derivatives have been associated with a few truly notable events, including the collapses of Barings By René M. Stulz Financial Derivatives Third Quarter 2005 21 Bank (the Queen of England’s primary bank) and Long-Term Capital Management (a hedge fund whose partners included an economist with a Nobel Prize awarded for breakthrough research in pricing derivatives). Derivatives even had a role in the fall of Enron. Indeed, just two years ago, Warren Buffett concluded that “derivatives are fi
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Why do operations fail? How is failure measured? How can failure and potential failure be detected and analyzed? How can operations improve their reliability? How should operations recover when failure does occur? Operations (not) in practice Barings Bank and Nick Leeson On 3 March 1995 Nick Leeson, the Singapore-based ‘rogue trader’, was arrested immediately after his flight from the Far East touched down in Frankfurt. Since 27 February, the world’s financial community had
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- FB - LOLB FS- RE C FB June 28, 2012 1:40pm Maverick Andaloc C - L Paul 83 A 2 WR - T Cobbs 81 A 1 J Palmer 80 A 2 FB - Z Boone 80 A 7 DT - C Cabunoc 80 B 4 LOLB - D Molton 79 A 3 C - N Miles 79 B 1 QB - T Terrell 71 A 2 CB - D Banks 81 A 1 J Woods 72 A 2 DT - J Washington 7 TE - K Yancy 74 B 5 July 2, 2012 2:27am Maverick Andaloc i dnt kno wat to say ive already explained everything ooh jeez thinking about it now that thing you said about making more efforts with
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1 Preliminary draft The First Global Emerging Markets Investor: Foreign & Colonial Investment Trust 1880-1913 David Chambers and Rui Esteves∗ September 2011 Abstract: The Foreign and Colonial Investment Trust (FCIT) is the oldest surviving closed end fund in the world today. Its early success was related to its identification of a missing market, namely, the provision of a wholesale diversified investment vehicle for the investing public. Whilst much research has been conducted on
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Chapter 2 THE AUDIT MARKET Revision: 11 September 2012 2.1 Learning Objectives After studying this chapter, you should be able to: 1. Distinguish between different theories of audit services including agency theory. 2. Understand drivers for audit regulation. 3. Understand the role of public oversight. 4. Distinguish between different audit firms. 5. Identify some current developments in the audit market. 6. Portray the series of industry codes of conduct and guidance 2.2 Introduction
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organization, which may be either for-profit or non-profit, that takes money from clients and places it in any of a variety of investment vehicles for the benefit of both the client and the organization. Common examples of depository institutions are retail banks and savings and loan associations, both of which take deposits into safekeeping and use them to make loans to other customers. A non-depository institution is a government or private organization (such as building society, insurance company, investment
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IJBEMR Volume 2, Issue 7 (July, 2011) ISSN 2229‐4848 The Journal of Sri Krishna Research & Educational Consortium INTERNATIONAL JOURNAL OF BUSINESS ECONOMICS AND MANAGEMENT RESEARCH Internationally Indexed & Listed Referred e-Journal VENTURE CAPITAL IN INDIA D. P. WARNE*; PINKI INSAN** *Chaudhary Devi Lal University, Sirsa, Haryana-125055. **Shah Satnam Ji P.G. Girls College, Sirsa, Haryana- 125055. ABSTRACT India is the largest democracy
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≈√ F M A G u i d e l i n e s on Operational Risk Management These guidelines were prepared by the Oesterreichische Nationalbank in cooperation with the Financial Market Authority Published by: Oesterreichische Nationalbank (OeNB) Otto-Wagner-Platz 3, 1090 Vienna, Austria Austrian Financial Market Authority (FMA) Praterstraße 23, 1020 Vienna, Austria Produced by: Oesterreichische Nationalbank Editor in chief: Günther Thonabauer, Communications Division (OeNB) Barbara Nösslinger
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as an in-house division of J.P. Morgan, the institutional investment bank. Dennis Weatherstone, chair of Morgan in the early 1990s, wanted a simple, concise daily report that measured the company’s proprietary risk at the end of each day. Why? Because the needs for accurate and clear measure of exposure to market volatilities. In the wake of such financial disasters such as Orange County, Barings, Daiwa and Showa Shell, banks and financial service firms recognized the need for accurate, clear measures
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propounded socialistic society and mixed economy. There was dearth of capital, infrastructure facilities and entrepreneurship in the country. During this period, the Government developed infrastructural base such as roads, railways, electricity, ports, banks, financial institutions, insurance etc through the public sector enterprises which were supposed to attain commanding heights of the economy. The environment thus created resulted in the people of India becoming job seekers and the Government itself
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