...INITIAL PUBLIC OFFER Initial Public Offering (IPO) is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves way for listing and trading of the issuer’s securities. SPECAL 1.0 Book Building - About Book Building Book Building is basically a capital issuance process used in Initial Public Offer (IPO) which aids price and demand discovery. It is a process used for marketing a public offer of equity shares of a company. It is a mechanism where, during the period for which the book for the IPO is open, bids are collected from investors at various prices, which are above or equal to the floor price. The process aims at tapping both wholesale and retail investors. The offer/issue price is then determined after the bid closing date based on certain evaluation criteria. 1.1 The Process: • • • • • • • • The Issuer who is planning an IPO nominates a lead merchant banker as a 'book runner'. The Issuer specifies the number of securities to be issued and the price band for orders. The Issuer also appoints syndicate members with whom orders can be placed by the investors. Investors place their order with a syndicate member who inputs the orders into the 'electronic book'. This process is called 'bidding' and is similar to open auction. A Book should remain open for a minimum of 5 days. Bids cannot be entered less than the floor price. Bids can be revised by the bidder before...
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...process of building up good relationships between a company or organization and the public. They use Public Relations to build up a good reputation and a good name for their company and sometimes they use it to clear things up on their part especially if they are in a great crisis. Crisis need not strike a company purely as a result of its own negligence or misadventure. Often, a situation is created which cannot be blamed on the company - but the company finds out pretty quickly that it takes a huge amount of blame if it fumbles the ball in its response. One perfect example of this is that of Johnson & Johnson, and their response to the Tylenol poisoning back in the year 1982 when the company’s Tylenol medication commanded 35 per cent of the US over-the-counter analgesic market. Unfortunately, one individual succeeded at lacing the medication with cyanide. This caused the death of seven people which resulted into a nationwide panic about how widespread the said contamination may be. In the end of that certain incident, everyone knew that Tylenol was associated with the scare and J&J’s market value fell by one billion dollars as a result. History repeated for Johnson & Johnson. The incident reenacted itself in 1986, but the company has learned its lesson and is not willing to suffer the same consequences. It acted rapidly and recalled every Tylenol products from every market – not just those which are in the affected state. Not only that, the company also stated that the product...
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...American society and Economy – BMAN 20610 Has Affirmative Action had any positive results? Should the policy be abandoned? ‘Affirmative Action has had an indelible imprint on the university environment’ [1] With primary focus on the impact that affirmative action (AA) has had to African Americans in regard to College admission, this essay will seek to ascertain to what extent the policy has lead to positive results. While in addition, evaluating whether this policy is both a legitimate and a necessary feature within Universities in contemporary America, or should be abandoned. Following President Johnson signing into law, executive order 11246 in 1965, the concept of affirmative action was formed and subsequently integrated within the college admission process in the United States. The primary intention of the policy was to ‘redress the disadvantages associated with overt historical discrimination’. [2] While furthermore, seeking to ensure that institutions, such as Universities, were more ‘representative of the populations they serve’. [3] Since the implementation of the policy, throughout American University Campuses and the corridors of power in Washington, both debate and discourse has taken place in regard to the fairness and necessity of the practice of Affirmative Action within the College Admission process. As asserted by Garcia, those in favour of Affirmative action programs within Colleges viewed that the implementation of the policy was evidently ‘a...
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...identity management Topic: Social Networking and Interaction This project is concerned with computer mediated communication (CMC) between individuals via the social networking platform, Facebook. Created by Mark Zuckerberg in 2004, Facebook is a social networking forum wherein individuals can share photographs, personal information, conversations and friends (Buckman, 2005). Although other online sites such as MySpace, Friendster and Bebo are also designed to carry out such functions, Facebook is generally considered to be the leading site of its kind, currently consisting of over a billion users worldwide (Facebook, 2013). Facebook has increasingly become deeply integrated into user’s daily routines (Debatin, 2009). Indeed, a recent study found that students spend an average of 38 minutes a day ‘Face-booking’ (Muise et al, 2009). This equates to almost 9 days every year being dedicated to communication activities via the medium. With the internet increasingly being accessed via mobile devices, anytime, anyplace, it is likely that this figure will increase over time. With these ideas in mind, it is interesting to consider sites such as Facebook as capable of revealing important information about how young adults interact with one another in the information age. Platform functions such as wall posts, comments, statuses, private messages and so on provide a vast space for a number of different text based interactions to take place. To be sure, some believe computer mediums...
