...portfolio theory Harry Markowitz is highly regarded as a pioneer in theoretical justification of investor’s behavior and development of optimization model for portfolio selection process. In 1990, Markowitz shared a Nobel Prize for his contributions to financial economics and corporate finance, the first time presented in his “Portfolio Selection” (1952) and more extensively in his monography “Portfolio Selection: Efficient Diversification” (1959). His seminal works form the foundation of what is now known as Modern Portfolio Theory (MPT). This foundation was later substantially expanded by Markowitz’ fellow Nobel Prize co-winner, William Sharpe, who is generally recognized for his Capital Asset Pricing Model (CAPM) concerning with financial asset price formation. In the paper “Portfolio selection theory” Markowitz characterizes the Mean-Variance model as both normative theory, which offers a standard or norm of behavior that investors should pursue in constructing a portfolio, and positive hypothesis, which describes how investors actually behave as opposed to how they should behave. Yet, in his monography he intentionally characterizes the model only as normative theory. Conversely, Sharpe’s CAPM is regarded as a positive theory. Together, they provide a theoretical framework for concepts of expected return, risk, and measurement of the latter. Markowitz describes his work and that of Sharpe and Lintner as part one and part two of a microeconomics for capital markets. We can generalize...
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...effectively looks at the “thoughts and intentions of individuals in the past” and draws on their reasons for doing certain acts (151 Tosh). In the case of Roosevelt sending reinforcements, Brands indicates that although it seemed unfair that Roosevelt did not actively aid the Philippines immediately, there were other issue holding him back. As Brands explains, “Yet for all his good wishes toward the Philippines, Roosevelt could not ignore the other demands crowing upon him” (193). Although he may have wanted to help the Philippines, them were other matters that seemed more pressing, such as collaborating with the British to fight in Europe. All of this is important when writing a historiographical work! Therefore, it is evident that Brands monography is worthy of studying as it is different from previous works as Merrill states, “The archival depth distinguishes it from Stanley Knarow’s well-known In Our Image: America’s Empire in the Philippines” (1119). Brands successfully uses an array of sources into his book to support his writing and to engage readers in historical evidence. In addition, he takes elements from different influences to make an academic yet interesting book for readers that includes more than one side to the American and the Philippine’s bond. Also, just like what all good works of history should do, it stimulates conversation and questions. I found myself immediately conversing with my mother over the different ‘great men of history’ mentioned in the book and learned...
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...June 13 Performance Management by Prof Lise Saari 08 Fall Halo Errors in Performance Management Systems - Anita Rajendran Performance Appraisals are the backbone of Human Resources and a crucial aspect of the entire Performance Management System (PMS) but also the most difficult to implement. The effectiveness of a Performance Appraisal can be seriously impacted by the common errors that raters make. Halo is one such error and can be defined as "the influence of a global evaluation on individual attributes of a person" (Nisbett & Wilson, 1977, p. 250) or "the influence of a rater's general impression on ratings of specific ratee qualities" (Lance, LaPointe, & Stewart, 1994, p. 339). The article tries to understand the background and research done into halo error and whether there is clear evidence to suggest that there is a positive or negative link to rating accuracy due to Halo error. It attempts to see if there are ways in which an organization can effectively utilize these research findings to counter halo error or whether any experiments done are effective only in a laboratory setting. Finally review on whether this aspect of the performance appraisal can be incorporated into an actual performance appraisal system. Individual Research Paper – Halo Error in Performance Management Systems Introduction and Background 3 What is Halo Error – The underlying research and theory 3 Deep Dive 5 How to counter the halo error or reduce error? 5 Effective use...
