Aspects of Corporate Governance The objective of these two sessions is to give students the opportunity to explore the concept of corporate governance. In particular, we will look at the development of the concept of corporate governance in Singapore with a focus on the regulatory framework for corporate governance in Singapore and the Singapore Code of Corporate Governance 2005 and 2012. We will also examine the various legal and regulatory mechanisms which exist to facilitate good corporate governance
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1. Which of the following statements about dividend policies is CORRECT? 14.4 pages 567 - 568 e. The clientele effect suggests that companies should follow a stable dividend policy. 2. Which of the following statements is CORRECT? 14.2 pages 563 c. Stock repurchases can be used by a firm that wants to increase its debt ratio. 3. Which of the following statements is CORRECT? 14.13 pages 587 e. If a firm’s stock price is quite high relative to most stocks—say $500 per share—then
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Lecture 1 Capital Market and Long Term Finance * Capital Formation (Raise capital to increase their assets and fund working capital) * Markets * Common Stock (long-term security) * Bonds (long-term security) * Derivatives (long-term security) Financial Markets * Exchanges * Specialists (NYSE has SPECIALISTS maintain an orderly market in a stock at a trading station) * Intermediary Firms (NASDAQ has INTERMEDIARY FIRMS maintain a market for a given share * Publicly
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FIN200 Corporate Finance (2nd Term 2012-2013) Solution for Corporate Finance, Ross, Westerfield, and Jaffe, 9th edition CHAPTER 20 ISSUING SECURITIES TO THE PUBLIC Answers to Concepts Review and Critical Thinking Questions 1. A company’s internally generated cash flow provides a source of equity financing. For a profitable company, outside equity may never be needed. Debt issues are larger because large companies have the greatest access to public debt markets (small companies tend to borrow
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Small Business Idea Paper Introduction: Recently, the government released funds for persons willing for establishing a small business. This releasing funds’ concept will form many jobs, and the economy will be stimulated by it. For the owner of a small business, the first step is to determining which business form is best suited to his or her ideas. Furthermore, it is essential for the owner of business to evaluate implications of legalities and tax related to his or
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2. Explain several dimensions of the shareholder-principal conflict with manager-agents known as the principal-agent problem. To mitigate agency problems between senior executives and shareholders, should the compensation committee of the board devote more to executive salary and bonus (cash compensation) or more to long-term incentives? Why? What role does each type of pay play in motivating managers? There are several dimensions to the principal-agent conflict. Principal-Agent Relationships
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or misappropriation. 2. Who are the perpetrators? The perpetrator from the most frequently named to the least in an AAER: CEO, CFO, CEO and CFO, controller, COO, other Vice Presidents, and other titles. 3. What is happening with corporate governance? There are not significant differences of board governance characteristics between fraud and non-fraud firms. COSO gathered a sample of 203 no-fraud companies that is similar to 203 fraud companies to make a comparison. Because lack
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1. Consider Dunlap’s statement on page 3 of the case: “Stakeholders! Every time I hear the word, I ask how much did they pay for their stake? There is only one constituency I am concerned about and that is the shareholder primacy? Do you agree or disagree with Dunlap’s view of shareholder primacy? Explain Generally most reasonable people in a market driven economy would agree that companies are in business to generate economic profitability. Also many people would agree that companies and organizations
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the day-to-day operations of the division, and EVPs report to the chief executive officer (CEO) who makes decisions based on the following information: a. Strategic direction and resource allocations of SPI b. Consultation with the other corporate officers c. Review of the monthly operating package (MOP) 4. The CEO is the highest level of management that makes decisions about SPI’s overall resource allocation to different areas of the business based on gross margin by product.
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Concord Bookshop Creating Change Within Organizations HCS 587 March 30, 2013 Professor David Harrell Concord Bookshop The Concord Bookshop was a 64 year old small establishment that had been well established in New England. The establishment had been having financial difficulties due to larger competitors and Internet purchases. The board decided to hire a new general manager to change the direction of the company to avoid ruin. There are three stages of an organizational change process
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