...banker, stock market, financial management, and risk financing. The paper will take a brief look at the function and importance of each of these terms and how they apply to business. I will also discuss how I will fund my new business venture, and why I choose that way of funding. There are a variety of ways to fund a business including borrowing from friends and family or even seeking out investors. There is no right or wrong way to fund your business, just what way works best for you and your situation. BUSINESS AND FUNDING 3 Funding a Small Business Venture Previously I discussed the way in which I wanted to run my business. I chose to run my new small business as a sole proprietor. As a sole proprietor I will run my own business and be taxed at a personal income level, and I personally am liable for all business debt (The Ultimate Resource, 2009). I will give you a brief reminder of my situation, I am starting my own small business for a new product I invented, and I believe this product can be used for a wide range of applications. I am very new to the business world and am doing a lot of research trying to improve my management and financial skill set. My husband and I cannot completely fund the starting of this business ourselves. Now we need to research ways to get our funding. I can choose to borrow money, sell stock, or license the technology. I will explain why I choose the one I do and why it best fits my...
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...Syracuse University A Literature Review: Why are stocks repurchases the best payout alternative method? Willie Reddic Table of Contents 1.0 Introduction.……............................................................................................................3 2.0 Beginning Literature of Dividends and the Movement towards Repurchases .......3 3.0 Methods of Repurchases and Key Definition ...............................................................4 4.0 The Positives and Negatives on Methods of Repurchases ……....................................5 5.0 Summary and Conclusion ...........................................................................................10 6.0 References.....................................................................................................................11 1.0 Introduction “A share repurchase distributes cash to existing shareholders in exchange for a fraction of the firm's outstanding equity. That is, cash is exchanged for a reduction in the number of shares outstanding.” (Wikipedia Foundation, Inc.) The intent of this paper is to review stock repurchases as the preferred method of alternative payout for shareholders. There are many reasons why firms choose this option. Past literature shows substantial evidence of reasons that range from capital structure adjustments to takeover defense (Bagwell, 1991). However, in my opinion the strongest reason is because stock repurchases can be used as another method of paying...
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...whether the Singapore stock market is weak-form efficient. If the hypothesis holds, the stock prices should reflect all available information in historical prices. In order words, it is expected that the stock returns would demonstrate unpredictability and follow random walk given an efficient market. 2.0 Methodology The data used for this analysis are the stock prices of the 30 components in STI for the period of 1 Jan 2001 to 31 Dec 2012 extractedfrom Yahoo Finance. For each stock, the daily, weekly and monthly stock returns are calculated. Weekly returns are derivedfrom the closing price on each Friday, while monthly returns are based on the closing price at each month-end. The STI is a capitalization weighted stock market index that tracks the performance of the top 30 companies listed on the Singapore Exchange. As such, the composition of STI is not fixed. As at Feb 2013, subject to availability of data from Yahoo Finance, it is observed that majority of the 30 stocks on STI have been included since Year 2000, while some are included in the period of Year 2004 to 2010. However, one of the current components of STI—IHH Healthcare Berhad—was only included on 26 Jul 2012 which is less than a year as of analysis date. Considering that a big portion of this analysis focuses on the comparison between the 30 stocks, the stock prices of IHH were excluded to ensure fairer basis of comparison. More importantly, the relatively small sample size of IHH stock prices may not be large...
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...Taking the Company Public Keller Graduate School of Management-AC600 Online October 2011 Table of Contents Introduction 3 Step 1: Finding an Underwriter 3 Step 2: SEC Filing 4 Step 3: The Cooling Down Period 5 Step 4: Price per Share 5 Timeline to Public Trading 6 Conclusion 7 Works Cited 8 Introduction In the pages below, the steps required to take a company public will first be briefly described and then specifically detailed. After that a general timeline will be listed to help paint a picture of the approximate time needed to take a private company and turn it into a publicly traded business. Once the steps and timeline of going public have been discussed, the final paragraph will be a brief overview of everything mentioned previously in this article. Step 1: Finding an Underwriter The first step towards moving a private company into the public sector is finding a financial institution to invest in the company. Examples of such banks include Morgan Stanley and Merrill Lynch. The company should consider several different institutions for their merger into the public realm. This entity is one that will become very intertwined with the company and thus the company should seek out the one that best suits their needs. Some prefer the larger institutions with the history and track record for leading successful initial public offerings (IPOs) into the market. However, other companies will prefer smaller...