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...INTRODUCTION LAW FOUNDATION LAW AND … 1. LOGIC 2. SCIENCE 3. THEORY 4. SOCIAL PROBLEMS LAW FOUNDATION Critical = informed and logical Responsible = social equity Creative = independent and considered Interrelations -- with other disciplines and institutions Historical, philosophical, economic, political and social context == acquaintance with historical development of theory Contemporary social issues: · Terrorism · Refugees · Crime and punishment Historical context John Locke? Karl Marx? LOGIC What is wrong with this statement? In the war on terror, you are either with us or against us Which of the following is sound? All men have hair I have hair Therefore I am a man All men have hair I am a man Therefore I have hair Logic definitions Logic = science that evaluates arguments Argument = group of statements, with premises claimed to support conclusions [also inference] Statement = sentence that is either true or false [also proposition] Premise = statement setting forth reasons or evidence Conclusion = statement that the evidence is claimed to support or imply Arguments and non-arguments Arguments must have a factual claim and an inferential claim. The following are not arguments: · warnings or advice · belief or opinion · loosely associated statements · factual reports · explanations · illustrations · conditional statements Deduction and induction ...
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...mechanism for how hCG could promote weight loss. So, he approached me (his biology/nutrition based friend) to see if I were willing to investigate this weight loss method for him. After some digging, I found a long, rich vein of pseudoscience that dates back decades, but was this method safe and effective? The Background: hCG is comprised of 244 amino acids. It is produced in large amounts in a pregnant woman’s placenta, extracted from her urine. Actually, its presence in urine signifies a positive pregnancy test. Historically, hCG is used, in part, for the treatment of infertility in females to help induce ovulation. Its use as a weight loss adjunct has roots that date back to the 1950s, when British physician A.T.W Simeons announced case studies of weight loss in patients given hCG. He combined a reduction diet (500 kcal per day) with daily injections of the pregnancy hormone human chorionic gonadotropin (hCG) (125 IU i.m.). According to Simeons the patient should not lose more weight during a 4-to-6 weeks' diet than without hCG, but the injections should facilitate to maintain the diet and to lose body weight at specific parts of the body (e.g. hip, belly, and thigh). This is an example of the 500 calorie diet plan...
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...considered as a whole. Issues of income distribution are secondary, since wealth belongs to the nation regardless of how it is distributed among individuals. Since then, economists have been primarily interested in wealth and power, and not so much in removing poverty, hunger and economic misery. Malthus (1798) provided a convenient sop for consciences, showing that poverty arose as a consequence of natural laws (all proven wrong empirically later) and the only cure was to reduce the birth rate of the poor. Tawney (1926) has looked at the process by which morality got divorced from economics in much greater detail; because of this, questions of fairness, equity, justice no longer form part of current economic discourse. For those of us who are human beings first and economists second, the consequences of this preoccupation with wealth and power have been disastrous. One can receive a Ph.D. in economics without receiving one word of information about the extent of poverty in the world, or the meaning of hunger and deprivation. In informal conversation, an eminent labor economist, said that there...
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...affirmative action is to redress the disadvantages[3][4][5][6][7] associated with overt historical discrimination.[8] Further impetus is a desire to ensure public institutions, such as universities, hospitals and police forces, are more representative of the populations they serve.[9] Affirmative action is a subject of controversy. Some policies adopted as affirmative action, such as racial quotas or gender quotas for collegiate admission, have been criticized as a form of reverse discrimination, and such implementation of affirmative action has been ruled unconstitutional by the majority opinion of Gratz v. Bollinger. Affirmative action as a practice was upheld by the court's decision in Grutter v. Bollinger.[10] Affirmative action in the United States began as a tool to address the persisting inequalities for African Americans in the 1960s. This specific term was first used to describe US government policy in 1961. Directed to all government contracting agencies, President John F. Kennedy's Executive Order 10925 mandated "affirmative action to ensure that applicants are employed, and that employees are treated during employment, without regard to their race, creed, color, or national origin."[11] Four years later, President Lyndon B. Johnson elaborated on the importance of affirmative action to achieving true...
