Utyalo-mali Isifundo 3 - Ukuhlalutya iShidi lokuBhalisa
Yintoni eyenzekayo kwiNtengo yokuThengwa
Xa inkampani ithenga i-stock yayo inokhetho.
Ingaba i-1.) zihlala kwizabelo ezifunyenwe kwakhona, ezinokubathengisa ebantwini ukuphakamisa imali okanye ukuzisebenzisa ekuthengeni ukuthenga abathengelwano okanye amanye amabhizinisi, okanye unako ukukhangela ii-share) ukuba isabelo sobonke sisigxina kuncitshiswe, kubangela ukuba isabelo ngasinye esele sibhekiselele kwipesenti enkulu yobunini kwiqumrhu, kubandakanywa ukugawulwa okukhulu kwezabelo kunye nenzuzo njengoko kubalwe yi- EPS ebalulekileyo kunye neyohlanjululwayo .
Okulungileyo Nezinto Ezimbi Zokuthengwa Kwamasabelo
Akukho nkqubo yesalathiso ekhankanywe apha ngasentla iyona ingcono kunomnye njengoko kuxhomekeke ngokupheleleyo kwizakhono zokwabiwa kwemali. Ngokomlando, ishishini elifana neTeledyne ezandleni zikaHenry Singleton lisebenzisa i-Treasury Stock njengenkosi, okwandisa ixabiso langaphakathi kubanikazi bexesha elide abambelele kwishishini. U-Singleton wathenga i-stock hand-over-fist xa izabelo zenkampani yakhe zingabizi kwaye zanikhipha njengemali ebaluleke kakhulu xa ifunyenwe kakhulu, ifumana izandla kwizinto ezininzi ezivelisayo.
Kwezinye iimeko, i-Stock Treasury ibhubhise ixabiso elininzi njengoko iinkampani zihlawula kakhulu kwizabelo zawo okanye zikhupha izabelo ukuba zihlawule ukufunyanwa xa ezo zabelo zingabalulekanga. Kule ngongoma, nangona ingahambelani ngokupheleleyo kwiStock Treasury, enye yemizekelo edumileyo ekuphumeni kweMelika kwiminyaka yakutshanje yayiyintsebenziswano apho inkampani yaseKraft, eyayiphunyelelwa nguFilip Morris, ifumene iCadbury, ikhupha isitokethi esingabikho ukuhlawula ukuthenga okugqithisiweyo.
Inkampani ephethe iWarren Buffett, uBerkshire Hathaway, enegunya elikhulu eKraft naseBuffett, wayenelisekile kakhulu ngolu hlobo, waqhekeza i-avuncular persona kwaye wayigxeka "njengentlonelo", ukuvota kwi-CEO ye-CEO Irene Rosenfeld ukwakha ubukhosi kunye ukugweba ithelevishini kunye nokubhala. (UBuffett wazinikela ekugqibeleni, nangona kunjalo.) Kraft wahlukana ngokweenkampani ezimbini, wazibiza ngokuthi iMeleelez International kunye neKraft Foods Group.
U-Rosenfeld wahamba kunye nabangaphambili ngelixa ikhefu lishiywe ngeemveliso ezinobuncwane kodwa ezikhula ngokukhawuleza ezifana nekhofi ye-Maxwell House kunye ne-Jell-O pudding. UBuffett kunye neqela lokuthenga asebenze ukuyithengisa u-HJ Heinz wagqiba ukwenza ibhanti yeQelaft Foods Group, ukudibanisa noHeinz ukudala i-Kraft Heinz Inkampani. I-Berkshire Hathaway ngoku ikhona malunga ne-25% yayo kwaye ngokungaqhelekanga enye yezona zinto zibalulekileyo zokupakishwa kokutya kwihlabathi.)
Imizekelo yeThengi leNondye kwiLizwe leNene
Ngaphandle kweencwadi zezifundo nakwihlabathi langempela, enye yezona zibonelo ezinkulu kakhulu oza kuzibona kwiSitoreji seSondye kwi-balance sheet yi-Exxon Mobil, enye yezona zimbalwa zeoli ehlabathini kunye nenzala yokuqala ye-Standard Oil John D. Rockefeller bukhosi.
Ngomhla wokugqibela wonyaka odlulileyo, ngo-2015, ibanjwe i-$ 229,734,000 kwi-Treasury Stock kwiincwadi; idoli yekota-ye-trillion kwi-stock ethengiweyo ayizange ikhanse.
Kungenxa yokuba i-Exxon Mobil inomgaqo wokubuyisela imali eyongezelelweyo yokuhamba kwemali kubanikazi ngokusebenzisa umxube wezahlulo kunye nokuthengwa kwamashishini emva kokuhlala kwisitokethi ngezicwangciso zokuyisebenzisa, kwakhona, ngolunye usuku. Enyanisweni, yonke iminyaka elishumi okanye amabini, inomdla wokuthenga inkampani enkulu yamandla, ukuhlawula ukuthengisana nesitokisi, ukuhlawulela abanikazi ngokuhlaziya ezo zizabelo, besebenzisa ukuhamba kwemali ukuthenga eso sithuthi emva, ukulungisa ukuhlengahlengiswa.
Kukuphumelela wonk 'ubani obandakanyekayo kuba abanini beenjongo zokufumana imali abafuna ukuhlala batyalomali akufanele bahlawule irhafu yentlawulo yokuzuza, xa abanikazi be-Exxon Mobil baphela ngokulinganayo kwezoqoqosho ngokulinganayo. ukuthengiswa kwemali, ubunini bebunikazi babuyiselwe emva kwexesha njengoko i-oil kunye negesi yendalo yegesi isebenzisa ukuhamba kwemali kwimimandla yayo esele isungulwe kwaye isanda kuzuza ukuvuselela isikhundla seSitoreji seSitoreji.
Ikusasa leMpahla yeNondyebo
Ngexesha ngamaxesha, kukho intetho kwiinkalo ezithile zoshishino lokuphendula ukuba ingaba ingaba yinto efanelekileyo ukutshintsha imigaqo yendlela iNgcaciso yeMpahla eqhutyelwa ngayo kwi-balance sheet. Okwangoku, i-Stock Treasury iyenziwa kwiindleko zembali. Abanye bacinga ukuba kufuneka kubonakalise ixabiso lemarike yezabelo zenkampani njengoko, ngokwenene, inkampani inokubathengisa kwimarike evulekileyo okanye ukuyisebenzisela ukuthenga ezinye iifemu, ukuzibuyisela kwimali okanye kwiimpahla ezivelisayo. Le ngcamango ayinakwenzeka.
Ekugqibeleni, qaphela ukuba abanye bathi ukunciphisa inani leNondyebo yeShishini inkokhelo inokuthi ithathe ukunciphisa ukulingana kwabanikazi nabanikazi ngexesha elithile kuba yindlela yokuthatha izityebi ngaphandle kweshishini ngabanikazi / abanini-zamasheya, oko kungasongela amalungelo omthetho ababolekisi. Ngelo xesha, ezinye iindawo azivumeli iinkampani ukuba zithwale i-Stock Treasury kwi-balance sheet kuwo onke, kunokuba zifunwe ukuba zithathe umhlala-phantsi.