« Risk in Modern Finance Modern finance and much of economic theory is based on the assumption that individuals that make up the marketplace in which ...» Document abstract
$2.95
3 word format
Language : english
business strategy
case study
date published
27/08/2007
review : not yet assessed
level : General public
requested 17 times
SummaryModern finance and much of economic theory is based on the assumption that individuals that make up the marketplace in which transactions occur, act rationally and know every piece of information associated with their decision-making process in purchasing or selling a product (whether it is a stock or a banana). These assumptions are shaky and dangerous, and researchers, especially academics in the fields of finance and economics, have concluded that this is not the case. Hundreds of examples have been documented on events where irrational behavior and errors repeatedly in judgment occurred. In Against The Gods, Peter L. Bernstein states that there is proof of evidence that “reveals repeated patterns of irrationality, inconsistency, and incompetence in the ways human beings arrive at decisions and choices when faced with uncertainty” (304). Are markets governed by psychology of the investors or is the market an entity of itself and makes its own decisions?
Table of Contents- The analyses of behavioral finance deal with the effects of market decisions and of the decisions of a population
- Currently there are academic experts in the field who invest their money based on behavioral financial theories
- Statman is a professor who is well-versed in the area of behavioral finance that deals with fear of regret
- If some ametuer investors accidentally have success in one of their trading endeavors, they attribute that success to skill
- People view other people's decisions as not being very thoughout or practical, but they view their own decisions as rational ones
- Is it possible to predict stock price movement through behavioral finance or are price movements too random for anyone to be able to model them?
« The discontinuous movements of prices add to the risk. Modern financial theory is based on the mathematics further research on applied finance and mathematics ...» Document abstract
$2.95
3 word format
Language : english
finance
summaries
date published
03/08/2007
review : not yet assessed
level : General public
requested 9 times
SummaryDo markets really follow a random walk as modern financial theory suggests? Are we likely to experience a market crash as deadly as the likes of the Great Depression? What is the nature of volatility and how should it impact the way we model financial markets? Although definitive answers to these questions have yet to be formulated, Benoit Mandelbrot’s work, The (Mis)Behavior of Markets, sheds light onto them through a non-quantitative approach.
There are currently widespread misconceptions about markets, investors, and their behavior, and we will begin by addressing these false assumptions.
There are currently widespread misconceptions about markets, investors, and their behavior, and we will begin by addressing these false assumptions.
Table of Contents- Do markets really follow a random walk as modern financial theory suggests?
- There are currently widespread misconceptions about markets, investors, and their behavior
- Having discussed the investor, it is necessary to point out certain 'shaky' assumptions relating to market behavior, particularly price movement
- Rule 1: Markets are risky
- The scaling effect is present in every level of business operations
- Today's models falsely assume the financial system is a 'linear, continuous, rational machine.?
- Although we have trillions of pieces of data from P/E ratios, to historical prices, to EBITDA, the 'toolkit' that we use to measure risk is 'surprisingly bare.
« However, a less risk-averse reader may be willing to is at the heart of the modern American culture the time will focus on matters involving finance and business ...» Document abstract
$1.95
2 word format
Language : english
journalism
school essay
date published
12/09/2007
review : not yet assessed
level : General public
requested 1 times
SummaryThe assignment states that “language use in discourse communities functions (in part) to exclude others”. While this is true in many cases, sometimes language use in discourse communities actually functions to include others. After all, the goal of any publication, be it a newspaper, a science journal, or a magazine, sets forth the goal of maximizing its readership, not excluding any potential subscribers. In attempts to include others, a publication must use non-exclusionist writing, so that a person who does not belong to the discourse community can easily digest and comprehend the writing.
Table of Contents- The purpose of the Wall Street Journal (WSJ) is to distribute information in the most simple and effective way possible
- We cannot summarize the intention or purpose of this collection as a whole without analyzing the purpose of several specific articles
- The goal of a publication is to maximize readership
- In our discussion of the WSJ and the style with which it targets its readers, we have been discussing the exceptions, the oddities of the writing, and mainly things that make it unique as a publication
Corporate governance under English common law : the respective roles of executive and non executive directors
« out that `there will be a risk of conflict of and Gardner C. Means, The Modern Corporation and Private Dorchester Finance Co Ltd v Stebbing (1989) BCLC, 498. ...» Document abstract
$9.95
15 word format
Language : english
business law
presentation
date published
08/07/2004
review : not yet assessed
level : Expert
requested 41 times
Summary The role of boards and its relationship to management must be clearly identified. The Companies Act provides that companies must have directors but does not define their functions. This is left to the articles of association, where the most undertaken practice consists of vesting the board of all the powers necessary for the management of the business, apart from those reserved by the Act to be exclusively exercised by the shareholders in general meetings. Thus, the need for a statutory statement of directors' duties makes no doubt.
