...strongest after bad news. I also find some evidence of reversal after extreme price movements that are unaccompanied by public news. The patterns are seen even after excluding earnings announcements, controlling for potential risk exposure, and other adjustments. They appear, however, to apply mainly to smaller stocks. I also find evidence that trading frictions, such as short-sale constraints, may play a role in the post-bad-news drift pattern. ∗ I wish to thank Kent Daniel, Ken French, Li Jin, S. P. Kothari, Jon Lewellen, Andrew Lo, Sendhil Mullainathan, Dimitri Vayanos, and Geoffrey Verter for many stimulating discussions, and the members of the MIT PhD Finance seminar for their helpful comments. Please address all correspondence to me at wschan@mit.edu. 1 1 INTRODUCTION 1 2 Introduction There is a large amount of evidence that stock prices are predictable. In the last decade, various studies have shown that stock returns exhibit reversal at weekly and 3-5 year intervals, and drift over 12-month periods.1 Some research shows that stock prices appear to drift after important corporate events for up to several months.2 This suggests that some of the drift is driven by underreaction to information. However, there are also numerous days when financial markets move dramatically, but without any apparent economic news or...
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...for suggestion, are a and more efficient means of communication than verbal cues, and they play a significant and indispensable roles in high quality communication. Thus, thisTherefore, that is exactly why I was am interested in non-verbal communication and decided to take CMN 2132 this summer: to discover what is non-verbal communication is. Currently, tThe course is now completedone and I have a very happy and unforgettable memory infrom this course. In this course, I have learned gained a huge amount of knowledge about non-verbal communication, such as the meaning and importance of non-verbal communication, how to take part in a team, and how to express emotions through various by eye behaviours and body language. However, if you ask me: “ What was the most interesting thing and crucial activity...
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...COM 3150 Midterm chapter 1-7 Assignments: 2 memos 4 business letters 1 report 5 grammar quizzes in class 1 grammar exam 2 textbook exams 1 business presentation (speech) Tonight Memos direct pattern frontloading (when why how) Listen (When why) Parallelism plain language business text format Subject good Memo- internal communication Letter- External Subject line- Important to be extensively informative. Direct- Main idea first details later (good news, neural news)- Audience will be happy to neutral Indirect- Details first, main idea later (bad news, persuasion)- Audience is hostile to uninterested Frontloading- getting to the purpose in the first sentence. The body: organize information and explanations logically. use numbered and bulleted list consider headings Parallelism-Items in the list need the same grammatical structure. Goodwill- what you put in the message to maintain the relationship. In hard copy memos: No opening or closing. Sign your initials at the end of the FROM line. Thursday May 16th Qualities if Bus waiting -Main English -Audience centered -positive Quiz 1 -Active vs. passive voice -subject verb agreement Memo 2 -tables -APA documentation First person sing I, me, my, mine, myself We, us our, ours, ourselves Second person you, your, yours, yourselves 1. Use the you attitude 2. Reader benefits (affordable, meets your needs) You attitude exercise on Blackboard ...
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...Project Report on Depreciation of Indian Rupee Seminar on Contemporary Issues of Management Submitted To: Submitted by: Ms. Tanya Nagpal Reema Bharti Reg no.10901821 Abstract In this project report on Depreciation of Indian Rupee I have highlighted the different aspects of this problem. The Indian economy is at crossroad today. The Indian rupee had depreciated 20% since January and one of the worst performing currencies in the emerging markets. In this report first of all the different factors upon which a currency’s value is depended are explained such as demand and supply, market sentiments, speculations, debt and fiscal policy, interest rates etc. There are various reasons because of which Indian Rupee depreciated. Major reasons such as volatility in market rates, increase in crude oil prices and its consumption, increased imports, poor management of CAD are playing actively in depreciating Indian rupee. As there are two sides of every coin. There are winners and losers in this case also. Broadly talking that whoever is paying dollar is loser and receiver of dollar is winner. Falling rupee value affected different sectors of economy in different way but if want to take a wide view, it is having negative impact on economy’s every sector. But we should not lose hope. In today’s volatile world...
