...Restaurant Administration Quarterly http://cqx.sagepub.com Measuring Customer-Based Restaurant Brand Equity Woo Gon Kim and Hong-Bumm Kim Cornell Hotel and Restaurant Administration Quarterly 2004; 45; 115 DOI: 10.1177/0010880404264507 The online version of this article can be found at: http://cqx.sagepub.com/cgi/content/abstract/45/2/115 Published by: http://www.sagepublications.com On behalf of: The Center for Hospitality Research of Cornell University Additional services and information for Cornell Hotel and Restaurant Administration Quarterly can be found at: Email Alerts: http://cqx.sagepub.com/cgi/alerts Subscriptions: http://cqx.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav Downloaded from http://cqx.sagepub.com at SAGE Publications on December 2, 2009 © 2004 CORNELL UNIVERSITY DOI: 10.1177/0010880404264507 Volume 45, Issue 2 115-131 ARTICLE 10.1177/0010880404264507 Measuring Customerbased Restaurant Brand Equity Investigating the Relationship between Brand Equity and Firms’ Performance by WOO GON KIM and HONG-BUMM KIM Strong brand equity is significantly correlated with revenues for quick-service restaurants. In a study 394 respondents gauged the strength of seven quickservice restaurant brands doing business in Seoul, Korea. The study tested four elements of brand equity, namely, brand awareness, brand image, brand loyalty, and perceived quality. Of those attributes, brand...
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...EdgeStone Capital Equity Fund – Early Phase Analysis The timing for creating a $180 million private equity fund is very opportunistic. With the strong Canadian economy positioned for continued growth, a federal budget surplus, and a low Canadian dollar, there will be numerous Canadian companies looking to PE firms for financing. This economic outlook coupled with $180 million of initial capital, EdgeStone will be able to be extremely selective in terms of potential targets, further increasing potential returns while limiting risk. Structure of Fund Type and Size of Investments It is imperative to identify the proper size and type of investments that EdgeStone will be engaging in. In terms of size, exhibit 1 identifies the average Canadian deal size was $1.8 million in 1996. However, as a first time fund with a substantial capital base, it is my recommendation that the average deal size for the first years of operating be around 3% of AUM. This will allow the fund to focus on generating strong returns on a smaller number of investments rather than being spread too thin. In regards to the type of investment, it is my recommendation that EdgeStone become a passive investor, and focus on sourcing deals with companies that are growing rather than struggling. Industry Focus With an underdeveloped supply of capital in Canada, limiting the fund to a specific industry focus could harm potential returns. Geographic Focus With less than 25 PE firms that could qualify...
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...Climate Technologies The Climate Technologies segment supplies compressors, temperature sensors and controls, thermostats, flow controls and remote monitoring technology and services to all areas of the climate control industry, including residential heating and cooling, commercial air conditioning, commercial and industrial refrigeration and marine controls. 2015 vs. 2014 - Sales for Climate Technologies were $4.0 billion in 2015, a decrease of $98 million, or over 2 percent due to unfavorable foreign currency translation ($112 million). Underlying sales were up slightly ($14 million) as an increase in the global refrigeration business was essentially offset by a decrease in air conditioning. The temperature controls and sensors businesses were flat. Air conditioning sales in the U.S., Europe and China decreased while the rest of the world had strong growth. Global refrigeration was up modestly with growth in the U.S. and Asia and weakness in Europe. Overall, underlying sales were flat in the U.S., down 2 percent in Asia (China down 12 percent) and decreased 1 percent in Europe. Latin America was down 4 percent, Middle East/Africa was up 26 percent and Canada increased 13 percent. Earnings of $698 million decreased $39 million and margin declined 0.5 percentage points primarily due to unfavorable mix. Growth investments, and higher rationalization and unfavorable foreign currency transactions of $6 million each, were more than offset by cost reduction savings. Global demand...
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...Unit 2 Term Paper Gary M. Kidd Kaplan University Author Note Pro. Young-White, I’m sorry the term paper is a day late, but I spent most of 3 September at a scheduled medical procedure to refill the pain pump implanted in my spine with Dilaudid. It kept me knocked-out most of the day. Please remember that I’m given extra time on assignments via the Kaplan University office of student disabilities. Abstract This term paper for unit two review three articles, Ethics Consultation in United States Hospitals This term paper also defines 8 financial terms. Keywords: Balance sheet, Shareholder Equity, EBITDA, EBITDAM, Financial Ethics, Financial Benchmarking, Financial Trend Analysis, and Ratio Analysis. Unit 2 Term Paper Business ethics is the appropriate business guidelines and customs regarding debatable issues, like the way a CEO runs his company, illegal stock trading, corruption, business social and monetary obligations. The government’s authorities frequently enforce business ethics, still there are times when businesses alone will use a straightforward structure that organizations can abide by so that they simply may benefit the public interest (investopedia.com, 2013). Article Review The first article chosen for this assignment, is Betsy Gallup’s article Ethics Are an Important Part of Running a Health-Care Facility, and she explains ethics as having three components: independence, integrity and objectivity (2009)...
