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You notice that the time is getting late and you decide to leave the office for the day, satisfied with your work thus far at Shefrain Consulting. Prior to leaving the office you check your company mailbox for the first time and notice a copy of Fortune magazine with a sticky note marking the page with the following quotation: "I have never asked to serve on a corporate board, never even hinted at wanting to be on one. And I have never asked to be on a compensation committee. I suspect that the reason I've been put on so many is that word gets around that I believe in paying people very, very well... I cannot sit and say to you what the right compensation number is. That's the judgment call, the business judgment call. That's what a board of directors does... What I know most of all is that when I see extraordinary effort and results out of a CEO, you can't pay him enough." Furthermore you notice scribbled on the sticky note a brief note from your CFO indicating that he has been asked to serve on a compensation committee for a large fortune 500 company. Having freshly graduated from college, he asks if you would be willing to brief him on the dynamics of board of directors in the context of recent literature in Behavioral Finance.
Question: Prepare a professional 1-2 page memo addressed to the CFO describing the recent behavioral finance literature on the topic on issues related to the Board of Directors, double-space, Times New Roman 12 point font; reference page(s) do not count in the page limit. In your report be sure to include at least 4 recent academic references.'
You observe the following in relation to a 4-month European put option on the S&P200 index. Use Black-Scholes option pricing model to value the put option. State any assumptions you make. Take into consideration different compouding. Please do manual..
Suppose you are the accountant for a small cabinet building shop, and it is the end of January. Your manager, who is also the owner of the business, is in the process of trying to get a loan from the bank. Is this an ethical dilemma or a basic legal ..
McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $840 per set and have a variable cost of $440 per set. The company has spent $154,000 for a marketing study that determined the company will sell 58,000 sets per year ..
You are scheduled to receive a $1,500 cash flow in one year, a $2,000 cash flow in two years, and pay a $1,800 payment in three years. If interest rates are 4 percent per year. What is the combined present value of these cash flows?
The appropriate capital budgeting decision rule is ____
They pay on debt. Each has $19 million in invested capital, has $4.75 million of EBIT, and is in the 40% federal-plus-state tax bracket. Firm HL, however, has a debt-to-capital ratio of 60% and pays 12% interest on its debt, whereas LL has a 40% debt..
Calculate the Economic Life in Mscf per month for a gas lease with WI = 100%, NRI = 87.5%, condensate price = $15/STB, gas price = $2.25/Mscf, condensate yield = 5 STB/Mscf, gas and severance tax (each) = 4.5%. Assuming that ad valorem tax is negligi..
Suppose your portfolio mirrors S&P500 index and is valued currently at $1,000,000. The S&P 500 index is currently at 2,000. What action is needed to provide protection against the value of the portfolio falling below $950,000 in 6 months?
On January 1, 2014, Frog Corporation sold a $2,800,000, 12 percent bond issue (6 percent market rate). The bonds were dated January 1, 2014, pay interest each June 30 and December 31, and mature in 3 years. Prepare the journal entry to record the int..
If a stock has a beta of 1.3 would its required rate of return be higher or lower than the required return for the average stock on the market? Why? Would it be more or less risky than holding a fund that replicated the S&P 500 Index ? Why?
Read the article entitled: Net Operating Working Capital Behavior: A First Look (Hill, M.D, Kelly, G.W., Highfield, M.J. (2014). The results of their research suggested that operating and finance conditions should be considered when evaluating capita..
The industry-low, industry-average, and industry-high cost benchmarks on pp. 5-6 of each issue of the GLO-BUS Statistical Review
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