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...South out of the kingdom to the city state of Anteros, and then when you arrive at the Fath Coast, a man named Chiron will take you on his boat called the Storm Weaver to the mysterious continent.” “He will provide you with more supplies and weapons there.” “I also personally provided three messenger birds that you can use to report back any findings you receive.” “Personally, and for the lands well being, I do not want...
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...the Dean so the police placed him in jail. In the meantime, the Dean was brought to the Dona Gregoria Memorial Hospital in Agoo, La Union. The Dean was in a critical condition due to two stab wounds in the anterior chest, and a lacerated wound in the right elbow, forearm so he was transferred to Ilocos Regonal Hospital (IRH) in San Fernando, La Union where Dean was examined and operated on by Dr. Daniel Rimando, with the assistance of Dr. Darius Parinas. Dean gave a sworn statement toSPO1 Sulatre. He deferred swearing to the truth of his statement before the Public Prosecution because SPO1 Sulatre was waiting for thepermanent medical certificate to be issued by the hospital. SPO1 Sulatre deferred the execution and submission of an arrest report also pending the issuance of th medical...
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...General Information about the iPad The iPad is a line of tablet computers designed and marketed by Apple Inc., primarily as a platform for audio-visual media including books, periodicals, movies, music, games, apps and web content. Its size and weight fall between those of contemporary smartphones and laptop computers. The iPad runs on iOS, the same operating system used on Apple's iPod Touch and iPhone, and can run its own applications as well as iPhone applications. Without modification, the iPad will only run programs approved by Apple and distributed via the Apple App Store (with the exception of programs that run inside the iPad's web browser). Like iPhone and iPod Touch, the iPad is controlled by a multitouch display—a departure from most previous tablet computers, which used a pressure-triggered stylus—as well as a virtual onscreen keyboard in lieu of a physical keyboard. History: Apple released the first iPad in April 2010, selling 300,000 units on the first day[22] and selling 3 million in 80 days.[23] During 2010, Apple sold 14.8 million iPads worldwide,[7][8][9] representing 75% of tablet PC sales at the end of 2010.[24] By the release of the iPad 2 in March 2011, more than 15 million iPads had been sold[25]—selling more than all other tablet PCs combined since the iPad's release.[26] In 2011, it took approximately 73% of the tablet computing market share in the United States.[27] During the fourth quarter of 2011, Apple sold 15.4 million iPads. Before launch Apple's...
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...General Information about the iPad The iPad is a line of tablet computers designed and marketed by Apple Inc., primarily as a platform for audio-visual media including books, periodicals, movies, music, games, apps and web content. Its size and weight fall between those of contemporary smartphones and laptop computers. The iPad runs on iOS, the same operating system used on Apple's iPod Touch and iPhone, and can run its own applications as well as iPhone applications. Without modification, the iPad will only run programs approved by Apple and distributed via the Apple App Store (with the exception of programs that run inside the iPad's web browser). Like iPhone and iPod Touch, the iPad is controlled by a multitouch display—a departure from most previous tablet computers, which used a pressure-triggered stylus—as well as a virtual onscreen keyboard in lieu of a physical keyboard. History: Apple released the first iPad in April 2010, selling 300,000 units on the first day[22] and selling 3 million in 80 days.[23] During 2010, Apple sold 14.8 million iPads worldwide,[7][8][9] representing 75% of tablet PC sales at the end of 2010.[24] By the release of the iPad 2 in March 2011, more than 15 million iPads had been sold[25]—selling more than all other tablet PCs combined since the iPad's release.[26] In 2011, it took approximately 73% of the tablet computing market share in the United States.[27] During the fourth quarter of 2011, Apple sold 15.4 million iPads. Before launch Apple's...
