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Management Discussion & Analysis: Its Genesis and Importance?

Management Discussion and Analysis or MDNA as it is popularly called is a relatively new addition to the corporate annual reports, making its debut only in the 1970s. Despite its recent entry, MDNA has a key role in corporate communications, especially for its value to indicate future trends of financial performance by sharing the [...]

By | 2019-05-06T12:30:04+00:00 May 6th, 2019|First of First|0 Comments

Directors’ Report: What was the trigger and When?

Corporate Annual Reports these days are incomplete without the Directors report. For most operational companies the Annual Report run into dozens of pages and for the listed companies, it exceeds a hundred pages. The content in an annual report can be bifurcated into mandatory and voluntary disclosures; further, mandatory disclosures have three key components – [...]

By | 2019-04-05T14:17:54+00:00 April 5th, 2019|First of First|0 Comments

Sustainability Reports: What was the trigger and When?

One who pays the piper calls the tune. More so in the corporate world, where investors rule the roost. It is no different with sustainability reporting, where the investors call the shots. Starting with ethical investing in the initial stages, to ESG (Environmental, Social and Governance) investments in the later stages, sustainability reporting assumed [...]

By | 2019-03-26T15:57:19+00:00 March 5th, 2019|First of First|0 Comments

ESOP: What was the trigger and When?

Today’s Midas touch? Ask the select Flipkart and Infosys employees, they will tell you without any hesitation that it is ESOPs. In May 2018, over a hundred Flipkart employees turned dollar millionaires as the company was bought over by Walmart. A few decades earlier, Infosys the IT Services company created thousands of rupee millionaires [...]

By | 2019-02-06T11:44:13+00:00 February 5th, 2019|First of First|0 Comments

Buy-back of Shares: What was the trigger?

Buy-back of shares is an accepted practice in the corporate word today, a concept so wide-spread that in the calendar year 2018, the volume of buy-back by the US corporates is estimated at around $1 trillion. However, buy-back of shares is a recently introduced concept with the US taking the lead in the second [...]

By | 2019-01-04T12:54:49+00:00 January 4th, 2019|First of First|0 Comments

The Four Stages of Evolution in Equity Share Valuation: 4.Valuation of Loss-making entities with Potential -The Concept, Trigger & Limitations

A key ingredient that ensured the growing success of companies is the evolution in valuation of shares that permitted shareholders to sell and investors to buy shares without diluting any of the economic advantages of ownership. The evolution of share valuation is episodic, marked by stock market bubbles and often a major scandal that [...]

By | 2018-12-06T12:04:52+00:00 December 5th, 2018|First of First|0 Comments

The Four Stages of Evolution in Equity Share Valuation: 3.Price Earnings Multiple Method- The Concept, Trigger and Limitations

A key ingredient that ensured the growing success of companies is the evolution in valuation of shares that permitted shareholders to sell and investors to buy shares without diluting any of the economic advantages of ownership. The evolution of share valuation is episodic, marked by stock market bubbles and often a major scandal that [...]

By | 2018-12-06T12:03:46+00:00 November 5th, 2018|First of First|0 Comments

The Four Stages of Evolution in Equity Share Valuation: 2.Book Value Method- The Concept, Trigger and Limitations

Large businesses and business intending to be large are organized as companies for they provide the triple advantage of ‘Existence at will’ for they survive till their shareholders decide to dissolve them Limited liability enabling many unrelated investors to collaborate, and Transferable shares, providing liquidity to their shareholders without impairing the liquidity of the [...]

By | 2018-12-06T12:18:36+00:00 October 5th, 2018|First of First|0 Comments

The Four Stages of Evolution in Equity Share Valuation: 1.Dividend Capitalization Method-The Concept, Trigger and Limitations

Large businesses and business intending to be large are organized as companies for they provide the triple advantage of ‘Existence at will’ for they survive till their shareholders decide to dissolve them Limited liability enabling many unrelated investors to collaborate, and Transferable shares, providing liquidity to their shareholders without impairing the liquidity of the [...]

By | 2018-12-06T12:33:35+00:00 September 5th, 2018|First of First|0 Comments

Birth of EPS (Earnings Per Share): Brevity is the Essence of Effective Communication

‘A cow for her milk, A hen for her eggs, A stock, by heck, For her dividends.’ As the popular poem of 1930s captured, dividend is what attracted the investors to stocks. But with time as companies retained a bigger and larger share of profits for their internal growth, with some companies even skipping [...]

By | 2018-12-06T16:19:00+00:00 August 5th, 2018|First of First|0 Comments
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