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...readings ACC 400 Week 2 LTA Assignments from Readings ACC 400 Week 3 DQ 1 ACC 400 Week 3 DQ 2 Horizontal Analysis ACC 400 Week 3 Individual Assignments from Readings ACC 400 Week 3 Learning Team Assignment E11-1 ACC 400 Week 4 DQ 1 ACC 400 Week 4 DQ 2 ACC 400 Week 4 DQ 3 ACC 400 Week 4 LTA Interpreting Financial Statements Report ACC 400 Week 4 Power Point Presentation ACC 400 Week 5 Assignments BYP13-7 23.10 and 23.12 ACC 400 Week 5 DQ 1 ACC 400 Week 5 DQ 2 ACC 400 Week 5 Final Exam ACC 400 Week 5 Individual Assignment Debt versus Equity Financing Paper ACC 400 ENTIRE COURSE ACC 400 Week 1 DQ 1 ACC 400 Week 1 DQ 2 ACC 400 Week 1 DQ 3 ACC 400 Week 1 Individual Current and Noncurrent Asset Paper ACC 400 Week 2 DQ 1 ACC 400 Week 2 DQ 2 ACC 400 Week 2 DQ 3 ACC 400 Week 2 Individual Questions from the readings ACC 400 Week 2 LTA Assignments from Readings ACC 400 Week 3 DQ 1 ACC 400 Week 3 DQ 2 Horizontal Analysis ACC 400 Week 3 Individual Assignments from Readings ACC 400 Week 3 Learning Team Assignment E11-1 ACC 400 Week 4 DQ 1 ACC 400 Week 4 DQ 2 ACC 400 Week 4 DQ 3 ACC 400 Week 4 LTA Interpreting Financial Statements Report ACC 400 Week 4 Power Point Presentation ACC 400 Week 5 Assignments BYP13-7 23.10 and 23.12 ACC 400 Week 5 DQ 1 ACC 400 Week 5 DQ 2 ACC 400 Week 5 Final Exam ACC 400 Week 5 Individual Assignment Debt versus Equity Financing...
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...Goes a Long Way: Notes on Petrella v. Metro,Goldwyn,Mayer, Inc. Samuel L. Bray* I. II. III. VI. V. INTRODUCTION ...................................................................... 1! LACHES IS AND SHOULD BE AN EQUITABLE DEFENSE ............ 2! LACHES IN AN AGE OF STATUTES OF LIMITATION ................... 8! A MIDDLE COURSE IN PETRELLA ......................................... 17! CONCLUSION ....................................................................... 18! I. INTRODUCTION The famous Martin Scorsese movie Raging Bull and an ancient doctrine of equity will make a joint appearance later this month at the U.S. Supreme Court. On January 21, 2014, the Court will hear arguments in Petrella v. Metro:Goldwyn:Mayer, Inc.1 The case involves copyright infringement claims about the movie, and about the extent to which those claims are barred by the doctrine of laches. Laches is a defense that was developed by courts of equity, and it is typically raised in cases where a plaintiff has delayed her suit without good reason. Petrella raises two big questions about how laches fits into contemporary American law. One is whether it applies to all claims or only to equitable ones.2 The other is how it is affected by a federal statute of limitations. Is laches displaced, on the theory that Congress has spoken by enacting the statute of limitations, so that it would violate the separation of powers for a court to substitute its own equitable doctrines? Or does laches remain and coexist with...
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...Mrs. Grant meanwhile made substantial contributions to the housekeeping enabling Mr. Edwards to meet the mortgage installments. The court of appeal held that Mrs. Grant was entitled to half of the beneficial interest under a constructive trust as there was evidence of common intention that she was to have a share in the property. The difference between Edwards and that of Eves and Gissing is that Mrs. Grant’s contribution appears to have been more substantial. Furthermore, the fact that in both Eves and Edwards the defendant refused to have the property conveyed in both their names suggesting that this would be problematic shows that there was an “intention” that both parties would have an interest. After all, the courts would not allow equity to be used as an engine for fraud. Implied trusts arise where there is no express intention or understanding, but the court has to infer from the conduct of the parties to avoid unjust enrichment. This becomes complicated as most couples who are ready to cohabitate are not thinking about separation or its consequences. Case law will help to explain this. In Oxley v Hiscock (2004) Mrs. Oxley and Mr. Hiscock bought a new house together. Mrs. Oxley claimed 50% of the proceeds. It was held that Mrs. Oxley was entitled to a 40% share on the facts, not equal in light of the difference between their initial cash contributions. Chadwick LJ (at 69) noted: “It must now be accepted that … each is entitled to that share which the court considers...
