Cost of Capital Dissertation Example | Topics and Well Written Essays - 9500 words

Cost of Capital - Dissertation Example Cost of capital is the minimum returns that a company can give shareholders on their investments and accordingly the company has to earn the minimum returns. If merging happens between one company that has high cash flows and another company that has low internally generated cash flows, then such merger can reduce the cost of capital. Introduction In today’s economic world, mergers and acquisitions (M & A) have become common strategy for growth and diversification of companies. During the 1990s, M & A activities broke all previous records both in terms of the number of such transactions and also the size of the mergers or acquisitions. In the early 2000s, there were major setbacks in the economies all over the world with global recession setting in. This resulted in drop of M & As worldwide although the volume still remains at a high level (Stahl & Voigt, 2003, p.2). The terms mergers and acquisitions involve a large number of transactions. Mergers can be of different forms li ke one firm can take over a different firm resulting in both the firms ceasing to exist individually to create a new firm. The principle purposes of merger of two companies are to strengthen their hold in the market and also to earn a competitive advantage in the industry. There are five common types of mergers. ... This type of merger is done to reduce the manufacturing cost and to acquire a larger share of the market. For instance, merger between Coca-Cola and Pepsi will be a horizontal merger and will allow both companies to acquire large share of the soft drink market. The third type of merger is market extension merger. This happens between two firms dealing with similar products but in different markets. The goal is to capture greater portion of the market. For instance, acquisition of Eagle Bancshares Inc by the RBC Centura has allowed RBC to extend its operations in the North American market. The fourth kind of merger is vertical merger which occurs between two firms that manufacture different types of products, but the products are manufactured for the purpose of common finished products. Vertical merger is done between firms in different stages of the industry’s supply chain to increase efficiency of their production process. For instance, vertical merger can take place between an automobile manufacturing firm and its supplier firm. The fifth and final kind of merger is production extension merger which takes place between firms manufacturing associated products in the same market. One example is the acquisition of Mobilink Telecom Inc. by Broadcom. Here it is expected that the products of the two firms will compliment each other (5 types of Company Mergers, 2013; Vadapalli, 2007, p.1). The processes involved in mergers and acquisitions are complicated and needs a complex web of preparations. Series of negotiations are needed along with due diligence which means the buyer company needs to be aware of any obstacles that may arise because of the merger. Activities also include

Music, Performance and Authenticity in Films Essay

Music, Performance and Authenticity in Films - Essay Example In addition, rock film performance has been encrypted from Quadrophenia, the album of the group The Who, to the film bearing the same name as the album. This transformation of recorded audio music pieces into films did not bring any disparaging change in the rock culture; rather, it boosted and made rock performance more livelier and entertaining, attracting more and more enthusiasts. Initially, rock artists recorded music without the inclusion of videos and other display features that would make it more appealing. While rock music performance concentrates on the rock culture promotion through recording the audio pieces, the film performance is greatly involved in the use of visuals to promote the same culture. This paper will critically compare and contrast the differences and similarities in the music, the authenticity, and self-conscious film performances of Pink Floyd and The Who. Pink Floyd – The wall The film Pink Floyd-The Wall was adapted from the album The Wall. The w riter of the film utilized the music lyrics to convey different themes as represented in the original songs. Some of these include the theme of isolation, cruelty, insanity, fascism, and hard mentality as fashioned by the wall. Notably, throughout the film, there is an expression of a sad and brutal mood of the music as depicted by the author’s feelings in his school day poems. ... While music metaphorically illustrates this social alienation, the film projects the character into the real emotional situation (Kaarki 2002, p. 184). There is an illustration of severe emotional suffering that revolves in the abyss of loss and isolation resulting from fatherless childhood (due to his father death in the British war) and the domineering, overprotective, and phobia-filled love of his mother. As noted, Pink built a mental wall that could allow him to live a life free of the emotional troubles caused by the failing education system which concentrated on producing societal compliant sycophants, by police brutality, estranged marriage, and uncontrollable drug abuse (Pink Floyd 1982). Remarkably, not only does the film performance demonstrate the ability of the writer to describe the moods of the song but also evokes the emotions of the film viewers. Through the evaluation of the harmony of the film performance, viewers are able to observe the relevance of the musical per formance which develops and maintains the psychological wall built by Pink to run away from his pains. Significantly, the film performance brings out a better understanding of the music themes with an illustrative depiction of the continuous piling of problems as one runs away from their effects rather than finding solutions. In the film, the author excellently matches the themes present in the music with the film performance, giving insightful, enigmatic, and arresting images. Factually, critics have been of the view that the lifestyle as described in the song perfectly suits the film performance with its spectacular ability to conjure captivating and memorable images that elicit lingering and