The Myth of the Earnings Yield Essay written by Sam Vaknin Sam Vaknin's Psychology, Philosophy, Economics and Foreign Affairs Web Sites A very slim minority of firms distribute dividends. This truism has revolutionary implications. In the absence of dividends, the foundation of most - if not all - of the financial theories we employ in order to determine the value of shares, is falsified. These theories rely on a few implicit and explicit assumptions: (a) That the (fundamental) "value"
different evidences of managers manipulating the earnings for various reasons. “Earnings management is the choice by a manager of accounting policies, or real actions, affecting earnings so as to achieve some specific reported earnings objective” (Scott, 2012, p. 423). Managers play an important role in the company because they have control over the accounting policies, thus, the managers can manipulate the income. There are different viewpoints about earnings management. Some people think it will protect
comparatively less notice: the steep and sustained decline since 1973 in the real (inflation-adjusted) earnings of young men and women generally. Even adjusting for demographic and socioeconomic characteristics, the labor market problems of young workers are disproportionately severe—they include higher than average unemployment and relatively low earnings when employed. This sustained drop in earnings has been especially dramatic for young adults with no postsecondary school education. Most proposed
healthy utility, so the company did its best to explain to investors why it had taken such an unusual step. Table 1. ----------------------------------------------------------------------------------------- Year Dividend Earnings Dividend Dividend Earnings Dividend Dividend per share per share payout ratio payout (%) per share payout payout (%) before ratio extraordi- nary items -----------------------------------------------------------------------------------------
enumerated in the U.S. Constitution. But I disagree with my earnings being given to dependent farmers, failing banks and poor people. Who has use-rights to my earnings is settled through threats, intimidation and violence. The U.S. Congress in essence tells me, "Williams, if you do not permit us to give your earnings to dependent farmers, banks, poor people, and any one else we deem worthy of your earnings, we will use violence to take your earnings and anything else you possess. Some readers might think
Introduction Earnings management is a popular project that studied by fields of both economy and accounting. Although the concept of earnings management is still controversial in the accounting fields, the basic purpose can be concluded from the two authority definitions by Scott (n.d.) and Schipper (n.d.). According to Scott (n.d.), a scholar of accounting in America, earnings management refers to the behaviors that allowed by GAAP standard, maximizing the self-interest of managers or the enterprise
would be the one to answer the questions and ease the shareholders’ mind. Ralph Hake, Chair and CEO of Maytag Corporation, made his speech and voiced two goals. These goals were to return the corporation to the historic earnings levels under Leonard Hadley and exceed those earnings. These goals would take the effort of everyone within the Maytag Corporation to make this possible. His speech spoke of problems that the company had encountered and was addressing. They were not going to let the company
sector has recently overtaken agriculture as the leading employer of Dominicans, agriculture remains the most important sector in terms of domestic consumption and is in second place in terms of export earnings. Tourism accounts for more than $1 billion in annual earnings. Free Trade Zone earnings and tourism are fasted-growing export sectors.” In the following essay I am going to write about how important is tourism and agriculture is for the Dominican Republic Economy. Agriculture has been the
bond was calculated semi-annually, therefore I multiplied the answer for I/Y times 2 to get 5.16%. The next step would be to calculate the preferred stock, however my stock had none. I then went to the third step of calculating cost of retained earnings. First I found the three growth rates which were historical, forecast, and sustainable growth. The historical and forecast annual rates I simply pulled directly from Value Line under Past 10 years and estimated years of the dividends. They both were
government began issuing Social Security identification cards to all citizens. Each card had a unique number that the government used to keep track of a person’s earnings and the taxes collected from those earnings that went to finance Social Security benefits. The Social Security Act is an act in which taxes would be deducted from workers earnings to finance both old age benefits and unemployment compensation. The government began collecting Social Security taxes in 1937 and putting them in a trust fund
to only half the population, which is simultaneously confined to working in the domestic sphere and prevented from participating in the public realm. Her theory says that Americans subscribe to a "sexuo-economic system" which reduces men to "mere earning mechanisms" and forces women to "become parasitic wives" (6, 4). As she explains, members of both sexes adhere to a system which forces them to succumb to specific gender roles, which in turn prevent them from becoming their true selves. Thus, every
could better prepare students for “the real world.” Having a job has many benefits. One of these benefits is obvious, earning an income. With an income comes responsibility. When a student becomes an adult, he or she has to learn to depend on their own income, and there is nothing they can do to prepare themselves for that except to begin to get a feel for the responsibilities earning an income brings. Students can gain experience by working through high school. This brings the opportunity to learn
Jones Industrial Average index is a good representation of the market average. If your returns (which you can learn how to calculate here) exceed the percentage return of the chosen benchmark, you have beaten the market - congrats! 2. A company's earnings, sales or some other valuation metric is superior to that of other companies in its industry. How do you know when this happens? Well, if a company beats the market by a large amount, the financial news sources are usually pretty good at telling
Despite women outnumbering men in U.S. colleges and the implementation of legislation like the 1963 Equal Pay Act the pay differences persist. According to some the pay gap persists because: • Men are more likely to pursue college majors and advanced degrees in fields that lead to higher-paying careers. • Women are getting graduate degrees, but not necessarily in fields that give the best salaries. • Discrimination remains a factor and it is difficult to document and measure. • Women on average are
work and determination. Earning a Master’s degree in Taxation will provide me with the tools I need to continue making the future better for my family and me. A merit scholarship would significantly help me as I earn my Master’s degree at the University of Denver. My education and career are very important to me. My goal is to complete my Masters of Taxation. Afterwards I plan to attain my Certified Public Accountant license and my Certified Fraud Examiner license. Earning these tow certifications
actresses face frequent rejections in auditions and long periods of unemployment; competition for roles is often intense. While formal training is helpful, experience and talent are more important for success in this field. Because of erratic employment, earnings for actresses are relatively low. Although most people associate actresses, directors, and producers with the screens of Hollywood or stages of Broadway, these workers are more likely to be found in a local theatre, television studio, circus, or
him at work anymore and no one showed Willy the respect he needed. Others looked down on him not realizing how exhausted he was trying to make a living just for his family. In reality, Willy would drive 700 miles to work and come home without even earning a cent. He had to borrow money from Charley just to provide food on the table so that he could provide a future for his sons. I think that Willy should've been acknowledged for that in itself but instead, his two sons never even took the time out
would be that he came from being a poor young boy in Scotland, to being one of the richest men in America years after he and his family immigrated to the United States of America. The next reason would be that he provided many of his workers high earnings of money as well as how he funded certain public places. The third reason for his title of a Captain of Industry is that he surrounded himself around the right people and worked very hard with his jobs, using very wise tactics to get his work done
own matchmaking abilities, then tries to make a match between her companion and Mr. Elton, who is a charming gentleman of an impetuous background. This reveals one of the themes in the story, which is social class prejudice. Although Mr. Martin’s earnings are quite respectable, Emma feels that because Harriet is a part of her life now, she should have the same opportunities and lifestyle as her own. Harriet can acquire this by marrying into a higher-class family. Emma’s determination and will to
first performers and audience, it is believed to have stemmed from the carnivals in Italy during the sixteenth century. Here it rose from the people from folk theatre, which used masks and music, and from the charlatans using pretence as a means of earning money. The scenarios involved in Commedia arose from the thematic concerns the form had. It was mainly concerned with examining the human condition via satire. Therfore, the canovaccios were filled with driving themes such as food, drink, sex,