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...Evidence from Canadian and U.S. Firms Kelly E. Carter SYNOPSIS: I examine Sarbanes-Oxley’s (SOX) effect on capital structure. I find that SOX is associated with higher long-term debt ratios, as firms listed in the U.S. raise their long-term debt ratios by 2 to 3 percentage points. This finding is consistent with the idea that, although the reduction in information asymmetry associated with SOX could prompt managers to increase equity financing, debt is still safer and less costly than equity in the SOX era. Further analysis shows that the increase in debt occurs in the two quarters prior to SOX, suggesting that firms anticipate a higher cost of debt after SOX and acquire debt while it is relatively cheap. Also, firms that heavily (lightly) manage earnings prior to SOX use less (more) debt after SOX. This result is consistent with the view that firms that aggressively manage earnings before SOX reveal intrinsically weaker earnings after SOX, casting doubt on those firms’ ability to repay debt and relegating those firms to issue equity for financing purposes. Keywords: capital structure; earnings management; debt ratio; Sarbanes-Oxley. JEL Classifications: G32; G38. Data Availability: Data available upon request. Kelly E. Carter is an Assistant Professor at Morgan State University. I particularly thank Terry Shevlin (co-editor) and an anonymous referee for their detailed, excellent comments, which greatly improved this paper. I also thank Alexander Butler, Laura...
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...Contract Formation Author: Jason Dorman Business Law Professor Riggs 11-24-2013 A contract must have certain elements to be considered a contract. However, there are also elements that exist that will negate a contract as well. Fraud, undue influence and duress are all elements that will negate a contract. When a contract is breached or negated one party can collect damages or seek equitable remedies. The common law doctrine of election of remedies prevents individuals from taking advantage of the system. These elements are what an individual would not want to deal in any business situation. There are also elements in place to prevent a party from double recovery and this is called the common law doctrine of election of remedies. What we can learn from contracts is that neither side will deceive the other. What is fraud and how does it affect a contract? Fraud is an intentional act by one party to deceive another. “Fraud prevents a mutual agreement to a contract because one party intentionally deceives another as to the nature and the consequences of a contract.” [legal-dictionary.thefreedictionary.com] When each party involved in the contract states their terms. The terms must be factual and any misrepresentation of the truth can void the contract. However, there are situations where an individual’s intentions are to get over on the other party. This is why it is important to read the contract before signing it. What is undue influence? “Undue...
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...QUESTION “There must be somebody in whose favour the court can decree performance” Discuss the principle enunciated in the above statement and the exceptions thereof with the aid of appropriate case law “There must be somebody in whose favour the court can decree performance” INTRODUCTION In order for a trust to be valid, there needs to be an identifiable beneficiary who can either be an individual or a company . If for instance there is no beneficiary, and consequently the trust is for the achievement of some abstract purpose then the trust is to be considered as void. In the words of Lord Grant MR in the case of Morice v. Bishop of Durham : “There can be no trust, over the exercise of which this court will not assume control... if there can be clear, but for uncertain objects, the property… is indisposed of… Every… [Non-charitable] trust must have a definite object. There must be somebody in whose favour the court can decree performance. The rationale of the principle is to ensure the courts ability to administer the trust. Moreover in the case of Re Endacott it was said, in relation to the beneficiary principle, that ‘no principle has greater sanction and authority’ in the law of trust other that requiring the existence of a beneficiary. It is essential for validity. For instance in the case of Re Astor , a trust for the establishment , maintenance and improvement of good understanding, sympathy, and co-operation between nations was...
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...Mitigation of Damages: In most situations, when a breach of contract occurs, the non-breaching party has a duty to take whatever action is reasonable to minimize the damages caused by the breach. For example, in most instances, people who are fired by their employer, regardless of the reason, have a duty to find a new job. Likewise, a thwarted house buyer has a duty to take reasonable steps to locate another house. Liquidated Damages: Many contracts contain provisions specifying a sum certain of money to be paid by the breaching party in the event that he fails to perform as required by the contract. Generally speaking, the liquidated damages are based on a reasonable estimate of the value of the promised performance. Penalties: By contrast, a penalty provision specifies a sum certain of money, bearing no reasonable relationship to the value of performance, to be paid by the breaching party in the event of default or breach. Penalty provisions are rarely enforceable. EQUITABLE REMEDIES In addition to the various types of money damages, there are several equitable (i.e., non-damage) remedies available. Rescission: Canceling a contract and returning the parties to their pre-contract position. Restitution: Returning goods, property, or money previously transferred in order to restore the non-breaching party to his pre-contract position. Specific Performance: Requiring the breaching party to perform exactly as called for in the contract...
