...DEPARTMENT OF MANAGEMENT STUDIES IIT DELHI Security Analysis & Portfolio Management – SML 873 Self Study Component – II (methodologies adopted across the globe for calculating Stock Index) By: Echo Group Russian Trading System (RTS) Stock Exchange 1. Eligibility Factors 2.1. Market Capitalization 2.2.1. A stock’s weight in an index is determined by the float-adjusted market capitalization of the stock 2.2.2. Each company’s market capitalization is capped at 15% in the RTSI and RTS2, and at 25% in the RTS Sector Indices, to restrict the weight of any one company dominating the entire index. 2.2. Liquidity: Securities that do not meet the following criteria over the three month period preceding the date of the revision are excluded from the index eligibility list 2.3.3. The average number of companies-brokers that submitted the “bid” and “ask” quotes for the security at the end of the trading session is at least two. 2.3.4. 2. The average spread between the “ask” and the “bid” prices at the end of the trading session is less than or equal to 15%, as compared to the buying price. 2.3.5. 3. The security should have two-sided quotes in the trading system at the end of the trading session for at least 90% of the trading days of a given period. 2.3.6. 4. The daily average number of transactions in this security is greater than or equal to 0.5. 2.3.7. 5...
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...The Role and Measurement of Quality in Competition Analysis 2013 The OECD Competition Committee discussed the role and measurement of quality in competition analysis in June 2013. This document contains an executive summary of that debate and the documents from the meeting: an analytical note by the OECD staff and written submissions: Australia, Canada, Chile, the European Union, Indonesia, Japan, Mexico, Portugal, United Kingdom, Ukraine, United States and BIAC. A note by Theodore Voorhees Jr. as well as a detailed summary of the discussion are also included. Competition policy is just as concerned with quality as it is with prices. While the importance of quality is undisputed and issues about quality are mentioned pervasively in competition agency guidelines and court decisions, there is no widely-agreed framework for analysing it which often renders its treatment superficial. There are a number of reasons why in practice, courts and competition authorities rarely analyse quality effects as rigorously as they analyse price effects. First, quality is a subjective concept and therefore much harder to define and measure than prices. In addition, microeconomic theory offers little help in predicting how changes in the level of competition in a market will affect quality and it is usually up to empirical analysis to determine how quality will change in response to varying degrees of competition in the context of particular markets. Given difficulties in terms of the evaluation...
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...HRM 361 – Human Resource Management Final Exam Study Guide Chapter 11 – Compensation * What is total rewards * How is it different than traditional compensation * Why compensation philosophies vary by organization * Entitlement vs. performance philosophies Intrinsic vs. extrinsic rewards- Intrinsic rewards may include praise for completing a project or meeting performance objectives. Other psychological and social forms of compensation also reflect intrinsic type of rewards. Extrinsic rewards are tangible and take both monetary and nonmonetary forms. * Role of the HR unit in compensation * Internal equity * External equity * Meet/lag/lead strategies * FLSA * Exempt / nonexempt * 5 categories of exempt employees * Overtime * Training & travel time * Independent contractors * How to classify * Tax implications for employers / employees * Market pricing and pros/cons * Pay grades * Red/green circle employees * Pay adjustments (e.g. seniority) Chapter 12 – Incentives * Variable pay philosophy * How variable pay motivates employees * 3 categories of variable pay * Types of individual incentives * Gainsharing and how different from profit sharing * 3 types of commission pay plans and which is the most common * Examples of performance incentives * Why incentives should be tied to organizational goals * Pros/cons of bonuses vs. merit...
