THE JOURNAL OF FINANCE • VOL. LXIV‚ NO. 4 • AUGUST 2009 Agency Problems at Dual-Class Companies RONALD W. MASULIS‚ CONG WANG‚ and FEI XIE∗ ABSTRACT Using a sample of U.S. dual-class companies‚ we examine how divergence between insider voting and cash f low rights affects managerial extraction of private benefits of control. We find that as this divergence widens‚ corporate cash holdings are worth less to outside shareholders‚ CEOs receive higher compensation‚ managers make shareholder value-destroying
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wooden podium in the center of the crowd. They are lining up to come to a conclusion about a new topic‚ although there is a large amount of people‚ a democracy is an efficient way to vote on issues. In a democracy‚ it’s the people or the crowd who decides. This means
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To what extent can I determine my own destiny?’ Discuss in the light of theories‚ ideas and research encountered in the course. Do I act as I do through choice or are my actions influenced by factors beyond our control? This uncertainty has concerned psychologists for decades‚ consequently giving rise to the ’Autonomy versus Determinism’ debate. By definition‚ autonomy is the belief that we are free to make decisions and thus control all of our actions‚ however determinism contradicts this
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Module Title: Finance Principles Module Code: 5AC002 Module Leader: William Coffie Student Name and Number: Qianhui MA(1223583) Date of Submission: 14th Jan 2013 Words: 1441 Agency Theory and Corporate Governance Introduction In 26th February 1995‚ the Barings Bank‚ one of the oldest banks of the United Kingdom was declared bankrupt. Nick Leeson‚ the trader of the bank in Singapore had lost $1.4 billion on derivatives trading while the bank reported capital was only about
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living in an actual time and place similar to George Orwell’s "1984." There was a chillingly similar place for "non-whites" in South Africa from the 1940’s to the 1990’s. I believe that enforcing Apartheid is unjust and immoral. Reading this paper you will learn: What is apartheid? Who were involved? And how did apartheid end in South Africa? What is apartheid? The system of apartheid--"apartness" between races--began in 1948 and in the time span of one generation‚ it wove itself into every aspect
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Introduction What percentage of the audience actually trust what they see on television? How many times have you felt that a particular topic is being inclined to a certain political belief? Have you ever come across a situation where you felt that what you were seeing was sort of fabricated to the advantage of the interests of that media? Have you ever felt that you seem to be viewing more hours of advertising than actual media content? These are questions that lingers in the minds of media analysists
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Management and control Issue to be highlighted | Relevant references | Recommendations | DIRECTOR’S DUTIES * Directors‚ Encik Zayed and Puan Hashimah do not understand about the Companies Act 1965 and his responsibilities | * Section 132 of Companies Act 1965 : director of a company shall at all times exercise his powers for a proper purpose and act bona fide (in good faith in the best interest of the company) * Shall exercise reasonable care‚ skill and diligence with the knowledge and
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Name: Jay Melson Petero Year & Sec.: BSIT-4B “Why do I exist”….”What is the purpose of my life?”….”Why does God created me?” There are probably millions of people ask these question every day. In fact‚ all of us tend to forget the answer of these question because of different problems we are facing today. We exist because we have different purpose in our life and it’s important to know the purpose why God created us. Life is very meaningful whether we want it to be or not. Even though
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Gun Control If you think that people should have a license to buy a gun‚ well it think so to because to many people are dying every day. If we don’t do anything about it‚ it will get worse. Here are some reasons why. Did you know that 16‚808‚538 guns were sold in 2012. Did you know that 2 million of them are hand guns. That is a lot of guns. Half people dying are between the ages 18-35. There are 30 people dying every day in the U.S. because of guns. People could put an end to this if you had to
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Do Myth Exist Anymore Do myth exist today? After reading the first three chapters of The Power of Myth and remembering a class that I took several years ago‚ I think they still exist or should I say that we are all part of some future mythology. It will require a careful eye or a creative ear to point them out because of the direction our society has went with the machine. My understanding is that a myth is a type of speech. Speech of this kind has a message to share but by no means is
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