deals completed globally during the 12 months to November 2009 was US$1.8 trillion. However, the acquirers’ shareholders often lose value. Much of the literature on M&A is centred on the UK and US markets, with only a modest level of research within Australia This paper suggests a new proposition to explain why M&A activity may be value destroying for the acquirers: Success or failure for the acquiring firm’s shareholders in M&A is a function of the combined tenure, personal motivation, and recent
Words: 5864 - Pages: 24
acquisitions. High free cash flow and dividend yield Photo taken by the report’s lead analyst in rural China. “A Christmas to remember” – December 2010 3998 HK Price 27 Oct 11 12-month target Upside/Downside Valuation - PER Outperform HK$2.07 HK$ % HK$ 2.80 35.3 2.80 Bosideng is currently sitting on HK$2.8bn net cash and we forecast a free cash flow yield of 6% in FY12, rising to 10% in FY14. With a 75% payout ratio, Bosideng should generate a dividend yield of 8% in FY12. Bosideng is looking
Words: 7701 - Pages: 31
CHAPTER-1 INTRODUCTION Stock exchange play a pivotal rate in the economic development of under developed developing and least developed countries like Bangladesh. It contributes to the development of economy through the development of business and industries. It can perform well to meet financial needs of business enterprises on a continuous basis. Stock market in considered to be parameter of the economy. It is mechanism to flow fund from the hands of small savers (Individual and Institution)
Words: 12609 - Pages: 51
TOPIC: ANALYSIS OF EQUITY SHARE CAPITAL AS A SOURCE OF FINANCE IN AN ORGANISATION RESEARCH PAPERS The 2 research papers under study are 1. The effect of CEO ownership and shareholder rights on cost of equity share capital. 2. What motivates seasoned equity offerings? Evidence from the use of issue proceeds. COST OF EQUITY CAPITAL AND ITS EFFECTS TO THE MANAGEMENT Introduction This paper investigates the cost of equity capital and its effects to the management which intends to hinder
Words: 4117 - Pages: 17
Financial turnaround of the Indian Railways: Good Luck or Good Management? Abstract We analyse the factors that led to the turnaround of the Indian Railways from a low performing organisation to a high performing one. Literature on public sector turnaround provides the theoretical underpinnings. Enterprise turnaround is often ascribed to managerial leadership; we found that environmental factors (good luck) contributed in a substantial way to the success of Indian Railways. The implication
Words: 20854 - Pages: 84
McDonalds Business Proposal Paper Dorrina Martini ECO/561 February 3, 2012 David Francom McDonalds Business Proposal McDonalds has always been a company that shares in the happiness of a child. Recently after taking my own children to McDonalds, I have found that there is not a breakfast option for children. McDonalds should add a happy meal option to the breakfast menu. Current demands by consumers are to add a happy meal option allowing parents to purchase child sized portions of breakfast
Words: 1240 - Pages: 5
ABSTRACT The following research will examine the capital structure of Pepsico and how the choices that the company makes affects their return on investment and their risk profile. The traditional theory of capital structure theorizes, “when the Weighted Average Cost of Capital (WACC) is minimized, and the market value of assets are maximized, an optimal structure of capital exists.” Pepsico analyzes their capital structure annually with their Board, including dividend policies and share repurchase
Words: 2290 - Pages: 10
FIN 86098 Research in Finance Term Paper Covenant violation: How does CDS market react? Abstract We investigate the difference of loan and firm characteristics between financial covenants violated firms and normal firms; how Credit Default Swap market reacts to the first time and second time violation information and what are the determinants of violation. We find that financial covenants violated firms are more likely to be less matured, growth companies. They also borrow less money per
Words: 5366 - Pages: 22
A Study of Monetary Policy Impact on Stock Market Returns (With Special Reference to Nifty and Bank Nifty) A PROJECT REPORT Submitted by Chintan Divetia (1011416026) Submitted to Mr. Raviraj Gohil Assistant Professor Department of Finance In partial fulfilment for the award of the degree of POST GRADUATION DIPLOMA IN MANAGEMENT in Finance Shanti Business School, Shela, Ahmedabad. ACKNOWLEDGEMENT It was a great opportunity for me to work with Sharekhan Ltd., pioneers
Words: 9604 - Pages: 39
May 28, 2013 Future Trends of the Company Abercrombie & Fitch This research paper that including three different sources is aim to point out the future trends of the company Abercrombie & Fitch. From the Wall Street Journal, we can find a great article “U.S. Retail Sales Growth Expected To Pull Back in 2013” that written by Joan E. Solsman, and then realize the future trend of A&F. U.S. retail sales are expected to rise 3.4% in 2013, their slowest rate since 2010
Words: 2027 - Pages: 9
