...Environmental Fundamentals ENV 100 September 9, 2013 Environmental Fundamentals For a number of years, the planet and its environment have strived to meet the demands of the increasing growth in populations, global warming, and altered habitats, which has produced a global impact on the sense of balance between nature and man. The struggles amongst the environment do not affect one group of individuals or living entity; the whole planets population is concerned by environmental troubles. Each living entity on the planet may affect the environment. In order for individuals to preserve the planet, assistant in resolving environmental problems, and attain sustainability of the planet as it grows, a person should know the fundamental principles of environmental science. Environmental science may be described as the study of human connections with the environment. It is the interdisciplinary subject that blends knowledge from several disciplines such as geography, biology, chemistry, physics, geology, economics, cultural anthropology, sociology (particularly demography, the study of populations), natural resource management, engineering, agriculture, law, ethics, and politics (Berg & Hager, 2009, p1.4). Science and Technology effect the Environment Science and technology affect environmental challenges and resolutions in today’s culture. Science and technology both support humanity by assisting in the advancement of new innovations for surviving, but likewise...
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...Environmental Fundamentals ENV/100 Environmental Fundamentals The fundamental principles of environmental science will be discussed in this paper and the definition of environmental science along with the elements and principles related to it will be addressed. The concept of environmental sustainability and the historic patterns surrounding will be describe, along with human values and how it affects the challenges in society. Examples of environmental hazards and how they affect the health of humans will also be provided. There are many environmental issues facing the world today. To try to understand how the natural world functions is not an easy concept to comprehend and definitely not an easy responsibility to put on society. This is why it is important to know and recognize the significance of environmental science. Environmental science is the interdisciplinary study of humanity’s relationship with other organisms and the nonliving physical environment. As human population continues to reproduce, as technology progresses and the wants and needs of humans multiply, society’s impacts on the world become harsher, despite the improvement in some areas. Environmental impacts can affect the health of humans and a human’s wellbeing. After reviewing research on the environment, environmental hazards directly affect human health. One major environmental hazard to human health is pesticides. These pesticides...
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...Fundamental Principles of Environmental Science Rebecka McCollough ENV/100 December 18, 2012 Crystal Stawiery Fundamental Principles of Environmental Science Even though we think we cannot do without material things, we need to conserve our natural resources because depletion of renewable resources will kill our planet. If we do all we can to ensure environmental sustainability and the rejuvenation of natural resources, as a society we can ensure a prosperous future for our children and grandchildren. Environmental science is the study of various factors that affect our environment. Some of these factors are global warming, pollution, overpopulation, and over consumption of natural resources. According to Berg and Hager (2009), “The focus of environmental science is identifying, understanding, and solving problems that we as a society have generated.” As a society, we want material things to show our status in society. Many times we do not focus on at what cost it is to our environment to have these things. We need to stop focusing on the wants and start focusing on the needs. Water is a resource that we need; a television is a material want. If we stop and look at what resources an individual needs to survive, we would find that it is very low. We need shelter to live in, water to drink, and food to eat. As technology advances in our country, it attributes to the depletion of our natural resources...
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...Environmental Fundamentals University of Phoenix ENV/100-Principles of Environmental Science Environmental Fundamentals An analysis of the fundamental principles concerning environmental science provides and understanding of the study and also the importance of human behaviors having effects on the natural environment. Principles of science and technology assist with determining how environmental problems occur and also assist with generating solutions to minimize problems from arising. The concept of environmental sustainability surrounds itself with sustainable and unsustainable human interactions dealing with the environment, each of which have affected and also affects natural resources both past and present. Environmental Science Environmental science is an interdisciplinary study that focuses on the manner in which humans interact with the environment. The study also focuses on combining information from many other disciplines to include biology, chemistry, and economics as it is concerned with conditions that may have an effect on the environment and also organisms living within the environment. In addition, environmental science attempts to establish necessary principles that outline and determine how the natural world functions. These principles are used to create practical solutions to issues impacting the environment. Problems concerning the environment are typically very complex hence providing scientific explanations and making scientific evaluations helps...
