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The CFO of firm NIC Inc. failed to disclose the lavish perks afforded to its former CEO. Specifically, NIC Inc. paid for the restoration of the former CEO's mansion at a cost of more than $2 million, and recorded the transaction as a business expense instead of as a salary to the CEO. You can assume that these expenses were a significant fraction of the firm's operating profit. When the news that NIC Inc. had mislead investors was released on January 25, the stock fell by 1.9 %. On the same day, the overall U.S. stock market fell by 2.0 %. Over the 30 days prior to the event, and the 30 days following the event, the stock price of NIC Inc. fluctuated in line with the overall stock market (zero abnormal return on average).
A. The lack of an initial stock price reaction indicates that markets are inefficient as the stock price did not react to the negative news.
B. The initial stock price reaction on Jan 25 indicates that investors viewed the disclosure as having a negative impact on the value of equity.
C. The initial stock price reaction is consistent with a "no-news" event that did not affect the value of equity.
D. The initial stock price reaction is consistent with a partially anticipated event, where some investor traded on the news in anticipation.
The net profit on each unit of X and Y is €2,000 and €3,000 respectively. Formulate this problem as a linear programme. Use a graphical method to find an optimal solution. Use a suitable program to check your results.
If you are like millions of other financial-service customers, concerned about what financial-service companies may do with your private data.
Problem: Bob borrows 1000 from Ed at effective annual interest rate i, agreeing to repay in full at the end of one year. When the year is up, Bob has no money,
suppose the federal reserve uses data to estimate the currency-deposit ratio to be 0.90 the ratio of liquid savings
Refer to the figure above. Using the DuPont method, return on assets (investment) for MegaFrame Computer is approximately:
Calculate to the nearest 1% the rate of return on each of the four annuities Raina is considering. Given Raina's stated decision criterion, which annuity would you recommend?
The company is now worried that all of the hydraulic tubing that goes into the systems (making up 20% of their total costs) will be hit by the potential.
The coupon rate is stated as 3.75%. Company Delta issued its bonds at par (each $1,000 of bond was issued for $1,000) with a coupon rate of 4%. As an investor which company's bonds have the favorable yield?
What is the firm's free cash flow?
What initial salary would Han need to receive to make him indifferent between attending school A and staying in his current position?
Would it be possible for a company to report negative free cash flow and still be highly valued by investors; that is, could a negative free cash flow ever be a good thing in the eyes of investors? Explain your answer.
How long will it take to achieve payback on the initial $2,000,000 TQM investment, rounded to the nearest month?
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