Modern Classics of Comparative Politics - Albert O. Hirschman.. Exit, voice and Loyalty.

Modern Classics of Comparative Politics. PO605 Albert O. Hirschman.. Exit, voice and Loyalty Under any economic, social, or political system, individuals, business firms, and organisations in general are subject to lapses from efficient , rational, law-abiding, virtuous or otherwise functional behaviour. No matter how well a societies basic institutions are devised, failures of some actors to live up to the behaviour which is expected of them are bound to occur, if only for all kinds of accidental reasons. Each society learns to live with a certain amount of dysfunctional or misbehaviour, but lest the misbehaviour feed on itself and lead to general decay, society but be able to marshal from within itself forces which will make as many of the faltering actors as possible revert to the behaviour required for its proper functioning. This book undertakes a reconnaissance ( exploration) of these forces as they operate in the economy. While moralists and political scientists have been much concerned with rescuing individuals from immoral behaviour, societies from corruption, and governments from decay, economists have paid little attention to repairable lapses of economic actors. There are two reasons for this neglect. First, in economies one assumes either fully and undeviating rational behaviour or, at the very least, an unchanging level of rationality on the part of the

  • Word count: 728
  • Level: University Degree
  • Subject: Business and Administrative studies
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National Grid Group (The) PLC[1] - Case study.

Table of contents .Companies background 2 .1 National Grid Group (The) PLC 2 .2 Scotish Power PLC 3 2. The Financial statements 5 The balance sheet 5 Assets 5 Liabilities 5 Income Statement 6 Cash flows 6 3. Ratios analysis 7 .ROCE (Return on Capital Employed 7 a.Scottish Power 7 b.National Grid 7 2.Return on Owner's Equity 8 a.Scottish Power 8 b.National Grid 8 3.Gross Profit Margin 8 a.Scottish Power 9 b.National Grid 9 4. Net Profit Margin 9 a.Scottish Power 9 b.National Grid 9 5.Asset Turnover Ratio 10 a.Scottish Power 10 b.National Grid 10 6.Stock Turnover Period 11 a.Scottish Power 11 b.National Grid 11 7.Average Settlement Period For Debtors 11 a.Scottish Power 11 b.National Grid 11 8.Average Settlement Period For Creditors 12 a.Scottish Power 12 b.National Grid 12 9.Current Ratio 12 a.Scottish Power 12 b.National Grid 13 0.Acid Test Ratio 13 a.Scottish Power 13 b.National Grid 13 1.Operating cash flows to Maturing obligations 13 a.Scottish Power 14 b.National Grid 14 2.Gearing Ratio 14 a.Scottish Power 14 b.National Grid 14 3.Interest Cover Ratio 15 a.Scottish Power 15 b.National Grid 15 4. Dividend Per Share 15 a.Scottish Power 15 b.National Grid 15 5.Earnings per Share 16 aScottish Power 16 b.National Grid 16 6,Price Earning Ratio 16 4. Additional Information that Would have been of Use 17 5.Financial

  • Word count: 5583
  • Level: University Degree
  • Subject: Business and Administrative studies
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Interview of an Entrepreneur.

Agis Josephides Bus 495Y 1/13/2003 Interview of an Entrepreneur For my "entrepreneur interview" I had the privilege of interviewing John Conforti, owner of the company "Job Lot" situated in Rhode Island. Trying to find an entrepreneur involved in a high growth venture my friend referred me to his uncle who has a great business on his hand. I therefore was swift to email him some questions about his business, and himself. He answered my questions very helpfully and detailed, and seeing in my keen interest in his career he set up a phone call whereby he further helped me out with my further inquiries. I asked him many questions about his job in order to find out how he made it to the top. I asked him questions such as how did he get started, how much capital he initially invested and what plans he had for the future. I even asked him questions about himself, such as did he have a lot of pleasure time to spend with the family, was it very stressful and if he believes it was all worth while. These are only a few examples from the many questions I asked him. This interview helped me out a lot. It taught me a lot of things of how one creates a business and what consequences it has on his lifestyle. As a college student he took business management classes with the hope of one day owning his own company. At this moment when I asked him if college helped him he responded that it

  • Word count: 547
  • Level: University Degree
  • Subject: Business and Administrative studies
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Sceleton of a Business Plan.

