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… believe that digital companies enjoy tax levels close to zero compared to traditional companies, yet they earn huge profits. The underlying principle of corporate taxation is that \"profit should be taxed where value is created\" (Sestakova, 2018). However, digitalization challenges this principle because of it difficult to ……
References
Committee of Experts on International Cooperation in Tax Matters. (2019). Tax Issues related to the Digitalization of the Economy: Report (E/C.18/2019/CRP.12). https://www.un.org/esa/ffd/wp-content/uploads/2019/04/18STM_CRP12-Work-on-taxation-issues-digitalization.pdf
Katz, R. (2015). THE IMPACT OF TAXATION ON THE DIGITAL ECONOMY. https://www.itu.int/en/ITU-D/Conferences/GSR/Documents/GSR2015/Discussion_papers_and_Presentations/GSR16_Discussion-Paper_Taxation_Latest_web.pdf
Pemerathna, A. (2016). Economic impact of digital taxation: A case on information communication technology industry Sri Lanka. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.2910328
Sand-Zantman, W. (2018). Taxation in the Digital Economy. https://www.orange.com/fr/content/download/47110/1371114/version/1/file/Rapport%20TAXATION-VF-Mai2018.pdf
Sestakova, M. (2018, February). Tax Challenges of the Digital Economy [Paper presentation]. Management Challenges in the 21st Century, Bratislava, Slovakia.
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… the basis for valuation models around the world. They are used in almost every industry, country, and geography. Interest rates can also influence corporate and consumer behaviors. For example, depending on the inherent risk of a consumer, credit card rates determine how much an individual must pay … banks. Initial Public Offerings, Secondary Stock Offerings, Bond offerings and so forth help to facilitate these transactions. Likewise, those looking to borrower to finance a home purchase or a car purchase may need additional funds that they otherwise may not have now. As a financial intermediary, banks … Sterns, a very honored and established investment bank went bankrupt partly because of its inability to adhere to these principles. Here the bank finance itself through deposits, commercial paper and treasury bills. Although each has a very low interest rate, they are needed immediately (See chart 1 ……
References
1. Goodhard, C and E Perotti, 2008 “Maturity mismatch stretching: Banking has taken a wrong turn”, CEPR Policy Insight 81, 6-July
2. Holston, Laubach, and Williams. 2017. “Measuring the Natural Rate of Interest: International Trends and Determinants,” Journal of International Economics 108, supplement 1 (May): S39–S75
3. Laubach and Williams. 2003. “Measuring the Natural Rate of Interest,” Review of Economics and Statistics 85, no.4 (November): 1063-70.
4. Rachel, L. and Smith, T.D., 2017. Are low real interest rates here to stay?. International Journal of Central Banking, 13(3), pp.1-42.
5. Schularick, M, and A M Taylor, (2009), “Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008”, NBER DP 15512
6. Stock, J.H. and Watson, M.W., 2007. Why has US inflation become harder to forecast?. Journal of Money, Credit and banking, 39, pp.3-33
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… At the same time, zombie companies emerge, created by low interest rates which incentivize over-leveraging. Stocks hit all-time highs at the same time corporate debt does too. If rates go back up, investors will flee the market and the whole scheme collapses—which is why Trump bemoans any ……
References
BBC. (2019). US economy under Trump: Is it the greatest in history? Retrieved from https://www.bbc.com/news/world-45827430
Bernstein, J. (2019). A tight job market is a potent force against inequality and wage stagnation. Retrieved from https://www.washingtonpost.com/outlook/2019/02/01/tight-job-market-is-potent-force-against-inequality-wage-stagnation/?utm_term=.0a531cf24efb
Cox, J. (2019). Private payroll growth tops estimates as job market shows signs of tightening. Retrieved from https://www.cnbc.com/2019/07/31/private-payrolls-up-156k-in-july-vs-150k-est-adpmoodys.html
Harwood, J. (2019). 5 reasons why income inequality has become a major political issue. Retrieved from https://www.cnbc.com/2019/06/05/5-reasons-income-inequality-has-become-a-major-political-issue.html
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...Corporate finance Introduction
Agency theory is a theory explicating the relationship between the shareholders, who act as the principals, and the managers, who act as the agents. Within this relationship, the principal either employs or delegates an agent to carry out work and take actions in the best interests of the principal (Scott and O’Brien, 2003).
Imperatively, when the decision-making power and authority is delegated to another party, this can result in a loss of efficiency and subsequently increased costs. For instance, if the owner of a company partakes in the delegating of decision-making power to a manager, the agent in this case, it is conceivable that the manager will not work or operate as hard and with determination as the owner would, bearing in mind that the manager does not have any direct shares in the financial results of the company (Tearney and Dodd, 2009).
As a result, this could give……
References
Ballwieser, W., Bamberg, G., Beckmann, M. J., Bester, H., Blickle, M., Ewert, R., ... & Gaynor, M. (2012). Agency theory, information, and incentives. Springer Science & Business Media.
