McDonald's

Paper Summary:

The paper provides an introduction to the McDonald's company and examines McDonald's shares, equity ratio, shareholders, dividend policy debt-to-equity ratio and the company's amount of debt. The paper includes tables and a graph as an appendix to the paper.

Outline:
Introduction
Capital Structure

From the Paper:

"McDonald's is the world's most famous fast-food chain. It operates and franchises McDonald'srestaurants, which offer various items of fast-food, soft drinks and other beverages. Approximately 70% of McDonald's restaurants are operated by independent franchisors. The number of restaurants in the U.S. has reached saturation and most new McDonald's are now being opened in Europe, Middle East and Asia.
"As of August 2007, McDonald's operated approximately 31.045 restaurants in 118 countries. The company itself employs around 465.000 full-time workers. McDonald's also owns Boston Market restaurant chain and moreover has a minority interest in the Pret-A-Manger, an English coffee and sandwich shop."

Sample of Sources Used:

• McDonald's Annual Report(http://www.mcdonalds.com/corp/invest/pub/annual_rpt_archives.html)
• Yahoo Finance (finance.yahoo.com)
• EK Financial Policy Slides (Winter Term 2007/08)
• VK Financial Policy slides (Summer Term 2008)
• Miller, Rock, "Dividend Policy Under Asymmetric Information", JFE, 1985, pp. 1031 - 1051

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• Essay # 69973 : "GLOBAL ISSUES AND MANAGING CHANGE AT MCDONALD'S"

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