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...a paradoxical mixture pf personal humility and professional will. They are timid and ferocious. shy and fearless. They are rare -- and unstoppable. In 1971, a seemingly ordinary man named Darwin E. Smith was named chief executive of Kimberly-Clark, a stodgy old paper company whose stock had fallen 36% behind the general market during the previous 20 years. Smith, the company's mild-mannered in-house lawyer, wasn't so sure the board had made the right choice -- a feeling that was reinforced when a Kimberly-Clark director pulled him aside and reminded him that he lacked some of the qualifications for the position. But CEO he was, and CEO he remained for 20 years. What a 20 years it was. In that period, Smith created a stunning transformation at Kimberly-Clark, turning it into the leading consumer paper products company in the world. Under his stewardship, the company beat its rivals Scott Paper and Procter & Gamble. And in doing so, Kimberly-Clark generated cumulative stock returns that were 4.1 times greater than those of the general market, outperforming venerable companies such as Hewlett-Packard, 3M, Coca-Cola, and General Electric. Smith's turnaround of Kimberly-Clark is one the best examples in the twentieth century of a leader taking a company from merely good to truly great. And yet few people -- even ardent students of business history -- have heard of Darwin Smith. He probably would have liked it that way. Smith is a classic example of a Level 5 leader -- an individual...
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...Why a Harvard Professor Has Mixed Feelings When Students Take Jobs in Finance This is a bittersweet time on campus. Seniors are beginning to find jobs, and while their enthusiasm is infectious, some of their choices give me pause. Many of the best students are not going to research cancer, teach and inspire the next generation, or embark on careers in public service. Instead, large numbers are becoming traders, brokers and bankers. At Harvard in 2014, nearly one in five students who took a job went to finance. For economics majors, the number was closer to one in two. I can’t help wondering: Is this the best use of talent? Of course, these are intensely personal choices as young people chase their aspirations and dreams. But if a favorite student of mine comes up to me and says, “I just got an offer at this investment bank and I’m going to take it,” I want to know how should I feel about it. I will be happy for her individually, but still I wonder: Is this a good decision for society as a whole? As an economist, I look at it this way: Every profession produces both private returns — the fruits of labor that a person enjoys — and social returns — those that society enjoys. If I set up a shop on Etsy selling photographs, my private returns may be defined as the revenue I generate. The social returns are the pleasure that my photographs provide to my customers. A scene from “It’s a Wonderful Life” that presents two types of bankers. Mr. Potter, seated, played by Lionel...
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...Abstract Purpose: The purpose of this report is to study the HR Policies and practices in Stock broking Firms in Investment financial Sector. Methodology: in this study, we intended to assess the HR policies and practices in stock broking companies. Primary data based on three stock broking firms and secondary data based on 10 research paper were analyzed to assess HR policies and practices by stock broking firms. For this study, many factors are consider for further analyzed like recruitment, selection, induction, learning & development, performance appraisal, career progression, rewards, employee recreation. The sample analysis analyzed is constituted of stock broking companies listed on the one of the stock exchange in India. Findings: In stock broking firms, they are used pre-define structure for recruitment and selection. They are also followed all the HR practices and policies which applicable in finance industry as well as other industry. Research limitation: This report is only focused on one sector (investment) and in investment sector only considered 3 stock broking firms for this study. Most of head of the HR manager were in Mumbai, so the collected of the data from subordinate HR managers or rather HR executives. Introduction: HRM contributes to organizational performance in different ways: through sound functional basics, through effective realignment when the external environment changes; and by building an organizational context to that the...
