...George Soros is one of the richest hedge fund men across the globe. He has worked tirelessly for his success. Soros is a famous Philanthropist, Manager and a great author. He has been featured by Forbes as the World’s 19th richest man and the richest forex trader. He was born in Budapest Hungary a time when Nazi Germany invaded Hungary. A time when the young Soros was only 13 years. The country was going through difficult moments and that was the most critical moment in the history of Hungary. Their family had to change their Jewish name to Soros so that they could survive the wars. At that time, Jewish children were also barred from attending schools which was a step backward towards the progress of their future. He also survived other attacks...
Words: 462 - Pages: 2
...FOSS Free Open Source Software This means you have the freedom to copy and re-use software rather than to have to pay for each version or new edition. Though the term is used inclusively there are differing ideas surrounding each. For example Free software is more about the freedom it gives user whereas Open Source is praised for the strength of the whole peer-to-peer modle that is used. The whole general idea of FOSS arose in the 1980’s through one Richard Stallman who was the founder and creator of the GNU project which later went on to become the Free Software Foundation. FOSS philosophy simply states that it is the right of every user to use, modify, and distribute computer software for any purpose. The right to use, distribute, modify and redistribute derivative versions, the so called "four freedoms," are based in and representative of an extreme form of anti-discrimination resistant to categorization into the typical “left, center and right” political schema. This element of nondiscrimination, coupled with the broad nature of FOSS's philosophical foundation, enables the easy adoption of FOSS technologies. FOSS's broadly defined freedom acts as an important starting point and one conceptual hinge useful in understanding the wide circulation of FOSS as a set of technologies, signs, methodologies and philosophies. An analysis of the way in which this philosophical and legal form is animated and redirected in particular ways through the use of FOSS technologies...
Words: 794 - Pages: 4
...SUKRITI JAIN Will EU survive the second decade of the new millennium? CONTENTS 1. ORIGIN........................................................................................................................................... 6 1.1 1.2 2. 3. 4. Perceived benefits ................................................................................................................... 7 Rules governing union (Stability and Growth Pact and Maastricht Treaty) ........................... 7 Faultlines ......................................................................................................................................... 7 current SCENARIO ........................................................................................................................ 8 WHY SAVE EURO? .................................................................................................................... 10 4.1 ALTERNATIVES................................................................................................................. 11 Split ............................................................................................................................... 11 Institutionalised austerity and ECB bailing out ............................................................ 13 ECB lends money to IMF and latter disburses loans with stiff conditionality’s ........... 13 Creation ofEuropean treasury/ EmpoweringEFSF ........................................................ 13...
Words: 3487 - Pages: 14
...17-05-2013 Internationale Monetaire Betrekkingen C. Troost Groep 109A 2012/2013 Semester 2 Blok 2 Een technische analyse van Black Wednesday aan de hand van de Simplest Test Sjeel Meijerink Tim Waaijer 10248552 6036759 INLEIDING Op 16 september 1992 verliet Groot-Brittannië het Europese Exchange Rate Mechanism (ERM). Naar deze dag wordt sindsdien gerefereerd als “Black Wednesday”, de dag dat George Soros £1 miljard verdiende door te speculeren op een daling van de Britse pond (Leftly, 2012). Tot 1990 stemde de Bank of England (BoE) haar beleid af op dat van de Duitse Centrale Bank (Kenen, 1995, p. 6). Groot Brittannië maakte tot die tijd geen deel uit van het ERM. Door een hoge inflatie besloot Groot Brittannië in 1990 toch mee te doen met het ERM en kreeg een vaste wisselkoers ten opzichte van de Duitse Mark. De EEG stond echter een bandbreedte toe waarin een wisselkoers mag bewegen (Higgins, 1993, p. 29). Voor Groot Brittannië was dit tussen 6% boven de vastgestelde koers van 2,95 DM/£ en 6% er beneden, de wijde bandbreedte (Higgins, 1993, p.30). Anderen landen in het ERM moesten een strengere band van 2,25% aanhouden. Groot Brittannië, Italië en Frankrijk werden beschouwd als zwakkere economische landen met een hoge inflatie en daarom werd toegestaan dat zij een bandbreedte van 6% kregen in plaats van 2,25% (Higgins, 1993, p. 30). De afspraak is dat de overheid en de centrale bank de binnenlandse munt zullen kopen en verkopen om de wisselkoers binnen die band te...