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...Over the last decade, Australian courts have vigorously debated over the existence, formulation, and consequences of the implied term of mutual trust and confidence, in the context of employment contracts. The decision in Commonwealth Bank of Australia v Barker [2013] FCAFC 83 (‘Barker’) has granted some clarification in this area, with the majority confirming that a term of mutual trust and confidence can be implied into all contracts of employment, unless the term would be inconsistent with the express terms of the contract. The decision has created implications for employers who must review the terms of their employment contracts and reconsider their pre-termination processes, and doubt relating to the scope and operation of the term. Facts: Mr Barker was employed as an executive manager at Commonwealth Bank of Australia (CBA); he had a considerable period of service with the bank. In 2009, the CBA undertook a nationwide restructure of its corporate financial services unit, causing Mr Barker’s position made redundant. Its redeployment policy was to reallocate employees to a suitable position where possible, however the banks HR manual provided that the policy did not ‘form any part of an employee’s contract of employment’. Mr Barker was informed that his position had become redundant and he was told that his employment would be dismissed in one month if another position was not found within CBA. On his notification of redundancy, Mr Barker was told to clear his desk...
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...adversarialism? The adversarial system is the two-sided structure under which criminal trial courts in the UK operate. There are four prominent structural features of the English adversarial system. Firstly, the parties dominate the conduct of proceedings with the judge playing a relatively passive role. Secondly, the parties are free to choose the terrain on which to fight out their legal battles and to select their forensic weapons. Thirdly, Trials are continuous, oral and public events. Fourthly, the imbalance of power between the state and the accused is ameliorated by rules and principles reducing inequality of arms. High level definitions or at least descriptions of the adversarial system abound such as that of Lord Denning in Jones v The National Coal Board.They are all to the effect that the judge is a passive and neutral umpire who cannot descend into the arena for fear of having his or her judgement clouded. The adversarial system is said to be the most efficient means of arriving at approximate truth because it harnesses the power of self-interest on each side to unearth the best evidence. Similarly the best legal arguments are thought to emerge from the clash of advocate’s submission on the law. A classic quotation is that of Lord Eldon in Ex Parte Lloyd that ‘truth is best discovered by powerful statements on both sides of the question.’ This follows from the notion that dispute resolution ‘achieving justice’ is the overriding objective of adversarial adjudication...
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...Assignment Question: "Today’s workplace has become increasingly diverse in terms of gender, age, culture, and ethnicity. In light of this, why and how can organisations attract, select, and retain culturally and demographically diverse employees?” Unity In Our Disparity; advancing diversity through the recruitment, selection and maintenance of heterogeneous employees. 1. Introduction 2.1. As a result of the explosion of globalisation of multinational corporations and the migration of citizens across international borders, firms of the 21st century have workforces that are distributed broadly across countries that include people from varied cultures, speaking numerous languages and educated in different systems (Rosenzweig 1998). Consequently, organisations are becoming increasingly diverse places to work, reflecting the changing demographic of society. Diversity is no longer a phenomenon; diversity management is now a mainstream field of scholarly research, with the number of publications of diversity-related issues doubling every five years (Bell and Kravitz 2008; Rivera 2012). There is consistent evidence amongst contemporary research positing several mechanisms by which diversity can improve individual, group and organisational functioning (Di Tomaso et al. 2007; Hartenian and Gudmundson 2000; Richard 2000; Seigyoung and Menguc 2005). The focus then turns on organisations to develop a framework that leverages the diverse viewpoints and experiences of its employees...