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...UNIVERSITY OF KERALA B. TECH. DEGREE COURSE 2008 ADMISSION REGULATIONS and I VIII SEMESTERS SCHEME AND SYLLABUS of COMPUTER SCIENCE AND ENGINEERING B.Tech Comp. Sc. & Engg., University of Kerala 2 UNIVERSITY OF KERALA B.Tech Degree Course – 2008 Scheme REGULATIONS 1. Conditions for Admission Candidates for admission to the B.Tech degree course shall be required to have passed the Higher Secondary Examination, Kerala or 12th Standard V.H.S.E., C.B.S.E., I.S.C. or any examination accepted by the university as equivalent thereto obtaining not less than 50% in Mathematics and 50% in Mathematics, Physics and Chemistry/ Bio- technology/ Computer Science/ Biology put together, or a diploma in Engineering awarded by the Board of Technical Education, Kerala or an examination recognized as equivalent thereto after undergoing an institutional course of at least three years securing a minimum of 50 % marks in the final diploma examination subject to the usual concessions allowed for backward classes and other communities as specified from time to time. 2. Duration of the course i) The course for the B.Tech Degree shall extend over a period of four academic years comprising of eight semesters. The first and second semester shall be combined and each semester from third semester onwards shall cover the groups of subjects as given in the curriculum and scheme of examination ii) Each semester shall ordinarily comprise of not less than 400 working periods each of 60 minutes duration...
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...Investment Banking Valuation, Leveraged Buyouts, and Mergers & Acquisitions JOSHUA ROSENBAUM JOSHUA PEARL FOREWORD BY JOSEPH R. PERELLA Investment Banking Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and Asia, Wiley is globally committed to developing and marketing print and electronic products and services for our customers’ professional and personal knowledge and understanding. The Wiley Finance series contains books written specifically for finance and investment professionals as well as sophisticated individual investors and their financial advisors. Book topics range from portfolio management to e-commerce, risk management, financial engineering, valuation, and financial instrument analysis, as well as much more. For a list of available titles, please visit our Web site at www.WileyFinance.com. Investment Banking Valuation, Leveraged Buyouts, and Mergers & Acquisitions JOSHUA ROSENBAUM JOSHUA PEARL John Wiley & Sons, Inc. Copyright C 2009 by Joshua Rosenbaum and Joshua Pearl. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976...
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...Find more on www.studymaterial.ca ADMS 2511 MIS Notes Ch 1 – Modern Organization in the Global, Web-Based Environment Management information systems (MIS)- deals with the planning of info tech to help people perform tasks related to info processing and management Information technology (IT)- any computer-based tool used with info to support the needs of an org Importance of Planning for IT -a new info system can apply to the whole org, or a specific area of the org Application portfolios- are groups of new system proposals (apps that have to be added/modified) IT Planning -begins with an organizational strategic plan -states the firm’s mission, goals, and steps to reach those goals -IT architecture describes the way an org’s info resources should be used to accomplish its mission -includes both technical (hardware operating systems) and managerial aspects (managing the IT dpt, how area managers will be involved) IT strategic plan- LT goals that describe the IT infrastructure and major IT initiatives to achieve the organization’s goals -it must meet three main objectives: -must be aligned with the org’s strategic plan -must provide for an IT architecture that networks users, apps, and databases -must efficiently allocate IS resources among different projects so they can all be completed on time, within budget, and function properly IT steering committee- composed of managers/staff who rep diff organizational units -they establish IT priorities...
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...company’s line of smartphones that combines a phone, music player, and Internet device in one product, and is based on the company’s iOS Multi-Touch operating system. Table of Contents Analysis Annual Report for Apple, Inc...........................................................................................1 Works Cited........................................................................................................................... The position of this research paper is to conduct the financial analysis of the Apple Company. The financial analysis of the Apple is based on the financial statement property and equipment, goodwill, intangible assets, depreciation methods, current liabilities, long-term liabilities, bonds payable, and capital leases. Apple Inc. is a company which is formed with the philosophy of continuous innovation. Unlike any other...
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...Form of an Acquisitive Reorganization A570_Learning Objectives_Class #1 Chapter 1 1. While I do not want you to memorize the lists contained in Chapter 1, I think that they provide a useful model for thinking about M&A. Bruner opines that M&A outcomes (see #2) are driven by “structure” and “conduct”, but that structure and conduct also interact with each other. a. In the case of “structure”, Bruner is referring to “what exists.” He is thinking of exactly the kinds of issues one contemplates when looking at a “SWOT” analysis. As you will recall, the “SW” side of the analysis deals with issues that are INTERNAL to the company (its resources—both capital and labor, and what it is capable—and incapable—of doing) while the OT side of the analysis deals with issues that are EXTERNAL to the company (changes in the marketplace, new technologies, competitors that could invade the company’s turf and competitors whose turf the company can invade). The “structure” part of the equation is “deterministic”; in other words, it is based on “causality.” b. In the case of “conduct”, the authors are referring to the behavior of the participants....
