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BCE's Operations & Government Policy

This research examines BCE Inc., the holding company, of which Bell Canada is the principal whollyowned operating company (Mulqueen, 1991). Company operations are examined first, and this examination is followed by a consideration of the effects on the company of government policy.

Company operations for the 19861990 time period are considered in two contextsfinancial and strategic. Financial performance is addressed first.

BCE's financial performance is considered in the contexts of activity, liquidity, leverage, profitability, and equity stock performance. The company's performance in these areas for the 19861990 time period was as follows:

Activity. Revenues increased 32.4 percent over the 19861990 period (calculated from data obtained from Mulqueen, 1991). Revenues by year during the period were as follows: 1986$13.9 billion; 1987$14.6 billion; 1988$15.3 billion; 1989$16.7 billion; and 1990$18.5 billion (Mulqueen, 1991). Revenues as a proportion of fixed investment decreased from 1986 through 1988, when the ratio began a dramatic increase. The annual ratios were as follows: 198689.7 percent; 1987 86.4 percent; 198885.0 percent; 198996.5 percent; and 1990 100.0 percent (calculated from data obtained from Mulqueen, 1991). Revenues as a proportion of total capital fluctuated in a narrow range during the 19861989 time period; however, a dramatic increase in the ratio occurred in 1990. The annual ratios were as follows: 198679.0 percent; 198776.4 percent; 198878.1 percent; 198981.7 percent; and 199099.5 percent.

Liquidity. Cash flow per share fluctuated over the fiveyear period of analysis; however, an increase of 13.9 percent was recorded for the entire period (calculated from data obtained from Mulqueen, 1991). Cash flow per share by year was as follows: 1986$9.04; 1987$9.44; 1988$9.10; 1989$9.85; and 1990$10.30 (Mulqueen, 1991). Fixed interest coverage decreased...

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BCE's Operations & Government Policy. (1969, December 31). In LotsofEssays.com. Retrieved 08:41, March 29, 2024, from https://www.lotsofessays.com/viewpaper/1700091.html