Words: 1501 - Pages: 7
...start out into the free-market economic system, paying attention to cultural factors in IM&As is becoming essential. The wider cultural gap and the current trend of IM&Asbetween developed and developing countries increases the urgency of understanding the effects of civilization on the dynamics of IM&As and on issues such as corporate organization and local adaptation strategy. The present research is designed in response to this shortcoming. It examines the effects of culture on the outcome of IM&As and the variability of these effects during the different phases of an IM&A. The research focuses on the international aspect of cultural conflicts—the differentiating factor between domestic mergers and acquisitions (M&As) and IM&As. It measures success from an organization’s internal perspective, comparing what the IM&A, at inception, was expected to achieve and what it achieved several years later. This approach is different from the standard one of evaluating success based on market reaction to the IM&A—an external measure. I.B: Justification The main contention of this research is that there is no single means of managing across broders. People’s perceptions...
Words: 3556 - Pages: 15
...the IAM Hedge Fund Research Programme of the Financial Markets Group. Within this programme the LSE team undertakes independent research into aspects of the hedge fund industry. It is hoped that the results of this research will give greater understanding about this growing area of financial innovation. This research paper gives a broad introduction to the hedge fund industry, the historical background to the evolution of hedge funds, the fund of funds industry and provides an explanation of some of the terminology used within this area. As an overview of the industry the document does not attempt to address the use of hedge funds within the broader context of portfolio management such as organisational risk or other areas of concern for the investor. This is a nontechnical paper and as such is intended for students or practitioners seeking a general introduction and reference tool. It is not a survey of the research literature and citations are kept to a minimum. If you wish to keep updated on the IAM Hedge Fund Research Programme please let us know. If you have any questions please contact IAM at our London office or visit our website: 34 Sackville Street London W1S 3EF Tel. +44 (0)20 7734 8488 www.iam.uk.com For information about the research activities of the Financial Markets Group see the following page or visit the FMG website (http://fmg.lse.ac.uk.) London School of Economics Financial Markets Group The Financial Markets Group (‘FMG’) research centre was established...
Words: 10299 - Pages: 42
...Corruption in the FDA and USDA Scott A. Weidner Cardinal Stritch University Business Ethics MGT 460 Rozine Smith February 28, 2013 Table of Contents Abstract.............................................Page 3 Authors intent (thesis statement)....................Page 4 Ethical Concerns …………………………………………………………………………………………..Page 4 The Root of the Problem…………………………………………………………………………..Page 6 Chart of Monsanto appointees……………………………………………………………..Page 6 Which Administrations are Guilty…………………………………………………..Page 8 Obama Appointees……………………………………………………………………………………………..Page 10 Damage and Effects………………………………………………………………………………………….Page 12 Recommendations………………………………………………………………………………………………..Page 13 Abstract At the heart of the issues of corruption in the FDA and USDA are the appointees to the departments. Many are former employees of Monsanto. A former director of Monsanto made the statement Monsanto should not have to vouchsafe the safety of biotech food that is the job of the FDA. The FDA says that food manufactures should be responsible for what they produce. Ironically, the FDA is controlled largely by Monsanto, and Monsanto is regulated by the United States Government, with neither side willing to take ownership of the issue. The first Monsanto appointees in the FDA were placed under the first Bush administration. In each subsequent administration more appointees were taken from Monsanto. President Obama is responsible for the largest number...
Words: 2340 - Pages: 10
...International Center for Business Research Issue: Volume 2 – Apr 2013; Link: icbr.net/0204.37 Case Study Of SKS Microfinance Ltd.: India’s Lone Microfinance Company in the Stock Market Devendra Prasad Pandey1 1 MGCG University, Chitrakoot, Satna, MP, India Abstract: Started as an NGO in 1988, SKS is today a for-profit NBFC regulated by the Reserve Bank of India. As of January 31, 2013 it has 48 lakh members associated with 1307 branches. It has disbursed 26195 crore as of September 2012. SKS Microfinance operates across 17 states in the country, including Andhra Pradesh, Karnataka, Maharashtra, Odisha, Madhya Pradesh, Bihar, Uttar Pradesh, Rajasthan, Uttaranchal, Haryana, West Bengal, Jharkhand, Chhattisgarh, Gujarat, Kerala, Punjab and Delhi. In August 2010, SKS completed an IPO that from the global financial perspective was a great success: it was 13 times oversubscribed, and the company's valuation reached the top of the offer band price (which initially listed the value of the company at $1.5 billion), and the share price rose 13% on its first day of trading and rose 29% within four weeks of the IPO. In the process, SKS raised $348 million in fresh capital that, in theory, was supposed to help further grow the business and allow SKS to serve more people with financial services and microcredit than it reached before the IPO. Shares of SKS Microfinance rose by over eight per cent in early trade, after the company reported a net profit of Rs 1.2 crore for the third...
