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Many investment banks practice an "up or out" policy, with new hires being either fired or promoted within a few years. Many large law firms and accounting firms use a similar policy, as do colleges with respect to their tenure-track faculty.
Most firms, however, do not use this policy. In a typical firm, after a short probationary period, most employees continue to work for the firm indefinitely, with no set time before they are considered for promotion.
What are the advantages and disadvantages to investment banks and other firms of using an "up or out" employment policy? Are there advantages to employees?
If there are no advantages to employees, how are investment banks able to find people willing to work for them?
As a consultant to GBH Skiwear, you have been asked to compute the appropriate discount rate to use in the evaluation of the purchase of a new warehouse facility. The firm’s marginal tax rate is 34%. What discount rate should you use to evalutate the..
Simple Interest versus Compound Interest {LO1] First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest on its compounded annually. If you made a $6,000 deposit in each bank, how..
Francis Peabody just won the $89,000,000 California State Lottery. The lottery offers the winner a choice of receiving the winnings in a lump sum or in 26 equal annual installments to be made at the beginning of each year. What is the amount of the l..
A treasury bill with 6 days to maturity is quoted at 99.012. What is the bank dicount yeild, the bond equivalent yield, and the effective annual return?
An unlevered firm, Marshall Inc., has a constant EBIT of $1,500,000 per year in perpetuity. It is considering the use of some debt financing to repurchase shares. What is Marshall’s market value and the WACC before any debt is taken on? In M&M’s case..
BDJ Co. wants to issue new 22-year bonds for some much-needed expansion projects. The company currently has 8.7 percent coupon bonds on the market that sell for $1,127, make semi-annual payments, and mature in 22 years.
Plains National Bank has interest income of $250 million and interest expense of $110 million, noninterest income of $40 million and noninterest expense of $65 million on earning assets of $3,900 million. What is Plains' overhead efficiency ratio?
Suppose a project costs 200,000 today, 100,000 next year and 15000 to dispose of it in ten years when the project is discontinued. Once finished three years from today, it is expected to generate a net income of 40000 per year until it is discontinue..
In your own words, what does the empirical evidence on block trading tell us about market efficiency? - Which of the following types of information provides a likely opportunity to earn abnormal returns on the market?
Beta is a measure of volatility. Discuss how beta is utilized by the individual investor for decision making regarding one particular stock. Also, discuss how to utilize beta when examining one particular stock to fit within a portfolio of stocks. Ap..
Colorado Company has provided you the following information. The enacted tax rate remains at 40% after year 2017. Colorado Company has determined that a valuation allowance is not necessary. Prepare the journal entry on December 31, 2017 to record th..
Determine the net (pretax) benefits to TEC of using a wire transfer payment system if monthly payments from each customer average $25,000 and $50,000.
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