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...What is a research paper? The research paper is a presentation in a well organized discussion of the opinions, conclusions or information derived from extensive study and investigation of the work of others. Other Names 1. Term paper – refers to a project that summarizes or demonstrates mastery of the work of a term or semester 2. Report – refers to a thorough records or description of the results of first hand experiences or reading in primary sources 3. Thesis – commonly refers to a substantial research project for the master’s or undergraduate paper 4. Dissertation – research paper submitted by a candidate for the doctoral degree 5. Reading paper 6. Library paper Purposes of research paper 1. To learn to use the library efficiently 2. To develop habits of purposeful reading and note taking 3. To learn to organize the information taken from various sources and develop into a unified composition Steps in research writing 1. Step one- select your subject area – must be guided by your interest and curiosity; check on different sources – reference books, card catalog, periodical indexes, and electronic sources like the internet 2. Step two – make your working bibliography Bibliography – formal list of books, articles and other sources from which the materials of your paper are drawn. Proper bibliographic forms Book by one author Padilla, Cabrina (2015) Enriching Oral Communication Skills. Quezon City: Abiva Publishing...
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...University, Stockholm, Sweden Abstract Purpose – To examine the nature of Chinese business negotiating style in Sino-Western business negotiations in business-to-business markets involving large industrial projects from a social cultural point of view. Design/methodology/approach – A conceptual approach developed from personal interviews. Findings – This study reveals that the Chinese negotiator does not possess an absolute negotiating style but rather embraces a mixture of different roles together: “Maoist bureaucrat in learning”, “Confucian gentleman”, and “Sun Tzu-like strategist”. The Chinese negotiating strategy is essentially a combination of cooperation and competition (termed as the “coop-comp” negotiation strategy in this study). Trust is the ultimate indicator of Chinese negotiating propensities and role choices. Research limitations/implications – The focus of this study is on Chinese negotiating style shown in large B2B negotiations with Chinese SOEs. Originality/value – Differing from most other studies on Chinese negotiating style which tend to depict the Chinese negotiator as either sincere or deceptive, this study points out that there exists an intrinsic paradox in Chinese negotiating style which reflects the Yin Yang thinking. The Chinese negotiator has a cultural capacity to negotiate both sincerely and deceptively and he/she changes coping strategies according to situation and context, all depending on the level of trust between negotiating partners. Keywords...
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...CMA Exam Support Package Examination Essay Questions For Practice © Copyright 2010 By Institute of Certified Management Accountants Introduction The Institute of Certified Management Accountants (ICMA) is publishing this book of practice questions with answers to help you prepare for the CMA examination. Each question is referenced to the Content Specification Outline (CSO) and the Learning Outcome Statements (LOS). These questions are actual “retired” questions from the CMA exams and are intended to supplement other study materials. These practice questions will help you test your understanding of the concepts and rules included in your CMA study materials by requiring you to apply those concepts and rules to unique and varying situations. You will encounter different scenarios and applications on your actual examination so it is essential that you understand the underlying concepts. In general, it will not be helpful to you to memorize particular questions. Essay questions appear in both Part 1 and Part 2 of the CMA exam and combine topics from the part in which they appear. No inference should be made from the lack of practice questions in any topic areas. All topic areas listed in the Content Specification for each exam part can be tested in the essay questions for that part at the difficulty levels shown. The CMA Program is a rigorous test of your skills and capabilities and requires dedication to be successful. We hope that these practice questions...
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...Report on Foreign exchange operation in Bank Asia Abstract This paper reports a study of foreign exchange operation practices in Bank Asia. The sample for the study consisted of Bank Asia’s annual report, web address, foreign exchange policies. The results revealed that Transferring money abroad can be a difficult and worrying task for many, unsure of whether the money has reached the destination, and whether the rate that you are getting is worth while. . The finding of the study By choosing B A Exchange you are joining the larger Bank Asia Network of branches, with a promise of excellent service, reliable transfers, and fast delivery. Whether over the phone or in branch you will experience the service of our highly trained and dedicated staff, who will guide you through the entire set up and transfer process. The benefits of choosing this service will be the commitment to making sure the transfers are processed in that time and reach their destination. Other transfers and time will make sure they are there in 24 hours. Providing safe and secure transfer services to the surrounding Bangla Town community enables money to reach the right people first time. These services are accessible in branch and by phone, making this one of the most convenient solutions in the area. As part of the greater strategy of Bank Asia to provide support to Bangladeshi Nationals who are living and working in the UK, B A Exchange provides a conduit for...
