Livedoor made a large part of its income through unsustainable business: some from newly acquired subsidiaries and others from non-core finance business. This revenue was expected to be highly volatile. Hence, Livedoor needed to put varnish on its financial statement to keep its appearance attractive. Livedoor should have fostered a core business that could have made sound profits in the long run instead of going for short-term gains. The unprecedented scale of M&A activities was made possible
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companies are under economic pressure. In an effort to grow and survive, many businesses goes through the process of reorganizations such as takeovers, downsizings, and joint ventures. These changes present new challenges and requires cooperation from the management and employees. Every person affected must learn to work together or suffer the consequences. The purpose of this paper is to describe the faces of organizational change process and identifiy the organizational change process that Concord
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NELLCO NELLCO Legal Scholarship Repository Harvard Law School John M. Olin Center for Law, Economics and Business Discussion Paper Series Harvard Law School 8-3-2004 The Institutions of Corporate Governance Mark J. Roe Harvard Law School Recommended Citation Roe, Mark J., "The Institutions of Corporate Governance" (2004). Harvard Law School John M. Olin Center for Law, Economics and Business Discussion Paper Series. Paper 488. http://lsr.nellco.org/harvard_olin/488 This
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LV, NO. 6 • DEC. 2000 Hostility in Takeovers: In the Eyes of the Beholder? G. WILLIAM SCHWERT* ABSTRACT This paper examines whether hostile takeovers can be distinguished from friendly takeovers, empirically, based on accounting and stock performance data. Much has been made of this distinction in both the popular and the academic literature, where gains from hostile takeovers result from replacing incumbent managers and gains from friendly takeovers result from strategic synergies. Alternatively
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Delta celebrated 80 years of passenger service and became the only airline to offer nonstop flights between Los Angeles and Sydney, Australia. Since 2001, Delta has had many financial difficulties. The negative effects of the September 11th terrorist attacks and recent recession are among the most notable. Despite their financial woes, which ultimately resulted in bankruptcy in 2007, Delta has continued to stay innovative by introducing new technologies, internal restructuring, and expanded service
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Market Solutions to the Agency Problem in Periodic Financial Reporting Edgar Carlos Duarte Aguilar “The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be as dangerous as in the hands of a man who had folly and presumption enough to fancy
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WHARTON on... Global Finance ............... http://executiveeducation.wharton.upenn.edu http://knowledge.wharton.upenn.edu Global Finance: Looking Back, and Ahead The world is undergoing the worst financial crisis in decades. Although the global credit crunch was sparked by the bursting U.S. housing bubble, one of the most important causes was more basic: For too long, spending in the United States has outpaced incomes. This fundamental mismatch was supported temporarily by an extremely
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1. Communication technologies are far from equivalent. A recent study comparing honesty across a range of different media revealed that people were twice likely to tell lies when using the phone than when communicating via e-mail. It had previously been assumed that people would be more inclined to fabricate the truth when using e-mail, due to the remoteness of the interaction making people more comfortable about deceiving others. On the contrary, it seems that anxiety over the accountability afforded
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CHAPTER 2 FINANCIAL STATEMENTS, TAXES, AND CASH FLOWS Learning Objectives LO1 The difference between accounting value (or “book” value) and market value. LO2 The difference between accounting income and cash flow. LO3 How to determine a firm’s cash flow from its financial statements. LO4 The difference between average and marginal tax rates. LO5 The basics of Capital Cost Allowance (CCA) and Undepreciated Capital Cost (UCC). Answers to Concepts Review and Critical Thinking Questions
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Report Outline Government regulation over business mergers and acquisitions Introduction 1. Should the government regulate mergers and acquisitions more carefully? 2. Purpose of the Study 3. Scope of Study 4. Method and Procedures Analysis 1. Positive opinions 2. Negative opinions 3. Government action Summary, Conclusion, and Recommendation 1. Summary 2. Conclusion 3. Recommendation Government regulation over business mergers and acquisitions Prepared
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