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Temperature decreases with altitude in the
Horizontal Value
Horizontal value typically refers to the integrated worth derived from combining companies or assets operating at the same level of the supply chain, though the term "horizontal value" isn't standard in business lexicon.
Distribution Efficiencies
The effectiveness with which a company is able to deliver its products or services to its customers in the most cost-effective manner.
Tax Shields
Reductions in income tax liability achieved through allowable deductions such as mortgage interest, depreciation, or charitable donations.
Bondholders
Investors who own bonds issued by a corporation or government, essentially lending money to the issuer in exchange for periodic interest payments and the return of principal at maturity.
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