BUSINESS PLAN Business Name Prepared by: (your name) Date: . SUMMARY * This is a summary of the overall Business Plan. * Do the rest of the plan before this part. * Write a sentence or two to summarise each section of the plan. * Keep it to half a page in length. 2. DETAILS OF THE BUSINESS Business Name * What is your official business name or intended name? Address * What is your address? * In the case of a limited company, your registered office * For sole traders and partnerships, it is where legal documents can be served; this is often your home address. Website * What is your website address? Telephone No. * What is your business telephone number? E-mail address * What is your business e-mail address? Legal Status * What type of business will you have? * Sole trader * Partnership * Limited Liability company * co-operative Date of start or proposed start * When do you plan to start? * If not known precisely, give an approximate date. Name(s) of partners or other director(s) * If you are trading as a partnership, give the names of the other partner(s). * If you are trading as a limited company, give the names of the other director(s). * If are trading as a co-operative, give the names of the other members. 3. PERSONAL DETAILS Name * What is your name? Address * What is your home address? Telephone No. * What is your home phone

  • Word count: 2314
  • Level: University Degree
  • Subject: Business and Administrative studies
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Corporate Finance.

lCorporate Finance Course Assignment Table of Contents Introduction 2 2 Summary of Arguments 3 2.1 Timing, investment opportunities, managerial discretion and the security issue decision 3 2.2 Testing static tradeoff against pecking order models of capital structure 4 2.3 Testing static tradeoff against pecking order models of capital structure: a critical comment 5 3 References: 9 Introduction In order to discuss the articles supplied I feel it would be useful to briefly define the key expressions at this time. Pecking order Theory: "When [internal funds] are exhausted and there exists a deficit in funds, firms will prefer safer debt to riskier equity. Thus, there exists a financial hierarchy descending from internal funds, to debt, to external equity. Funds are raised through equity issues only after the capacity to issue debt has been exhausted. Firms finance investments first from internal funds, then from debt and only as a last resort from new equity."1 Agency Model Theory: "management sometimes peruse their own objectives ... at the expense of the shareholders"2 Timing Model Theory: "firms experience long term underperformance after they issue equity"2 Static Tradeoff Theory: "[T]he firm's capital structure is determined by a tradeoff between the benefits of tax shields and the costs associated with bankruptcy"3 2 Summary of Articles 2.1 Timing,

  • Word count: 1523
  • Level: University Degree
  • Subject: Business and Administrative studies
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A Permanent Plan for the Alaska Permanent Fund.

A Permanent Plan for the Alaska Permanent Fund Jennifer Greene LL 101: Argumentative Writing J. Mark Dudick July 21, 2003 In 1977, Alaskans had the undeniable good sense and extraordinary foresight to establish the Alaska Permanent Fund. We realized the importance of putting away a portion of the state's one-time oil wealth, acknowledged that one day the stream of income from the oil would be gone and wanted to ensure that future generations of Alaskans would benefit from our prudence. Since it's inception, with an initial deposit of $734,000, we have been steadfast in building the Fund, and over the years, we have created one the hundred largest savings accounts in the world, today valued at nearly $25 billion, exceeding such prominent financial establishments as the Rockefeller Foundation, the Ford Foundation, and the J. Paul Getty Trust (APFC, 1997, chap. 1). The growth of the Fund is not only a result of saving, but also of protecting what is already in the bank - the principal - from it's worst enemy: inflation. Historically, lawmakers have been scrupulous in not only inflation proofing the Fund, but in loading it with extra deposits to speed it's growth (APFC, 2002, p.43). But in actuality, the principal of the Fund is subject to only statutory inflation proofing, leaving the door open for the legislature, current or future, to eliminate the statute and spend all

  • Word count: 1681
  • Level: University Degree
  • Subject: Business and Administrative studies
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Corporate Governance - Management Accounting and Taxation.

Report to the Board of Directors AC Ltd MSc Corporate Governance Management Accounting and Taxation Word count: 3037 (not included bibliography and appendices) Wednesday, April 23, 2003 Contents Page Number Introduction 3 Purpose Background Information Supporting Information Part 1 Employment Tax Implications 4 Part 2 Expansion to Overseas Countries 7 Part 3 DC Ltd 10 Part 4 Financing the Expansion 11 Conclusions and Recommendations 12 Bibliography 13 Appendices 15 Appendix 1. Tax Codes Appendix 2. PAYE Thresholds Appendix 3. UK Double Taxation Agreements INTRODUCTION Purpose This report commissioned by the Board of Directors of AC Ltd, focuses on a number of important taxation issues including income tax, VAT, Corporation Tax and taxation relating to overseas activity. Background Information AC Ltd is a large manufacturing organisation based in the UK. It is assumed that the company was incorporated in the UK and is therefore a UK resident. Currently the business produces fashion clothing and sells to outlets in London and the UK. The Directors of AC Ltd are considering the expansion of the business through two methods; . Through expansion of operations overseas; both EC and other countries, and, 2. By acquiring a controlling interest in a UK company involved in retail sales of