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Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of management review, 14(1), 57-74.
Healy, P. M. (2005). Financial Reporting Problems at Molex, Inc.(A). Harvard Business School.
Larcker, D. F., & Tayan, B. (2007). Executive Compensation at Nabors Industries: Too Much, Too Little, or Just Right?. Rock Center for Corporate Governance at Stanford University Case Teaching No. CG-05.
Mitnick, B. M. (2015). Agency theory. Wiley encyclopedia of management, 1-6.
Scott, W. R., & O\\\\\\'Brien, P. C. (2003). Financial accounting theory (Vol. 3). Toronto: Prentice Hall.
Tearney, M. G., & Dodd, J. (2009). Accounting theory. H. I. Wolk (Ed.). New York: Sage.
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… students come out of college deeply in debt and find that bartending or waitressing is a better option than taking a job in corporate America where there is no job security and few benefits, the true estimate of the skills they have learned at university may be ……
References
Amadeo, K. (2019). Unemployment rate by year since 1929 compared to inflation and GDP. Retrieved from https://www.thebalance.com/unemployment-rate-by-year-3305506
FRED. (2019). FRED Graph. Retrieved from https://fred.stlouisfed.org/series/LNU04000024#0
Friedman, M. (1977). Nobel lecture: inflation and unemployment. Journal of political economy, 85(3), 451-472.
Heller, R. (2017). Monetary mischief and the debt trap. Cato Journal, 37(2), 247-261.
Lucas, R. E., & Rapping, L. A. (1969). Price expectations and the Phillips curve. The American Economic Review, 59(3), 342-350.
Stiglitz, J. (1997). Reflections on the natural rate hypothesis. Journal of Economic Perspectives, 11(1), 3-10.
Wulwick, N. J. (1987). The Phillips curve: which? whose? to do what? how?. Southern Economic Journal, 834-857.
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… e-commerce retailers such as Amazon (Chan, 2011). Against this backdrop, it is clear that Best Buy is at a critical juncture in its corporate history going forward and it is equally clear that the company must implement and sustain purchasing and supply management strategies that contribute to … helped the company remain competitive during an especially perilous period in history for traditional retailers, but Best Buy has not rested on these corporate laurels alone as discussed further below.
How does Best Buy improve their quality and reputation to remain competitive?
As noted above, the company … using outside resources when it believes it is in their best interests, but Best Buy has also has a formal commitment to its corporate social responsibilities as well. In this regard, the company’s statement on corporate responsibility and sustainability emphasizes that: “At Best Buy, we aim to positively impact the world, enrich people’s……
References
Chan, R. (2011, June 29). Best Buy. Marketing, 20.
Corporate responsibility and sustainability. (2019). Best Buy Co., Inc. Retrieved from https://corporate.bestbuy.com/sustainability/ .
Best Buy supply chain. (2019). Best Buy Co., Inc. Retrieved from https://www.bestbuy. com/site/help-topics/ca-transparency-act/pcmcat263000050003.c?id=pcmcat 263000050003.
Company profile. (2019). Yahoo! Finance. Retrieved from https://finance.yahoo.com/quote/ BBY/profile?p=BBY.
Mitchell, S. (2009, September-October). The big box swindle: The true cost of the mega-retailers. Multinational Monitor, 27(5), 34-39.
Ong, T. (2018, May 1). Best Buy is closing all 250 of its mobile stores in the U.S. The Verge. Retrieved from https://www.theverge.com/2018/3/1/17066232/best-buy-close-all-mobile-stores-may-us .
Thomas, L. (2019, August 28). Best Buy revs up supply chain ahead of the holiday season. CNBC. Retrieved from https://www.cnbc.com/2019/08/28/best-buy-revs-up-supply-chain-ahead-of-the-holiday-season.html .
Wack, K. (2017, June 29). Credit card issuers face peril from rise in store closures: American Banker, 182(124), 37-39.