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...Introduc)on to financial management WEEK 1 Chapter 1 & 2 1 Expectations • A#end all classes with copies of slides. • Read the text book. • A#end all tutorials and par)cipate. • Complete the weekly quizzes and assignments. • If you are struggling • A#end consulta@on • A#end PAL. • Don’t leave it to the last week. 2 The objective of managers • Should be to maximise the wealth of the shareholders • A company also has other stakeholders that rely on it, for example: • Managers: salaries, bonuses • Employees: wages • Creditors: interest & principle • Suppliers: pay for goods/services • Government: tax The role of the =inancial manager • A firm generates cash flows by selling goods and services produced by its produc)ve assets and human capital • When the cash flows generated from the produc@ve asset exceed the cash ouQlows (such as opera@ng cash flows) the remaining cash is called residual cash flows • The company can choose to pay any profit to the owners as a cash dividend, or reinvest the cash in the business Cash =low diagram 5 The role of the =inancial manager It is all about cash flows: • A company is unprofitable when it fails to generate sufficient cash inflows to pay opera@ng expenses, creditors and taxes. • Firms that are unprofitable over @me will be forced into bankruptcy by their creditors. • In bankruptcy, the company will either be reorganised, or the company’s assets will be liquidated. ...
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...SHIV KHERA To my mother to whom I shall remain indebted for setting the foundation on which this book is based Page 1 of 175 PREFACE Success doesn't mean the absence of failures; it means the attainment of ultimate objectives. It means winning the war, not every battle. Edwin C. Bliss You have met people who literally wander through life. They simply accept whatever fate brings them. A few may succeed by accident, but most suffer through a lifetime of frustration and unhappiness. This book is not for them. They have neither the determination to succeed nor the willingness to devote the time and effort necessary to achieve success. This book is for you. The simple fact that you are reading this book indicates you want to live a richer, more fulfilling life than you have now. This book can enable you to do that. WHAT KIND OF BOOK IS THIS? In one sense, this book is a construction manual. It describes the tools you will need for success, and offers blueprints to help you build a successful and rewarding life. In a second, sense, it is a cookbook. It lists the ingredients the principles you will need to follow to become successful and gives you the recipe for mixing them in the correct proportions. But, above all, this is a guidebook a step by step, how to book that will take you from dreaming about success to unlocking your potential for success. HOW TO READ THIS BOOK This book will help you establish new goals, develop a new sense of purpose, and generate new ideas about...
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...severe challenges to maintain its production and as well as export market whereas it create new opportunity for the clothing (RMG, Knitwear) sector. Its seams the new EU’s RoO [January 1, 2011] creates a dilemma for the export oriented industry of Bangladesh. This rule may also affect the overall all economy of Bangladesh in future. On This study is focused on the identification and evaluation of the affect and future strategy for the Bangladeshi Textile and Clothing Industry due to this new rule. | Introduction With the introduction of the New EU’s RoO in January 1, 2011, a number of countries will be affected, particularly those in the South Asian regions. Not all of them will be affected in a positive way; some will come out as losers and some in an ambiguous position. It is in the latter category that the country of Bangladesh is perceived to belong, because this rule is beneficiary for the Clothing sector but at the same time is my hinder the growth of the textile industry. Though Bangladeshi clothing industry is basically based on the import raw material, but in just under a decade Bangladesh textile industry has be4en emerged basically for the Generalized System of Preferences (GSP) of the European Union, that conferred significant quota benefits to the country. Because of The previous RoO of EU for GPS, country like Bangladesh creates backward linkage of Clothing industry. But in the new RoO the...
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...product or service and their suitability for each of the four types of media. 13 Advertising 14 Sales Promotion 14 Criteria by which the results of the Communication Plan can be measured 17 Limitations of the research 19 Conclusion 19 Recommendations 19 Appendices 20 Bibliography 21 Introduction Madam Tussauds is a Wax figure exhibition with very famous wax figures, from singers, world leaders, person you always want to meet. Experience the glitter world of fame at Madam Tussauds Wax cabaret. They are currently eight Madame Tussauds attractions across the globe and the ninth will be open in spring 2009 in Hollywood. Methodology Primary data from my own experience (face to face) Secondary data collected from the internet, books, library and...