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...Stock valuation Secondary markets are markets where investors purchase securities from other investors, rather than from issuing companies themselves. Secondary markets are important because they enable investors to convert securities easily to cash. In the United States, most secondary market transactions are accomplished on one of the numerous stock exchanges the NYSE or NASDAQ. 1. NYSE: is the oldest, largest, and best-known stock exchange market in the United States, which was founded in 1792. It is located on Wall Street New York city and lists over 2500 companies. 2. NASDAQ: was created in 1971 and is the world's first electronic stock market. NASDAQ is a computerized system that facilitates trading of stock and provides quotes for Over-the-Counter (OTC) stocks not listed on other markets. NASDAQ is an acronym for National Association of Securities Dealers Automated Quotation. Unlike NYSE, NASDAQ does not have a physical trading place that brings together buyers and sellers. Instead, all trading on the NASDAQ exchange is done via a network of computers and telephones There exist four types of secondary market. 1. Direct Search: is a secondary market that provides the least amount of price information and the buyers and sellers are required to search each other out directly. Because the entire cost of finding and bargaining with potential and desired trading partner is paid by just one party, there is only a small incentive to search among all possible partners...
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...» THE HIGH-PERFORMANCE ORGANIZATION BEST OF HBR 2001 If there's one management expert who is synonymous with the term "highperformance organization," it is Jim Collins, who has spent the past 20 years trying to understand how some companies are able to sustain superlative performance. It may seem surprising that of the seven factors Collins identified as essential to take a company from good to great, he chose to focus on leadership in this 2O01 piece. However, even a casual rereading of the article will convince you that he was right to do so. Collins argues that the key ingredient that allows a company to become great is having a Level 5 leader: an executive in whom genuine personal humility blends with intense professional will. To learn that such CEOs exist still comes as a pleasant shock. But while the idea may sound counterintuitive today, it was downright heretical when Collins first wrote about it-the corporate scandals in the United States hadn't broken out, and almost everyone believed that CEOs should be charismatic, larger-than-life figures. Collins was the first to blow that belief out of the water. Level 5 Leadership TheTriumph of Humility and Fierce Resolve by Jim Collins What catapults a company from merely good to truly great? A five-year research project searched for the answer to that question, and its discoveries ought to change the v^ay we think about leadership. I n 1971, a seemingly ordinary man med Darwin E. Smith was named...
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...Benchmarking Supply Chain Management: Finding Best Practices By Bjørn Andersen, Tom Fagerhaug, and Stine Randmæl SINTEF Industrial Management, Trondheim, Norway Jürgen Schuldmaier, Profactor, Steyr, Austria ABSTRACT This paper represents a more popularized adaptation of the complete report written (Fagerhaug, Randmæl, Andersen, 1998) as documentation of the benchmarking activity in the project SMArTMAN SME. The objective of using benchmarking in the SMArTMAN SME project was to increase the knowledge about the supply chain management process and to enable the industrial partners to learn from the best practice. This was done through identification and study of other enterprises in Europe and their processes. The two key findings from the benchmarking studies are: 1. A set of flow charts that portray what we consider to be a best practice process spanning the areas of procurement and supply chain management. This process has been designed by merging the best elements from each of the benchmarking partners’ processes into one generic process. 2. Descriptions of practices observed at the benchmarking partners’ that seem to be of “best practice” level and which were not suited for inclusion in the flow charts. 1 The SMArTMAN SME Project The European machine manufacturing industry consists mainly of SMEs, since in most cases the product, a machine, is not suitable for mass production. These European Machine Manufacturing SMEs (MM-SMEs) are forced by the increasing ...
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...Centre and what I will recommend as the best choice and that will be more beneficial financially and socially. The beneficial part is that you will be saving more money and is cheapest, social part is that it’s for a certain age group where they will get along and can come and do some learning and meeting new people and be able to build up confidence and get involved into new activities. | Findings: In my Findings I have found that each option e.g. Café, Karts and Arts have a lot of sales but overall café has the most of a total of £25.066 which will be very profitable. In the monthly running up costs café and karts have the most expenses for the running costs whereas the Arts have a very cheap running costs with a total of £11.790 so when they are going through all the building and the stock also the insurance and wages and all the other bills will be very cheap because they will have profit of £5.000 every month because of their monthly income whereas café and Karts they will only have a profit of 1 to 2 thousand pound. The most successful to be in the set-up cost will be the Arts again because they have cheap expenses for the Equipment and stock whereas the Café and Karts are a lot more expensive to be paying for the cheapest Building work would be the Café but for the total for the set-up cost will be the Café. | Conclusion: In my Conclusion with all the calculations done and measured with the most profitable and best financial and sociable business would be...
