Financial Management for Decision Makers by Peter Atrill, Paul Hurley

By Peter Atrill, Paul Hurley

Adopting an leading edge, open-learning method of introduce the most ideas of monetary administration in an obtainable, non-technical approach, this absolutely up-to-date 7th version presents a different specialize in the sensible software of monetary administration and its position in determination making.

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It is difficult to see, however, how this kind of behaviour is consistent with the objective of maximising shareholder wealth. As mentioned earlier, shareholder wealth maximisation is a long-term goal and the sort of behaviour described will only undermine the achievement of this goal. A further criticism is that, by making shareholders the dominant group, other stakeholders will feel like second-class citizens and will not become fully engaged with the business. Shareholder wealth maximisation cannot be achieved if other stakeholders are unhappy with their lot.

Uk, accessed 29 January 2013. Meetings between financial institutions and the managers of investee companies can be a useful mechanism for exchanging views and for gaining a greater understanding of the needs and motivations of each party. This may help to pre-empt public arguments between the board of directors and financial institutions, which is rarely the best way to resolve issues. The final form of activism involves intervention in the affairs of the business. This can be very costly, however, depending on the nature of the problem.

For shareholders, and therefore owners, of a business, anything that might have an impact on their wealth should be a matter of concern. This form of activism requires a fairly high degree of involvement with the business and some of the larger financial institutions have dedicated teams for this purpose. Therefore, this can be a costly exercise. 11 reveals the approach taken by one major financial institution. 11 Getting active Fidelity (FIL Ltd) is one of the UK’s largest investment fund managers.

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