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...Transcendental Philosophy One needs specific initiation into the classics of transcendental philosophy (Kant’s "Criticism," Descartes’s "Metaphysics," and Fichte’s "Doctrine of Science") because all say farewell to the common sense view of things. The three types of transcendental thinking converge in conceiving rational autonomy as the ultimate ground for justification. Correspondingly, the philosophical pedagogy of all three thinkers is focused on how to seize and make that very autonomy (or active self-determination) intellectually and existentially available. In the concrete way of proceeding, however, the three models diverge. Descartes expects one to become master of oneself and "the world" by methodologically suspending his judgement on what cannot qualify itself to be undoubtable. Kant leads us to the point where we can triangulate universal conditions of the possibility of knowledge through individually acquiring the competence to judge the legitimacy of encountered propositional claims. Finally, Fichte confronts us with the idea of the identity of self-consciousness and objectivity. (1) Transcending ordinary life and experience to a somewhat higher being is surely not the scope of transcendental philosophy. What the revolutionary achievements of Descartes, Kant, and Fichte have generically in common is to account for the legitimacy of our knowledge claims or, in other words, for the possibility of autonomy. The business of that kind of philosophy is to rationally...
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...International Claudio Becker Baselstrasse 47, CH - 6003 Luzern Cell-phone: 0041 78 659 59 36 E-mail: info@claudio-becker.ch CLAUDIO BECKER | BA DESIGN MANAGEMENT, INTERNATIONAL TABLE OF CONTENTS Abstract 1. Introduction 2. Reference to design management 3. State of the Art 3.1 The context 3.2 Introduction to packaging 3.2.1 The fundamentals of packaging 3.2.2 The packaging design process 3.3 Sustainable packaging 3.3.1 What is sustainability? 3.3.2 What is sustainable packaging? 3.3.3 Materials 3.3.4 Barriers & drivers 3.4 Practise examples 3.4.1 Company overview 3.4.2 Comparison 4. Analysis / Synthesis 4.1 Insights 4.2 Sustainable packaging criteria 4.3 Recommendations 4.4 Conclusion Bibliography Books Reports Webography Monography Acknowledgements Declaration of Authorship Appendices PAG E III p. V p. 1 p. 2 p. 4 p. 4 p. 6 p. 6 p. 8 p. 10 p. 10 p. 14 p. 22 p. 25 p. 28 p. 28 p. 29 p. 32 p. 32 p. 38 p. 39 p. 44 p. 45 CLAUDIO BECKER | BA DESIGN MANAGEMENT, INTERNATIONAL LIST OF FIGURES Figure 1 | p. 2 | Dimensions of Design Management in Organizations by Acklin and Hirter 2009 Figure 2...
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...dracontias 1 2007 no. 1 2007 1 dracontias 1 2007 2 dracontias 1 2007 Melez! Occasionally, one encounters persons calling themselves “theoretical magicians” and thus meaning that they subscribe to the magical paradigms without practising magic. But, theoretical magic is a contradiction. Magic is practice, action. Eugenio Trias, professor in philosophy, have pointed out that the word magic can be traced back to the same root as make (Swedish makt meaning ‘power’, German machen meaning ‘do’ or ‘make’). Magic is a creative, creating force through which the magician enables his visions through action. This is echoed in the Draconian magical formula: Visio, Vires, Actio: Vision, Force, Action. Practising magic, however, is an art that demands dedication, patience and discipline. A process of ennobling is demanded to develop the magical abilities, a path of initiation, an alchemy in which vision and action are united into a whole. The Magical Week on Gotland is the most important magical highlight of the year, where we unite magical work with inspiring social activities and there will be a unique opportunity to work magically in depth together with others in Dragon Rouge. The Magical Week 2007 we will focus on Visio Vires Actio – The Draconian Alchemy and we will ennoble our magical abilities during intensive magical operations. HDHM! Dracontias No. 1 2007 In this issue: Editorial A few words by Thomas Karlsson The Path Through the Underworld By Anne L. The Manala...
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...INTRODUCTION Much of the literature about the liberation struggle in the South-East Lowveld has documented different counter strategies by the RSF but propaganda as one of the strategy has been partially covered. The study focuses on Rhodesia Front government’s propaganda as a counter insurgency strategy to the guerrilla activities. Propaganda is the control of public opinion. There are three types of propaganda that is white, grey and black propaganda. White propaganda is the dissemination of the truth to someone’s advantage, grey propaganda is the mixture of lies and truth and black propaganda consists of largely but not total lies. All these types were exploited upon implementation of propaganda at different levels through different tactics. Psychological operations which were executed as forms of propaganda involved planned use of communication through words, symbols and actions to influence the behaviour of the targeted audiences and achieve set objectives. The government’s use of propaganda warfare was prompted by a number of reasons which ranged from economic, political, social and military factors. It is worth noting here that, the tempo and conduct of the war varied from one locality to the other depending on the terrain and proximity to strategical areas like borders, transport networks and close to government’s administrative offices. The study is presented in three chapters. The first chapter outlines the reasons for the introduction of propaganda warfare in Chilonga...