Derek Higgs has issued a review on the role and effectiveness of non-executive directors. The recommendations were introduced in the revised Combined which came into effect in November 2003. Nearly all of the 50 recommendations made in the Higgs Report were incorporated into the revised Code.
The terms of reference of the Higgs review included an assessment of the population of non-executive directors in the UK, the process of appointment, the extent to which they are independent, their effectiveness, their accountability including their relationship with institutional investors and issues relating to their remuneration and the role of the Combined Code on Corporate Governance.
We will work out through these recommendations and critically analyse the possible impact on our system of corporate governance. However, before discussing these issues we need to consider the general characteristics of English boards and how the earlier reviews have changed the assessment of corporate structure...
Derek Higgs has issued a review on the role and effectiveness of non-executive directors. The recommendations were introduced in the revised Combined which came into effect in November 2003. Nearly all of the 50 recommendations made in the Higgs Report were incorporated into the revised Code.
The terms of reference of the Higgs review included an assessment of the population of non-executive directors in the UK, the process of appointment, the extent to which they are independent, their effectiveness, their accountability including their relationship with institutional investors and issues relating to their remuneration and the role of the Combined Code on Corporate Governance.
We will work out through these recommendations and critically analyse the possible impact on our system of corporate governance. However, before discussing these issues we need to consider the general characteristics of English boards and how the earlier reviews have changed the assessment of corporate structure...
Table of Contents- Motivations for a board reform.
- The unitary board model and its influence on the role of directors.
- The board's responsibility as the management organ of the company.
- The monitoring role of non-executive directors.
- Clarification on Directors' duties.
- Statutory codification or self-regulation?.
- The board reform in the light of the Higgs report.
- Critical view of the reform.
« of the major integrative arrangements of modern democracies Those who finance the social insurance are likely to exposure to a certain risk, `rational opposition ...» Document abstract
$7.95
8 word format
Language : english
social sciences
presentation
date published
22/01/2004
review : not yet assessed
level : Expert
requested 17 times
Summary Since the comfortable mixture of economic growth and welfare state expansion has come to an end the welfare state has been subjected to a crisis discussion. Its integrative capacity and its ability to compromise different class interests have been doubted. It was assumed that the higher status groups will express their anti-welfare sentiments within the political arena, whereas the welfare beneficiaries of the lower status sections of the society might be the defenders of the welfare state. In this regard, it was widely assumed that people will support social institutions if they derive benefits from them. The “beneficial involvement” of social groups was seen as the crucial factor for the public standing of the welfare institutions. Special attention was given to the middle classes: “The idea here is that if the middle classes benefit from programmes, then they will not use their not inconsiderable political skills to obtain more resources for those programmes or to defend them in periods of decline” (Goodin/LeGrand, 1987). This essay sets out a comparative frame which charts the attitudinal stances towards the welfare state in Great Britain and Germany...
Table of Contents- Liberal and conservative welfare regimes
- Institutional design and social integration
Les internautes ont également acheté « activity in a world of globalised production and finance. exposed to a significant amount of external risk". a strong role to play in modern economic structures ...» Document abstract
$9.95
11 word format
Language : english
political science
presentation
date published
20/02/2007
review : not yet assessed
level : Expert
requested 32 times
SummaryThis essay deals with one of the most controversial questions in today’s social science debates: the relationship between the nation-state and globalisation. Globalisation, understood quite loosely here as a series of contemporary and unprecedented developments in the economic, social and cultural integration of world market and societies – in other words, a general sense of the shortening of distance between here and there, us and the Other – implies a new definition of the field of social relationships, a definition that is much less centred on the national level and takes more account of the global.
In these conditions, the end of the nation-state may be at hand. According to this view, the nation-state, which has been the only entity of international importance since the Westphalia treaties of 1648, is now the subject of increasing strains. It is doomed to lose more and more of its power in the twenty-first century. In the realm of worldwide action and global participation, how can the territorially limited and ideologically outdated nation-state survive ?
