Flow, Corporate Finance, and Takeovers Michael C. Jensen* American Economic Review, May 1986, Vol. 76, No. 2, pp. 323-329. Corporate managers are the agents of shareholders, a relationship fraught with conflicting interests. Agency theory, the analysis of such conflicts, is now a major part of the economics literature. The
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Apple Computer, Inc Company Report I have chosen to do Apple Computer, Inc for my company report. Apple is in the computer software industry and in the technology sector. Apple is a very interesting company with its vast relationships with other big companies and also huge loyal customer base it has created over the years. From the buyer concentration aspect Apple has many relationships with huge manufacturing companies such as LG and previously Samsung for their iPhone and iPad displays. All the
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Case study analysis: "Walmart's Strategies in China" Introduction: Wal-Mart Stores, Inc. (NYSE: WMT), branded as Walmart, is an American multinational retail corporation that runs chains of large discount department stores and warehouse stores. The company is the world's third largest public corporation, according to the Fortune Global 500 list in 2012, the biggest private employer in the world with over two million employees, and is the largest retailer in the world. Walmart
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1|Page Company History Toyota is world's second-biggest auto maker after General Motors Corporation. Toyota primarily conducts business in the automotive industry but in the finance and other industries as well. The Toyota automobile company as it began, specialized in making cars, but now also forms a leading pioneer in bus, trucks, robot manufacturer, truck, auto and financial service providers. In 1933, Kiichiro Toyoda established an automobile division within an already successful Japanese
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Executive Summary Chevron commits huge resources to tackle environmental risks; this report studies the viability of doing so. We find that (1) it is using a right combination of internal and external tools to increase workers’ awareness, diversify environmental risks and mitigate moral hazard at the same time; and (2) the Decision Making (“DEMA”) system is valuable to the company in providing a systematic framework to quantify environmental risks. Introduction Chevron operates in the business
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percentage of crude oil is sourced overseas Caltex operates in a sensitive industry for a number of different reasons, the risks of transporting oil alone is not to be taken lightly given the corporate governance issues that arose from the infamous Exxon Vladex spill that cost the company not only financially but also significantly damaged the environment and their reputation (Miranda, Ferrara & Michele 2012). According to (Davison 1963) the domestic crude oil industry has been negatively associated
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101 Bil with an asset base of US$155 Bil. This report provides an insight to the Board of Directors of the financial performance of ConocoPhillips since 2002 and will be benchmarked against competitors in the industry to give a cross sectional analysis. Whilst the growth of ConocoPhillips has been impressive over the last 10 years, earnings have not performed according to its peers in the industry. During this period, the Company had reported several impairments to its major assets and its earnings
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The primary goal of this portfolio was to maximize growth and value of the portfolio through an active investment strategy. This portfolio was concentrated in large cap U.S equities and domestic mutual funds. There was a blend of small cap growth stocks, which were selected based on potential for large growth. This decision was in line with our primary goal of maximizing growth. The portfolio is highly focused in the technology sector in order to capitalize on advance in the short-term. The portfolio
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Kajian Penerapan PSAK 48 (revisi 2009): Penurunan Nilai Aset di Perusahaan Migas Oleh: Yohanes Handoko Aryanto1 2011 1 Penulis merupakan peneliti independen mantan staf divisi teknis Ikatan Akuntan Indonesia. Kata Pengantar Dengan usaha yang optimal, bantuan dari segala pihak, dan terutama atas rahmat dari Tuhan YME, kajian ini akhirnya dapat diselesaikan dengan baik. Di luar segala kekurangannya, tulisan ini
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Company Profile History Key Dates: 1976: With $1,300, Steve Jobs and Steve Wozniak found Apple Computer, Inc. 1980: Apple converts to public ownership. 1982: Apple becomes the first personal computer company to reach $1 billion in annual sales. 1985: John Sculley assumes the helm after a management shakeup that causes the departure of Jobs and several other Apple executives. 1991: PowerBook line of notebook computers
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