Finance 11 (2005) 645 – 660 www.elsevier.com/locate/econbase Ownership structure‚ managerial behavior and corporate value J.R. Daviesa‚ David Hillierb‚T‚ Patrick McColganc a University of Strathclyde‚ UK b University of Leeds‚ UK c University of Aberdeen‚ UK Received 21 November 2002; accepted 6 July 2004 Available online 20 April 2005 Abstract The nonlinear relationship between corporate value and managerial ownership is well documented. This has been attributed to the onset of managerial
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two are called substantive laws which coincide with society’s moral values. 1. Rules that forbid certain types of behavior under threat of state punishments‚ this is a rule (crime) but the majority of society would recognise that‚ for example‚ stealing off another human being is wrong‚ and therefore corresponds with society’s morals. 2. Rules that require compensation to be paid by those who may cause damage or loss to others by infringing their legal rights (civil wrongs) but again‚ likewise
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Reflection Upon My Values and The Army Values Marcus ‘Doc’ Cronin Major Ammon Campbell - Utah State University ROTC The legendary American Military Hero‚ General George S. Patton once said‚ “Moral courage is the most valuable and usually most absent characteristic in men.” I also believe that moral courage is one of the most valuable characteristics a man can have‚ in that to truly be a man of character‚ you must first have moral courage in order to live and defend your values. Without
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There are various rules other than legal rules that we come across in our daily lives. They include‚ private rules‚ rules of natural justice‚ rules of morality and rules of law and it is those two last rules that we will be discussing the relationship between. However‚ first we need to define the meaning of ’The Law’ and ’Morality’ and show how they overlap in our society. The law can be described as rules that have been established by the state or country that we as a society need to uphold
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needs to ask (a) Does the law depend on moral values? (b) Should the law depend on moral values? before establishing any degree of societal acknowledgement. Since time immemorial‚ there has always been an argument concerning the ways in which the law is affected by morality and consequently there is obviously a continuous societal debate establishing the development of this so-called relationship. This begs questions such as; ‘What are moral values? What is meant by the law ? How are these laws
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Assignment 1. Views and Values: Try and link views and values to the themes in the text where you can! Identifying views and values 1. Identify three core views that you believe are expressed throughout ‘Twelve Angry Men’ 2. Write three sentences about these views using the sample below as a model Eg: Rose’s play challenges the audience to examine their own prejudice‚ exposing the dangers of prejudging‚ particularly in the court room. 3. What does Rose value / condemn? Identify three
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In time‚ African-American quilting became a tradition in itself. This strong tradition continues today. In Alice Walker’s short story “Everyday Use”‚ although Maggie and Dee/Wangero differ in point of view regarding the heritage of the quilts and how to honor them; the quilts symbolized something significant
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Finance and Investment Analysis‚ vol.1‚ no.2‚ 2012‚ 61-81 ISSN: 2241-0988 (print version)‚ 2241-0996 (online) International Scientific Press‚ 2012 Topic: capital structure determinants of quoted firms in Nigeria and lessons for corporate financing decisions Michael Nwidobie Barine1 Abstract Financial arrangements determine how and the amount of financing that can be obtained from fund providers. An optimal allocation between equity and debt is determined by the trade-off between the net
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2 Determinants of capital structure In finance‚ capital structure refers to the way a corporation finances its assets through some combination of equity‚ debt‚ or hybrid securities. A firm ’s capital structure is then the composition or ’structure ’ of its liabilities. Simply‚ capital structure refers to the mix of debt and equity used by a firm in financing its assets. The capital structure decision is one of the most important decisions made by financial management. The capital structure decision
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Primary and Support Activities of Value Chain. Introduction Raytheon Company has created new software that improves the logistics system of the company by providing constant tracking data of all products in the inventory‚ which has saved the company nearly $9M. MTrak is a web-based system that includes the Microsoft .Net technology‚ which is used to capture bar-code scans and combines it with information from the mainframe computer to provide tracking of all inventories anywhere within the
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