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The book investigates empirically mechanisms behind the recent widespread use of employee stock options and share repurchases in corporate financial management. Exploring through econometric models a sample of large U.S. technology corporations in the period between 1997 and 2005, it documents complex links between stock option plans, payout policy and other key financial characteristics of these firms. The models highlight the interplay between the interests of long-term shareholders, optionholders and speculative investors and provide estimates of joint effects of option dynamics and repurchases on stock returns, undervaluation and option plans on payout policy as well as risk taking and revenue growth on payoffs to shareholders and optionholders.
Author Ludwig von Mises was concerned with the spread of socialist ideals and the increasing bureaucratization of economic life. While he does not deny the necessity of certain bureaucratic structures for the smooth operation of any civilized state, he disagrees with the extent to which it has come to dominate the public life of European countries and the United States. The author's purpose is to demonstrate that the negative aspects of bureaucracy are not so much a result of bad policies or corruption as the public tends to think but are the bureaucratic structures due to the very tasks these structures have to deal with. The main body of the book is therefore devoted to a comparison between private enterprise on the one hand and bureaucratic agencies/public enterprise on the other.
With humorous stories and insights, an author and marketing guru offers life lessons for achieving success and happiness. In the simple, straightforward tone of an instructional manual, this little book offers big wisdom and little-known secrets for living a better life. Packed with life lessons most people will wish they'd learned earlier, Life’s Missing Instruction Manual presents practical steps readers can use to take control of their lives, overcome any obstacle, and find fulfillment. Each simple lesson is brought into focus with real-life examples and includes practical steps for putting those lessons to work every day. Full of uncommon knowledge and lighthearted humor, this book wil...