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...Universitas. Revista de Filosofía, Derecho y Política, nº 17, enero 2013, ISSN 1698-7950, pp. 3-27. LA CONTRIBUCIÓN HISTÓRICA DE A. T. MAHAN. EL ANÁLISIS COMPARATIVO DE LOS CONCEPTOS GEOPOLÍTICOS: ESTRATÉGICO-MILITAR Y NATURAL-ORGÁNICO The historical contribution of A. T. Mahan. Comparative analysis of the geopolitical concepts: military-strategic and natural-organic Katerina Fédorova * RESUMEN: El análisis se concentra en la revisión de los hechos y tendencias geopolíticos, de su aplicación en la práctica, basándonos en las teorías de los geopolíticos clásicos. Prestaremos especial atención a la aportación única del geopolítico y famoso almirante A. T. Mahan. Para estudiar y analizar mejor el tema de la investigación, las teorías y los conceptos se han unido en dos conceptos más amplios y generales: el concepto estratégico-militar y el concepto natural-orgánico. Por lo tanto, el artículo se dedica al profundo y complejo análisis teórico de dos enfoques geopolíticos para identificar los factores del poderío de un país. Pondremos especial atención en las talasocrasias, y las conclusiones se formulan principalmente sobre España. Basándose en las visiones de los teóricos clásicos y fundadores geopolíticos, las tendencias de formación de las estrategias de diferentes países, la autora construye su visión propia del poderío estatal. ABSTRACT: The analysis focuses on the review of the facts and geopolitical trends, their application in practice, which based on the theories of classical...
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...Les Grecs peuvent être considérés comme les inventeurs de la science politique. Le mot même de "politique" est issu étymologiquement du terme grec polis signifiant "cité". De même, les termes utilisés pour qualifier les régimes politiques (démocratie, aristocratie par exemple) sont d'origine grecque. Les Hellènes ont été les premiers à réfléchir sur le phénomène du pouvoir, sur les rapports entre les groupes sociaux, sur le fonctionnement des institutions. De la sorte, leur influence a été déterminante sur le cours de l'histoire des idées politiques jusqu'à l'ère moderne. Ainsi, les théoriciens du IIIème Reich se vantaient d'avoir réalisé la cité idéale platonicienne exposée dans Les Lois; de même, ils admiraient l'idéologie politique de Sparte. Les cités grecques ont élaboré un type d'Etat impliquant une participation à la vie publique des habitants. I. Le cadre de la réflexion politique: la polis A. Le caractère spécifique de la polis Au début de la période archaïque grecque (du VIIIème au VIème siècle avant J.C.), la polis, c'est à dire la Cité-Etat, va déjà apparaître comme pleinement constituée. Cette polis est une entité géographique de petite dimension constituée d'une agglomération urbaine, ainsi que de la campagne environnante parsemée de villages et bourgades. Sur le sol grec (rassemblant la Grèce continentale, les îles, mais aussi les côtes de l'Asie mineure, l'Italie du Sud et la Sicile), on compte une multitude de ces micro-états. L'invention de...
