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City Code |
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City CodeThe rules which govern the management and timing of takeover bids involving companies listed on the London Stock Exchange, written and enforced by the Panel on Takeover and Mergers.The objective of the City Code is to ensure that high standards of integrity and fairness are maintained, and that shareholders in both bidding and target company are treated equitably.The Panel is not concerned with the financial or commercial advantages or disadvantages of a takeover, nor is it concerned with competition issues.The City Code does not have the force of law, but, as the Code says 'those who seek to take advantage of the facilities of the securities markets in the United Kingdom should conduct themselves in matters relating to takeovers in accordance with best business standards and so in accordance with the Code'. It goes on to say that 'Those who do not so conduct themselves may find that, by way of sanction, the facilities of those markets are withheld.'Panel on Takeovers and MergersPO Box 226The Stock Exchange BuildingLondonEC2P 2JXTel: 020 7382 9026http://www.thetakeoverpanel.org.ukSimilar MatchesElasticity of substitutionElasticity of substitutionThe elasticity of the ratio of two inputs to a production (or utility) function with respect to the ratio of their marginal products (or utilities). With competitive demands, this is also the elasticity with respect to their price ratio. For example, with factors L,K and factor prices w,r, the elasticity of substitution of a production function F(K,L) is s = (wL/rK)d(K/L)/d(w/r). Import elasticityImport elasticityUsually means the import demand elasticity. VelocityVelocityThe number of times a dollar is spent, or turns over, in a specific period of time. Velocity affects the amount of economic activity generated by a given money supply. Constant elasticity of substitution functionConstant elasticity of substitution functionSee CES function The CityThe CityThe financial community in the City of London which traditionally operates out of 'the Square Mile' although increasingly the big securities houses and firms of accountants are basing themselves east of the City in Docklands. Further SuggestionsDemand elasticityElasticity of demand for exports incapacity benefit Factor scarcity Armington elasticity Reciprocity Import demand elasticity Price elasticity Specificity Scarcity rent Assimilative capacity Arc elasticity Debt capacity Cross elasticity Optimum capacity Elasticity of demand for imports City code on takeovers and mergers Supply elasticity Specificity rule Point elasticity Elasticity Kansas City Board of Trade (KCBT) Capacity building Income elasticity |
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