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...Restitution an old concept Restitution v Compensation (most cases) i.e.: remedy of compensation Unjust enrichment has 4 main elements (confirmed in Banque Financiere) **** sets out the structure. i) defendant’s enrichment (money is very clearly a benefit to you) (can spend it, can use it) ii) at the claimant’s expense? (did the money come from the bank?) transfer of value from the C or substraction from C … didn’t lose money, but lost time and expertise i.e.: repairing a table iii) was the enrichment unjust? (unjust factors: i.e.: could be a mistake, failure of consideration benefit has passed, but had failed to provide consideration., exploitation) iv) Are there any valid defences? We don’t want the defendant to suffer as well. The claimant doesn’t necessarily gain back everything. (CHANGE OF POSITION THE DEFENDANT RELIED ON THE ENRICHMENT). Reliance, detrimental reliance, links with estoppel. i.e.: textbook, nightout, books. Instead of buying new textbooks, could have bought 2nd hand. Instead of spending the nightout, could have paid individually. The court only look at the gain you still HAVE. They might take away your books, laptop (require to sell off the laptop) depends on REASONABLENESS /SENSIBILITY. So, i.e.: if you spend on HOLIDAY, on other things, i.e.: spend on nightout dinner, the court cant take back anything! Chase Manhanttan. made 2 payments, only should made 1. After being made, the bank went bankrupt, found a constructive trust...
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...to replace the earlier notion that he should draft a contract, and one month passed. BTT then sent Chou a fax requesting that he send a draft for a distribution agreement contract. Despite the fact that Chou did so immediately after receiving the BTT fax, several more months passed without response from BTT. BTT had a change in management and informed Chou they were not interested in distributing Strat. READ ENTIRE DOCUMENT BELOW (2.1) FOR SUPPORTING EVIDENCE: 2.1 The law provides certain relief for aggrieved parties that suffer losses as a result of another party’s breach of contract. These relief mechanisms are collectively referred to as remedies. Recall the distinction discussed in Chapter 1 between remedies at law and remedies in equity. For many contracts, the remedy at law...
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...According to Cheeseman (2013), an occurrence of fraud happens when a person knowingly decides to have someone rely or behave in false representation. In certain situations, legally binding agreements, such as contracts, may become invalidated for multiple reasons. For instance, lack of capacity (Unenforceable Contracts, n.d.) may nullify a contract if at least one party is underage, or doesn’t quite have the mental capacity needed to thoroughly understand what the agreement consisted of. This would not allow a dishonest person to take advantage of a person who is mentally unable to make a rational decision. Invalidation of a contract also includes duress. This occurs when someone is coerced or threatened into an agreement (Unenforceable Contracts, n.d.). My brother is a truck driver so I will use him as an example. Let’s pretend he agreed to haul a load of materials for the upcoming project of a private company. My brother contacted the company and told them he would not complete the delivery unless they paid him more money. The company would probably feel like they are being forced to pay the inflated price because they wouldn’t be able to complete their project without these materials; therefore losing revenue. This type of action could also be described as blackmail. An example of undue influence would be if a manager and subordinate were in a romantic relationship and the manager used that relationship to hang over the other’s head in order to take advantage of the situation...
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...The personal liability of third parties for having received or dealt with trust rights or their traceable substitutes which they received in breach of trust is known as recipient liability. Knowing receipt arises where the recipient has some degree of knowledge that the property was received in breach of the trust or following receipt acquired some degree of knowledge that the rights were trust rights and dealth with them as his/her own instead of returning them to the trust. In Re Montagu’s Settlement Trusts (1987) Megarry J held that in order to found a claim for knowing receipt, the defendant had to have actual knowledge that his receipt was in breach of trust or was ‘willfully blind’ shutting his eyes to the obvious; or willfully and recklessly failed to make the inquiries that an honest or reasonable persons would make. However, a person was not liable for knowledge he might have once had, but had honestly and genuinely forgotten when the breach had occurred. Following this was the judgment in BCCI v Ackindele (2000). In this case Nourse J opined that just as Royal Brunei had cleared away the tangled case law of the past to establish from the first, principles the basis on which a person could be liable for assisting a breach of trust, the court could do the same for the law on recipient liability. He held that a defendant would be personally liable only if it would be ‘unconscionable’ for him to retain the benefit of that receipt of trust property. The court recognized...
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