Words: 6840 - Pages: 28
...S A BRIEF HISTORY OF DECISION MAKING BY L E I G H B UC H A N A N A N D A N D R E W O ’ CO N N E L L RANDY LYHUS Humans have perpetually sought new tools and insights to help them make decisions. From entrails to artificial intelligence, what a long, strange trip it’s been. SOMETIME IN THE MIDST OF THE LAST CENTURY, Chester Barnard, a retired telephone executive and author of The Functions of the Executive, imported the term “decision making” from the lexicon of public administration into the business world. There it began to replace narrower descriptors such as “resource allocation” and “policy making.” 34 | Chances Are The dicey history of risk 36 | The Meeting of Minds The power and perils of group decision making 38 | Thinking Machines The real intelligence behind AI 40 | The Romance of the Gut The appeal of leaders who just do it The introduction of that phrase changed how managers thought about what they did and spurred a new crispness of action and desire for conclusiveness, argues William Starbuck, professor in residence at the University of Oregon’s Charles H. Lundquist College of Business.“Policy making could go on and on endlessly, and there are always resources to be allocated,” he explains.“‘Decision’ implies the end of deliberation and the beginning of action.” So Barnard–and such later theorists as James March, Herbert Simon, and Henry Mintzberg– laid the foundation for the study of managerial decision making...
Words: 4766 - Pages: 20
...Leadership: Inherent or developed? Gary Mason Regent University June 26, 2016 Leadership: Inherent or developed? Introduction Leadership is required in nearly every aspect of our lives; it is so important that leadership, and the traits that make up leadership, have been studied extensively for decades. In industry the viability of the organization depends so heavily on leadership that many companies fail, not due to a poor product, or bad marketing but simply due to poor leadership since “…leadership…may affect work team processes and results”. (Santos, Caetano, & Tavares, 2015, p. 470) Although “nearly $15 billion is spent yearly…” (Prager, 2016, p. 30) on leadership development programs “study after study says leadership development is not effective, senior leaders don’t believe it works”! (Prager, 2016, p. 30) With the amount of money being spent on leadership development, clearly there is a belief that it is possible to train someone to become a leader. Still, “86% of HR and business leaders see leadership shortfalls as a top-three issue”. (Prager, 2016, p. 32) If leadership development is important enough to spend $15 billion dollars a year to provide, yet 86% of business leaders and Human Resource officers still consider the development of leadership skills a significant issue because of remaining shortfalls in leadership in spite of the investment, there is plainly a disconnect. But, what attributes or skills are recognized as good leadership traits? According...
Words: 3865 - Pages: 16
...1a) Derivatives are an important financial instruments that play significant role in today’s financial markets. It offers various types of risk protection and allow innovative investment strategies. A derivative is so called derivative because its value is derived from another financial security. According to Oxford dictionary, derivative is defined as something derived or obtained from another, coming from a source; not original. In financial jargon, a derivative security is referred to a financial contract whose value is derived from the value of an underlying asset or simply underlying. This underlying is usually stocks, bonds, foreign currency, or commodities. The derivative buyer or seller does not have to own the underlying security to trade these instruments. Several factors have contributed to massive development in derivative markets since the 1970s. First, the collapse of the Bretton Woods system of fixed exchange rates in 1971 increased the demand for hedging against exchange rate risk. The Chicago Mercantile Exchange allowed trading in currency futures in the following year. Second, the changing of its monetary policy target instrument by the US Federal Reserve (FED) promoted various derivatives markets. The adoption of a target for money growth by the FED in 1979 has led to increased interest-rate volatility of Treasury bonds. That in turn raised the demand for derivatives to hedge against adverse movements in interest rates. Later in 1994 when the US Federal...
Words: 7545 - Pages: 31
...RESEARCH PAPER 99/14 11 FEBRUARY 1999 The Asian Economic Crisis This paper considers the economic crisis that began in the financial markets of South East Asia in 1997 and the consequences for the economies of the region and the rest of the world. The paper provides a chronology of and explores the factors that led to the crisis. An overview is given of the policy measures that the international financial institutions (IFIs), such as the IMF, have taken to deal with the crisis. Some of the arguments and policy proposals made to try to avoid future crises are also covered. Eshan Karunatilleka ECONOMIC POLICY AND STATISTICS SECTION HOUSE OF COMMONS LIBRARY Recent Library Research Papers include: 98/119 98/120 99/1 Unemployment by Constituency - November 1998 Defence Statistics 1998 The Local Government Bill: Best Value and Council Tax Capping Bill No 5 of 1998-99 16.12.98 22.12.98 08.01.99 99/2 99/3 99/4 Unemployment by Constituency - December 1998 Tax Credits Bill Bill 9 of 1998-9 The Sexual Offences (Amendment) Bill: 'Age of consent' and abuse of a position of trust [Bill 10 of 1998-99] 13.01.99 18.01.99 21.01.99 99/5 99/6 99/7 The House of Lords Bill: 'Stage One' Issues Bill 34 of 1998-99 The House of Lords Bill: Options for 'Stage Two' Bill 34 of 1998-99 The House of Lords Bill: Lords reform and wider constitutional reform Bill 34 of 1998-99 28.01.99 28.01.99 28.01.99 99/8 99/9 99/10 99/11 99/12 Economic Indicators Local Government...