One should always be cautious about seemingly-obvious statements, especially on issues of national reach. Lessons from the past show us that the nation-state has flourished from very sturdy roots, roots that have many times proven stronger than the winds of change. Still, some signs, such as the appearance of many new institutions of global governance, cannot be ignored: what scope remains for the state in the new distribution of power brought about by globalisation ?
I will attempt here to show that the most challenging aspect of globalisation for the nation-state is not economic revolution, contrary to common belief. Indeed integration of world markets adds as many opportunities for states as it does bounds to their sovereignty. Globalisation also means new forms of contacts and exchanges between cultures, making people ever more aware of global issues that concern all of humanity. I will argue that it is in this new “global consciousness” that the greatest threats for the sovereignty and legitimacy of nation-states lie, with one crucial question lying in waiting: will future globalisation be up to the challenge of democracy and accountability?
This essay will be structured around two parts. In the first one, I will tackle the still burning debate of economic globalisation and the fate of the nation-states, taking sides with those who do not want to proclaim the end of the nation-state too soon. In the second part, I will concentrate on more political and social issues, attempting in a few words to show that globalisation requires new forms of democracy that may prove a big challenge to contemporary political organisations.
In these conditions, the end of the nation-state may be at hand. According to this view, the nation-state, which has been the only entity of international importance since the Westphalia treaties of 1648, is now the subject of increasing strains. It is doomed to lose more and more of its power in the twenty-first century. In the realm of worldwide action and global participation, how can the territorially limited and ideologically outdated nation-state survive ?
One should always be cautious about seemingly-obvious statements, especially on issues of national reach. Lessons from the past show us that the nation-state has flourished from very sturdy roots, roots that have many times proven stronger than the winds of change. Still, some signs, such as the appearance of many new institutions of global governance, cannot be ignored: what scope remains for the state in the new distribution of power brought about by globalisation ?
I will attempt here to show that the most challenging aspect of globalisation for the nation-state is not economic revolution, contrary to common belief. Indeed integration of world markets adds as many opportunities for states as it does bounds to their sovereignty. Globalisation also means new forms of contacts and exchanges between cultures, making people ever more aware of global issues that concern all of humanity. I will argue that it is in this new “global consciousness” that the greatest threats for the sovereignty and legitimacy of nation-states lie, with one crucial question lying in waiting: will future globalisation be up to the challenge of democracy and accountability?
This essay will be structured around two parts. In the first one, I will tackle the still burning debate of economic globalisation and the fate of the nation-states, taking sides with those who do not want to proclaim the end of the nation-state too soon. In the second part, I will concentrate on more political and social issues, attempting in a few words to show that globalisation requires new forms of democracy that may prove a big challenge to contemporary political organisations.
Table of Contents- Economic Globalisation and the Role of the State
- Social globalisation and new forms of democracy
Discuss the shift away from the conglomerate form in the advanced industrial countries, and its persistence in most emerging markets performance?
« if information is conveyed rapidly through modern telecommunication means as a means to reduce corporate risk by building View', The Journal of Finance, vol LIV ...» Document abstract
$4.95
5 word format
Language : english
economics
presentation
date published
20/04/2007
review : not yet assessed
level : Expert
requested 10 times
SummaryWestern business strategies are often held as models for emerging countries. Despite General Electric being the largest worldwide conglomerate, such success stories have become rather rare nowadays in the United States and Europe, although this is not true in Japan for cultural and historical reasons. For this reason, the dismantling of most conglomerates from the developed countries is for many a path to follow in the emerging markets. This belief was reinforced by the financial crisis in Asia and Latin American as multi-lateral financial institutions and consultants pressed for a closer convergence between first and third-world business models, to improve efficiency and productivity. The inefficiency resulting from the family-controlled enterprise model is another arguments used by proponents of this convergence.
Due to the word limit, this paper only aims at presenting the differences between developing and developed countries which could explain why conglomerates have disappeared from the former and are still persistent in the latter. Firstly, the very notion of Conglomerate and its characteristics will be analysed with the support of the literature review. In a second part, the paper will analyse the shift away from the conglomerate form in the industrialised countries, studying the case of the ITT Corporation, a conglomerate that is now only a shell of its past glory. Finally, the paper will evaluate the reasons that maintain into existence in the developing countries, based on an analysis of the Tata group.
