Suppose a firm has 16.9 million shares of common stock outstanding and eight candidates are up for election to four seats on the board of directors. a. If the firm uses cumulative voting to elect its board, what is the minimum number of votes needed to ensure election to the board? b. If the firm uses straight voting to elect its board, what is the minimum number of votes needed to ensure election to the board? (For all requirements, enter your answers in whole numbers, not millions.)
Suppose a firm has 16.9 million shares of common stock outstanding and eight candidates are up for election to four seats on the board of directors. a. If the firm uses cumulative voting to elect its board, what is the minimum number of votes needed to ensure election to the board? b. If the firm uses straight voting to elect its board, what is the minimum number of votes needed to ensure election to the board? (For all requirements, enter your answers in whole numbers, not millions.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Suppose a firm has 16.9 million shares of common stock outstanding and eight candidates are up for election to four seats on the board of directors.
a. If the firm uses cumulative voting to elect its board, what is the minimum number of votes needed to ensure election to the board?
b. If the firm uses straight voting to elect its board, what is the minimum number of votes needed to ensure election to the board?
(For all requirements, enter your answers in whole numbers, not millions.)
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