In this document, we present the WINNER+ initial report on system aspects of flexible spectrum use. The document presents preferred spectrum use in WINNER+ and Digital Dividend concepts. In addition, specific innovative techniques related to intra-o
The interests and incentives of managers and shareholders conflict over such issues as the optimal size of the firm and the payment of cash to shareholders. These conflicts are especially severe in firms with large free cash flows—more cash than pro
The speed and scale of this change are not abating. New developments are still being introduced and applied – and this creates a significant dividend for Australia and New Zealand. A report published by Deloitte Access Economics in 2015 estimated th
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In 2018, due to high jet fuel prices and foreign exchange loss, net profit slightly increased only 1.5% YoY to RMB 7,351mn, and ROE was 8.2%. The Company declared cash dividend of RMB 1,500mn, representing a payout ratio of 20.4%. Because of posit