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...Environmental Fundamentals University of Phoenix MU13ELC10 Principles of Environmental Science MU13ELC10 Date Assignment is due October 9, 2013 The first thing that may come to one’s mind in discussing the definition of environmental science is the Environmental Protection Agency (EPA). This agency handles many topics, however, one of the main functions is the proper handling of dumping hazardous materials, like used oil and antifreeze. Growing up in the mid-west 25 plus years ago, dumping used engine oil along the fence line or in the ditches to keep the weeds down was a common practice. That practice occurred what seems like a life time ago and fortunately people have gotten much smarter and currently know the hazards of dumping hazardous material into the soil and the water table. Environmental is everything that one relies on during one’s life, like air, water, soil, and rock. Environmental Science is defined as a branch of biology focused on the study of the relationship of the natural world, and the relationship between organisms and their environment (Your Dictionary, 2013). Consequently how does the relationship between Science and technology effect environmental problems and solutions in today’s society? It would be hard pressed to imagine life without the commodity of oil. Oil keeps the world moving with gas and diesel products. Without oil the world would stop functioning. With that said, oil is one of the largest down falls facing the environment...
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...Fundamental Principles of Environmental Science Environmental science looks at nature and how introducing humans and their technology effects the environment (Your Dictionary, n.d.). A great example of this is the study of nature and how recycling effects the environment. This study could include what our current usage without recycling plastics historically has done to the environment and calculations on what that will look like in the future. Then, introducing recycling to determine what we could accomplish to diminish those effects. Environmental science is an important piece to study for our future as a planet and generations to come. Due to the findings from environmental science, we continue to strive for a more sustainable and efficient way of life. These findings have made the world aware of the detrimental effects of our consumption without taking any action. We have taken this knowledge and applied technology to provide solutions to the affects to the environment in today’s world. Some of the current concerns to our environment include global warming, creating clean energy, reviving the world’s oceans, preventing pollution and protecting endangered wildlife and places. We have diligently been working on solutions through technology for all of these concerns. When we look at global warming for instance, there are many things to consider that make the study and concept of environmental sustainability important. Global warming historically has resulted in...
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...PLEKHANOV RUSSIAN UNIVERSITY OF ECONOMICS INTERNATIONAL BUSINESS SCHOOL COURSE WORK « Business Valuation on the basis of Damodaran model » Corporate Finance Student: Pavel Terefera Supervisor: Irina Sokolnikova Moscow 2015 Contents Introduction _____________________________________________ 3 Chapter 1. Valuation______________________________________ 4 1.1 Valuation in portfolio management_________________________ 7 1.2 Valuation in acquisition__________________________________ 10 1.3 Valuation in corporate finance_____________________________ 10 Chapter 2. Approaches to Valuation___________________________ 11 2.1 Profitable Approach_____________________________________ 12 2.1.2 Income capitalization approach __________________________ 12 2.1.3Method of discounted cash flows__________________________ 14 2.1.4 Discounted Cash Flow Valuation on example of JSC NLMK____ 20 2.2 Relative Valuation Approach______________________________ 23 Conclusion _______________________________________________ 28 Bibliography ______________________________________________ 29 Introduction. Knowing the value of an asset may not be a guarantee for success for investor, but it does help us make more informed judgments. A postulate of sound investing is that an investor does not pay more for an asset than its worth. In conditions of market economy when all transactions are made "on fear and risk" their participants, both seller...
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...Abstract The world-wide financial crisis of 2008-2009 has left in its wake severely damaged economies in the United States and Europe. The crisis has also shaken the foundations of modern-day financial theory, which rested on the proposition that our financial markets were basically efficient. Critics have even suggested that the efficient--market–hypotheses (EMH) was in large part, responsible for the crises. This paper argues that the critics of EMH are using a far too restrictive interpretation of what EMH means. EMH does not imply that asset prices are always “correct.” Prices are always wrong, but no one knows for sure if they are too high or too low. EMH does not imply that bubbles in asset prices are impossible nor does it deny that environmental and behavioral factors cannot have profound influences on required rates of return and risk premiums. At its core, EMH implies that arbitrage opportunities for riskless gains do not exist in an *Princeton University. I am indebted to Alan Blinder and to the participants in the Russell Sage Conference on Economic Lessons From the Financial Crisis for extremely helpful comments. 2 efficiently functioning market and if they do appear from time to time that they do not persist. The evidence is clear that this version of EMH is strongly supported by the data. EMH can comfortably coexist with behavior finance, and the insights of Hyman Minsky are particularly relevant in eliminating the recent financial crisis. Bubbles, when they...