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  • Level: University Degree
  • Subject: Business and Administrative studies
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HEYWORTH LTD. The appraisal techniques of Accounting Rate of Return (ARR), Payback, Net Value, Net Present Value (NPV) and Internal Rate of Return (IRR) will be examined in this paper

Marc Menendez 05260233 BA (HONS) BUSINESS MANAGEMENT FINANCIAL ACCOUNTING YEAR 2 - ASSIGNMENT ONE HEYWORTH LTD. The appraisal techniques of Accounting Rate of Return (ARR), Payback, Net Value, Net Present Value (NPV) and Internal Rate of Return (IRR) will be examined in this paper. The strengths and weaknesses of each technique will be evaluated and compared against one another in order to determine which is the most suitable aid to the decision making process in the context of Heyworth Ltd. The context is Heyworth LTD's desire for financial growth through investment. Several proposals have been submitted of which we will use one in order to illustrate the calculation and effectiveness of each technique. An in depth accurate project appraisal is needed in light of the substantial capital investment required In order to ensure an informed, objective and logical decision making process, the company must ensure the implementation of the most effective and suitable project appraisal technique, together with accurate forecasts and wise risk assessment. Accounting Rate of Return ARR can be defined as "the ratio of profit before interest and taxation to the percentage of capital employed at the end of a period. Variations include using profit after interest and taxation, equity capital employed, and average capital for the period" (PowerHomeBiz.com, 2006) ARR% = (Average

  • Word count: 2421
  • Level: University Degree
  • Subject: Business and Administrative studies
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Taxation- Judgement Day

. INTRODUCTION 3 .1 BACKGROUND 3 2. SUMMARY OF CONTENT 4 2.1 MAIN CONCERNS 4 2.2 FACTS 4 2.3 ARGUMENTS 5 2.31 Arguments by WHS 5 2.32 Arguments by HMCR 5 2.4 DECISION 6 3. STATUTORY REFERENCES 7 4. CASE LAW 9 4.1 MAIN ISSUES:- 9 4.2 TAX PAYER ARGUMENTS:- 9 4.3 COURT INTERPRETATION OF "JUDGMENT": - 10 4.4 DECISION: - 10 5. HMRC MANUALS 11 5.1 V1-24A: TRADERS RECORDS 11 5.2 V-24B: OFFICERS POWERS 12 6. CONCLUSION 13 6.1 OVERALL VIEW 13 6.2 NEED FOR NEW LEGISLATION 14 7. BIBLIOGRAPHY 15 . Introduction .1 Background With reference to the Tax Journal "Judgement Day", issue no 540, 20th March 2000, by Ian Somerville, this article reviews VAT implications for WHS of assumed thefts. The author analyses the consequences that company can face when working out its VAT liability where there is a danger of its staff taking the cash out after the sales are made or the stock stolen by shoplifters. WH Smith Retail Ltd encompasses retailers such as Virgin, Our Price and Waterstones operate using either scheme J or F1. Below the author has summarised the main points of this Tax case, highlighting the implication retailers can face regarding their VAT liability of unrecorded sales or theft of cash with reference to statutory provisions and relevant references to case law. This case has significant consequences for the future of retails industry in regards to

  • Word count: 3280
  • Level: University Degree
  • Subject: Business and Administrative studies
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As the financial manager of Lawrence Sports the company's cash position is of my highest concern. The circumstances we as Learning Team A have endured with our primary customer Mayo Stores have created difficulty with our working capital

Memorandum To: Stephanie Sanders, CFO, Lawrence Sports and Lan Guan, Instructor for FIN/554 CC: Learning Team A Newsgroup From: Shivanand R Koppalkar, Andrew Gorman, Scott Schifilliti, Ha Nguyen and Megan Wilson Date: April 3, 2006 Re: Working Capital Management Simulation Based Memo. Collection and Payment Policies As the financial manager of Lawrence Sports the company's cash position is of my highest concern. The circumstances we as Learning Team A have endured with our primary customer Mayo Stores have created difficulty with our working capital management. We have developed options to improve our cash flow and reduce high interest debt. We must bring our business partners closer to the problem. Meetings have been scheduled with senior members of our supply chain management. The principal owners of Gartner and Murray, our top vendors have been called in to discuss the problem. Neither company was encouraged about moving payment schedules to offset slow payments from our customer; however, they understand the need to take action. As a team we decided to distribute the burden in both directions. We requested that our customer increase their payment timing and pay a premium for the products we supply to offset the high interests rates. At the same time we have worked out an arrangement with our vendors to obtain a better payment schedule with their suppliers of

  • Word count: 1531
  • Level: University Degree
  • Subject: Business and Administrative studies
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