PROOF Contents List of figures Preface xiii x Part I Structures for Family and Business: Family Business Governance 1 Chapter 1 Maximizing Success through Professional Family Business Governance 3 Alexander Koeberle-Schmid Interview: Dr. Jürgen Heraeus, chairman, Heraeus Holding, Germany 3 Family enterprises are special 7 Sound family business governance 9 Best-practice recommendations 16 Important definitions 17 Chapter 2 Challenges to the Governance of the Family Enterprise 20 Ernesto
Words: 6145 - Pages: 25
International Business & Economics Research Journal Volume 2, Number 9 The Changing Structure Of The Global Wine Industry Michael A. Roberto (E-mail: mroberto@hbs.edu), Harvard Business School Abstract This paper examines the distinctive economic structures that exist in the wine industry in various regions of the world, and it identifies the critical forces driving changes in the structure of this industry. The paper accomplishes these objectives by applying concepts from industrial organization
Words: 7130 - Pages: 29
524–548 Competition for scarce resources P´ ter Es˝ ∗ e o and Lucy White∗∗∗ Volker Nocke∗∗ We model a downstream industry where firms compete to buy capacity in an upstream market which allocates capacity efficiently. Although downstream firms have symmetric production technologies, we show that industry structure is symmetric only if capacity is sufficiently scarce. Otherwise it is asymmetric, with one large, “fat,” capacity-hoarding firm and a fringe of smaller, “lean,” capacity-constrained
Words: 17328 - Pages: 70
Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure Michael C. Jensen Harvard Business School MJensen@hbs.edu And William H. Meckling University of Rochester Abstract This paper integrates elements from the theory of agency, the theory of property rights and the theory of finance to develop a theory of the ownership structure of the firm. We define the concept of agency costs, show its relationship to the ‘separation and control’ issue, investigate the nature of the agency
Words: 28422 - Pages: 114
Professor Owen R. Phillips University of Wyoming Ross Hall 124 COURSE SYLLABUS FOR INTERMEDIATE MICROECONOMICS 4020 Course Description and Prerequisites Economics is broadly defined as a way of thinking about problems of allocation. This course entails the use of intermediate microeconomic theory in the analysis of problems facing decision-makers, not only in business, but also in government and other nonprofit organizations. Intermediate microeconomic theory can be described as
Words: 3518 - Pages: 15
Introduction In Russia, approximately 70,000 state-owned enterprises have been privatized since 1992. The purpose of this was to move Russia to market economy. Many of the buyers were foreign investors and companies. In the late 1990’s, citizens were still concerned due to the weak economy. Politicians began promoting deprivatization, which meant reversing previous privatizations and either having the state run them or reselling them to other entities. As the privatization laws in Russia were
Words: 786 - Pages: 4
PRICING STRATEGY IN IMPERFECT MARKET CONDITION Outline: 1. Imperfect markets * Characteristics * Number of firms * Type of products * Entry conditions 2. Industry examples of each market 3. List of Specific companies and their competitors in each industry for analysis * Pricing strategy of the companies in each market * Price discrimination applicability * Market power * Different customer
Words: 1140 - Pages: 5
2 No. 19 [Special Issue - October 2011] Perceived Relationship between Corporate Capital Structure and Firm Value in Nigeria Semiu Babatunde ADEYEMI Department of Accounting University of Lagos Lagos, Nigeria Collins Sankay OBOH Department of Accounting University of Lagos Lagos, Nigeria Abstract This study examined the empirical effects of corporate capital structure (financial leverage) on the market value of a selection of firms listed on the Nigerian Stock Exchange. Both primary and secondary
Words: 7951 - Pages: 32
construction equipment and has seen only increased profits year after year. FGI has also never had to lay off any of its employees. “This track record has allowed their stock to grow from $5.00 to $85.60 with stock splits from 1975 to 1998. FGI has never issued bonds, and the present stock value is $35” (University of Phoenix, 2011, p. 1). Unfortunately, with the current economic downturns, natural disasters, and a decline in new-home sales, profits for FGI began to decline by 30% from the previous
Words: 2719 - Pages: 11
should be in line with either profit maximization or market value maximization. - According to profit maximization, a physical asset is worth acquiring if it increases the net profit of the owners of the firm. But net profit increases only if the expected rate of return on the asset exceeds the rate of interest - According to market value maximization an asset is worth acquiring if it increases the value of the owners equity i.e. if it adds more to the market value of the firm then the
Words: 1988 - Pages: 8
