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Nội dung chi tiết: Test bank and solution manual of essentials of corporate finance 9e ross (1)

Test bank and solution manual of essentials of corporate finance 9e ross (1)

Solution Manual Sample.pdfIM_Chap002_9e.pdfChap002_9e.pdfEOC_9th_edition_Chapter_02.pdfEOC_9th_edition_Chapter_02 (1 ).pdfSolutions ManualEssentials o

Test bank and solution manual of essentials of corporate finance 9e ross (1)of Corporate FinanceRoss, Westerfield, and Jordan 9th edition42372Prepared byBrad JordanUniversity of KentuckyJoe Sntolira Belmont UniversityCHAPTER 1

INTRODUCTION TO CORPORATEFINANCEAnswers to Concepts Review and Critical Thinking Questions1Capital budgeting (deciding on whether to expand a manufact Test bank and solution manual of essentials of corporate finance 9e ross (1)

uring plant), capital structure (deciding whether to issue new equity and use the proceeds to retire outstanding debt), and working capital management

Test bank and solution manual of essentials of corporate finance 9e ross (1)

(modifying the Finn's credit collection policy with its customers>.2Disadvantages: unlimited liability, limited life, difficulty in transferring owne

Solution Manual Sample.pdfIM_Chap002_9e.pdfChap002_9e.pdfEOC_9th_edition_Chapter_02.pdfEOC_9th_edition_Chapter_02 (1 ).pdfSolutions ManualEssentials o

Test bank and solution manual of essentials of corporate finance 9e ross (1)er than corporate tax rates.3The primaiy disadvantage of the corporate form is the double taxation to shareholders of distributed eamings and dividend

s. Some advantages include: limited liability, case of transferability, ability to raise capital, and unlimited life.4The treasurer's office and the c Test bank and solution manual of essentials of corporate finance 9e ross (1)

ontroller's office are the two primary organizational groups that report directly to the chief financial officer. The controller's office handles cost

Test bank and solution manual of essentials of corporate finance 9e ross (1)

and financial accounting, tax management, and management information systems. The treasurer's office is responsible for cash and credit management, c

Solution Manual Sample.pdfIM_Chap002_9e.pdfChap002_9e.pdfEOC_9th_edition_Chapter_02.pdfEOC_9th_edition_Chapter_02 (1 ).pdfSolutions ManualEssentials o

Test bank and solution manual of essentials of corporate finance 9e ross (1) maximize the current market value (share price) of the equity of the firm (whether it's publicly-traded or not).6In the corporate form of ownership,

the shareholders arc the owners of the firm. The shareholders elect the directors of the corporation, who in turn appoint the firm's management. This Test bank and solution manual of essentials of corporate finance 9e ross (1)

separation of ownership from conưol in the corporate form of organization is what causes agency problems to exist. Management may act in its own or so

Test bank and solution manual of essentials of corporate finance 9e ross (1)

meone else's best interests, rather than those of the shareholders. If such events occur, they may contradict the goal of maximizing the share price o

Solution Manual Sample.pdfIM_Chap002_9e.pdfChap002_9e.pdfEOC_9th_edition_Chapter_02.pdfEOC_9th_edition_Chapter_02 (1 ).pdfSolutions ManualEssentials o

Test bank and solution manual of essentials of corporate finance 9e ross (1)) to buy and sell their assets. Dealer markets like NASDAQ represent dealers operating in dispersed locales who buy and sell assets themselves, usuall

y communicating with other dealers electronically or literally over the counter.9Since such organizations frequently pursue social or political missio Test bank and solution manual of essentials of corporate finance 9e ross (1)

ns, many different goals arc conceivable. One goal that is often cited is revenue minimization: i.c.. providing their goods and services to society at

Test bank and solution manual of essentials of corporate finance 9e ross (1)

the lowest possible cost. Another approach might be to observe that even a not-CHAPTER I -2for-profit business has equity. Thus, an appropriate goal

Solution Manual Sample.pdfIM_Chap002_9e.pdfChap002_9e.pdfEOC_9th_edition_Chapter_02.pdfEOC_9th_edition_Chapter_02 (1 ).pdfSolutions ManualEssentials o

