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- Anomalies in capital market efficiency (1)
- Budget Auditing (1)
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- Development (1)
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- Intrinsic value of the corporation (1)
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- Shareholder choice (1)
- Sprawl (1)
- Takeover defenses (1)
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Articles 1 - 4 of 4
Full-Text Articles in Business
Legislative-Executive Relations And The Budgetary Process In Nigeria: An Evaluation Of The 1999 Constitution., S.C. Rapu
CBN Occasional Papers
Since the transition to civilian rule in May 29, 1999, the country has witnessed conflicts between the legislature and the executive over budget matters. These conflicts are not only restricted to the federal level but also a common phenomenon at the state government level. This paper discussed the poor relationship over the budget matters and made suggestions on how to improve the process. The paper surveyed the literature on the legal framework of the budgetary process in several countries. Thereafter, the paper examined the legal framework for the budgetary process in Nigeria as well as the issues involved. The paper …
Model State Land Use Legislation For New England, New England Environmental Finance Center, Muskie School Of Public Service
Model State Land Use Legislation For New England, New England Environmental Finance Center, Muskie School Of Public Service
Legislation
Sprawl is neither the ordained nor the inevitable outcome upon the New England landscape. A coordinated response to sprawl by the public and private sectors is possible, and could dramatically improve land use patterns and reduce the cost of local government. For the New England states, such a response would include, among other elements, legislation to eliminate existing gaps in the land use laws of each state – gaps that presently encourage or sanction sprawling development. It would also include incentives for municipalities to think beyond their borders and to act with greater efficiency and effect. It is the purpose …
Down But Not Out: The Future Of The Financial Services Industry, Arindam Bandopadhyaya, Miranda Detzler, Mohsin Habib
Down But Not Out: The Future Of The Financial Services Industry, Arindam Bandopadhyaya, Miranda Detzler, Mohsin Habib
Financial Services Forum Publications
The financial services industry is a key sector of the U.S. economy. It is a noteworthy contributor to the overall gross domestic product and is an important component of the gross state product for many states. With the downturn in the economy at the beginning of this decade and the accompanying declines in stock market values, the industry has been hit hard. Asset management firms have experienced sharp decreases in their assets under management; banks and insurance companies have had to refocus their operations and have become increasingly vulnerable to acquisition. As evidence grows stronger that it is unlikely that …
Takeover Defense When Financial Markets Are (Only) Relatively Efficient, Michael L. Wachter
Takeover Defense When Financial Markets Are (Only) Relatively Efficient, Michael L. Wachter
All Faculty Scholarship
This paper evaluates the impact of developments in the understanding of asset value pricing for alternative legal standards for takeover defenses: the management discretion and the shareholder rights positions. Both sides place considerable, albeit implicit, reliance on alternative views of the efficiency of financial markets. Developments in finance theory show that when financial markets are only "relatively efficient," stock prices can incorrectly value the corporation at any point in time, at the same time as investors cannot outperform the market on an ongoing basis. I focus on financial market anomalies arising from the failure of the capital asset pricing model …