Words: 16600 - Pages: 67
...JARAF The Journal of applied research in accounTing and finance V O L U M E 3 , i s s U E 1 , 2 0 0 8 Old Wine in New Bottles: Subprime Mortgage Crisis – Causes and Consequences Michael Mah-Hui Lim Information Lost: A Descriptive Analysis of IFRS Firms’ 20-F Reconciliations Marlene Plumlee and R. David Plumlee Negative Goodwill: Issues of Financial Reporting and Analysis Under Current and Proposed Guidelines Eugene E. Comiskey and Charles W. Mulford Electronic copy available at: http://ssrn.com/abstract=1263280 JARAF The Journal of applied research in accounTing and finance Publication Information JARAF - The Journal of Applied Research in Accounting and Finance is a scholarly peerreviewed journal jointly published by The Centre for Managerial Finance at Macquarie Graduate School of Management and the Faculty of Economics and Business at The University of Sydney. All journal articles published in JARAF are subjected to double-blind peer-reviews by qualified international experts. Months of Distribution: July – December Current Edition: Volume 3, Issue 1 (2008) ISSN 1834-2582 (Print) ISSN 1834-2590 (Online) Editors Tyrone M. Carlin Professor of Financial Reporting & Regulation Faculty of Economics and Business The University of Sydney NSW 2006 Australia Nigel Finch Director, Centre for Managerial Finance Macquarie Graduate School of Management Macquarie University NSW 2109 Australia Editorial Advisory Board Edward I. Altman Max L. Heine Professor...
Words: 13336 - Pages: 54
...PAUL KRUGMAN WINNER OF THE NOBEL PRIZE IN ECONOMICS THE RETURN OF DEPRESSION E C O N O M CS AND T H E C R I S I S OF I 2 0 0 8 ISBN 9 7 8 - 0 - 3 9 3 - 0 7 1 0 1 - 6 W USA $24.95 CAN. $27.50 hat better guide could we have to the 2008 financial crisis and its resolution than our newest Nobel Laureate in Economics, the prolific columnist and author Paul Krugman? In his prescient 1999 classic, The Return of Depression Economics, Krugman surveyed the economic crises that had swept across Asia and Latin America and pointed out that they were a warning for all of us: like diseases that have become resistant to antibiotics, the economic maladies that caused the Great Depression were making a comeback. In the years that followed, as Wall Street boomed and financial wheeler-dealers made vast profits, the international crises of the 1990s faded from memory. But now depression economics has come to America. When the great housing bubble of the mid-2000s burst, the U.S. financial system proved as vulnerable as those of developing countries caught up in earlier crises—and a replay of the 1930s seems all too possible. In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States and the world up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken...
Words: 59318 - Pages: 238
...Abstract Lehman collapse was the largest bank bankruptcy in the United States history. Complex causes combination lead to this tragedy. This paper is going to illustrate primary causes that result in its failure, and also discuss impacts on financial systems supervision and regulations. TABLE OF CONTENTS 1. INTRODUCTION 1 2. LITERATURE REVIEW 4 3. RESEARCH METHODOLOGY 1 3.1 Data collection 2 3.2 Methodology x 3.3 Limitations 3 4. ANALYSIS AND DISCUSSION 4 4.1 5 4.1.1 4.1.2 4.1.3 4.1.4 4.1.5 4.2 4.3 6 5. CONCLUSION 1 6. REFERENCES 4 7. APPENDICES 1 8. ACKNOWLEDGEMENTS 1 1. INTRODUCTION The credit crunch occurred in 2008 has been arguably recognised as an extreme phenomenon during the financial crisis, which generated to the longest recession in the U.S. history since ‘the Great Depression’ in1929. Over 600,000 jobs lost in during 2008, and unemployment rate went up to 6.1% which was the highest point in 5-year time (Isidore, 2008). According to the Turner Review (2009), faultiness of regulation and supervision underpinned financial problems’ increase. Therefore, to illustrate the causes of Lehman Bother’s crash in 2008, events occurred during crisis progress are listed in Appendix 1. Among those serious cases, bankruptcy of Lehman Brothers was concerned to be the most typical...
Words: 9576 - Pages: 39