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...Test of asymmetric Garch models Henri Högkulla s082880 Carl-Anton Karlsson s081760 Hanken School of Economics Department of Finance and Statistics Vaasa November 2011 Contents Abstract ...................................................................................................................................... 1 1 Introduction ............................................................................................................................. 2 2 Methodology ........................................................................................................................... 4 2.1 ARCH and GARCH ......................................................................................................... 4 2.2 EGARCH ......................................................................................................................... 4 2.3 GJR-GARCH ................................................................................................................... 5 2.4 Distributions ..................................................................................................................... 5 2.5 Information criterions ....................................................................................................... 6 3 Data ......................................................................................................................................... 7 3.1 Descriptive statistics .............................................
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...Analyzing Managerial Decisions: Granting Stock Options by HCM-540, MBOL5, Health Care Organization Instructor: Saint Leo University Distance Learning December 8, 2013 Analyzing Managerial Decisions: Granting Stock Options Ronald J. Sanders Saint Leo University MBA540 Analyzing Managerial Decisions: Granting Stock Option There are a number of studies that would argue a different method of motivating employees or offer advice in ways of accomplishing a task. Each way is supposedly, the best way to get the best results. The fact is, the no two people are the same and each has a different motivating factor. The thing that motivates one may not be what motivates the other. I am motivated by the positions of authority and money. Any other recognition would barely hold water with. My wife, has a different motivation. She enjoys helping people and gets a greats sense of worth from being appreciated, and recognized and valued as an employee. The way she sees it, someone taking the time out of their schedule to show appreciation is valued more than money. She will likely give you more effort and dedication for those types of praises. She will become more loyal at every show of appreciation; working for appraisal versus simply a normal pay raise. For me, money is what motivates me finding ways to increase the dollar value is always a challenge. The company, Bobby’s Burger, Bobby Jones is challenged with a similar situation; how to challenge his managers to exert...
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...Many dogs all over the world love to eat Royal Canin dog food. Dogs that were fed this brand since they were a puppy are often reluctant to try something new. Therefore animal owners should consider the benefits and drawbacks of the Royal Canin dog food product before they purchase it. Firstly buyers should be aware that Royal Canin dog food is more expensive than many of the other dry foods on the market. This means that some stores will be reluctant to stock it. Generally buyers will have difficulty finding Royal Canin dog food in smaller pet stores. Due to this buyers will have to shop at large stores which stock a wide variety of dry foods. Some vet offices will also have Royal Canin dog food in stock. Unfortunately this means that some...
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...product- Furniture & Household in terms of FMS, SMS. _ To do a service gap survey with the help of SERVQUAL system. _ Competitor’s survey (Home stop & Hyper city) on options, retail space allotted & brands present to study their focus areas. FINDINGS & SUGGESTIONS _ WAREHOUSE _ All location Inventory controllers should send the damages and loss data to the corporate office every Saturday. _ While sending the data, Inventory controllers should discuss the circumstances under which the loss or damaged occurred with the Store manager. _ The review of cause, analysis of data should be done to find out the lapse in the control system. _ Drill down the exact cause and recommend penalization of the concerned staff in case of frequent damage by staff. _ Overall stock holding was less in the off sale period since most of the expected consignments were delayed & more discounts were required for certain categories. All of this boils down to three simple things: _ A better co ordination between the Buying-Merchandising-Front end to give timely & appropriate discounts & discontinue the slow movers; the front end staff should be intimidated about the discounts A.S.A.P. so that they can display stocks on floor accordingly. _ Constant...
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