Test bank and solution manual of essentials of corporate finance 9e ross (1)se things are priced. Tills implies an optimal level of ethical and/or illegal behavior and the framework of stock valuation explicitly includes these

. At the other extreme, we could argue that these are non-economic phenomena and arc best handled through the political process. The following is a cl Test bank and solution manual of essentials of corporate finance 9e ross (1)

assic (and highly relevant) thought question that illustrates this debate: “A firm has estimated that the cost of improving the safety of one of its p

Test bank and solution manual of essentials of corporate finance 9e ross (1)

roducts is $30 million. However, the firm believes that improving the safety of the product will only save $20 million in product liability claims. Wh

Solution Manual Sample.pdfIM_Chap002_9e.pdfChap002_9e.pdfEOC_9th_edition_Chapter_02.pdfEOC_9th_edition_Chapter_02 (1 ).pdfSolutions ManualEssentials o

Test bank and solution manual of essentials of corporate finance 9e ross (1)litical, and economic climates.12The goal of management should be to maximize the share price for the current shareholders. If management believes tha

t it can improve the profitability of the firm so that the share price will exceed $35. then they should fight the offer from the outside company. If Test bank and solution manual of essentials of corporate finance 9e ross (1)

management believes that this bidder or other unidentified bidders will actually pay more than $35 per share to acquire the company, then they should

Test bank and solution manual of essentials of corporate finance 9e ross (1)

still fight the offer. However, if the current management cannot increase the value of the firm beyond the bid price, and no other higher bids come in

Solution Manual Sample.pdfIM_Chap002_9e.pdfChap002_9e.pdfEOC_9th_edition_Chapter_02.pdfEOC_9th_edition_Chapter_02 (1 ).pdfSolutions ManualEssentials o

Test bank and solution manual of essentials of corporate finance 9e ross (1)oration is acquired, poorly monitored managers have an incentive to fight corporate takeovers in situations such as this.13Wc would expect agency prob

lems to be less severe in other countries, primarily due to the relatively small percentage of individual ownership. Fewer individual owners should re Test bank and solution manual of essentials of corporate finance 9e ross (1)

duce the number of diverse opinions concerning corporate goals. The high percentage of institutional ownership might lead to a higher degree of agreem

Test bank and solution manual of essentials of corporate finance 9e ross (1)

ent between owners and managers on decisions concerning risky projects. In addition, institutions may be able to implement more effective monitoring m

Solution Manual Sample.pdfIM_Chap002_9e.pdfChap002_9e.pdfEOC_9th_edition_Chapter_02.pdfEOC_9th_edition_Chapter_02 (1 ).pdfSolutions ManualEssentials o

Test bank and solution manual of essentials of corporate finance 9e ross (1)nership of stock in the United States and the growing activism of these large shareholder groups may lead to a reduction in agency problems for U.S. c

orporations and a more efficient market for corporate control.14How much is too much? Who is worth more. Michael Fries or LeBron James? The simplest a Test bank and solution manual of essentials of corporate finance 9e ross (1)

nswer is that there is a market for executives just as there is for all types of labor. Executive compensation is the price that clears the market. Th

Test bank and solution manual of essentials of corporate finance 9e ross (1)

e same is true for athletes and performers. Having said that, one aspect of executive compensation deserves comment. A primary reason executive compen

Solution Manual Sample.pdfIM_Chap002_9e.pdfChap002_9e.pdfEOC_9th_edition_Chapter_02.pdfEOC_9th_edition_Chapter_02 (1 ).pdfSolutions ManualEssentials o

Test bank and solution manual of essentials of corporate finance 9e ross (1) attempt to better align stockholder and management interests. In recent years, stock prices have soared, so management has cleaned up. It is sometime

s argued that much of this reward is simply due to rising stock prices in general, not managerial performance. Perhaps in the future, executive compen Test bank and solution manual of essentials of corporate finance 9e ross (1)

sation will be designed to reward only differential performance, i.c.. stock price increases in excess of general market increases.

Solution Manual Sample.pdfIM_Chap002_9e.pdfChap002_9e.pdfEOC_9th_edition_Chapter_02.pdfEOC_9th_edition_Chapter_02 (1 ).pdfSolutions ManualEssentials o