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...Readings for this week to help with assignments: Change in Leaders One of the major reasons why organizations are unable to adapt to the fast-paced, changing environments of today is the lack of effective change leadership. Leaders who are successful in guiding their organizations through change are typically those who: * Embrace change in the environment as opportunities on which to capitalize. * Are vision artists—they can paint a picture of the future that is vibrant and clear to all * Have the ability to communicate to all levels of the organizations the values and attitudes that will promote change and adaptability. * Accept mistakes and the learned lessons they provide. * Are comfortable working in a world of uncertainty. In order to understand how to successfully lead change, it is essential to understand the types and process of change. Nahavandi (2012) proposed five different types of change. Type of change | Description | Planned | Planned change occurs when leaders respond to a specific problem or pressure with a conscious effort. | Unplanned | Unplanned change occurs without an intention to address a problem. It is random or sudden. | Evolutionary | Evolutionary change does not occur all at once. It is a gradual process. | Convergent | This type of change, while evolutionary, is a result of specific actions that leaders take. | Revolutionary or frame breaking | This type of change is typically rapid and dramatic. | Leaders play...
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...slurping the soda, He's licking the ice. And he lets out a roar If you open the door. And it gives me a scare To know he's in there-That Polary Bear In our Fridgitydaire. Hug O'War I will not play at tug o' war. I'd rather play at hug o' war, Where everyone hugs Instead of tugs, Where everyone giggles And rolls on the rug, Where everyone kisses, And everyone grins, And everyone cuddles, And everyone wins. The Boa Constrictor Song I'm being swallered by a Boa Constrictor a Boa Constrictor, a Boa Constrictor I'm being swallered by a Boa Constrictor and I don't - like snakes - one bit! Oh no, he swallered my toe. Oh gee, he swallered my knee. Oh fiddle, he swallered my middle. Oh what a pest, he swallered my chest. Oh heck, he swallered my neck. Oh, dread, he swallered my – (BURP) The Loser Mama said I'd lose my head if it wasn't fastened on. Today I guess it wasn't 'cause while playing with my cousin it fell off and rolled away and now it's gone. And I can't look for it 'cause my eyes are in it, and I can't call to it 'cause my mouth is on it (couldn't hear me anyway 'cause my ears are on it), can't even think about it 'cause my brain is in it. So I guess I'll sit down on this rock and rest for just a minute... The Meehoo with an Exactlywatt Knock knock! Who's there? Me! Me who? That's right! What's right? Meehoo! That's what I want to know! What's what you want to know? Me, who? Yes, exactly! Exactly what? Yes, I have an Exactlywatt on a chain! Exactly what on a chain...
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...ONE NIGHT @ THE CALL CENTER —CHETAN BHAGAT [Typeset by: Arun K Gupta] This is someway my story. A great fun, inspirational One! Before you begin this book, I have a small request. Right here, note down three things. Write down something that i) you fear, ii) makes you angry and iii) you don’t like about yourself. Be honest, and write something that is meaningful to you. Do not think too much about why I am asking you to do this. Just do it. One thing I fear: __________________________________ One thing that makes me angry: __________________________________ One thing I do not like about myself: __________________________________ Okay, now forget about this exercise and enjoy the story. Have you done it? If not, please do. It will enrich your experience of reading this book. If yes, thanks Sorry for doubting you. Please forget about the exercise, my doubting you and enjoy the story. _____________ The night train ride from Kanpur to Delhi was the most memorable journey of my life. For one, it gave me my second book. And two, it is not every day you sit in an empty compartment and a young, pretty girl walks in. Yes, you see it in the movies, you hear about it from friend’s friend but it never happens to you. When I was younger, I used to look at the reservation chart stuck outside my train bogie to check out all the female passengers near my seat (F-17 to F-25)is what I’d look for most). Yet, it never happened. In most cases I shard my compartment with talkative aunties,...
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