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...Beijing, China 100871 Forthcoming in European Journal of Operational Research The Internet has provided traditional retailers a new means with which to serve customers. Consequently, many “bricks-and-mortar” retailers have transformed to “clicks-and-mortar” by incorporating Internet sales. Examples of companies making such a transition include Best Buy, Wal-Mart, Barnes & Noble, etc. Despite the increasing prevalence of this practice, several fundamental questions remain: (1) Does it pay off to go online? (2) Which is the equilibrium industry structure? (3) What is the implication of this business model for consumers? We study these issues in an oligopoly setting and show that clicks-and-mortar arises as the equilibrium channel structure. However, we find that this equilibrium does not necessarily imply higher profits for the firms: in some cases, rather, it emerges as a strategic necessity. Consumers are generally better off with clicks-and-mortar retailers. If firms align with pure e-tailers to reach the online market, we show that a prisoner’s dilemma-type equilibrium may arise. Keywords: Supply chain management, Game theory, E-commerce, MNL model, Alliance 1 Introduction The rapid development of information technologies has provided new means for retailers to reach the end market. As substantially more consumers have gained Internet access and found it both convenient and secure to shop online, e-commerce has become attractive to more firms. Various Internet-enabled...
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...ICMR Case Collection C op y ICFAI Center for Management Research N BECG 045 ot The Exxon Valdez Oil Spill D o This case was written by Jaya D. Sangtani, under the direction of Vivek Gupta, ICFAI Center for Management Research (ICMR). It was compiled from published sources, and is intended to be used as a basis for class discussion rather than to illustrate either effective or ineffective handling of a management situation. 2005, ICFAI Center for Management Research. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means- electronic or mechanical, without permission. To order copies, call 0091-40-2343-0462/63/64 or write to ICFAI Center for Management Research, Plot # 49, Nagarjuna Hills, Hyderabad 500 082, India or email icmr@icfai.org. Website: www.icmrindia.org BECG/045 THE EXXON VALDEZ OIL SPILL “ExxonMobil’s tactics are well-known, and this is a classic case of deny, dupe, and delay. Just as it denies the science on climate change, it denies that oil from the spill is causing damage in the Prince William Sound. And on both issues it is running campaigns to dupe the public into thinking it is an environmentally and socially responsible corporation.”1 - Anita Goldsmith, Greenpeace International Campaigner. “Exxon would meet its obligations to all those who have suffered damage from the spill.”2 op INTRODUCTION ...
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...Sub Section‐ I Issues by Indian Companies in India This sub‐section attempts to cover the basic concepts and questions related to issuance of securities by unlisted Indian companies1 offering the shares to public and by listed Indian companies2. For full particulars of laws governing primary markets, please refer to the Acts/Regulations/Guidelines appearing in the Legal Framework Section . FAQs are presented under following 12 broad headings. 1. Different kinds of issues 2. Types of offer documents 3. Issue requirements 4. Pricing of the issue 5. Understanding book building 6. Investment in Public/Rights issues 7. Categories of Investors 8. Intermediaries involved in the issue process 9. Guide to understand an offer document 10. SEBI’s role in an issue 11. New terms 12. Additional information 1 2 “Unlisted Company” means a company which is not a listed company. “Listed Company” means a company which has any of its securities offered through an offer document listed on a recognized stock exchange and also includes Public sector Undertakings whose securities are listed on a recognized stock exchange. 1 1. Different kinds of issues What are the different kinds of issues which can be made by an Indian company in India? Primarily, issues made by an Indian company can be classified as Public, Rights, Bonus and ...
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...Research on technology and teacher education: current status and future directions. Author: Willis, Jerry.; Thompson, Ann. Sadera, William. Source: Educational Technology Research and Development v. 47 no4 (1999) p. 29-45 ISSN: 1042-1629 Number: BEDI00000113 Copyright: The magazine publisher is the copyright holder of this article and it is reproduced with permission. Further reproduction of this article in violation of the copyright is prohibited. [pic] Much of the field we call educational technology has links that go back for almost a hundred years, at least to the museum movement in the early part of the 20th century. The museum movement and the success of training and development work during the two world wars were major factors in the development of the field. Educational technology flourished in the 1950s and continues to play an important role in many colleges of education. The particular subdiscipline of educational technology we will explore in this paper does not have a long history. Information technology and teacher education (ITTE) is now a scholarly and professional discipline, but it has only recently become so. During the 1970s and early 1980s, while most educational technology programs continued to emphasize more traditional concepts and skills such as the systematic design and development of instructional materials, a separate group of graduate programs emerged that provided some of the foundations for ITTE. These programs, usually at the master's level...
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