Due to the word limit, this paper only aims at presenting the differences between developing and developed countries which could explain why conglomerates have disappeared from the former and are still persistent in the latter. Firstly, the very notion of Conglomerate and its characteristics will be analysed with the support of the literature review. In a second part, the paper will analyse the shift away from the conglomerate form in the industrialised countries, studying the case of the ITT Corporation, a conglomerate that is now only a shell of its past glory. Finally, the paper will evaluate the reasons that maintain into existence in the developing countries, based on an analysis of the Tata group.
Table of Contents- What is a conglomerate?
- From diversified to focus firms in industrial countries
- Persistence in most emerging markets
The political influence on organization decision making towards corporate social responsability: a socio economic approach
« is perceptible in the entire modern western world Risk Management - Protecting Reputation: Computer Law & Security Report: vol the Global Trade and Finance Agenda ...» Document abstract
$9.95
30 word format
Language : english
economics
presentation
date published
27/07/2006
review : not yet assessed
level : Expert
requested 51 times
SummaryThis research will look at the political influence on organization decision making towards social responsibility. To do so, a combination of social and economic theories will be used. In chapter three, the political field and the political actors in this research will be discussed. Chapter four will describe how organizations can be influenced by the political actors introduced in chapter three. At the background of this relation is the globalization. In chapter three and four will be shown how globalization led to new relations between the different actors and the rise of large international Non Governmental Organizations (NGOs). When the different influences of governments and NGOs on organization decision-making are known, there will be examined how organizations deal with this influence. At the end of this paper, in chapter five, an overview will be given of this possible organizational movements. At last, some hypothesis will be posted towards in which situation organizations make movements towards or away from corporate social responsible behavior.
Table of Contents- Research design
- Objects of research
- Acknowledgement
- The political field around csr
- Introduction
- The impact of globalization
- Different actors: ngos and governments
- The working of the field
- The dependency of organizations
- Introduction
- The impact of globalisation
- The influence of ngos and governments
- Position of csr decision making in the political field
To what extent is Richard Branson, the English Tycoon, a very influential person in the British political life?
« wealth, opportunity, innovation, and venture, accept risk and rely over from years to years to finance the development it", was her contribution to modern verse ...» Document abstract
$9.95
11 word format
Language : english
economics
presentation
date published
23/01/2007
review : not yet assessed
level : Advanced
requested 34 times
SummaryRichard Branson is Britain’s best-known entrepreneur. This self-made man started his first company at the age of 17 and succeeded in building an empire. Worth £3 billion and believed to be the ninth-richest man in the UK, the 56-year-old founder of the Virgin empire inspired a generation of entrepreneurs by becoming not only influent in business activities but also in the British political life. Branson is not engaged in any political party and defines himself as a libertarian. He swings between the Conservative and the Labour Parties as long as the economic interests are saved. In December 1999, he was awarded a knighthood in the Queen's Millennium New Year's Honours List for “services to entrepreneurship”.
The aim of this essay is to analyse how important the participation of Richard Branson in the British political life is. Indeed, because of his huge business activities that deal with numerous and various key sectors of the country such as the transport, the energies or the media, Branson has a privileged position vis-à-vis government officials. In a way, he can be considered as a political actor. In order to have a better understanding of this topic, we will first briefly present Richard Branson, known as the British tycoon. Then we will analyse one of his main successes and one of his main defeats within Britain, that are respectively, the launch of his company Virgin Atlantic Airways and his experience with the City of London in 1986. The choice of these cases is relevant as they both involved discussions and negotiations with British political institutions. Finally we will analyse his participation in political actions and political debates.
The aim of this essay is to analyse how important the participation of Richard Branson in the British political life is. Indeed, because of his huge business activities that deal with numerous and various key sectors of the country such as the transport, the energies or the media, Branson has a privileged position vis-à-vis government officials. In a way, he can be considered as a political actor. In order to have a better understanding of this topic, we will first briefly present Richard Branson, known as the British tycoon. Then we will analyse one of his main successes and one of his main defeats within Britain, that are respectively, the launch of his company Virgin Atlantic Airways and his experience with the City of London in 1986. The choice of these cases is relevant as they both involved discussions and negotiations with British political institutions. Finally we will analyse his participation in political actions and political debates.
Table of Contents- How Richard Branson built his own empire and his image
- Branson's success and failure vis-à-vis British institutions
- How Richard Branson succeeded in the airline industry
- The difficult relations between Richard Branson and the British Financial Institution: his experience in the City
- Richard Branson's socio-political actions
- How the cooperation between Branson and the Government was successful
- How Richard Branson get involved in the global warming fight
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