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...1 EFFICIENT MARKETS HYPOTHESIS Andrew W. Lo To appear in L. Blume and S. Durlauf, The New Palgrave: A Dictionary of Economics, Second Edition, 2007. New York: Palgrave McMillan. The efficient markets hypothesis (EMH) maintains that market prices fully reflect all available information. Developed independently by Paul A. Samuelson and Eugene F. Fama in the 1960s, this idea has been applied extensively to theoretical models and empirical studies of financial securities prices, generating considerable controversy as well as fundamental insights into the price-discovery process. The most enduring critique comes from psychologists and behavioural economists who argue that the EMH is based on counterfactual assumptions regarding human behaviour, that is, rationality. Recent advances in evolutionary psychology and the cognitive neurosciences may be able to reconcile the EMH with behavioural anomalies. There is an old joke, widely told among economists, about an economist strolling down the street with a companion. They come upon a $100 bill lying on the ground, and as the companion reaches down to pick it up, the economist says, ‘Don’t bother – if it were a genuine $100 bill, someone would have already picked it up’. This humorous example of economic logic gone awry is a fairly accurate rendition of the efficient markets hypothesis (EMH), one of the most hotly contested propositions in all the social sciences. It is disarmingly simple to state, has far-reaching consequences...
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...Contents Page 1.0 Executive summary 1 2.0 Introduction 2 3.0 Business context 3 3.1 Company profile 3 3.2 Company history 4 3.3 Key management 4 3.4 Ownership structure 6 3.5 Recent financial performance 8 4.0 Characteristics of industrial market 10 4.1 Major players 10 4.2 Market share 10 4.3 Turnover 12 4.4 Industry life cycle 13 5.0 Current issues and their impact on Sino Techfibre 14 5.1 SWOT analysis 14 5.1.1 Strengths 14 5.1.2 Weaknesses 14 5.1.3 Opportunities 14 5.1.4 Threats 15 5.2 Globalisation 16 5.3 Porter’s five forces 16 6.0 Profit/loss statement 18 7.0 Balance sheet 19 8.0 Assumptions and predictions for 2010, 2011 and 2012 22 9.0 Evaluation of financial performance 22 9.1 Operating profit margin 23 9.2 Interest expense rate 23 9.3 Financial leverage multiplier 24 9.4 Tax retention rate 24 9.5 Total asset turnover 25 9.6 Return on equity (ROE) 25 10.0 Valuation process 26 10.1 Beta coefficient (β) 26 10.2 Risk-free rate (Rf) 26 10.3 Expected return on market portfolio (Rm) 27 10.4 Risk premium 27 11.0 Dividend discount model (DDM) 28 12.0 Free cash flow to equity (FCFE) model 30 13.0 Price/Earnings (P/E) ratio model 32 14.0 Net tangible asset backing model 34 15.0 Price/Book value (PBV) ratio model 35 16.0 Valuation and recommendation 36 17.0 Reference 38 18.0 Bibliography 40 19.0 Appendix 41 Executive summary This report...
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...SESSION TOPIC: STOCK MARKET PRICE BEHAVIOR SESSION CHAIRMAN: BURTON G. MALKIEL EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* EUGENE F. FAMA** I. INTRODUCTION THE PRIMARY ROLE of the capital market is allocation of ownership of the economy's capital stock. In general terms, the ideal is a market in which prices provide accurate signals for resource allocation: that is, a market in which firms can make production-investment decisions, and investors can choose among the securities that represent ownership of firms' activities under the assumption that security prices at any time "fully reflect" all available information. A market in which prices always "fully reflect" available information is called "efficient." This paper reviews the theoretical and empirical literature on the efficient markets model. After a discussion of the theory, empirical work concerned with the adjustment of security prices to three relevant information subsets is considered. First, weak form tests, in which the information set is just historical prices, are discussed. Then semi-strong form tests, in which the concern is whether prices efficiently adjust to other information that is obviously publicly available (e.g., announcements of annual earnings, stock splits, etc.) are considered. Finally, strong form tests concerned with whether given investors or groups have monopolistic access to any information relevant for price formation are reviewed.' We shall conclude that...