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...CHAPTER ONE INTRODUCTION BACKGROUND The restaurant industry consists of restaurants, bars, and other away-from-home eating facilities. The National Restaurant Association (NRA), an industry trade group based in Washington, D.C., estimated that industry sales in 2001 totaled $399 billion and predicted that industry sales will hit $576.9 billion by 2010. According to the National Restaurant Association (1999), an estimated 844,000 establishments offered prepared food in the United States in 2001 and the number of restaurants in the U.S. is forecasted to increase to 1,001,305 by the year 2010 (Figure 1.1). 1200 1000 1000 831 800 577 600 400 376 200 0 Sales (billions) Locations (thousands) 2000 2010 Source: National Restaurant Association (1999) Figure 1.1 Restaurant Industry Sales and Locations 1 There are a variety of possible locations for restaurants including a freestanding unit, located in shopping mall outlet, food court, or a multiple concept unit within an existing facility designed for another business such as a gas station and convenience store. It may be leased space, a building the retailer purchases, or a new structure built to specification. Each has its own advantages and disadvantages for specific types of restaurants (James, Walker, and Etzel, 1975; McGuire, 1993; Powers, 1997; Hsu and Powers, 2002). The cost of land, lease expenses, and building varies with the location of the restaurant. Metropolitan...
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...ROYAUME DU MAROC __________________ ORDRE DES EXPERTS COMPTABLES _________________________________________________________________________ Régi par la loi n° 15-89 Réglementant la profession d'Expert Comptable et instituant un Ordre des Experts Comptables Promulguée par le Dahir n° 1-92-139 du 14 Rajeb 1413 (08 Janvier 1993) ___________________ GUIDE PRATIQUE D' A U D I T AIDE À LA MISE EN ŒUVRE DU RÉFÉRENTIEL DE NORMES ROYAUME DU MAROC __________________ ORDRE DES EXPERTS COMPTABLES _________________________________________________________________________ Régi par la loi n° 15-89 Réglementant la profession d'Expert Comptable et instituant un Ordre des Experts Comptables Promulguée par le Dahir n° 1-92-139 du 14 Rajeb 1413 (08 Janvier 1993) _______________________________________ GUIDE PRATIQUE D´AUDIT Lors de la réunion du 21 décembre 2004, le Conseil National de l’Ordre des Experts Comptables a adopté le présent guide pratique d’audit. Avant propos Ce guide vise à synthétiser les éléments essentiels de la mission d'audit légal ou contractuel et à aider les professionnels à mettre en œuvre le dispositif de normes. Il n'est pas destiné à remplacer le manuel des normes dont tous les principes et commentaires restent fondamentaux dans l'exercice professionnel. Il est directement inspiré des normes internationales d'audit (IFAC). Il n'a pas vocation à répertorier toutes les situations et doit être considéré comme mémo de référence des principales...
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...THE FIRST FILIPINO Republie of the Philippines Department of Education & Culture NATIONAL HISTORICAL COMMISSION Manila FERDINAND E. MARCOS President Republic of the Philippines JUAN L. MANUEL Secretary of Education & Culture ESTEBAN A. DE OCAMPO Chairman DOMINGO ABELLA Member HORACIO DE LA COSTA, S. J. Member GODOFREDO L. ALCASID Ex-Oficio Member TEODORO A. AGONCILLO Member EMILIO AGUILAR CRUZ Member SERAFIN D. QUIASON Ex-Oficio Member FLORDELIZA K. MILITANTE Exccutive Director RAMON G. CONCEPCION Chief, Administrative Division BELEN V. FORTU Chief, Budget & Fiscal Division JOSE C. DAYRIT Chief, Research & Publications Division AVELINA M. CASTAÑEDA Chief, Special & Commemorative Events Division ROSAURO G. UNTIVERO Historical Researcher & Editor EULOGIO M. LEAÑO Chief Historical Writer-Translator & Publications Officer GENEROSO M. ILANO Auditor JOSE RIZAL (1861-1896) THE FIRST FILIPINO A Biography of José Rizal by LEÓN Ma. GUERRERO with an introduction by CARLOS QUI R INO ( Awarded First Prize in the Rizal Biography Contest held under the auspices of the José Rizal National Centennial Commission in 1961) NATIONAL HISTORICAL COMMISSION Manila 1974 First Printing 1963 Second Printing 1965 Third Printing 1969 Fourth Printing 1971 Fifth Printing 1974 This Book is dedicated by the Author to the other Filipinos Speak of me as I am; nothing extenuate, Nor set down aught in malice, Shakespeare: °the/Lo. Paint my picture truly like me, and not flatter me at all ; but...
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