When working with people from other cultures, which of the following will help ensure proper etiquette in social settings?
A) Don't shake hands unless invited to
B) Introduce yourself with a humorous comment
C) Explain your role in the organization
D) Learn about the customs of the other cultures
E) Invite the group to dinner and cocktails to learn more about each other
D
Explanation: D) Get to know the customs of other cultures when it comes to meeting new people. For example, in North America, a firm handshake is expected when two people meet, whereas a respectful bow of the head is more appropriate in Japan.
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a. true b. false
The average asset beta for the pure players in this industry, Relevant, ABJ, and Opus, weighted by market value of equity is closest to:
Boris Duarte, CFA, covers initial public offerings for Zellweger Analytics, an independent research firm specializing in global small-cap equities. He has been asked to evaluate the upcoming new issue of TagOn, a U.S.-based business intelligence software company. The industry has grown at 26 percent per year for the previous three years. Large companies dominate the market, but sizable “pure-play” companies such as Relevant, Ltd., ABJ, Inc., and Opus Software Pvt. Ltd also compete. Each of these competitors is domiciled in a different country, but they all have shares of stock that trade on the U.S. NASDAQ. The debt ratio of the industry has risen slightly in recent years. Company Sales (in millions) Market Value Equity (in millions) Market Value Debt (in millions) Equity Beta Tax Rate Share Price Relevant Ltd. $752 $3,800 $0.0 1.702 23% $42 ABJ, Inc. $843 $2,150 $6.5 2.800 23% $24 Opus Software Pvt. Ltd. $211 $972 $13.0 3.400 23% $13 Duarte uses the information from the preliminary prospectus for TagOn’s initial offering. The company intends to issue 1 million new shares. In his conversation with the investment bankers for the deal, he concludes the offering price will be between $7 and $12. The current capital structure of TagOn consists of a $2.4 million five-year noncallable bond issue and 1 million common shares. Other information that Duarte has gathered: Currently outstanding bonds $2.4 million five-year bonds, coupon of 12.5 percent, with a market value of $2.156 million Risk-free rate of interest 5.25% Estimated equity risk premium 7% Tax rate 23% A. 1.67. B. 1.97. C. 2.27.