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Finance 01

Chapter 1 terms

business ethics A company's attitude and conduct toward its employees, customers, community, and stockholders.
corporate raider An individual who targets a corporation for takeover because it is undervalued
corporation A legal entity created by a state, separate and distinct from its owners and managers, having unlimited life, easy transferability of ownership, and limited liability.
equilibrium The situation in which the actual market price equals the intrinsic value, so investors are indifferent between buying or selling a stock.
hostile takeover The acquisition of a company over the opposition of its management.
intrinsic value An estimate of a stock's "true" value based on accurate risk and return data. The intrinsic value can be estimated but not measured precisely.
Limited Liability Company (LLC) A relatively new type of organization that is a hybrid between a partnership and a corporation
Limited Liability Partnership (LLP) like partnerships.
marginal investor An investor whose views determine the actual stock price.
market price The stock value based on perceived but possibly incorrect information as seen by the marginal investor.
partnership An unincorporated business owned by two or more persons.
propietorship An unincorporated business owned by one individual.
S corporation A small corporation that, under Subchapter S of the Internal Revenue Code, elects to be taxed as a proprietorship or a partnership, rather than a corporation, yet retains limited liability and other benefits of the corporate form of organization.
Sarbannes-Oxley Act A law passed by Congress that requires the CEO and CFO to certify that their firm's financial statements are accurate.
Shareholder Wealth Maximization The primary goal for managers of publicly owned companies implies that decisions should be made to maximize the long-run value of the firm's common stock.
Created by: kgaither