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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Dealing with Parkinson Diseas SOC313: Social Implications of Medical Issues Mary Dreibelbis April 8. 2013 Dealing with Parkinson’s disease There are approximately 1‚000‚000 people today‚ living with Parkinson’s. Dealing with Parkinson’s disease can be very life changing for individuals living with the disease and to their family members. Parkinson’s disease affects the central nervous system that leads to progressive deterioration of a person motor function. There is no known cause
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B06-03-0006 A Global Manager’s Guide to Currency Risk Management Introduction Since the advent of the floating exchange rates‚ any time that a transaction—whether that transaction is in goods‚ services‚ people‚ capital‚ or technology—has crossed borders‚ it has been subject to the influence of changes in exchange rates. The basic problem posed by exchange rates on the cross-border firm is that money across borders has no fixed value. Consequently‚ neither does a transaction undertaken across
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services such as eye check-ups and insurance Which sector is Tesco? Tesco is a Tertiary sector business as it provides to the customers and not makes the products. It is a private business this means it is a business owned privately. Tesco is a global business with branches even in China and India. It’s a large business. Business ownership- Partnership‚ Tesco is a partnership because it is a really big business with millions of branches all over the world. Tesco has thousands of partners‚ this
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American Economic Association The Theory of the Firm as Governance Structure: From Choice to Contract Author(s): Oliver E. Williamson Source: The Journal of Economic Perspectives‚ Vol. 16‚ No. 3 (Summer‚ 2002)‚ pp. 171-195 Published by: American Economic Association Stable URL: http://www.jstor.org/stable/3216956 Accessed: 21-04-2015 06:39 UTC Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at http://www.jstor.org/page/info/about/policies/terms
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brands published in their Corporate Social Responsibility (CSR) their goals about sustainable solutions. Here they mentioned some of their main achievements: Climate and Energy‚ Sustainable Sourcing‚ and Packaging. This CSR deals with how Dunkin Donuts is seeking to minimize costs. Climate and Energy: Dunkin’ Donuts was able to determine where their restaurants and franchisees could reduce energy consumption‚ while also cutting back on utility costs. In 2012‚ they introduced an energy efficient
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introduction in December 2005‚ NBC has had tremendous success with the game show Deal or No Deal. The game show‚ which was created in the Netherlands‚ pits acontestant against the mysterious banker. The contestant is trying for the case with $1 million‚while the banker ’s stated goal is to get the contestant to go home with as little money as possible while also trying to keep the game going for as long as possible. Deal or No Deal is a unique game show in that it takes virtually no skill on the part of
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regulation. Because the relative greed of businesses in terms of profit margins and little interest in the increase of wages and positive working environments played a role in causing the Great Depression‚ President Franklin Roosevelt implemented a set of policies known as the New Deal. The New Deal attempted to provide recovery and relief from the Great Depression through programs of business regulation. The New Deal posed as a major threat to big businesses and corporations because it symbolized an
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CONTRACT LAW- EXAM NOTES What is a contract? An oral or written agreement between two or more parties which is enforceable by law. This agreement ‘will be legally binding if certain criteria are met – briefly‚ they require that there be an agreement (comprising an offer and acceptance)‚ consideration‚ intention to create legal relations‚ compliance with any formalities required by law and that the parties have the legal capacity to contract’1 What is the purpose of contract law
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How do businesses grow? The objectives‚ which a company wants to achieve‚ can be varied. They can range from sales revenue maximization‚ increasing market share to growth. Growth is one of the most common and sought after corporate objectives because of its relative advantages. This is so because many perks come with the expansion of a business‚ which appease almost everyone. When a company grows it achieves economies of scale‚ it increases its market shares and thus wipes out competition
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