M. Wachowicz JR. to be identified as authors of this work have been asserted by them in accordance with the Copyright, Designs and Patent Act 1988. ISBN: 0 273 68514 7 All rights reserved. Permission is hereby given for the material in this publication to be reproduced for OHP transparencies and student handouts, without express permission of the Publishers, for educational purposes only. In all other cases, no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the Publishers or a licence permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, 90 Tottenham Court Road...
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...REPUBLIQUE DU BURUNDI MINISTERE DE LA PLANIFICATION DU RECONSTRUCTION DEVELOPPEMENT ET DE LA RECONSTRUCTION NATIONALE Programme d’Appui à la Gouvernance MONOGRAPHIE DE LA COMMUNE GITEGA Mu taho Bu gen dan a Gihe ta Gitega Nyaru sang e Ma k ebu ko Gishub i Itab a Ry ans oro Bu ra za Bu kirasaz i Province Gitega Gitega, Septembre 2006 i TABLE DES MATIERES LISTE DES ABREVIATIONS PREFACE INTRODUCTION PAGES CHAPITRE I. DESCRIPTION PHYSIQUE…..…………….……………….…....… CHAPITRE II. DEMOGRAPHIE………………………….………………………… 2.1. Découpage administratif…..…….……………….……………………………….... 2.2. Données démographiques………………………………………………………….. CHAPITRE III. AGRICULTURE………………………………….…………… 3.1. Généralités…………………………………………………………………………. 3.2. Situation actuelle des principales cultures……………………………………….… 3.3. Facteurs de production………………………………………………………….….. 3.4. Infrastructures……………………………………………………………………… 3.5. Commercialisations……..………………….……………………………………… 3.6. Intervenants…………………………………………………………………………. 3.7. Contraintes………………………………………………………………………….. CHAPITRE IV. ELEVAGE….……………………………………………………….. 4.1. 4.2. 4.3. 4.4. 4.5. 4.6. 4.7. 4.8. Généralités………………….…………………………………………………….... Types d’élevages et effectifs par espèce….………………………………………... Système d’élevage…………………………………………………………………. Santé animale………………………………………………………………….…… Commercialisation…………………………………………………………………. Infrastructures……………………………………………………………………… Intervenants………………………………………………………………………… Contraintes, potentialités et actions...
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...Topic: Nike Inc.: Cost of Capital Course: International Finance Table of Contents 1 Background Information on the Case: 3 1.1 Nike’s Performance: 3 1.2 Nike Analysts Meeting June 28, 2001: 3 2 Kimi Ford’s Evaluation of Nike: 3 3 Joanna Cohen’s Calculation of Nike’s Cost of Capital: 3 3.1 Assumptions & Calculations: 3 4 Our Calculation: 4 4.1 Cost of common equity 4 4.2 Cost of debt 4 4.3 Weights of Debt and Equity 4 4.4 WACC 5 4.5 Equity Value of Share 5 5 Conclusion: 6 Background Information on the Case: Kimi Ford is a portfolio manager for the mutual-fund management firm NorthPoint Group. She is considering buying some shares for a fund she is managing, the NorthPoint Large-Cap Fund which includes shares from Fortune 500 companies. On July 5, 2001 she decided to analyse the performance of Nike Inc. to determine whether to buy Nike shares for her fund. Nike’s Performance: * Share price has significantly decreased from beginning of the year * Revenues had plateaued since 1997 at around $9 billion * Net income fell from almost $800 million in 1997 to $580 million in 2000 * Market share in U.S. athletic shoes fell from 48% in 1997 to 42% in 2000 * Revenue was affected by supply-chain issues and effects of a strong dollar Nike Analysts Meeting June 28, 2001: The objectives of the meeting were as follows: 1) Disclose fiscal year 2001 results 2) Communicate a strategy for revitalizing the company ...
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...International Review of Finance, 11:1, 2011: pp. 1–17 DOI: 10.1111/j.1468-2443.2010.01125.x Two Common Problems in Capital Structure Research: The FinancialDebt-To-Asset Ratio and Issuing Activity Versus Leverage Changes IVO WELCH Brown University, RI and NBER ABSTRACT This paper points out two common problems in capital structure research. First, although it is not clear whether non-financial liabilities should be considered debt, they should never be considered as equity. Yet, the common financial-debt-to-asset ratio (FD/AT) measure of leverage commits this mistake. Thus, research on increases in FD/AT explains, at least in part, decreases in non-financial liabilities. Future research should avoid FD/AT altogether. The paper also quantifies the components of the balance sheet of large publicly traded corporations and discusses the role of cash in measuring leverage ratios. Second, equity-issuing activity should not be viewed as equivalent to capital structure changes. Empirically, the correlation between the two is weak. The capital structure and capital issuing literature are distinct. I. INTRODUCTION Leverage is defined as the sensitivity of the value of equity ownership with respect to changes in the underlying value of the firm. Empirically, leverage ratios are frequently independent variables (sometimes as part of a hypothesis, sometimes as a control). Leverage ratios are also the dependent variable in the empirical capital structure literature. This literature tries...
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