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… will take care of itself. The problem is that times have changed since Friedman made that statement. When Friedman argued for shareholder theory, corporate share buybacks were still illegal. It was not until 1982 that the rule regarding public companies buying back their own shares on the … and Exchange Commission (SEC) (Reda, 2018). That is significant because Friedman qualified his statement with the words “without deception or fraud.” The reason corporate share buybacks were illegal prior to 1982 was precisely because it was viewed as a form of market manipulation—corporations propping up the share … rake in the millions of dollars that they are potentially sitting on in terms of shares and stock options, they have to authorize corporate share buybacks so that they too can unload their shares and make money. They are shareholders, too, after all, and maximizing shareholder value … market manipulation—only now it is……
References
Augustine. (n.d.). Commentaries on Sermon on the Mount. http://www.newadvent.org/fathers/16011.htm
Chen, J. (2019). Market Milestones as the Bull Market Turns 10. Retrieved from https://www.investopedia.com/market-milestones-as-the-bull-market-turns-10-4588903
Egan, M. (2018). Tax cut triggers $437 billion explosion of stock buybacks. Retrieved from https://money.cnn.com/2018/07/10/investing/stock-buybacks-record-tax-cuts/index.html " target="_blank" REL="NOFOLLOW">
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… 2010). However, the downfall of Eisner has been precipitated by a number of political factors thitherto his removal. One of these forces is corporate social and political bureaucracy. This factor emanated from his desire to accumulate personal power rather than that of the Disney as a company. … his power. All the departments of the company were disoriented and confused, and more so, the should-be-autonomous departments of the company, e.g., the finance…[break]…his continuation. These differences are not only on the matter of Eisner’s tenure but also on the company’s management style. These enduring differences continue, … by Forbes and Watson (2010), is a destructive form of leadership that is characterized by loyalty biases in the Board in which the corporate governance system is unable to reign in on damaging leadership. The toxic triable is made up of the destructive leader, weak owners or ……
References
Bolman, L. G., & Deal, T. E. (2017). Reframing organizations: Artistry, choice, and leadership. John Wiley & Sons.
Bright, R., & Eisner, M. (1987). Disneyland: Inside Story. Harry N. Abrams, Incorporated, Publishers.
Downes, M., Russ, G. S., & Ryan, P. A. (2007). Michael Eisner and His Reign at Disney. Journal of the International Academy for Case Studies, 13(3), 71-81.
Forbes, W., & Watson, R. (2010, July). Destructive Corporate Leadership and Board Loyalty Bias: A case study of Michael Eisner’s long tenure at Disney Corporation. In Working Paper presented at the Behavioural Finance Working Group Conference, Cass Business School.
Sasnett, B., & Ross, T. (2007). Leadership frames and perceptions of effectiveness among health information management program directors. Perspectives in health information management/AHIMA, American Health Information Management Association, 4.
van Weezel, A. (2006). A Behavioural Approach to Leadership: The case of Michael Eisner and Disney. In Leadership in the Media Industry: Changing Contexts, Emerging Challenges (pp. 169–178). Jönköping: Media Management and Transformation Centre, Jönköping International Business School.
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… have affected the industry and it is imperative that competitors in the business keep up with such changes in consumer behavior.
The current corporate level strategy is a bit muddy. While the chain originally focused on quality,…[break]…quality, with a differentiated offering in the market. Pizza is a … in highly competitive, mature industries can easily fail, should they lose their way strategically. The company’s brand has taken a beating and its finance are a mess. Without clear and focused action, Papa John’s will be hard-pressed to thrive going forward. However, if the company has learned … of crisis, and take dramatic action to strongly counter any problems that the company has. If it can apply that approach to its corporate strategy,……
References
Halzack, S. (2018) Papa John’s just went from bad to worse. BNN Bloomberg. Retrieved April 7, 2019 from https://www.bnnbloomberg.com/papa-john-s-just-went-from-bad-to-worse-1.1120265
IBIS World (2019) Pizza restaurants industry in the US. IBIS World. Retrieved April 7, 2019 from https://www.ibisworld.com/industry-trends/specialized-market-research-reports/consumer-goods-services/food-service-drinking-places/pizza-restaurants.html
Kenton, W. (2019) Porter’s 5 forces. Investopedia. Retrieved April 7, 2019 from https://www.investopedia.com/terms/p/porter.asp
McCormick, M. (2018) Key success factors in a pizza business. Houston Chronicle. Retrieved April 7, 2019 from https://smallbusiness.chron.com/key-success-factors-pizza-business-2788.html
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Papa John’s Form 10-K 2018. Retrieved April 7, 2019 from https://ir.papajohns.com/static-files/2977c391-0218-4bac-8eb2-dcabd4561cfe
Papa John’s website, various pages. (2019) Retrieved April 7, 2019 from https://www.papajohns.com/company/about-papa-johns.html
QSR (2018) The QSR Top 50. QSR Magazine. Retrieved April 7, 2019 from https://www.qsrmagazine.com/content/qsr50-2018-top-50-chart
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… and undermine the potential of a company to reinvest in itself and in its future. If directors have a responsibility in terms of corporate governance and transformative leadership to look out for the best interests of all stakeholders, can it be considered morally feasible for companies to ……
References
Bendix, R. (1974). Inequality and social structure: a comparison of Marx and Weber. American Sociological Review, 149-161.
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Durkheim, E. (1997). The Division of Labor in Society. NY: The Free Press.
Egan, M. (2018). Tax cut triggers $437 billion explosion of stock buybacks. Retrieved from https://money.cnn.com/2018/07/10/investing/stock-buybacks-record-tax-cuts/index.html " target="_blank" REL="NOFOLLOW">
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