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...Financial Scandals and the Role of Private Enforcement: The Parmalat Case Law Working Paper N° 40/2005 May 2005 Guido Ferrarini University of Genoa, Centre for Law and Finance and ECGI Paolo Giudici Free University of Bozen and Centre for Law and Finance © Guido Ferrarini and Paolo Giudici 2005. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. This paper can be downloaded without charge from: http://ssrn.com/abstract=730403 www.ecgi.org/wp ECGI Working Paper Series in Law Financial Scandals and the Role of Private Enforcement: The Parmalat Case Working Paper N° 40/2005 May 2005 Guido Ferrarini Paolo Giudici This Working Paper is based upon a draft prepared for the EU Corporate Law Making Conference (Cambridge, October 29-30, 2004) organized by Harvard Law School and the Swiss Federal Institute of Technology (ETH Zurich). The authors are grateful to Gerard Hertig, Mark Roe, Donald Langevoort, and other conference participants for helpful comments. Drafts of this paper were also presented at the Yale Law School Alumni Meeting on October 8-10, 2004; at a meeting of the Associazione Via Isonzo held in Milan on October 10, 2004; and at a seminar at the Institute of Law and Finance (ILF), University of Frankfurt, on January 18, 2005. The authors are grateful to Theodore Baums, Andreas Cahn, Carmine Di Noia, Jon Macey,...
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...VAULT CAREER GUIDE TO INVESTM E NT BAN KING 2008 EDITION is made possible through the generous support of the following sponsors: Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library The media’s watching Vault! Here’s a sampling of our coverage. “For those hoping to climb the ladder of success, [Vault’s] insights are priceless.” – Money magazine “The best place on the web to prepare for a job search.” – Fortune “[Vault guides] make for excellent starting points for job hunters and should be purchased by academic libraries for their career sections [and] university career centers.” – Library Journal “The granddaddy of worker sites.” – U.S. News & World Report “A killer app.” – New York Times Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library One of Forbes’ 33 “Favorite Sites” – Forbes “To get the unvarnished scoop, check out Vault.” – SmartMoney Magazine “Vault has a wealth of information about major employers and jobsearching strategies as well as comments from workers about their experiences at specific companies.” – The Washington Post “A key reference for those who want to know what it takes to get hired by a law firm and what to expect once they get there.” – New York Law Journal “Vault [provides] the skinny on working conditions at all kinds of companies from current and former employees.” – USA Today Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library ...
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...Stock Picking Skills of SEC Employees Shivaram Rajgopal Schaefer Chaired Professor of Accounting Goizueta Business School Emory University 1300 Clifton Road NE, Atlanta, GA 30030 Email: shivaram.rajgopal@emory.edu Roger M. White PhD Student in Accounting J. Mack Robinson School of Business Georgia State University Email: rwhite42@gsu.edu Preliminary and incomplete Comments welcome This draft: February 18, 2014 Abstract: We use a new data set obtained via a Freedom of Information Act request to investigate the trading strategies of the employees of the Securities and Exchange Commission (SEC). We find that a hedge portfolio that goes long on SEC employees’ buys and short on SEC employees’ sells earns positive and economically significant abnormal returns of (i) about 4% per year for all securities in general; and (ii) about 8.5% in U.S. common stocks in particular. The abnormal returns stem not from the buys but from the sale of stock ahead of a decline in stock prices. We find that at least some of these SEC employee trading profits are information based, as they tend to divest (i) in the run-up to SEC enforcement actions; and (ii) in the interim period between a corporate insider’s paper-based filing of the sale of restricted stock with the SEC and the appearance of the electronic record of such sale online on EDGAR. These results raise questions about potential rent seeking activities of the regulator’s employees. We acknowledge financial assistance from our respective...
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