We examine the conventional method of solving general annuity problems whereby a general annuity is converted into a simple annuity by imputing either an equivalent interest rate per the annuity's payment period or an equivalent payment per its conversion period. Both methods err when the...

Invoking them without modeling them is a cop-out (Myers 1984, p. 578).Myers is here referring to the theory that large capital adjustment costs might explain the observed wide variation in actual debt ratios. We can similarly criticize the static trade-off theory of capital structure as...

This paper demonstrates a simple way of deriving both the Capital Asset Pricing Model (CAPM) and a capital asset's beta value from the Capital Market Line (CML). The CML model is extended to include a series of isocorrelation curves along which the returns of any portfolio can be plotted...

This paper examines the nature and implementation of corporate responsibility (CR). It proposes that stakeholder engagement is a more complex process than is sometimes portrayed, but nevertheless provides a necessary and effective means of implementing CR