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...review discusses the evolution of their sustainability principles and broad plans for implementation. In the 1980s the environmental concerns were primarily pollution control and prevention with a focus on reducing emissions from existing manufacturing processes. During this period the company made significant improvement in pollution control and prevention, risk management, and facility improvements such as reducing toxic materials and emissions. In the 1990s the focus shifted to product stewardship, which emphasizes earlier intervention to minimize environmental impacts associated with the full life cycle of a product. The product stewardship function focused on developing global processes for tracking and managing regulatory compliance issues, customer inquiry response systems, information management, public policy shaping, product take-back programs, green packaging, and integrating “design for the environment” and life cycle analysis into product development processes. Today the company realizes that pollution prevention and product stewardship have become baseline market expectations and that to be an environmental leader in this century, a company needs to integrate environmental sustainability into its fundamental business strategy. This company realizes that it must redefine its core business utilizing the principles of the 3 “E’s”: Environmental, Economic and Equitable (social) sustainability. The reasons...
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...Environmental Protection - Recognizing the human right Pursuit to save the environmental life. Rashmi Shukla (Author) and Titiksha Shrivastava (Co-Author) 09/25/2012 Rashmi Shukla1 Titiksha Shrivastava2 Environmental Protection: Recognizing the Human Right Human rights, these are the basic fundamental rights guaranteed to every human under the Universal Declaration of Human Rights and rights guaranteed to every citizen of India under the constitution of India. Article 21 of the India constitution has often been referred to as the spirit of Indian constitution, the article states that “Nobody shall be deprived of his Right to life and personal liberty except by the procedure established by law”. Prima facie the Article seems to be very concise but through various precedents and judicial dictions the Indian judiciary has recognized various facets pertaining to the article. The article briefly explains the duty of State to provide safe and healthy environment to its citizens as the part of Directive Principle of State Policy provided under Article 36-51 of the Indian Constitution. This paper seeks to marginalize the relation between human rights and Environmental protection by seeking the relation between environment and its effect on human life. The paper also adjudicates the...
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...What Is Environmental Psychology Environmental psychology is a discipline or field of psychology dealing with conservation and health psychologies. There are many theoretical approaches to environmental psychology. Several of these theories also tie into individual psychology as well. Two of the theories that connect both these psychologies are the alderian theory and Barker’s theory of under population. Research is very important to both the theories and environmental psychology as a field. Research and the lack of visible results was one of the reasons this field was born from the conservationist field of psychology. Environmental Psychology Environmental psychology examines the interrelationship between environments and human behavior and in this field the term environment is defined very broadly to include all that is natural on the planet as well as social settings, built environments, learning environments and informational environments (Young, 1999). From the beginning, environmental psychology has included researchers concerned with the health of the environment, and a great deal of research relevant to conservation psychology has been done by environmental psychologists (Clayton & Myers, 2009). Environmental psychologies roots come from late 1960s studies and research of other fields, although its exact origin is somewhat unknown (Clayton & Myers, 2009). There are many theories about this particular field of study – environmental psychology. Theories...
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...To what extent did the precautionary principle assume significance in UK environmental law? In the last few decades the Precautionary Principle has gained significance within the realm of modern environmentalism. It appears, although not always explicitly, in national legislation, international statements of policy, treaties etc. Despite its development, there is no commonly agreed definition of the Precautionary Principle nor is there any guidance on how to implement it. Its central role is to guide administrators and regulators who make decisions or develop policy in circumstances where there is no conclusive scientific proof of a clear link between the relevant action or substance and the harm“on the grounds that it is better to be roughly right in due time, bearing in mind the consequences of being very wrong, than to be precisely right too late.” The first detailed reference to the Precautionary Principle in the UK was featured in the government's White Paper on the Environment, entitled "This Common Inheritance”. It put forward a weaker formulation of the Precautionary principle on the basis that you have to ensure that you balance the costs and benefits in order to dismiss any lack of scientific certainty when taking action against significant risks. It was weakened further in a sub-section of the White paper where it was made clear that all decisions relating to the environment had to “…look at all the facts and likely consequences of actions of the basis of the best...
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